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BEIJING, March 9 (Xinhua) -- China will not revise the Labor Contract Law to compromise workers' rights as suggested by some people to help enterprises cope with the global financial turmoil, a legislator said here Monday.     "The labor contract law has nothing to do with the financial crisis and won't be revised for it," said Xin Chunying, deputy director of the Legislative Affairs Commission of the Standing Committee of the National People's Congress (NPC), China's legislative body.     "China's labor relations are basically stable and orderly, and it can weather through the test of time," she told a press conference on the sidelines of NPC's annual session, when asked if the law will be changed because increased labor costs have led to rising cases of bankruptcy on the Pearl River Delta.     Citing a survey that tracts figures in the first nine months of the 2008, she said the law has indeed driven up enterprises' labor costs by two percent, but it has also greatly curbed labor relations issues that have been afflicting workers as well as employers for years.     Such chronical issues include the tendency of employers avoid signing long-term contracts with employees, the lack of proper protection of workers' rights, said Xin.     The proportion of workers protected by a written labor contracts in "sizable enterprises" has witnessed a remarkable rise since the labor contract law took effect in January 2008, she said.     "Sizable enterprises" is a statistical term in China that refers to all state enterprises or private firms with an annual turnover of two million yuan if they are manufacturers, or five million yuan if they are in trade.     According to Xinhua, 93 percent of the workers in "sizable enterprises" have signed contracts with their employers, compared to less than 20 percent before the enaction of the new law.     Li Shouzhen, a senior official with the All China Federation of Trade Unions, said at the same press conference that the federation is against the lifting of the minimum wage standard.     The minimum wage standard was a major measure to safeguard workers' rights. "Abolishing the standard will hurt employee's initiative and confidence in tiding over difficulties with enterprises," he said.     "Eying long-term development, the employers should strive to pool wisdom and strength of the employee and optimize company structure," he said.     "Don't have your eyes on the employee's salary alone," he said.     The minimum wage standard in the country varies from city to city, with the southern Shenzhen city reporting the highest standard of 1,000 yuan a month. 

BUSAN, South Korea, April 12 (Xinhua) -- Experts from China, Japan and South Korea attending a regional forum here on Sunday called for closer cooperation among the three countries in tackling the global financial crisis.     The proposal was made at the fourth session of the Northeast Asia Trilateral Forum, a regional platform with political, business and academic experts from the three countries. Vice President of China's Xinhua News Agency Zhou Xisheng (R), Lee Hong-koo (C), former prime minister of the Republic of Korea (ROK) and Ryoki Sugita (L), head of the Nihon Keizai Shimbun (Japanese Economic News Press), attend the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in Pusan. In his speech to the forum, former Chinese vice premier Qian Qichen said that the issues of the financial crisis, energy security, environmental protection and climate change have been interwoven and become global challenges, and no country alone can counter these challenges.     China, Japan and South Korea are major forces in maintaining world financial stability and promoting global growth, and the most pressing task is to work together to take every necessary measure to curb the spread of the crisis and mitigate its impact on economic growth and market stability, he said. Vice President of China's Xinhua News Agency Zhou Xisheng (R) talks with Lee Hong-koo, former prime minister of the Republic of Korea (ROK), during the opening ceremony of the Forum of Northeast Asian Prominent Figures, in Pusan, ROK, April 12, 2009. The fourth Forum of Northeast Asian Prominent Figures was opened on Sunday in PusanFormer Japanese prime minister Yasuhiro Nakasone suggested in his speech that experts from the three countries form a group to search for a solution to the world financial crisis.     Former South Korean prime minister Lee Hong-koo said the consensus on building new world orders in politics, economy and other fields needs to be more broadly shared so as to better tackle the crisis that all are faced with.     The forum will focus on cooperation among South Korea, China and Japan in dealing with the world financial crisis, which will lay a good foundation for the further development of ties among the three countries, Lee said.     The Northeast Asia Trilateral Forum is a yearly event cosponsored by the Xinhua News Agency of China, the Nikkei news group of Japan and leading South Korean daily Joong Ang Ilbo, and gathers prominent figures from all walks of life in the three countries.     This year's meeting is set to discuss global financial risks, environment, energy and culture.

RIYADH, Feb. 11 (Xinhua) -- Visiting Chinese President Hu Jintao said Wednesday that China will seek an early free trade agreement (FTA) with the Gulf Cooperation Council (GCC).     "The FTA is in the fundamental and long-term interests of both sides and will help deepen their mutually beneficial cooperation and achieve common development," Hu said during a meeting with GCC Secretary General Abdul Rahman Al-Attiya in Riyadh, where the council is headquartered.     "China will work actively toward signing the agreement at an early date," Hu said. Chinese President Hu Jintao (R) shakes hands with Abdul Rahman Al-Attiyah, secretary general of the Gulf Cooperation Council (GCC), in Riyadh, capital of Saudi Arabia, Feb. 11, 2009. Hu is in Saudi Arabia for a state visit    Al-Attiya echoed Hu's views and pledged efforts to complete the FTA talks as soon as possible.     China and the GCC launched FTA negotiations in July 2004, and the first round of the talks took place in April 2005.

GUILIN, (Guangxi), Feb. 14 (Xinhua) -- China will tighten water resources management and take measures to reduce waste to cope with worsening water shortage, Water Resources Minister Chen Lei said here Saturday.     Water shortage impelled us take into consideration of overall economic and social development and economical use of water resources to ensure sustainable economic and social development, Chen said at a national conference in Guilin, in southern Guangxi Zhuang Autonomous Region.     China is planning to reduce water consumption per unit of GDP to 125 cubic meters by 2020, down 60 percent from now, Chen said.     Water consumption averaged 229 cubic meters per 10,000 yuan worth of products, according to statistics provided by the Ministry of Water Resources (MWR) at the end of 2008. That figure was down 10 percent compared with the previous year.     Statistics released Saturday showed the country lacked 40 billion cubic meters of water every year, with almost two thirds of cities suffering various levels of water shortages.     More than 200 million rural people face drinking water shortages.     At the same time, farmland stricken by drought reached 230 million mu (15.3 million hectares) every year, nearly 13 percent of the total farming area.     The most severe drought in half a century, which is hitting China this spring, affected 111 million mu of crops so far, with 4.68 million people and 2.49 million livestock threatened by water shortages, according to official statistics from the State Flood Control and Drought Relief Headquarters.     "We must take strict measures to preserve water resources in the face of the severe lack of water worsened by factors such as overuse, pollution and drought ," Chen said.     The ministry also expected to increase 79.5 billion cubic meters of water resources by 2020 and secure water supplies for both urban and rural people.     Chen proposed reinforcement of laws and regulations on water allocation, consumption and preservation as a fundamental way to achieve this goal.

BEIJING, April 5 (Xinhua) -- China will strengthen oversight of listed securities companies by promoting information transparency.     On Saturday, China Securities Regulatory Commission (CSRC) introduced a regulation which said securities companies should remind investors about potential risks when shareholders decide to launch a new business or introduce an innovative business.     The annual report and half-year report by listed securities companies should include risk assessment conditions, as well as reasons for risk and probable effects. Photo taken on April 1, 2009 shows a woman smiles before a stock price electronic board in Beijing. China's benchmark composite stock index on the Shanghai Stock Exchange closed at 2408 points on Tuesday    In addition to the annual operation report, companies were asked to deliver a supervision and monitoring annual report which includes audit and accounting information.     If a company or high-rank official is involved with serious illegal activity, and that results in worsening financial condition, the company should inform all shareholders.     The CSRC said the regulation, which was made on the basis of the Securities Law, took effect April 3.