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BEIJING, Dec. 11 (Xinhua) -- Chinese Premier Wen Jiabao on Friday urged fast and sound development of meteorological work, stressing its important role in tackling global climate change, disaster prevention and sustainable socio-economic growth. Wen made the remarks when visiting the China Meteorological Administration (CMA), which celebrated its 60 founding anniversary on Dec. 8. Chinese Premier Wen Jiabao (C) looks through a microscope, at the laboratory of the National Climate Center while visiting China Meteorological Administration in Beijing, capital of China, Dec. 11, 2009.Wen urged the meteorologists to improve accuracy and timeliness of the forecasts of major meteorological disasters, and asked them to strengthen their capabilities in dealing with such incidents and improve contingency plans to cope with disasters. Quality meteorological services should also be provided to all sectors of society, he said. Chinese Premier Wen Jiabao (2nd L) meets with climate experts and workers at the National Climate Center while visiting China Meteorological Administration in Beijing, capital of China, Dec. 11, 2009.Wen told the meteorological authority to beef up research on the impact of climate change on grain, economy, energy, and ecological environment, and work out better response to help the nation meet the emission cut target. The premier also visited the national satellite meteorological center, a subsidiary of CMA and read the real time meteorological information sent by the satellite. He also observed the meteorological conditions in the quake-hit Sichuan province through video. Chinese Premier Wen Jiabao (2nd R) looks at a meteorological satellite model of FY-series at the National Satellite Meteorological Center while visiting China Meteorological Administration in Beijing, capital of China, Dec. 11, 2009
BEIJING, Nov. 16 (Xinhua) -- U.S. Secretary of Commerce Gary Locke said here Monday clean energy technology is one of the most beneficial areas for U.S.-China cooperation and also the only way for the two countries to keep sustained economic growth and combat global climate change. Locke, who accompanied U.S. President Barack Obama's visit to China, made the remarks at the Sino-U.S. clean energy round table conference held here Monday. It has been Locke's third trip to China since becoming Commerce Secretary in March. "The United States and China have the power and indeed an obligation to alter history for the benefit of all people on the planet," he said. As the world's most productive and innovative economies, the U.S. and China are uniquely positioned to create the solar, wind, biofuel and renewable technologies that the world wants and needs, Locke said. "We can do it by making clean energy the prime engine of the economic growth in the 21st century," he said. Locke said he plans to lead an energy and trade mission to China next March, which would include U.S. firms from new energy technology sectors and make stops in Beijing, Shanghai and other cities. U.S. Secretary of Energy Steven Chu also attended the conference, who expressed optimism about U.S.-China cooperation in the deployment and development of clean energy technology. The conference was co-hosted by China's State Energy Bureau, U.S. Department of Commerce and Department of Energy, in a bid to advance mutual pragmatic cooperation in clean energy and promote the development of clean energy technology and industry.

SHARM EL-SHEIKH, Egypt, Nov. 8 (Xinhua) -- The Fourth Ministerial Conference of the China-Africa Cooperation Forum (FOCAC) opened in the Egyptian Red Sea resort of Sharm el-Sheikh on Sunday. Chinese Premier Wen Jiabao, Egyptian President Hosni Mubarak and African heads of state or government attended the opening ceremony of the two-day conference, with the theme of "deepening the new type of China-Africa strategic partnership for sustainable development." The fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) opens in the Egyptian resort of Sharm el-Sheikh on Nov. 8, 2009Mubarak, who chaired the opening ceremony, said in a speech that FOCAC is to establish a new stage of relations between China and Africa and a partnership that Africa and China are looking forward to for peace, security and development. Egypt, which was the first African country to recognize the People's Republic of China more than half a century ago, supports the one-China policy and also supports FOCAC from the first day of its establishment, said Mubarak. This reflects the solid relations between the peoples of Africa and China throughout the history and is an effective model of fruitful South-South cooperation, he added. Chinese Premier Wen Jiabao attends the opening ceremony of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009Mubarak urged efforts to deepen cooperation and sustainable development through FOCAC, calling for promoting cooperation between China and Africa on the bilateral and continental levels to support the African efforts to achieve peace and security as the main pillars of comprehensive development. The Chinese premier announced eight new measures the Chinese government will take to strengthen China-Africa cooperation in the next three years in his speech. Egyptian President Hosni Mubarak attends the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009. The meeting kicked off here Sunday morning"Chinese people cherish the sincere friendship towards the African people, and China's support for Africa's development is concrete and real," said the premier. "Whatever change may take place in the world, our policy of supporting Africa's economic and social development will not change," Wen said. According to the eight new measures, China will help Africa build up financing capacity, and will provide 10 billion U.S. dollars in concessional loans to African countries and support Chinese financial institutions in setting up a special loan of 1 billion dollars for small- and medium-sized African businesses. For the heavily indebted countries and least developed countries in Africa having diplomatic relations with China, China would cancel their debts associated with interest-free government loans due to mature by the end of 2009, said Wen. The measures are also committed to building clean energy projects in Africa, carrying out joint scientific and technological demonstration projects with Africa, training agricultural technology personnel for Africa and offering assistance on medical care, health, human resources development and education. The eight new measures, which succeeded eight measures put forward by Chinese President Hu Jintao at the landmark Beijing Summit of FOCAC in 2006, stressed more on improving the African people's living standard, Wen said at a press conference after the opening ceremony. Sudanese President Omar al-Bashir expressed his gratitude towards the Chinese government for its sincere efforts to develop its relations with African countries over the past years and to boost development in Africa. He said China has fulfilled its commitments made at the 2006 Beijing Summit to assist Africa in the fields of energy, roads and infrastructure, as well as in the critical area of fighting against serious diseases. Al-Bashir said great achievements have been accomplished by China and Africa under a strategic partnership within the framework of FOCAC, adding that more hard work and commitments are required to carry out the strategic plans, especially in the areas of agriculture, food security and infrastructure. Zimbabwean President Robert Mugabe praised the "strategic cooperation" between China and Africa, saying it represented the culmination of the friendship between the two sides. According to Mugabe, a number of countries in the Common Market for Eastern and Southern Africa region have achieved significant progress in their trade exchanges with China, mainly due to the Chinese measures to increase the number of exported items receiving duty-free entry into their markets. Central African Republic President Francois Bozize said both China and Africa faced great challenges, including natural disasters and climate changes, so both sides should continue working together to deepen their friendship in all fields. Chinese Foreign Minister Yang Jiechi presented to the conference a report on the implementation of the outcomes of the Beijing Summit. The main agenda of the conference is to review the implementation of the follow-up activities of the FOCAC Beijing Summit and the third ministerial conference and explore new initiatives and measures on Sino-African cooperation in priority areas such as human resources development, agriculture, infrastructure development, investment and trade. The FOCAC, a collective consultation and dialogue mechanism between China and African countries launched in 2000, is the first of its kind in the history of Sino-African relationship. It is a major and future-oriented move taken by both sides in the context of South-South cooperation to seek common development in the new situation. The previous three ministerial conferences were held in Beijing, Addis Ababa and Beijing respectively.
BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here Tuesday he and visiting U.S. President Barack Obama agreed during their talks to resolve the nuclear issues of the Korean Peninsula and Iran through dialogue. "Both of us remain committed to resolving the nuclear issue on the Korean Peninsula through dialogue and consultation," Hu said when meeting the press with Obama after their bilateral talks. "Such a commitment serves the common interests of China and the United States and all other parties concerned." Hu said China and the United States will work with other parties concerned to stick to the denuclearization of the Korean Peninsula and the six-party talks process to safeguard the peace and stability of northeast Asia. The two presidents stressed that it is very important for the stability in the Middle East and the Gulf Region to uphold the international nuclear non-proliferation regime and properly resolve the Iran nuclear issue through dialogue and negotiation, Hu said.
BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed. The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively. CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan. IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch. Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007. Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values. Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus. Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010. Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling. "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model." It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan. The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities. Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed. Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data. The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.
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