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BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50. The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars). Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge. China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months. Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year. Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation. The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.
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.

BEIJING, Sept. 11 -- Inflation eased to its lowest level in August since June last year, giving the government more policy leeway to prevent an economic slowdown. The consumer price index (CPI), the main gauge of inflation, rose 4.9 percent year-on-year, compared to 6.3 percent in July, the National Bureau of Statistics (NBS) said yesterday. The CPI has been sliding since May, but still many economists were caught by surprise by last month's drop because they had forecast it to be above 5 percent. The month-on-month fall was only 0.1 percent. But last month's producer price index (PPI), a gauge of factory gate inflation, rose a record 10.1 percent year-on-year, after jumping 10 percent in July. Nevertheless, the low CPI figure gives the government "more policy room to sustain growth," Citigroup economist Ken Peng said. He suggested the authorities consider further policy changes favoring growth, which could shift to full gear next month. Economic growth has been slowing since the second quarter of last year, when the government adopted monetary and credit measures to rein in inflation and prevent the economy from overheating further. Yet economists began warning of a recession since the beginning of this year, especially because the country's export sector, a key growth engine, started losing steam on weaker foreign demand. The government responded it would strive to maintain a stable economic growth this year, leading to speculation that it would soon ease the tightening measures. But any step to stimulate the economy, such as lower interest rates or faster loan growth, risks spurring demand and stoking inflation again. "Unless there's an abrupt slowdown, there's no need for a major change in the marco-control measures," said Lian Ping, an economist with the Bank of Communications. "The current 10 percent GDP growth is largely seen as acceptable." The CPI rise is likely to stabilize around 5 percent during the rest of the year, he said, because food prices may continue to drop. Inflation fell last month mainly because of a drop in food prices, which make up one-third of the inflation basket. Food prices slid 0.4 percent from July. A falling inflation rate gives the government a good chance to lift its price control on products such as fuel, water, and electricity further, Lehman Brothers economist Sun Mingchun said. In the past year, policymakers have managed to freeze the prices of public utilities, and fuel and power tariff. They introduced temporary price curbs on some other goods, too, to rein in inflation. Yet soaring labor and raw material costs, reflected in the rising PPI figure, have eaten into the profit of local enterprises because price control and fierce competition prevented them from passing the inflationary pressure on to consumers. Such price liberalization could make the CPI rise again in the next few months, Sun said. "But if implemented in a gradual and orderly way, inflation should remain below 6 percent year-on-year during the rest of the year."
BEIJING, April 7 (Xinhua) -- Chinese Premier Wen Jiabao said here on Monday the free trade agreement signed between China and New Zealand was of importance and profound significance. Wen told New Zealand Prime Minister Helen Clark in their talks that the signing of the free trade accord "explored broad prospects for deepening mutually beneficial cooperation between the two countries". He added the China-New Zealand ties were faced with important new development opportunity. The two reached consensus to push the China-New Zealand comprehensive, friendly and cooperative relations to a new high. Wen hailed the vigorous development of China-New Zealand relations in recent years, saying the practical cooperation in every area had made constant breakthroughs, bringing real benefits to the two peoples. Chinese Premier Wen Jiabao meets New Zealand Prime Minister Helen Clark in Beijing on April 7, 2008. The two attended the signing ceremony of the free trade agreement and respectively delivered speeches He noted the two nations shared broad common interests in promoting peace, stability and prosperity in the Asia-Pacific region. Wen pledged China was ready to implement the annual meeting mechanism between the leaders of the two countries, strengthen consultation at all levels and consolidate the political basis for the bilateral relations. Wen suggested the two sides make full use of complementary advantages in sustainable development areas, such as climate change, energy saving, environmental protection and low-carbon economy, foster new growing points in trade and economic cooperation, expand cooperation on culture, education, science, technology and justice, and increase communication and coordination on important international and regional issues. Clark said since China was an important cooperation partner, New Zealand attached great importance to the bilateral relations from a strategic level. "New Zealand explicitly sticks to the one-China policy, advocates to enhance contact and cooperation with China and supports China in its efforts to play an active role in the world," she said. On the FTA deal, Clark said New Zealand and the country's business circle would firmly support and earnestly carry out the agreement. She added New Zealand was ready to maintain high-level exchanges with China, step up exchanges and cooperation in the spheres of goods, service trade, agriculture, stock-breeding, energy saving, environmental protection, culture and education, and increase consultation and cooperation between the two countries in the United Nations and the Asia-Pacific Economic Cooperation. After the talks, the two attended the signing ceremony of the free trade agreement and respectively delivered speeches.
GUANGZHOU, April 20 (Xinhua) -- Three people were confirmed dead in mud flows and strong winds caused by Typhoon Neoguri in south China's Guangdong Province, said the provincial flood-control headquarters on Sunday. The typhoon claimed two lives in Shenzhen City, when a mud flow inundated a section of road under construction. One person was hit and killed by an aluminum sheet blown off a stadium roof by strong gales in Zhuhai City, according a headquarters official. The headquarters did not identify the victims. A jeep and a pedicab inch against water on the flooded road in Shandou City, south China's Guangdong Province, April 20, 2008. Typhoon Neoguri, the first of its kind hitting China this year, brought to Shantou City a heavy rainfall lasting for more than 10 hours on Sunday Neoguri hit south China on Saturday with heavy rains and strong winds. The headquarters received reports of damage from the cities of Yangjiang, Jiangmen, Zhuhai and Shenzhen. Vehicles inch against water on flooded roads in Shandou City, south China's Guangdong Province, April 20, 2008. Typhoon Neoguri, the first of its kind hitting China this year, brought to Shantou City a heavy rainfall lasting for more than 10 hours on SundayIn Yangjiang City, the typhoon's landing point, 274,000 people were affected and 7,000 hectares of farmland were inundated. Losses from suspension of industrial production and damage of embankments and telecommunications facilities were valued at 96 million yuan (14 million U.S. dollars). According to the provincial observatory, the center of the storm is moving eastward to Shanwei City on the eastern coast of Guangdong, which is receiving up to 112 millimeters of rain per hour. The headquarters said water levels in all major reservoirs in the province were under the danger mark as of Sunday. But the risks of mountain torrents and mud flows were still high, since rains brought by Neoguri were expected to continue.
来源:资阳报