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SHENZHEN, Feb. 7 (Xinhua) -- China started construction of the eastern segment of the country's second West-East natural gas pipeline in Shenzhen City, Guangdong Province on Saturday.     Chinese Vice Premier Li Keqiang attended the kick-off ceremony announced the start of the construction.     The pipeline, the second after the first West-East natural gas transfer project, will cross 15 regions and carry 30 billion cubic meters of natural gas every year to Zhejiang, Shanghai, Guangdong and Hong Kong, among others.     When visiting the construction site, Li said the pipeline under construction is the country's most expensive energy project in decades and the world's longest natural gas pipeline. It is of great importance to ensuring China's energy security, coordinating regional economic development, deepening the ties between Hong Kong and inland provinces and promoting economic growth.     The 8,704 km pipeline will be made up of one trunk line and eight sub-lines. Construction of the west segment of the pipeline was started in February 2008 and is expected to be completed by the end of the year. The whole line will be operational by the end of 2011.     As China battles the financial crisis and expands its domestic demand, the second West-East gas pipeline project is a landmark project that will boost people's confidence to overcome the crisis, said an official with the National Development and Reform Commission.     The total investment of the second West-East gas pipeline was 142.2 billion yuan (20.82 billion U.S. dollars). The eastern segment stretches 2,472 km, with an investment of 93 billion yuan.     The government approved the east segment project during an executive meeting of the State Council or the Cabinet last November, in a hope to ease natural gas shortage, boost economic development and popularize utilization of clear energy.     Zhou Dadi, a researcher with the Energy Research Institute of National Development and Reform Commission said the construction of the gas pipe is essential for China to increase gas resources and ensure energy security.     It is hoped that construction will boost consumption and increase investment amid a world economic downturn, Zhou added.     It is estimated that investment will top 300 billion yuan in other relevant industries, including machinery production, electric technology, and construction material sectors.     Dong Xiucheng, professor with China University of Petroleum said this project will help China increase clean energy consumption.     In China, coal makes up 70 percent of the total energy consumption, 40 percentage points higher than the world average. Natural gas consumption only accounts for three percent of the total.     The completion of the second pipeline is expected to save 11.06million tonnes of coal every year.     The first West-East gas pipeline was finished in 2004. It has provided 42 billion cubic meters of gas to 3,000 factories and nearly 200 million people over the past five years     Wang Yang, secretary of the Guangdong Provincial Committee of the Communist Party of China, and Donald Tsang, chief executive of the Hong Kong Special Administrative Region, also attended Saturday's ceremony.

BOAO, Hainan, April 19 (Xinhua) -- Chinese officials and entrepreneurs said Sunday that China should have bigger say in setting commodity prices, as oil and iron ore prices saw roller-coaster-like fluctuations in the past two years.     The drastic price changes are not reflecting real demand, but are propped up by financial speculators, said the senior executives of China's top energy enterprises at the Boao Forum for Asia (BFA) annual conference 2009, which concluded Sunday in the island resort of Boao in south China's Hainan Province.     They said commodity prices should be pulled back to normal track to reflect real demand, otherwise the inflation woe will come back and make business expansion unsustainable.     PRICE AND REAL DEMAND     "Although we are the biggest commodity buyer in the world, our role in the price setting is limited," said Zhang Xiaoqiang, vice minister of the National Development and Reform Commission (NDRC), China's economic planning agency.     China's steel makers have fallen into a prolonged bargain with the world's major iron ore producers, demanding a sharper price cut than the 20 percent-off deal plan offered by the Rio Tinto of Australia, as the world's No.1 iron ore importer has less demand amid the economic slowdown.     Iron ore prices increased five fold in the five years before 2008.     Xu Lejiang, boss of the Baosteel Group Corporation, China's largest steel maker, said at the forum that nothing is more important than the normalization of iron ore pricing, without elaborating how much more price cut he wants.     The continuously rising iron ore prices partly reflected demand, but that's not the whole picture, said Xu.     The prices tumbled by more than two thirds from a peak of 187 U.S. dollars per tonne last year. Speculative trading on iron ore shipping index helped fan the volatility, since shipping costs comprise a large share of the iron ore prices.     The Baltic Dry Index (BDI), a main gauge of international shipping activities, has plummeted from a peak of 11,000 points to above 600 points, which is certainly what people are reluctant to see, Xu said.     His view was echoed by Fu Chengyu, chief executive officer of the China National Offshore Oil Corporation (CNOOC), the largest offshore oil producer in China. He said the prices are bound to fall after irrational rise.     He said the loose monetary policy in the United States should be blamed for the skyrocketing oil prices last year.     "If no measures were taken, the world would see another round of inflation after we weather through the crisis," he said.     He noted the pre-emptive measures should be put into place to avoid that, otherwise the next headache for the G20 leaders will be how to fight inflation.     "We should prepare for tomorrow," Fu said.     Zhang Xiaoqiang said international collaboration is essential to enhance the oversight of the financial speculation.     ACTION BEFORE CRISIS     The volatile external conditions forced many Chinese energy enterprises to seek their own way to offset the negative impacts of price fluctuations.     Cost saving has always been important to CNOOC, said Fu. "We have cut the cost to 19.78 U.S. dollars per barrel, and that has allowed us to get through with ease when prices fall."     "We step up investment with the current cheap prices, and that will help us flourish after the crisis," Fu said.     To offset the negative impacts of price changes, many Chinese enterprises have been engaged in hedge trading and other derivative products investment, but many failed with mounting losses.     "CNOOC has lost nothing, since we use hedge trading to preserve value, rather than make money," he said.     "Hedge trading is not speculation," said Fu who has 30 years of experience in the oil industry.     Fu called on Asian countries to negotiate with the world's major crude oil suppliers, as Asian nations have to pay 1 to 2 U. S. dollars more per barrel than other buyers.     Zhang Xiaoqiang noted China will continue to liberalize domestic prices of energy products and resources, saying the recent reform of refined oil prices is a good start.     "We should beef up our commodity reserve to ensure plenty supply in order to offset the negative impacts of big price changes," Zhang said.     As the Chinese government has announced plans to build the second batch of national oil reserve bases, enterprises can try to have their commercial energy reserves in the future.

SEOUL, April 6 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), said here Monday that the strategic and cooperative partnership between China and the Republic of Korea (ROK) has witnessed rapid growth thanks to concerted efforts made by both.     Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks when meeting ROK President Lee Myung Bak.     Li first congratulated the successful meeting between Lee and Chinese President Hu Jintao amidst the G20 financial summit in London. Lee, in return, highly spoke of the contribution made by China to the results scored in the summit.  Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with President of the Republic of Korea (ROK) Lee Myung Bak during their meeting in Seoul, ROK, April 6, 2009    Hu-Lee summit is the latest demonstration of high-level exchanges between China and ROK. The two countries, key economic partners to the other, also carry out cooperation in cultural, educational and scientific areas.     "We also strengthen communication and coordination on major global and regional issues, including China-Japan-ROK cooperation, climate change and international financial cooperation, thus ushering the China-ROK strategic and cooperative partnership in a new phase," Li said.     "The development of relations with ROK takes an important position in China's foreign policy for neighboring countries," he added.     To further develop such ties, Li suggested both nations maintain high-level exchanges for increasing mutual trust in political area. "Besides governmental contacts, the exchanges between parliaments and political parties should also be strengthened. And the exchanges among political parties should form a mechanism," he said.     Li also proposed to make joint efforts for combating the spreading financial crisis and strengthening mutually beneficial cooperation. "We should adopt effective measures to ensure the steady growth of economic cooperation, increase cooperation in such key areas as energy, telecommunication, finance, logistic and environmental protection, and initiated negotiations of free-trade agreement at an early date," he said.     He also pledged to expand people-to-people contacts, in particular the communication among young people, so as to lay a solid foundation for bilateral ties. "Exchanges of academic and media circles could also be enhanced," he said.     On multi-lateral cooperation, Li suggested both keep close communication and coordination in preventing trade protectionism, reforming international financial system and strengthening global and regional cooperation on financial affairs.     Li expressed appreciation for ROK's adherence to one-China policy. Li Changchun (L), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with Prime Minister of the Republic of Korea (ROK) Han Seung-soo in Seoul, ROK, April 6, 2009. Lee said he has visited China three times after he assumed the presidency. "The moves fully demonstrate my firm belief for developing ROK-China relations and the strong aspiration of the our people to develop China-ROK friendship for generations to come," he said.     He said that ROK considered China's development as its own opportunity and welcomed China's active and important role in regional and international affairs.     ROK supports China's measures to combat the financial crisis and is willing to earnestly implement the consensus reached by leaders of the two countries, Lee said.     ROK agreed to coordinate with China on macro-economic policy, he said.     Also on Monday, Li met with ROK Prime Minister Han Seung-soo, in which they exchanged views on enhancing economic cooperation. Both agreed to actively advance regional cooperation for rejuvenating Asia. The two sides reached consensus that the foundation of the bilateral friendship depends on the peoples of the two countries and the future on the young generation.     Currently, there are more than 1 million South Korean learning Chinese, he said.     "We are willing to work with China for pushing forward cooperation in East Asia," he added.     Earlier on Monday, Li visited the Ewha Womans University, the largest women university in the world.     Li spoke highly of the efforts made by the university to train a contingent of female talents, who play active part in political, economic and cultural fields in South Korea. He urged both sides to further boost cultural and educational exchanges.     Li attended the Chinese curricular of Ewha. He encouraged the young students to work hard as the envoys for boosting bilateral exchanges.     In the afternoon, Li visited the Seoul Chinese Cultural Center, the first government-sponsored Chinese cultural facility in Asia.     ROK is the last leg of Li's four-nation tour which has already taken him to Australia, Myanmar and Japan.

BEIJING, Feb. 9 (Xinhua) -- Chinese equities continued gains on Monday from last week's trading and advanced to a four-month high since late September as signs of an economic recovery, a raft of stimulus plans and a rally in the U.S. stock market boosted confidence, said analysts.     The government rolled out plans to revive the textile industry and machinery manufacturing industry last week after auto and steel stimulus packages. Measures to support the shipping industry, the non-ferrous metal industry and others are yet to come.     These efforts helped buoyed market confidence, said analysts. The country's economy was resilient and posted signs of recovery, partially because of the economic stimulus plans as the Purchasing Managers' Index (PMI) of the manufacturing sector released on Feb.4 rose to 45.3 in January from 41.2 in December.     The Shanghai A-share index rose 43.47 points, or 1.99 percent, to close at 2,224.71, and the Shenzhen Component Index posted a bigger rise of 4.06 percent, or 315.79 points, to 8,087.69.     Combined turnover climbed to a nearly nine-month high at 235.5 billion yuan (34.5 billion U.S. dollars), up from the 189.6 billion yuan from the previous trading day.     Gains outnumber losses by 841 to 29 in Shanghai and 713 to 34 in Shenzhen.     Non-ferrous metal rose across the board boosted by rising metal prices. Shanghai copper surged by its daily limit of 5 percent, or1,400 yuan per tonne to 29,510 yuan per tonne. Shanghai aluminum rose 3.56 percent to 12,225 yuan per tonne. Their gains also lifted other base metals.     Aluminum Corporation of China, the country's largest aluminum producer, advanced by the daily limit of 10 percent to end at 9.56yuan. Yunnan copper, China's third largest smelter of the metal, rose by the daily limit of 10 percent to 13.07 yuan. Liaoning-based Huludao Zinc Industry also gained by the daily limit of 10 percent to 4.16 yuan.     China Cosco Holdings Co. surged by the daily limit of 10 percent to 10.74 yuan after the Baltic Dry Index, a gauge of commodity shipping costs, posted a strong rise of 53 percent over last week. China Shipping Container Lines Company moved up 6.49 percent to 3.34 yuan.

来源：资阳报