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BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama met the press here Tuesday noon at the Great Hall of the People after their official talks.     The two leaders were to brief Chinese and overseas reporters about their talks.   Chinese President Hu Jintao shakes hands with visiting U.S. President Barack Obama after they meet the press at the Great Hall of the People in Beijing on Nov. 17, 2009Differences "normal," mutual respect essential in Sino-U.S. ties: President HuObama says U.S. recognizes Tibet as part of ChinaChina, U.S. appreciate role of G20 summit in coping with global financial crisisChina, U.S. to work together for positive results at Copenhagen summitHu, Obama agree on resolving Korean Peninsula, Iran nuclear issues through dialogueChina, U.S. to cooperate in space exploration, high-speed rail constructionChina, U.S. to cooperate in macroeconomic, financial policies to solidify recovery: President HuNew round of China-U.S. strategic, economic dialogue scheduled for next summerHu says his talks with Obama candid, constructive, fruitful

BEIJING, Oct. 27 (Xinhua) -- China's anti-graft chief He Guoqiang on Tuesday urged discipline and supervision authorities to press ahead with the building of a clean government and strengthened efforts in corruption prevention.     He, secretary of the Central Commission for Discipline Inspection of the Communist Party of China (CPC), said in a meeting that efforts should be made to handle people's complaints and embrace innovation in the establishment of anti-corruption mechanism.     He asked discipline and supervision authorities to combat extravagance, intensify crackdown on the practice of "small coffer", which refers to fund, securities and assets that should be but fail to be listed into the account books of CPC and government organizations in accordance with relevant laws and regulations.     He also called for authorities to make public Party affairs, especially at grassroots organizations, and investigate and prosecute corruption cases.     Efforts should be made to expand channels for the general public to be involved in anti-corruption endeavor, said He, who is a member of the Standing Committee of the Political Bureau of the CPC Central Committee.

ABU DHABI, Jan. 3 (Xinhua) -- More than 40 world leading renewable energy companies from China have confirmed their participation in the upcoming World Future Energy Summit (WFES) in Abu Dhabi, organizers said Sunday.     The Chinese pavilion at the meeting, which is now in its third year and will be held in the capital of the United Arab Emirates (UAE) on Jan. 18-21, has already grown to more than 1,000 square meters, ASDA'A Burson-Marsteller, a public relations consultancy, said in a press release.     Leading companies and organizations from all across China, including Suntech Power, Yingli Green Energy Holding and China Sunergy, are expected to participate in the summit, the press release said.     It noted that there is a particularly strong presence of companies from China's eastern province of Jiangsu, where solar power is a pillar of the local economy, saying approximately half of the Chinese firms participating are from the province.     According to the press release, Shi Zhengrong, Suntech's chairman and CEO, will take part in a discussion on International Policy and Climate Change Action Plans during the summit.     Suntech, a NYSE-listed company with a market capitalization of nearly 3 billion U.S. dollars, is the world's largest producer of crystalline silicon solar panels and has delivered solar energy products to more than 80 countries over the past eight years, it said.     The China Greentech Report, recently issued by the China Greentech Initiative, a partnership of more than 80 of the world's leading companies and organizations, projects that the Chinese government's investment in its "greentech" industry will drive private sector investment, which could create a national market worth up to 1 trillion dollars annually.     Such significant investment and government commitment have led to China playing a significant role in the exhibition at the WFES this year, the press release said.     The WFES, a global platform for sustainable future energy solutions launched in 2008, gathers industrial leaders, investors, scientists, specialists, policymakers and researchers to discuss challenges of rising energy demand and actions to achieve a cleaner and more sustainable future for the world.     Abu Dhabi, an emerging global hub for renewable energy, is the venue for the annual meeting, held along with the World Future Energy and Environment exhibitions.     In June last year, the International Renewable Energy Agency (IRENA) decided to base its headquarters in the UAE capital.