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BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery. The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules." Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year. The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22. "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps." Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan. Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs. "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong. "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said. China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy. The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues. CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan. Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus. Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.
BEIJING, June 8 (Xinhua) -- Chinese Vice Premier Li Keqiang met with U.S. special envoy for climate change Todd Stern on Monday, calling for more dialogues and substantial cooperation with the United States on climate change. "China has noticed the change of the U.S. government on climate change as well as the positive measures it has taken," Li told Stern during their meeting in the Great Hall of the People. To strengthen dialogue and cooperation between the two countries helps the growth of China-U.S. ties and benefits the international cooperation to fight against climate change, the vice premier said. Chinese Vice Premier Li Keqiang (1st R) meets with Todd Stern, U.S. special envoy for climate change, at the Great Hall of the People in Beijing, capital of China, on June 8, 2009. Stern said his country is ready to enhance dialogue and cooperation in energy, environment and climate change areas and work closely for the success of the Copenhagen Conference at the end of this year. A new protocol was expected to be born in Copenhagen by the end of this year to replace the Kyoto Protocol to prevent global warming and climate change. Li said China approves the fulfillment of the Bali Roadmap as the key mission of the Copenhagen Conference, and also approves promoting the implementation of the UN Framework Convention on Climate Change and the Kyoto Protocol in a comprehensive, efficient and consistent way. China would like to maintain the principle of "common but differentiated responsibilities" among developed and developing countries, actively participate in negotiations and play a constructive role to promote positive results from the conference, Li added. Stern expressed appreciation for China's achievements in recent years in fighting climate change. Li told the guest the Chinese government promotes sustainable development amidst efforts to address climate change, with conserving energy and protecting the environment as its national strategy.

HELSINKI, June 26 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang on Friday outlined guidelines for boosting Sino-Finnish relations in political, economic and social fields. Politically, top leaders and senior officials of China and Finland should continue to frequently visit each other to improve the mechanism for bilateral cooperation, said Li while meeting with Finnish President Tarja Halonen. Economically, the two countries should make good use of their respective competitive advantages which compliment each other to deepen their pragmatic cooperation in business, environment, energy and other fields, he said. Socially, China and Finland should promote exchanges in culture, education, health, tourism and other fields to build a stronger social base for their bilateral relations, he added. Finnish President Tarja Halonen (R Front) meets with Chinese Vice Premier Li Keqiang (L Front) in Helsinki, June 25, 2009 Li also called for enhanced communications and consultations between the two countries in international affairs. On China-EU relations, Li said that China has always been committed to developing a comprehensive strategic partnership with EU and Sino-EU relationship was of strategic importance in China's foreign policy. Both China and EU should cherish the hard-earned good relationship between the two sides, make dialogue and cooperation as its cornerstone, base it on mutual respect and equality, and maintain the principle of seeking common ground while reserving differences. Li said China appreciates the efforts Finland has made to promote the healthy development in China-EU relations and hopes Finland will continue to play a constructive role in enhancing the political mutual trust between China and EU and pushing for closer China-EU cooperation. For her part, Halonen said that both Finland and China value their relationship, adding that communication and cooperation in political, economic, cultural, educational and social fields have been going on smoothly, which has a positive impact on bilateral relations. Finland has attached great importance to its relations with China and is willing to be a positive force in shaping EU-China relationship, she told Li. She also said that the Finnish government and companies would actively participate in the 2010 World Expo to be held in Shanghai, China. The Finnish president extended an invitation through Li to her Chinese counterpart Hu Jintao for visiting Finland when the Chinese top leader feels convenient. Li arrived in Helsinki on Thursday for a three-day official visit to the northern European nation.
BEIJING, April 30 (Xinhua) -- China hopes to increase cooperation with Vietnam to push forward comprehensive strategic cooperative partnership, said top Chinese political advisor Jia Qinglin on Thursday. "Stronger Sino-Vietnamese cooperation is significant when facing with international financial crisis," Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, told Vietnamese Deputy Prime Minister Nguyen Thien Nhan in Beijing. China and Vietnam would hold a friendship year in 2010. "We should grasp the opportunity to promote our friendship," Jia said. Jia Qinglin (front R), chairman of the National Committee of the Chinese People's Political Consultative Conference meets with Vietnamese Deputy Prime Minister Nguyen Thien Nhan (front L), who is also Vietnam's Minister of Education and Training, in Beijing, China, April 30, 2009 The establishment of comprehensive strategic cooperative partnership last year lifted bilateral ties into a new height, said Jia. Frequent high level contacts, economic cooperation and increasing exchanges brought concrete benefits for the two peoples, he said. Nhan is also Vietnam's Minister of Education and Training. Jia hoped the two nations would further expand cooperation in education. Nhan said Vietnam was ready to work with China to promote cooperation in education, culture, science and technology,. Chinese State Councilor Liu Yandong also met with Nhan later Thursday.
来源:资阳报