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BEIJING, Oct. 31 (Xinhua) -- Chinese shares dropped 1.97 percent on Friday, the month's last trading day.     The benchmark Shanghai Composite Index lost 1.97 percent, or 34.82 points, to close at 1,728.79. The Shenzhen index was down 1.19 percent, or 70.33 points, to close at 5,839.33 points.     The combined turnover was 35.23 billion yuan (5.03 billion U.S.dollars), compared with 49.35 billion yuan on the previous trading day. Losses outnumbered gains by 656 to 199 in Shanghai and 576 to151 in Shenzhen.     Almost all sectors fell except industries related to aircraft making after the Commercial Aircraft Corporation of China Ltd. (CACC) announced Chinese indigenous regional jets would be sold to the United States, analysts said. CACC is not a publicly traded company.     Coal companies suffered the most losses. Kailuan Clean Coal Co.lost 7.21 percent to 10.3 yuan. Taiyuan Coal Gasification Company fell 4.34 percent to 7.50 yuan.     "I don't think the fall was related to recent mine accidents. It was a reflection of diminishing global energy demand," said Alex Xue, analyst with JL McGregor & Company.     The finance sector also dropped by an average of 3 percent. CITIC securities lost 2.46 percent to 17.84 yuan. Bank of Communications fell 4.20 percent to 4.33 yuan.     According to estimates from Friday's China Securities News, third-quarter profits of the country's 1,466 listed companies would fall 10.17 percent from the same period a year ago and 18.41 percent from the previous month to 206.09 billion yuan.     Operating net cash flow fell 51.75 percent to 827.4 billion yuan in the first three quarters. Analysts said rising material costs and weakening demand led to slumping profits.     The country's industrial output value growth slowed to 11.4 percent in September, the lowest rate since April 2002, the National Development and Reform Commission said on Thursday.     Despite the latest rate cut, which was viewed as helpful to stabilizing the stock market, analysts said the market could possibly continue falling. The long-term affects from the rate cut are yet to been seen.

BEIJING, Nov. 3 (Xinhua) -- Leaders from the Communist Party of China(CPC) and the Prosperous Armenia of Armenia pledged to promote contacts based on principles of independence, equality and non-interference in each other's internal affairs on Monday.     Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee, and Gagik Tsarukyan, president of the Prosperous Armenia agreed to learn from each other to cement the relations between the two countries during a meeting at the Great Hall of the People.     Li said Sino-Armenia relations had developed smoothly and cooperation in the fields of trade, education, science and agriculture had been fruitful since the two countries forged diplomatic ties in 1992.     He expressed appreciation of Armenia's adherence to the one-China policy, saying China valued ties with Armenia and would upgrade the bilateral ties to benefit the two peoples.     Tsarukyan echoed that his party would strengthen cooperation with the CPC to further relations between Armenia and China.     Prosperous Armenia of Armenia was founded by Tsarukyan in late 2005, and now is the second largest political party in parliament.     Tsarukyan and his party are visiting China at the invitation of the International Department of the CPC Central Committee.

BEIJING, Jan. 24 (Xinhua) -- Chinese President Hu Jintao urged the promotion of stable agricultural and rural economic development and said issues concerning agriculture, countryside and farmers should continue to be the top priority of the Communist Party of China (CPC).     Hu, also General Secretary of the CPC Central Committee, made the remarks during a meeting of the Political Bureau of the CPC Central Committee on Friday. Attendees at the meeting studied the means to promote agricultural modernization with Chinese characteristics.     Maintaining stable agricultural and rural economic development was more important under current circumstance, Hu said.     Agricultural production was the basic support to stimulate economic growth; rural areas had the potential to boost domestic demand; and to improve farmers' living standards was a major task and also a difficult job, he said.     He called for more efforts on three major tasks of agricultural work.     First, greater importance should be laid on ensuring the country's grain security and supplies of major agricultural products.     The country should stick to the most strict system to protect and save farming land as well as stabilize the grain sowing area, Hu said.     He said the government should increase subsidies for agricultural production and continue to raise the minimum state purchasing prices for grain.     In the latest move to protect farmers' interests and boost grain output, the National Development and Reform Commission said Saturday it would raise the minimum state purchasing prices for rice in major rice-producing areas by as much as 16.9 percent this year.     Hu also stressed the quality supervision and monitoring of agricultural products to ensure food safety.     Second, more importance should be attached to promote rural infrastructure construction as well as improve social welfare and living standard of farmers, he said.     He urged increasing capital input in infrastructure construction and rural social welfare and said greater efforts should be made to improve rural education, medical services and poverty alleviation.     Third, an array of measures should be taken to promote the growth of farmers' income and expand the rural market, Hu said.     He urged more efforts to discover new measures and channels to boost farmers' income and improve the commodity circulation network in rural areas.     The program of subsidized home appliance, autos and motorcycles should be promoted, he said.     He also urged quality authorities to make best efforts to protect farmers' interests and avoid fake and shabby products flowing in to rural markets.     Speaking of rural workers employment, Hu said governments should encourage enterprises to be more responsible and employ more rural workers.     The governments could also provide more job opportunities for rural workers by letting them work on the infrastructure projects amid the country's efforts to boost domestic demand, he said.     More support should be given to migrant workers who returned because of employment difficulty in cities and encourage them to start their own businesses, Hu said.     He also suggested Party leaders and governments at all levels should apply the scientific outlook on development to their work to deal with the emerging problems and challenges facing agricultural and rural economic development, and contribute more to promoting rural reform, development and stability.

    BEIJING, Dec. 24 (Xinhua) -- The National People's Congress (NPC), China's top legislature, heard here on Wednesday a series of reports including the implementation of the 11th five-year plan and the impact of the world financial crisis.     Wu Bangguo, chairman of the NPC Standing Committee, attended the conference.     Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), delivered a report on how the Chinese government has implemented the Outline of the 11th Five-Year Program for National Economic and Social Development (2006-2010). The Second plenary session of the sixth session of the 11th Standing Committee of China's National People's Congress is held at the Great Hall of the People in Beijing, China, on Dec. 24, 2008.    The implementation has been going well, with most of the goals being reached as scheduled at the middle stage, he said.     He urged more attention to be paid on expanding domestic demand, increasing innovative ability, continuing reforms on resource prices and taxes, energy saving and emission reduction, as well as increasing the government's ability to provide public services.     Zhang also gave a report on how the intensifying impact of the world financial and economic crisis is reverberating through China's economy.     Other reports included efforts to stabilize prices and prevent price hikes addressed by NDRC vice head Zhang Mao, as well as water pollution prevention and control by Environmental Protection Minister Zhou Shengxian.

WASHINGTON, Nov. 14 (Xinhua) -- Chinese President Hu Jintao arrived in Washington Friday for a summit to discuss issues concerning financial markets and the global economy.     President Hu, and other leaders from the Group of Twenty (G20) members, have been invited by U.S. President George W. Bush to Saturday's meeting, the first in a series of summits to mitigate what economists predict could be a long and deep downturn.     Later in the evening, the Chinese president is expected to attend a dinner hosted by Bush for all the leaders.     "The leaders will review progress being made to address the current financial crisis, advance a common understanding of its causes, and, in order to avoid a repetition, agree on a common set of principles for reform of the regulatory and institutional regimes for the world's financial sectors," said White House spokeswoman Dana Perino last month in making the announcement of the summit.     At a press briefing last week, Chinese Vice Foreign Minister He Yafei said that China expects to build a fair, inclusive and efficient international financial system.     "We hope to consult with other participants to reform the international financial system and finally try to establish a fair, inclusive and efficient system," He said.     He said that China would take an active part in the summit-related activities in a constructive attitude, work together with all the parties for the achievement of pragmatic outcome, and impel the international community to tackle the financial crisis in a timely, comprehensive and effective manner.     The members of the G20 include Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United States, and the European Union.     The managing director of the International Monetary Fund (IMF),the president of the World Bank, the secretary-general of the United Nations and the chairman of the Financial Stability Forum have also been invited to the Washington summit.     Washington is the first leg of President Hu's five-nation trip. He will later pay state visits to Costa Rica, Cuba, Peru and Greece. During his stay in Peru, he will attend the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation(APEC) forum in Lima.

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