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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.
PATTAYA, Thailand, April 11 (Xinhua) -- China, Japan and South Korea agreed here Saturday to continue pushing forward the Six-Party talks aimed at realizing denuclearization of the Korean Peninsula. The consensus was reached when Chinese Premier Wen Jiabao, Japanese Prime Minister Taro Aso and South Korean President Lee Myung-bak met here to discuss the recent rocket launch by the Democratic People's Republic of Korea. Discussions about related issues should be conducive to maintaining the progress of the Six-Party talks, peace and stability on the Korean Peninsula and in Northeast Asia, Wen said. Chinese Premier Wen Jiabao meets with Japanese Prime Minister Taro Aso(r) and President of the Republic of Korea (ROK) Lee Myung Bak(l) in Pattaya, Thailand, on April 11, 2009 Any action that may further complicate the situation should be avoided, he emphasized. The three leaders also agreed to strengthen cooperation between China, Japan and South Korea and push forward their cooperation with the Association of Southeast Asian Nations. The three leaders expected to meet in China later this year for the second summit of Chinese, Japanese and South Korean leaders.
BEIJING, Feb. 26 (Xinhua) -- China on Thursday hit back at a United States report on its human rights with its own report on the U.S. human rights record. "The U.S. practice of throwing stones at others while living in a glass house is a testimony to the double standards and hypocrisy of the United States in dealing with human rights issues and has undermined its international image," the Information Office of the State Council said in its report on the U.S. human rights record. The Human Rights Record of the United States in 2008 was in retaliation to the Country Reports on Human Rights Practices for 2008 issued by the U.S. Department of State on Feb. 25. For years, the United States had positioned itself over other countries and released the Country Reports on Human Rights Practices annually to criticize human rights conditions in other countries, using it as a tool to interfere with and demonize other nations, the report said. The U.S. has turned a blind eye to its own violations of human rights. "As in previous years, the reports are full of accusations of the human rights situation in more than 190 countries and regions, including China, but mention nothing of the widespread human rights abuses on its own territory," China said in its report. "The Human Rights Record of the United States in 2008 is prepared to help people around the world understand the real situation of human rights in the United States, and as a reminder for the United States to reflect upon its own issues," China said. The report reviewed the U.S. human rights record from six perspectives: life and personal security; civil and political rights; economic, social and cultural rights; racial discrimination; rights of women and children; and the United States' violation of human rights in other countries. The report warned the United States that widespread violent crime posed serious threats to its people's lives and security. According to a report published in September 2008 by the Federal Bureau of Investigation (FBI), the country reported 1.4 million violent crimes, including 17,000 murders and 9.8 million property crimes in 2007. More frequent gun killings were a serious threat to the lives of U.S. citizens, the report said. It quoted the U.S. Center for Disease Control and Prevention assaying that 1.35 million high school students in 2007 were either threatened or injured with a weapon at least once on school property. The report said an increasing number of restrictions had been imposed on civil rights in the United States. It cited government surveillance of online activities, new legislation on government wiretapping last July, more cases of police abuse of force and neglect of basic rights of 2.3 million prisoners in the United States. The United States was facing a number of social problems, including a wide wealth gap, increasing number of homeless, needy people and those suffering hunger, the report said. It quoted the U.S. Census Bureau as saying in August 2008 that 12.5 percent of Americans, or 37.3 million people, were living in poverty in 2007, up from 36.5 million in 2006. The unemployment rate increased from 4.6 percent in 2007 to 5.8percent in 2008, the report said. People in the United States saw their pension plans shrink, health insurance cut and school tuition increase, while drugs, suicide and other social problems prevailed, according to the report. The report said racial discrimination prevails in "every aspect of social life" in the United States, ranging from income, employment, education, to judicial system, often with African Americans as major victims. "Nearly one quarter of black American households live below the poverty line, three times that of white households," it said, citing The State of Black America, issued by the National Urban League in March 2008. The jobless rate for blacks was 10.6 percent in the third quarter of 2008, twice that of the whites, according to the U.S. Department of Labor. The report said the African American high school graduation and college entry rates still lingered at the level of whites "two or three decades ago", and African American students in public schools were "more likely to get physical punishment than White children." "African American youths arrested for murder are at least three times more likely than their white peers to receive life imprisonment without the possibility of parole," the report said, quoting a 2008 report of the New York-based Human Rights Watch. It also mentioned the infringement of basic rights of indigenous Americans, inhumane treatment received by immigrants, and serious racial hostility and rising hate crime in the United States. On "worrisome" conditions of women and children, the report said gender-based discrimination in employment, and domestic violence and sexual violence toward women were quite serious. Also, an increasing number of children were living in poverty and danger of being physically or mentally harmed due to abuse and violence. "The United States is one of the few countries in the world where minors receive the same criminal punishments as adults," the report said. "It is the only country in the world that sentences children to life in prison without possibility of parole or release." "The United States has a string of records of trampling on the sovereignty of and violating human rights in other countries," the report said. It listed the Iraq war, prisoner abuse at Guantanamo, the five-decade embargo against Cuba and arm sales. The war in Iraq had claimed more than 1 million civilian lives and caused the same number of homeless people, it said. The United States maintained the embargo against Cuba, though the United Nations General Assembly adopted a resolution urging itto end the embargo in last October. U.S. arm sales reached 32 billion U.S. dollars in 2007 and weapons were sold to more than 174 nations and regions. The United States was inactive on its international human rights obligations and offered outbound humanitarian aid that was dwarfed by its status as the richest country in the world, the report said. China in the report advised the U.S. government to "face its own human rights problems with courage, and to stop applying double standards to human rights issues". This is the 10th consecutive year that the Information Office of China's State Council has issued a report on the human rights record of the United States to answer the U.S. State Department's annual report. "Respect for and protection of human rights is an important indication of civilization and progress of human society," the report said. "Every government shoulders a common responsibility in committing itself to the improvement of human rights conditions.
TAIPEI, March 14 (Xinhua) -- Premier Wen Jiabao's press conference on Friday has drawn positive comments in Taiwan, making the headlines in Saturday's local newspapers and leading to a rise in the stock market. Mainstream newspapers on the island hailed Wen's remarks of "Even if I can no longer walk, I will crawl to Taiwan" as a big goodwill sign from the mainland toward improving cross-straits relations. The China Times, besides devoting its front page to the press conference, ran an op-ed piece saying that the premier gave an amazing answer to the Taiwan-related question. The article said Wen used ordinary language in his speech to stay close to ordinary Chinese people, which sounded sincere and showed greater confidence from the leader. The United Daily News also widely covered the press conference, saying that Wen's remark that "We can launch new economic stimulus policies at any time" demonstrates confidence and hope. Zhang Wuyue, director of the institute of mainland studies in Taiwan's Tamkang University, told Xinhua that the premier's words would have positive influences on cross-straits relations and help them toward peaceful development. A senior staffer at a Taiwan investment company said that the premier's warm remarks have prompted the surge of stocks that were originally facing pressure to fall. Taiwan's benchmark weighted index rose by 142.74 points, or 3 percent, to close at 4, 897.39 on Friday, the highest since November. Tourism shares surged by an overall 6.3 percent.
BEIJING, March 20 (Xinhua) -- Chinese President Hu Jintao on Friday called for the country's law-enforcement personnel to learn the selfless dedication to the people from Tan Dong, a policeman in Sichuan Province. Tan, 45, was a traffic policeman in Dayi County of Chengdu, capital city of Sichuan. He died of myocarditis on Jan. 5 because of long-time hard work at his position. On Dec. 29 last year, in order to save a person having fallen into a trench in a car accident, Tan jumped into the cold water and got a serious cold. Being seriously sick afterwards, Tan insisted on working, until the last minute of his life. After his death, Tan was honored as a first-class model by the Ministry of Public Security and Ministry of Human Resources and Social Security. On Friday, some of Tan's relatives and colleagues were invited to give a report on his heroic deeds in the Great Hall of the People in Beijing. The audience were deeply moved by the report and gave applauses to show their respect for the hero. More than 800 police and citizen representatives listened to the report. Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with Tan's families and colleagues before the report. "He is an ordinary, but great person. He is the model for the police, and also a good example for China's grassroots officials," Zhou said. In Tan Dong's diary, he wrote: one cannot be a public servant if he has no intention of dedication. "He did what he said," Zhou said.