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BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened. The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October. In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day. Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen. Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said. Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001. The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said. Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said. Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low. In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan. Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said. Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan. China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday. If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.
BEIJING, July 4 (Xinhua) -- China's State Council published on Friday guidelines on post-quake reconstruction, emphasizing house repair and building work. The State Council, China's Cabinet, stressed priority for repairing and building houses for people whose homes were destroyed during the May 12 tremor. "Check for repairable buildings and fix them as soon as possible; scientifically choose sites, economically use land and set down reasonable quake-resistant levels for building new houses," the guidelines said. Areas suitable for living must be marked off based on scientific standards and evaluations on geology and natural resources. Meanwhile, the government will see to the reasonable distribution regarding population, industry and productivity, according to the guidelines. A local man builds house at ruins at Yuzixi Village, Yingxiu Township, Wenchuan County in Southwest China's Sichuan Province, June 9, 2008. Residents in quake-hit Yingxiu Township are now reconstructing their hometown The reconstruction of buildings should take local advice into account, and be based on governmental subsidies, social support and local resources. All the measures were aimed to let quake-hit people live in "safe and comfortable houses as soon as possible", said the guidelines. Resources should be optimized to upgrade quake resistance standards and improve the quality of construction, the guidelines said. Priority should be given to the reconstruction of public facilities, including schools and hospitals, and these buildings should be the "safest, most solid and trustworthy". The guidelines required high schools and vocational schools be located in county seats, middle school in townships while primary school sites be relatively concentrated. The guidelines also underscored the importance of protecting the ethnic and cultural relics affected by the major quake. Earthquake sites and memorial halls would be erected, and the reconstruction of government buildings should be "frugal" and "practical." The restoration of infrastructure should be adjusted to local conditions and planning, the guidelines added.

BEIJING, June 11 (Xinhua) -- Senior Chinese leaders have called on Chinese people to concentrate their energy on quake relief and economic and social development at the same time. Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the call when meeting quake-relief model workers here on Wednesday. Xi Jinping, who is China's vice-president and also member of the Standing Committee of the Political Bureau of the CPC Central Committee, also met with the model workers. Li Changchun (6th L, 1st row), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, and Chinese Vice President Xi Jinping (7th L, 1st row), also member of the Standing Committee of the Political Bureau of the CPC Central Committee, pose for a group photo with quake-relief model workers before the first lecture on the heroic deeds and thoughts in quake relief efforts, in Beijing, capital of China, June 11, 2008. The model workers made lectures in the Great Hall of the People on their deeds and thoughts in quake relief efforts. Li Changchun said that in fighting against the 8.0 magnitude quake that jolted southwest China's Sichuan Province on May 12, great national solidarity and spirit have been shown. He praised the 37 model workers who came from different occupations, including the military, police, medical services and education, for their courage and engagement at the very front of the relief missions. Li Changchun (3rd R, 1st row), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, and Chinese Vice President Xi Jinping (2nd R, 1st row), also member of the Standing Committee of the Political Bureau of the CPC Central Committee, applaud during the first lecture on the heroic deeds and thoughts in quake relief efforts by quake-relief model workers in Beijing, capital of China, June 11, 2008 Li stressed that all party and government officials in quake-affected areas should not let up in supporting survivors and striving to help them rebuild their homes and the local economy. On the other hand, officials should also make more preparations for the impending Olympics, he said.
Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, visits a pasture during his investigation of local stockbreeding and eco-agriculture at Mengzhai Village of Qinglong County, southwest China's Guizhou Province, May 7, 2008. Wu made an inspection tour in Guizhou on May 6-9. GUIYANG, May 9 (Xinhua) -- China's top legislator Wu Bangguo made a visit to southwest China's Guizhou Province, during which he praised the snow-hit province's reconstruction progress, talked to farmers in the fields and gave directions on local development. During his visit from May 6 to 9, Wu, Chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, urged both the government leaders in Guizhou and local people to work hard and promote sound and rapid economic and social development. Wu went to field ridges, vegetable greenhouses, coal mines and power plants, spent his time chatting with farmers and workers. Wu expressed his concerns over the disaster-hit areas, and asked relevant departments to see to the living conditions of those affected by the winter snow and harvest of the crops. He said transportation is one of the major issues that stagnate the development of the province and priority should be given to the development of transportation network. During his trip to Mengzhai village, 200 kilometers away from provincial capital Guiyang, Wu inspected local environmental-friendly projects. Wu said efforts should be made to increase farmers' income. He also stressed the importance of training more talents and bringing in more enterprises to enhance the vitality of local economy. To promote education and environmental-friendly projects is conducive to long-term sustainable development for Guizhou, said Wu.
GENEVA -- The Tibet issue is not an ethnic issue, not a religious issue, nor a human rights issue, but an issue either to safeguard national unification or to split the motherland, a Chinese diplomat said in Geneva on Friday."The Tibet issue is entirely an internal issue of China which concerns the country's sovereignty," said Qian Bo, counsellor of the Chinese Mission to the UN Office in Geneva.The diplomat was addressing a regular session of the UN Human Rights Council, during which some delegates made biased comments on the so-called human rights situation in Tibet.Those delegates' comments were "an evident act of politicizing human rights and practicing double standards," said Qian.Qian stressed that the human rights situation in Tibet had improved continuously since its peaceful liberation in 1951.He said Tibetans are now enjoying full religious freedom and their traditional culture has also been carried forward."The progress and achievements made in Tibet are facts that cannot be written off by lies and libels," he said.The diplomat stressed that the violent crimes committed in March in Lhasa, the capital of southwest China's Tibet Autonomous Region, were mastermind and incited by the ** clique aimed at splitting the motherland.The riot has nothing to do with human rights, so China cannot accept any unreasonable accusations, he said.The diplomat also urged the Human Rights Council to avoid politicizing human rights and remove double standards in order to maintain its prestige and credibility.
来源:资阳报