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BEIJING, Dec. 19 (Xinhua) -- Chinese Premier Wen Jiabao brought hope and confidence to the world in its fight against climate change by attending the summit of the UN Climate Change Conference in Copenhagen, Foreign Minister Yang Jiechi said Saturday.Yang, who had accompanied Wen during his visit on Thursday and Friday, said climate change profoundly affected mankind's existence and development, imposed a critical challenge to the world, and should be tackled by all countries jointly.     The Copenhagen conference was an important opportunity to boost international cooperation in combating climate change, Yang said.     Under the joint efforts of all parties, the conference yielded significant and positive fruits in three aspects, he said.     First, it firmly upheld the principle of "common but differentiated responsibilities" set by the UN Framework Convention on Climate Change and the Kyoto Protocol.     Second, it made a solid step forward in promoting developed countries' binding emissions cuts and developing countries' voluntary mitigation actions.     Third, it produced important consensus on the key issues of long-term global emissions cut targets, funding and technology support to developing countries, and transparency.     Yang said Premier Wen's attendance at the summit showed the Chinese government took a highly responsible attitude toward the Chinese people, all peoples in the world and mankind's future.     Over the last two days, Wen delivered an important speech to the summit, kept close contact with many parties, communicated and coordinated with them, overcame various difficulties, and guided action according to situation. He adopted a principled but flexible attitude, broke his back to move the climate talks forward on the right track, and played a pivotal role in the climate talks.     Wen's attendance contributed to the global fight against climate change mainly in three fields, Yang said.     FIRST, ABIDING BY PRINCIPLES, MAINTAINING A FOUNDATION FOR COOPERATION     Yang said developing and developed countries were very different in their historical emissions responsibilities and current emissions levels, and in their basic national characteristics and development stages, therefore they should shoulder different responsibilities and obligations in fighting climate change.     According to Yang, Wen told the conference the international community must adhere to the following four principles to combat climate change.     First, maintaining the consistency of outcomes:     The outcome of this conference must stick to rather than obscure the basic principles enshrined in the Convention and the Protocol. It must follow rather than deviate from the mandate of the "Bali Roadmap." It should lock up rather than deny the consensus and progress already achieved in the negotiations.     Second, upholding the fairness of rules:     The principle of "common but differentiated responsibilities" represents the core and bedrock of international cooperation on climate change and it must never be compromised. Developed countries must take the lead in making deep quantified emission cuts and provide financial and technological support to developing countries. Developing countries should, with the financial and technological support of developed countries, do what they can to mitigate greenhouse gas emissions and adapt to climate change in the light of their national conditions.     Third, paying attention to the practicality of the targets:     In tackling climate change, the world needed to take a long-term perspective, but more importantly, focus on the present. It was important to focus on achieving near-term and mid-term reduction targets, honoring the commitments already made and taking real action. One action was more useful than a dozen programs. The conference should give people hope by taking credible actions.     Fourth, ensure the effectiveness of institutions and mechanisms:     The international community should make concrete and effective institutional arrangements under the Convention to have developed countries honor their commitments, provide sustained and sufficient financial support to developing countries, speed up the transfer of climate-friendly technologies and effectively help developing countries strengthen their capacity in combating climate change.     Yang said Wen's propositions reflected developing countries' common stance. The propositions were reasonable and lawful, based on the present, faced the future, addressed all parties' interests, pointed out the direction for the climate conference when it was at the crossroads, effectively kept and boosted the talks, and won wide support and praise.

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.

ZHENGZHOU, Nov. 10 (Xinhua) -- Chinese President Hu Jintao has urged to establish and improve the mechanism of democratic self-governance of villages that can both secure the Communist Party's leadership and safeguard villagers' rights.     In a recent written instruction, Hu called on local officials to make efforts to improve the grassroot governance mechanism in rural areas in line with the basic conditions of the country.     Other leaders including Vice President Xi Jinping have also made similar instructions.     In a meeting on Tuesday in Zhengzhou, capital of central China's Henan Province, Li Yuanchao, head of the Organization Department of the Communist Party of China Central Committee, urged officials to study the leaders' instructions.     The building of grassroot governance organizations in rural areas must be strengthened, and the village-level democracy and self-government mechanism must be further improved, Li said.

BEIJING, Nov. 14 (Xinhua) -- China's industrial output is expected to grow by about 16 percent year on year this month and in December and the full year industrial output growth could reach around 10.5 percent, Minister of Industry and Information Technology Li Yizhong said here Saturday.     At the 3-day International CEO Roundtable conference, Li said the industrial output growth would guarantee the manufacturing-based Chinese economy should achieve its full-year growth target of 8 percent.     China set the about 8-percent growth target in March this year. The government believes 8-percent GDP growth is essential to generate enough jobs.     According to the minister, China's industrial economy stopped falling and began to stabilize and recover in March this year. In October, China's industrial output rose 16.1 percent from a year earlier, the fastest pace since March 2008 and the sixth consecutive month with an acceleration of year-on-year growth.     Li said the industrial output in October had climbed to the level in June last year, which indicated a V-shaped curve of the recovery of the industrial production activities.     Other figures, such as rising company profit, surging power consumption, and increasing export orders, also pointed to the notable recovery of China's industrial production, he said.     Li also cautioned that the recovery base of China's industrial production was not solid and some industries and companies were still faced with production and operation difficulties.     He said China should continue its efforts to restructure its economy and change growth pattern by promoting innovation and technological upgrading, conserving energy and cutting emissions, and integrating information technologies with industrial development.     According to the minister, the industrial production accounted for 43 percent of China's total GDP in 2008 and contributed 42.8 percent to the GDP growth last year.     Thanks to the global financial crisis, China's economy cooled to its slowest pace in seven years in 2008 and expanded 9 percent from a year earlier to reach 30.07 trillion yuan (4.4 trillion U.S. dollars).

BEIJING, Dec. 25 (Xinhua) -- Chinese Vice President Xi Jinping on Friday called for continued efforts to further study and practice the Scientific Outlook on Development.     Xi made the remarks at a meeting on further studying and practicing the Scientific Outlook on Development, which emphasizes the well-being of people and comprehensive, coordinated and sustainable development.     The CPC launched an 18-month campaign to study and implement the outlook in September last year.     The campaign had so far yielded positive results, Xi said.     The Vice President urged relevant authorities to focus on improving social harmony and stability as well as party building at grassroots levels.     They should also focus on speeding up the transformation of the country's economic development mode, and should make meticulous plans for next year's work, in order to push forward reforms and development and maintain stability, he said.

来源：资阳报