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BEIJING, April 14 (Xinhua) -- Chinese cities saw the fastest economic growth among all cities internationally, in 2008, but their overall competitiveness was still only at medium or low levels globally, according to a report released here Tuesday.     The report, entitled the Blue Book of Urban Competitiveness, was released by the Chinese Academy of Social Sciences (CASS). It showed that ten of the 15 fastest-growing cities worldwide in 2008 were in China.     The ten cities are Baotou and Hohhot in the northern Inner Mongolia Autonomous Region, Yantai, Weifang and Weihai in eastern Shandong Province, Dongguan, Zhongshan and Huizhou in southern Guangdong Province, and Wuhu and Hefei in eastern Anhui Province.     However, Chinese cities ranked at only medium or low levels among world cities in terms of overall competitiveness, the report said.     The ten most competitive cities in China, according to the report, are Hong Kong, Shenzhen, Shanghai, Beijing, Taipei, Guangzhou, Qingdao, Tianjin, Suzhou and Kaohsiung. But Hong Kong only ranked the 26th among world cities, Shanghai the 41th, and the others still lower.     Ni Pengfei, a CASS scholar who led the research, said 294 large and medium-sized China cities were rated, including those in Hong Kong, Macao and Taiwan.     The overall competitiveness of a city is based on its advantages in human resources, capital, science and technology, infrastructure, environment, governance and so on.     The report was compiled by nearly 100 scholars from Chinese universities, statistics departments, and research institutes.

BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies.     Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009    The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years.     A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width."     The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters..     Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest

GENEVA, April 14 (Xinhua) -- Switzerland and China will soon sign a formal agreement on enhancing their cooperation in the field of sustainable water management and hazard prevention, the Swiss government said on Tuesday.     Federal Councilor and Environment Minister Moritz Leuenberger will make his first official visit to China on April 16 to sign this agreement, according to a government statement.     During his five-day visit, Leuenberger will also hold official discussions with Chinese Minister of Water Resources Chen Lei, attend the third Yangtze Forum and visit the Three Gorges Dam, the statement said.     Due to their mountainous regions, Switzerland and China face similar natural hazards, according to the statement.     At the same time, both countries harness their hydropower and are faced with the question of river basin management, which is likely to become more pressing due to climate change, it added.

BEIJING, April 13 (Xinhua) -- House prices in 70 major Chinese cities fell 1.3 percent in March from a year earlier, the National Bureau of Statistics said Monday.     The month-on-month figure, however, rose 0.2 percent in March.     In the first quarter, the area of commercial houses sold rose 8.2 percent to 113 million square meters and sales jumped 23.1 percent to 505.9 billion yuan (74 billion U.S. dollars), the NBS said.     Prices of new houses fell 1.9 percent year-on-year last month but rose 0.1 percent from February. Prices for second-hand houses rose 0.3 percent month-on-month despite of a decline of 0.4 percent from a year earlier.     Analysts warned it was still too early to say the property market had revived, as sales were mainly driven by surging credit and by stimulus policies, such as tax cuts. Other indicators, such as land purchases by developers, had shown no signs of recovery.     Floor areas of newly built houses in the first quarter tumbled 16.2 percent to 201 million sq m. The decline was 1.4 percentage points more than the January-February figure.     Land purchased for homebuilding fell more than 40 percent in the first quarter to 47.42 million sq m, and the actual area developed shrank 11.3 percent to 52.2 million sq m.     China Vanke, the country's biggest property developer by market value, reported on April 11 its first-quarter sales rose 21 percent to 12.22 billion yuan. Those of Poly Real Estate Group, the second-biggest, doubled to 6.48 billion yuan.