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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.
HUZHONG, Heilongjiang, July 1 (Xinhua) -- More than 20,000 firemen are battling lighting-triggered forest fires in northeast China as continuous hot weather undermines their efforts, forest fire prevention authorities said.The fire, spotted Saturday, continued to spread Wednesday due to high temperatures after having weakened overnight, said Sun Zhagen, deputy director of China's National Forest Fire Prevention Headquarters.The forest fire first occurred in a part of the Greater Hinggan Mountains in Inner Mongolia Autonomous Region and then extended to the neighboring Heilongjiang Province.Rescuers were still struggling to put out the fire at more than 30 sites in the two regions, said a spokesman with the fire fighting headquarters at Huzhong, a major fire site.Further, another 6,000 fire fighters and additional equipment would be sent to control the fire in Heilongjiang, said the spokesman."As it is too hot to get close to the scene to put out the fire, we have to build fire barriers during the day and battle the blaze at night," said Pang Zhiqiang, a forest policeman.Sparks are being buried under the burnt debris of wood, often as deep as 30 cm and easily set on fire again by wind, said rescuers at Huzhong District."We felt thirsty, dizzy and had trouble breathing after staying in the burnt forest for just 10 minutes", one fireman said.Each of the rescuers, carrying about 25 kg of equipment on his back, could only carry four bottles of drinking water, a rescuer with the Heilongjiang forestry police force told a Xinhua reporter. "If the bottle water is not enough, we drink the river water, though there are worms in it."Some thirsty fire fighters said they even dug into the ground and breathed in the moisture. Also, many rescuers have become exhausted after remaining awake and working for four days.Temperatures in the Greater Hinggan Mountains Region have been hovering over 37 degrees Celsius recently and seven counties and districts have witnessed record-high temperatures, said Na Jihai, chief of the Heilongjiang Provincial Meteorological Bureau.Temperatures in Huzhong District hit 39.7 degrees Celsius Saturday, Na said.Fire-control experts in Inner Mongolia also said such an extremely-hot weather was rarely seen over the past six decades.The two regions have dispatched three aircraft and 10 cloud seeding rockets to conduct artificial precipitation operations, according to local meteorological departments.The dry and hot weather will continue for the next three days, but a light rain is forecast for Thursday, according to the National Meteorological Center of China Meteorological Administration."This is a battle between human beings and nature. We have to work hard to win," Sun Zhagen said.
BEIJING, July 23 (Xinhua) - Chinese Vice Premier Li Keqiang, on Friday, called for greater efforts to develop and put into use advanced energy technologies as a means of boosting energy conservation and efficiency, and to fuel the country' s sustainable social and economic growth.Li made the remarks when meeting with prize winners awarded for their contributions to China' s energy science and technology advancements here in Beijing.Energy security was key to China' s ongoing urbanization and industrialization, and to the steady and relatively quick long-term economic development of the country, Li said.Chinese Vice Premier Li Keqiang meets with prize winners awarded for their contributions to China's energy science and technology advancements in Beijing on July 23, 2010. Li called for greater efforts to develop and put into use advanced energy technologies as a means of boosting energy conservation and efficiency, and to fuel the country's sustainable social and economic growth on Friday.He urged authorities to focus on energy conservation and environmental protection, enhance China' s energy technology innovation capabilities, optimize energy structures, and establish a modern energy industrial system.Energy use efficiency should also be improved, he said.Noting the rapid development in energy technologies and their large potential markets, the Vice Premier said the country should promote nuclear energy construction while ensuring its safety, and should develop hydro, wind, solar and biomass power in an orderly manner.Efforts should be made to put new technologies into use, and to cultivate innovative capabilities to assure breakthroughs occur in energy sciences and in new technologies, he said.
BEIJING, June 12 (Xinhua)-- The amount of foreign direct investment (FDI) into China in May rose by 27.48 percent year on year to 8.13 billion U.S. dollars, said Yao Jian, spokesman of the Ministry of Commerce (MOC), Saturday.The figure brought the country's FDI to 38.92 billion U.S. dollars in the first five months, an increase of 14.31 percent from a year earlier.Yao said that in the first five months, FDI mainly flowed into the manufacturing sector, accounting for 47.32 percent of the total, despite a fall of 3.85 percent in the amount.The service sector saw actual inflow of the FDI up 32.05 percent from a year earlier, while FDI in the primary sector, including farming, fishery and forestry, rose 85.49 percent year on year, which accounted for 1.63 percent of the total FDI in the first five months.China approved the establishment of 9,638 overseas-funded ventures in the first five months, up 22.15 percent from the same period of last year.In May alone, the government approved 2,132 such companies, representing a year-on-year increase of 29.29 percent.
BEIJING, June 28 (Xinhua) -- Chinese Vice Premier Li Keqiang met with Swiss Foreign Minister Micheline Calmy-Rey on Monday, calling for enhanced exchanges and contacts between the two countries.This year marks the 60th anniversary of China-Switzerland diplomatic ties. Li said the two countries had witnessed smooth progress of bilateral ties over the past 60 years and carried out substantial cooperation in the areas including economy, trade and technology.He suggested to further develop bilateral friendly cooperative ties on the basis of mutual respect, equality, mutual benefit and seeking common ground while putting aside difference.Because the world is undergoing profound and complex changes with global challenges on the rise, the two countries share the responsibility and aspiration to maintain world peace and development, said the vice premier.Chinese Vice Premier Li Keqiang (R) shakes hands with Swiss Foreign Minister Micheline Calmy-Rey during their meeting in Beijing, capital of China, on June 28, 2010."China appreciates Switzerland's positive role at the global stage, and hopes to enhance contacts with the country to jointly contribute to world peace, development and cooperation," Li said.Calmy-Rey said her country highly valued its relations with China and hoped to further strengthen bilateral exchanges in various areas and at all levels.Calmy-Rey is on a three-day working visit to China with a focus on the celebration of the 60th anniversary of diplomatic ties with China and the official political dialogue that Switzerland and China have agreed as a means to deepen their bilateral relations.