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SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday. Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange. Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months. Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation. Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan. This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said. The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai. China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices. China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan. China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.
CHENGDU, May 28 (Xinhua) -- Chinese Vice Premier Hui Liangyu called on Thursday Asian and European countries to improve their disaster prevention and relief abilities through cooperation and sharing of information. Hui made the remark at an Asia-Europe workshop on cooperation and capacity building in disaster prevention and relief, held in Chengdu, capital of southwest Sichuan Province. Hui said natural disasters are common challenges facing the whole mankind, and cooperation between Asian and European countries in disaster relief not only has an important bearing on the economic development and livelihood of the people, but also on the sustainable development of the mankind. "Asian and European countries should further enhance exchange and cooperation in monitoring and forecast of disasters, as well as emergency response and relief efforts," said Hui, who also suggested building of a cooperation mechanism and information sharing, that would serve the improvement of disaster prevention and relief abilities of all countries. China had frequent natural disasters and would share its experience in coping with disasters with other countries, Hui said. He said China would continue to provide support and aid within its ability to the capacity building in disaster relief for other developing countries. On the country's disaster prevention and relief capacity building, Hui said, China would further improve its monitoring of natural disasters and emergency rescue system, raise anti-disaster standards for buildings and increase public awareness of disasters and push for international cooperation in disaster relief. The vice premier expressed China's appreciation for international help and support to the country's disaster relief and quake relief after the 8.0-magnitude earthquake that struck Wenchuan of Sichuan on May 12, 2008.

BEIJING, June 12 (Xinhua) -- China's ethnic culture is an important component of the Chinese culture, has made enormous contribution to the formation and development of the Chinese Nationality, and has been a valuable spiritual treasure shared by the Chinese Nationality. This was remarked by Li Changchun, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, at a national work conference on ethnic culture, which opened here Friday. Li Changchun (L, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with the delegates of a national work conference on ethnic culture, in Beijing, capital of China, June 12, 2009.In a meeting with the delegates prior to the opening of the conference, Li called for deepening the study and practice of a scientific view of development, as well as efforts to open up a new situation for the undertakings of the country's ethnic culture. The official hailed the enormous achievements China has made in the undertaking of ethnic culture since the founding of the People's Republic of China in 1949 and particularly since the country took to the Reform and Opening-up Policy in 1978. The undertakings of China's ethnic culture is now at a new historic starting point, he said. The country will step up the building of infrastructure for public cultural facilities in minority areas, by well implementing a series of cultural projects funded by central finance. He pledged to send the voices of the Party Central Committee and the State Council to millions of homes of the minority people, so as to enrich the spiritual and cultural life of ethnic groups. Great efforts will be made to promote international exchanges of the ethnic culture, so as to increase the competitiveness and impacts of the Chinese culture, Li said. He called for further strengthening and improving the Party leadership on the work of ethnic culture and making efforts to build up a massive and high-quality group of ethnic cultural workers. Also present at the meeting were three members of the CPC Central Committee Political Bureau, including Vice Premier Hui Liangyu, CPC Central Committee Secretariat Member Liu Yunshan, and State Councilor Liu Yandong. The conference, the first of its kind in the country, was attended by provincial officials from across the country in charge of the matter, as well as officials from some central departments concerning ethnic affairs, culture, media and cultural heritage.
CHANGSHA, July 12 (Xinhua) -- Jia Qinglin, China's top political advisor, stressed the importance of social harmony and stability and urged people of all walks of life across the country to join efforts for achieving steady and relatively fast economic development. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks during his latest research trip to Hunan Province from July 9 to 12. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), inspects CSR Zhuzhou Electric Locomotive Research Institute Co. Ltd, in Zhuzhou, central China's Hunan Province, July 11, 2009. Jia inspected the province from July 9 to 12Jia said to maintain social harmony and stability was a crucial and pressing task currently, and stability was a blessing to citizens. He called on local governments to make every effort to safeguard national unity, solidarity among different ethnic groups and social stability.Jia Qinglin (2nd L, front), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), inspects Hunan Geely Auto Parts Co. Ltd, in Xiangtan, central China's Hunan Province, July 9, 2009. Jia inspected the province from July 9 to 12.
ASHGABAT, June 24 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here on Wednesday that the joint natural gas projects between China and Turkmenistan serve the fundamental and long-term interest of both peoples. Li made the remarks during a video conference with the Chinese and Turkmenistan's workers of China National Petroleum Corporation International (Turkmenistan). The workers had been busy with constructing a vast natural gas processing facility in a natural gas field some 700 kilometers southeast of Turkmenistan's capital Ashgabat. Chinese Vice Premier Li Keqiang (L Front) visits staff members of China National Petroleum Corporation International (Turkmenistan), in Ashgabat, Turkmenistan, June 24, 2009. The facility under construction is the starting point of the China-Turkmenistan pipeline, a part of the Central Asian Pipeline which starts at the border between Turkmenistan and Uzbekistan and runs through the southern part of Uzbekistan and central part of Kazakhstan before reaching to the Chinese northwest region of Xinjiang. Li said the China-Turkmenistan pipeline, initiated by the top leaders of the two countries, is a strategic project and has become a model for friendly cooperation between the two sides. He added that the project, after finished, would promote social and economic development of both China and Turkmenistan. Chinese Vice Premier Li Keqiang (2nd L Front) inspects, through a model, the construction of a natural gas plant of China National Petroleum Corporation International (Turkmenistan), in Ashgabat, Turkmenistan, June 24, 2009The Central Asian Pipeline, expected to be in operation at the end of this year, is connected with China's domestic natural gas pipeline network and thus can transport natural gas produced in Central Asian countries, especially in Turkmenistan, to major Chinese cities like Shanghai, Guangzhou and Hong Kong.
来源:资阳报