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BEIJING, Oct. 2 (Xinhua) -- Tropical storm Higos, the 17th this year, will drop heavy rain on parts of south China's Guangdong and Hainan provinces over the next two days, the National Meteorological Observatory said on Thursday.     The office advised everyone in those regions to prepare for therain, as well as lightning storms and gale-force winds.     Tourists in coastal cities of the island province of Hainan, such as Sanya and Bo'ao, have been advised to avoid offshore activities over the next three days.     Higos was centered about 700 km southeast of Zhuhai, Guangdong,as of 5 p.m. on Thursday, and it was moving north-west at 20 km per hour. Tourists stay at the beach in Haikou, capital of south China's Hainan Province, on Oct. 2, 2008. Tropical storm Higos, the 17th this year, is moving towards south China's island province of Hainan, the provincial meteorological station said on Thursday, affecting the ongoing National Day holidays.    The storm is gaining momentum as it nears eastern Hainan and the mid-west regions of Guangdong, according to the national observatory.     Higos, which formed on Tuesday in the Pacific Ocean, comes on the heels of storms Jangmi and Hagupit, which together killed some 20 people in China

NAIROBI, Sept. 18 (Xinhua) -- Armed Somali pirates hijacked Wednesday a Hong Kong bulk carrier with 25 crew members, 24 of them Chinese, off the Somali coast, the Chinese embassy in Nairob confirmed.     The bulk carrier owned by Sinotrans of Hong Kong was en route from Tunisia to Pipavav, India when it was hijacked off the eastern coast of Somalia, the 14th of such seizure by the pirates in the past two months, said Andrew Mwangura, an coordinator of the East Africa Seafarers Assistance Program (SAP).     Besides the 24 Chinese, a Sri Lankan captain was also on board the vessel that was captured, Mwangura told Xinhua by telephone.     The carrier was the second Hong Kong ship hijacked this week in the region. A Hong Kong-registered carrier was hijacked on Monday near the Somali coast with 22 crew on board. None of them were Chinese citizens.     Somalia's 3,300-kilometer coastline is considered by the International Maritime Bureau one of the world's most dangerous stretches of waters due to piracy as the Horn of Africa remains plagued by factional fighting since 1991.     Over 30 foreign ships have been captured by pirates near the Somali coast this year and more than 10 of them remain in the hands of pirates

BEIJING, Sept. 29 (Xinhua) -- Communist Party of China (CPC) chief Hu Jintao has urged Party members to learn the theory on socialism with Chinese characteristics more conscientiously.     Hu, general secretary of the CPC Central Committee, made the remark at a seminar which was participated in Sunday afternoon by members of the Political Bureau of the CPC Central Committee.     Prof. Yan Shuhan from the Party School of the CPC Central Committee and prof. Qin Xuan from the Renmin University of China delivered speeches at the seminar and put forward their views on applying the theory into practice.     Presiding over the seminar, Hu said the theory on socialism with Chinese characteristics is a fundamental guideline of the Party and government for social and economic construction.     Party members should understand the basic principles of the theory and use them in their practical work, he added.     Hu asked Party organs at all levels to make the theory accessible and understood by every Party member and draw long-term plans to promote and develop the theory.

BEIJING, April 13 (Xinhua) -- Chinese companies will no longer need the central bank's approval when issuing short-term bonds on the inter-bank market amidst government efforts to boost direct financing and reduce bank loan risks.     The People's Bank of China (PBOC) announced non-financial companies could issue bonds with maturities of less than one year on the inter-bank market without its approval from April 15.     Instead, they would only need to register at the National Association of Financial Market Institutional Investors set up in September, the PBOC said in a statement issued late on Saturday.     It said other negotiable notes "with a certain maturity" issued by non-financial companies on the inter-bank bond market wouldn't need administrative examination and approval, either. Nor would future innovative financing tools on the market.     China has vowed to develop its capital market and broaden direct financing channels to curb enterprises' heavy reliance on bank credit.     "China's financial structure has long been unbalanced, with its direct financing underdeveloped," said the statement. "Enterprises rely on bank loans too much, bringing them fairly large hidden risks."     To boost innovation in debt offering and raise the share of direct financing could mobilize the transfer of deposits to investment and decrease credit risks of the banking system, it said.     China allowed companies to offer short-term bonds to qualified institutional investors on the inter-bank market in May 2005.     From then to the end of 2007, 316 companies issued 769.3 billion yuan (about 109.9 billion U.S. dollars) of short-term bonds, with 320.3 billion yuan of outstanding debts, statistics showed.     In comparison, short-term loans to non-financial companies and other institutions surged 1.25 trillion yuan in 2007, while middle- and long-term loans jumped 1.65 trillion yuan.

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