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BEIJING, July 7 (Xinhua) -- Agricultural Bank of China (ABC), the last of the country's largest four banks to go public, announced Wednesday that it has set its A-share initial public offering (IPO) price at 2.68 yuan per share, hitting the high end of its IPO price range.The pricing of the shares means the bank could raise up to 10.12 billion U.S. dollars via the Shanghai portion of the IPO, as a greenshoe option has been exercised to expand the deal by 15 percent to 25.57 billion shares, ABC said in a statement filed with the Shanghai Stock Exchange.ABC plans a dual listing in Shanghai and Hong Kong in mid-July to replenish its capital base after a lending spree last year.It has yet to set the final IPO price for its Hong Kong portion, where it plans to sell 25.41 billion shares, excluding an over-allotment option.ABC set the price range for the Hong Kong portion at 2.88 to 3.48 HK dollars in late June.
BEIJING, July 10 (Xinhua) -- Vice Premier Wang Qishan said here Saturday the Chinese government would continue the reform and opening-up drive to create a favorable environment for foreign businesses.Wang made the promise when meeting with a delegation of Japan' s Association for the Promotion of International Trade (JAPIT) led by its chairman Yohei Kono, who is also former speaker of the Japanese House of Representatives.Wang spoke highly of the JAPIT' s contribution to promoting the Sino-Japanese friendship and the bilateral economic cooperation.He said Sino-Japanese economies were highly complementary, and China and Japan should increase cooperation in energy conservation, environmental protection, electronic and manufacturing sectors to promote their strategic and mutually beneficial relations.Kono spoke highly of the Chinese government' s efforts to cope with the international financial crisis, saying that the Japanese business community was willing to strengthen cooperation with China in economy, trade and investment.The JAPIT delegation is visiting China at the invitation of the Chinese Council for Promoting International Trade.

NEW YORK, July 2 (Xinhua) -- In celebration of the 2010 Shanghai World Expo, Nasdaq OMX held a special ceremony and showcased the expo in the heart of Times Square on Friday.Baodong Li, China's Plenipotentiary and Permanent Representative to the United Nations, and Keyu Peng, Consul General of Chinese Consulate General in New York, attended Friday' s opening ceremony at the Nasdaq MarketSite in Times Square.Classical musician Lang Lang, the global promotion ambassador of the Shanghai World Expo, rang the opening bell. Li Baodong (L3), the Chinese ambassador to the UN, Peng Keyu (R2), China's consul general in New York, Chinese pianist Lang Lang (L4), who is also a goodwill ambassador of the Shanghai Expo, and Robert McCooey (R3), Senior Vice President of New Listing and Capital Markets of NASDAQ OMX, stand for group photo in front of a screen at Nasdaq in New York, July 2, 2010. Lang Lang rang the bell for the opening of Nasdaq Friday to promote the ongoing Shanghai World Expo.On July 13th, Lang Lang will perform with the Shanghai Symphony Orchestra and the New York Philharmonic as they launch their 2010 Concert in Central Park. It is the first time ever that the two orchestras will share the stage during New York's famed summer Parks series.Nasdaq will also display celebration messages dedicated to the Shanghai World Expo on its big screen in Times Square all day Friday.
BEIJING, June 23 (Xinhua) -- China's government is to step up efforts to strengthen administration by law and to raise its executive ability and credibility, said a government statement Wednesday.Some local governments and departments had prominent problems of defying the law in administration and greater efforts must be paid to build government by law, said the statement released after an executive meeting of China's State Council, or Cabinet, which was chaired by Premier Wen Jiabao Wednesday.The making of major policies must be subject to procedures such as soliciting of public opinions, consultations with experts, risk analysis, legality assessment and group decision-making, it said.The government must optimize the system of public opinion solicitation in drafting administrative laws and regulations, and enforce the law in a strict, just way, it said.The statement said public supervision of the government must be strengthened by making government affairs more transparent and ensuring the rights of the public and the media to report wrongdoing.The government must fully implement of the policy of holding officials accountable for any malpractice or dereliction of duty, it said.The government must also play a greater role mediating disputes and actively guide the public to appeal and settle disputes in accordance with the law.
UNITED NATIONS, July 7 (Xinhua) -- China on Wednesday called on the UN Security Council to address the root cause of the armed conflicts in order to better protect civilians in such conflicts, which often took place in regions with backward economic and social conditions.The statement came as Wang Min, the deputy Chinese permanent representative to the United Nations, was taking the floor at an open Security Council debate on the protection of civilians in armed conflicts."As the organ which has the primary responsibility for the maintenance of international peace and security, the Security Council is duty bound to address the issue of the protection of civilians in armed conflicts," Wang said.China supports the Security Council in its efforts to strengthen the protection of civilians in armed conflicts, he said, voicing his deep concerns with the fact that civilians are the subject of threat and violations in armed conflicts."The Security Council should pay attention to the root cause of the problem and invest more energy in preventing and controlling conflicts," he said. "At the same time, efforts should be made to put the protection of civilians in armed conflicts into the overall framework of the political process for the peaceful settlement of conflicts.""The responsibility for the protection of civilians lies primarily with national governments," he said. "While the international community provides constructive assistance, it must do so in compliance with the UN Charter, respect the sovereignty of the countries concerned and avoid the interference of their international affairs.""On the issue of impunity, we are in favor that the domestic judicial system of the countries concerned can play the role of the main channel," he said.At present, the key is to ensure the comprehensive, equitable and effective implementation of the whole set of international law and rules that are already put in place in the field of protecting civilians in armed conflicts, he said, adding that relevant UN and treaty organs can continue to play an important role in this regard.
来源:资阳报