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BEIJING, Aug. 23 (Xinhua) -- China's insurance capital investments hit 2.45 trillion yuan (358 billion U.S. dollars) in the first seven months of this year, according to the country's insurance regulator. In July alone, the investments from insurance funds stood at 120.4 billion yuan, China Insurance Regulatory Commission (CIRC) said in a report on its website. Of the total insurance investment value, about 332 billion yuan, or 9.8 percent, went to the stock markets by the end of the second quarter of this year. During the same period, mutual funds investments suck 228.45 billion yuan, or 6.8 percent from the insurance capital. A booming equities market and an optimistic attitude towards the country's stock markets had led to an increasing investments, said the CIRC. Comparatively, in the first seven months, bank deposit of China's insurance capital decreased to 1.03 trillion yuan, 15.23 billion yuan less than in the first six months. The CIRC's statistics also reflected a slowdown increasing rate in premium income in the first seven months. Premium income was 678.64 billion yuan, representing a small increase of 80 billion yuan than the June figure.
BEIJING, Aug. 17 (Xinhua) -- State-run companies in China should stick to the leadership of the Communist Party of China (CPC), Vice President Xi Jinping said Monday. Xi made the remarks at a meeting held here to promote Party building in China's state-run enterprises. Party building lay at the core of the competitiveness of state-run enterprises, Xi said, adding that "the CPC's leadership over the enterprises should be upheld unswervingly... in order to help enterprises retain scientific development". Li Yuanchao, head of the Organization Department of the CPC Central Committee, said at the meeting that bosses of the state-run companies headquartered in Beijing should increase the Party organs' involvement in the companies' decision-making process. Party organs should participate in the process of the state-run companies' major decisions made by the companies' board meeting to ensure that they could play supervising functions, Li said. Meanwhile, He Yong, deputy secretary of CPC Central Commission for Discipline Inspection (CCDI), urged the bosses of the country's state-run companies to be cleanhanded. Restrictions and supervision over power should be intensified for the main leaders of the companies, He said, adding that the anti-corruption effort inside the state-run companies was an important part of the mechanism's construction. The state-run companies' bosses should also enhance their discipline education and loyalty to the Party, the official said. The anti-corruption effort in the state-run companies came after former chairman of Sinopec Chen Tonghai was sentenced to death last month with a two-year reprieve for taking huge bribes. Chen took about 195.73 million yuan (28.66 million U.S. dollars) in bribes from 1999 to June 2007 by taking advantage of his positions in Sinopec, one of the country's major oil refiners. Also present at Monday's meeting was Vice Premier Zhang Dejiang, who stressed that the top priority of state-run enterprises at the moment was to maintain steady and relatively fast development.
BEIJING, Oct. 3 (Xinhua) -- Most parts of China saw limited rainfall through Saturday as people could get view of a bright full moon in clear meteorological conditions at the traditional Mid-Autumn Festival. Only the southwestern and part of the northwestern regions saw some rainfalls, but starting Sunday, weather in those regions will also clear up for the locals to get view of the full moon, according to China Meteorological Administration. In the coming three days, parts of the northwestern Xinjiang Uygur Autonomous Region expect a weak rainfall with strong wind. Temperature will drop 4-8 degrees Celsius after the cold front moves over the region. Meanwhile, parts of the northeastern Inner Mongolia Autonomous Region and Heilongjiang Province will also see some weak rainfalls in the next three days. The Administration also warns of twin typhoons Parma and Melor churning in the Pacific Ocean. Typhoon Parma which now is bearing down on the Philippines expects to bring gales and major rainfalls along China's southeastern regions in its course during the coming three days.
BEIJING, Oct. 14 (Xinhua) -- China on Wednesday proposed closer cooperation among members of a regional security group to tackle the world economic recession. "Confronted with the global financial crisis and aiming at a steady economic growth, member states of Shanghai Cooperation Organization (SCO) should work together and seek mutual benefit," Chinese Vice Premier Li Keqiang told a SCO business forum in Beijing. The SCO was founded in 2001 to enhance security cooperation among its six member states, namely, China, Russia, Uzbekistan, Tajikistan, Kyrgyzstan and Kazakhstan. Mongolia, India, Iran and Pakistan are observers to the regional group. Chinese Vice Premier Li Keqiang attends a business forum of Shanghai Cooperation Organization (SCO) in Beijing, capital of China, Oct. 14, 2009 "Despite the world financial crisis, the trade volume between China and some SCO member states has been growing over the past year," Li said. "The crisis didn't shake up the foundation for SCO states' cooperation. Instead, it offered more opportunities for them to work together," Li said, citing the fact that SCO members are complementary in economies and have an increasingly-connected market. Although the total population and territories of SCO member states amounted to a quarter and one fifth of the world's total, their overall economic scale and trade volume made up only the world's 11 percent or 10 percent respectively, Li said. "Thus, there is a huge potential for SCO member states to expand economic and technology cooperation," Li said. He called for SCO member states to carry out the joint actions to deal with the global slump and accelerate the process of trade and investment liberalization. He proposed promoting the projects that involved and benefited multiple parties, building infrastructure networks of transportation, communications and energy. It was necessary to step up cooperation in modern agriculture, emerging industries, high-tech and social welfare so as to benefit the people, Li said. He vowed that China will unswervingly pursue the path of peaceful development, take a more active part in SCO affairs, fully participate in regional economic and regional cooperation in a bid to work for the welfare of 1.5 billion people within the SCO member states. The business forum was an important event under the framework of the eighth SCO prime ministers' meeting, which took place on Wednesday.