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BEIJING, June 22 (Xinhua) -- Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC), on Sunday vowed to deepen reform and boost regulation to promote a stable and healthy development of the capital market. The CSRC would rationally balance the market supply and demand, and regulate the pace of fund-raising, Shang told an interior meeting in Beijing. The stock regulator would encourage and steer funds into the market for long-term investment and gradually improve the inner market stabilizing mechanism. China's benchmark Shanghai Composite Index have fallen 54 percent from its all time high in mid October 2007. The steep decline came amid fears that the tightening measures would erode corporate profits and the equities supply would overwhelm demand. Analysts said the regulator has been delaying approvals of initial public offerings over the past couple of months to stabilize market that was hard-hit by weak investor sentiment. Shang noted the CSRC would boost cooperation with the prosecutors on crackdown on market manipulation, irregular information disclosure, and false information and rumors distributed to manipulate stock prices. Shang Fulin, chairman of the China Securities Regulatory Commission (CSRC)( It would also cooperate with other financial regulators to closely watch the impacts of the domestic and overseas economic operation and the global financial market on the domestic capital market. Shang said that during the process of market correction, some people deliberately spread rumors that disrupted market orders and increased volatility.
BEIJING, June 19 (Xinhua) -- China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices. Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S. dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne. The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC). The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per tonne, up more than 16 percent and 18 percent respectively. The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively. The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices. Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year. An employee changes the cards showing the prices of refined oil at a gas station in Beijing on the early morning of June 20, 2008The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official. The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises. For instance, farmers would get five yuan per mu (1/15 hectare)of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families. The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise. The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February. The commission also said the average electricity tariff will be raised by 2.5 cents per kwh starting from July 1, up 4.7 percent on average. It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading. More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises. Official statistics showed that power coal prices went up by more than 80 yuan per tonne in the past two years. The prices had gone up by 60 yuan since the beginning of the year. The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19. The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies. The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise. Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said. "The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.

NANNING, Aug. 23 (Xinhua) -- Downpours brought by Typhoon Nuri swept south China's Guangdong and Guangxi from Friday to Saturday, but no casualties have been reported. From 8 a.m. Friday to 2 p.m. Saturday, rainstorms accompanied by winds of up to 68 km per hour, hit the southeastern areas of Guangxi Zhuang Autonomous Region, with the biggest precipitation of 350 mm in Beiliu County, according to the regional meteorological station. A float bridge is damaged by the gale at Dayawan sea area in Shenzhen, south China's Guangdong Province, Aug. 22, 2008 Heavy rain was forecast to continue in the region on Sunday and Monday. Typhoon Nuri was downgraded to a strong tropical storm on Friday afternoon after it landed in the coastal areas along Sai Kung of Hong Kong. The storm made another landfall in southern Guangdong late on Friday, packing winds of up to 90 km per hour. Heavy clouds are seen over the skyline in Zhuhai, south China's Guangdong Province, Aug. 22, 2008.In a farming yard in Guangzhou, Guangdong's capital, 186 tourists, including 55 foreigners, were evacuated to safe areas by police after the wooden house where they stayed were damaged by strong winds with power cut off.
BUDAPEST, May 8 (Xinhua) -- Jia Qinglin, head of China's top political advisory body, on Thursday met with Hungary's parliament speaker and put forward a package of proposals for further expanding friendship and cooperation between China and Hungary. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), held talks with Szili Katalin, speaker of the Hungarian National Assembly in Budapest Thursday morning. During the meeting, Jia suggested that the two countries should maintain high-level contact so as to deepen political trust. The two countries should also expand trade and economic cooperation in a bid to promote common development. China will continue to encourage well-established companies to invest in Hungary. It will also adopt effective measures to increase imports from Hungary and encourage enterprises from both countries to carry out active and concrete cooperation, Jia said. Jia Qinglin (2nd R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with Speaker of Hungarian National Assembly Szili Katalin (2nd L) in Budapest, capital of Hungary, on May 8, 2008.The two countries should also promote human and cultural exchanges so as to improve mutual understanding, he said. China will continue to support the development of Hungarian-Chinese bilingual schools and the Confucius School in Hungary. To mark the60th anniversary of the establishment of diplomatic ties between China and Hungary, China will hold a "China Culture Festival" in Hungary next year, said the Chinese leader. Jia said the CPPCC is ready to strengthen contact and exchanges with the National Assembly of Hungary by carrying out cooperation in all forms and at all levels. Szili agreed with Jia's views on developing bilateral links. She expressed the wish that the two countries should continue to maintain exchange of visits by high-level officials, explore the potential and new areas of economic cooperation, expand cooperation in such fields as culture, education and tourism. She said the two countries should seize the opportunity of the 60th anniversary of diplomatic ties to push the development of bilateral relations. Hungary attaches great importance to the 2008 Beijing Olympic Games and the Shanghai World Exposition and will actively participate in the two great events, Szili said. She said Hungary gives priority to its relations with China in its overall foreign policy. As a member of the European Union, Hungary is ready to make active contributions to the development of EU-China relations.
MIANYANG, Sichuan, May 22 (Xinhua) -- Ten days after the devastating earthquake in southwest China, six days after he returned to Beijing, Premier Wen Jiabao was back on the front lines of quake relief. He flew to Mianyang in Sichuan Province, one of the worst hit cities, on Thursday afternoon. Upon arrival, he conducted a fly-over inspection by helicopter of a "quake lake," which is formed by landslides that block rivers. People would have found him on the same tight schedule early this year as Wen visited the regions hit by the worst winter weather in 50 years four times in nine days. The Hong Kong-based daily Ta Kung Pao said in a commentary: "Chinese premiers have developed an image of being caring and conscientious since late Zhou Enlai, the first premier of the People's Republic of China." When a 6.8-magnitude earthquake rocked Xingtai, in the northern Hebei Province in 1966, Zhou rushed to the region and oversaw relief work, risking aftershocks, Du Xiuxian, a photographer of Zhou's era, recalled in his published photographic memoir "The Last Legends." Wen has inherited that tradition of Chinese premiership. Chinese Premier Wen Jiabao (C) talks to local officials in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work. Two hours after the quake rocked Wenchuan County in the northwestern mountainous region of Sichuan Province, he was in theair. As a large part of the country felt the tremors and experienced great shock, Wen promised the country in front of China Central Television (CCTV) camera that the government would lead the people to win the battle against the earthquake. "Confronted with the disaster, we need composure, confidence, courage and an effective command," he said with a sober and steadfast attitude. During the next four days, Wen set foot in almost all of the worst-hit counties, walking over rocks and tiles, comforting weeping children and encouraging rescuers. He made it very clear that the top task at the initial stage was to save lives, and he pressed officials and troops very hard to implement rescue work. Back in Beijing on May 16, Wen did not relax but hosted several key meetings on rescue and relief work. Observers found that he has presided over at least 13 high-level meetings since the quake. At these meetings, the topics under discussion ranged from big issues such as the top priorities of the relief task force to tiny details like milk powder for infants. He stressed prevention of epidemics and handling of victims' corpses, told an expert team to give scientific and technical support to rescue and relief work, and worked out solutions to homeless survivors' problems. While guidelines were set for relief work, detailed orders were made as well, such as to send 6,000 temporary houses within two days and order rescue teams to reach all remote quake-hit villages within 24 hours. Chinese Premier Wen Jiabao (R) shakes hands with a soldier in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work.Rehabilitation was also discussed and a directive was issued to fully consider the geological conditions and bearing capability of the local environment so as to balance cities and rural areas, industry and agriculture. The focus has shifted from rescue to rehabilitation of quake survivors and their communities, he said Thursday while en route to Sichuan. The latter "will be a harder and long-term task," he said. Chinese are captivated by what the premier has done. Chen Hui, a middle-aged mother in Chongqing Municipality near Sichuan that was also affected by the quake, participated in a text message prayer campaign for Wen. She sent a text message to her son in Beijing, saying: "The 66-year-old Premier Wen has worked really hard for quake relief. He has comforted and moved us. Pass this on your friends, pray for him." Chen received the message from a friend. The campaign, whose organizer is unknown, aims to collect 1 million prayer text messages. A compilation of scenes of Wen's visit to Sichuan is popular on-line and Netizens have created a forum called "Premier Wen, we love you." "As one of China's senior leaders, the premier not only manages the government's daily work but also displays the ruling party's ideals and principles personally," Ta Kung Pao said. "A premier of China can not be copied elsewhere."
来源:资阳报