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BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.

BEIJING, Oct. 5 (Xinhua) -- China's National Bureau of Statistics (NBS) under new chief Ma Jiantang is likely to reform its statistical system to ensure the authenticity and timeliness of data and help the government to better cope with the uncertainties of outside economic influences, the minutes of an NBS meeting show.     After his inauguration as the NBS director, Ma has said he felt pressure, but was confident of taking over "the baton of statistical reform and development."     "The changing world economy, especially the financial turmoil triggered by the U.S. sub-prime mortgage crisis, had increased the uncertainties of China's macro-economic development and stability and set new tasks for statisticians," said Ma.     "I would like to work with all NBS staff together to advance reforms and innovations in statistical systems, indices and methods to make sure statistical work could better serve the pursuit of scientific development to shift the target of economic expansion from quantity to quality, and building a moderately prosperous society."     According to the minute, Ma gave no details of his reform plans. But his predecessor, Xie Fuzhan, who was transferred to head the Research Office of the State Council, admitted in his leaving speech that the foundation for China's statistical work remained feeble, with a lot to be done in optimizing statistical methods and management.     "Both the status of statistical departments and the capability of statisticians needs to improve to meet their obligations and fulfill their tasks," Xie said. He took up the post two years ago after his predecessor Qiu Xiaohua fell over fund scandal.     Authorized by the State Council to examine and calculate the economic output nationwide and to collect and compile economic figures for almost all industries and sectors, the NBS offers basic statistical information and policy advice for higher authorities and government departments.     Ma, a doctor of economics who graduated from the Chinese Academy of Social Sciences, viewed authenticity and timeliness as "the lifeblood of statistics work" and "the way for statisticians to conduct themselves".     He said the essence and core of statistics was to reflect facts, analyze real situations and seek truth, according to the minute.     Ma also urged NBS staff to resist all fabrications of data, secure the quality of figures and work with professionalism.     Under the current management system, local statistical departments serve two bosses, with the NBS giving them statistical assignments but local governments in charge of their personnel and finance. The NBS was only authorized to assist governors, municipal mayors and autonomous region chiefs in managing the heads of NBS branches.     Prestige-minded local officials looking for advancement have often tested the integrity of statisticians within their jurisdiction.     To remedy the situation, China's legislature revised the implementation rules of Statistics Law in 2006, which authorized NBS investigation teams to undertake independent statistical surveys and reports in all provinces, municipalities and autonomous regions.     Under the Statistics Law, leading members of local authorities who alter statistical data without authorization, fabricate statistical data, compel or prompt statisticians to tamper with figures will be subject to administrative sanctions. Officials who retaliate against statisticians who refuse to fabricate data face criminal penalties.     After more than two decades of sizzling growth at the cost of depleted resources, increased energy consumption and environmental damage, the Chinese economy is undergoing a tough rebalancing that puts more emphasis on quality than quantity.     As global economic slowdown could dampen exports -- a major growth engine -- more than expected, the government has become increasingly careful with monetary tools like interest rates, deposit reserve ratios as well as industrial and fiscal policies so as not to plunge the expanding economy into recession.     Senior decision-makers have been demanding precise and more timely statistics for earlier warnings in the event of slowdown or other ailments.     Ma was appointed vice governor of Qinghai in December 2004 and used to work with the State Economic and Trade Commission and the Assets Supervision and Administration Commission of the State Council.

FUZHOU, July 27 (Xinhua) -- A total of 274,300 people had been evacuated by Sunday afternoon in southeast China's Fujian Province as a strong typhoon was approaching, said the provincial flood control headquarters.     About 52,301 fishing boats had also returned to harbor as of 6:00 p.m. on Sunday. Disaster relief personnel had been helping people on fishing vessels get on shore, said Yang Zhiying, head of the flood control headquarters in Fujian.     Typhoon Fung Wong, the eighth tropical storm of this year, turned into a strong typhoon at 8:00 p.m. Its eye was monitored at the sea about 210 kilometers to the east of Taitung County in Taiwan, according to the provincial observatory.     It moved westward and was forecast to land Taiwan on Sunday night or Monday morning. Frontier guards fasten a vessel at a harbor in Fuzhou, capital of southeast China's Fujian Province, July 27, 2008. The intensifying Typhoon Fung Wong was forecasted to land in Fujian on Monday evening or Tuesday morning. The Fujian provincial flood control headquarters has demanded all vessels to return to harbor on Sunday. Disaster relief personnel have been sent to help women and children on fishing vessels get onshore.The observatory monitored that the typhoon would make another landfall in Fujian on Monday night or Tuesday morning, sweeping the province before moving up inland to east Jiangxi Province.     Influenced by Typhoon Fung Wong, Fujian was hit by winds up to force 8 to 11 in the morning. Its observatory forecast that rainstorm would continue on Monday in the province, which sits on the west of the Taiwan Straits.     From Monday night to Tuesday, winds are expected to reach force7 to 9 in the coastal cities of Fujian. Rainstorms or torrential rainstorms are forecast in the cities of Ningde, Fuzhou, Putian and Quanzhou.     "The continuous heavy rain is likely to trigger flood or other secondary disasters," Yang said.

BEIJING, July 3 (Xinhua) -- A senior Chinese diplomat on Thursday urged developed and developing countries to work on common policies and cooperation to address the global challenges such as climate change and food security.     "China values dialogue between the Group of Eight (G8) and developing countries", Assistant Foreign Minister Liu Jieyi said at a briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit.     At the invitation of Japanese Prime Minister Yasuo Fukuda, Hu will attend the Outreach Session of the G8 Summit in Japan from July 7 to 9.     The G8, comprising the United States, Britain, Germany, Canada, France, Italy, Japan and Russia, holds a summit each year.     Liu said the issues to be discussed would be "important" and "urgent", and he hoped the meeting would promote the dialogue between South and North, step up multilateral cooperation to resolve global issues and ensure lasting peace and common prosperity. A briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit is held in Beijing, July 3, 2008    Liu said China had been cementing dialogue and exchanges with the G8, citing the fact that Hu had participated in the past four dialogues among leaders of the G8 countries and developing countries.     China was involved in the ministerial meetings between G8 and developing countries focusing on finance, environment, development, science and technology, and energy, Liu added.     Hu would participate in a joint meeting with leaders from India, Brazil, South Africa and Mexico, attend in a summit of G8 countries and five developing countries, and take part in a meeting of leaders from the major economic powers to discuss energy security and climate change.     "President Hu will also attend a working lunch to discuss issues of common concern such as the world economic situation, food security and development", Liu said.

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