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BEIJING, April 1 (Xinhua) -- Chinese equities closed 1.47 percent up Wednesday to stand at 2,408.02 points, surpassing the 2,400 points mark, echoing the overnight Wall Street rebound.     The Shanghai Composite Index gained 34.81 points, or 1.47 percent to 2,408.02. The Shenzhen Component Index rose 174.06 points, or 1.94 percent to 9,156.01.     Gains outnumbered losses by 675 to 183 in Shanghai and 599 to 140 in Shenzhen.     Combined turnover expanded to 250.67 billion yuan (36.68 billion U.S. dollars) from 200.03 billion yuan on the previous trading day.     Coal shares boosted the index up, as there were reports Monday that the government might consider raising the coal price by 4 percent.     China Shenhua Energy, the country's leading coal producer, gained 5.8 percent to 21.9 yuan, while China Coal jumped 5.65 percent to 9.17 yuan.     The benchmark Shanghai Composite Index continued the upward trend of the previous trading day and touched a 2422.63 points intra-day high Wednesday, exceeding the previous intra-day high of 2402 points on Feb. 17.     Zhang Yunpeng, an analyst with Beijing-based Huarong Securities, said investors should not be overly optimistic about the continuing rebound, as the turnover in recent days was lower than that in mid-February, which suggested that some investors were still cautious.     China's top banking regulator Liu Mingkang said Tuesday the government would require foreign banks taking stakes in domestic commercial banks to hold those stakes for at least five years, rather than three as at present, to reduce risks for local banks.     Zhang said this was a piece of positive news for Chinese bank stocks for the long run, as this move would help stabilize their share prices.     The Industrial and Commercial Bank of China, China's top lender, rose 0.76 percent to 3.97, while the China Construction Bank, the country's second largest commercial lender, gained 0.47 percent to 4.32 yuan.     Chongqing Iron and Steel Co. rose 1.24 percent to 4.91 yuan, after the steel producer reported a 33.18 percent growth in net profit to 598.3 million yuan last year in its annual report released Wednesday.

BEIJING, April 15 (Xinhua) -- China and New Zealand should work together to deal with the international financial crisis, said Chinese Premier Wen Jiabao on Wednesday. "This would benefit both countries and the region as well," Wen told visiting New Zealand Prime Minister John Key. Chinese Premier Wen Jiabao (R) shakes hands with New Zealand's Prime Minister John Key at the Great Hall of the People in Beijing, capital of China, April 15, 2009.     Wen said Sino-New Zealand relations was "at its best in history." adding to the Free Trade Agreement (FTA) signed last October has greatly boosted bilateral trade and economic cooperation and brought about concrete benefits to the two peoples.     Wen proposed the two countries continue high-level exchanges of visits to improve political trust. Chinese Premier Wen Jiabao (front L1) welcomes visiting New Zealand's Prime Minister John Key (front L2) at the Great Hall of the People in Beijing, capital of China, April 15, 2009He urged the two sides to use the advantage of the FTA to expand cooperation in the areas as agriculture, forestry, stock raising, environmental protection, clean energy and food safety.     Wen also called upon the two countries to promote personnel exchanges and coordination in the international organizations.     Key said New Zealand remains committed to developing relations with China and would take the chance of implementing the FTA to expand bilateral cooperation in agriculture, stock raising and science and technology.     The prime minister said New Zealand and China should stand firmly against trade and investment protectionism and advance the Doha round of negotiations.     After the talks, the two leaders witnessed the signing of agreements on cooperation in information and tourism.     Key is to head to south China's Hainan Province for the 2009 meeting of the Bo'ao Forum for Asia (BFA) from April 17 to 19.

SHIJIAZHUANG, April 9 (Xinhua) -- Beijing-based Sanyuan Group successfully bid 49 million yuan (7.2 million U.S. dollars) on Thursday to buy a 95-percent stake in the Sanlu (Shandong) dairy company, previously owned by the Sanlu Group, the bankrupt dairy firm at the center of the melamine contamination scandal.     The shares were put up for sale at an auction in the northern city of Shijiazhuang, capital of Hebei Province, according to sources with the Hebei Jiahai Auction Co. Ltd.     Four companies participated in the auction, which started at 10a.m., with the opening bid of 33 million yuan.     "The company is happy with the result," said a representative of Sanyuan after the auction, but he refused to comment further.     Sanlu (Shandong), which was set up in 2006, specializes in making and selling liquid milk products. The company changed its name to Shandong Ecological Pasture Co. Ltd. in October last year.     The other three bidders were Beijing investment consultancy Tongde Tongyi, a Hebei food company Xiangyao, and Wandashan dairy company in northeast Heilongjiang Province.     Auctioneer Yuan Guoliang told Xinhua that "the four bidders had clear idea about the value of the shares, and the atmosphere was tense."     However, the sale of a Sanlu's 70-percent stake in the Tangshan Sanlu company had been revoked just before the auction.     Sanyuan Group successfully bid 616.5 million yuan to buy Sanlu's core assets on March 4.     Sanlu Group, which was based in Shijiazhuang, had been China's leading seller of milk powder for 15 years until the melamine scandal broke in September last year. The group's revenue hit 10 billion yuan in 2007, when Sanyuan's revenue was only 1 billion yuan.

BEIJING, March 10 (Xinhua) -- Premier Wen Jiabao said here Tuesday China must deepen reforms and further open up as the country tackles economic woes.     The policy of reform and opening up is the key choice that determines the future of China in the contemporary era and the country's powerful weapon in fighting the global financial crisis, said Wen when joining a panel discussion with lawmakers from the Inner Mongolia Autonomous Region.     "The more difficulties we face, the more firmly we should stick to reforms and opening up," Wen told the lawmakers who are attending the annual session of the National People's Congress (NPC), the top legislative body. Chinese Premier Wen Jiabao (front R) joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Inner Mongolia Autonomous Region, in Beijing, capital of China, March 10, 2009.    The country should improve its development model with the spirit of reform and innovation and forge its advantage in international economic cooperation and competition by adhering to opening up, said Wen.     "Only by deepening reforms can we continuously perfect the socialist system and fully mobilize the enthusiasm and creativity of the people ... only by opening up can we learn from the achievements of human society and better tap the domestic and foreign markets and resources," he said.     Other senior leaders stressed more efforts for people's well-being and economic development Tuesday. Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from southwest China's Guangxi Zhuang Autonomous Region, in Beijing, capital of China, March 10, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, urged for a better "soft environment" for China's development including a clean and efficient government, a democratic and just judicial system, fair play in market competition, a safe and stable society, a comfortable and convenient life, a healthy and upright morality, a sustainable environment, and a social and cultural environment conducive for the growth of young people.     The government should strengthen the management of the Internet, radio and TV broadcasts, the publication market and campus environment to curb the spreading of "decadent, backward and vulgar" culture among the youth, Li said when joining a panel discussion with lawmakers from the Guangxi Zhuang Autonomous Region. A deputy to the Second Session of the 11th National People's Congress (NPC) from southwest China's Yunnan Province presents an ornament to Li Keqiang (front, L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, in Beijing, capital of China, March 10, 2009. Li Keqiang joined a panel discussion with deputies to the Second Session of the 11th NPC from southwest China's Yunnan Province on TuesdayVice Premier Li Keqiang told NPC deputies from the southwestern border province of Yunnan that economic development and people's welfare concerns social stability.     He urged local governments to spare no efforts in creating jobs, and improving low-income housing, rural infrastructure and ecological protection. He Guoqiang (front, C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hainan Province, in Beijing, capital of China, March 10, 2009When joining discussions with lawmakers from the southmost province of Hainan, He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection, said the tropical island should give priority to planning and environmental protection in pursuing its goal of becoming a major international tourist destination. Zhou Yongkang (C), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joins a panel discussion with deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Qinghai Province, in Beijing, capital of China, March 10, 2009Zhou Yongkang, member of the Standing Committee of the CPC Central Committee Political Bureau, underscored ecological protection, ethnic unity and social harmony when discussing with NPC deputies from the northwestern Qinghai Province.     Qinghai must be more aggressive in developing environmentally-friendly industries, increase the revenues of farmers and herdsmen and improve education in ethnic minority areas, said Zhou.

WASHINGTON, March 19 (Xinhua) -- The United States and China on Thursday agreed to continue to use and further develop those regular exchange mechanisms established before to facilitate parliamentary exchanges between the two countries.     The consensus was reached during a meeting between Speaker Nancy Pelosi of the U.S. House of Representatives and a delegation of China's National People's Congress (NPC), headed by Chairman Li Zhaoxing of the NPC Foreign Affairs Committee.     Both sides spoke positively of the important roles that the Congress and NPC have played in the growth of China-U.S. relationship through inter-parliamentary exchanges and cooperation.     The two sides also exchanged views over issues of common concern such as energy and climate change.