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BEIJING, Oct. 14 (Xinhua) -- The financial crisis and other major issues challenging the world will be discussed in the upcoming summit of the Asia-Europe Meeting (ASEM), according to Liu Jieyi, China's assistant foreign minister.     "The ASEM summit would be convened under the special international circumstance," said Liu at a press conference here on Tuesday.     He added the financial situation was in turbulence and the three major challenges, including food safety, climate change and energy issues, were interwoven.     Under the theme of dialogue, cooperation, mutual benefit and common prosperity, the summit would touch upon these issues.     The seventh ASEM summit will be held in Beijing from Oct. 24 to25. At present, most foreign members had confirmed their attendance.     Liu said all members would focus on disaster-relief cooperation, the promotion of trade and investment, sustainable development and strengthening dialogue.     Chinese President Hu Jintao will attend the meeting and Premier Wen Jiabao will preside over the meetings and a welcoming banquet.     Leaders from four coordinators, including China, the EU commission, Brunei and France, would hold a joint press conference after the summit, Liu said, adding several bilateral meetings would also be held.     "A chairman's statement is expected to be passed to reflect all members' stance on the major issues, outlining the key areas of cooperation in the future."     Other documents will also be passed to improve the substantial cooperation on three major areas, including political, economic cooperation as well as social and cultural exchange.     "This is another important event for China after the Beijing Olympic Games," Liu said.     The 45-member ASEM, established in 1996, is a high-level forum between governments of Asia and Europe. It aims at creating better conditions for cooperation between the two continents through strengthening dialogue and mutual u

BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened.     The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October.     In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day.     Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen.     Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said.     Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001.     The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said.     Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said.     Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low.     In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan.     Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said.     Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan.     China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday.     If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.

BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence.     The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50.     The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row    Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars).     Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge.     China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months.     Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year.     Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation.     The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.

BEIJING, Oct. 14 (Xinhua) -- China on Tuesday reaffirmed its resolve to keep its economy on track amid the global financial turmoil.     In a meeting with visiting U.S. Senator Chuck Hagel, Vice Premier Wang Qishan said the financial crisis, triggered by the U.S. credit crunch, had exerted a grave impact on the global financial market. Chinese Vice Premier Wang Qishan(R) shakes hands with visiting U.S. Senator Chuck Hagel in Beijing, capital of China, Oct. 14, 2008 "As a responsible country, China has always valued the communication and cooperation with other nations to ensure world financial and economic stability."     Wang said China would make great efforts to keep its economy on the right track, which would be the country's greatest contribution to the world.     China had implemented and would continue measures to ensure the stability of finance, economy and the capital market, he said, referring to a package of new policies to spur economic growth.     The central bank cut interest rates on Sept. 15 for the first time in six years.     The People's Bank of China, the central bank, announced the deposit and lending rates would be lowered by 0.27 percentage points and the reserve-requirement ratio would be reduced 0.5 percentage points starting Oct. 15.     "With tools at our disposal, we are confident and capable of prevailing over the overall difficulties and challenges," Wang told Hagel.     He added the overall bilateral relations of the two countries had moved forward and become increasingly interdependent since forging diplomatic ties in 1979.     To promote China-U.S. ties was in the fundamental interests of the two nations, he said.     Wang proposed the two deepen a strategic trust and take a candid and pragmatic approach in addressing differences. They should work more closely on economy, trade, investment, energy, environment and high-tech.     He also urged the United States to observe the three joint communiques, refrain from anything harmful to bilateral ties and the stability of the Taiwan Straits, so as to ensure the sound and steady progress of bilateral constructive cooperation.     As all nations were becoming more connected, Hagel, a Republican senator from Nebraska, said the stronger cooperation between the United States and China would help ensure world financial and economic stability.

MIANYANG, Sichuan, May 22 (Xinhua) -- Ten days after the devastating earthquake in southwest China, six days after he returned to Beijing, Premier Wen Jiabao was back on the front lines of quake relief.     He flew to Mianyang in Sichuan Province, one of the worst hit cities, on Thursday afternoon. Upon arrival, he conducted a fly-over inspection by helicopter of a "quake lake," which is formed by landslides that block rivers.     People would have found him on the same tight schedule early this year as Wen visited the regions hit by the worst winter weather in 50 years four times in nine days.     The Hong Kong-based daily Ta Kung Pao said in a commentary: "Chinese premiers have developed an image of being caring and conscientious since late Zhou Enlai, the first premier of the People's Republic of China."     When a 6.8-magnitude earthquake rocked Xingtai, in the northern Hebei Province in 1966, Zhou rushed to the region and oversaw relief work, risking aftershocks, Du Xiuxian, a photographer of Zhou's era, recalled in his published photographic memoir "The Last Legends."     Wen has inherited that tradition of Chinese premiership. Chinese Premier Wen Jiabao (C) talks to local officials in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work. Two hours after the quake rocked Wenchuan County in the northwestern mountainous region of Sichuan Province, he was in theair.     As a large part of the country felt the tremors and experienced great shock, Wen promised the country in front of China Central Television (CCTV) camera that the government would lead the people to win the battle against the earthquake.     "Confronted with the disaster, we need composure, confidence, courage and an effective command," he said with a sober and steadfast attitude.     During the next four days, Wen set foot in almost all of the worst-hit counties, walking over rocks and tiles, comforting weeping children and encouraging rescuers.     He made it very clear that the top task at the initial stage was to save lives, and he pressed officials and troops very hard to implement rescue work.     Back in Beijing on May 16, Wen did not relax but hosted several key meetings on rescue and relief work.     Observers found that he has presided over at least 13 high-level meetings since the quake.     At these meetings, the topics under discussion ranged from big issues such as the top priorities of the relief task force to tiny details like milk powder for infants.     He stressed prevention of epidemics and handling of victims' corpses, told an expert team to give scientific and technical support to rescue and relief work, and worked out solutions to homeless survivors' problems.     While guidelines were set for relief work, detailed orders were made as well, such as to send 6,000 temporary houses within two days and order rescue teams to reach all remote quake-hit villages within 24 hours. Chinese Premier Wen Jiabao (R) shakes hands with a soldier in Beichuan, southwest China's Sichuan Province, on May 22, 2008. Wen Jiabao made his second trip to the quake-battered zone on Thursday afternoon to oversee disaster relief work.Rehabilitation was also discussed and a directive was issued to fully consider the geological conditions and bearing capability of the local environment so as to balance cities and rural areas, industry and agriculture.     The focus has shifted from rescue to rehabilitation of quake survivors and their communities, he said Thursday while en route to Sichuan. The latter "will be a harder and long-term task," he said.     Chinese are captivated by what the premier has done.     Chen Hui, a middle-aged mother in Chongqing Municipality near Sichuan that was also affected by the quake, participated in a text message prayer campaign for Wen.     She sent a text message to her son in Beijing, saying: "The 66-year-old Premier Wen has worked really hard for quake relief. He has comforted and moved us. Pass this on your friends, pray for him."     Chen received the message from a friend. The campaign, whose organizer is unknown, aims to collect 1 million prayer text messages.     A compilation of scenes of Wen's visit to Sichuan is popular on-line and Netizens have created a forum called "Premier Wen, we love you."     "As one of China's senior leaders, the premier not only manages the government's daily work but also displays the ruling party's ideals and principles personally," Ta Kung Pao said. "A premier of China can not be copied elsewhere."