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BEIJING, April 9 (Xinhua) -- The Ministry of Finance has imposed a pay cap for top executives at state-owned financial institutions as the financial crisis eroded earnings of such companies in 2008, the ministry said Thursday in a circular on its website.     The new rule, which came out amid rising public grumbles about huge pay packages for top executives at state-owned financial companies, outlined the basic line that pay for executives in 2008should be no more than 90 percent of the level in 2007.     As of 9 p.m., two hours and half after the news was posted on the web Sina.com.cn, 584 netizens made comments. Nearly all of them were supportive of the move. The undated photo shows the gate of headquaters of the Ministry of Finance in Beijing. Total executive pay for 2008 at financial institutions - which many are still computing - must not surpass 90 percent of the 2007 levels, the Ministry of Finance (MOF) announced yesterday    Under the plan, pay refers to pre-tax income, including salary, bonus, and social insurance.     The rule would enhance equal income distribution and push forward reform in pay mechanism, according to the ministry.     The circular said it was in line with the current domestic and international situation for executives at some state-owned financial institutions to voluntarily cut their pay despite their companies posted rising profits.     Companies which had a declining income last year should slash another 10 percent based on the basic line. Reductions should be deeper if companies suffered steep drop in profits, according to the circular.     The ministry demanded to narrow pay gap among executives at companies in the financial sector, calling for bigger cuts for those who received much higher pay than the average in 2007. Caps were also urged to be imposed on pay for staff at financial companies to make a clear difference in posts and performance.     It is the second time that MOF had set such pay limits. In an earlier circular in February this year, MOF ordered that the 2008 salary for top executives of state-owned financial institutions should be limited within 2.8 million yuan (about 410,000 U.S. dollars).     The new move aimed at avoiding salary competition between some financial institutions when deciding the salaries for their executives in 2008, said Guo Tianyong, a professor at the China Central Finance University.     It is necessary to put a cap on executive salaries to prevent unfair distribution of income and a larger gap between the rich and poor, he said.     In March, the government ordered a crackdown on government "hospitality" budgets, including a 15-per-cent cut in car-buying and fuel funds as well as an across-the-board halt to the building of any new office compounds before the end of 2010.     Chinese Premier Wen Jiabao said the government should take the leading role in promoting frugality and should ensure government spending goes where it is most needed amid the economic crisis.

BEIJING, March 20 (Xinhua) -- Top Chinese leaders paid visits on Thursday and Friday to the 2009 Energy Saving, Emissions Reduction and New Energy Science and Technology Expo, which is held at the Beijing Exhibition Hall from March 19 to 23.     The leaders of the state and the Communist Party of China included Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang. Chinese President Hu Jintao (4th L) talks with an exhibitor in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. President Hu visited the expo on March 20.They looked around the booths, watching carefully fuel cell cars, hybrid electric vehicles and new energy-saving washing machines, and getting to know the latest measures the government has taken for emission reduction and new energy development.     Hu Jintao emphasized that China should enhance its energy saving and continue to develop renewable energy sources in light of the present global economic downturn.     China would take an active part in international cooperation to cope with climate changes and jointly build ecological civilization together with other countries, Hu said. Wu Bangguo (2nd R), chairman of the Standing Committee of the National People's Congress, China's top legislature, visits the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. Chinese Premier Wen Jiabao (C) looks at exhibits in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 19, 2009. Premier Wen visited the expo on March 19

BEIJING, Feb. 23 (Xinhua) -- China and Vietnam Monday marked the final demarcation of their land border at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region.     The completion of the demarcation would be conducive to peace and stability of the border area, promote trade and exchanges, and push forward their comprehensive and strategic partnership of the two countries, said a statement from China's Foreign Ministry.     The 1,300-kilometer border starts at the junction of China, Vietnam and Laos and continues along the Beilun River to the coast. Yunnan Province and Guangxi Zhuang Autonomous Region are on Chinese side, and Cao Bang, Lang Son, Dien Bien, Lai Chau, Lao Cai, Ha Giang, Guang Ninh are in Vietnam.     In the late 19th Century, China's Qing Dynasty and the French colonial administration in Vietnam concluded a treaty delineating the border. The border negotiations started in the 1970s and were suspended later that decade. Chinese State Councilor Dai Bingguo (L, C) shakes hands with Vietnamese Deputy Prime Minister Pham Gia Khiem after unveiling the No. 1116 boundary marker in Pingxiang City in south China's Guangxi Zhuang Autonomous Region, opposite to Lang Son City of Vietnam, Feb. 23, 2009. China and Vietnam Monday marked the final demarcation of their land border at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region. More than 400 government officials and about 400 representatives from both countries, including those who attended the land border demarcation, were present at a ceremony after the demarcation. In the early 1990s, China and Vietnam resumed negotiations, and agreed to discuss a new treaty based on that signed in the 19th Century. They finalized the land boundary treaty on Dec. 30, 1999.They started demarcation work in 2001 and finished late last year.     The China-Vietnam joint committee for land border demarcation was established by both governments in November 2001. The committee was in charge of border demarcation and marker planting as well as drafting a protocol on border demarcation and marker planting.     The joint committee comprised 12 joint working teams. These teams were responsible for on-site demarcation work. In December 2001, the first marker on the border was installed at the Mong Cai-Dong Xing border gate.     The two sides reached an agreement on the remaining issues related to the land boundary survey on Dec. 31, 2008. The agreement achieved the goal set by leaders of China and Vietnam to complete the survey and the erection of boundary markers this year. Chinese State Councilor Dai Bingguo (4th R) shakes hands with Vietnamese Deputy Prime Minister Pham Gia Khiem on the ceremony marking the completion of land border demarcation and the erection of boundary markers in Pingxiang City in south China's Guangxi Zhuang Autonomous Region, opposite to Lang Son City of Vietnam, Feb. 23, 2009. China and Vietnam Monday marked the final demarcation of their land border at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region. More than 400 government officials and about 400 representatives from both countries, including those who attended the land border demarcation, were present at a ceremony after the demarcation. During the eight-year effort, Chinese and Vietnamese officials worked almost one million days on the demarcation work and held 14rounds of meetings between the heads of the two governmental-level delegations, 34 rounds joint committee's meetings and 15 rounds of expert group meetings, which enabled the completion of the demarcation along the entire length of China-Vietnam land border with 2,000 border markers erected.     Advanced technologies were applied in the demarcation work, such as the geography information, global positioning and remote sensing systems, which ensured the accuracy of the demarcation work and a clear borderline.     The outcome was achieved under the direction of leaders of the two countries, said the ministry statement. It was also the result of concerted efforts of government delegations, experts, departments such as ministries of foreign affairs, national defense, public security, finance, survey-cartography and provinces along both sides of the border. Chinese State Councilor Dai Bingguo (L) shakes hands with Vietnamese Deputy Prime Minister Pham Gia Khiem after the ceremony marking the completion of land border demarcation and the erection of boundary markers in Pingxiang City in south China's Guangxi Zhuang Autonomous Region, opposite to Lang Son City of Vietnam, Feb. 23, 2009. China and Vietnam Monday marked the final demarcation of their land border at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region. More than 400 government officials and about 400 representatives from both countries, including those who attended the land border demarcation, were present at a ceremony after the demarcationWorking staff from the joint survey teams also contributed to the success, working with extraordinary difficulties caused by complicated landscapes and bad weather conditions.     The two sides resolved complicated issues in a frank and friendly manner, said the statement.     By taking into account mutual concerns and trying to mitigate negative impacts on the lives and production of residents along the border, they finally achieved a mutually beneficial result. A ceremony marking the completion of land border demarcation and the erection of boundary markers is held in Pingxiang City in south China's Guangxi Zhuang Autonomous Region, opposite to Lang Son City of Vietnam, Feb. 23, 2009. China and Vietnam Monday marked the final demarcation of their land border at the Youyiguan border gate in Pingxiang City in south China's Guangxi Zhuang Autonomous Region. More than 400 government officials and about 400 representatives from both countries, including those who attended the land border demarcation, were present at a ceremony after the demarcation.

BEIJING, Feb. 5 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao have ordered all-out efforts to combat the severe drought in the country's vast wheat-growing area to ensure a good summer harvest, a State Council meeting was told Thursday. The central government on Thursday decided to earmark another 300 million yuan (44 million U.S. dollars) as drought relief fund in additional to 100 million yuan already allocated. The fund will be used to buy agricultural machinery and other production materials.     Lack of rainfall has led to severe drought in northern China, leaving about 141 million mu (9.3 million hectares) wheat or 43 percent of the country's total affected, according to the Ministry of Agriculture (MOA). People irrigate the wheat field at Xiaolu Village in Yuzhou, a city in central China's Henan Province, on Feb. 4, 2009. Henan, China's major grain producer, issued a red alert for drought on Jan. 29. The provincial meteorological bureau said the drought is the worst since 1951. The drought has affected 63 percent of the province's 5.26 million hectares of wheat.    About 145 million mu crops have been affected by the drought nationwide, or 40 million mu more than the same period last winter.     Government at all levels should give anti-drought work a priority in an effort to stabilize grain production, increase farmers' income and ensure agricultural production, the State Council said.     Relevant departments in local regions were asked to enhance farmland management, mobilize human resources, ensure technology service and enlarge irrigation areas.     Efforts should also go to build emergency water resources projects and carry out artificial precipitation to alleviate water shortage and ensure drinking water for both people and livestock. The Ministry of Water Resources also said it would enhance supervision and launch emergency plan when necessary.     Relevant departments should allocate special funds to aid poverty-stricken people in rural areas.     The Cabinet said it will send working teams to eight drought-hit provinces to discuss anti-drought procedures. The MOA has already sent 12 working teams of experts to the drought-hit provinces, to instruct farmers on drought relief work.     Plant diseases and pest prevention were discussed and local governments were advised to supervise and prevent the spread of severe animal diseases.     Efforts should also be made to monitor or combat forestry fire, upgrade anti-disaster ability and avoid casualty, the State Council said.

HANGZHOU, Feb. 22 (Xinhua) -- Although the world financial crisis has cast a big shadow on China's prosperous eastern coastal regions, companies in these areas are very likely to see the first gleam of economic recovery in 2009, according to experts.     Entrepreneurs said their confidence stems mainly from the enlarging domestic markets and increasing demand, which are backed by the government's powerful stimulus package and a series of favorable policies.          POSITIVE SIGNS EMERGE     Just two months ago, more than 60,000 businessmen in the eastern Zhejiang's Yiwu small ware town -- the world's largest small commodities market -- were tasting bitterness, as they faced declining foreign demand and fewer orders resulting from the global economic downturn.     However, the turning point came after the country's traditional Lunar New Year holiday in late January. On the first trading day after the holiday, the commodity hub witnessed 165,000 customers, representing an increase of 10 percent over the same day last year, and the businessmen there were expecting more customers.     Compared with the stagnancy of last year, the market regained its vigor as most of the trade dealers came to find business opportunities and increase their orders for commodities.     Zhejiang's neighboring Jiangsu Province saw electric consumption surge. It used 443 million kwh of electricity on the first day of February. The figure rose sharply to 680 million kwh nine days later, indicating booming industrial production.     DOMESTIC MARKET EXPANDED     Confidence of businessmen in Zhejiang's Haining City was also bolstered by booming economic activities and increasing demands from domestic markets. The city is famous for leather industry.     "Currently, we are not as worried as we were last year when the economic turmoil spread to every corner of the markets. I am really glad to see that my goods are still welcomed," said Zha Jialin, vice general manager of Haining Leather Town Co.     Ye Xuekang, general manager of Haining Jinda New Material Co., also expressed his optimism, saying the company is under normal operation and products orders from domestic customers saw obvious increase.     "Some of the production lines have to operate for a full 24 hours to meet the demands," Ye said.     "It was the move to shift export destinations from overseas markets to domestic ones that helped us. Although various negative factors including surging prices of crude materials and currency fluctuation have almost strangled the company, the orders from new markets greatly offset the losses in foreign markets," he said.     Economists noted that the government's efforts in adding investments, expanding vast domestic markets and increasing consumption are the biggest contributions to the country's economic recovery.     In September, the government presented a four-trillion-yuan (about 586 billion U.S. dollars) stimulus plan as part of its efforts to cope with the financial crisis.     Adding to the plan were ten industrial revival policies, which were expected to provide several pillar sectors with fund support, tax breaks and other favorable policies. Automobile, shipment and textile industries were among those that befitted.          PRUDENT OPTIMISM TOWARD THE RECOVERY     Zhuang Jian, a senior economist with the Asia Development Bank, told Xinhua, "The country's economy will gradually recover. However, the process may vary largely from one region to another, depending on economic development degree, enterprise's anti-risk ability, and fortune capacity in different areas."     Zhang Hanya, deputy chairman of the Investment Association of China, echoed Zhuang, saying that compared with central and western areas, enterprises and local governments in eastern regions can do a better job.     Zhang described their advantage as "natural abilities" -- the coastal areas in eastern China have long been served as the battlefront or the pioneers of the country's economic reforms.     "As for the local governments in eastern areas, flexible policies, sufficient capital reserves and fiscal support are the musts to guarantee economic development," he said.     Take Shanghai, another important economic engine of China, for example. The city's new Pudong area's car sales rose 15.8 percent in January over the same period last year thanks to a quick respond to the central government's automobile revival plan.     However, experts warned against blind optimism about economic recovery, as the global economic situation is still complex and changeable.     Zheng Yumin, head of Zhejiang Industrial and Commercial Administration, warned enterprises to cope with the "second-wave" of crisis attack, noting exports were still experiencing a tough time, trade-protectionism sentiments in some countries may make the situation even worse.     "After all, we should keep alert," he said.