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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.

BEIJING, Aug. 6 (Xinhua) -- Senior Chinese leader Jia Qinglin urged here on Wednesday that the role of the Chinese People's Political Consultative Conference (CPPCC) in scientific and democratic policy-making should be strengthened.     "We should increase the forms of political consultation and make it an important aspect in making scientific and democratic policies," Jia, chairman of the 11th CPPCC National Committee, said at a seminar held by political advisory body.     Jia, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, stressed improving democratic supervision in three phases: information, communication and feedback.     Jia said the work in the latter half of 2008 would be extensive and tough, and he urged officials at all levels to closely track changing international economic trends and research the new issues emerging in domestic economic development. Jia Qinglin (C), Chairman of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee and a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, addresses the study meeting of Leading Party Members' Group of CPPCC’s central group held in Beijing, capital of China, on Aug. 6, 2008    He also said that senior officials should be clean-handed and wise in choosing and promoting personnel. He called on them to lead high-quality teams by setting good examples.     The three-day seminar, in celebration of the 30th anniversary of the reform and opening-up policy, ended on Wednesday. Attendees summed up their experience from recent political consultation work and discussed advice on future improvements.

GUANGZHOU/NANJING, July 4 (Xinhua) -- The first cross-Strait weekend chartered flight from China's mainland to Taiwan took off at 6:31 a.m. from Guangzhou, capital city of the southern Guangdong Province early Friday morning.     More than 100 mainland tourists aboard the Airbus A330 became the first group of people on a sight-seeing tour allowed to Taiwan amid warming cross-Strait ties. The flight has 258 passengers.     The historic flight by China Southern Airlines (CSA) is scheduled to land at Taipei Taoyuan Airport in Taiwan at 8:10 a.m. after a 1,124-km journey.     "I have been expecting to visit Taiwan, the Treasure Island, and my dream will finally come true today," mainland tourist Shi Anwei told Xinhua before boarding the plane. "I was too excited to sleep last night."     Following suit was a flight from Xiamen of eastern Fujian Province that took off at 7:16 a.m. The flight, MF881 by the Xiamen Airlines with 203 passengers, is expected to arrive at the Songshan Airport of Taipei at 8:51 a.m.     Each passenger witnessing the historical moment received a gift package from the airlines, which enclosed a model plane and map of Taiwan.     At a separate ceremony in East China's Nanjing City marking thecity as the fifth new city to conduct the cross-Strait chartered flight, Zheng Lizhong, mainland-based Association for Relations Across the Taiwan Strait (ARATS) Executive Vice Chairman, said the start of the weekend chartered flight and beginning of the mainland tourists' visit to Taiwan "is destined to open a new chapter in the cross-Straits cultural and economic communications."     A high-ranking mainland aviation official said that since Shanghai was chosen as the first city for cross-Strait flight operation five years ago, "there has been a small step each year, but they have amounted to a major step in the past five years."     "The ever more frequent and convenient flights across the Straits are not only improved means of transportation, they are also an emotional and cultural bridge for the people, and changed the way of thinking of both sides," the official said.     However, he said, real direct flight hadn't been realized yet as all of the planes flew to Taipei by way of Hong Kong.     Quoting Dr. Sun Yat-sen, the great pioneer of Chinese democratic revolution, the official said, "the real success is still in front and we need to work harder."     The first chartered flight from Nanjing started at 8:05 a.m.     Some 760 Chinese mainland tourists from Beijing, Shanghai, Nanjing, Xiamen and Guangzhou started the first weekend charter flight to Taiwan on Friday, three weeks after the mainland's Association for Relations Across the Taiwan Straits and the Taiwan-based Straits Exchange Foundation met last month.

HONG KONG, June 2 (Xinhua) -- Mainland-based telecommunications giants China Unicom and China Netcom, both listed on the Hong Kong stock exchange, announced Monday that each share of Netcom will be exchanged for 1.508 Unicom shares in a proposed merger. The rate was based on the price of China Netcom shares on the Hong Kong mainboard before their suspension from trading on May 23, with a 3 percent premium, said Tong Jilu, executive director and chief financial officer of China Unicom.     Chang Xiaobing, chairman and chief executive officer of China Unicom, also said each American depository share of China Netcom will be exchanged for 3.016 American depository shares of the new China Unicom, subject to shareholders' approval. (L-R) China Netcom CFO Li Fushen, China Netcom Chairman and CEO Zuo Xunsheng, China Unicom Chairman and CEO Chang Xiaobing and China Unicom CFO Tong Jilu join hands after announcing the merger of China Netcom and China Unicom in Hong Kong, South China, June 2, 2008. China Unicom also said it reached a framework agreement with China Telecom under which China Telecom will buy CDMA business and CDMA network from China Unicom Group.     The merger is expected to be completed in October this year after the shareholders' conferences in September if everything went ahead smoothly, Tong said.     The merged group, possibly bearing the name of China Unicom, will have an enlarged capital of 23.76 billion shares, worth a total of 439.17 billion yuan (63.28 billion U.S. dollars). It is expected to be a provider of integrated services including mobile and fixed-line telecommunications, broadband, data and value-added services.     "The merger is in line with the trend of convergence of fixed- line and mobile networks, and is expected to enable the merged group to set clear strategy," Chang said, referring to the direction for the company to pursue 3G strength.     China Unicom, currently one of the telecommunications giants in the Chinese mainland, is a far second to the largest mobile carrier China Mobile, while China Netcom is a provider of fixed line telecommunications and broadband services.     The merger was currently between the Hong Kong-listed China Unicom Limited and the China Netcom Group Corporation (Hong Kong) Limited, but not a merger between their mother companies, Chang told a press conference held in Hong Kong.     China Netcom will cease to exist as a listed firm after the merger, subject to approval from the shareholders at the company's annual conference, which is expected in September, said Zuo Xunsheng, chairman and chief executive officer of China Netcom.     Shares of both companies will resume trading on Hong Kong exchange on Tuesday.     The merger was part of a major regrouping in the Chinese telecom industry aimed at more competition by forming three providers of integrated services after regrouping.     State authorities issued an announcement on May 24, saying that they "encouraged" a regrouping of the telecom corporations to form three providers of integrated services to increase market competition. China Mobile has recently announced a proposal to buy fixed-line operator China Tietong, or Railway Telecommunications.     At a separate press conference in Hong Kong on Monday, the HongKong listed China Telecom announced that it has reached an agreement to buy the CDMA services of China Unicom, thus making it one of the three integrated services providers, too.     China Unicom also announced at the conference that it will sell its CDMA services at 43.8 billion yuan (6.31 billion U.S. dollars)and that its mother firm China Unicom Group will sell its CDMA network at 66.2 billion yuan (9.54 billion U.S. dollars) to China Telecommunications Corporation, the mother firm of China Telecom.     Speaking at a separate press conference in Hong Kong, Wang Xiaochu, chairman and chief executive officer of China Telecom, said that the deal is expected to be completed in October, subject to shareholder approval at annual conferences in September.     China Telecom will pay for the transaction in cash, Wang said, adding that he expected the CDMA part to contribute net profit as early as 2012, although the deal could impact the earnings record of the company in short term.     The regrouping will result in three separate providers of integrated services, with most of the analysts saying that they expected China Unicom to benefit the most from the regrouping whereas the strength of China Mobile could be reduced.     Others, however, said they expected China Mobile to remain the giant among the giants and retain most of its power in the mainland telecom industry.     Chang, head of China Unicom, also warned against "over optimism" about the increased strength of the merged company, saying it required long-term effort.

BEIJING, July 2 (Xinhua) -- China on Wednesday pledged its support for United Nations role of safeguarding world peace and coordinating on international issues.     Chinese President Hu Jintao said in a meeting with visiting UN Secretary-General Ban Ki-moon that the UN shoulders increasingly important responsibilities for promoting world peace and development. China was a firm supporter and important partner of the UN, Hu told Ban, pledging that the country would fully participate in UN work, carry out its due responsibilities and maintain close communication and coordination with the UN.     Hu said China agreed with necessary and rational reform of the UN based on democratic consultation and would continue its cooperation with the UN as well as support for Ban's work in a responsible and constructive manner. Chinese President Hu Jintao (R) meets with UN Secretary-General Ban Ki-moon at the Great Hall of the People in Beijing, capital of China, July 2, 2008    Ban welcomed China's constructive role in significant international and regional issues.     The UN valued China's role in promoting world peace and development, Ban said, citing China's contribution to the six-party talks on the Korean Peninsular nuclear issue and development in Africa.     The UN hoped China would play a bigger role in realizing the UN millennium objective and addressing international challenges such as climate change and food security, Ban said.     He praised China's earthquake relief work and expressed his confidence that the country would host a successful Olympic Games in August.     The UN would continue to adhere to the one-China policy, Ban added.     Chinese Premier Wen Jiabao, meeting with Ban earlier on Wednesday, said China would make active efforts to reach the Millennium Development Goals (MDGs).     China would work with the international community to help other developing nations to achieve common progress and prosperity, Wen said.     Wen said all nations should increase multilateral cooperation to cope with the global food shortage by means of assistance, finance, trade and technology. China was ready to take an active part.     China fed 22 percent of the world's population using less than nine percent of the world's land. This was a contribution to global food security, Wen said.     Ban praised China's important and constructive contribution to safeguarding world peace and common development, hoping China would play a bigger role. Chinese Premier Wen Jiabao (R) shakes hands with UN Secretary-General Ban Ki-moon at Zhongnanhai in Beijing, July 2, 2008Wen also briefed Ban on China's relief and reconstruction efforts in the earthquake-hit region, and expressed gratitude for the sympathy and assistance offered by the United Nations and Ban himself after the May 12 earthquake.     Ban arrived in Beijing Tuesday afternoon for a three-day official visit to China at the invitation of the Chinese government.     The UN chief had visited the Yingxiu township in Wenchuan County to speak to earthquake survivors on May 24.

来源：资阳报