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MACAO, Dec. 20 (Xinhua) -- Chinese President Hu Jintao said here Sunday that the cause of "one country, two systems" is an important part of the rejuvenation of the Chinese nation, stressing that "the great motherland is always a strong back-up force for the prosperity and stability in Hong Kong and Macao." Hu, also general secretary of the Central Committee of the Communist Party of China (CPC) and chairman of the Central Military Commission, made the remarks when delivering an important speech at the celebration gathering marking the 10th anniversary of Macao's return to the motherland. The advance of the great cause of "one country, two systems" calls for the joint efforts of the central government, the governments of the Hong Kong SAR and Macao SAR as well as people of all circles, the president noted. The central government will remain firmly committed to the principles of "one country, two systems", "Hong Kong people governing Hong Kong", "Macao people governing Macao" with a high degree of autonomy. The central government will continue to act in strict accordance with the basic laws of the Hong Kong SAR and Macao SAR and give full support to the chief executives and governments of the Hong Kong SAR and Macao SAR in their governance according to law, he said. The president pledged that all policies adopted by the central government on Hong Kong and Macao always adhere to the principles of benefiting the long-term prosperity and stability of Hong Kong and Macao, the improvement of the livelihood of all residents in Hong Kong and Macao as well as benefiting the common development of Hong Kong, Macao and the country. Before his speech, the president administered the swearing-in ceremony of the Macao SAR Chief Executive Fernando Chui Sai On, principal officials of the SAR government and members of the Executive Council. The return of Macao to the motherland fulfilled the common aspiration of the people of all ethnic groups of the nation, including the Macao compatriots, said Hu. The event opens a new chapter in the history of Macao and is an important milestone in the development of the Chinese nation, he noted. Hu said that the past decade after Macao's return to the motherland witnessed the successful practice of "one country, two systems" in Macao, the smooth implementation of the Basic Law of the Macao SAR and the constant progress made by Macao people of all circles in pursuing a development road that conforms to Macao's realities. "Important inspiration can be obtained by reviewing the uncommon process of the past decade since Macao's return to the motherland," said Hu. First of all, it is imperative to have a full and correct understanding and implementation of the "one country, two systems" principle, he said, noting that the key is to realize the most extensive unity under the banner of loving the motherland and loving Macao. Hu noted that "one country, two systems" is a complete concept, with "one country" closely linked with " two system." On the one hand, the existing social and economic system and the way of life in Macao must be maintained, and on the other hand, the sovereignty, territorial integrity and security of the country must be safeguarded, and meanwhile, the socialist system practice in the main body of the country must be respected, the president noted. Hu said that it is imperative to safeguard the high degree of autonomy enjoyed by the Macao SAR and fully protect the master status of the Macao compatriots, but it is also imperative to respect the power endowed upon the central government by laws, and to firmly oppose any external forces in their interference in Macao's affairs. Early this year, the legislation of Article 23 of the Basic Law of the Macao SAR passed smoothly, a move Hu said fully reflects the strong sense of responsibility of the Government, Legislative Assembly and people of all circles of the Macao SAR to safeguard national security and interests. "The move also provides a strong guarantee for Macao's long-term stability," said the president. "As long as the compatriots of Macao unite under the banner of loving the motherland and loving Macao, they will be able to lay a solid political foundation for Macao's long-term prosperity and stability," said Hu. The president said that it is also imperative to act in strict accordance with the Basic Law of the Macao SAR, to focus on development, to maintain social harmony and stability and to cultivate talents. The compatriots of Macao are not only master of the Macao SAR but also the country, said Hu. Since its return to the motherland, Macao has obtained endless power of development and increasingly more opportunities of development from the fast development of the mainland, and shared the dignity and glory of the great motherland on the international arena, said Hu. The president said that people of all ethnic groups of the country will not forget the important contribution made by the compatriots of Macao to the country's reform and opening-up, socialist modernization drive and the great cause of reunification of the motherland in a peaceful manner. "We firmly believe that like the great motherland, Macao will enjoy a better tomorrow," said Hu.
BEIJING, Oct. 23 (Xinhua) -- Chinese Vice Premier Li Keqiang on Friday urged geologists to make full use of the country's rich resources and explore new energy in innovative ways. "Geological work makes the basic and pioneer industry for economic and social development and it affects the country's overall modernization... We should mainly depend on our own power to increase energy supply," said Li at the ceremony for the country's top geological science awards. A total of 14 geologists from the geological exploration, research and education fields received the 11th Li Siguang Geological Science Award. Chinese Vice Premier Li Keqiang (R) meets with winners of the Li Siguang Geological Science Award in Beijing, capital of China, on Oct. 23, 2009The award is named after China's leading geologist Li Siguang, founder of China's geomechanics. Oct. 26 marks the 120th anniversary of Li Siguang, whose research led to the discovery of China's major natural gas and oilfields. Li Keqiang said geologists, especially those doing fieldwork, shoulder arduous missions and suffer tough outdoor conditions. He urged related organizations to take care of their life and work and create favorable environment for the innovation in geological science and technology.

BEIJING, Dec. 31 (Xinhua) -- Chinese Vice President Xi Jinping Thursday urged improving the quality of Party officials at grassroots level. Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks here while meeting with Wang Boxiang, former secretary of a county committee of the CPC, whom Xi described as the model of such officials in the new period. Wang, born in 1943, has been a local official for more than 30 years and won praises for keeping a just and thrifty working style. From 1986 to 1991, he was Secretary of the Shouguang County Committee of the CPC in east China's Shandong Province. He led local people to promote greenhouse vegetable production, develop alkaline soil, and launch industrial projects, which greatly boosted local economic growth and solved the imbalance of development between north and south of the county. Xi said Wang helped build a solid material foundation for the county's development and won acclaim from both local officials and people with his hard work and uncorrupted behaviors. Xi called upon other Party members and officials to learn from Wang and seek benefits for people while at the same time maintain a clean style in life and work.
BEIJING, Nov. 20 (Xinhua) -- Profits of China's state-owned enterprises (SOEs) administered by the central government more than doubled in October from a year ago after months of declines, a senior official said here on Friday. The 132 central SOEs reaped a profit of 79.5 billion yuan (11.64 billion U.S. dollars) in October, up 151 percent year on year, said Huang Shuhe, deputy director of the State-owed Assets Supervision and Administration Commission (SASAC) at the 2009 Annual CEO Forum. In October, revenues surged by 22 percent from a year ago to nearly 1.16 trillion yuan, Huang said. Their profits during Jan-Oct was 633.8 billion yuan, while revenues amounted to 9.83 trillion yuan during the same period. Huang also noted 24 central SOEs had entered the rank of Fortune 500 companies. "China's companies still face difficulties and great challenges due to roaring raw material prices, huge environmental pressure and rampant protectionism triggered by the financial crisis," he said. He said the companies should further enhance independent innovation, improve corporate governance and accelerate the pace of "go global" to compete with foreign brands.
BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day. Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits. About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market. The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively. The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price. Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months. Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback. China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan. It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later. China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States. Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007. The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then. By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu. Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction. The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride. Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses. "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled." The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent. Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations. The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.
来源:资阳报