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SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday.     Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange.     Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months.     Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation.     Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan.     This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said.     The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai.     China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices.     China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan.     China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.

BEIJING, May 31 (Xinhua) -- The Beijing mansion of former Chinese Honorary President Soong Ching-ling reopened to the public on Sunday after a two-year renovation and restoration project.     Rebuilt as a museum and memorial, Soong Ching-ling's former residence will have on display more historical artifacts used by Soong and her husband Sun Yat-sen, the pioneering Chinese revolutionary and political leader. Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits the former residence of Soong Ching Ling in Beijing, capital of China, May 31, 2009Top political advisor Jia Qinglin Sunday paid his respects at Soong's statue at the former residence.     Soong (1893-1981) married Sun Yat-sen in 1915 and fought for China's independence and liberty. She devoted herself to education and health affairs for children and women after the People's Republic of China was founded in 1949. Jia Qinglin (C Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, poses with guests for a group photo ahead of the re-opening ceremony of the former residence and life exhibition of Soong Ching Ling in Beijing, capital of China, May 31, 2009Du Qinglin, head of the United Front Work Department of the Communist Party of China Central Committee, said Sunday at Soong's former Beijing residence that the China Soong Ching Ling Foundation should continue to promote China's social progress and cooperation across the Taiwan Strait.Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference, talks with guests ahead of the re-opening ceremony of the former residence and life exhibition of Soong Ching Ling in Beijing, capital of China, May 31, 2009.

BEIJING, June 25 (Xinhua) -- Chinese President Hu Jintao raised a five-point proposal Thursday to advance the Sino-Turkish friendly and cooperative relationship to a higher level.     Hu put forward the proposal on promoting the Sino-Turkish partnership on the basis of mutual respect, mutual trust, equality and mutual benefit as well as common development, when talking with visiting Turkish President Abdullah Gul at the Great Hall of the People in Beijing. China was willing to work with Turkey to strengthen political ties, said Hu, adding that the two governments should strengthen communication and coordination and support each other on important issues concerning their core interests.     Their legislatures and parties should continue to conduct multi-level exchanges, so as to promote understanding and friendship. Chinese President Hu Jintao (R) shakes hands with visiting Turkish President Abdullah Gul during a welcoming ceremony for Gul at the Great Hall of the People in Beijing, capital of China, on June 25, 2009.    According to Hu, the other four points include expanding bilateral trade and economic cooperation, boosting cooperation to combat the "three evil forces" of terrorism, separatism and extremism and cross-border crimes, intensifying exchanges and cooperation in the fields of culture, education, tourism, mass media and public health, and maintaining multilateral cooperation to promote world harmony.     China is ready to strengthen communication and coordination with Turkey on the Middle East issue and combating pirates in the waters off Somalia and the Gulf of Aden, said Hu, noting that China also hoped to support and cooperate with Turkey in sustainable development and jointly dealing with the global challenges.     Hailing the long history of friendship between the Chinese and Turkish peoples, Hu said bilateral relations had made considerable achievements since the two countries forged diplomatic ties in 1971.     Hu said recent years had witnessed frequent high-level exchanges, increased mutual political trust, continuously enhanced cooperation and close coordination and collaboration in international and multilateral affairs.     China appreciated Turkey's adherence to the one-China policy and its support to China on the issues of Taiwan and Tibet, the president noted.     Gul said Turkey attached great importance to Turkish-Sino relations and spoke highly of China's achievements in its social and economic development and the significant role China played in international affairs.     Turkey was willing to strengthen political relations with China and boost cooperation related to finance, tourism, culture, infrastructure construction and science and technology, said Gul.     There was great promise for bilateral economic and trade cooperation, said Gul, stressing that Turkey seeks to further strengthen trade exchanges with China and expects more Chinese enterprises to make investments there.     Sino-Turkish trade was 12.6 billion U.S. dollars in 2008, up 6.8 percent year on year, and 8.6 billion U.S. dollars in China's favor, according to the Ministry of Commerce.     Gul also reiterated Turkey's adherence to the one-China policy and expressed the hope that it could enhance coordination with China in the United Nations and other multilateral organizations and cement cooperation in combating terrorism.     After the meeting, the two leaders witnessed the signing of seven bilateral documents on cooperation in foreign affairs, energy, cultural heritage, mass media and trade finance.     Gul arrived here on Wednesday, kicking off a six-day state visit to China as Hu's guest.

BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday.     The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs.     The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances.     The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC.     Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board.     Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.

BEIJING, May 14 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday met with President of the Socialist International(SI) George Papandreou on promoting the world's sustainable development.     Papandreou was leading a 15-member delegation to Beijing for a sustainable growth seminar co-sponsored by the Communist Party of China(CPC) and the SI.     Li, member of the Standing Committee of the Political Bureau of the CPC Central Committee, reviewed the increasing exchanges since the CPC and the SI started their exchanges in 1982.     "Jointly holding a seminar on sustainable growth signifies a positive step for both sides to deepen strategic dialogue," Li said.     The seminar, scheduled for Friday, will address how to work together to deal with climate change and other environmental challenges.     Li briefed Papandreou on the country's efforts to tackle the international financial crisis and seek sustainable development.     Li said the CPC valued the ties with the SI and its member parties and called for increased cooperation and deeper dialogue.     Papandreou said the Socialist International would like to seek more dialogue and cooperation with the CPC to promote sustainable development worldwide. Chinese Vice Premier Li Keqiang (R, front) meets with a 15-member delegation headed by President of the Socialist International (SI) George Papandreou who are here in Beijing for a sustainable growth seminar co-sponsored by the Communist Party of China (CPC) and the SI, in Beijing, China, May 14, 2009

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