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BEIJING, Feb. 26 (Xinhua) -- Chinese share prices registered a dramatic 3.87 percent drop Thursday as investor confidence collapsed ahead of the wary market performance and caused panic selling, analysts said.     The decline on overseas markets also had a negative effect.     The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher after the government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2,121.52 points in the afternoon session.     The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.90 points, down 463.76 points, or 5.63 percent.     Total turnover was 198.52 billion yuan (29.07 billion U.S. dollars), down from 209.05 billion yuan on Wednesday.     Losers led gainers by 841 to 34 in Shanghai and 719 to 36 in Shenzhen.     The weak performance of both the Wall Street and Hong Kong shares had cast a shadow over the mainland market, said analysts.     The financial sector, which led a market rebound Wednesday, failed to support the market in afternoon trading as it dipped 4.76 percent.     Shenzhen Development Bank, which almost fell by the 10-percent daily limit, ended up with an 8.91 percent drop to 13.8 yuan.     China Merchants Bank, which rose by 9.57 percent Wednesday, slipped4.36 percent to 14.27 yuan.     Machinery, automobiles, media and semiconductor sectors led the retreat, dropping 7.88 percent, 7.54 percent, 7.68 percent and 7.79 percent, respectively.     Non-ferrous metals also fell by 7.54 percent though the government announced a stimulus package for the industry Wednesday.     Chenzhou Mining, Corun New Energy, Tibet Mining, Advanced Technology and Materials, Western Metal Material, Sichuan Hongda and Xiamen Tungsten fell by the 10-percent daily limit.     Yongan Forestry bucked the trend, rising by the 10-percent daily limit. The forestry sector managed to close at no more than a 2 percent decline, as domestic media reported a government stimulus plan for forestry was under discussion.     China Eastern Airlines, one of the country's top three airlines, announced Thursday that its shareholders had passed a share placement plan which intended to raise 7 billion yuan from its parent company, China Eastern Group.     The company will issue 1.44 billion Shanghai-listed A shares at a price of 3.87 yuan per share, as well as 1.44 billion Hong Kong-listed H shares at 1.00 yuan each, according to the announcement.     The fund would reduce the company's asset liability ratio and improve its financial situation, said the company.     China Eastern Airlines shares were suspended Thursday.     Hong Kong shares dipped 0.85 percent to 12,894.94 points Thursday, while U.S. stocks fell Wednesday. The Dow Jones industrial average was down 80.05 points, or 1.09 percent, at 7,270.89. The Standard & Poor's 500 Index dropped 8.24 points, or 1.07 percent, to 764.90. The Nasdaq Composite Index dropped 16.40 points, or 1.14 percent, to 1,425.43.

BEIJING, April 2 (Xinhua) -- Chinese Vice Premier Zhang Dejiang Thursday warned the need to find jobs for college graduates was "crucial".     "The employment situation of college graduates remains grave," he told a video conference held by the State Council, the Cabinet.     More than 6 million college students were leaving school in just three months and the employment rate was generally lower than previous years, Zhang said without elaborating.     China has 6.11 million college students due to graduate this year, and 1 million from last year are still looking for jobs, according to the Ministry of Human Resources and Social Security.     Graduates are having a hard time finding jobs this year as posts are being axed due to the economic slowdown.     Zhang urged government organs, government-sponsored institutions, and state-owned enterprises to hire as many people as last year, and small and medium-sized and private companies to employ college graduates.     The State Council unveiled in February a series of measures to boost employment of college graduates, calling on them to be more flexible.     The measures included encouraging graduates to work in rural areas, in grassroots urban communities, and in smaller enterprises, asking research institutions to recruit graduates, and stepping up support for graduates starting up their own businesses.     Zhang asked local government departments to work out detailed and feasible measures and make efforts to publicize the measures this month.     Government departments and higher learning institutions should provide comprehensive services to graduates by offering advice, giving aid to the poor, and maintaining a sound employment market, he said.

BEIJING, April 10 (Xinhua) -- China unveiled Friday an investment guide book to help domestic firms make foreign investments.     The first batch of the guide book released Friday by the Ministry of Commerce covers 20 countries, such as Pakistan, Thailand, Malaysia and Japan.     The guide book includes investment laws and regulations of the 20 countries and statistics about individual countries among other useful information such as advice on problems that firms may encounter.     The ministry said it would unveil more of the guide book to cover as many as 160 countries and regions by the end of June, and it would update the guideline.     "It can be a good time now for Chinese firms to invest overseas," said Li Ruogu, president of the Export-Import Bank of China (China Exim), "as banks have been instructed to support overseas mergers and acquisitions of Chinese firms."     He said Chinese firms should increase their investment in developing countries such as Mongolia and those in Africa, Southeast Asia and Latin America.     Li said such investment could be mutually beneficial for China and investment-receiving countries.     He said investment-receiving countries could expect a boost to the economy with the combination of China's capital and local resources.     Large overseas investment and aid programs of Chinese firms may also boost imports from China and create more employment for Chinese labor, therefore contribute to China's economic growth as well, he added.     He argued that such investment of domestic firms could be supplementary to the country's other plans to stimulate the economy.     China announced a four-trillion-yuan stimulus package aimed at expanding domestic consumption after the financial crisis slashed overseas demand, in a bid to shift its heavy reliance on exports.     Keen to contain the falling exports, the government had also taken various measures, including raising export rebates six times since August last year, to save the failing sector. Figures released Friday showed China's exports continued to fall in March, for the fifth month in a row, but at a slower pace.     Li said encouraging domestic firms to invest overseas could be another option, when the financial crisis is yet to bottom out and it will take some time before domestic demand could take off.     "It's definitely the right choice to rely more on domestic consumption for growth in a country with a 1.3 billion population, which has great market potential," he said, adding that heavy reliance would be unsustainable.     The World Trade Organization has predicted a 9-percent decline in global trade this year, the sharpest drop since World War II.     "But there is a long way to go before domestic consumption will be able to fuel economic growth."     "The country's overall purchasing capacity is not powerful enough yet," he said. China's per capita income of urban residents stood at 15,781 yuan (2,321 U.S. dollars) in 2008, with that of the rural population at 4,761 yuan.

BEIJING, Feb. 25 (Xinhua) -- Senior members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) met Wednesday to discuss the agenda of the annual conference in March.     Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, presided over the meeting of the Standing Committee of the 11th CPPCC National Committee. The fourth meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) is held in Beijing, capital of China, Feb. 25, 2009During the three-day meeting, the senior political advisors will set an agenda for the Second Session of the 11th CPPCC National Committee, discuss and approve a work report of the Standing Committee of the CPPCC National Committee, and study a report on the handling of proposals put forward by CPPCC members at last year's annual meeting.     The CPPCC reflects China's "multi-party cooperation system" under the leadership of the CPC.     The CPPCC committees at different levels have representatives from different political groups, ethnic groups, and people of all walks of life.

BEIJING, March 6 (Xinhua)-- China has named its first home-made jumbo jet C919, which will take off in around eight years, its chief designer Wu Guanghui said on Friday.     "C represents China as well as COMAC, the abbreviation for Commercial Aircraft Corporation of China, Ltd," said Wu, who is also the deputy general manager of COMAC, the manufacturer of C919.     "The name also reflects our determination to compete in the international market for jumbo jet. C919 comes after Airbus and Boeing, so you will have ABC in the aviation industry," said Wu, apolitical advisor who is here attending the annual session of 11thNational Committee of the Chinese People's Political Consultative Conference.     The first 9 in the name implies forever in Chinese culture, while 19 means the first jumbo jet produced by China will have 190seats, he said.     Wu said that his company will choose suppliers of engines, airborne equipment, and materials through international bidding, and will encourage foreign suppliers to enter into partnership with Chinese manufacturers.     "We will choose foreign-manufactured products like engines at the beginning phase, but we will also independently do the research and manufacturing work at the same time," noted Wu.     The Shanghai-based COMAC was set up in May, 2008 after approval in early 2007 by the State Council, China's Cabinet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder.     Wu said the jumbo jet project now involves 47 institutions from China and abroad, and that the preliminary general technical design plan and commercial feasibility study have been completed.

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