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BEIJING, Aug. 8 (Xinhua) -- China's ChangAn Auto Co., Ltd., a leading domestic auto maker, announced Saturday that its sales volume rose more than 82 percent year on year last month.     The Chongqing-based company sold 107,863 units of vehicles in July, up 82.4 percent year on year, it said in a statement to the Shenzhen Stock Exchange.     The company produced 118,037 units of vehicles in July, up 64.9 percent year on year.     The Shenzhen-listed firm's shares had fallen 5.24 percent to 10.31 yuan a share Friday before the release of the report.

BEIJING, July 29 -- The securities watchdog is mulling further measures to plug the loopholes that showed up in the latest round of initial public offerings (IPO), according to Shang Fulin, chairman, China Securities Regulatory Commission (CSRC).     The CSRC is generally satisfied with the results of the recent reforms, but also identified a number of areas that need to be improved. One of these areas is the lack of a provision to block institutional investors from taking advantage of the new allotment system by masquerading as personal investors in their IPO applications.     "Some institutional investors were known to have circumvented the subscription limits on their accounts by making applications through personal investor accounts opened with borrowed ID cards," said Lu Junlong, analyst, China Finance Online. "Stockbrokers keen on earning commission fees usually turn a blind eye to such irregularities," he said. People watch the index screen at a stock market in Shanghai, China, July 1, 2009. The CSRC said it is planning to take steps to safeguard individual investors' interests.    This has defeated, to some extent, the primary objective of the reform, of increasing the allotment of new shares to personal investors. In the past, the deluge of applications from well-financed institutional investors had largely crowded out applications from individual investors.     Because of the loophole, the ratios of allocation of newly issued shares to personal investors in the past several IPOs were still deemed too low.     For example, the ratio of allocation in the IPOs of Guilin Sanjin Pharmaceutical, one of the first companies to obtain a stock exchange listing after the lifting of the IPO suspension, was only 0.17 percent.     The ratio of allocation in the Sichuan Expressway IPO was 0.26 percent, while it was 2.83 percent for China State Construction Engineering Corp's public float.     "The ratio of allocation to subscription is at a low level, similar to the lottery system in the past," said Zhu Hongbin, an investor with over 10-year experience in the market.     Considering the wide price gap between the primary and secondary markets, many institutional investors borrowed heavily from banks to subscribe for new shares.     Easy credit and cheap money have given institutional investors a much greater edge over small investors in the fight for IPO allotments.     "As long as the interbank seven-day repurchase rate stays below 3 to 4 percent, we can make profits by subscribing to new shares," a Shanghai-based fund manger said, who refused to be named.     The investors' feverish penchant for newly listed stocks saw Sichuan Expressway Co soar 202 percent on debut. The bourse suspended trading in the scrip for two times to allow for a cooling off period on the first day.     The company's issue price was 3.6 yuan, nearly 20 times the PE (price-to-earnings) ratio. After collective bidding, the opening price soared to 7.6 yuan and the shares finally closed at 10.9 yuan after touching a high of over 15 yuan.     The high price was beyond the expectation of many analysts.     According the reports from 23 securities firms, most analysts thought the reasonable price could be around 5 yuan. Guotai Junan Securities Co was the most optimistic, which estimated the shares could be worth around 7 yuan.     The shares subsequently began to slump and closed at 9.81 yuan, with many individual investors burning their figures.     According to the Shanghai Stock Exchange, individual investors were the main buyers for the new shares of Sichuan Expressway on its first trading day. Among the 74,000 accounts that bought shares on that date, about 99.9 percent was personal accounts. Institutional investors, including fund mangers, securities firms and insurance companies, did not join the speculation.     According to CSRC Chairman Shang Fulin, the regulators are working on a plan to educate individual investors and also exploring effective mechanisms to protect investors' rights.

BEIJING, Oct. 10 (Xinhua) -- Chinese President Hu Jintao met with President Lee Myung-bak of the Republic of Korea (ROK) and Japanese Prime Minister Yukio Hatoyama here on Saturday, who are here to attend the second trilateral leaders' meeting.     Hailing the progress of China's relations with the two countries, Hu said China is ready to make joint efforts with Japan and the ROK to implement consensus, boost healthy development of China-ROK strategic cooperative partnership and China-Japan strategic mutually-beneficial ties.     The substantial cooperation between China and the two countries in various areas had been further expanded, he said.     Hu congratulated the success of the second trilateral leaders' meeting held in Beijing on Saturday, calling on the three nations to seize historical opportunities to further strengthen strategic trust, respect respective major interests and concerns, and make concerted efforts for mutual benefits and common development.     The Chinese president hopes the three countries to facilitate east Asian cooperation and jointly respond to regional hot issues and global challenges to unveil a new chapter for peace, cooperation and development of east Asia. Chinese President Hu Jintao (C) meets with South Korean President Lee Myung-bak (R) and Japanese Prime Minister Yukio Hatoyama, who are here to attend the second trilateral leaders' meeting, at the Diaoyutai State Guesthouse in Beijing, capital of China, on Oct. 10, 2009.    In response, Lee Myung-bak said the three countries had made great achievements in expanding cooperation in the past ten years. "China's economy is now stabilizing and turning for the better, which plays a positive role in promoting economic recovery of the ROK and Japan," he added.     Lee spoke highly of Hu's important speech on the UN climate change summit in New York last month, expressing appreciation over China's contribution to reopening the six-party talks and promoting a nuclear-free Korean Peninsula.     Hatoyama extended congratulations to Hu on the 60th anniversary of the founding of the People's Republic of China, adding he was glad to see China's great achievements.     He told Hu the Japanese government would like to cooperate closely with China to boost bilateral ties in a spirit of drawing lessons from history and facing up to the future.     Hatoyama also expressed satisfaction over the progress of trilateral cooperation, calling on the three sides to respect each other and share successful experience to promote greater achievement of trilateral cooperation.

URUMQI, Sept. 4 (Xinhua) -- A senior government official said Friday the situation in Urumqi, the capital city of northwest China's Xinjiang Uygur Autonomous Region, was under control after local residents had taken to the streets over two days to protest against hypodermic syringe attacks.     There were no major protests in the city Friday, a day after massive protests that left five people dead Thursday, said Executive Deputy Mayor Zhang Hong. Deputy Mayor of Urumqi Zhang Hong speaks during a news conference in Urumqi, capital city of northwest China's Xinjiang Uygur Autonomous Region, Sept. 4, 2009. Zhang Hong said on Friday the situation was basically under control in the citySmall crowds gathered "in a few locations" Friday, but soon dispersed and nobody was killed, said Zhang.     Syringe attacks carried out since Aug. 20 have resulted in panic and resentment from the public, the official said.     Suspects were caught Wednesday when attacking members of the public. They were beaten by a angry crowd and one was seriously injured. People gather on a street in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, Sept. 4, 2009. Police were exerting efforts to control the situation in Urumqi on Friday. Five people have been confirmed dead and 14 others injured and hospitalized following Thursday's protests, Zhang said.     Of the five dead, two had been confirmed as innocent civilians, while police are trying to identify the remaining three.     He said investigations showed those carrying out the syringe attacks were from the Uygur ethnic group while the attacked included Han Chinese and other ethnic groups. Residents go around at a market on Meiqi Lane in Urumqi, capital city of northwest China's Xinjiang Uygur Autonomous Region, Sept. 4, 2009. By Thursday, local hospitals had dealt with 531 victims of hypodermic syringe stabbings, 106 of whom showed obvious signs of needle attacks.     Zhang said the attacks were premeditated and organized to create terror in society.     "The 'three forces' (separatism, terrorism and extremism) at home and abroad are not willing to see ethnic unity and their failure when the July 5 violence died down quickly," he said. "So they are using 'soft violence' to disrupt social order and instigate ethnic hatred."     China's Public Security Minister Meng Jianzhu arrived in Urumqi Friday to direct work to defuse ongoing unrest in the city.     Meng, also a State Councillor, urged local governments and Communist Party of China (CPC) committees at all levels in Xinjiang "to restore social order as soon as possible."     "Maintaining stability is the central task of overriding importance in Xinjiang at the present time," he said in a meeting with local officials.     Meng said the spate of syringe attacks, which were premeditated, masterminded and conducted by law-breakers and instigated by ethnic separatist forces, were a continuation of the July 5 riot in the city which left 197 people dead. He said the separatists' purpose was to undermine ethnic unity.

HONG KONG, July 20 (Xinhua) -- A photo exhibition opened here Monday to mark the 30 anniversary of the establishment of China-U.S. diplomatic relations.     The nearly 300 photos on display range in time from as far back as the voyage to China of the American trading ship Empress of China in 1784, to the G-20 Summit in London this year. Guests attend the opening ceremony of a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition.The photos reflect important economic, political and cultural events in the growth of the relations between the two countries, portraying a history of building bridges of understanding and cooperation between the two countries through high-level visits as well as the actions of thousands of individuals, companies, student groups and civic organizations.     "China-U.S. relations have made remarkable progress since 1979,with the joint efforts of four generations of Chinese leaders and seven U.S. presidents as well as the people of both countries," said Tung Chee-hwa, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, at the opening ceremony. Tung Chee-hwa (Front), vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, visits a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition, opened on July 20. He said that the exhibition will provide an opportunity for people to know further about the importance of Sino-U.S. relations so that they will make greater efforts to promote the relations.     Also speaking at the ceremony, U.S. Consul General in Hong Kong and Macao Joseph R. Donovan said that U.S.-China relations had been marked by success and challenges.     "Despite the scale of the task we have faced, each succeeding generation of leaders, diplomats, and individuals has broadened and strengthened the U.S.-China relations," he said, noting that the exhibition offers "snapshots" of their dedication and efforts.   A woman visits a photo exhibition marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations in Hong Kong, south China, July 20, 2009. Nearly 300 photos were displayed in the exhibition, opened on July 20.  "Given Hong Kong's role as one of China's gateways fostering the interplay of culture and ideas between our two nations, it is quite fitting that we come together, in Hong Kong, to celebrate thirty years of cooperation between the U.S. and China," he said.     The exhibition is jointly presented by the Office of the Commissioner of the Ministry of Foreign Affairs of China in the Hong Kong Special Administrative Region, Chinese People's Association For Friendship with Foreign Countries and China-U.S. Exchange Foundation, in association with the Xinhua News Agency and some other media groups.