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BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies.     Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009    The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years.     A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width."     The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters..     Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest

BEIJING, March 7 (Xinhua) -- Chinese President Hu Jintao said here Saturday that the current international financial crisis, despite its severe impact on China's economy, also means an opportunity for the country.     China should take the opportunity to change its development pattern and realize structural adjustment so as to maintain a steady and relatively fast economic growth, Hu said when joining a panel discussion with deputies of the National People's Congress (NPC) from south China's Guangdong Province.     "Challenge and opportunity always come together. Under certain conditions, one could be transformed into the other," Hu said. Chinese President Hu Jintao (front, 2nd R) talks to female deputies during the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China’s Guangdong Province as International Women's Day is coming, in Beijing, capital of China, March 7, 2009    Hu said China should make full use of its advantages to break the bottlenecks of development. He also called for efforts to promptly and creatively implement the policies and plans of the central government to create conditions for solid and rapid development in the future. Wu Bangguo (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), attends the panel discussion of deputies to the Second Session of the 11th NPC from east China's Shandong Province, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from Shandong Province, top legislator Wu Bangguo said to maintain economic growth is China's top priority now, and efforts should be made to boost domestic consumption so as to secure this year's economic development targets.     In face of impacts of global financial crisis, China should seek both a temporary solution and a permanent cure, and make efforts to upgrade its industry and improve competitiveness of Chinese enterprises, said Wu, chairman of the NPC Standing Committee. Chinese Premier Wen Jiabao (2nd R) attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from central China's Hubei Province, in Beijing, capital of China, March 7, 2009Premier Wen Jiabao said maintaining steady and relatively fast economic development amid the global financial crisis should be the focus of local governments.     The task can affect the overall development of the national economy and society, the people's interests, and the long-term development of the country's modernization drive, said Wen when joining NPC deputies from the central Hubei Province.     Governments at all levels should incorporate improving people's well-being into the efforts on maintaining economic growth to benefit the people and promote harmony and stability of society, Wen said.     He also urged local governments to take the opportunity to enhance their capabilities in dealing with complicated situations, keeping close contact with the public and implementing policies.     Governments should also improve their credibility among the people, Wen said. Jia Qinglin (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with members of the 11th National Committee of the CPPCC from the Communist Youth League of China, the All-China Youth Federation, the All-China Federation of Trade Unions and All-China Women's Federation, in Beijing, capital of China, March 7, 2009Top political advisor Jia Qinglin attended a joint panel discussion with political advisors from circles of trade unions, the youth league, and women's federations.     These social groups should "take initiative to resolve disputes, address depression of the public, and safeguard the rights of the employees, young people and women," he said.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), also called on them to help those with difficulties to find jobs. Li Changchun (front L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Ningxia Hui Autonomous Region, in Beijing, capital of China, March 7, 2009.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said publicity work should serve the overall objectives of ensuring economic growth, people's well-being and social stability.     During the discussion with lawmakers from northwest Ningxia Hui Autonomous Region, he called on media and cultural workers to provide "spiritual" support for economic growth amid global downturn. Chinese Vice President Xi Jinping (front L), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from south China's Hong Kong Special Administrative Region, in Beijing, capital of China, March 7, 2009Vice President Xi Jinping joined panel discussions with lawmakers from Hong Kong and Macao respectively.     Xi said the governments of both Hong Kong and Macao special administrative regions (SAR) have taken prompt and effective measures to counter the impact of global financial crisis.     He said lawmakers from Hong Kong and Macao have played a positive role in the country's political affairs since China resumed the exercise of sovereignty over the two regions in 1997 and 1999 respectively.     Xi called on the lawmakers to fully exercise their functions and powers with focus on the country's measures of maintaining economic growth and social stability. Li Keqiang (front, 2nd R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from northwest China's Xinjiang Uygur Autonomous Region, in Beijing, capital of China, March 7, 2009In a panel discussion with NPC deputies from the northwestern Xinjiang Uygur Autonomous Region, Vice Premier Li Keqiang said China can enjoy large room for economic manoeuvre due to its vast territory and the high mutual complementarity in economy between different regions.     "We should turn challenges into opportunities, boost the development of the western region, make full use of advantages (of different regions), tap the market, speed up industrial restructuring, and cultivate new economic growth areas so as to keep a steady and relatively fast economic growth," Li said.     He said Xinjiang enjoys a particularly important strategic status for the country's development and stability. Efforts should be made to secure Xinjiang's stable and prosperous development, enrich people and safeguard the frontiers and strengthen national unity and social stability, he said. He Guoqiang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from north China's Hebei Province, in Beijing, capital of China, March 7, 2009.He Guoqiang, secretary of the Communist Party of China (CPC) Central Commission for Discipline Inspection, called on officials to improve their work style in face of economic difficulties.     "We must enhance education on the officials, improve existing regulations, and step up supervision to ensure steady and relatively fast economic development," He, also member of the CPC Central Committee's Political Bureau Standing Committee, told NPC deputies from northern Hebei Province. Zhou Yongkang (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attends the panel discussion of deputies to the Second Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 7, 2009. When joining lawmakers from the northern Tianjin Municipality, Zhou Yongkang, member of the Standing Committee of the CPC Central Committee's Political Bureau, underlined the adherence to scientific decision-making approach.     He also urged officials to focus their efforts on solving issues concerning people's well-being to sustain stability and promote social harmony.

BEIJING, Feb. 4 (Xinhua) -- Chinese Vice President Xi Jinping has called for offices at all levels responsible for the research of the history of Communist Party of China (CPC) to play a more important role in improving the Party's ruling abilities.     Xi, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark at a meeting attended by officials in charge of the Party history research offices at the provincial level on Wednesday.     Xi urged the Party committees to provide financial and human resource support for those offices and encouraged Party history researchers to play stronger role in education among the Party members.     The Vice President said Party history research organs should take the opportunity in the year of 2009 when the People's Republic of China celebrates the 60th anniversary of founding.     Xi stressed that the offices should promote the Party's ruling abilities and solidify the CPC's status as the governing party.

PATTAYA, Thailand, April 11 (Xinhua) -- Chinese Premier Wen Jiabao, in an interview with Hong Kong and Macao reporters here Saturday, said that the Chinese economy showed signs of better than expected positive changes in the first quarter as a result of the economic stimulus package adopted by China.     Firstly, the domestic demand rose on a sustainable basis. Meanwhile, investment in fixed assets increased rapidly and consumer demand grew steadily and relatively rapidly. Although lower from the same period of last year, imports and exports grew on a month-on-month basis in the three-month period, Wen said.     This indicates that some sectors and enterprises in China are in a process of gradual recovery.     Secondly, industries above the designated size registered month-on-month growth, with a year-on-year increase of 3.8 percent in both January and February, and a year-on-year increase of 8.3 percent in March.     Thirdly, the purchase management index and the entrepreneur confidence index of the manufacturing industry both rose, indicating that the Chinese economy has begun to stabilize and recover in some fields, according to Wen.     And fourthly, the market confidence went up and the economy became more active over the first three months, with increases in both the stock market and housing market transaction volumes.     The positive performances in economic fields suggest that the policies adopted by the central government of China have been timely and correct, and have led to successes, the premier noted.     The premier was here to attend the Association of Southeast Asian Nations (ASEAN) related summits. The Chinese premier went back home late Saturday ahead of schedule, after the Thai government postponed the summits because of domestic political unrest.     The premier said we should see that China's economy is still facing very serious hardships, which can be attributed to the shrink of external demand and a relatively sharp fall in exports. This has negatively impacted export enterprises, export-oriented industries and export-oriented zones, and has resulted in decreases in business profit making, declines in financial revenues and heavier pressure on employment, he said.     As the international financial crisis is deepening and spreading, we should never lose vigilance, Wen warned.     As the crisis has not touched its bottom, we can hardly say that the Chinese economy alone has got out of the crisis. China cannot save the world, nor can it survive without the world, Wen said. What we should do is to exert our utmost efforts to minimize the effect of the crisis, he said.     When answering questions whether China will introduce additional economic stimulus plans, Wen said the government should now step up efforts to carry out the policies and measures of the existing stimulus package. The earlier they are put into effect, the more beneficial and active they will be, he said.     Firstly, it is imperative to release the additional investment for stimulating the economy that has been included into the budget.     Secondly, specific rules for reforming and reviving a total of ten key industries should be formulated as early as possible.     And thirdly, efforts should be made to speed up the development of the social security system, Wen said, adding that the national medical and health-care system reform launched in recent days, which has drawn international attention, should be implemented as early as possible.     At the same time, it is essential to closely follow up the changing economic situation at home and abroad, and hammer out new response plans whenever necessary, said Wen.     Priority should be given to strengthening social security, improving the people's livelihood and strengthening protection of the ecological environment, he said.     In response to questions about the trial of cross-border trade deals in the Chinese yuan, Wen said the central government has decided to test the program in the city of Shanghai, as well as four cities in south China's Guangdong province -- Guangzhou, Shenzhen, Dongguan and Zhuhai.     Hong Kong and Macao will be included in the pilot program, and ASEAN members will become the first group of foreign countries to benefit from the scheme, Wen said, adding the regulatory documents governing the pilot program will be issued in a short time, Wen said.     The program will promote Hong Kong's trade development, and will help its enterprises, including those in the Pearl River Delta region and other areas in the Chinese mainland, to stave off the risks from exchange rate fluctuations, he said.     This will invigorate Hong Kong's financial industry and underpin its position as an international financial hub, he added.     Wen said that compared with developed countries, China, as a developing country, has undergone only a short period of time in its financial reform and development, lacking both experience and talented people, and there is also room for improvement in its financial system.     At present, China allows the yuan to become convertible under the current account and it will take a long time to realize full capital account convertibility for the Chinese yuan, he said.     Answering a reporter's question on whether building Shanghai into an international financial hub will rival Hong Kong's financial status, Wen said the Chinese central government has always paid close attention to the development of Hong Kong's financial sector.     "I noticed that most of the media in Hong Kong showed support for the decision to build Shanghai into an international financial center, but lingering worries still remain," he said.     Actually, the status of an international financial center is established not by a government decision but through market competition, he said.     "I have said years ago that Hong Kong's status as an international financial center is irreplaceable due to its unique geographical advantage, a long history of financial management, extensive channels of financial operation, a full-fledged legal system and a rich pool of financial expertise," Wen said.     However, Hong Kong's status as an international financial hub also meets challenges, he said.     He added that what is imperative for the time being is to enhance regulation, maintain the stable, healthy and sustainable development of its financial sector, and to make due support for its economy.     While developing the financial sector, Hong Kong should also spare no effort to tap the potential of its economic growth such as logistics, tourism, the health sector, science and technology, education, and high-tech industries, so as to lay a foundation forthe sustained economic development, he said.     Responding to a question about the recent police investigation into Hong Kong-listed conglomerate CITIC Pacific, Wen said the issue should be addressed in accordance with the laws and financial supervision regulations of the Hong Kong Special Administrative Region, and no interference from the mainland or other parties will be allowed.     Earlier this month, Hong Kong police searched the headquarters of the company, which reported huge losses from unauthorized hedging against changes in the exchange rates of Australian dollar last year.     After all the facts are clarified, serious lessons should be drawn from this incident, including the company's management and its supervision, Wen said.     On Macao's economic growth, Premier Wen said it has a unique economy powered mainly by its gambling industry.     As the region continues to develop its gambling industry, efforts should be made to promote the region's economic diversity based on its own reality, he said.     Macao's development is somewhat restrained due to its tiny area, but the central government is currently working on a long-term development plan of the Pearl River Delta to strengthen economic ties between Guangdong Province and Macao in an effort to promote Macao's development, said the premier.     Because of Thailand's domestic situation, the Thai government on Saturday postponed the ASEAN related summits scheduled for April 11 and April 12.     Wen said his visit to Thailand was designed to enhance the friendly cooperative relations between China and ASEAN and to make joint efforts with its members to tackle the global financial crisis.     The Chinese premier said he had been aware of the situation in Thailand before his departure for the country, and his insistence on attending the summits indicated China's sincerity in this matter.

BEIJING, Feb. 7 (Xinhua) -- The Communist Party of China (CPC) has called for beefing up efforts to further push forward peaceful development of relations between the mainland and Taiwan.     A meeting on Taiwan work, held from Friday through Saturday, pointed out that major breakthrough had been made in development of relations across the Taiwan Straits in 2008.     The meeting urged doing solid job to further push forward development of cross-Straits relations and the process of cross-Straits consultations, continuing the progressive method of easy things first, difficult things later; and economic affairs first, political affairs later.     It urged consolidating the political bases that the two sides both oppose "Taiwan independence" and adhere to the "1992 Consensus", to maintain the momentum of the improving cross-Straits relations.     It urged vigorously beefing up economic exchanges and cooperation, fully realizing direct transport, postal and trade links, striving for normalization of economic relations and working for institutionalizing economic cooperation.     It orders taking effective measures to help Taiwan businesses on the mainland to overcome difficulties, implementing a series of policies that benefit Taiwan compatriots, beefing up cooperation in dealing with the international financial crisis.     It also urged vigorously pushing forward all-round exchanges, with emphasis on promoting cultural and educational exchanges and involving more Taiwan people in cross-Straits exchanges.     Jia Qinglin, member of the Standing Committee of the Political Bureau of the CPC Central Committee, attended the meeting and made a speech. Jia, who is also Chairman of the National Committee of the Chinese People's Political Consultative Conference, urged following the guidelines put forward by CPC Central Committee General Secretary Hu Jintao on Taiwan work.     The meeting was presided over by State Councilor Dai Bingguo. The Taiwan Work Office of the CPC Central Committee director Wang Yi delivered a work report at the meeting.

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