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BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs. The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday. An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective. The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks. The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices. Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system. Three revisions were made to the draft to follow public advices that the commission deemed reasonable. The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks. In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation. However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets. The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more. The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing. The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run. A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares. China State Construction Engineering Corp. is expected to issue12 billion shares.
BEIJING, June 1 (Xinhua) -- As millions of Chinese children celebrated Children's Day Monday, Premier Wen Jiabao shared a light moment with 100 young students invited to his office in downtown Beijing. In two hours squeezed from tight schedule, Wen danced, sang and chatted with the children from all over the country. He encouraged the youngsters to study hard, and to grow up well-educated with loving hearts. "It is love that brings you together and here today. I hope you understand what love is, how to cherish love and learn to love others," the 67-year-old premier, also a grandfather, told the excited children. Chinese Premier Wen Jiabao (C) attends a celebration with children for the International Children's Day in Beijing, capital of China, June 1, 2009The outing resulted from an initiative of Beijing's Zhongguancun No. 3 Primary School, which raised funds through student charity work to sponsor visits by children from other parts of China to the national capital on Children's Day. More than 70 children, belonging to 55 ethnic groups, were invited from 18 provinces and autonomous regions. In a letter to Wen, they asked if they could meet him. Their wish came true on Monday when they arrived at Zhongnanhai, the central leadership's compound near the Forbidden City in central Beijing. Chinese Premier Wen Jiabao (2nd R Front) receives a calligraphy work presented by a child during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. Smiling Wen received a gift from the children -- a red scarf usually worn by the Young Pioneers. He showed the children an office used by Premier Zhou Enlai before he died in 1976, where the children recited an article in their textbook describing how the widely-respected statesman was dedicated to his work. At an auditorium specially decorated with children's paintings, balloons and greeting cards, Wen listened attentively as the children discussed their trip to Beijing. Sangye Lhamo, from Medog County in southwestern Tibet Autonomous Region, attracted the premier's attention because he knew Medog was China's only county without paved roads. Chinese Premier Wen Jiabao (C) views the children's drawings during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. "You must come from the remotest place compared with other kids here. How did you make it?" Wen asked. Sangye Lhamo said they spent 10 days traveling, trekking over snow-capped mountains. Wen said he hoped Sangye Lhamo's trip to Beijing would not be so hard in future, "because the government will build a road to your hometown from Lhasa (Tibet's capital) soon." Shan Danleng's hometown, Leigu in Beichuan County, Sichuan Province, was devastated by the magnitude 8 earthquake on May 12 last year. But she told Wen that she and her schoolmates had moved into new classrooms last month, with the support of loving people. Chinese Premier Wen Jiabao (C) leads the children for a tour of the Zhongnanhai leadership compound during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009."Today we gather here like a big family. It's all because of love," Wen said. "I hope you will learn to love your parents, your hometowns and your country. With love we can unite together to build a better future for our motherland." He also told accompanying teachers and officials to use the true, the good and the beautiful as principles in education. The young visitors each left with a Chinese language dictionary and a set of Chinese literary classics, all autographed by Wen.
BEIJING, June 6 (Xinhua) -- Most parts of China would experience cold weather and precipitation during the next week, forecast of the country's central observatory said Saturday. Northeastern parts of China were to embrace lower weather and scattered precipitation during the period, which would help ease the drought plagued the region, said the National Meteorological Center. Moderate or heavy rains would sweep most parts of south China. Some regions south to the Yangtze River and Guangxi Zhuang Autonomous Region would experience rain storm or strong convective weather.People walk on the street in Hefei, east China's Anhui Province, June 5, 2009. A heavy rain cooled the hot weather in Hefei on Friday eveningOn Sunday, most parts of Sichuan Province, western and northern Chongqing, southwestern Yunnan and Guangdong provinces would be hit by heavy rain or rainstorm. Strong convective weather was to hit these regions, resulting in strong wind, thunder storm or hails. According to statistics of the Ministry of Civil Affairs Friday, storms sweeping five provinces in central and east China killed 27people and damaged more than 341,000 hectares of crops.
BEIJING, May 16 (Xinhua) -- One confirmed case of A/H1N1 flu was reported in Beijing, the Ministry of Health said on Saturday evening. It is the third confirmed case of A/H1N1 flu on the Chinese mainland, according to the ministry. Fang Laiying (C), dirctor of Beijing Municipal Health Bureau, Deng Ying (R), dirctor of Beijing Municipal Center for Disease Control and Prevention, and Mao Yu (L), president of Beijing Ditan Hospital, hold a press conference in Beijing, capital of China, May 16, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningThe case involved a 18-year-old female who studies in a university in the New York State of the United States, which was the one reported previously as suspected case by the Emergency Management Office of Beijing Municipal Government Saturday evening. She was currently in a stable condition, with a normal body temperature, the ministry said. The female, a Beijing native, arrived in Beijing on May 11 on board the U.S. Continental Airline C089 and reached home accompanied by her mother, said the ministry. A staff member casts away the exposure suit after disinfection work at Beijing Ditan Hospital, Beijing, China, May 17, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningShe did not go out or meet friends after arriving home, according to the ministry's investigation. She felt unwell and physically weak in the noon on May 12 and took her temperature herself. She went to the fever outpatient section of the Peking University First Hospital in the evening on May 14 and said she developed symptoms of cough, a few sputum, headache, sore throat, chest distress and sore muscle, with a body temperature of 37.7 degrees Celsius. A staff member guards outside the inpatient department at Beijing Ditan Hospital, Beijing, China, May 17, 2009. One confirmed case of A/H1N1 flu was reported in Beijing, China's Ministry of Health said on Saturday eveningShe was initially diagnosed as fever, needing further check and "suspected of A/H1N1 flu," the ministry said. The patient was transferred to the Beijing Ditan Hospital early in the morning on May 15. The Beijing Center for Disease Control and Prevention (CDC) tested a specimen taken via a swab from her throat, which showed she was "suspected positive" for A/H1N1 and positive for PIV-H3. The China CDC and the Chinese Academy of Medical Sciences tested the specimen again the next day and confirmed she had contracted the A/H1N1 virus. The ministry said experts made the decision based on the patient's symptoms, epidemiological investigation results and laboratory tests. All the people who had close contact with her had been tracked down and put under medical observation, with no one feeling unwell, it said. According to Beijing Municipal Health Bureau, Liu had only contacted with two persons, one is her mother and the other is the taxi driver who carried her to Peking University First Hospital. Neither of the two had shown flu symptoms, said Deng Ying, director of Beijing CDC. Expressing his appreciation of the 18-year-old Liu for keeping a clear diary about her journey in Beijing, Fang Laiying, director of Beijing Municipal Health Bureau, said, "she even kept the receipt from the taxi driver, otherwise it would be difficult for us to find out the driver," "The quarantine hospital had arranged three doctors and three nurses for Liu and took strict medical observation on her," said Mao Yu, president of Beijing Ditan Hospital. "Liu is in stable condition as her temperature is getting normal and her appetite getting better," Mao said. The health ministry has reported the case to the World Health Organization, Hong Kong, Macao and Taiwan and relevant countries. The first two cases in mainland China are Chinese nationals, Bao and Lu, who had been students in the United States and Canada, and were traveling back to their homes in the past days of the month, contracted the flu strain and developed symptoms shortly after they set foot in China
BEIJING, June 1 (Xinhua) -- As millions of Chinese children celebrated Children's Day Monday, Premier Wen Jiabao shared a light moment with 100 young students invited to his office in downtown Beijing. In two hours squeezed from tight schedule, Wen danced, sang and chatted with the children from all over the country. He encouraged the youngsters to study hard, and to grow up well-educated with loving hearts. "It is love that brings you together and here today. I hope you understand what love is, how to cherish love and learn to love others," the 67-year-old premier, also a grandfather, told the excited children. Chinese Premier Wen Jiabao (C) attends a celebration with children for the International Children's Day in Beijing, capital of China, June 1, 2009The outing resulted from an initiative of Beijing's Zhongguancun No. 3 Primary School, which raised funds through student charity work to sponsor visits by children from other parts of China to the national capital on Children's Day. More than 70 children, belonging to 55 ethnic groups, were invited from 18 provinces and autonomous regions. In a letter to Wen, they asked if they could meet him. Their wish came true on Monday when they arrived at Zhongnanhai, the central leadership's compound near the Forbidden City in central Beijing. Chinese Premier Wen Jiabao (2nd R Front) receives a calligraphy work presented by a child during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. Smiling Wen received a gift from the children -- a red scarf usually worn by the Young Pioneers. He showed the children an office used by Premier Zhou Enlai before he died in 1976, where the children recited an article in their textbook describing how the widely-respected statesman was dedicated to his work. At an auditorium specially decorated with children's paintings, balloons and greeting cards, Wen listened attentively as the children discussed their trip to Beijing. Sangye Lhamo, from Medog County in southwestern Tibet Autonomous Region, attracted the premier's attention because he knew Medog was China's only county without paved roads. Chinese Premier Wen Jiabao (C) views the children's drawings during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. "You must come from the remotest place compared with other kids here. How did you make it?" Wen asked. Sangye Lhamo said they spent 10 days traveling, trekking over snow-capped mountains. Wen said he hoped Sangye Lhamo's trip to Beijing would not be so hard in future, "because the government will build a road to your hometown from Lhasa (Tibet's capital) soon." Shan Danleng's hometown, Leigu in Beichuan County, Sichuan Province, was devastated by the magnitude 8 earthquake on May 12 last year. But she told Wen that she and her schoolmates had moved into new classrooms last month, with the support of loving people. Chinese Premier Wen Jiabao (C) leads the children for a tour of the Zhongnanhai leadership compound during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009."Today we gather here like a big family. It's all because of love," Wen said. "I hope you will learn to love your parents, your hometowns and your country. With love we can unite together to build a better future for our motherland." He also told accompanying teachers and officials to use the true, the good and the beautiful as principles in education. The young visitors each left with a Chinese language dictionary and a set of Chinese literary classics, all autographed by Wen.