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TANGSHAN, Hebei Province, Oct. 16 (Xinhua) -- Chinese top political advisor Jia Qinglin Friday called for international cooperation, shared responsibility and dialogue to promote sustainable development worldwide. "Green development should be a common cause for the world," said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) at the opening ceremony of the first Caofeidian Forum held in Tangshan, northern Hebei Province. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, speaks at the opening ceremony of the First Caofeidian Forum in Tangshan City of north China's Hebei Province, Oct. 16, 2009He suggested that the government of all countries should develop their own roadmap of green development based on the reality of their countries and adopt effective policies. "It is a shared responsibility for the world to improve energy efficiency and reduce greenhouse gas emission," he said. He called for developed countries to lead the cause and provide financial and technical support for developing countries to cope with climate change. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference, inspects the Nanhu ecological area in Tangshan City of north China's Hebei Province, Oct. 15, 2009. Jia Qinglin made an inspection tour in Tangshan from Oct 15 to 16New technologies in energy saving, environmental protection and new energy application should be widely used, he said. "The international society and governments of all countries should strive to set up a new mechanism that smoothes international technological exchange while protecting intellectual rights." Jia also suggested that the world should explore sustainable development through dialogue. "China will stick to the sustainable development," he said. "We will work to build a resource-saving, environmentally-friendly and innovative country." The three-day forum was the first permanent international forum themed on the sustainable development initiated by China. It will be held every two years.
BEIJING, July 24 (Xinhua) -- The Chinese government supports UN's leading role in promoting international cooperation to curb climate change, Premier Wen Jiabao said here Friday. Wen made the remarks while meeting with UN Secretary-General Ban Ki-moon, who arrived here Thursday evening for a four-day visit. Calling the United Nations a core player of the international system, Wen said the organization has played an important role in settling major international and regional issues as well as global challenges. Chinese Premier Wen Jiabao (R) meets with UN Secretary-General Ban Ki-Moon in Beijing , China, July 24, 2009. He assured Ban of continued support for the UN work and the country's contribution to world peace and development. Wen urged the international community to pay close attention to the impact of global financial crisis on developing countries, and to attach great importance to their interests and concerns. Chinese Premier Wen Jiabao (R) meets with UN Secretary-General Ban Ki-Moon in Beijing , China, July 24, 2009."The climate change issue is both an environmental and development problem," Wen said, noting developed countries should offer more concrete help to developing nations in fund, technology and capability building, which helps the sustainable development of the whole world. Ban expressed appreciation over China's long-term efforts in promoting world peace and common development. He said the United Nations hopes to strengthen cooperation with China to tackle global challenges including economic downturn, regional conflicts, climate change and food security. He praised China's efforts in energy conservation and emission reduction. He stressed it is of key importance to stick to the principle of "common but differentiated responsibilities" when responding to climate change, and to take into consideration the interests and voices of developing countries. Ban also expressed hope for a fruitful Copenhagen summit on climate change in December with joint efforts from all parties concerned.
BEIJING, July 29 -- The securities watchdog is mulling further measures to plug the loopholes that showed up in the latest round of initial public offerings (IPO), according to Shang Fulin, chairman, China Securities Regulatory Commission (CSRC). The CSRC is generally satisfied with the results of the recent reforms, but also identified a number of areas that need to be improved. One of these areas is the lack of a provision to block institutional investors from taking advantage of the new allotment system by masquerading as personal investors in their IPO applications. "Some institutional investors were known to have circumvented the subscription limits on their accounts by making applications through personal investor accounts opened with borrowed ID cards," said Lu Junlong, analyst, China Finance Online. "Stockbrokers keen on earning commission fees usually turn a blind eye to such irregularities," he said. People watch the index screen at a stock market in Shanghai, China, July 1, 2009. The CSRC said it is planning to take steps to safeguard individual investors' interests. This has defeated, to some extent, the primary objective of the reform, of increasing the allotment of new shares to personal investors. In the past, the deluge of applications from well-financed institutional investors had largely crowded out applications from individual investors. Because of the loophole, the ratios of allocation of newly issued shares to personal investors in the past several IPOs were still deemed too low. For example, the ratio of allocation in the IPOs of Guilin Sanjin Pharmaceutical, one of the first companies to obtain a stock exchange listing after the lifting of the IPO suspension, was only 0.17 percent. The ratio of allocation in the Sichuan Expressway IPO was 0.26 percent, while it was 2.83 percent for China State Construction Engineering Corp's public float. "The ratio of allocation to subscription is at a low level, similar to the lottery system in the past," said Zhu Hongbin, an investor with over 10-year experience in the market. Considering the wide price gap between the primary and secondary markets, many institutional investors borrowed heavily from banks to subscribe for new shares. Easy credit and cheap money have given institutional investors a much greater edge over small investors in the fight for IPO allotments. "As long as the interbank seven-day repurchase rate stays below 3 to 4 percent, we can make profits by subscribing to new shares," a Shanghai-based fund manger said, who refused to be named. The investors' feverish penchant for newly listed stocks saw Sichuan Expressway Co soar 202 percent on debut. The bourse suspended trading in the scrip for two times to allow for a cooling off period on the first day. The company's issue price was 3.6 yuan, nearly 20 times the PE (price-to-earnings) ratio. After collective bidding, the opening price soared to 7.6 yuan and the shares finally closed at 10.9 yuan after touching a high of over 15 yuan. The high price was beyond the expectation of many analysts. According the reports from 23 securities firms, most analysts thought the reasonable price could be around 5 yuan. Guotai Junan Securities Co was the most optimistic, which estimated the shares could be worth around 7 yuan. The shares subsequently began to slump and closed at 9.81 yuan, with many individual investors burning their figures. According to the Shanghai Stock Exchange, individual investors were the main buyers for the new shares of Sichuan Expressway on its first trading day. Among the 74,000 accounts that bought shares on that date, about 99.9 percent was personal accounts. Institutional investors, including fund mangers, securities firms and insurance companies, did not join the speculation. According to CSRC Chairman Shang Fulin, the regulators are working on a plan to educate individual investors and also exploring effective mechanisms to protect investors' rights.
UNITED NATIONS, Sept. 24 (Xinhua) -- Chinese President Hu Jintao on Thursday made a five-point proposal for building a safer world for all through nuclear non-proliferation and disarmament. During an address at the U.N. Security Council nuclear summit, Hu said "nuclear proliferation remains a pressing issue and nuclear disarmament a long and arduous task." "To realize a safer world for all, we must first and foremost remove the threat of nuclear war," he said. The Chinese president called for efforts be made in the following five areas: Chinese President Hu Jintao (Front) addresses the Summit on Nuclear Non-Proliferation and Nuclear Disarmament at the United Nations headquarters in New York Sept. 24, 2009. The U.N. Security Council on Thursday unanimously adopted a resolution to stop the proliferation of nuclear weapons in a bid to seek a safer world for all, and to create conditions for a world without nuclear weapons First, to maintain global strategic balance and stability and vigorously advance nuclear disarmament: All nuclear-weapon states should fulfill in good faith obligations under Article VI of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), and publicly undertake to not seek permanent possession of nuclear weapons. "Countries with the largest nuclear arsenals should continue to take the lead in making drastic and substantive reductions in their nuclear weapons," he said. To attain the ultimate goal of complete and thorough nuclear disarmament, the international community should develop, at an appropriate time, a viable, long-term plan composed of phased actions, including the conclusion of a convention on the complete prohibition of nuclear weapons, he said. Second, to abandon the nuclear deterrence policy based on first use and take credible steps to reduce the threat of nuclear weapons: "All nuclear-weapon states should make an unequivocal commitment of unconditionally not using or threatening to use nuclear weapons against non-nuclear-weapon states or nuclear-weapon-free zones, and conclude a legally-binding international instrument in this regard," Hu said. In the meantime, nuclear states should negotiate and conclude a treaty on no-first-use of atomic weapons against one another. Third, to consolidate the international nuclear non-proliferation regime and prevent the proliferation of nuclear arms. "All countries should join the NPT and real efforts should be made to uphold and enhance its authority and effectiveness. The function of the International Atomic Energy Agency (IAEA) in safeguards should be strengthened," Hu said. All countries should strictly comply with non-proliferation obligations, refrain from double standards, and tighten and improve export controls to prevent proliferation. Fourth, to fully respect the right of all countries to the peaceful use of nuclear energy and carry out active international cooperation: "Developed countries should actively assist developing countries in developing and using nuclear energy for peaceful purposes. The IAEA should increase input to promote technical cooperation and assistance in nuclear power, nuclear safety and security, and nuclear technology application," Hu said. The IAEA should increase input to promote technical cooperation and assistance in nuclear power, nuclear safety and security, and nuclear technology application. And, fifth, to take strong measures to enhance nuclear security and reduce nuclear risks: "Countries should act in strict observance of all international legal instruments governing nuclear security, take credible steps to ensure the security of their nuclear facilities and materials, and prevent the diversion of nuclear materials with effective means," he said. The international community should intensify cooperation and combat nuclear terrorism through concerted efforts. The Chinese leader reiterated his country's firm commitment to a nuclear strategy of self-defense. "We have adhered to the policy of no-first-use of nuclear weapons at any time and under any circumstance, and made the unequivocal commitment that we will unconditionally not use or threaten to use nuclear weapons against non-nuclear-weapon states or nuclear-weapon-free zones," he said. Hu also urged the international community to do the following to build a safer world: -- Foster a peaceful and stable international environment, resolve international disputes through peaceful means, and increase the sense of security for all countries. Promote development, eradicate poverty, and remove the root causes of conflict and instability. -- Fully respect and accommodate the legitimate and reasonable security concerns of all countries, refrain from pursuing one's own security at the expense of others, and ensure security for all through win-win cooperation. -- Build state-to-state relations of mutual understanding and mutual trust, resolve differences and dispel misgivings, and conduct dialogues and cooperation on an equal footing. -- Adhere to multilateralism. Consolidate the collective security system with the United Nations at its core and make the system more just and reasonable so that it can play a robust role in international security cooperation. Hu was in New York for a series of U.N. meetings. He was scheduled to attend a financial summit of the Group of 20 in Pittsburgh on Thursday and Friday.
BEIJING, Oct. 2 (Xinhua) -- A senior Chinese leader has called on all security staff to provide zero-mistake security guarantee for the week-long National Day holiday. Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited a command center in Beijing Thursday afternoon to learn about the overall social security condition across the country. Zhou Yongkang (C), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, pays regards to security personnel in Beijing, China, Oct. 1, 2009."Festive air can be found in every corner of the country," said Zhou, who was in charge of law enforcement. He attributed the overall stable situation to the police's hard work and expressed his appreciation to them. He also expressed his gratitude to security volunteers, with the oldest being 75 years old. "Only by mobilizing the masses can we form a strong fortress for national security and social stability," he said. On Thursday morning, Zhou visited security staff ahead of the grand celebration marking the 60th founding anniversary of the People's Republic of China (PRC) and asked them to do their best to ensure a smooth organization of all activities. China staged a grand military parade and massive celebration in Tian'anmen Square at the heart of Beijing Thursday to mark the 60th founding anniversary of the PRC.