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BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.
BEIJING, Jan. 4 (Xinhua) -- Remote villages across Yongning County of northwest China's Ningxia Hui Autonomous Region have been connected to a safe water supply thanks to a newly-completed water project.The project, launched in August 2010 and concluded on Nov. 27, has ensured that 100,000 people in 44 villages of Yongning will have access to safe water for drinking.People in the county had long suffered from a severe shortage of safe water because the area's surface water contained excessive amounts of fluorin and iron.The project was initiated after local authorities increased their efforts to provide safe drinking water after Chinese President Hu Jintao visited the region.During an inspection to a well-drilling site at Yuanlin Village of southern Yongning on March 23, 2010, President Hu stressed that efforts be made to ensure more people have access to safe water supplies.

BEIJING, Jan. 13 (Xinhua) -- The Chinese yuan strengthened to a record high against the U.S. dollar on Thursday to reach 6.5997 per dollar.The central parity rate of the Chinese currency, also known as the renminbi (RMB), was set 131 basis points lower than Wednesday's 6.6128, according to the China Foreign Exchange Trading System.China's central bank announced on June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market each business day.
BEIJING, Dec. 28 (Xinhua) -- Chinese Minister of National Defense said on Tuesday it had reduced the country's military reserves forces from 600,000 to 510,000 men and women over the past five years.China has also reduced the number of people in its militias from 10 million to eight million during the same period, said Gen. Liang Guanglie in an interview with Xinhua.It is the first time the Chinese government has given the exact number of people in the reserve forces and militias. In times of emergencies, the reserve forces and militias can be ordered to assist China's 2.3-million regular troops, the People's Liberation Army (PLA).Although China has experienced around 30 years of peace, Gen. Liang said the PLA has never relaxed its military preparations and vigilance especially at a time when "regional military conflicts can not be ruled out."In times of peace, the PLA's reserves conduct regular military training and participate in non-combat military operations, such as disaster relief work.The minister said the PLA had pushed forward military reforms in the past five years to build a more powerful military with upgraded weapon systems and high-quality personnel.Currently, 80 percent of the PLA's officers have four years of higher education compared with 25.8 percent in 1998, Gen. Liang said.To improve the quality of military personnel, the Chinese government has encouraged university graduates to join the armed forces since 2009. More than 100,000 college graduates gained their uniforms in 2010.In the past five years, China has dispatched more than 13,000 United Nations-commissioned peacekeepers to carry out 13 U.N. missions around the world, according to Liang.The PLA also sent professional units to Haiti, Pakistan and other countries and regions for disaster relief efforts and to give medical aids and other humanitarian relief, he said.
来源:资阳报