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BEIJING, Feb. 26 (Xinhua) -- Chinese share prices registered a dramatic 3.87 percent drop Thursday as investor confidence collapsed ahead of the wary market performance and caused panic selling, analysts said.     The decline on overseas markets also had a negative effect.     The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher after the government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2,121.52 points in the afternoon session.     The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.90 points, down 463.76 points, or 5.63 percent.     Total turnover was 198.52 billion yuan (29.07 billion U.S. dollars), down from 209.05 billion yuan on Wednesday.     Losers led gainers by 841 to 34 in Shanghai and 719 to 36 in Shenzhen.     The weak performance of both the Wall Street and Hong Kong shares had cast a shadow over the mainland market, said analysts.     The financial sector, which led a market rebound Wednesday, failed to support the market in afternoon trading as it dipped 4.76 percent.     Shenzhen Development Bank, which almost fell by the 10-percent daily limit, ended up with an 8.91 percent drop to 13.8 yuan.     China Merchants Bank, which rose by 9.57 percent Wednesday, slipped4.36 percent to 14.27 yuan.     Machinery, automobiles, media and semiconductor sectors led the retreat, dropping 7.88 percent, 7.54 percent, 7.68 percent and 7.79 percent, respectively.     Non-ferrous metals also fell by 7.54 percent though the government announced a stimulus package for the industry Wednesday.     Chenzhou Mining, Corun New Energy, Tibet Mining, Advanced Technology and Materials, Western Metal Material, Sichuan Hongda and Xiamen Tungsten fell by the 10-percent daily limit.     Yongan Forestry bucked the trend, rising by the 10-percent daily limit. The forestry sector managed to close at no more than a 2 percent decline, as domestic media reported a government stimulus plan for forestry was under discussion.     China Eastern Airlines, one of the country's top three airlines, announced Thursday that its shareholders had passed a share placement plan which intended to raise 7 billion yuan from its parent company, China Eastern Group.     The company will issue 1.44 billion Shanghai-listed A shares at a price of 3.87 yuan per share, as well as 1.44 billion Hong Kong-listed H shares at 1.00 yuan each, according to the announcement.     The fund would reduce the company's asset liability ratio and improve its financial situation, said the company.     China Eastern Airlines shares were suspended Thursday.     Hong Kong shares dipped 0.85 percent to 12,894.94 points Thursday, while U.S. stocks fell Wednesday. The Dow Jones industrial average was down 80.05 points, or 1.09 percent, at 7,270.89. The Standard & Poor's 500 Index dropped 8.24 points, or 1.07 percent, to 764.90. The Nasdaq Composite Index dropped 16.40 points, or 1.14 percent, to 1,425.43.

ADDIS ABABA, April 6 (Xinhua) -- The Chinese representative to the 120th Assembly of the Inter-Parliamentary Union (IPU) on Monday urged all countries to abandon any form of trade and investment protectionism amid the sweeping financial crisis.     "During times of economic difficulties, the international community should abandon all forms of trade and investment protectionism and work for the progress of the Doha round of negotiations at an early date," Uyunqimg, Vice chairwoman of the Standing Committee of China's National People's Congress, said at the Addis Ababa meeting. Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, attends the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis"She told fellow parliamentarians that the outbreak of the global financial crisis added to the destabilizing factors and uncertainties in the international political and economic arenas, and posed grave challenges to the political, economic and social life of various countries.     "Therefore, it is timely and fitting for this IPU Assembly to put the tackling of the crisis top on its agenda," she said.     Due to their low level of economic development, lack of diversity in economic structure and vulnerability of the financial system, developing countries are far more severely affected by the financial crisis than developed countries.     The Chinese official called on the international community, developed countries in particular, to shoulder their due responsibilities and obligations, continue to honor commitments of assistance and debt reduction, maintain and increase assistance to developing countries to help them tide over the difficulties and maintain financial stability and economic growth.     "We hope that parliaments around the world will play a positive role, avoiding any legislation that is protectionist in nature and urging their respective governments to shun any action that may aggravate the economic hardship for developing countries under the current circumstances," she said.     The April 5-10 meeting attracted over 1,000 legislators from around the world, and the delegates are scheduled to discuss the political, economic and social situation in the world with the overall theme of "Parliaments: Building Peace, Democracy and Development in times of crisis."Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, addresses in the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis".

NEW YORK, Feb. 13 (Xinhua) -- In her first major policy speech as U.S. secretary of state, Hillary Rodham Clinton on Friday attached great importance to developing stronger relations and having closer cooperation with Asian countries, in particular China.     Addressing an audience at Asia Society New York Headquarters on the eve of her four-nation Asian trip scheduled to start on Sunday, the first foreign visit since she was sworn in on Jan. 21, Clinton said that Washington is committed to a new era of diplomacy and development in which Washington will use "smart power" to work with historic allies and emerging nations to find regional and global solutions to common global problems.     "In making my first trip as secretary of state to Asia, I hope to signal that we need strong partners across the Pacific, just as we need strong partners across the Atlantic," she noted, calling Asia "a contributor to global culture, a global economic power, and a region of vital importance to the United States today and into our future."     The secretary of state's destinations include Japan, Indonesia, the Republic of Korea and China.     The United States and the Asian countries need to support and help each other in dealing with the gravest global threats today, which include financial instability and economic dislocation, terrorism and weapons of mass destruction, food security and health emergencies, climate change and energy vulnerability, stateless criminal cartels and human exploitation, said Clinton.     While giving the audience a brief rundown of the key issues she will be addressing during her Asian tour next week, Clinton devoted much of the time to the U.S.-China relations.     The United States doesn't see China on the rise as an adversary, said Clinton. To the contrary, the Obama administration believes that the United States and China can "benefit from and contribute to each other's successes."     Washington also believes it is "in our interest" to work harder to build on areas of common concerns and shared opportunities with China, she added.     "You know very well how important China is and how essential it is that we have a positive cooperative relationship," said the top U.S. diplomat. "It is vital to peace and prosperity not only in the Asia-Pacific region but worldwide."     "Our mutual economic engagement with China was evident during the economic growth of the past two decades, it is even clearer now at economic hard times and in the array of global challenges we face from nuclear security to climate change to pandemic disease and so much else," she noted.     "Even with our differences, the United States will remain committed to pursuing a positive relationship with China, one that we believe is essential to America's future peace, progress and prosperity," she stressed.     Citing an ancient Chinese saying that "When you are in a common boat, you need to cross the river peacefully together," Clinton said that she believes the ancient Chinese wisdom must continue to guide both countries today.     The secretary of state announced that the two sides will resume mid-level military-to-military discussions later this month.     "And we look forward to further improved relations across the Taiwan Strait," she added.     She also revealed that during her stay in Beijing, she would discuss with the Chinese leaders on the structure of broadening dialogue between the two sides, on the basis of the Strategic Economic Dialogue from the previous administration.     Speaking of her first stop in Japan, Clinton said that the United States' security alliance with Japan, which will be 50 years old next year, "has been and must remain unshakable."     "We anticipate an even stronger partnership with Japan that helps preserve the peace and stability of Asia and increasingly focuses on global challenges ...," she added.     The United States and Indonesia now "have an opportunity for stronger partnership in education, energy and food security," stated Clinton, adding that the two sides are committed to pursuing such a partnership with a concrete agenda during her visit to the Southeast Asian nation.     Calling the Republic of Korea "one of our staunchest historic allies," Clinton said that the two countries are committed to expanding trade in a manner that benefits both, and "we will work together to that end."     "So I will leave for Asia Sunday with a firm commitment to working very hard with our partners across the Pacific," she concluded in her nearly-half-hour speech.     The secretary of state also took the opportunity to offer peace to the Democratic People's Republic of Korea (DPRK) in exchange for the latter's complete abandonment of its nuclear project.     The Obama administration is committed to working through the six-party talks on the Korean Peninsula nuclear issue and normalizing relations with the DPRK, if the latter totally abandons its nuclear weapons program, she said.     If the DPRK is prepared to "completely and verifiably" abandon its nuclear program, the Obama administration will be willing to normalize bilateral relations with the country, she noted, adding that Washington will also assist Pyongyang in meeting its energy and other economic needs if that happens.     In her speech, Clinton also underlined Washington's endorsement of "open and fair trade," in an apparent attempt to soothe many countries' concerns that the ongoing global financial crisis may lead to a fresh round of trade protectionism, particularly in the developed countries.     "(In the face of the financial crisis,) we cannot respond with a race to erect trade and other barriers. We must remain committed to a system of open and fair trade," she stated.     The U.S. Congress' push for a "Buy America" provision in the massive economic stimulus package proposed by the Obama administration has recently invited concerns from major trading partners of the United States, including Europe, Canada and Japan.

GUILIN, (Guangxi), Feb. 14 (Xinhua) -- China will tighten water resources management and take measures to reduce waste to cope with worsening water shortage, Water Resources Minister Chen Lei said here Saturday.     Water shortage impelled us take into consideration of overall economic and social development and economical use of water resources to ensure sustainable economic and social development, Chen said at a national conference in Guilin, in southern Guangxi Zhuang Autonomous Region.     China is planning to reduce water consumption per unit of GDP to 125 cubic meters by 2020, down 60 percent from now, Chen said.     Water consumption averaged 229 cubic meters per 10,000 yuan worth of products, according to statistics provided by the Ministry of Water Resources (MWR) at the end of 2008. That figure was down 10 percent compared with the previous year.     Statistics released Saturday showed the country lacked 40 billion cubic meters of water every year, with almost two thirds of cities suffering various levels of water shortages.     More than 200 million rural people face drinking water shortages.     At the same time, farmland stricken by drought reached 230 million mu (15.3 million hectares) every year, nearly 13 percent of the total farming area.     The most severe drought in half a century, which is hitting China this spring, affected 111 million mu of crops so far, with 4.68 million people and 2.49 million livestock threatened by water shortages, according to official statistics from the State Flood Control and Drought Relief Headquarters.     "We must take strict measures to preserve water resources in the face of the severe lack of water worsened by factors such as overuse, pollution and drought ," Chen said.     The ministry also expected to increase 79.5 billion cubic meters of water resources by 2020 and secure water supplies for both urban and rural people.     Chen proposed reinforcement of laws and regulations on water allocation, consumption and preservation as a fundamental way to achieve this goal.

BEIJING, Feb. 22 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao on Sunday called for all efforts to rescue the miners trapped or injured in the coal mine blast in north China's Shanxi Province.     As of 6 p.m., 74 people were confirmed dead from the accident which occurred early Sunday morning at the Tunlan Coal Mine of Shanxi Coking Coal Group.     The president and premier urged rescuers to spare no efforts to save the trapped miners and ensure the safety of rescuers, and prevent secondary accidents.     Vice Premier Zhang Dejiang headed for the site Sunday evening to direct the rescue operation and console the injured miners and families of the victims. Zhang also declared to set up an investigation team to probe into the cause of the accident.     Leaders from the State Administration of Work Safety and Shanxi provincial officials have also arrived at the scene. Luo Lin (1st L, rear), head of the State Administration of Work Safety, Zhao Tiechui (R, rear), head of the State Bureau of Coal Industry, and Zhang Baoshun (C, rear), the Provincial Communist Party Committee chief, talk with a miner injured during the accident at a hospital Gujiao City, north China's Shanxi Province, Feb. 22, 2009. 

来源：资阳报