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BEIJING, Nov. 9 (Xinhua) -- China Merchants Securities, a leading domestic brokerage firm, announced Monday that it has set its A-share initial public offering (IPO) price range between 26 yuan (3.8 U.S. dollars) and 31 yuan. The Guangdong-based brokerage is scheduled to issue no more than 358.5 million shares, it said in a statement to the Shanghai Stock Exchange Monday. The IPO price translates into a price to earnings (P/E) ratio between 47.18 and 56.26 times. The subscription of the company starts on Tuesday, said the company.
SHIJIAZHUANG, Nov. 12 (Xinhua) -- Chinese Premier Wen Jiabao went to the snow-ravaged Shijiazhuang City, capital of north China's Hebei Province, by train on Thursday afternoon to oversee relief work. In a work conference held while on the train from Beijing to Shijiazhuang, the Premier urged authorities to put people's livelihood as top priority when dealing with the snow and blizzards. Chinese Premier Wen Jiabao (R) speaks during a meeting held on the train as he travels to Shijiazhuang, capital of north China's Hebei Province, Nov. 12, 2009. Chinese Premier Wen Jiabao went to snow-ravaged Shijiazhuang on Thursday afternoon to oversee relief work.Noting that China was in a critical phase to deal with the global financial crisis and the A/H1N1 influenza, Wen called for stepped-up efforts to mitigate negative impacts the blizzards imposed on people's lives. Authorities should ensure the supply of heating, gas, water, power and other necessities to the public, ease traffic jams in the cities, and strengthen monitoring and control over commodity prices in order to safeguard people's livelihood, he said. Chinese Premier Wen Jiabao (front) inspects the disaster situation at a border section between Hebei and Shanxi provinces on the Shijiazhuang-Taiyuan expressway, in north China's Hebei Province, Nov. 12, 2009They must also ensure supply of coal, power and fuel for production purposes, he said, adding that regions that had not been affected by the snow and blizzards so far should also make preparations for possible bad weather. Local government should perfect their emergency plans in accordance with the changing weather conditions, and ensure proper implementation of the plans at grassroot levels. He urged relevant authorities to cooperate with each other and do a better job when making weather forecasts. Chinese Premier Wen Jiabao (L, front) shakes hands with a worker during his inspection in Xijiao Heating Co. Ltd. in Shijiazhuang, capital of north China's Hebei Province, Nov. 12, 2009.Upon arrival in Shijiazhuang, Wen visited passengers in the waiting room of the city's railway station. He also went to a border section of the Shijiazhuang-Taiyuan expressway between Hebei and Shanxi provinces to visit stranded passengers on the Shijiazhuang-Taiyuan expressway and to inspect the disaster situation. The premier asked local authorities to provide food and water to the stranded passengers, and to make sure the expressway resume function as soon as possible. Chinese Premier Wen Jiabao gets on a stranded truck at a border section between Hebei and Shanxi provinces on the Shijiazhuang-Taiyuan expressway, in north China's Hebei Province, Nov. 12, 2009
BEIJING, Nov. 16 (Xinhua) -- Relevant departments should carefully study the country's economic survey data, and let it serve as a reference for the country's economic plan, Chinese Vice Premier Li Keqiang said Monday. A thorough study and better use of these data would help the country to cope with the world economic crisis, adjust economic structure, save energy, and promote a sound and relatively fast development, Li said. He pointed out that the survey has made clear the country's energy and water resources consumption, and find out the basic situation of country's second and service industries. Chinese Vice Premier Li Keqiang (C) speaks at the meeting of leading committee of China's second national economic census in Beijing, China, Nov. 16, 2009. China started its second national economic census in October last year He also asked relevant departments to ensure valid and reliable data. China started its second national economic census in October last year. The National Bureau of Statistics started economic census in 2004, and it is conducted every five years. The current census will help form the basis of the social and economic development blueprint for the 12th Five-Year Plan (2011-2015).
SINGAPORE, Oct. 23 (Xinhua) -- Chief of General Staff of China's People's Liberation Army (PLA) Chen Bingde called on Singapore Deputy Prime Minister and military officials on Friday. During his meeting with Singapore Deputy Prime Minister and Minister for Defense Teo Chee Hean, Chen said that China and Singapore share common strategic interests in economic development and regional security. In recent years, bilateral military relations have made great progress, he said, adding that the two sides have maintained frequent high level visits and improved the communication and cooperation mechanism. Cooperations on staff training, joint military exercises and ship visits have also been fruitful. Singaporean Deputy Prime Minister and Minister for Defense Teo Chee Hean (R) meets with visiting Chinese People's Liberation Army (PLA) Chief of General Staff Chen Bingde in Singapore Oct. 23, 2009Chen, who is also a member of the Central Military Commission of the People's Republic of China, called on the two sides to further increase communication and extend new cooperation areas to bring the bilateral military relations to a higher level. Teo Chee Hean said that Singapore cherishes the relationship with China and welcomes China to make positive contribution to regional and international development and security. He said that Singapore is willing to join hands with China to enhance the bilateral relationship and multilateral cooperation. Singaporean Chief of Defense Force Desmond Kuek (R) exchanges gifts with visiting Chinese People's Liberation Army (PLA) Chief of General Staff Chen Bingde during their meeting in Singapore Oct. 23, 2009Earlier Friday, Chen also met with Singapore Chief of Defense Force Lieutenant-General Desmond Kuek. Kuek said that Singapore is satisfied with the development of bilateral military relations. He said that the two sides should continue visit exchanges and strengthen the cooperation in non-traditional and multilateral security cooperation. Chen is here on an official visit at the invitation of Desmond Kuek from Oct. 22 to 24.
BEIJING, Nov. 21 (Xinhua) -- China's premium income hit 936.09 billion yuan (137.1 billion U.S. dollars) in the first 10 months, according to China Insurance Regulatory Commission. The figure represented an increase of 78 billon yuan, or 9.09 percent, over that in the first nine months. During January to October period, premium of property and casualty insurance was 243.18 billion yuan, and 692.9 billion yuan, respectively. Total asset of the country's insurance sector stood at 3.83 trillion yuan by the end of October.