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BEIJING, April 24 (Xinhua) -- Chinese Premier Wen Jiabao met here on Thursday with ex-French Prime Minister Jean-Pierre Raffarin, and urged the French government to work with China to put bilateral relations on a healthy and stable track. Wen said France was the first Western power to forge diplomatic relations with China, and also the first European Union (EU) member state to set up a comprehensive strategic partnership with China. China valued its friendship with France, which was fostered by leaders of several generations from both nations and by the two peoples, Wen said. He hoped France would work with China to push forward the healthy and stable growth of bilateral ties in line with the principles of mutual respect, equality and mutual benefits. He clarified the truth behind violent crimes in Lhasa and other places, and stated China's stance on this issue. Chinese Premier Wen Jiabao meets with ex-French Prime Minister Jean-Pierre Raffarin in Beijing, April 24, 2008. Wen applauded Raffarin's positive efforts to promote the understanding and cooperation between the two nations and the two peoples. Raffarin said France attaches importance to the comprehensive strategic partnership with China, and that France has always adhered to the one-China policy since the two nations forged diplomatic relations. To safeguard China's reunification and stability accords with the interests of all countries, Raffarin said, noting the European and French people should increase their knowledge about Tibet's real situation. The Olympics is a grand event for all the world, and the international society has the responsibility to make a positive contribution to the Beijing Games, Raffarin said. He expressed sorrow for the incidents of the Beijing Olympics torch relay in Paris, and said he wishes a success for the August Games. Raffarin said France would continue making positive efforts to advance the EU-China relations and France-China relations.
BEIJING, Oct. 14 (Xinhua) -- China will work diligently to maintain an effective and smooth communication channel with citizens who want to submit complaints, a senior Party official said here on Tuesday. "We should try to adopt every open, convenient and easy method to guarantee the public's right to express their requests to the government," said Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, at a video tele-conference on government officials receiving citizens and visiting grassroots people. In the past nine months, asked by the central government, senior officials of the city, county and district governments met with ordinary citizens in person regularly, listening to their requests and complaints and helping solve their problems. They also paid more frequent visits to grassroots people. "Their work eased serious problems that were closely related to people's interests and threatened social stability," Zhou said. "Their visits at grassroots levels contributed to the implementation and improvement of central government policies." The country will formulate the measures into a system and continue improving them, he said. Supervision will be tightened upon the implementation of the measures. "Senior officials of local governments will receive serious penalty according to laws and Party disciplines if problems and conflicts worsen and linger because they ignore people's requests, harm their rights and interests, breach their duty." Officials were also urged to well inform people about expressing their requests through legal and rational ways. Governments at all levels should adopt a scientific and democratic way of decision making, pay more attention to public service and try to prevent new problems from emerging, Zhou said. They should also find out the cause and solution to existing problems, he said. "They should focus on well solving people's legal requests timely."

BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened. The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October. In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day. Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen. Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said. Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001. The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said. Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said. Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low. In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan. Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said. Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan. China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday. If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.
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.
YINCHUAN, Sept. 22 (Xinhua) -- Delegates from China's central government presented a gift to Ningxia Hui Autonomous Region for the 50th anniversary of its founding. At a ceremony held in the region's capital Yinchuan on Monday, senior official He Guoqiang delivered a Chinese Ding. That's a three-legged ancient cooking vessel, which represents solidification between Han and Hui nationalities. The present has been signed by China's President Hu Jintao. A delegation from the central government on Monday arrived in Ningxia Hui Autonomous Region in northwest China, where most residents are muslims, to mark the anniversary. He, head of the delegation and member of the Standing Committee of the Political Bureau of the CPC Central Committee, together with the region's Party chief Chen Jianguo unveiled the present atthe square of Ningxia Museum. Chinese Vice Premier Hui Liangyu delivers a speech at an awarding ceremony in Yinchuan, capital of northwest China's Ningxia Hui Autonomous Region, on Sept. 22, 2008. Central government officials also attended a rewarding ceremony where model individuals and organizations, who had made great contributions to the peace and solidification of the region, were given honors. Hui Liangyu, deputy head of the delegation, praised the achievements those honored and urged them to help more people lead a better live. The autonomous region, covering about 66,000 square kilometers, was set up on Oct. 25, 1958. It has a population of 6.1 million, of whom 2.17 million, or 35.57 percent, are of the Hui ethnic group.
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