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BEIJING, July 16 (Xinhua) -- Senior Chinese leader Li Changchun, Friday urged the Chinese automobile industry to enhance indigenous technology and foster domestic brands while visiting an auto technology show here.At the China Achievements Expo for Self-innovated Auto Technology and Products, Li Changchun said boosting innovative capacity was pivotal to economic restructuring and shifting the economic growth pattern.Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said respect for innovation and talent should be the norm.The auto show, which runs from Thursday to Monday, features more than 140 cars from 16 Chinese companies. It is the first auto show ever to feature Chinese home-made and home designed vehicles only.A fifth of the vehicles on display are either energy efficient cars or cars fueled by new energies.The auto show is co-organized by China-Europe Association for Technical and Economic Cooperation (CEATEC) and the China Automobile Dealers Association.

BEIJING, Aug. 4 (Xinhua) -- China continued a five-day military exercise on Wednesday as the country's air defense forces carried out reconnaissance, early warning, electromagnetic interference and ground-to-air attack drills.More than 12,000 Chinese military personnel, along with seven types of military aircraft divided into Red and Blue rivals, took part in the exercise code-named "Vanguard-2010,"-- which started on Tuesday in seven cities across Henan and Shandong Provinces.On Wednesday morning, the Blue forces used reconnaissance planes and electronics warfare aircraft to conduct surveillance and jam the network systems used by the Red forces for command and communications as well as reconnaissance and early warning.A ground-to-air attack drill began at Wednesday noon, as the Blue forces launched unmanned aerial vehicles, fighters and helicopters to attack their rivals.The ground-to-air attack drill will last overnight till 6 a.m. Thursday, military sources said.

BEIJING, Aug. 12 (Xinhua) -- Urban residents who expect home prices to fall in first-tier Chinese cities in the second quarter outnumber those who anticipate further price hikes, according to a report by the China Economic Monitoring and Analysis Center released here Thursday.About 41 percent of those surveyed in the second quarter expected house prices to fall in popular first-tier cities like Beijing, Shanghai, Guangzhou and Shenzhen -- 18 percentage points higher than the proportion in the first quarter, according to the center which is under the National Bureau of Statistics.Meanwhile, only 36 percent of those surveyed in the second quarter anticipated house prices to continue to rise in those first-tier cities -- 24 basis points lower than the first quarter.In the second quarter, more people are expecting house prices to decline in cities at various levels, even as the proportions vary in different cities, according to the report.About 30 percent of consumers in provincial capital cities anticipated home prices to weaken in the second quarter, compared with 15 percent in the first quarter.In other small- and medium-sized cities, 28 percent of consumers surveyed foresaw house price falling in the future, up more than 11 basis points from the first quarter."The result show government measures to tighten the housing market since mid April have begun to have an effect on urban consumers' expectations," said Pan Jiancheng, deputy director of the China Economic Monitoring and Analysis Center.In spite of the rising proportions, the number of those who anticipated house price declines, however, still fell short of those who expected further price hikes in cities, except for consumers in the first-tier cities, according to the report.Housing prices in major Chinese cities rose 10.3 percent year on year in July, compared with 11.4 percent growth in June, according to NBS data released Tuesday.Property prices in 70 large and medium-sized cities grew 12.4 percent in May and 12.8 percent in April, the highest growth rate since July 2005 when the government started publishing the data.

BEIJING, June 19 (Xinhua) -- Total value of China's lottery sales hit 63.16 billion yuan (9.26 billion U.S. dollars) in the first five months this year, up 22.8 percent over the same period last year, the country's Ministry of Finance said Saturday.Welfare lottery sales reached 36.73 billion yuan during the same period, a year-on-year increase of 25.9 percent; sales of sports lotterieshit 26.44 billion yuan, up 18.8 percent.In May alone, sales value reached 14.44 billion yuan, up 18.7 percent year on year, a statement on the Ministry's website said.

BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.