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BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign.     These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.     The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said.     The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.     However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth.     CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.     CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.     The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.     From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.     The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

TAIYUAN, Sept. 11 (Xinhua) -- Rescuers on Thursday had finished searching more than half the mud-covered areas in north China after a mud-rock slide left 128 people dead.     Shanxi Provincial Government Secretary-General Wang Qingxian said about 60 percent of the area had been combed. Altogether 2,000-plus rescuers, with the aid of more than 110 excavators, were searching for survivors.     He said Internet claims that hundreds of people were missing was mere speculation.     "The specific figure of the people missing in the disaster has not been established yet," said Wang at a news conference. "We are still evaluating the situation."     He promised timely and transparent updated casualty numbers, adding 36 people had suffered injuries.     If the weather conditions allowed, searchers would finish looking for survivors in three to five days, he said.     Relatives of the dead will get 200,000 yuan (29,215 U.S. dollars) each as compensation, according to the provincial government.     The State Council, China's Cabinet, has set up an accident investigation team, including officials from the State Administration of Work Safety, Shanxi provincial government, Supervision Ministry, Land and Resources Ministry and All China Federation of Trade Unions. Wang Jun, the State Administration of Work Safety director, was heading the team.     The government has begun examinations to more than 700 tailing ponds in the province to avoid similar accidents from happening again.     There was no epidemic at the area and the injured were receiving treatment, said Gao Guoshun, the provincial health department head, at the news conference.     The water there was not polluted after examination, Gao added.     The disaster happened when the bank of a pond holding waste oredregs of an unlicensed mine burst.     Some reports said hundreds were feared to have been buried underneath the mud, but the local government had released no figures concerning the number of missing.     Wang Qingxian said the mine was purchased and transferred to a man named Zhang Peiliang when the local government auctioned it off in 2005.     But Zhang did not apply for new licenses after its safety production license was suspended in 2006 and the mining license expired in 2007.     "It was an accident of grave responsibility after initial analysis," said Wang Dianxue, the State Administration of Work Safety deputy head and also the investigation team deputy head.     The accident occurred around 8 a.m. on Monday in a pond holding waste ore dregs of the Tashan Mine in Xiangfen County, Linfen City, which was soaked by torrential rain.     In total, an area of 30.2 hectares was covered by the mud. The mud-rock flow damaged buildings, trade markets and some residences lying downstream.

BEIJING, Aug. 22 (Xinhua) -- Chinese President Hu Jintao met with British Prime Minister Gordon Brown here on Friday to exchange views on the Beijing Olympic Games and explore room for further cooperation in Games-related issues and other fields.     Hu extended a warm welcome to Brown, who arrived in Beijing on Friday morning to watch the Games and attend the closing ceremony scheduled for Sunday night, and expressed thanks for the support the British government and people have rendered for the Beijing Games. Full storyChinese President Hu Jintao (R) meets with Australian Governor-General Michael Jeffery in Beijing, China, Aug. 22, 2008. Michael Jeffery is here to attend the closing ceremony of the Beijing Olympic GamesBEIJING, Aug. 22 (Xinhua) -- Chinese President Hu Jintao met with Australian Governor-General Michael Jeffery on the sidelines of the Beijing Olympics Games on Friday to renew the two countries' friendship and seek further cooperation.    As two important countries in the Asia-Pacific region, China and Australia are principal partners for cooperation and share extensive and vital common interests, Hu said. Full storyChinese President Hu Jintao (R) meets with Icelandic President Olafur Ragnar Grimsson, who is here to attend the closing ceremony of the Beijing Olympic Games, in Beijing, China, Aug. 22, 2008BEIJING, Aug. 22 (Xinhua) -- Chinese President Hu Jintao met on Friday with Icelandic President Olafur Ragnar Grimsson on the sidelines of the Beijing Olympic Games to discuss bilateral relations and areas for further cooperation.    China and Iceland have enjoyed traditional friendship and maintained friendly cooperation, said Hu. Such a relationship is a good example of equal treatment and friendly cooperation between countries with different social systems and at different stages of development, he addedChinese President Hu Jintao (3rd L) meets with President of the Commonwealth of Dominica Nicholas Liverpool (2nd R), who is here to attend the closing ceremony of the Beijing Olympic Games, in Beijing, China, Aug. 22, 2008

BEIJING, July 11 (Xinhua) -- Negotiators in the six-party talks on the Korean peninsula nuclear issue reached a "principled consensus" here on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), a Chinese official said Friday.     The top negotiators discussed the specific principles of setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK, the Chinese delegation's spokesman Qin Gang told reporters. The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. Qin Gang said that the top negotiators reached a "principled consensus" on Friday on verifying the declaration of the Democratic People's Republic of Korea (DPRK), which is setting up a verification and inspection mechanism, as well as economic and energy aid to the DPRK. The six parties achieved some progress on the verification mechanism, reaching a principled consensus," Qin said, without elaborating. "The specific consensus will be announced very soon."     Despite different interests, concerns and stances, the parties were striving for issuing a joint document at the end of this round of discussion, Qin said.     He said the top negotiators' meeting, which started Thursday afternoon, went smoothly with "sound atmosphere" and "high efficiency." The Chinese delegation's spokesman Qin Gang answers questions during a press conference held by Chinese delegation of the six-party talks in Beijing, capital of China, July 11, 2008. The heads of delegations meeting would continue Saturday morning, Qin said. "We have made some progress so far...hope we could see a document contain consensus of all parties and measures of next phase when the meeting conclude."     The parties were trying to finish the meeting on Saturday as scheduled, Qin said. "Each delegation is working toward that goal, not only to end tomorrow but to end with results."     On Friday's meeting, negotiators also exchanged views on establishing the peace and security mechanism in northeast Asia.     Besides, the working groups of denuclearization and economic and energy aid held a meeting respectively, mapping out the measures to implement the consensus reached by heads of delegations, Qin said.     The current meeting, held after a nine-month stalemate, came after the DPRK handed over the long-awaited nuclear declaration list late June and then blew up a cooling tower in its main nuclear reactor at Yongbyon.     The six-party talks, launched in 2003, included China, the United States, DPRK, Republic of Korea, Russia and Japan.

BEIJING, June 7 (Xinhua) -- China's central bank on Saturday ordered lenders to set aside more money as reserve, the fifth such move this year. It was the latest effort to enhance liquidity management in the banking sector.     The reserve-requirement ratio would be raised by 0.5 percentage points on June 15, and another 0.5 percentage points on June 25, the People's Bank of China (PBOC) said on its website.     This will bring the ratio to a record high of 17.5 percent.     The PBOC also said that corporate financial institutions in the worst quake-hit areas including Chengdu and Mianyang, would postpone carrying out the regulation. But it didn't say how long the delayed period would be.     "The rise, a further materialization of the tight monetary policy, is aimed at strengthening liquidity management in the banking system," the statement said.     "The government adopted differential monetary policies to support reconstruction in the quake-hit areas," said Peng Xingyun, a senior expert with the Chinese Academy of Social Sciences (CASS).     Zhou Xiaochuan, the central bank governor said earlier that the PBOC was to take flexible monetary policy to aid after-quake reconstruction.     The 8.0-magnitude earthquake centered on Sichuan's Wenchuan County has so far caused 206.53 billion yuan of economic losses to the industrial and mining enterprises in the quake regions.     The PBOC had raised the ratio four times previously this year. The latest was on May 12 when it lifted the ratio to a new high of16.5 percent.     Yin Jianfeng, director of the Institute of Finance and Banking with the CASS, said the move would help the country reduce inflationary pressure and to control excessive investment.     "But the move will not be as effective as the government expected because inflation nationwide mainly resulted from surging production material and food prices," he said. "A simple monetary policy will not help."     The consumer price index (CPI), the main inflation gauge, was up 8.5 percent in April from a year earlier. This was nearly equal to February's 8.7-percent rise, the most since May 1996.     Some market experts said that after-quake restoration and reconstruction would beef up fixed assets investment, and add more inflation pressure to the nation's sizzling economy.     Soaring demand for cement, steel, copper, zinc, and a luminium were expected to push up the prices of basic building materials, according to the experts.     Zuo Xiaolei, Galaxy Securities chief economist, said huge foreign exchange reserves and economy unrest in neighbouring countries had posed great pressure to China's economy. This had forced the government to adjust its economic policy before it could reach a balance.     "A great deal of hot money swarmed into China's capital market, and the PBOC aims to hedging excessive monetary liquidity," said Wu Xiaoqiu, head of the Financial and Securities Research Institute of the China Renmin University.     Wu said the government was likely to carry out more monetary policies to curb inflation and liquidity in the near future.     China adopted the tight monetary policy late last year to prevent the economy from overheating. It was also to guard against a shift from structural price rises to evident inflation. The country adhered to the policy despite a global slowdown hit by the international credit crunch.     The country's economic growth slowed in the first quarter but still reported double-digit growth. It expanded 10.6 percent, compared with 11.7 percent in the same period a year ago.