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BEIJING - Chinese share prices rebounded by 1.88 percent on Tuesday with the Shanghai Composite Index, which covers both A and B shares, closing at 5,285.45 points at the end of morning session.The Shenzhen Component Index on the smaller bourse ended at 17,213.70  points, up 0.87 percent.The rise came after a fund has been approved to open for additional subscriptions late this week, which is believed to be a new signal from the government to back up the stock market.On November 4, China's Securities Regulatory Commission (CSRC) issued a notice ordering fund firms not to expand the promised scale of their funds within six months.Heavy weights drove up the share prices. Sinopec went up by 6.58 percent while the new market heavy weight PetroChina by 2.88 percent. China Shenhua rose by 2.36 percent.Steel shares also jumped, with Baosteel, the nation's biggest steel producer, rising 4.10 percent to 15.75 yuan, and with Anyang steel up by 9.39 percent to 10.25 yuan.On Monday, the benchmark Shanghai Composite Index dropped 2.4 percent, or 127.81 points, to close at 5,187.73 points, after falling to as low as 5,032.58 points in intra-day trading.Last week, the Shanghai Composite Index fell 8 percent to 5,315.54, the biggest weekly loss during the past nine years.

The Chinese-African People's Friendship Association (CAPFA) will nominate 10 Africans Who Have Deeply Moved Chinese People next month, in a moved aimed at cementing civilian diplomacy between the two sides.The 10 candidates are expected to be unveiled at the next Forum on China-Africa Cooperation (FCAC) late next year.Chen Haosu"CAPFA's recognition will benefit both peoples by enhancing mutual understanding and trust," Chen Haosu, president of the Chinese People's Association for Friendship with Foreign Countries, said.The awards will go to Africans "who have made great contributions to bilateral ties", Wang Tong, an representative of the CAPFA, said, adding that the association is identifying criteria of eligible candidates.The first round of nominations will involve all 131 councilors of the CAPFA, Liu Hongmin, also from the association, said."Our councilors include big Chinese entrepreneurs such as Huawei Technologies and ZTE, among others," he said. "They are the most suitable to put forward nominees because of their significant investments in Africa."Liu said the 10 winners will be just one part of the second China-Africa Friendship Award. The other part will be the 10 Chinese Who Have Deeply Moved the African People. This will be the second time such awards have been givenThe first 10 winners - which included doctors, journalists, scholars and politicians - were announced in Beijing during the FCAC in November 2006."These awards reflect sincere friendship and intense people-to-people communication, though China and Africa are distant from each other," Dai Yan, a former councilor in Ghana, said."But both peoples still have a long way to go to truly understand each other because of cultural differences," he said. More African people have traveled to China as bilateral ties have developed over the past years.The number of Africans coming to Guangzhou, capital of Guangdong province, has increased by 30 percent every year since 2003. Most of these newcomers are traders.The city now has about 20,000 African residents, Huang Shiding, of the Guangzhou Academy of Social Sciences, estimated.Beyond the world of business, "500-600 African students are studying in universities and colleges in Beijing," Wang said.Meanwhile, on the other side of the globe, a growing number of Chinese people have settled down in Africa.In one reflection of the impact they are making, people in Nigeria crowned tribal chieftains from China in 2001 and 2007.

Farmers from Taiwan looking to establish a business on the mainland can now benefit from a range of preferential policies, an official with the State Administration for Industry and Commerce said Wednesday.Pan Haimin said those who want to set up in one of the cross-Straits agricultural cooperation experimental zones or business incubator parks for farmers, can now apply direct to the appropriate county or city administration for industry and commerce.Speaking at a press conference held by the Taiwan Affairs Office of the State Council, he said compared to the general policy on registering Taiwan companies, the system for farmers is extremely simple."Local administrations will approve qualified applicants without them having to get approval from overseas fund administrations on the mainland," Pan said."Also, the new policies have no minimum registered capital requirements," he said.Other Taiwan-based companies seeking to open on the mainland must first get approval from the overseas fund administrations and there are requirements for minimum registered capital, he said.According to the policies, which will go into effect on Saturday, farmers can engage in planting, aquatic breeding, animal and poultry farming, agricultural product processing, export and import of agricultural products, and exchanges and promotion of agricultural technology.Currently, 11 provinces have established cross-Straits agricultural cooperation experimental zones and four provinces and municipalities have set up business incubator parks for Taiwan farmers.Pan said the local administrations of commerce and industry will offer free consultations on the new policies and people can also log on to the website of the state administration www.saic.gov.cn for more information.Also at yesterday's press conference, Fan Liqing, spokeswoman for the Taiwan Affairs Office of the State Council, urged the Japanese government to deal with the release of German Mark bonds held by Taiwan residents more quickly and with greater effort.Fan said the Japanese government is responsible for paying back the bonds that were issued in the 1920s.In 1923, many Taiwan residents were forced by the then Japanese colonial government on the island to buy the bonds, which promised to pay back the principal sums with interest in 50 years' time, Fan said.She said representatives of the Chinese Foreign Ministry met recently with officials from the Japanese Ministry of Foreign Affairs and insisted Japan pay back the bonds.Xinhua

Shanghai - German luxury car maker DaimlerChrysler AG is recalling 1,443 Chinese-made Chrysler 300C sedans to fix defective transmission cooling systems, China's quality watchdog said on Friday. The cars were produced between March 21 and May 29, the General Administration of Quality Supervision, Inspection and Quarantine said on its Web site. Imported Chrysler 300C cars were not affected, it added. It did not say whether any accidents or personal injuries had been linked to the defect. DaimlerChrysler's Chinese joint venture in Beijing began limited production of the 300C in 2005.

National authorities Thursday urged local governments to deal more firmly with cases of illegal land acquisitions. The move comes at a time when such cases are becoming increasingly common. A joint statement released by the Ministry of Supervision (MOS) and Ministry of Land and Resources said local government leaders should take the lead in protecting arable land. "The work to crack down on illegal land acquisition cases should be put at the top of the agenda," the statement said. The fast pace of economic development and the burgeoning property market have made land deals a lucrative prospect. The soaring land prices are filling local coffers and spurring further cases of illegal land acquisition. Land and Resources Minister Xu Shaoshi said yesterday that China must do everything it can to ensure that its arable land bank remains above the 120 million hectares red line. "Like a high voltage line, it should never be touched," he said. "Anyone encroaching upon arable land illegally will be dealt with harshly." The statement ordered local leaders to "waste no time" in "firmly supporting" the work of local supervision and land and resources officials. It also asked them to "bravely" shoulder the main responsibility in "actively" addressing such problems at the local level. Local supervision and land and resources officials have been ordered to "review" the cases found before last October and to "concentrate strength" to ferret out more, it said. Evidence of concealed deals of ineffective work will trigger an accountability mechanism, under which local leaders will be held accountable for malfeasance. Local supervision and land and resources departments will file monthly reports on the issue.