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WASHINGTON, Sept. 9 (Xinhua) -- Visiting top Chinese legislator Wu Bangguo met U.S. House of Representatives Speaker Nancy Pelosi on Wednesday to exchange views on bilateral ties as well as international and regional issues of common concern.     Speaking to reporters before their talks, Wu, chairman of the Standing Committee of China's National People's Congress, said he was pleased to visit the United States at the invitation of Speaker Pelosi, noting that the visit was the first by a top Chinese legislator over the past 20 years.     "The purpose of my visit is intended to promote further growth of China-U.S. relations," Wu said, describing the relationship as one of the most important, dynamic and promising bilateral ties in the world.     He expressed the belief that his U.S. trip will inject new impetus to the growth of China-U.S. relations. Wu Bangguo (3rd L), chairman of the Standing Committee of China's National People's Congress, and U.S. House of Representatives Speaker Nancy Pelosi (2nd L) look at a Chinese painting which Wu presents to Pelosi, before their meeting in Washington, the United States, Sept. 9, 2009Pelosi, for her part, recalled her visit to China in May. "When I was in China, I had the opportunity to see so much China has done to address global climate change. It's an important issue of our visit."     "Clearly we can learn a great deal from what China has done. Hopefully, we can learn from each other," she said.     On the occasion of Chairman Wu's visit, she said, both sides will discuss climate change as well as other issues, such as the global economic crisis.     Pelosi said it is important for China and the United States to come to some kind of understanding on the subject of climate change.     "Our countries are great, significant and large, their decisions would affect the whole world," the speaker said. "The U.S.-China relationship is very important one, economically, politically, culturally and environmentally, to both our countries and to the world," she added.     Apart from Pelosi, Wu is also expected to meet U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton during his stay in Washington.     Wu is here on a week-long official goodwill visit to the United States, the final leg of his three-nation America tour which also took him to Cuba and the Bahamas. Wu Bangguo (2nd R), chairman of the Standing Committee of China's National People's Congress, talks with U.S. House of Representatives Speaker Nancy Pelosi (1st L) in Washington, the United States, Sept. 9, 2009

BEIJING, Aug. 11 (Xinhua) -- Chinese Vice Premier Hui Liangyu, who headed Monday to the typhoon-hit regions in Fujian and Zhejiang, warned Tuesday that the country faces grim tasks of fighting secondary disasters as a result of Typhoon Morakot. Big floods are still likely to happen as heavy rainfall persists in the south and many rivers continued to maintain high water levels, he said.     More than 20 rivers reported water levels above flood-alarm lines in Zhejiang, Fujian and Anhui provinces. The county seat of Cangnan is flooded on Aug. 10, 2009 in east China's Zhejiang Province. Rainfall brought by typhoon "Morakot", the 8th this year, has flooded the county seat of Cangnan    Hui asked relevant departments to strengthen monitoring of flooding and forecasts of other disasters, so as to relocate people as quickly as possible to minimize casualties.     Typhoon Morakot has left eight people dead and three missing on the Chinese mainland after a powerful landing in east China Sunday, according to the Ministry of Civil Affairs Tuesday.     As of Tuesday afternoon, Morakot had moved into the Yellow Sea, and would gradually pose less threat to coastal provinces in eastern China.

BEIJING, Sept. 12 (Xinhua) -- A senior leader of the Communist Party of China (CPC) on Saturday urged concrete measures to maintain stability, which he described as an "arduous" task.     Zhou Yongkang, a member of the Standing Committee of the CPC Central Committee Political Bureau, made the remarks at a meeting after hearing reports on the preparation for the security during the National Day holiday and the situations in the country's far western Xinjiang and Tibet.     "While on the whole the social situation is stable, the country now faces grave challenges in maintaining stability, and the task is arduous," Zhou said.     Currently, the overwhelming political task is to maintain the stability of the capital, said Zhou.     Grand celebrations will be held on Oct. 1 in Beijing to mark the 60th founding anniversary of the People's Republic of China.     Zhou urged officials and security workers to "fully prepare themselves for the most complicated situation" in order to ensure the smooth run of all activities during the National Day holiday.     Describing the security campaign as a "people's war", Zhou urged the capital's neighboring areas to strengthen security check and stamp out any factors that might harm stability outside Beijing "with utmost efforts."     Zhou noted that maintaining stability in Xinjiang, where recent needle attacks caused public scare and triggered mass protests after the riot on July 5, is also one of the most significant missions.     The riot left 197 people dead in Urumqi, the regional capital of Xinjiang, while five died during the mass protests in the city last week.     In addition, Zhou urged the local government in Tibet Autonomous Region to strengthen management on monasteries and "strictly" prevent any harmful attempts from separatists.     He said currently people across the country are all hoping for stability and development and "we are fully confident" in managing the security well around National Day.

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.

HONG KONG, Aug. 29 (Xinhua) -- China has made great progress in gender equality and empowering women in the past 60 years, well on track to achieve the Millennium Development Goals (MDGs) by 2015, said a senior UN official on Saturday at the Asia Pacific Women Forum held in Hong Kong.     Khalid Malik, the United Nations Resident Coordinator and the UN Development Program resident representative in China, quoted Chairman Mao Zedong's famous remarks "Women holding up half of the sky" to review China's good will and determination in promoting gender equality.     He noted that the People's Republic of China has witnessed important progress since its founding nearly 60 years ago, with gender equality as the country's basic national policy and one of the core elements to pursue a harmonious society.     Six years away from the deadline of MDGs, China is now well on track for further progress to meet the goal in promoting gender equality, said Malik.     "There is almost no gender disparity to Chinese women's access to a living market, and there is much that the Asia-Pacific region can learn from China's lessons," he said.     The eight MDGs, set by world leaders at a UN summit meeting in 2000, also include relieving poverty, popularizing primary education, reducing child mortality and ensuring environmental sustainability.     As the Asia-Pacific region emerges stronger than any other one from the undergoing global financial crisis, he also believed the women in the region have a real prospect in redefining and strengthening their role in economy and society amid "a time of great changes".     "Women are the driving force to overcome poverty and hunger, fight illiteracy, prevent the spread of diseases and promote stability," he said.     More efforts were needed yet, Malik added. He urged both China and the whole region to eliminate even more bias towards empowering women and to bring the gender equality to a whole new level on the foundation of all the progress that has been made so far.