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BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

BEIJING, Sept. 4 (Xinhua) -- China's State Council, or the Cabinet, has ordered government agencies to take immediate actions to rectify the financial abuses exposed by the National Audit Office (NAO) in late August.     All units that misused funds were required to report their rectification results to the State Council before Oct. 31, according to an executive meeting of the Cabinet Thursday, which was presided over by Premier Wen Jiabao.     The NAO found 29.38 billion yuan (4.32 billion U.S. dollars) worth of "problematic" expenditures after auditing the 2007 state budget spending of 53 ministerial-level departments and 368 of their affiliates.     It also found 258 million yuan of disaster relief funds were embezzled and used for administrative expenses or government construction projects.     The meeting decided that more central agencies shall make public their budgets. Eleven of them did this last year.     The Cabinet also reviewed a draft ordinance complementary for the enforcement of the Labor Contract Law, and decided that further revision has to be done before it could be enacted.     The Labor Contract Law took effect on Jan. 1 and has raised concern in China's corporate world because of its enhanced protection of laborers' rights.

BEIJING, July 23 (Xinhua) -- Chinese President Hu Jintao on Wednesday paid a morale-boosting visit to domestic athletes busy training for the upcoming Olympic Games, saying he was looking forward to their good performances.     With 16 days to go until the Games opening ceremony, Hu, accompanied by Vice President Xi Jinping, went to the stadiums of the Training Bureau of the General Administration of Sport in southern Beijing in the morning. He watched training programs of athletes in gymnastics artistic, synchronized swimming, table tennis, weightlifting, basketball and volleyball. Chinese President Hu Jintao talks with one of the gymnasts at the gymnastics stadium on Wedneday. He paid a morale-boosting visit to domestic athletes busy training for the upcoming Olympic Games, saying he was looking forward to their good performances."Your moves are clear-cut and very elegant. I wish you success at the Games," he told 16-year-old He Kexin after she performed a set of routines with perfect technique on the uneven bars at the gymnastics stadium. The teenager won two World Cup titles earlier this year.     Hu expressed his hope that the gymnasts and coaches would train hard with high efficiency to improve their competition skills.     "Keep a cool state of mind and achieve outstanding results at the Games," he told them.     The training bureau boasts 15 stadiums where athletic teams in 11 events from 14 countries were training for the Games.     At the basketball stadium, the president was attracted by the swift moves by the players of the men's national basketball team. He voiced concerns for star player Yao Ming who suffered a foot injury in February.     "The whole nation is very concerned about your foot. How is it going now?" Hu asked the star center with the Houston Rockets.     "It's okay," Yao replied. The NBA star played his second match after coming back from injury on Saturday in the eastern city of Hangzhou, scoring 16 points and seven rebounds in 20 minutes against Angola.     Hu told Yao he needed to be more careful in future training and matches.     He expressed high hopes for the men's national basketball team, which also includes NBA stars Wang Zhizhi and Yi Jianlian.     "We Chinese people pay lots of attention to basketball and expect your superb performance in matches. I hope you can show your best at the Games," Hu told them.     At the swimming stadium, Hu watched the performance of synchronized swimmers and extended gratitude to head coach Masayo Imura from Japan.     "We are here today to give a boost to your spirits," Hu told the swimmers. "We are happy to learn that you have improved rapidly under the guidance of head coach Masayo Imura. I propose that we give a big applause to her to express our sincere thanks."     The 58-year-old coach, dubbed the "godmother" of Japanese synchronized swimming, started coaching her country's synchronized swim team in 1978. She helped her swimmers to eight Olympic medals over the past 30 years.     Imura started coaching in China after the 2006 Doha Asian Games in which China dethroned long-time Asian champion Japan in both the duet and team competitions.     Last month, she reiterated her hopes for medals at the Beijing Olympics, saying Chinese swimmers would help present a modern and dynamic China with their performance.     Hu praised Imura for her coaching and role in promoting sports exchanges and friendship between China and Japan.     "I believe that China's synchronized swimming team will give an outstanding performance at the Games under the guidance of Ms. Masayo Imura."     Imura pledged she would do her utmost to lead China's team to achieve good results.     At the table tennis stadium, Hu urged on the players from a sport that China has dominated, winning 16 Olympic gold medals over the years. On the team are such top players as Wang Nan and Zhang Yining.     "I hope you can have more exchanges with athletes from other countries and regions to work together for boosting the development of table tennis in the world," he said.     "I'm looking forward to your good news."     Hu also visited the weightlifting athletes and women's volleyball players.     Athens Games weightlifting gold medal winner Chen Yanqing told the president "Just watch me at the Games!" While Feng Kun, captain of the national women's volleyball team, told Hu: "We will repay the motherland and the people with the best results."     Chinese athletes have qualified to compete in all 262 events within the 28 Olympic sports, marking the first time that the country's athletes are represented across the board at an Olympics. The Chinese national delegation at the Beijing Games will also be the largest in the country's Olympic history.     At the training venues on Wednesday, Hu also visited the athletes' dining hall and rehabilitation center, urging the cooks to continue to prepare delicious meals and the doctors to provide thoughtful services.     He also voiced strong support for anti-doping.     "Anti-doping is a precondition for hosting a successful Games," he said after signing his name on a scroll for anti-doping. "As the host nation, China is obliged to set a good example in this regard."     "We must ensure the Chinese delegation attend the Games cleanly and make positive contributions to safeguard the purity of the Olympics."     Apart from boosting morale of the country's athletes, the president had shown concerns for the preparatory work at Olympic venues.     During a visit to the eastern city of Qingdao on Sunday, the venue of the Olympic sailing event, Hu highly praised the use of renewable energy and environment-friendly material in the buildings of the Qingdao Olympic Sailing Center. He urged the center staff to make greater efforts for the preparations.     Starting in mid-June, the coast of Qingdao was coated with a vast algae coming from the Yellow Sea. A bright green covering of algae smothered beaches and extended out several hundred meters. It once covered 32 percent of the sailing venue at the peak of the outbreak.     Hu expressed satisfaction with the efforts Qingdao had made to clean the seawater and make it qualified for the sailing event, and urged local authorities to continue to keep alert.     He also encouraged Chinese athletes to achieve good results and voiced sincere welcome for foreign athletes.     "The Chinese people are showing their warm welcome to athletes from all over the world. We will do our best to provide good service for you," he told some foreign athletes who were training at the center.

BEIJING, April 4 (Xinhua) -- Some 600,000 people visited graveyards in the suburbs of Chinese capital Beijing on Friday, about triple last year's figure of 189,000, according to official statistics.     On Dec. 16, the State Council (cabinet) revised the nation's official holiday schedule to add three traditional festivals -- Qingming, Duanwu and Zhongqiu -- in response to public calls. It also changed the length of other holidays. A citizen mourns her relative in a cemetery in Guangzhou, capital of southern China's Guangdong Province, April 4, 2008. The Chinese Qingming Festival, a day two weeks after the vernal equinox, is also called the Tomb-sweeping Day, when Chinese people usually mourn their deceased relatives, pay homage to martyrs and sweep the tombs of the departed. The holiday marked on Friday was Qingming, or grave-sweeping day.     The change was intended to allow more people to pay their respects to deceased relatives on what would otherwise be a workday like Friday. No national figures on this year's tomb visits were immediately available.     Unlike Beijing, many residents of Shanghai, China's largest metropolis and one of the most densely-populated cities, have to go to neighboring cities to visit relatives' tombs. People are walking to a cemetery in the west of Beijing on Friday, April 4, 2008. The Chinese traditional Qingming Festival falls on Friday this year, which is the occasion for Chinese people to pay respect to past ancestors by cleaning their graves, presenting offerings of food, and burning joss paper.Space for the dead is at even more of a premium in Shanghai than for the living, and the city's graveyards long ago stopped accepting new remains. Suzhou, Jiangsu Province, receives 900,000 tomb-sweepers from Shanghai every year.     Friday was a day of remembrance in many areas of China. In Huangling County, Shaanxi Province, 8,000 people including some senior officials attended the annual memorial service at the tomb of Huangdi, the "Yellow Emperor" of Chinese legend.     Governor Yuan Chunqing addressed the gathering and expressed his hopes that the Beijing Olympic Games would be successful, the reunification of China would occur and the world would become harmonious.     Scholars say that Qingming has preserved the "feeling" of being Chinese across the generations.     "Traditional culture has been infused with new spirits in different eras, and this is the mysterious power of Chinese Culture," Shi Aidong of the Chinese Academy of Social Sciences, told Xinhua in an interview.     Qingming is always a day of bitter memories for residents of Nanjing, the provincial capital of Jiangsu. The Memorial Hall of the Nanjing Massacre received numerous domestic visitors -- and many from Japan.     "We, from the aggressor side of the war, want to show regret to the victims on this special day," said one of the Japanese visitors.     In December 1937, invading Japanese troops slaughtered 300,000 Chinese soldiers and civilians in the city, which was then the national capital. Many of the bodies were never properly interred, and many of the Chinese visiting the memorial on Friday have no graves to visit.     Fuzhou, the capital of Fujian Province in east China, unveiled a monument ln honor of the thousands of firefighters died on duty since 1949. It is the first such monument in the country.