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BEIJING, Dec. 27 (Xinhua) -- Chinese stocks weakened Monday after the nation's central bank hiked rates on Saturday and amid speculation further monetary policy tightening to combat inflation is in the offing.The benchmark Shanghai Composite Index fell 1.9 percent, or 53.76 points, to finish at 2,781.4, following the central bank's decision to raise the benchmark one-year lending and deposit interests rate by 0.25 percentage points, its second rate hike in just over two months.The Shenzhen Component Index fell 2.02 percent, or 253.66 points, to end at 12,303.19 points.Combined turnover increased to 224.44 billion yuan (33.85 billion U.S. dollars) from 185.28 billion yuan the previous trading day.An investor watches a screen at a stock trading hall in Shanghai, Dec. 27, 2010. China's stock market dropped Monday. The benchmark Shanghai Composite Index lost 1.90 percent, closed at 2,781.40. The Shenzhen Component Index dropped 2.02 percent, closed at 12,303.19.Losers outnumbered gainers 834 to 76 in Shanghai and 1,125 to 89 in Shenzhen.China's consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent year on year in November.Besides hiking rates, China's central bank has increased banks' reserve requirement ratio six times this year, taking it to 19 percent for some banks.Shares of property developers dropped. China Vanke, the nation's largest real estate developer, lost 2.89 percent to 8.75 yuan. China Everbright Bank fell 3.7 percent to 3.91 yuan. PetroChina, China's biggest oil producer, declined 2.28 percent to 11.16 yuan.Coal producer shares gained 1.74 percent amid gains in international crude oil prices.China Shenhua Energy Co., China's biggest coal producer, climbed 0.02 percent to 25.05 yuan.
RIYADH, Dec. 26 (Xinhua) -- A Chinese culture show was put up in the Saudi capital Riyadh as both countries mark the 20th anniversary of diplomatic ties.The three-day event, sponsored by the kingdom's Culture and Information Ministry in tandem with the Chinese Culture Ministry, is being organized at Riyadh's huge King Fahd Culture Center.Saudi Culture Minister Abdulaziz Khouja said the show reflected friendly relationship between the two counties, hailing deeply- rooted ties binding his country and China.A 30-strong Chinese delegation, which included artists and musicians, has arrived in Riyadh to take part in the event.Chinese Commerce Minister Chen Deming paid a landmark visit to Saudi Arabia in early 2010, during which he said both countries are going to boost the two-way trade volume to 60 billion U.S. dollars by 2015.

BEIJING, Nov. 8 (Xinhua) -- China and Britain Monday vowed to boost their economic and trade ties on the eve of British Prime Minister David Cameron's two-day trip to Beijing.The pledge was made at talks between Chinese Vice Premier Li Keqiang and UK Chancellor of the Exchequer George Osborne, who will attend the third China-UK Economic and Financial Dialogue in Beijing on Tuesday.China and Britain share common or similar ground on issues like trade and investment liberalization and reform of the global economic governance system, Li said, expressing hope the two countries will deepen their cooperation.Chinese Vice Premier Li Keqiang (R) meets with British Chancellor of the Exchequer George Osborne who will attend the third China-UK Economic and Financial Dialogue, in Beijing, capital of China, Nov. 8, 2010.China hopes to work with Britain to oppose protectionism and advance the reform of the global financial regime, in a bid to facilitate the global economic recovery, Li added.Li said bilateral ties since the new British government, a Conservative-Liberal Democrat coalition, came to power have been good.He called for increasing political trust and deepening cooperation and coordination on international and regional issues.Osborne said the new British government attaches great importance to relations with China and added that Britain hopes to boost bilateral cooperation.Osborne will co-chair the annual China-UK Economic and Financial Dialogue with Chinese Vice Premier Wang Qishan on the day Cameron kicks off his first tour of China as British prime minister.Cameron, accompanied by the largest-ever delegation to China with four cabinet ministers and 50 top business leaders, is scheduled to meet with Chinese President Hu Jintao and Premier Wen Jiabao.With trade and the economy at the top his agenda during his China visit, Cameron will attend a China-Britain commercial summit in Beijing before heading to Seoul for the G20 Summit on November 11 and 12.Chinese Ambassador Liu Xiaoming earlier said Cameron's visit will further enhance Britain-China political trust and promote bilateral cooperation in various fields and "is of great importance to the long-term development of the bilateral relationship."
BEIJING, Dec. 30 (Xinhua) -- Top Chinese leaders including President Hu Jintao on Thursday watched Peking Opera at the National Center for the Performing Arts in a gala to celebrate the New Year.Top legislator Wu Bangguo, top political advisor Jia Qinglin, and other senior leaders including Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also watched the performance together with nearly 1,000audience.The programs include excerpts from modern Peking Opera "The Red Detachment of Women" and a series of traditional works.Chinese top leaders Hu Jintao, Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang pose for a group photo with performers after watching Peking Opera in a gala to celebrate the New Year at the National Center for the Performing Arts in Beijing, capital of China, Dec. 30, 2010.The over 200-year-old Peking Opera, which combines instrumental music, vocal performances, mime, dance and acrobatics, was regarded as a cultural treasure of China. It was recognized as an intangible cultural heritage last month by the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
UNITED NATIONS, Dec. 16 (Xinhua) -- China on Thursday voiced its hope that parties in the north and south Sudan will make continuous efforts for a peaceful, free, transparent and just referenda in Sudan in accordance with the 2005 Comprehensive Peace Agreement (CPA), and called for international efforts to create favorable conditions for the January referenda.The statement came as Yang Tao, the counsellor of the Chinese Permanent Mission to the United Nations, was addressing an open Security Council meeting on Sudan."We hope the north and south Sudan will keep up the momentum, speed up the preparation for the referenda and ensure that the referenda are conducted in a peaceful, free, transparent and just manner in accordance with the CPA," Yang said.A referendum on self-determination for southern Sudan is scheduled to be conducted on Jan. 9, 2011, as it was stipulated in the CPA inked between north and south Sudan in 2005, which ended a two-decade civil war between the two sides."We call on the international community to create a favorable condition for the referenda and refrain from prejudging the outcome," he said. "No party should take unilateral action. No matter what outcome of the referenda might be, peace and stability in Sudan and the region must be ensured."Inhabitants of the south will vote on Jan. 9, 2011 on whether to secede from Sudan or remain united with the rest of the country. On the same day, residents of Abyei, located in the center of the country, will vote separately on whether to retain Abyei's special administrative status in the north or become part of Bahr el- Ghazal state in the south.Since the Security Council held the high-level open meeting on Sudan last month, the peace process in Sudan continues to register positive progress, Yang noted."Voter registration for the referenda for southern Sudan has been concluded smoothly, we commend the north and south Sudan, the African Union and the UN Secretariat for the efforts to this end," he said."Maintaining the peace, stability and development in Sudan is in the interest of the Sudanese people, and it is also conducive to the peace and development in the region and in the African continent," Yang said."China hopes that the north and south will cherish the peace that was hard to come by, and continue their equal dialogue and consultation in order to reach an early agreement on the border demarcation, Abyei and wealth sharing and other outstanding issues, " he said. "This is of great significance to the maintenance of the long-term peace and stability in Sudan and the region."
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