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BEIJING, Nov. 19 (Xinhua) -- Chinese ministries and local governments have coordinated efforts to combat price hikes by increasing grain supplies, clamping down on speculation and offering subsidies, as the central government has growing concerns about rising inflation.In a move to head off price hikes, the State Administration of Grain will increase sales of grain supplies to meet the public's needs and stabilize market prices, the agency said in a statement posted on its website Friday.Additionally, it will sell a set amount of cooking vegetable oil and soybeans from government reserves beginning next week, in addition to the weekly sales of wheat, rice and corn that has already begun, the statement said.The authority will also send groups of staff to major grain production regions to inspect and guide purchases of autumn grain and regulate business practices, it added.The statement said the move was designed to protect farmers' interests and maintain moderate prices in the grain market.Further, the Ministry of Agriculture announced Friday that it will work to add 8 million mu (0.53 million hectares) of planting areas for vegetables and 2 million mu for potatoes to stabilize agricultural production and increase vegetable supplies during the winter.Also, Zhou Bohua, head of the State Administration of Industry and Commerce, said the administration will "seriously" work to prevent the hoarding of agricultural products, forcing up prices and other speculative practices.These measures echoed the central government's call to tame price rises.China's State Council, or the Cabinet, on Wednesday announced price control guidelines to reassure consumers facing rising inflation.The efforts mainly included imposing temporary price controls on important daily necessities and production materials when necessary, and urging local authorities to offer temporary subsidies to needy families.In addition, the government will work to ensure market supplies and strengthen market supervision.Local governments also unveiled specific measures intended to help people pressured by the higher cost of living. The city government of Changchun, capital of northeastern Jilin province, has announced it will hand out subsidies to more than 40,000 low-income households this month, distributing 50 yuan to each household.Also, Mao Zhiming, an official with the city government of Taiyuan of northern Shanxi province, said the city will offer subsidies to low-income families each month beginning from the first month when the local consumer price index (CPI) rises above 3 percent and continuing until the third month that the CPI remains below 3 percent.

BEIJING, Nov. 26 (Xinhuanet) -- The Shanghai municipal government is making moves to enhance its mergers and acquisitions (M&As) market, a move in tune with the cosmopolitan city's ambition to make itself a global financial hub by 2020.The city will initially actively propel the construction of its financial market and M&A-related auxiliary services, especially the agents who facilitate deals, to aid these activities, said Shanghai Vice-Mayor Tu Guangshao on Thursday.He said the local government is also considering setting up a China Mergers and Acquisitions Association in Shanghai.Meanwhile, plans to open an M&A museum are also in the pipeline to help create an M&A culture in the city."We've made concrete efforts to encourage benign conditions to allow these plans to materialize," Tu said.The M&A market, in turn, will help catalyze improvements in the city's financial market functions, structures, and systems, as well as boosting badly needed adjustments to its economic structure. This will help Shanghai further speed up its plans to become a global financial center by 2020, an ambition which was approved by the State Council in March 2009.According to figures from the Shanghai headquarters of the People's Bank of China (PBOC), there are 11 financial institutions running M&A loan businesses in the city, lending more than 10 billion yuan (.5 billion) during the first seven months of this year.The central government in September issued guidelines on the promotion of enterprise M&A in six major industries, including automobiles and cement, to accelerate cross-border corporate restructuring and cater for the nation's aim of rebalancing the economy as the 12th Five-Year Plan (2011-2015) approaches."We should increase support for cross-border M&A activities, which is of great significance to China's economy and will help stimulate the Asian economic recovery," said Su Ning, board chairman of China UnionPay, the country's only credit card network.The former vice-governor of the PBOC also urged more private firms, which have actively sought areas of overseas expansion, to participate in cross-border deals using their extensive capital resources.China's private economy accounts for more than half of the nation's gross domestic product, according to Huang Mengfu, vice-chairman of Chinese People's Political Consultative Conference. "Active private investment, as such, is pivotal to the nation's economic development the non-State economy will certainly replace investment by State-owned firms as a driving force to boost the Chinese economy after the financial crisis," said Huang, who also serves as chairman of All-China Federation of Industry and Commerce.Privately owned auto maker Zhejiang Geely Holding Group in August completed its .8 billion acquisition of a stake in Volvo Car Corporation, a move which emphasizes the desire of China's cash-rich private companies to make acquisitions abroad.In addition, industry experts said that financial institutions should develop more financial innovations to supply China's overseas acquisition wave, and encourage more private equity funds to participate in cross-border deals, rather than simply focusing on pre-Initial Public Offering projects.

HANOI, Dec. 11 (Xinhua) -- Chinese and Vietnamese people kicked off a four-day mass gala here Saturday in Vietnamese capital city of Hanoi to celebrate 60 years of bilateral diplomatic ties.Tong Thi Phong, Secretarty of the Communist Party of Vietnam Central Committee, said at the opening ceremony that bilateral friendly relations between Vietnam and China are the treasure of two peoples, and the two countries have seen strengthened cooperation in various fields in recent years.Phong said the four-day big gathering of the Vietnamese and Chinese people will strengthen mutual understanding between the two countries, enrich bilateral comprehensive strategic cooperative partnership and advance bilateral ties.Chen Haosu, president of the Chinese People's Association for Friendship with Foreign Countries, said at the opening ceremony that China and Vietnam are good and close neighbors.Chen said this year marks the 60th anniversary of the establishment of bilateral diplomatic relations and China-Vietnam Friendship Year. Friendly-exchange activities held throughout this year have brought two peoples closer, said Chen.Chen expected the four-day gathering between Chinese and Vietnamese people could be conducted in the sprit of "carrying out traditional, strengthening friendship, promoting cooperation and advancing development".Chen said he is confident that the gathering would contribute to the strengthening of mutual trust and cooperation.Vu Xuan Hong, president of Vietnam Friendship Association attended the opening ceremony and spoke highly of the development of Vietnam-China friendly relations in recent years.The four-day gathering includes a number of activities like seminars on education policies and social policies, and an evening gala themed in "China-Vietnam Friendship Night".

ZHENGZHOU, Dec. 1 (Xinhua) -- A Chinese court Wednesday upheld the death sentences with two year reprieves given to two mine bosses found responsible for a gas explosion that killed 76 people at a central China coal mine last year.The sentences were the first time mine bosses in China held responsible for a fatal accident were given the death penalty.The provincial high court in Henan Province rejected the appeals of Li Xinjun, former head of the No. 4 coal mine in the Xinhua District of Pingdingshan City, and Han Erjun, former deputy head of the mine.The court also rejected appeals filed by three other managers of the mine who were sentenced to 13 years, 15 years and life imprisonment respectively.The Intermediate Court of Pingdingshan City sentenced the five mine bosses on November 16 for neglecting safety procedures and forcing miners to work underground despite knowing the mine lacked adequate safety measures.The blast ripped through the No. 4 mine in Pingdingshan City on September 8, 2009, as 93 miners worked underground, killing 76 and injuring 15 others.The mine was under technological renovation at the time of the blast and did not have a safe production license, the court has found.China's coal mines are notorious for deadly accidents. More than 2,600 miners were killed in mine accidents in China last year, a number significantly less than in previous years.

MANILA, Dec. 4 (Xinhua) -- A cargo ship with 24 Chinese crew aboard sank off the waters of the Philippines' Batanes province on Friday afternoon, the Philippine National Police (PNP) said Saturday.Quoting a report from the Batanes provincial police office, PNP spokesman Chief Supt. Agrimero Cruz said Saturday the Panama cargo vessel MV Hong Wei met the incident about 120 nautical miles (222 kilometers) off Itbayat island around 3:22 p.m. Friday.Cruz could not immediately say what caused the vessel to sink or the vessel's destination.A passing vessel, MV Shun Tong, and a ship from China's Taiwan region's coast guard rescued 12 crew and two passengers, respectively, said Cruz, adding that at least three ships from Taiwan region's coast guard are currently at the scene to conduct search and rescue operations for the 10 still missing crew members.A rescue vessel from the Chinese mainland is expected to arrive at the site anytime Saturday to join the search and rescue operations, said Cruz.Wang Ben, police attache of the Embassy of the People's Republic of China in the Philippines, told Xinhua that the embassy has confirmed the incident with China's Ministry of Transport. The ministry said that rescuing vessels from the Chinese mainland and Taiwan are conducting joint search and rescue operations, said Wang.The Philippines, a Southeast Asian archipelago country, is located to the south of China.