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URUMQI, Sept. 13 (Xinhua) -- Tests of victims' samples found no dangerous viruses or chemicals involved in a string of bizarre hypodermic syringe stabbings in Urumqi, capital of China's far western Xinjiang region, a military medical expert said Sunday. Qian Jun, head of the disease control and biological security office with China's Academy of Military Medical Sciences, said the academy's Beijing lab found no needle injury samples were tainted with radioactive substances, toxic chemicals or HIV virus. The samples were not contaminated with other dangerous viruses or substances either, such as anthrax bacillus, yersinia pestis, francisella tularensis, brucella and botulinum toxin, Qian told a press briefing. Local and military medical experts have rechecked about 250 victims and found no clearly worsening wounds or serious illnesses, he noted. By Sept. 4, local authorities had confirmed 531 victims of hypodermic syringe stabbings in Urumqi, 171 of whom showed obvious syringe marks. The majority of the victims were of the Han ethnic group. Tens of thousands of angry and panic residents in Urumqi took to the streets last week, protesting against needle attacks and demanding security guarantees. Qian suggested offering more psychological counselling to ease anxiety and depression of the victims as many are haunted with lingering fears of hidden infections. The Urumqi General Hospital affiliated to the Lanzhou Military Area Command has arranged three psychological experts and opened four counselling hotlines to help ease victims' fears and panic. Wang Wenxian, deputy director of the Urumqi municipal public security bureau, said the needle stabbings did not cause serious damages to the victims' health, but they caused public panic and disturbed social order. The acts violated China's Criminal Law and should be harshly punished accordingly, Wang told reporters. A court in Urumqi said three Uygurs were given jail terms ranging from seven to 15 years Saturday over syringe stabbings or threatening to use needle attacks for robbery. Wang added that more police and armed police forces would patrol on the city's streets and those who offer tip-offs for needle attackers would receive rewards. He also urged the attackers to surrender to the police, saying those who surrender or report others' crimes could receive lighter punishment.
NEW YORK, Sept. 21 (Xinhua) -- Chinese President Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25. President Hu will attend a UN climate change summit in New York on Tuesday, address the general debate of the 64th Session of the UN General Assembly Wednesday, and participate in a Security Council summit on nuclear non-proliferation and disarmament on Thursday, said Chinese Foreign Ministry officials. In a note to heads of state and government regarding the summit, UN Secretary-General Ban Ki-moon said "the objective of the Summit on Climate Change, which I am convening on Sept. 22, is to mobilize the political will and vision needed to reach an ambitious agreed outcome based on science at the UN climate change talks in Copenhagen." Chinese President Hu Jintao (Front, R) is greeted upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25"I hope that cooperation between and among developed and developing countries can be strengthened, and that the political impetus for a successful deal in Copenhagen will be made manifestly clear to all participants," he said. Tuesday's summit is convening just 10 weeks before world leaders gather in Copenhagen in December to negotiate and try to seal a treaty on climate change after the first phase of the Kyoto Protocol expires in 2012. "At the meeting, President Hu will call for stronger international efforts on climate change and introduce new measures that China is taking," China's Vice Foreign Minister He Yafei told a press briefing last week. "The president will fully elaborate on China's stance and proposals on climate change and what China is doing about it," He said. Chinese President Hu Jintao (Front, 2nd R) shakes hands with a Chinese diplomat in the United States upon his arrival at New York, the United States, on Sept. 21, 2009. Hu Jintao arrived here Monday for a UN climate change summit and other UN meetings. He will also attend a financial summit of the Group of 20 (G20) in Pittsburgh scheduled for Sept. 24-25The vice minister expressed the hope that "the summit would send a positive signal," emphasizing joint efforts to make the Copenhagen conference a success. During the general debate of the UN General Assembly Wednesday, Hu is expected to elaborate on China's stand on major global and regional issues. In his speech, President Hu will outline China's ideas about how to safeguard world peace, boost common development, promote mutual benefit and seek harmonious co-existence, said Chinese Foreign Ministry officials. On Thursday, President Hu will attend a special session of the UN Security Council on nuclear non-proliferation and disarmament, which is proposed and chaired by U.S. President Barack Obama "The session will focus on nuclear non-proliferation and nuclear disarmament broadly, and not on any particular countries," U.S. Ambassador to the UN Susan Rice said on Sept. 2. Chinese diplomats said that President Hu will elaborate on China's ideas of realizing common security through a win-win approach to mutual benefits. Hu will put forward China's propositions on nuclear non-proliferation and disarmament, peaceful use of nuclear power, nuclear security and other issues concerning the international community, they said. Following the UN meetings, President Hu will fly to Pittsburgh for the G20 summit. At the summit, Hu and leaders of other G20 members will review the progress made since the Washington and London summits and discuss further actions to assure a sound and sustainable recovery from the global financial and economic crisis. "The Pittsburgh summit is an important opportunity to continue the hard work that we have done in confronting the global economic crisis, and renewing prosperity for our people," Obama said on Sept. 8. "Together, we will review the progress we have made, assess what more needs to be done, and discuss what we can do together to lay the groundwork for balanced and sustainable economic growth," he added. The Pittsburgh summit is the third since the ones in Washington last November and in London in April this year. The G20 was formally established in 1999 to bring together major industrialized and developing economies to discuss key issues in the global economy. The G20 consists of China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States, and the European Union. China expects the summit to achieve positive results in macroeconomic policy coordination, reform of international financial organization, development and measures against protectionism, said Chinese Vice Foreign Minister He.
BEIJING, Aug.3-- China's steel industry association said on Friday that it plans this year to unify the spot and long-contract prices for the country's iron ore imports. It will also set a ceiling for charges levied by import trading firms, as part of an effort to regulate the market. The proposal was the top item of discussion at the steel industry body's two-day semiannual meeting, said Luo Bingsheng, deputy chairman of the China Iron and Steel Association (CISA), at a press conference. The term prices negotiated with global miners should become a benchmark unified price, and the import agencies could charge 3-5 percent in commission on top of the term prices, Luo said. The move aims to regulate excess iron ore import by steel makers and trading firms, which distorted the supply and demand balance and disrupted the annual contract talks, Luo said. The price talks, which are continuing, appeared to be snagged on China's insistence upon bigger reductions than the 33 percent cut agreed to earlier with Japanese and Korean steel mills. News reports and industry analysts say China wants a 40 percent price cut. Luo said foreign iron ore suppliers promoted massive sales on the spot market, leading to huge stockpiles. Spot iron ore accounted for 82.7 percent of imports this year, leading to excessive imports that far exceed actual needs, the CISA said. Luo made the remark as the spot price of iron ore in China surged above the contract prices offered by three large miners - Rio, BHP and Vale. Benchmark spot prices of iron ore in China rose above 0 a ton on Thursday, as compared with a ton in April, according to industry consultant Mysteel. Iron ore imports rose 29.3 percent year on year, to 297 million tons, in the first half of this year, while traders imported 131 million tons, up 90.4 percent from last year. There are 152 iron ore importers in China this year, exceeding the 112 licenses that CISA issued, the association said. Luo said the annual talks were ongoing and CISA would keep working to push them forward. "We are working for a reasonable result and hope to reach a win-win situation," Luo said. "For small steel companies, a unified price system is definitely good news," said Fan Haibo, a steel analyst from Xinda Securities. "Large steel mills and trading companies have made huge profits by selling iron ore to small steel factories who do not hold import license." "But how to define which firms have 'agent license' seems essential. Giving them the privilege is akin to guaranteeing a business always makes a profit," he said.
JINAN, Oct. 19 (Xinhua) -- Chinese President Hu Jintao has urged the country's companies to reduce operation costs by speeding up the development of renewable energy and help improve the country's energy structure. "Developing renewable energy vigorously is necessary for taking up the front line in the new round of global energy revolution," said Hu while visiting a wind energy project besides the Bohai Sea during his inspection tour in Shandong Province from Oct. 16 to 19. The project, when finished, will produce more than 95 million kw of electricity every year and will play an important part in improving the local energy structure.Chinese President Hu Jintao (2nd R), who is also general secretary of the Central Committee of the Communist Party of China and chairman of the Central Military Commission, shakes hands with workers as he inspects a wind power project in east China's Shandong Province, Oct. 18, 2009. Hu Jintao made an inspection tour in Shandong Province from Oct. 16 to 19 After attending the opening ceremony of the 11th Chinese National Games in Jinan, capital city of Shandong, Hu inspected the province on local economic development and Communist Party building. Hu called upon companies to focus on technical innovation and scientific management to improve their sustainable development. Chinese President Hu Jintao (2nd L, front), who is also general secretary of the Central Committee of the Communist Party of China and chairman of the Central Military Commission, talks to staff members of Shengli oil field, in east China's Shandong Province, Oct. 18, 2009. Hu Jintao made an inspection tour in Shandong Province from Oct. 16 to 19. While visiting the country's large oil base Shengli Oilfield, Hu climbed onto a well drilling platform to meet with the workers. He praised the workers for their hard work and outstanding professional skills. During an inspection in a paper making company, Hu asked about the methods for emission reduction and encouraged the company to continue to improve recycling economy and put more efforts in environmental protection. Hu also visited a village called Liujihou in the city of Dongying. The village set up its Communist Party branch in 1925 --one of the four oldest Party branches in the province. Hu urged Party members in the village to seek benefits for villagers, solve their problems and encourage them to develop modern agriculture in a scientific way.
BEIJING, July 29 -- The securities watchdog is mulling further measures to plug the loopholes that showed up in the latest round of initial public offerings (IPO), according to Shang Fulin, chairman, China Securities Regulatory Commission (CSRC). The CSRC is generally satisfied with the results of the recent reforms, but also identified a number of areas that need to be improved. One of these areas is the lack of a provision to block institutional investors from taking advantage of the new allotment system by masquerading as personal investors in their IPO applications. "Some institutional investors were known to have circumvented the subscription limits on their accounts by making applications through personal investor accounts opened with borrowed ID cards," said Lu Junlong, analyst, China Finance Online. "Stockbrokers keen on earning commission fees usually turn a blind eye to such irregularities," he said. People watch the index screen at a stock market in Shanghai, China, July 1, 2009. The CSRC said it is planning to take steps to safeguard individual investors' interests. This has defeated, to some extent, the primary objective of the reform, of increasing the allotment of new shares to personal investors. In the past, the deluge of applications from well-financed institutional investors had largely crowded out applications from individual investors. Because of the loophole, the ratios of allocation of newly issued shares to personal investors in the past several IPOs were still deemed too low. For example, the ratio of allocation in the IPOs of Guilin Sanjin Pharmaceutical, one of the first companies to obtain a stock exchange listing after the lifting of the IPO suspension, was only 0.17 percent. The ratio of allocation in the Sichuan Expressway IPO was 0.26 percent, while it was 2.83 percent for China State Construction Engineering Corp's public float. "The ratio of allocation to subscription is at a low level, similar to the lottery system in the past," said Zhu Hongbin, an investor with over 10-year experience in the market. Considering the wide price gap between the primary and secondary markets, many institutional investors borrowed heavily from banks to subscribe for new shares. Easy credit and cheap money have given institutional investors a much greater edge over small investors in the fight for IPO allotments. "As long as the interbank seven-day repurchase rate stays below 3 to 4 percent, we can make profits by subscribing to new shares," a Shanghai-based fund manger said, who refused to be named. The investors' feverish penchant for newly listed stocks saw Sichuan Expressway Co soar 202 percent on debut. The bourse suspended trading in the scrip for two times to allow for a cooling off period on the first day. The company's issue price was 3.6 yuan, nearly 20 times the PE (price-to-earnings) ratio. After collective bidding, the opening price soared to 7.6 yuan and the shares finally closed at 10.9 yuan after touching a high of over 15 yuan. The high price was beyond the expectation of many analysts. According the reports from 23 securities firms, most analysts thought the reasonable price could be around 5 yuan. Guotai Junan Securities Co was the most optimistic, which estimated the shares could be worth around 7 yuan. The shares subsequently began to slump and closed at 9.81 yuan, with many individual investors burning their figures. According to the Shanghai Stock Exchange, individual investors were the main buyers for the new shares of Sichuan Expressway on its first trading day. Among the 74,000 accounts that bought shares on that date, about 99.9 percent was personal accounts. Institutional investors, including fund mangers, securities firms and insurance companies, did not join the speculation. According to CSRC Chairman Shang Fulin, the regulators are working on a plan to educate individual investors and also exploring effective mechanisms to protect investors' rights.