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BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating.     The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China.     The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company.     The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong.     Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves.     Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong.     Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy.     Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.

BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs.     The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday.     An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective.     The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks.     The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices.     Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system.     Three revisions were made to the draft to follow public advices that the commission deemed reasonable.     The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks.     In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation.     However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets.     The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more.     The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing.     The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run.     A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares.     China State Construction Engineering Corp. is expected to issue12 billion shares.

TASHKENT, June 28 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said on Sunday that China is willing to expand cooperation with Uzbekistan on wide-ranging issues while meeting with Uzbek President Islam Karimov.     "Uzbekistan, as a country with important influence in central Asia, plays a major role in regional affairs, and developing a friendly partnership with Uzbekistan is one of the priorities of China's foreign policy," said Li.     "China is willing to work together with Uzbekistan to constantly solidify the friendship and political trust between the two countries, make efforts to expand pragmatic bilateral cooperation in all fields, and increase exchanges in culture, education, health and sports," he added. Chinese Vice Premier Li Keqiang (R) meets with Uzbekistan's President Islam Karimov in Tashkent June 28, 2009.    China also aims to enhance coordination and cooperation with Uzbekistan within multi-lateral frameworks like the United Nations and the Shanghai Cooperation Organization, said the Chinese official.     Li said China is thankful to Uzbekistan for its support on issues that were deemed critical to China's core interests and on other major issues and promised China will continue to support Uzbekistan for its efforts to defend national independence and sovereignty, develop its economy and safeguard its national security and stability.     On the global financial crisis, Li pointed out China has taken appropriate fiscal and monetary measures to spur economic growth and the Chinese economy is stabilizing.     He noted bilateral trade between China and Uzbekistan is still growing rapidly despite the financial crisis and suggested the two sides increase exchanges on government policies to help each other deal with the crisis.     Top leaders and senior officials of China and Uzbekistan have met on a regular basis in recent years. Chinese Vice Premier Li Keqiang (2nd R Front), accompanied by Uzbekistan's Deputy Prime Minister Ergash Shaismatov (1st R Front), visits Chkalov plane manufactory in Tashkent June 28, 2009. Chinese President Hu Jintao met with Karimov at the sidelines of the Shanghai Cooperation Organization summit held in the Russian city of Yekaterinburg earlier this month. The two also met during the 2008 Summer Olympic Games in Beijing.     Meanwhile, Chinese Premier Wen Jiabao paid his first official visit to Uzbekistan in November 2007 after attending a meeting of the prime ministers of the Shanghai Cooperation Organization countries held in the Uzbek capital Tashkent.     Karimov said he treated Li's visit to his country is another example of the close relations between the leaders of the two countries.     He said Uzbekistan values its relationship with China, admires China for its development.     He also expressed deep thanks to China for its longtime support and help.     The Uzbek president then outlined new areas for further cooperation between Uzbekistan and China.     "Uzbekistan and China have made major progress on bilateral economic and trade cooperation, but there is much potential for further developing and deepening that cooperation," he said.     He suggested the two countries explore new ways of cooperation, map out a medium and long-term framework for cooperation and enhance bilateral economic and trade cooperation in an all-around way through effective mechanism and joint projects of strategic importance.     He said Uzbekistan will continue to support China's position on issues related to Taiwan, Tibet and human rights and will work together with China to promote regional peace and stability.     Li arrived in Tashkent on Saturday for a three-day official visit to Uzbekistan. Uzbekistan is the last leg of his three-nation foreign tour which has already taken him to Turkmenistan and Finland. Chinese Vice Premier Li Keqiang (1st R) meets with Uzbekistan's President Islam Karimov (1st L) in Tashkent June 28, 2009

MOSCOW, May 29 (Xinhua) -- Russian President Dmitry Medvedev said on Friday that he is looking forward to meeting with Chinese President Hu Jintao next month during the Chinese leader's trip to Russia.     Medvedev, who met with Chinese State Councilor Dai Bingguo on Friday, said he and Hu will exchange views on major international and regional issues of common concern during their June meeting. Russian President Dmitry Medvedev (L, front) shakes hands with Chinese State Councilor Dai Bingguo (R) while meeting with security representatives of the BRIC countries (Brazil, Russia, India and China) in Moscow, Russia, May 29, 2009In addition to meeting with Medvedev, Hu also is scheduled to participate in summits of the Shanghai Cooperation Organization and the BRIC countries (Brazil, Russia, India and China) in Yekaterinburg.     Meanwhile, Medvedev said Russia-China relations enjoy sound momentum and that Russia is satisfied with the current state of bilateral ties between the two countries.     Dai, for his part, said Hu's state visit to Russia and attendance at the summits will be of great significance.     China, Dai said, is willing to work with Russia to take their strategic partnership to a higher level.