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BEIJING, Nov. 20 (Xinhua) -- China Petroleum and Chemical Corporation (Sinopec), China's largest oil refiner, said Friday it has suspended diesel exports to relieve shortages in the domestic market.Sinopec also said it is seeking to import 200,000 tonnes of diesel.PetroChina Co., China's largest oil producer, plans to import 200,000 tonnes of diesel. Some 35,000 tonnes of it has already arrived.Insiders said China's diesel output in the first nine months soared, prompting the two oil giants to expand exports.Sinopec attributed recent hikes in the domestic price of diesel to hoarding, seasonal factors, transport factors and energy-saving measures."The fundamental reason for the diesel shortage is the industry monopoly. Oil refiners are not keen to increase production because profit margins in the sector are relatively low," said Qi Fang, director of the Hebei Provincial Petroleum Industry Chamber of Commerce."The two oil giants operate on a planned-economy basis, resulting in an unbalanced supply-and-demand situation. Supply and demand can easily outstrip each other as government planning cannot keep pace with changes in the market," Qi said.Statistics from the General Administration of Customs show China exported 360,000 tonnes of diesel in October - only slightly lower than the 368,100 tonnes it exported in September - even as diesel shortages worsened.Diesel imports in October rose to 400,000 tonnes, up from 250,000 tonnes in September.

SHANGHAI, Nov. 16 (Xinhua) -- The death toll of a big fire that engulfed a high-rise building in downtown Shanghai had risen to 53 by 9:20 a.m. Tuesday, local authorities said.More than 70 people injured in the inferno are being hospitalized.The 28-story building at the intersection of Jiaozhou Road and Yuyao Road in Jing'an District, a densely-populated area in Shanghai, was being renovated when it caught fire at about 2:15 p.m. Monday.The fire was mostly extinguished at 6:30 p.m. after local authorities dispatched 25 fire units and more than 100 fire engines to the scene. Helicopters were sent to rescue people trapped on the roof.Firefighters use illuminating facility to search for survivors on the residential building in the downtown area of Shanghai, east China, Nov. 16, 2010. The death toll of a big fire that engulfed a high-rise building in downtown Shanghai had risen to 53 by 9:20 a.m. Tuesday, local authorities said. More than 70 people injured are being hospitalized. The cause of the fire remained unknown, but a witness said he saw construction materials burning before the fire climbed up the scaffolding and quickly spread.Jing'an District government has arranged food and accommodations for fire-affected residents evacuated to nearby hotels.Residents said the building, built in the 1990s, housed mainly teachers from several schools in Jing'an District, many of whom were retired.

TIANJIN, Dec. 31 (Xinhua) -- A subway train of six cars being assembled rolled off a production line Friday at a production base in north China's Tianjin Municipality, according to China South Locomotive & Rolling Stock Corporation (CSR).The subway train is the first of the kind ever produced at the CSR Tianjin Industrial Park, said CSR's chairman, Zhao Xiaogang.The train, designed to run at a speed of 80 km per hour, has a holding capacity of 1,800 passengers. It will will be used in Tianjin's Subway Line 3, which will begin service in 2011.The production base, with an initial investment of 3 billion yuan (455 million U.S. dollars), can produce 100 to 200 trains a year. It will attain a capacity of producing 500 trains annually in the next five years, according to Zhao.Analysts say the base's first product marked Tianjin's efforts to encourage the development of modern and more advanced industries in the city.The production base will boost the development of emerging industries in Tianjin and contribute to China's economic transformation, Zhao said.CSR, a state-owned company with more than 80,000 employees, produces about 70 percent of all high-speed trains China.

WASHINGTON, Jan. 18 (Xinhua) -- Chinese President Hu Jintao landed in the U.S. capital of Washington Tuesday for a four-day state visit aimed at enhancing the positive, cooperative and comprehensive relationship between China and the United States."I look forward to having in-depth discussions with President (Barack) Obama on China-U.S. relations and major international and regional issues of shared interest," President Hu said in a statement released upon his arrival at the airport.He said the purpose of his visit is to enhance mutual trust, promote friendship, deepen cooperation and move forward the positive, cooperative and comprehensive China-U.S. relationship for the 21st century.Chinese President Hu Jintao (C, front) arrives at Washington, the United States, on Jan. 18, 2011. Hu Jintao landed here Tuesday for a four-day state visit. "I also look forward to meeting American friends from various sectors to strengthen mutual understanding and friendship between our two peoples," he said.Noting that the international situation is undergoing profound and complex changes, Hu said China and the United States have growing common interests and responsibilities and enjoy broader prospect for cooperation.Hu said the long-term, sound and steady growth of China-U.S. relations is conducive to the fundamental interests of the Chinese and American peoples and to world peace and development.

BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.

来源：资阳报