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Shanghai - The Shanghai World Financial Center, the highest building on the mainland, was topped out on Friday.The Shanghai World Financial Center on the way up, at different stages of construction. The 101-story building, the highest on the mainland, was topped out on Friday. Niu Yixin"The 101-floor office tower is expected to be completely finished in the spring of 2008," said Sun Wenjie, general manager of China State Construction Engineering Corp.The Shanghai skyscraper is located in the prime Lujiazui zone in Pudong on a 30,000-sq-m site.With an overall construction area of 381,600sqm, the Shanghai World Financial Center will be one of the tallest buildings in the world at 492 meters. That's 70 meters higher than Jinmao Tower, formerly the highest on the Chinese mainland.Japan's Mori Building Co and 40 other foreign companies will invest a total of 8 billion yuan in the development."As the economy warms up, we are more confident about Shanghai and the whole of China," said Hiroo Mori, president of the Shanghai World Financial Center Co, a subsidiary of Mori Building Co Ltd.The building is expected to become home to high-profile international businesses, department stores, art galleries, clubs and a five-star hotel."As China's economy roars ahead, more capital and businesses are expected to flow into the country, especially to Shanghai. The city aims to become a world center for trade and finance - with Lujiazui as its showpiece," said Mori.Lujiazui will have three tall buildings, one of which is the completed Jinmao Tower, each rising above 400 meters. The buildings were planned by local government after an international design competition in the early 1990s.The Shanghai World Financial Center will be the "mountain peak" of the city's skyline, with neighboring buildings descending in height on either side.Mori said the design and technology used in the construction of the building should allay any safety fears.Beams will be used to connect the outer supports and the internal elevator area instead of bolts, as were used in the World Trade Center in New York City."We will use welding to fasten the frame and the triangular construction will enhance its stability," Mori said.Construction of the building began in 1997, but was stopped shortly after because of financial problems brought about by the Asian financial crisis. Building work resumed in 2003.
BEIJING, March 25 (Xinhua) -- China's upcoming growth enterprise board for small start-ups to raise funds is no threat to the main stock market, Yao Gang, new vice chairman of the China Securities Regulatory Commission (CSRC), said here Tuesday. His comments followed continuous declines in China's bourses partly caused by fears of capital shortages after a series of restraining measures and huge refinancing. "The market is not short of money but of better and more attractive investment products," said Yao in an online interview. CSRC statistics showed the average market capitalization of the222 companies listed on the Shenzhen small and medium-sized enterprises (SMEs) board was only 300 million yuan. The number would be even lower, ranging from 100 million to 200million yuan, on the growth enterprise board, he said. Therefore the capitalization of listing 100 such enterprises would only match one major enterprise on the Shanghai Stock Exchange, he said. The CSRC began to solicit opinions on the growth enterprise board on March 21. Shang Fulin, CSRC chairman, said in January the board would be opened on the Shenzhen Stock Exchange in the first half of 2008. Lack of finance has been a problem for China's 42 million small and medium-sized enterprises, more than 95 percent of which are privately owned. Less than 2 percent of the SMEs access funds directly from the financial market, according to statistics from the National Development and Reform Commission.

BEIJING, March 7 (Xinhua) -- Chinese President Hu Jintao met here on Friday with former U.S. President George Bush. Hailing the progress of China-U.S. relations in recent years, Hu said that to develop healthy, stable bilateral ties was in the common interest of both sides and had great significance for peace and development of the Asian-Pacific region and the world at large. China was willing to properly handle divergence and major concerns through dialogue and beef up bilateral exchanges and cooperation on the basis of mutual respect, equality and mutual benefit, Hu said. He said that he appreciated Bush's efforts to boost China-U.S. friendship. He also briefed the former U.S. leader about China's stance on the Taiwan issue and its preparations for the Beijing Olympic Games. Calling U.S.-China relations one of the world's most important bilateral ties, Bush said that he was happy with the development of the progress of bilateral relations and expressed confidence that there would be even closer ties with China. Chinese President Hu Jintao (R front) meets with former U.S. President George Bush in Beijing, capital of China, March 7, 2008 As the honorary president of the U.S. delegation for the Olympic Games, Bush said he expected to be back in China in August to watch the Games. Calling the Olympics a world sports festival, Bush said that he opposed politicizing the event and expected a complete success for the Games.
China will contribute about 10 billion yuan (.4 billion) to the International Thermonuclear Experimental Reactor (ITER) project, construction of which will begin in France this year.The figure represents about 10 percent of the project's cost.About half of China's contribution will be spent during the 10-year construction phase of the multination undertaking, sources at the Oriental Science and Technology Forum, held in Shanghai last weekend, said."The goal of the project is to find a shortcut to solve our energy shortage," Luo Delong, deputy director of the ITER China Office, told the forum.He said Chinese researchers will be in charge of building components such as heating, diagnostic and remote maintenance equipment, as well as transporting it to Cadarache in the south of France, where the ITER reactor will be built.ITER, which means "the way" in Latin, is an 11-billion-euro (.5 billion) experiment to study the scientific and technical feasibility of the world's most advanced nuclear fusion reactor. The device is described as an "artificial sun" as it will create conditions similar to those occurring in solar nuclear fusion reactions.If successful, the project could generate infinite, safe and clean energy to replace fossil fuels such as oil and coal, and will be 30 times more powerful than the Joint European Torus (JET), the largest comparable experiment.The ITER project was first initiated by the United States and the then Soviet Union in the mid-1980s. Today, it involves the European Union (EU), the US, Japan, Russia, the Republic of Korea, China and India. China joined in February 2003.The ITER Agreement, signed in November 2006, came into effect last October and has an initial duration of 35 years, though it could be extended for an additional 10 years.Under the agreement, the EU will be responsible for half of the construction costs, while the other five parties excluding India, will contribute equally to cover the remaining expenses.Earlier reports said China would send 30 scientists to France during the construction phase. At the moment, more than a dozen scientists and managers are already working at Cadarache, and more will soon join them.Russia, France and Japan have all developed similar experimental fusion reactors.China became the first country to build a superconducting experimental Tokamak fusion device in September, after successfully completing a series of trials in Hefei, capital of Anhui Province. Despite this success, China still faces a shortage of talent in the field. Scientists and researchers have called for increased efforts to train more scientists to improve the nation's research capabilities.
BEIJING, March 12 (Xinhua) -- Financial operations of loan growth in China was steady in February with increasing individual deposits, the People's Bank of China reported on Wednesday. Outstanding renminbi deposits among the country's financial institutions reached 40.49 trillion yuan (5.70 trillion U.S. dollars) in February, up 17.22 percent in comparison to the same period last year. The growth was 2.10 percentage points higher than January, the central bank said in a statement. In February, the outstanding value of all renminbi loans of financial institutions hit 27.22 trillion yuan, up 15.73 percent compared with the same period last year. The growth was 1.01 percentage points lower than January, the central bank said. China's M2, the broad measure of money supply, reached 42.10 trillion yuan in February, up 17.48 percent from a year earlier. The increment was 1.46 percentage points lower than the number in January. The narrow measure of money supply, M1, rose 19.20 percent to 15.02 trillion yuan, but the increment was 1.52 percentage points lower than January.
来源:资阳报