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BEIJING, Sept.1 (Xinhua) -- China's securities watchdog on Monday required fund companies to make their information release more transparent and rolled out a draft regulation on brokers, its latest moves to boost the healthy development of the country's stock market.     The information of stock-oriented funds, such as their periodic results, would be regularly publicized on the website of the China Securities Regulatory Commission, according to a standard format in the eXtensible Business Reporting Language (XBRL), starting from Jan. 1 next year, the CSRC said in a statement on Monday night.     "The move was to further improve the quality of information release by fund companies," said the CSRC.     The new rule was expected to help third-party agencies to appraise and supervise the management of fund companies. Previously it was difficult for a third party to collect and analyze the first-hand information of funds, which was not available to all.     Meanwhile, the CSRC said a new regulation on securities brokers would prohibit them from surpassing their authority by manipulating customers' accounts or providing investment counseling.     The dealers would also be forbidden to "offer or spread false, misleading information", or "tempt customers to make unnecessary deals," said the CSRC. Nor could they make agreements on sharing investment proceeds with customers, or promise gains or compensation for losses.     "It was aimed at protecting the legal interests of fund investors and ward off risks caused by ill regulation of securities dealers," said the CSRC in a separate statement.     The watchdog's actions were part of China's recent efforts to straighten out the stock market order and lay a sound foundation for a long-term development.     The CSRC announced earlier this month it would raise the refinancing threshold for listed companies, saying the dividend they pay to shareholders in the recent three years should be no less than 30 percent of its distributed profits, compared with the previous set line of 20 percent.     Refinancing plans of listed companies had led to share price declines and complaints in China as liquidity concerns loomed over the stock market. Investors also blamed their losses on insider trading and opacity of fund companies.     Last week, a draft amendment to the Criminal Law was submitted to China's top legislature, stating that employees of financial institutes will face criminal prosecution for insider trading. Currently there were no relevant provisions in the Criminal Law.     China's benchmark Shanghai Composite Index has shed more than 60 percent from its peak in mid October last year.     In the first half, 364 funds in the country incurred a record loss of 1.08 trillion yuan (about 154 billion U.S. dollars), more than 90 percent coming from stock-oriented or hybrid funds, according to statistics from the TX Investment Consulting Co..

CHENGDU, May 16 (Xinhua) -- Rescue operation and disaster relief for victims in the worst earthquake over decades are of top priority of the nation, and thus require concerted efforts from the whole country, Chinese Premier Wen Jiabao said Thursday night.     Monday's 7.8-magnitude earthquake that ravaged southwestern Sichuan Province and was felt in most parts of the country was the "most destructive" tremor and had the "most wide-spreading impact" since New China was founded in 1949, Wen said on a meeting of the rescue headquarters under the State Council headed by himself. Chinese Premier Wen Jiabao (L) comforts local people in Muyu Township, Qingchuan County, southwest China's Sichuan Province May 15, 2008. Qingchuan County is one of the worst-hit areas in Sichuan Province. Premier Wen is here to oversee rescue work and visit survivors.It was even more powerful than the Tangshan earthquake in 1976,Wen said. The catastrophe in northern Hebei Province claimed about240,000 lives three decades ago.     He hailed the efficiency and order the country has maintained for the past 80 hours as the country focused its resources on saving lives and disaster relief work for quake victims.     He said the government will stick to its "people-first" policy in its future rescue operations and reconstruction works. A mother deadly cries after knowing her child lost life in the devastating earthquake in Sichuan Province May 15, 2008. "Saving lives is still our top priority, as long as hope of survival still exists," Wen said, urging that social stability to be maintained.     He warned relevant authorities to pay special attention to the prevention of plagues.     He said supplies of food, medicines, and tents must be ensured.     More than 50,000 people are feared dead in Sichuan alone after Monday's earthquake, with confirmed death toll in the province hitting 19,509 by Thursday afternoon.

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, April 30 (Xinhua) -- Jia Qinglin, Li Changchun and Zhou Yongkang, members of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.     During their separate visits, they were shown around the 160 material exhibits and more than 400 pictures. The exhibition is being held in two halls of the Nationalities Cultural Palace. Jia Qinglin, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday. The exhibition shows the backwardness of Old Tibet and the development and progress of New Tibet, as well as the inseparable, historic links between Tibet and the Chinese nation.     Tibet is in its best period in history and the exhibition shows the great changes in the Tibet Autonomous Region in the political, economic, social and cultural fields, said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). Li Changchun, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.Li, who is responsible for the Party's ideological work, said the exhibition exposes the darkness, cruelty and backwardness of Old Tibet and the hypocritical face of the ** Lama as a "human rights guardian," "missionary of peace" and "spiritual leader."     The historic materials show that Tibet has been an inseparable part of China since ancient times, as the Chinese central government has exercised effective sovereign rule over Tibet, said Zhou, the secretary of the CPC Central Committee for Political and Legislative Affairs. Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.The senior Party officials all pledged to safeguard the achievements of New Tibet, the happy lives of Tibetans and prosperity, development, harmony and stability in Tibet.     Other senior Party and State officials visiting the exhibition on the same day included Hui Liangyu, Liu Yunshan, Ma Kai, Meng Jianzhu and Du Qinglin.     The exhibition is sponsored by the United Front Department of the CPC Central Committee, the State Council Information Office, the State Ethnic Affairs Commission and the regional government of Tibet. It will be open to the public between April 30 and July 25,free of charge.

BEIJING, May 21 -- China's tax authority has cut or waived a tax levy, offered a tax refund, and reiterated the tax concession on donations related to the earthquake in Sichuan Province as means of helping to support victims.     Losses suffered by companies and individuals due to the 8.0-magnitude earthquake can be tax deductible, the State Taxation Administration said in a notice on its Website.     As of 6pm yesterday, the number of people killed by the devastating quake has reached 40,075 while 247,645 people have been injured and there were still 32,361 people unaccounted for.     The supplies donated by overseas governments, individuals and companies are exempted from import taxes (including Valued Added Tax and Customs Duties), the tax authority said.     People whose tax-paid autos or ships have been destroyed in the quake can apply for a refund of Vehicles and Vessels Usage Tax for the period from the date they were destroyed until the end of the year. Normally auto and ship tax is prepaid at the beginning of the year. Students of Jiefang Primary School donate money to the quake-hit region in Sichuan Province in southwest China, in Harbin, capital of northeast China's Heilongjiang Province, May 14, 2008    Victims who can't afford to pay the land use tax due to the quake can ask for the levy to be reduced or exempted from the tax.     People who buy new homes will be exempted from the deed tax on new home transactions or enjoy a cut in the tax rate. The rules are enforced by the provincial governments for the quake-hit area.     Companies and individuals who donated money to the earthquake area will be partly exempted from taxation, the tax authority reiterated.     Companies on the Chinese mainland have made a combined donation of more than 4.5 billion yuan (US5 million) in cash and goods as of yesterday afternoon, according to Chinese Web portal Sina.com.     Donation, which are within 12 percent of a company's total annual profit, can be claimed as tax deductible expenses, according to China's corporate income tax law. Donations that exceed the amount are not tax deductible.     For individuals, donations that are less than 30 percent of their income, can be tax deductible. The donations must be made through domestic non-commercial social entities or government bodies. Individuals' donations made directly to the quake victims are not tax deductible.