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GUANGZHOU, Oct. 18 (Xinhua) -- Continuous severe drought over the past months has stunted rice crop, threatened reserviors and left hundreds of thousands of people short of drinking water in southern Chinese provinces. In the southern Guangdong Province, where the precipitation in the first 10 months this year has reported a 14 percent drop compared with the average level of the past years, more than 55,000 hectares of cropland are affected and 50,000 people are facing difficulties in getting drinking water because of the drought. Water level in Guangdong's reservoirs continued to drop. According to Guangdong Provincial Flooding and Drought Relief Headquarters, the water conservancy in Guangdong's 32 key reservoirs has reported a year-on-year decrease of 2.34 billion cubic meters. The drought is continuing to take a toll on agricultural production in the province. "I have never seen such a severe drought in my life," said a 73-year-old farmer in Zhoutian Township, Shaoguan City. "A great deal of crops have been damaged." There have also been concerns of further crop damage as drought harms crop's ability to weather the winter. In Nan'ao Island in Shantou City, home to more than 70,000 people, drought has brought inconveniences to local residents' daily bath and laundry. The drought has left more than 70,000 people in Zhangzhou City in the southeastern Fujian Province short of drinking water. Local hydraulic experts attribute the water shortage to the lingering drought as well as the water conservancy facilities' construction which lagged far behind the industrialization and urbanization. In the central Hunan Province, low water level in Dongting Lake, China's second largest fresh water lake, has forced local fishermen into idle. "October used to be a 'golden season' for fishing in the lake," said Gong Jianmin, a local fisherman. "But now we cannot go out to fish since the low water period has come early this year because of the drought." In the eastern Jiangxi Province, the average precipitation since Sep.1 has seen a year-on-year 66-percent drop. Most cities and counties in Jiangxi have reported drought.
BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED). It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market. China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations. The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet. From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises. Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said. The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said. The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II. In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust. "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet. The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said. Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters. "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said. The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation. The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.

XI'NING, Aug. 25 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for more efforts to promote development of the country's western regions during a visit to northwest China's Qinghai Province. More efforts should be made to tap the advantages of local industries and adjust the economic structure, Li said during a visit that started Sunday and included factory workshops, farms and rural households. In Qinghai Arura (Jinhe) Tibetan Medicine Company Limited, Li saw the company's efforts to process local agricultural products. Chinese Vice Premier Li Keqiang (R) talks with villagers of Hongju Village, Huzhu Tu Autonomous County, northwest China's Qinghai Province, Aug. 24, 2009. Li Keqiang inspected Qinghai Province from Aug. 23 to Aug. 25 He visted Yiwa Ethnic Clothes Manufacturing Plant and Xining Special Steel Company Limited and urged them to improve technologies and meet market demand. "The western regions have huge market demand and growth potential. It is important to carry on the policy to develop western regions and support ethnic regions to promote regional economic and social development," Li said. Chinese Vice Premier Li Keqiang (C) visits villagers of Xiaozhuang Village, Huzhu Tu Autonomous County, northwest China's Qinghai Province, Aug. 24, 2009At Qinghai Salt Lake Industry Group Company Limited, Li said technological innovation was needed to tap resources in western regions as well as infrastructure construction and environmental protection. Li urged local governments in Haidong, eastern Qinghai, to fully implement the country's policies to promote agricultural growth in ethnic and rural regions and increase peasants' income. Li talked with villagers of different ethnic groups in a village in Haidong and urged local officials to help improve living standards and care for the disadvantaged.
BEIJING, Oct. 15 (Xinhua) -- China's power consumption in September continued to rise with a faster increasing rate, according to China's National Energy Administration (NEA) on Thursday. Power consumption in September rose 10.24 percent from the same month last year to 322.41 billion kilowatt hours last month. The increasing rate was 2 percentage points up from that of August. Accumulative power consumption in the first nine months topped 2.66 trillion kilowatt hours, an increase of 1.4 percent over the same period last year. In the first three quarters, power consumption of the primary industry which covers agriculture, animal husbandry and fishery, added 6.35 percent from a year earlier to 72.5 billion kilowatt hours. The second industry, including mining, manufactural, building and construction sectors, consumed 1.95 trillion kilowatt hours, representing a decrease of 1.67 percent over the same period last year. Power consumption in the service sector climbed 11.26 percent year on year to 293.5 billion kilowatt hours in the first three quarters.
BEIJING, Sept. 17 (Xinhua) -- The first seven companies applying for listing on the Growth Enterprise Market (GEM), a Nasdaq-alike market in China, have got green lights from the country's securities regulator on Thursday. They are in the fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars), from the IPOs, according to China Securities Regulatory Commission (CSRC). "This means the seven enterprises are eligible to list on the market, but they still have some flaws in information issuance, which need to be improved," said Jiang Xinhong, a member of the review commission. The flaws don't hinder the listings, but these enterprises should go through some necessary procedures before getting listed, said the CSRC. The CSRC had received 155 applications for IPOs on the GEM as of Sept. 10, since it started to accept applications of the GEM on July 26.
来源:资阳报