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GUANGZHOU, Aug. 23 (Xinhua) -- Pakistani President Asif Ali Zardari said here Sunday that Pakistan attached importance to economic cooperation with Guangdong Province.     Zardari made the comment during his visit to Guangzhou, capital of south China's Guangdong Province, the second leg of his ongoing China tour. Wang Yang (2nd R), member of the Political Bureau of the Central Committee of the Communist Party of China (CPC) and secretary of the CPC Guangdong Provincial Committee, meets with visiting Pakistani President Asif Ali Zardari (2nd L) in Guangzhou, capital of south China's Guangdong Province, on Aug. 23, 2009Pakistan's investment environment is becoming better with improved infrastructural facilities, said Zardari, adding that he welcomes Guangdong's entrepreneurs to invest in Pakistan and Pakistan could serve as a gateway to the South Asian and European market.     Wang Yang, member of the Political Bureau of the CPC Central Committee and Party head of Guangdong, met with Zardari on Sunday.     He said, as an important country in the South Asia, Pakistan enjoys longstanding traditional friendship with China. The two countries have established all-weather friendship and Strategic Partnership of Cooperation.     Pakistan has always shown understanding and support for China on major issues concerning our core interests and we highly appreciate that, said Wang. Wang Yang (R, Front), member of the Political Bureau of the Central Committee of the Communist Party of China (CPC) and secretary of the CPC Guangdong Provincial Committee, meets with visiting Pakistani President Asif Ali Zardari (L, Front) in Guangzhou, capital of south China's Guangdong Province, on Aug. 23, 2009.Wang termed Zardari's Guangdong visit as a practical trip, saying his attendance of the Pakistan-Guangdong Trade and Investment Opportunity Forum would promote cooperation between Pakistan and Guangdong in such areas of investment, trade and agriculture.     This was Zardari's fourth visit to China since taking office last September.

BEIJING, July 24 (Xinhua) -- Chinese President Hu Jintao said Friday that the role of the United Nations should be bolstered in handling the global economic downturn, achieving sustainable development, and safeguarding world peace and security. As a permanent member of the UN Security Council and the largest developing nation, China has always observed the principles of the UN Charter, supported the UN's efforts to improve security, development and human rights and its reform to increase efficiency, Hu said to visiting UN Secretary-General Ban Ki-Moon Hu.     "China will continue to join in the UN undertakings and carry out its duties with responsive and constructive attitude, and will work with the international community to build a harmonious world," Hu said. Chinese President Hu Jintao (R) meets with UN Secretary-General Ban Ki-Moon in Beijing, China, July 24, 2009.    Ban Ki-Moon praised China's achievement in economic and social progress, as well as its contribution to overcoming world economic recession, food crisis and climate change.     Also on Friday afternoon, Ban presented at a seminar of senior Chinese officials who have taken part in UN workshops on advanced leadership, a capacity building program established in 2005.     Ban asked the officials, who came from various ministries, banks and state-owned companies, to put their knowledge learned in the workshops into practice.     He stressed the importance of tackling the international financial crisis and climate change with joint efforts from the international community, and suggested China establish a low-carbon economy.     Li Yuanchao, head of the Organization Department of the Communist Party of China Central Committee, lauded the UN workshops, and asked the world community to support the Chinese government's strive for harmony, pledging to enhance cooperation with the United Nations Development Program.     Chinese Foreign Minister Yang Jiechi also met with Ban on Friday.     Ban arrived in Beijing Thursday evening to have a four-day China trip with climate change atop his agenda.     Ban will travel on Saturday to northwestern city of Xi'an, an ancient Chinese capital, to continue his China tour.

BEIJING, Oct. 1 (Xinhua) -- Chinese President and Chairman of the Central Military Commission Hu Jintao on Thursday morning reviewed Chinese troops in central Beijing as the country celebrated the 60th National Day.     Standing in a black open-roof limousine on Chang'an Avenue, Hu was greeted by Fang Fenghui, commander-in-chief of the full-dress military parade. Fang reported: "Comrade chairman, assembly of the reviewing troops is completed, please review!"     Amid army songs played by a 1,300-member brass band, the home-made Red Flag limo drove eastward along Chang'an avenue, where Hu inspected 44 ground square formations composed of the three services of the People's Liberation Army (PLA), armed police, army reserves, and militia.     His car was followed by the limo of Fang Fenghui and an alternate one.     Wearing a high-collared Mao suit, Hu repeated salutes through a microphone: "Greetings, comrades!" and "Comrades, you are working hard!" The soldiers loudly replied: "Greetings, leader!" and "We serve the people!"     Twelve echelons of more than 150 warplanes are expected to fly over Tian'anmen Square during a military parade.

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.

BEIJING, Sept. 13 (Xinhua) -- China said on Sunday the U.S. decision to impose special protectionist tariffs on tire imports from China is grave trade protectionism and goes against its commitments made at the Group of 20 summit.     "We hereby express our strong discontentment and firm opposition to the U.S. decision, which was made regardless of China's solemn stance," Foreign Ministry spokeswoman Jiang Yu said in a statement.     U.S. President Barack Obama decided to impose a tariff on tires imported from China on Sept. 11, which will begin with a 35-percent duty the first year and decrease to 30 percent the second year and 25 percent the third year on passenger vehicle and light-truck tires from China.     "The United States, by making the decision, failed to honor its commitments made at the G20 financial summit and abused trade remedy measures, which is grave trade protectionism and will undermine the China-U.S. economic and trade ties as well as the early recovery of world economy," Jiang said.     China has lodged solemn representation to the U.S. side and reserves its right to take further actions, Jiang said.