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BEIJING, July 3 (Xinhua) -- Chinese Premier Wen Jiabao on Friday called for continued vigilance against the global pandemic of the A/H1N1 influenza and urged positive and scientific measures to cope with it. Wen made the comment at the executive meeting of the State Council, China's Cabinet. He underscored the importance of preventing and controlling the disease in public places such as schools and hospitals and called for intensified efforts in treating patients with serious symptoms so as to reduce the likelihood of fatalities. So far, there have been no deaths from the flu in China. Inspection and quarantine measures should be strengthened and reserves of flu-prevention and control materials must be secured, he said. Flu medicine and vaccines should be made and stored as scheduled and the role of traditional Chinese medicine in treating the disease should not be neglected, he added. He also asked local authorities to make prevention and control plans based on local conditions and formulate management measures on flu patients' medical expenses. The Premier has also championed the importance of health education and public opinion guidance in fighting against the disease.
HONG KONG, May 18 (Xinhua) -- China will definitely be able to meet the target of achieving eight percent economic growth in 2009, a senior official of the country's top economic planning body said here Monday. "Judging from the indicators of the first four months, I do believe it is highly possible to achieve an eight percent growth for the full year. In fact, I believe the target will definitely be met," said Xulin, head of the Department of Fiscal and Financial Affairs of the National Development and Reform Commission. Speaking at a briefing in Hong Kong, Xu said the basic assessment was that there has been consolidation in the recovery momentum and that the minor slowdown in April, normal as it has been when considering the past experiences, did not necessarily signal a second bottom in the ongoing economic downturn. Economic planners have been monitoring the economy closely and are prepared to put in place additional measures in the coming months if it is necessary, Xu said. Post-earthquake reconstruction in Sichuan province was being carried out quicker than previously planned. Small and medium enterprises were receiving financing aid from guarantee programs, Xu told local as well as foreign reporters. The National Development and Reform Commission will approve 600 billion yuan (88 billion U.S. dollars) of corporate bonds this year as the IPO market remained cool, compared with 236 billion (35 billion U.S. dollars) for 2008, Xu said. The debt of the Chinese government was about 20 percent of gross domestic product, compared with over 190 percent for Japan, close to 100 percent for the United States and 60 percent on average for the European economies. The Chinese government has planned a budget deficit of 950 billion yuan (139 billion U.S. dollars) for 2009, which represented about 2.8 percent of gross domestic product. Xu said the ample resources could sustain heavy government investment to stimulate the economy for several years although "it was not necessary. "The Chinese government will spend more resources to develop public housing programs and a pension system and to push forward the health reform, so as to increase the contribution of domestic consumption to economic growth," Xu said. "I don't think export can still play the roles as they did in past few years in driving the Chinese economy," Xu said, adding that China, as a responsible player, would like to see a moderately stable yuan.
BEIJING, July 14 (Xinhua) -- Chinese equities gained 2.1 percent to hit a 13-month high Tuesday after three days of losses, boosted by financial, real estate and steel shares. The benchmark Shanghai Composite Index closed at 3,145.16 points, up 64.6 points, or 2.1 percent. The Shenzhen Component Index closed at 12,991.06 points, up 330.51 points, or 2.61 percent. Total turnover expanded to 280.53 billion yuan (41.07 billion U.S. dollars) from 268.78 billion yuan on the previous trading day. Winners outnumbered losers by 795 to 67 in Shanghai and 667 to 74 in Shenzhen. This multiple exposure picture shows an investor at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares "Strong investor optimism and a rebound in major markets in the United States and Europe driven by financial shares helped push up the gains in Chinese equities," said Qin Xiaojun, an analyst with Galaxy Securities. The Dow Jones Industrial Average gained 1.4 percent Monday with Bank of America, Citigroup, and J.P. Morgan Chase, three of its banking components, posted solid gains. Positive signals strengthened investor confidence as China posted a 19.6 percent fiscal revenue increase in June Monday. China's central bank Monday called on financial institutions to improve financial support to stimulate the economy. Brokerage shares performed well. Guoyuan Securities rose by the daily limit of 10 percent to close at 24.97 yuan, and Hongyuan Securities advanced 6.19 percent to 26.6 yuan. The real estate sector posted widespread gains as the Beijing-based Vantone Real Estate Co., Ltd and Xiamen-based Chuangxing Real Estate Co., Ltd reached the daily limit of 10 percent to close at 13.83 yuan and 11.31 yuan respectively. Anyang Iron and Steel Group Co., Ltd and Guangxi Liuzhou Iron and Steel Group Co., Ltd also rose by the daily limit to 5.48 yuan and 9.01 yuan respectively.Investors are seen at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares.
BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday. The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs. The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances. The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC. Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board. Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.
BEIJING, May 8 (Xinhua) -- China on Friday honored dozens of military organizations and individuals for their contribution to the nation's quake relief or scientific research work. President and Chairman of the Central Military Commission Hu Jintao signed a decree awarding merits to 15 organizations and 28 individuals with the People's Liberation Army (PLA). Three classes of merits were meted out in accordance with the receivers' contribution. Ten units and individuals were cited for their relief efforts after the 8.0-magnitude earthquake struck southwestern China on May 12 last year, two for "remarkable troop building," five for "achievements in major scientific experiments," two for artist creations and the rest for achievements in scientific researches, according to the decree. In a separate decree signed by Hu, four other soldiers and officers were awarded honorable titles as being "model examples" for their peers. One of them, Meng Xiangbin, was given the honor posthumously as he was drowned while trying to save a suicidal woman from a river in eastern Zhejiang Province in 2007.