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BEIJING, June 22 (Xinhua) -- China's Ministry of Public Security has vowed to crack down on domestic and foreign online gambling organizations as a number of football gambling web sites were discovered online following the start of the World Cup in South Africa."Currently, police departments at all levels should focus on the World Cup and keep close watch on domestic and foreign online gambling groups. Dig deep for the violators behind them, seize evidence and give a hard blow to online football gambling," urged vice minister Huang Ming at a meeting Tuesday.Figures from the ministry show that Chinese police shut down 1,461 foreign gambling web sites in less than one week after the start of the 2010 World Cup."Gambling, drugs and prostitution are still rampant in some areas, causing civilians to issue strong complaints... In some places, these wrongdoings have even been conducted in board daylight." Huang added.According to Huang, law enforcement agencies at all levels will focus on entertainment venues that host prostitution, obscene performances, group gambling and drug trafficking, and violators will be severely punished.The ministry also ordered law enforcement agencies to strictly monitor local police and punish those who are slack in stopping these illegal activities in their own regions.Also at the meeting, the ministry announced a nationwide campaign on the control of guns, scheduled to end this September, in a bid to prevent gun-related crimes. E
BEIJING, July 2 (Xinhua) -- The central parity of the Renminbi (RMB), or China's currency yuan, strengthened to 6.7720 per U.S. dollar on Friday, a new record high, according to the data released by the China Foreign Exchange Trading System.China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.

BEIJING, June 19 (Xinhua) -- Total value of China's lottery sales hit 63.16 billion yuan (9.26 billion U.S. dollars) in the first five months this year, up 22.8 percent over the same period last year, the country's Ministry of Finance said Saturday.Welfare lottery sales reached 36.73 billion yuan during the same period, a year-on-year increase of 25.9 percent; sales of sports lotterieshit 26.44 billion yuan, up 18.8 percent.In May alone, sales value reached 14.44 billion yuan, up 18.7 percent year on year, a statement on the Ministry's website said.
MUMBAI, July 9 (Xinhua) -- Chinese telecom device vendors expressed their anxiety and confusion while waiting for the release of official telecom security norms with Indian government to re-gain access to the emerging market, according sources from Chinese telecom gear makers."We're now in a position of waiting and perplexity and keep active change of ideas with India telecom operators and governmental departments with the hope of swift resolution of delayed orders," said a source with China-based telecom device producer ZET Corporation on Thursday.Chinese telecom gear manufactures are worried to get a lower hand in competition with western rivals if Indian government couldn't allow their access in the first around of 3G telecom device purchase.Indian telecom operators are expected to roll out their 3G services prior to September with the auction of 3G spectrum ended on May 19."The documents on Indian telecom security norms have swelled from several pages to more than 40 pages in the process of negotiation among stakeholders,"said an official with Huawei Technologies.It's reported earlier that Indian high-level officials have allowed the access of Chinese telecom gear vendors if they obtain certificate from the third-party organization in addition to about 11 million U.S. dollars of deposit by Indian telecom operators with the government.
BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.
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