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BEIJING, May 8 (Xinhua) -- China's top economic planner Friday announced details of the country's new oil pricing mechanism, for the first time after the new pricing system kicked in at the beginning of this year.     In a statement on its website, the National Development and Reform Commission (NDRC) said China would adjust domestic fuel prices when global crude prices reported a daily fluctuation band of more than 4 percent for 22 working days in a row.     The commission said refiners would enjoy "normal" profit when global crude prices are below 80 U.S. dollars per barrel, but would face narrower profit margins when the crude prices rise above 80 U.S. dollars per barrel.     However, fuel prices would not go further up, or only be raised by a small margin, when crude prices rise above 130 U.S. dollars per barrel, and fiscal and tax tools would be used to ensure supplies, the NDRC said.     Light, sweet crude for June delivery rose 37 cents a barrel to settle at 56.71 U.S. dollars on the New York Mercantile Exchange Thursday after reaching a six-month high of 58.57 dollars.     Crude prices staged strong rally on news of upbeat economic data in the United States, rising more than 10 percent in two weeks.     The NDRC statement also came a day after it denied an online report claiming imminent price hike.     C1 Energy, an energy information website, Thursday reported that the Chinese government would raise fuel prices as of midnight Thursday, but said later the price adjustment had been canceled, with reasons unknown.     Xu Kunlin, deputy head of NDRC's pricing department, said the new oil pricing mechanism is not to be followed "word by word" without any flexibility, when asked whether the commission would soon adjust fuel prices at a press conference held in Beijing.     "There has been pressure to raise domestic fuel prices as crude prices continued to rise," Xu said, "however, the final decision will depend on developments in crude prices in coming days."     Friday's statement did not say how the global crude prices would be measured.     Xu declined to reveal details on the basket of crude prices for evaluating international price changes, and said such details would remain a secret in a bid to prevent speculation.     The NDRC said in the statement that the government would continue to control fuel prices at the current stage, because of insufficient market competition and imperfect market mechanisms.     However, fuel prices would eventually be determined by market forces only in the long run under the new pricing mechanism, which is aimed to bring in more market forces, said the NDRC.     China's fuel prices, with taxes included, are at a relatively lower level among major oil importers, said the NDRC.     Domestic fuel prices are lower than in Japan, the Republic of Korea, India, Mongolia, and many European countries, but higher than in oil exporters in the Middle East and than some cities in the United States, according to surveys by the NDRC.     China's retail fuel prices vary in different regions. Currently, gasoline 93, the most commonly used type of gas, sells for 5.56 yuan (81.8 U.S. cents) per liter in Beijing.

BEIJING, July 4 (Xinhua) -- Chinese Vice Premier Li Keqiang Saturday urged efforts to better use geographic information so as to better serve the country's economic and social development.     Li made the remarks when attending an exhibition on maps and the achievements of China's geographic information application.     The exploration and application of geographic information and mapping since China launched its reform and opening-up policy in 1978 had played an important role in promoting the country's development, he said.     It has benefited sectors including urban and rural planning, land resources administration, environmental protection, quake-relief and national defense, according to Li.     He urged efforts to build a system of mapping and surveying in an information age and strengthen the capacity of mapping and surveying in providing service for the country's modernization drive.     The industry of geographic information should be expanded and meet multi-level and diversified market demands so as to better serve society and the people, he said.     Li also urged scientific researchers to embrace innovation in their work so as to produce more high-quality surveying and mapping instruments.

MILAN, Italy, May 19 (Xinhua) -- China's top legislator Wu Bangguo said here on Tuesday that China and Italy should explore new areas of cooperation as they face major opportunities in addressing the grim challenges of the international financial crisis.     Wu is the first chairman of the Standing Committee of the National People's Congress (NPC) who has visited Italy since 1997.He arrived in Milan on Monday evening for an official goodwill visit. Wu met with Roberto Formiconi, president of Lombard Region of Italy on Tuesday.     During the meeting, Wu said as one of the most economically vigorous regions in Italy, the Lombard Region is leading the country in carrying out cooperation with China. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Roberto Formiconi, president of Lombard Region of Italy, in Milan May 19, 2009    Wu said the international financial crisis has posed grim challenges to world economy. But at the same time, it has brought about major opportunities for expanding cooperation between China and Italy.     Wu expressed the hope that the two sides could explore new areas of cooperation in face of the challenges and step up cooperation in such fields as scientific research, clean energy and environment protection.     Formiconi said the local government and people of the Lombard Region cherish friendly feelings toward the Chinese people. He expressed appreciation of China's active response to the financial crisis, saying that China's development is encouraging and provides fresh air to the world.     Formiconi said the Lombard Region is ready to strengthen cooperation with China in such fields as economy, technology, energy efficiency, environment protection, education and tourism. He welcomes more and more Chinese companies to invest in the region.     On the 2010 Shanghai World Expo, Wu said the event is a new bright spot in China-Italy cooperation. Noting that the Shanghai World Expo is yet another global event in China after the 2008 Beijing Olympic Games, Wu said the Chinese government and the local government of Shanghai have received assistance from Italy and other members of the international community in preparing for the event.     Wu expressed the belief that the Shanghai World Expo will leave a wonderful record on the history of the event.     Milan has won the bid to host the 2015 World Expo. It has signed a memorandum of cooperation with Shanghai on staging the World Expo.     Wu hopes that the two sides could utilize this platform to expand exchanges and cooperation so as to add new vigor to China-Italy relations.     Formiconi expressed the willingness to actively participate in the Shanghai World Expo, which he regards as an important area of cooperation between the two sides. He hopes to learn the experience of Shanghai in hosting the World Expo.

BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating.     The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China.     The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company.     The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong.     Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves.     Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong.     Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy.     Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.

URUMQI, July 12 (Xinhua) -- The violence-torn Xinjiang Uygur Autonomous Region is plodding on the road to recovery amid vigilance one week after the violence in its capital city of Urumqi that left 184 people dead and 1,680 injured.     Police with riot gears were inspecting checkpoints, combing coaches for runaway suspects involved in the deadly violence.     Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, said in his tour to the autonomous region on Sunday that to maintain social stability is the top concern of the livelihood of the people of all ethnic groups in Xinjiang for the time being.     The regional government chairman Nur Berkri said in a televised speech Sunday afternoon that the number of people injured in violence on July 5 had risen to 1,680.     Altogether 216 of the 939 hospitalized are seriously injured and 74 injured fatally, he said.     An oil tank explosion occurred at a chemical plant in Urumqi Sunday morning. Police ruled out the possibility of intentional sabotage after on-the-spot investigation but said the reason of the explosion needs further investigation.     At the suburb of Aksu City, people who flocked into the Uygur bazaar, Toksun, as the local residents called it, said they had felt something different.     "There are much fewer people compared with what it was before the violence," said Tunxunjiang Tuohuniyazi, a local Uygur who were visiting the bazaar with his wife.     "On my way here, I saw a lot of policemen," he said. "But I understand it. The heavy security helps ensure our safety."     The bazaar, which boasts 3,000 stands, only saw a little more than 500 of them in business on Sunday.     Tuniyazi Yiming, a vender busy baking dumplings, said his turnover halved with number of the bazaar visitors on such a sharp decline.     The same bleak business picture could be seen in the border city of Kashgar in southern Xinjiang, where markets and bazaars reported only a few visitors.     Also hurt is the the region's tourism. Sources with the Urumqi Municipal government told Xinhua that because of the riot, 1,184 tour groups had cancelled their plans to visit the city as of Sunday.     They involved 74,218 travelers, including 10,731 tourists from overseas.     Railway authorities said Sunday that situation in the Urumqi's train terminal is normal.     The passenger volume was reported at 21,000 persons at the station on Sunday, 4,000 fewer than Saturday.     "There are no so-called 'waves of refugees' and ticket scalpers reported by some overseas journalists in the train terminal," said Chen Kai, vice chief of the South Train Station of Urumqi.     In Urumqi, thousands of youngsters have expressed their willingness to serve the city by signing up to be volunteers.     "Two days after the hotline was launched, we have received more than 1,600 calls," said Yu Yinglong, head of the Volunteer Association in Urumqi. "They volunteered to serve in hospitals and to give psychological help to those who were traumatized in the violence."     "The Koran teaches us that Muslims should be united. It teaches us to live in harmony with non-Muslims as well. Muslims and Non-Muslims should help and get along with each other on equal footing," said Xiahabuding Aihaiti, a teacher with the Xinjiang Academy of Islamic Scriptural.     (Writings by Xinhua writer Gui Tao, reportings by Xinhua staff Li Jianmin, Fu Yuncheng, Liu Hongpeng, Mao Yong, He Jun, Gu Qianjiang, Yuanye and Huang Yan in Xinjiang)  

来源：资阳报