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BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, Sept. 27 (Xinhua) -- The spacewalk performed by Chinese taikonauts Zhai Zhigang Saturday afternoon marks a major breakthrough in China's space program, Chinese President Hu Jintao said.     Hu talked with the trio taikonauts at the Beijing Aerospace Control Center for the Shenzhou-7 mission at 6:35 p.m. Saturday, when he inquired the physical conditions of the three taikonauts.     "Your country and your fellow citizens thank you for your devotion to the space program," he said.     He congratulated the trio over the success of the spacewalk, and encouraged them to continue the efforts for a "complete success.     Zhai Zhigang was assisted during the spacewalk by Liu Boming in the orbit module. China is the third country in the world to accomplish the feat after the United States and Russia. "How did you feel like in space?", President Hu asks spacewalker    Chinese President Hu Jintao asked Chinese taikonauts what it was like walking in space in a conversation with them after the trio successfully realized the country's first-ever space walk on Saturday.     "How did you feel like in space after exiting the module?" asked smiling Hu, who was talking on a phone that connected him at the Beijing Aerospace Control Center (BACC) with astronauts on the spacecraft Shenzhou-7.     "I felt superb," answered Zhai Zhigang, who carried out about 25 minutes of extra-vehicular activity (EVA) about 343 km above the earth after floating out of the Shenzhou-7 cabin on Saturday afternoon.     "The process of taking on the Feitian spacesuit went smooth," said Zhai, looking confident and radiant on the screen at the BACC. "In the vast space, I felt proud of our motherland."      Hu congratulated the astronauts on the successful feat and encouraged them to carry on efforts to fulfill the mission.     "The thing I most want to know is how are you feeling now and how is your work going," Hu asked the trio.     "We feel well," said Zhai. "We conducted the space scientific tests as planned and the EVA went smoothly."     Hu hailed the spacewalk as a sign of the country's progress in space scientific technology.     "You have made outstanding contribution to our country's space project," said Hu. "The country and the Chinese people are grateful to you."     At 4:43 p.m. (0843 GMT) on Saturday, Zhai slipped out of the orbital module of Shenzhou-7 in a head-out-first position, wearing a 4-million-U.S.dollar homemade Feitian space suit.     China's first-ever spacewalk marked a remarkable progress in the country's ambitious space program, which will eventually lead to the establishment of a permanent space station. The video grab taken at the Beijing Space Command and Control Center on Sept. 27, 2008 shows Chinese taikonauts (L-R) Jing Haipeng, Zhai Zhigang and Liu Boming talk on the spacecraft Shenzhou-7 with Chinese President Hu Jintao who is in Beijing, capital of China, Sept. 27, 2008.

MACAO, Oct. 1 (Xinhua) -- The year of 2008 saw China make several great achievements in various fields, which is a testimony to the nation's improving comprehensive national strength, the chief of Macao said at a reception held here on Wednesday to celebrate the 59th anniversary of the People's Republic of China (PRC).     Attracting worldwide attention, the Chinese mainland successfully held the Beijing Olympics and the Paralympics in the past two months, while taking great steps in its space exploration history by accomplishing the Shenzhou VII mission that saw the first spacewalk by a Chinese astronaut, Ho Hau Wah, chief executive of the Special Administration Region (SAR), said when addressing over 1,000 officials and luminaries at the cocktail party.     He also pointed out that China showed profound and strong vigorand demonstrated its national spirit, when the whole nation mustered up its concerted effort to brave the challenge of massive snowstorms that swept several provinces and the powerful earthquake occurred in the Sichuan province that led to a large number of deaths.     The party was part of the annual events held on China's National Day every year. The chief executive officiated a flag-raising ceremony at the city's Lotus Flower Square early Wednesday morning, and later met more than 40 young people from the quake-hit Sichuan province, who assisted the rescue of victims in the disaster area.     Since this year will also witness the 30th anniversary of China' s reform and opening-up, Ho noted that after undergoing numerous challenges and overcoming various difficulties in the past three decades, the nation entered a new era of its development. "Being a Chinese, we all take great pride in it," he said     Regarding the nine years after the SAR's establishment, Ho concluded that behind every step of the SAR's development, there was the all-out support from the central government, and the SAR also closely kept pace with the development and construction of the mainland, in a bid to strengthen its ties with the mainland people.     Next year will not only witness the 60th founding anniversary of PRC, but the 10th anniversary of the SAR. Ho said that the SAR government will continue promoting Macao's development and progress, bettering people's lives and sharing the fruits of the development.

BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence.     The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50.     The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row    Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars).     Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge.     China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months.     Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year.     Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation.     The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.

ZHENGZHOU, Sept. 10 (Xinhua) -- Chinese President Hu Jintao visited a special education school and a rural middle school in the central Henan Province to mark the country's 24th Teachers' Day, which falls on Wednesday.     At the Zhengzhou Deaf-Mutes School in the provincial capital, Hu, also general secretary of the Communist Party of China (CPC) Central Committee, commended the teachers for bringing sunshine and hope to the handicapped children with their love and hard work.     He said the cause of special education deserved respect from the whole society, urging the 110-strong faculty members to give more care and even better education to the children for their healthy growth. Chinese President Hu Jintao (R Front) shakes hands with a teacher as he visits Gaomiao Middle School in Qinghua Town of Bo'ai County under Jiaozuo City, central China's Henan Province. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10In the classrooms, the president told the students about the significance conveyed by the ongoing Beijing Paralympic Games, and encouraged them to build themselves a bright future with the help of the society and the teachers.     On Tuesday morning, Hu also visited a rural junior high school called the Gaomiao Middle School, in Qinghua Township, Jiaozuo City.     He sent his greetings to the teachers, saying their diligent work has helped many children from the countryside realize their dreams.     He promised to further improve rural teachers' working and living conditions and told them to foster more talents for the country. Chinese President Hu Jintao (C) shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10Hu also expressed concern about children left behind by parents who were working in cities as migrant workers, saying the country was taking measures to give them better care.     The president also visited the school kitchen and the students' dormitory, telling the school to take good care of their life.     After playing together with the students on the playground, Hu talked with student Huang Zaizhen, encouraging him to study hard to become a person of use for his hometown and for the homeland.     He led the students in the applause in honor of the teachers. Chinese President Hu Jintao (C) shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10

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