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BEIJING, June 2 (Xinhua) -- The China Investment Corporation (CIC), the country's sovereign wealth fund, announced Tuesday that it decided to buy 1.2 billion U.S. dollar common stocks in Morgan Stanley's 2.2-billion-U.S.-dollar common stock offering. Morgan Stanley announced Tuesday it had priced a public offering of common equity of 2.2 billion U.S. dollars. The proceeds are intended to fully redeem the preferred capital of the Troubled Asset Relief Program (TARP) before the end of June. The TARP is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the U.S. government's measures in 2008 to address the subprime mortgage crisis. Morgan Stanley notified the CIC of the offering in light of its healthy business relationship with CIC and the preemptive rights CIC holds. CIC plans to participate in this offering, according toa notice on its Web site. CIC was optimistic in Morgan Stanley's future development as "Morgan Stanley is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry". On December 19, 2007, CIC purchased 5.6 billion U.S. dollars mandatory convertible securities into Morgan Stanley common stock, representing approximately 9.86 percent equity ownership in Morgan Stanley. However, after Mitsubishi UFJ Financial Group, Inc.'s investment in Morgan Stanley in October 2008, CIC's equity ownership was diluted to approximately 7.68 percent. This new purchase would bring CIC's equity ownership in Morgan Stanley back to approximately 9.86 percent, effectively reducing CIC's overall cost basis and increasing the returns potential, said CIC. According to a statement posted on Morgan Stanley Web site Tuesday, it has priced a public offering of approximately 80.2 million shares of common stock to the public at 27.44 dollars per share. CIC has agreed to purchase 44.7 million shares of common stock at the public offering price while the Mitsubishi UFJ Financial Group, Inc. has agreed to buy 16 million shares, the Morgan Stanley statement said.
HOHHOT, June 9 (Xinhua) -- China held an anti-terrorism drill Tuesday afternoon to test its police forces' ability to handle a bomb containing radioactive contaminants. The drill, held in northern Inner Mongolia Autonomous Region's capital Hohhot, kicks off a series of drills in the autonomous region, Shanxi and Hebei provinces that surround Beijing. Members of the special police put on gas masks during an anti-terrorism drill in Hohhot, capital of north China's Inner Mongolia Autonomous Region, June 9, 2009. The exercise, codenamed "Great Wall-6", is aimed at improving the police forces' abilities to deal with possible terrorism attacks and other emergencies for the security of celebrations to be held in Beijing around Oct. 1 which marks the 60th founding anniversary of the People's Republic of China. In the first drill, special policemen and armed policemen confronted "terrorists" in the city's square and the "terrorists" triggered the bombs which spread radioactive contaminants. Members of the special police check the site of a "dirty bomb" during an anti-terrorism drill in Hohhot, capital of north China's Inner Mongolia Autonomous Region, June 9, 2009.Through close cooperation with the city's health and environment authorities, the police forces successfully controlled the situation, according to the exercise's command headquarters. The exercise will last through the middle of this month. Members of the special police rescue a "victim" during an anti-terrorism drill in Hohhot, capital of north China's Inner Mongolia Autonomous Region, June 9, 2009.
SHENZHEN, July 18 (Xinhua) -- Chen Yunlin, president of the mainland's Association for Relations Across the Taiwan Straits (ARATS) said Saturday that the ARATS will offer more support to help Taiwan businessmen weather through the financial crisis. Chen said this at a symposium here Saturday on the development of Taiwan companies amid the financial crisis. According to the Taipei World Trade Center, the second purchase delegation from the mainland had shown intention to purchase more than 600 million U.S. dollars worth of goods from Taiwan companies in the coming 12 months during a weeklong visit to the island, mainly involving food, drinks, garments and daily necessities. "Under the current circumstances, we should positively seek more cooperation opportunities to overcome the hardships," said Chiang Pin-kung, chairman of Taiwan-based Straits Exchange Foundation (SEF). The mainland will send the third procurement delegation to the island in August, focusing on the island's chemical industry, electronic products and automobiles. More than 50 representatives from the mainland-based Association of Taiwan Investment Enterprises, the Taiwan-based "Chinese National Federation of Industries" and other organizations attended the symposium, which was jointly held by the ARATS and the SEF.
BEIJING, April 27 (Xinhua) -- In light of an outbreak of swine flu in Mexico, China's Ministry of Health issued a notice Sunday about disease prevention and detection, warning citizens to be careful. The notice defines the symptoms of the disease and how it can be transmitted to humans. Although there is no vaccine yet, the disease is preventable, controllable and treatable, it said. As of Monday morning, no cases of the illness had been reported in China. The ministry said so far, there is no evidence that this flu could be spread through food. It also warned those who travel abroad to be alert for any signs of infection. Swine influenza A/H1N1 is a respiratory disease that infects pigs and does not normally infect humans. But sporadic cases do occur, usually for people who have had close contact with pigs. It has killed more than 60 people out of about 1,000 suspected cases in Mexico. China's General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) issued an emergency notice Saturday requiring people to report flu-like symptoms at the point of entry when returning from affected regions. According to the Health Ministry, the ministry is working with the Ministry of Agriculture and GAQSIQ to monitor the disease. The ministry has contacted scientists who have done viral sequencing on swine flu. It has also stepped up cooperation with the World Health Organization and the U.S. and Mexican governments to obtain updated epidemic information and prepare for a possible outbreak. China should establish an effective disease prevention and control system it it entry-exit inspection and quarantine process, the ministry added.
BEIJING, June 2 (Xinhua) -- Representatives from the Communist Party of China (CPC) and the ruling United Russia Party met Tuesday to exchange views on the international financial crisis. "This is the first official and high-level dialogue between the Chinese and Russian ruling parties," said Wang Jiarui, head of the International Department of the CPC Central Committee of his meeting with United Russia Party's council presidium secretary Vyacheslav Volodin. Wang and Volodin signed an agreement on party-to-party cooperation on later Tuesday. Chinese Vice President Xi Jinping attended the signing ceremony. Xi hailed the Sino-Russian relationship when meeting with Volodin before the ceremony, saying that China would work with Russia to promote stable and healthy growth of the ties, in a bid to benefit the two nations and peoples. Chinese Vice President Xi Jinping (R) meets with Vyacheslav Volodin, vice chairman of the Russian State Duma, in Beijing, capital of China, June 2, 2009 Volodin, and vice-chairman of the Russian State Duma, said his party valued the cooperation with the CPC. Volodin and his delegation were here on a visit from May 31 to June 3 at the invitation of the International Department of the CPC Central Committee.