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BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign. These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference. The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said. The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October. However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth. CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said. CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation. The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index. From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period. The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

TIANJIN, Sept. 27 (Xinhua) -- China has full confidence and capability to overcome various difficulties to ensure sound and fast economic growth for an even longer period of time, said Premier Wen Jiabao on Saturday. Addressing the opening ceremony of the 2008 Summer Davos Forum in the north China port metropolis of Tianjin, Wen said China is in the stage of rapid industrialization and urbanization, and has huge potential for economic growth. The important period of strategic opportunities for China's development will last quite a long time. Despite the heavy snow and sleet storms and the devastating earthquake and a complex situation both at home and abroad the nation faced, China have overcome difficulties one after another and maintained the momentum of steady economic growth. "There are many favorable conditions for China to maintain sustained and fast growth, such as abundant supply of labor and capital as well as huge potential of increased domestic consumption and investment demands, vast market and more competitive and dynamic enterprises," said Wen. The demands for investment, consumption and export are growing in a more balanced way. The economic fundamentals in China remain unchanged and the economy is moving in the direction envisaged in the macro-economic control policy, he added. The two-day forum, also known as the New Champions 2008, has attracted about 1,400 participants from nearly 90 countries and regions, including business elite and senior officials, to discuss topics about the theme "The Next Wave of Growth". The second Annual Meeting of the New Champions organized by the World Economic Forum is officially opened at Tianjin Binhai Convention and Exhibition Center in north China's Tianjin Municipality, Sept. 27, 2008
BEIJING, Oct. 9 (Xinhua) -- President Hu Jintao on Thursday urged the Chinese army to carry forward the courageous spirit it had shown in the earthquake relief work earlier this year to better serve the people. Hu, also the Communist Party of China (CPC) Central Committee general secretary and Central Military Commission chairman, made the remark here while meeting soldiers and officers who were recognized for their outstanding contributions to the disaster relief work. On Wednesday, China held a ceremony to honor outstanding organizations and individuals for their contributions to the rescue and relief work after a catastrophic earthquake hit the southwestern Sichuan and some neighboring provinces on May 12, leaving more than 87,000 dead or missing. The People's Liberation Army (PLA) troops and armed police were among the first to provide rescue and relief following the quake. In total, 146,000 troops, armed police, reservists and police were mobilized for the rescue and relief. Chinese President Hu Jintao (1st. Front) meets with officers at a ceremony to honor outstanding organizations and individuals for their contributions to the May 12 earthquake rescue and relief work at the Great Hall of the People in Beijing, capital of China, on Oct. 8, 2008. Hu spoke highly of the army's key role in the arduous work. He said the PLA should draw from the experience to strengthen its capabilities against various threats to the nation's security. Guo Boxiong, CPC Central Military Commission vice chairman, described the army's involvement in the relief as "a large-scale, non-war military action," which tested and tempered the PLA's security-safeguarding abilities. He said strong and unified leadership, high morale and well-planned logistic support in the army were vital to the success of the quake relief.
NEW DELHI, Sept. 9 (Xinhua) -- China-India relationship stands at a new starting point, the two should view and approach relations from a strategic and long-term perspective and keep moving forward their partnership to benefit the two countries and peoples, visiting Chinese Foreign Minister Yang Jiechi said here Tuesday. He made the remarks in his speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies. Chinese Foreign Minister Yang Jiechi delivers a speech titled "For Peace and Friendship, Win-Win Cooperation and Common Development" at a meeting held by the Indian Council of World Affairs and the Institute of Chinese Studies in New Delhi, India, Sept. 9, 2008Yang said China and India are the two biggest developing countries in the world. He quoted Chinese President Hu Jintao as saying that China-India friendship not only serves the interest of both countries but also benefits Asia and the world at large. He said there is no conflict of fundamental interests between China and India. "What we have are broad common interests. We are partners, not rivals. There is a lot that we can do together to further our friendship and cooperation. We should view and approach our relations from a strategic and long-term perspective and keep moving forward our partnership in the new century to the benefit of our two countries and peoples." To this end, he proposed that efforts are needed to be step up in the five areas between the two countries: increase exchanges and enhance strategic mutual trust, boost economic cooperation and trade for win-win progress, expand people-to-people and cultural exchanges, strengthen cooperation in multilateral for a to uphold common interests, address each other's concerns and properly handle differences. "Today, our relations stand at a new starting point. Without friendly relations and mutually beneficial cooperation between China and India, there would be no development and prosperity of our respective countries, no harmony and rejuvenation of Asia, and no peace and progress of the world," he said. Yang arrived in India last Sunday. He attended the inauguration ceremony of China's consulate-general in Kolkata, the capital of West Bengal, met and reached agreement with the West Bengal's Governor and Chief Minister on ways to deepen friendly and multi-faceted cooperation between China and West Bengal. He called upon Indian Prime Minister Manmohan Singh and held talks with Indian External Affairs Minister Pranab Mukherjee in Delhi Monday. The two sides had an in-depth exchange of views and reached broad agreement on ways to further implement the common understanding reached by leaders of both countries and deepen the China-India strategic and cooperative partnership as well as issues of mutual interest.
来源:资阳报