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BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

LHASA, Oct. 7 (Xinhua) -- At least nine people were killed in a strong earthquake that jolted a county near Lhasa, capital of southwest China's Tibet Autonomous Region, on Monday, the rescue headquarters confirmed early Tuesday morning.     The previous "at least 30" death toll was inaccurate due to unauthoritative sources and needs further check.     Rescuers arrived at Yangyi Village, the worst-hit site in Gedar Township of Damxung County, late Monday night after repairing the road once paralyzed in the 6.6-magnitude tremor.     At least 147 houses in Yangyi and villages in a neighboring county collapsed. Rescuers recovered nine bodies from the debris, and 11 people were seriously injured while eight others received light injuries, Hao Peng, deputy chairman of the autonomous regional government and head of the rescue command, told Xinhua.     More than 600 soldiers, police officers, firefighters, traffic, medical and geological experts were rushing to the quake zone.     Food, drinking water, tents and other materials had been transported to the area. Rescue operation was underway. The injured were being sent to local hospitals.     An earthquake measuring 6.6 on the Richter scale jolted Damxung,82 km from Lhasa, at 4:30 p.m. Monday. The epicenter was at 29.8 degrees north and 90.3 degrees east.     Tremors were felt in Lhasa, but no major damages were found in buildings or historical sites there, including the famed Potala Palace and the Jokhang Temple.     "We examined every palace and building right after the quake and no damages were found," said Jamba Gesang, head of the management department of the Potala Palace. A woman with her child walks past collapsed buildings in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morning    The Jokhang Temple kept hosting visitors as all constructions were unaffected in the tremor.     Key cultural relics also stayed intact, as the sites were far from the epicenter, said Yu Dawa, chief of the cultural heritage bureau of Tibet. A local farmer checks the damaged building in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morningThe famous Bargor Street was as bustling as usual.     The Qinghai-Tibet railway and Lhasa airport remained in normal services.     "The downtown area of Lhasa is relatively safe and there is no need to be panic," Zhu Quan, head of the local seismological bureau, told Xinhua.     More aftershocks may hit Damxung but would not cause damages to buildings in the downtown area, Zhu said.     The quake was measured at level VIII on the 12-level MMI (modified mercalli intensity) scale in the epicenter and it was felt at level V in Lhasa, Zhu said at a press conference.     The MMI scale measures the intensity of an earthquake from its perceptible effects with level V indicating it could be felt by everyone and could break windows. At level VIII, a quake can result in partial collapse of ordinary buildings.     "I was shaken for a few seconds, and lamps in the office swayed. Then everything returned to normal," Xinhua reporter Xue Wenxian said.     Classes ended early in some schools in Lhasa.     The national seismological network recorded another earthquake measuring 5.2 on the Richter Scale in the county at 8:10 p.m. Monday. The regional earthquake monitoring network said it had observed 15 aftershocks.     An emergency response scheme was launched across the region soon after the quake broke out. The local government has sent a working team to guide relief operation in the quake-hit areas.     The rescue headquarters asked relative authorities to release quake information to the public in time.     Another 6.8-magnitude earthquake shook Tibet's neighboring region of Xinjiang on Sunday, but no casualties have yet been reported.     The quake hit at 11:52 p.m., with its epicenter at 39.6 degrees north and 73.9 degrees east in a mountainous area about 100 km from the county seat of Wuqia, Kizilsu Kirgiz Autonomous Prefecture.     Xinjiang earthquake monitoring network said it had observed 196aftershocks as of 1:30 p.m. on Monday, including two above magnitude 5.The debris of collapsed buildings is seen in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morning

CHENGDU, June 29 (Xinhua) -- The current earthquake relief and rebuilding work have further displayed the nature and capabilities of the Communist Party of China (CPC), said Chinese Vice President Xi Jinping Sunday in a tour to quake-hit areas of Sichuan Province.     The mainstay role played by Party organizations at different levels, Party members and officials in the anti-quake campaign shows that the recent years' efforts to Party building have been "very fruitful," said Xi, also member of the Standing Committee ofthe CPC Central Committee Political Bureau.     During his 3-day inspection tour, Xi visited Youxian, Pingwu, Beichuan, Jiangyou, Dujiangyan and Wenchuan counties, which were worst hit by the May 12 earthquake. Chinese Vice President Xi Jinping (Front) looks at quake ruins in Yingxiu Town of Wenchuan County, southwest China's Sichuan Province, June 29, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe talked to ordinary quake survivors, Party members and officials, and rescuers, while visiting tents and makeshift residence buildings. He also distributed books to some students. He told construction workers from Shandong, Guangdong and all other provinces to ensure the quality of the temporary houses.     Wherever he went, Xi inquired the performances of local Party organizations and Party members in the rescue and relief work. He spoke highly of the many "Party Member Commandoes", who have won high appreciation by the people.     "(We must) ensure that where there are people still in need, anti-quake efforts and rebuilding work to be done, there are grassroots Party organizations and Party work," he said.     On Sunday afternoon, Xi presided over a workshop, to hear reports by local officials and study relief, post-quake rebuilding, and economic and social development in Sichuan. Chinese Vice President Xi Jinping (C) visits quake-affected people at a resettlement in Dujiangyan, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe said "a safe, timely and smooth relay of the Olympic Torch in Sichuan must be ensured," which will be the last leg of the torch relay only second to Beijing, host city of the 29th Olympic Games.     On the same day, Xi had a meeting with visiting delegations of the Hong Kong and Macao special administrative regions, respectively led by HK Chief Executive Donald Tsang Yam-kuen and Macao Chief Executive Ho Hau-wah. Chinese Vice President Xi Jinping (L) shakes hands with a woman as he visits quake-affected people in Pingtong Town of Pingwu County, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent days.

BEIJING, Sept. 24 (Xinhua) -- China and Venezuela on Wednesday inked a series of agreements on wide-ranging fields, a sign of bilateral efforts to advance their strategic partnership to a new high.     The agreements came out of the summit talks in the Great Hall of the People as Beijing rolled out the red carpet for Venezuelan President Hugo Chavez.     The 12 new cooperative deals covered trade, oil, finance, education, justice, telecommunications, infrastructure, sports and cultural relics. Chinese President Hu Jintao(R) meets with visiting Venezuelan President Hugo Chavez at the Great Hall of the People in Beijing, capital of China, on Sept. 24, 2008.    Chinese President Hu Jintao gave an honor guard reception to Chavez, who was on his fifth visit to China since taking office as Venezuelan president.     In their hour-long talks, Hu first thanked the Venezuelan government and people for providing relief to China following an 8.0-magnitude earthquake that devastated the southwestern China on May 12.     In response, Chavez said the Venezuelan people were sympathetic with the victims in the quake. He wished the Chinese government and people a speedy recovery from the disaster.     On the Beijing Olympics and Paralympics, Hu said China appreciated Venezuela's generous support while Chavez said the successes of hosting the two games would go down in history.     Stressing both China and Venezuela stayed at an important stage, Hu said the two countries shared the goal of stepping up substantive cooperation and seeking common prosperity.     To advance the bilateral strategic partnership, Hu proposed the two countries keep the high-level visits, enhance dialogues between the governments, legislatures and ruling parties, and exchange views on issues of common concern.     On the economic front, Hu said China would like to deepen "all-phase and integrated" oil cooperation with Venezuela, encourage businesses to invest in Venezuela and establish a trade zone.     China will also participate in building Venezuela's infrastructures, including railway system, telecommunications network, social housing and hydro-power.     Hu also called on the two countries to work more closely in education, culture, science and technology, justice, sports, journalism and poverty eradication.     Sharing Hu's view on bilateral ties, Chavez said bilateral trade had progressed smoothly, citing remarkable progress in oil, agriculture, science and infrastructure.     Chave said Venezuela would like to work closely with China on stronger political ties, increased dialogues and more substantive cooperation in energy, finance, agriculture and machinery.     On international issues, Hu and Chavez agreed to step up communication and consultation in multi-lateral organizations and on global issues, so as to safeguard the reasonable rights of developing countries.     Earlier Wednesday, top Chinese legislator Wu Banguo also met with Chavez. Wu said China's National People's Congress, the country's top legislature, would like to maintain its friendly exchanges and cooperation with the Venezuelan legislature, boosting the overall bilateral ties.     Chavez will conclude his three-day state visit to China on Thursday.