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TIANJIN, Sept. 27 (Xinhua) -- China has full confidence and capability to overcome various difficulties to ensure sound and fast economic growth for an even longer period of time, said Premier Wen Jiabao on Saturday.     Addressing the opening ceremony of the 2008 Summer Davos Forum in the north China port metropolis of Tianjin, Wen said China is in the stage of rapid industrialization and urbanization, and has huge potential for economic growth. The important period of strategic opportunities for China's development will last quite a long time.     Despite the heavy snow and sleet storms and the devastating earthquake and a complex situation both at home and abroad the nation faced, China have overcome difficulties one after another and maintained the momentum of steady economic growth.     "There are many favorable conditions for China to maintain sustained and fast growth, such as abundant supply of labor and capital as well as huge potential of increased domestic consumption and investment demands, vast market and more competitive and dynamic enterprises," said Wen.     The demands for investment, consumption and export are growing in a more balanced way. The economic fundamentals in China remain unchanged and the economy is moving in the direction envisaged in the macro-economic control policy, he added.     The two-day forum, also known as the New Champions 2008, has attracted about 1,400 participants from nearly 90 countries and regions, including business elite and senior officials, to discuss topics about the theme "The Next Wave of Growth". The second Annual Meeting of the New Champions organized by the World Economic Forum is officially opened at Tianjin Binhai Convention and Exhibition Center in north China's Tianjin Municipality, Sept. 27, 2008

SHANGHAI, Sept. 5 (Xinhua) -- The world's widest tunnel with an inner diameter of 13.7 meters completed its excavation here under the Yangtze River on Friday.     The 8.9-km tunnel is part of a 12.6 billion yuan (1.84 billion U.S. dollars) bridge and tunnel project to link Shanghai with Chongming Island, the country's third largest after Taiwan and Hainan.     The tunnel will accommodate a six-lane expressway and a rail line. When operational in 2010, travel to Chongming from urban Shanghai will take 20 minutes, according to Yu Xuanping, vice general manager of the Shanghai Tunnel Engineering Co., Ltd, builder of the tunnel.     The company used a tunnel boring machine with a diameter of 15.43 meters, the largest of its kind, to excavate under the Yangtze.     The tunnel and bridge project would make the transport networkson the southern and northern sides of the river more closely connected, said Wu Liangyong, a Chinese Academy of Sciences academician.     The tunnel connects Shanghai's vast Pudong District with Changxing Island in the Yangtze, while the bridge connects Changxing and Chongming.     Currently, Chongming is connected with Jiangsu Province to its north.     Located at the Yangtze River mouth, Chongming covers an area of1,200 sq. km, equal to about 20 percent of Shanghai's total land area.     China's central government plans to turn the island into a model of an eco-friendly town in the country. Shanghai municipal government is also paying great attention, with infrastructure projects being built within the island.     Experts said the inconvenient traffic between Shanghai and Chongming once blocked the development of the island. The construction of the bridge and tunnel would help attract overseas investment and make the suburb a major channel of the Yangtze River Delta area.

BEIJING, Sept. 11 -- Inflation eased to its lowest level in August since June last year, giving the government more policy leeway to prevent an economic slowdown.     The consumer price index (CPI), the main gauge of inflation, rose 4.9 percent year-on-year, compared to 6.3 percent in July, the National Bureau of Statistics (NBS) said yesterday.     The CPI has been sliding since May, but still many economists were caught by surprise by last month's drop because they had forecast it to be above 5 percent. The month-on-month fall was only 0.1 percent.     But last month's producer price index (PPI), a gauge of factory gate inflation, rose a record 10.1 percent year-on-year, after jumping 10 percent in July.     Nevertheless, the low CPI figure gives the government "more policy room to sustain growth," Citigroup economist Ken Peng said.     He suggested the authorities consider further policy changes favoring growth, which could shift to full gear next month.     Economic growth has been slowing since the second quarter of last year, when the government adopted monetary and credit measures to rein in inflation and prevent the economy from overheating further.     Yet economists began warning of a recession since the beginning of this year, especially because the country's export sector, a key growth engine, started losing steam on weaker foreign demand.     The government responded it would strive to maintain a stable economic growth this year, leading to speculation that it would soon ease the tightening measures. But any step to stimulate the economy, such as lower interest rates or faster loan growth, risks spurring demand and stoking inflation again.     "Unless there's an abrupt slowdown, there's no need for a major change in the marco-control measures," said Lian Ping, an economist with the Bank of Communications. "The current 10 percent GDP growth is largely seen as acceptable."     The CPI rise is likely to stabilize around 5 percent during the rest of the year, he said, because food prices may continue to drop. Inflation fell last month mainly because of a drop in food prices, which make up one-third of the inflation basket. Food prices slid 0.4 percent from July.     A falling inflation rate gives the government a good chance to lift its price control on products such as fuel, water, and electricity further, Lehman Brothers economist Sun Mingchun said.     In the past year, policymakers have managed to freeze the prices of public utilities, and fuel and power tariff. They introduced temporary price curbs on some other goods, too, to rein in inflation.     Yet soaring labor and raw material costs, reflected in the rising PPI figure, have eaten into the profit of local enterprises because price control and fierce competition prevented them from passing the inflationary pressure on to consumers.     Such price liberalization could make the CPI rise again in the next few months, Sun said.     "But if implemented in a gradual and orderly way, inflation should remain below 6 percent year-on-year during the rest of the year."

BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

SKOPJE, Sept. 15 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang met here on Monday with Macedonian President Branko Crvenkovski with both sides vowing to boost cooperation between the two countries.     "China attaches great importance to the bilateral relations with Macedonia, and regards Macedonia as a trust-worthy partner in the west Balkans," Zhang said.     Zhang pointed out that the bilateral relations between the two countries have made positive progress during the past 15 years, and that economic cooperation and exchanges in the fields such as culture, education and sports have witnessed new development.     Zhang said China is ready to broaden the areas of cooperation between China and Macedonia on the basis of mutual respect and mutual benefit, and lift the bilateral relations to a new level.     He suggested the two countries should find new areas of cooperation, and push the companies of the two countries to develop cooperation in different forms and through various conduits.     Zhang expressed thanks and gratitude to Macedonia for its stance on one-China policy and its support for China's cause of peaceful unification with Taiwan.     Crvenkovski said Macedonian highly values its relations with China, saying that Macedonia will unswervingly stick to its one-China policy.     "We are ready to work with China to strengthen the cooperation between the two countries in the areas of politics, trade and economy, and international affairs, pushing the bilateral relations forward," Crvenkovski said.     Crvenkovski congratulated China on staging a wonderful Olympic Games in Beijing, and thanked China for its long-time help and support for Macedonia.