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SHANGHAI, Jan. 11 (Xinhua) -- The listed arm of China's biggest train maker, China South Locomotive and Rolling Stock Industry (Group) Corporation (CSR), has been allowed by regulatory authorities to raise 9 billion yuan (1.41 billion U.S. dollars) on the stock market, the company said Wednesday.The Hong Kong- and Shanghai- listed CSR Corp. Ltd. will sell 1.96 billion shares at 4.46 yuan apiece to select investors, it said. But CSR's parent -- state-owned CSR Group -- has agreed to buy no less than 6 billion yuan's worth of the shares, leaving the rest to institutional investors.CSR's net profit growth in the third quarter of 2011 plunged to 9.66 percent year-on-year from a high of 85.08 percent in the first half of 2011 as the country put the brakes on development of the railway sector after a deadly bullet train crash on July 23 that killed 40 people and injured 210 others.The decision to slow the development of high-speed rail lines has led to halts in construction of about 90 percent of ongoing railway projects, or 10,000 km of rail lines across the country, local media reported earlier.CSR is the maker of the bullet trains involved in last July's deadly collision. After the accident, the company's executives bought a combined 540,000 share in August, a move seen as an attempt to bolster battered stock prices.Analysts say the fundraising would help CSR greatly ease its financial burdens. The company earlier pledged to maintain profit growth and its dividend policy to boost investors' confidence.

BEIJING, Oct. 2 (Xinhua) -- Chinese archeologists have found evidence indicating that the mysterious ancient city of Loulan (Kroraina) once had highly-developed agricultural systems.Scientists from the Institute of Geology and Geophysics under the Chinese Academy of Sciences conducted remote sensing procedures, field investigations and sample testing in the area and found that there were once large tracts of farmlands in Loulan.The farmland featured regular and straight circumferences stretching for 200 to 1,000 meters as well as irrigation ditches running throughout, said Qin Xiaoguang, a member of the research team.Moreover, researchers found grain particles in the area's ground surface, which are very likely to be remains of crop plants, Qin said.These findings show that irrigation farming had been practiced in Loulan for at least 100 years, Qin said.Qin said they also found canal remains measuring 10 to 20 meters wide and 1.6 meters deep in the Loulan relics, indicating that the city, which is suspected of perishing in drought, was once rich in water resources.The ancient city was a pivotal stop along the famous Silk Road, but mysteriously disappeared around the third century AD.Previous historical records suggested that Loulan's economy was sustained by widespread agricultural activity, but no remains or other evidence had been found before the most recent discoveries.

RIYADH, Jan. 14 (Xinhua) -- China and Saudi Arabia pledged to work together to further expand all-around exchanges and cooperation as Chinese Premier Wen Jiabao Saturday unfolded his official visit to the Middle East kingdom.China and Saudi Arabia have treated each other as equals with respect and their cooperation has been fruitful since the establishment of diplomatic ties 22 years ago, said Wen while meeting Crown Prince Nayef bin Abdulaziz Al Saud.In recent years, despite the fact that international and regional situation became ever complicated and volatile, the two countries have strengthened high-level exchanges and promoted political mutual trust, said Wen, adding that the two have always demonstrated mutual understanding and support on issues involving their core interests and of major concern.Chinese Premier Wen Jiabao (L) holds talks with Saudi Arabia's Crown Prince Nayef bin Abdulaziz Al Saud in Riyadh, Saudi Arabia, Jan. 14, 2012.The premier said the decision to lift bilateral ties to an even higher level has shown the two nations' firm commitment to jointly face challenges and protect common interests as the world situation is undergoing profound changes.China would like to work with the Saudi side in deepening exchanges and cooperation in various aspects so as to benefit the two peoples and promote world peace and development, Wen added.He said the two sides should expand trade of crude oil and natural gas and energy-related cooperation as to deepen their energy partnership.Wen also asked the two countries to promote investment cooperation. The Chinese government encourages well-established Chinese companies to participate in Saudi Arabia's infrastructure construction such as railway, sea ports, electricity and telecommunications, he said.The two nations could also enhance security and law enforcement cooperation and promote people-to-people exchanges in areas like education and sports, as well as between the two nations' youths.Nayef said Saudi Arabia and China enjoy a time-honored history of exchanges, adding that the Saudi people have friendly feelings toward the Chinese people and expect even better bilateral ties.With joint efforts, bilateral ties have moved forward continuously with remarkable achievements in bilateral cooperation, he said, added that the partnership has bright prospects.Nayef said Saudi Arabia is willing to further boost political mutual trust with China, expand bilateral cooperation in economy and trade, energy, infrastructure, culture, press, and security, promote friendship between the two peoples, and lift bilateral ties to a higher level.Wen arrived here on Saturday evening after a short official visit to Nepal on the same day.