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BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign.     These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.     The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said.     The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.     However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth.     CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.     CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.     The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.     From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.     The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

HARBIN, Aug. 30 (Xinhua) -- Top Chinese political advisor Jia Qinglin on Saturday urged new social and economic development in northeast China's Heilongjiang province, in accordance with the country's strategy to revitalize the old industrial base.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the requirement during an inspection tour of Heilongjiang from Aug. 26 to 30. He visited local farms, enterprises and research institutes.     He said Heilongjiang, the country's largest production base of commodity grain, should make more efforts on grain production, by further increasing agricultural input and infrastructure construction. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), visits a farm in Harbin, capital of northeast China's Heilongjiang Province, Aug. 29, 2008, during his inspection tour in Heilongjiang from Aug. 26 to 30    In addition, the province should promote the development of agricultural science and technology, and further arouse farmers' initiatives for farming.     Meanwhile, Heilongjiang, as one of China's important industrial bases, should invigorate its equipment manufacturing industry, to make more contributions to the country's industrialization and national defense.     Jia, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, showed great concerns on local ethnic minorities' lives, saying the government should continue to help them lead harmonious and happy lives. Jia Qinglin (2nd R, front), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), visits the Harbin Boiler Company in Harbin, capital of northeast China's Heilongjiang Province, Aug. 29, 2008, during his inspection tour in Heilongjiang from Aug. 26 to 30.

BUDAPEST, May 8 (Xinhua) -- Jia Qinglin, head of China's top political advisory body, on Thursday met with Hungary's parliament speaker and put forward a package of proposals for further expanding friendship and cooperation between China and Hungary.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), held talks with Szili Katalin, speaker of the Hungarian National Assembly in Budapest Thursday morning.     During the meeting, Jia suggested that the two countries should maintain high-level contact so as to deepen political trust. The two countries should also expand trade and economic cooperation in a bid to promote common development. China will continue to encourage well-established companies to invest in Hungary. It will also adopt effective measures to increase imports from Hungary and encourage enterprises from both countries to carry out active and concrete cooperation, Jia said. Jia Qinglin (2nd R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with Speaker of Hungarian National Assembly Szili Katalin (2nd L) in Budapest, capital of Hungary, on May 8, 2008.The two countries should also promote human and cultural exchanges so as to improve mutual understanding, he said. China will continue to support the development of Hungarian-Chinese bilingual schools and the Confucius School in Hungary. To mark the60th anniversary of the establishment of diplomatic ties between China and Hungary, China will hold a "China Culture Festival" in Hungary next year, said the Chinese leader.     Jia said the CPPCC is ready to strengthen contact and exchanges with the National Assembly of Hungary by carrying out cooperation in all forms and at all levels.     Szili agreed with Jia's views on developing bilateral links. She expressed the wish that the two countries should continue to maintain exchange of visits by high-level officials, explore the potential and new areas of economic cooperation, expand cooperation in such fields as culture, education and tourism. She said the two countries should seize the opportunity of the 60th anniversary of diplomatic ties to push the development of bilateral relations.     Hungary attaches great importance to the 2008 Beijing Olympic Games and the Shanghai World Exposition and will actively participate in the two great events, Szili said.     She said Hungary gives priority to its relations with China in its overall foreign policy. As a member of the European Union, Hungary is ready to make active contributions to the development of EU-China relations.

SHANGHAI, Sept. 5 (Xinhua) -- The world's widest tunnel with an inner diameter of 13.7 meters completed its excavation here under the Yangtze River on Friday.     The 8.9-km tunnel is part of a 12.6 billion yuan (1.84 billion U.S. dollars) bridge and tunnel project to link Shanghai with Chongming Island, the country's third largest after Taiwan and Hainan.     The tunnel will accommodate a six-lane expressway and a rail line. When operational in 2010, travel to Chongming from urban Shanghai will take 20 minutes, according to Yu Xuanping, vice general manager of the Shanghai Tunnel Engineering Co., Ltd, builder of the tunnel.     The company used a tunnel boring machine with a diameter of 15.43 meters, the largest of its kind, to excavate under the Yangtze.     The tunnel and bridge project would make the transport networkson the southern and northern sides of the river more closely connected, said Wu Liangyong, a Chinese Academy of Sciences academician.     The tunnel connects Shanghai's vast Pudong District with Changxing Island in the Yangtze, while the bridge connects Changxing and Chongming.     Currently, Chongming is connected with Jiangsu Province to its north.     Located at the Yangtze River mouth, Chongming covers an area of1,200 sq. km, equal to about 20 percent of Shanghai's total land area.     China's central government plans to turn the island into a model of an eco-friendly town in the country. Shanghai municipal government is also paying great attention, with infrastructure projects being built within the island.     Experts said the inconvenient traffic between Shanghai and Chongming once blocked the development of the island. The construction of the bridge and tunnel would help attract overseas investment and make the suburb a major channel of the Yangtze River Delta area.

BEIJING, April 29 (Xinhua) -- Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, on Tuesday urged Taiwan to work together with the mainland based on four principles: "Building mutual trust, laying aside disputes, seeking consensus and shelving differences, and creating a win-win situation."    He called for substantial efforts for the welfare of Chinese compatriots on both sides, to seek peace across the Taiwan Strait and create a new situation for the peaceful development of cross-strait relations.     Hu made these remarks in a meeting with Lien Chan, honorary chairman of the Kuomintang Party (KMT), his wife and his delegation, at the Diaoyutai State Guesthouse in central Beijing. Hu Jintao (R), general secretary of the Central Committee of the Communist Party of China, meets with Lien Chan, honorary chairman of the Chinese Nationalist Party, or Kuomintang (KMT), in Beijing, April 29, 2008.    Positive changes have taken place in Taiwan and the cross-strait relationship has witnessed sound development, said Hu. He thanked Lien for bringing to the mainland the works of a well-known Taiwan sculptor as a gift to the Beijing Olympics.     Hu recalled his first meeting with Lien three years ago, which was the first official summit between the CPC and the KMT in the past 6 decades.     At that first summit, the two parties publicized common aspirations for the peaceful development of cross-strait relations, which laid the political foundation for cooperation, he noted.     He called for resuming cross-strait talks on the basis of the "1992 Consensus" as early as possible, to resolve problems in a practical manner, make substantial efforts for the welfare of Chinese compatriots on both sides and seek peace across the strait.     "The Chinese nationality will realize a bright future in its great rejuvenation, a common glory for the compatriots of the two banks," He said. The compatriots share the same fate and belong to the same big family of the Chinese nationality, Hu said.     He expressed the hope that compatriots on both banks will further join hands to create a new environment for the peaceful development of cross-strait relations, realize the great rejuvenation of the Chinese nationality, and promote the lofty cause of peace and development of mankind.     In his remarks, Lien agreed with Hu. He said the principles adopted at the KMT-CPC summit in 2005 were "of epoch-making importance" and have since been the guidelines for the peaceful development of cross-strait relations.     The welfare of the compatriots on both banks must be built upon the peaceful development of cross-strait relations, Lien said. He called for joint efforts to increase exchanges and cooperation in the fields of economics, culture, education and social security.     Also present were senior mainland officials including Wang Qishan, Ling Jihua, Chen Yunlin and Chen Shiju.

来源：资阳报