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BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty.     The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months.     It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001    The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03.     In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion).     Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year.     Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see.     "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China.     "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added.     Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year.     In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd.     Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said.     Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent.     However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long.     "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China.     "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.

KIEV, Sept 19 (Xinhua) -- The Seventh Euro-China Forum ended Friday in Kiev, the capital of Ukraine, as participants called for further dialogue and cooperation between China and Europe.     In the three-day forum entitled "Silk Road of the 21st century," nearly 200 politicians, academicians, economists from Europe and Asia discussed Sino-Europe relations and economic cooperation.     Ukrainian President Viktor Yushchenko said China has made great achievements in its economic development and "Ukraine is willing to learn China's successful experiences and strengthen exchanges and cooperation with China."     China has just successfully hosted the 2008 Olympic Games and its scale and level was impressive, the president said in a message to the forum.     Addressing the forum, former French Prime Minister Laurent Fabius said that apart from economic cooperation, the Europeans and Chinese should enhance their cultural exchanges to know each other even better.     "The economic and trade relations is the core of the Europe- China cooperation. We, Europeans and Chinese, should seize every opportunity to smoothen out potential frictions and to bridge the gap between the intensification of our commercial relationship and the weakness of our intellectual exchanges. In this respect, the Euro-China Forum plays a crucial part. And its influence keeps growing." he said.     Fabius also noted that Europe in the past called China "a sleeping giant" and the giant is now waking up.     "The success of the Beijing Olympic Games showed China's vigor and enthusiasm," he said.     Chinese ambassador to Ukraine Zhou Li said that Ukraine is an important country in Europe and the Chinese government attaches great importance to developing relations with Ukraine and Europe.     The bilateral economic and trade relations between China and Ukraine have developed steadily in recent years, he said.     "I believe the friendly cooperative relations between China and Ukraine will see a more brilliant future thanks to bilateral joint efforts," Zhou Li said.     The non-governmental forum was initiated by China Europe International Business School to foster unofficial exchanges between the two sides of the Eurasian continent. The forum was first held in 2002 in Barcelona, Spain.

LOS ANGELES, Sept. 16 (Xinhua) -- Chinese Vice Premier Wang Qishan announced Tuesday that positive results had been achieved at a one-day China-U.S. trade meeting here, saying China stands ready to work with the U.S. to further expand bilateral economic and trade ties.    "China-U.S. economic relation is not only important for our two countries, but important for the whole world," Wang said at the end of the 19th session of the China-U.S. Joint Commission on Commerce and Trade (JCCT), which was held at the Richard Nixon Presidential Library in a Los Angeles suburb.    As the world's biggest developing and developed countries respectively, China and the United States enjoy ever closer economic ties and ever solider foundation of bilateral cooperation, said the vice premier.Chinese Vice Premier Wang Qishan (R) meets with US Secretary of Commerce Carlos Gutierrez during the 19th session of the China-U.S. Joint Commission on Commerce and Trade (JCCT), at the Richard Nixon Presidential Library in a Los Angeles suburb, on Sep. 16, 2008. Senior officials of China and the United States gathered here on Tuesday to discuss various business and trade issues in order to seek ways to facilitate bilateral economic relations between the two countries.The Chinese government has always been attaching great importance to consolidating and developing China-U.S. economic relations, and we have done a great deal of work in terms of promoting trade balance and strengthening intellectual property protection," said Wang.    The Chinese vice premier co-chaired the one-day meeting with U.S. Commerce Secretary Carlos Gutierrez and U.S. Trade Representative Susan Schwab. Chinese Commerce Minister Chen Deming and U.S. Agriculture Secretary Edward Schafer also attended the meeting.    Wang said the meeting has secured mutually beneficial win-win results, and would go a long way to promote bilateral cooperation and create a good atmosphere for the next China-U.S. Strategic Economic Dialogue (SED), which will be held later this year.    Like SED, the JCTT is a major cooperation mechanism between the two countries to resolve problems and disputes regarding investment and trade issues through dialogue and discussion, according to Wang.    Echoing Wang's remarks, Gutierrez described Tuesday's meeting as "a very robust session with very robust outcomes."    He said the U.S.-China economic relationship has been the fastest growing one that his country has ever seen.    "The U.S. is today China's No.1 export market, and China the U.S.' No. 3 export market. The relation is growing so fast, so quickly, probably unique in history. And we manage this," said Gutierrez.    He mentioned that the two-way trade volume between the two countries had grown to 380 billion dollars last year from only 4 billion dollars when the JCCT mechanism was initially established in 1983.    During Tuesday's talks, the two sides reached consensus on a wide range of issues, including intellectual property protection, medical equipment acquisition and information security, officials said.    Ahead of this, five bilateral agreements were signed by senior officials from the two sides in areas like agricultural cooperation, food safety, trade statistics and rural information and communications technology development.    The Chinese side also announced to lift bird flu-related ban on poultry products from seven U.S. states including New York, and conditionally resume imports of American beef, while the U.S. side expressed its stance against trade protectionism and promised to push for the lifting of trade barriers against some Chinese products like see food, fruit and woodcraft.    Tuesday's meeting marked the 25th anniversary of the China-U.S. JCCT commission, a high-level government-to-government dialogue seeking to open market opportunities and resolve trade disputes between the two countries.    Wang was leading a big delegation of senior officials from the Ministry of Commerce, the Foreign Ministry, the Ministry of Finance, the Ministry of Agriculture and other ministries for the event.

Asahi Breweries Ltd., Japan's largest beer producer, is targeting the Chinese milk products market with an all-around manner with its new milk factory being under construction in China's Shandong Province, company officials told Xinhua Saturday.     A milk company, which has been building the factory, was established in Laiyang city, Shandong Province, in April. It's the first time for a large-scale Japanese corporation to enter the Chinese integrated milk business in the fields of both production and sales.     The company is owned 90 percent by Asahi. Business of the new company will involve the entire process from raising cows to marketing, while products will be sold to major cities such as Beijing, Shanghai and Qingdao under Asahi's proprietary label, according to Asahi Breweries officials.     Price of the Asahi milk products will be about 50 percent to 100 percent higher than average local milk, and sales in the first year will be targeted at 1 ton per day, they said. (Www.hxen.com)    The products will be launched onto the market prior to Aug. 8, the opening day of the Beijing Olympics, they added.

BEIJING, June 26 (Xinhua) -- The headquarters for quake-relief command of the State Council, China's Cabinet, on Thursday called for priority in reconstructing public facilities such as schools and hospitals in the country's southwestern quake-hit region.     At a regular meeting presided over by Premier Wen Jiabao, the headquarters clarified the main tasks of the relief and reconstruction in the quake-hit zone, giving priority to rebuilding and quality of public facilities that were closely related to the lives of local residents. Chinese Premier Wen Jiabao (C) speaks during the 22nd meeting of the headquarters for quake-relief command of the State Council, in Beijing, capital of China, June 26, 2008. Reconstruction should also pay great attention to the preservation of traditional and cultural relics.     When the local governments help farmers rebuild homes, officials should fully respect their will and mobilize more social aid, as well as governmental subsidies, the headquarters ordered.     It suggested that those involved in the rebuilding of transport, communication, energy and other infrastructure should first resume their operation and properly arrange their location in accordance with local geological conditions. Chinese Premier Wen Jiabao looks at a map of the quake-hit areas during the 22nd meeting of the headquarters for quake-relief command of the State Council, in Beijing, capital of China, June 26, 2008.Many factories, arable land and farmer's crops were damaged by the devastating May 12 quake that killed nearly 70,000. The headquarters stressed the seriously-destroyed factories be rearranged to resume production in new sites and for the recovery of local agriculture as soon as possible.     It reminded all quake-relief officials the reconstruction would be long-term and a tough task for governments as it required scientific planning and an orderly procedure.