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WUHAN, Aug. 27 (Xinhua) -- East Star Airlines, the debt-laden private airline based in central China's Wuhan City, officially went bankrupt after its restructuring application was rejected Thursday.     The Intermediate People's Court in Wuhan City said the plan submitted by the East Star Group and ChinaEquity was unfeasible and failed to meet the conditions for a legal restructuring.     ChinaEquity, an investment company founded in 1999 in Beijing, had promised to invest 200 million to 300 million yuan (29 million to 44 million U.S. dollars) for the restructuring plan.     However, it did not specify the source of the funding and failed to provide certificates and documents, and lacked measures to protect creditors, the court said.     The court said East Star Airlines had no operating income in 2008, while ChinaEquity recorded 470,000 yuan in main business income and a 187,477-yuan deficit last year. File photo taken on May 19, 2006 shows the aircrew boarding on the Airbus 319 jumbo jet of the Dongxing Group Co. Ltd for its maiden flight at the Tianhe International Airport in Wuhan, central China's Hubei ProvinceThe East Star Group and ChinaEquity agreed the restructuring plan earlier this month. The Intermediate People's Court in Wuhan heard the plan Tuesday.    East Star was founded in May 2005, making it China's fourth private carrier after Okay Airways, United Eagle Airlines and Spring Airlines. It operated more than 20 domestic passenger routes between key cities with a fleet of nine aircraft and held about 10 percent of the market share in Wuhan.     The airline, with a registered capital of 80 million yuan, was jointly owned by a tourist agency, a tourist investment company and a real estate firm, which all belonged to the East Star Group.     On March 13, the airline rejected a government-initiated take-over by the parent group of national flag carrier Air China.     Its operations were suspended by the industry regulator as of March 15, due to prolonged financial and management problems. File photo taken on March 27, 2009 shows a jumbo jet of the Dongxing Group Co. Ltd lying on the tarmac, as a plane of another airway taking off overhead, at the Tianhe International Airport in Wuhan, central China's Hubei ProvinceThe order was issued by General Administration of Civil Aviation of China (CAAC)'s branch in charge of the country's central and southern areas after the Wuhan municipal government submitted an application for the suspension.    The bankruptcy proceedings were launched on March 30 at the request of six creditors, according to the Communications Commission of Wuhan City.     East Star Airlines announced last month that its total debt surpassed 752 million yuan.     General Electric's aircraft leasing arm, GE Commercial Aviation Services, one of the creditors, has taken back all nine aircraft it had leased to the airline.     State-owned Air China has recruited about 600 out of the more than 1,000 staff of East Star Airlines.     The global economic downturn reduced air travel severely, making last year a hard time for the airline industry.     The Chinese government injected billions of yuan into Air China, China Southern Airlines and China Eastern Airlines, the three major state-owned carriers, to help them ride out the downturn.     Wang Chaoyong, chairman of ChinaEquity, said private airlines had no access to bailouts.     Zhao Changbing, spokesman of East Star Airlines, said the government should protect the brand of the private business.     Zhao said the airline rejected the takeover by the parent of Air China because the offer was too low and it only covered the debts.

BEIJING, Aug. 12 (Xinhua) -- China's top economic planner, the National Development and Reform Commission, unveiled Wednesday a draft regulation on monopoly prices.     The regulation applies to cases of monopoly prices both inside and outside the country, when monopoly prices outside the country impact the domestic market, according to the regulation posted on the commission's Web site.     Other than deals reached among more than two parties for the purpose of monopolizing prices, power abuse of government agencies to eliminate or limit competition is also regarded as violation of the regulation.     Those who violate the regulation would be punished according to stipulations in the country's anti-monopoly law, according to the commission.     Individual retailers or producers may face confiscation of illegal earnings and a fine of up to 10 percent of last year's sales, while industry associations are subject to a fine of no more than 500,000 yuan (73,529.4 U.S. dollars) or could be dismissed as an association.     Government agencies that violate the regulation would be ordered by their superiors to correct their actions, and officials held responsible would be disciplined according to relevant laws.     The commission said the regulation was aimed to prevent monopoly prices and to endorse fair competition so as to safeguard the interests of consumers and the public.     The commission is soliciting public opinion for the regulation until Sept. 6

XUZHOU, Jiangsu, Oct. 18 (Xinhua) -- President Hu Jintao congratulates Sunday on the 100th founding anniversary of the China University of Mining and Technology (CUMT) in a letter, urging more talents in the country's energy resource industries.     Hu said in the letter that energy resources are the basis and guarantee of the country's economic and social development.     As a key base for the country's education on the science and technology of energy resources, the university shoulders great responsibilities and has a bright future, Hu said. Hu called upon the university to stick to the Scientific Outlook on Development and foster more talents to achieve more research fruits and contribute to the sound and fast development of the country.     In his reply to a letter from the university's new graduates who are working in the country's western regions, Premier Wen Jiabao encouraged them to devote themselves to the development of the regions where they work.     State Councilor Liu Yandong Sunday attended the celebration that marked the university's founding anniversary. She noted that the scientific exploitation and clean use of energy resources is a major issue for countries across the world and is also a key factor that is restricting China's modernization.     She called on teachers and students to attach individual values to the country's construction and go to the places where they are most needed.     The CUMT, one of the key national universities under the direct administration of the Ministry of Education, is based in Xuzhou of east China's Jiangsu Province.     In 1997, the university's second campus was established in Beijing.

NEW YORK, Sept. 21 (Xinhua) -- Chinese President Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25.     President Hu will attend a UN climate change summit in New York on Tuesday, address the general debate of the 64th Session of the UN General Assembly Wednesday, and participate in a Security Council summit on nuclear non-proliferation and disarmament on Thursday, said Chinese Foreign Ministry officials.     In a note to heads of state and government regarding the summit, UN Secretary-General Ban Ki-moon said "the objective of the Summit on Climate Change, which I am convening on Sept. 22, is to mobilize the political will and vision needed to reach an ambitious agreed outcome based on science at the UN climate change talks in Copenhagen." Chinese President Hu Jintao (Front, R) is greeted upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25"I hope that cooperation between and among developed and developing countries can be strengthened, and that the political impetus for a successful deal in Copenhagen will be made manifestly clear to all participants," he said.     Tuesday's summit is convening just 10 weeks before world leaders gather in Copenhagen in December to negotiate and try to seal a treaty on climate change after the first phase of the Kyoto Protocol expires in 2012.     "At the meeting, President Hu will call for stronger international efforts on climate change and introduce new measures that China is taking," China's Vice Foreign Minister He Yafei told a press briefing last week.     "The president will fully elaborate on China's stance and proposals on climate change and what China is doing about it," He said. Chinese President Hu Jintao (Front, 2nd R) shakes hands with a Chinese diplomat in the United States upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25The vice minister expressed the hope that "the summit would send a positive signal," emphasizing joint efforts to make the Copenhagen conference a success.     During the general debate of the UN General Assembly Wednesday, Hu is expected to elaborate on China's stand on major global and regional issues.     In his speech, President Hu will outline China's ideas about how to safeguard world peace, boost common development, promote mutual benefit and seek harmonious co-existence, said Chinese Foreign Ministry officials.     On Thursday, President Hu will attend a special session of the UN Security Council on nuclear non-proliferation and disarmament, which is proposed and chaired by U.S. President Barack Obama     "The session will focus on nuclear non-proliferation and nuclear disarmament broadly, and not on any particular countries," U.S. Ambassador to the UN Susan Rice said on Sept. 2.     Chinese diplomats said that President Hu will elaborate on China's ideas of realizing common security through a win-win approach to mutual benefits.     Hu will put forward China's propositions on nuclear non-proliferation and disarmament, peaceful use of nuclear power, nuclear security and other issues concerning the international community, they said.     Following the UN meetings, President Hu will fly to Pittsburgh for the G20 summit.     At the summit, Hu and leaders of other G20 members will review the progress made since the Washington and London summits and discuss further actions to assure a sound and sustainable recovery from the global financial and economic crisis.     "The Pittsburgh summit is an important opportunity to continue the hard work that we have done in confronting the global economic crisis, and renewing prosperity for our people," Obama said on Sept. 8.     "Together, we will review the progress we have made, assess what more needs to be done, and discuss what we can do together to lay the groundwork for balanced and sustainable economic growth," he added.     The Pittsburgh summit is the third since the ones in Washington last November and in London in April this year.     The G20 was formally established in 1999 to bring together major industrialized and developing economies to discuss key issues in the global economy.     The G20 consists of China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States, and the European Union.     China expects the summit to achieve positive results in macroeconomic policy coordination, reform of international financial organization, development and measures against protectionism, said Chinese Vice Foreign Minister He.

BUCHAREST, Oct. 18 (Xinhua) -- Chinese Vice President Xi Jinping arrived here on Sunday to start his official visit to Romania after he concluded a visit to Hungary.     In a written statement upon his arrival at the airport, Xi said China and Romania have enjoyed long-term friendship, and they have enhanced political trust, cooperation in various areas, and coordination in dealing with international affairs since they forged diplomatic ties six decades ago.     Noting that the Chinese government values relations with Romania, Xi said his visit was to cement traditional friendship and reciprocal cooperation by taking the chance of 60th anniversary of bilateral ties. Chinese Vice President Xi Jinping (1st R) arrives in Bucharest for an official visit to Romania on Oct. 18, 2009    "I expect to exchange views with the Hungarian leaders on bilateral relations and international and regional issues of common concern," he said.     He also voiced his belief that the visit would promote traditional friendship and push forward the comprehensive, friendly and cooperative partnership with Romania.     Romania is the last leg of Xi's five-nation European tour. He already visited Belgium, Germany, Bulgaria and Hungary.