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BEIJING, Dec. 27 (Xinhua) -- Chinese stocks weakened Monday after the nation's central bank hiked rates on Saturday and amid speculation further monetary policy tightening to combat inflation is in the offing.The benchmark Shanghai Composite Index fell 1.9 percent, or 53.76 points, to finish at 2,781.4, following the central bank's decision to raise the benchmark one-year lending and deposit interests rate by 0.25 percentage points, its second rate hike in just over two months.The Shenzhen Component Index fell 2.02 percent, or 253.66 points, to end at 12,303.19 points.Combined turnover increased to 224.44 billion yuan (33.85 billion U.S. dollars) from 185.28 billion yuan the previous trading day.An investor watches a screen at a stock trading hall in Shanghai, Dec. 27, 2010. China's stock market dropped Monday. The benchmark Shanghai Composite Index lost 1.90 percent, closed at 2,781.40. The Shenzhen Component Index dropped 2.02 percent, closed at 12,303.19.Losers outnumbered gainers 834 to 76 in Shanghai and 1,125 to 89 in Shenzhen.China's consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent year on year in November.Besides hiking rates, China's central bank has increased banks' reserve requirement ratio six times this year, taking it to 19 percent for some banks.Shares of property developers dropped. China Vanke, the nation's largest real estate developer, lost 2.89 percent to 8.75 yuan. China Everbright Bank fell 3.7 percent to 3.91 yuan. PetroChina, China's biggest oil producer, declined 2.28 percent to 11.16 yuan.Coal producer shares gained 1.74 percent amid gains in international crude oil prices.China Shenhua Energy Co., China's biggest coal producer, climbed 0.02 percent to 25.05 yuan.

BEIJING, Nov. 25 (Xinhua) -- China on Thursday again called on the relevant parties to make joint efforts to safeguard peace and stability of the Korean Peninsula.Foreign Ministry spokesman Hong Lei made the remarks at a regular press briefing.The Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK) exchanged artillery fire Tuesday in waters off the west coast of the Korean Peninsula, leaving four people dead.Hong initially expressed China's stance Wednesday with regard to the exchange of fire between the ROK and the DPRK.On Thursday, Hong again called on parties involved to stay calm and exercise restraint, and urged the ROK and DPRK to engage in dialogue and refrain from similar actions.China has always maintained that the relevant parties resolve disputes through negotiations and by peaceful means and be committed to safeguarding peace and stability in the Korean Peninsula, Hong said.China opposed any acts that harmed the peace and stability of the Korean Peninsula, he went on."It is very urgent and important to restart the six-party talks at the current stage," Hong said, adding China had maintained close contact with all the parties involved, including the United States.He said China hoped parties involved could make concerted efforts to properly handle their concerns through talks and consultation within the framework of the six-party talks, which involved China, the DPRK, the United States, the ROK, Russia and Japan.China would like to make concerted efforts with all parties to help ease tension, seek peace and stability in the Korean Peninsula, Hong said.With respect to the planned joint military drill between the United States and the ROK in waters off the west coast of the Korean Peninsula from Nov.28 to Dec. 1, Hong said China was concerned."China holds a consistent and clear stance on the issue," Hong said without elaborating.

BEIJING, Jan. 6 (Xinhua) -- Chinese Vice President Xi Jinping Wednesday urged officials to pay more grassroots visits to listen to opinions from the masses and take more practical actions in people's interests.Xi, president of the Party School of the Communist Party of China (CPC) Central Committee, made the remarks while talking to officials studying at the school.Stressing efforts to forge closer relations between the CPC and the masses, Xi, also a Standing Committee member of the Political Bureau of the CPC Central Committee, said officials should always think like the masses and devote themselves to the work for the public's good.He also called on officials to spare no efforts in eliminating public grievances and safeguarding people's interests, as well as calling for more cordiality in handling work concerning the masses.Further, he encouraged CPC officials to step up learning, especially of socialist theories with Chinese characteristics and always learn more about the latest achievements in combining Marxism with China's reality.

NANJING, Dec. 31 (Xinhua) -- A court in east China's Jiangsu Province sentenced a man to death and another to life in prison Friday for illegally raising up to 4 billion yuan (606 million U.S. dollars) in a fraudulent investment scheme.Another 11 suspects were given jail terms ranging from two-and-a-half to 10 years for collusion in the fraud, which caused losses of 650 million yuan (98 million dollars) to 14,822 investors, the Intermediate People's Court in the provincial capital, Nanjing, said in a statement.According to the statement, Sun Haiyu and Hu Zhen jointly set up a company, Nanjing Runzai Biology Co., Ltd. in January 2004 and began soliciting investments from the public in the name of planting glossy ganoderma, or reishi mushrooms, which are widely used in traditional Chinese medicine.The judge said the company exaggerated its profits in planting glossy ganoderma and fraudulently claimed that the investment was risk free.The duo, together with 11 accomplices, raised more than 4 billion yuan from April 2004 to July 2008.Sun was sentenced to death for the crime of illegal fund-raising by fraudulent means, while Hu was sentenced to life imprisonment.

BEIJING, Jan. 18 (Xinhua) -- China on Wednesday will begin its annual Spring Festival travel rush, with an expected 2.56 billion passenger trips in the coming 40 days.Airlines and trains have been added to cope with the passenger surge, which is 11.6 percent up year on year, according to the Ministry of Transport.The airport in Harbin, capital of northeast China's Heilongjiang Province, announced Tuesday it would add another 252 flights for the travel peak period.The capacity of airlines in the Inner Mongolia Autonomous Region will be raised 30 percent.In southwest China's Chongqing Municipality, a major hometown to migrant workers, 12 flights with 5,100 seats will be added between Chongqing and Guangzhou, capital of south China's Guangdong Province.Except for the temporary trains, more high-speed trains have been put into operation for the Spring Festival.The high-speed train will be increased to 88 pairs this year, 55 more than last year's 33 pairs in Wuhan, capital of central China's Hubei Province, which largely eased the difficulties of buying tickets for passengers.Snow and sleet has struck five provincial level regions, including Hunan, Guangxi, Chongqing, Guizhou and Yunnan since Monday, disrupting transportation networks.The Ministry of Public Security Tuesday ordered police in the five hard-hit areas to go all out to keep traffic flowing and make sure no expressways were shut down due to slippery roads.Police in the five localities were ordered to clean snow and ice on the roads and store emergency response materials, such as snow blowers, and maintain control of the flow of vehicles heading to the hardest-hit Guizhou province."Snow and ice will bring great difficulties to transportation," said Weng Mengyong, vice minister of the Ministry of Transport (MOT).Five aspects of work, including anti-ice preparation, information release, monitoring network, emergency reaction and cooperation with public security bureaus, had been arranged ahead of the travel peak, Weng said.In early 2008, freezing weather across southern China caused power cuts and transportation chaos, preventing many residents from going home for family reunions during China's lunar new year.Other new services are also being supplied as the pressure of transportation is increasing this year.The Wuhan Railway Administration started ticket delivery services for migrant workers this year and about 3 million tickets will be delivered.In south China's Guangxi Zhuang Autonomous Region, the Nanjing Railway Administration opened micro-blogs on Sina.com and QQ.com to offer railway transportation information.In the next 40 days, not only passengers, but also railway crews, will face great challenges."Patrolling is like a sauna to me," said railway police Zhao Hongye in Lanzhou, capital of northwest China's Gansu Province."It is too crowded. The 18 carriages are only 450 meters long, but it takes me at least two hours to go though," Zhao said."It is the homesickness which makes the huge migration," said Li Jiwei, a college student in Lanzhou, who had been counting the hours to get on his train home."It's only 10 hours left," he said. "I cannot wait to go home. The warm of home can offset all the difficulties on the journey," he said."There is no Spring Festival if you are not at home," said Zhou Changnong, a migrant worker, heading from Xining, capital of southwest China's Qinghai Province, to his home town in central China's Hunan Province.