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FLORENCE, Italy, July 7 (Xinhua) -- Visiting Chinese President Hu Jintao said Tuesday that China highly values its relations with Italy and is willing to broaden consensus and deepen pragmatic cooperation with the country in various fields. Bilateral relations have developed smoothly since China and Italy established diplomatic relations 39 years ago, Hu said at a meeting with senior Italian officials, including Culture Minister Sandro Bondi and Toscana Region's President Claudio Martini.     He added that the two countries have further deepened their cooperation in politics, economy, culture and other fields especially since they set up an all-around strategic partnership in 2004. Chinese President Hu Jintao (R) meets with Giancarlo Galan, president of Italy's Veneto region, in Venice, Italy, on July 7, 2009    On regional cooperation between the two countries, the president said he is convinced that with the joint efforts from both sides, new achievements will be made in cooperation between Toscana Region and relevant regions in China.     Bondi and other Italian officials welcomed Hu's visit to Florence, capital of Toscana Region, and said they were inspired by China's development over the past years and would enhance exchanges with China so as to bring the friendly relations at the local level to a new height.     Italy will actively participate in the 2010 Shanghai World Expo and strive to ensure the "Chinese Culture Year" next year in Italy a success, the officials added.     Hu arrived in Rome on Sunday for a state visit to Italy.

BEIJING, April 29 (Xinhua) -- A senior official of China's Ministry of Commerce (MOC) said Wednesday that China might organize another procurement delegation to Europe, and France might also be one possible stop on the delegation's tour.     Wu Xilin, head of the outward investment and economic cooperation department of the MOC, told reporters Wednesday that the exact time and countries to visit were under discussion.     Chen Deming, China's Commerce Minister, led a Chinese buying team to visit Germany, Switzerland, Spain and Britain this February.     Procurement agreements worth more than 13 billion U.S. dollars were signed during the trip.

BEIJING, July 1 (Xinhua) -- China's latest fuel price hike from Tuesday would certainly pinch the pockets of consumers, but may not leave a lasting impact on the nation's economic recovery, analysts said.     Gasoline, diesel and jet fuel prices in the country were raised by as much as 11 percent from Tuesday, the third increase this year and the second in June, to reflect recent price changes in the global oil market.     For many like the 24-year-old fashion writer He Yi, it is time to tighten their purse strings, Wednesday's China Daily reported.     He said she is determined to use less air-conditioning when driving, despite the scorching heat in Beijing.     According to a survey by the Chinese web portal Sina.com, more than 90 percent of the 180,000 respondents said they had decided to drive less in response to the price hike, and more than 94 percent thought fuel prices are too high now.     Pump prices for 90 octane gasoline in Beijing was set at roughly 5.71 yuan a liter, or about 3.16 U.S. dollars a gallon, the National Development and Reform Commission, the nation's top economic planning agency, said in a statement on its website late Monday.     That compares to an average of 2.69 U.S. dollars a gallon in the United States, according to Bloomberg.     China's retail fuel prices are controlled by the government under a mechanism introduced in December that takes into account of crude prices, taxes and a profit margin for refiners.     The country may adjust fuel prices when crude prices change more than 4 percent over 22 straight working days. Crude oil futures have risen 60 percent to more than 70 dollars a barrel this year from a July record on signs of a global recovery.     However, economists and analysts believe this round of price hike will not have any direct and obvious impact on the Chinese economy, which is largely fueled by coal.     "As China only needs oil to supply 20 percent of its energy consumption, costlier oil will not make things as bad as costlier coal," said Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University.     "However, the economy will be hurt if higher crude prices drive up coal prices," Lin said.     In addition, China's consumer prices fell for a fourth month in May, making it easier for the government to raise oil prices, said Niu Li, senior researcher at the State Information Center.     The price hike comes amid a surge in demand for automobiles in the world's third-largest economy. Passenger car sales rose 47 percent in May to 829,100 units, the biggest jump since February 2006.     Chen Zheng, an auto industry analyst with China Securities Co, believed that consumer demand would not be seriously dampened by this round of price hikes, as China's car owners are largely social elites, who can afford the moderate increases in gasoline prices.     "But if oil prices continue to surge, I'm sure many people will stop buying new vehicles, especially the high-emission cars," Chen said.     PetroChina and Sinopec, two major oil producers, went high shortly after opening, but closed with smaller gains, up 0.28 percent and 0.66 percent to 14.48 yuan and 10.66 yuan respectively in Shanghai Tuesday.

BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery.     The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008.     The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan    "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules."     Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year.     The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22.     "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps."     Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan.     Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs.     "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong.     "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said.     China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy.     The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues.     CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan.     Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus.     Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.

URUMQI, July 9 (Xinhua) -- The Chinese government and the Communist Party of China (CPC) will severely punish the outlaws in the Xinjiang riot, and restore normal social order in the region as soon as possible, senior Chinese leader Zhou Yongkang said here Thursday.     Authorities would take stability as their top priority at hand, and crack down hard on violence, in accordance with laws to protect the lives and property of people of all ethnic groups, and safeguard ethnic unity, said Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, visits Aygul, an injured woman of minority group, at a military hospital in Urumchi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 9, 2009. Zhou started an inspection tour in Xinjiang on Thursday.At least 156 people were killed and more than 1,000 injured in the riot on Sunday in Urumqi, capital city of the Xinjiang Uygur Autonomous Region.     When visiting civilians injured in the riot Thursday afternoon at a military hospital, Zhou Yongkang promised that violent outlaws in the deadly riot would receive severe punishment in accordance with China's laws, and that the normal order would be restored. Zhou Yongkang (R, front), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, shakes hands with a policeman on duty in Urumchi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 9, 2009. Zhou started an inspection tour in Xinjiang on Thursday.He urged medical workers to provide better treatment to the injured, and save the lives of those in serious conditions "at all cost".     Zhou also called on troops and police officers on duty in Urumqi to enforce the laws justly, and "crush any attempt by hostile forces from home and abroad".