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XIAMEN, Sept. 8 (Xinhua) -- China will further open up to the world and step up its international investment cooperation, Vice Premier Wang Qishan promised here Monday. Addressing the 12th Xiamen International Trade and Investment Fair in the east Fujian Province, Wang said the country would continue to stick to the national policy of opening up, constantly improve its policies on utilizing foreign investment and investing in foreign countries, and create more space for foreign companies to develop their business in China. China's reform and opening up policy had significantly transformed the country in the past 30 years, and its accession to the World Trade Organization had further integrated it with the global economy, he said. Although the country met with severe natural disasters and an unfavorable international economic environment, its coping measures made its national economy stay healthy on the whole, he said, noting it was confident in and capable of overcoming the current difficulties and challenges. Expounding on improving its policies on utilizing foreign investment and investing in foreign countries, Wang vowed to further improve the country's investment environment including building a service-oriented government, a market of fair competition, a transparent legal environment and stable policy environment. He also stressed lifting the quality and diversifying the means of utilizing foreign investment, and encouraging domestic enterprises to invest in foreign countries. The Chinese government had always supported trade and investment liberalization and opposed protectionism in any form, he said, vowing to work with the world to eliminate trade and investment barriers and cope with various difficulties and challenges for global economic prosperity and stability. Attendants of the forum are from 120 countries and regions and seven international organizations.
BEIJING, Sept. 29 (Xinhua) -- Communist Party of China (CPC) chief Hu Jintao has urged Party members to learn the theory on socialism with Chinese characteristics more conscientiously. Hu, general secretary of the CPC Central Committee, made the remark at a seminar which was participated in Sunday afternoon by members of the Political Bureau of the CPC Central Committee. Prof. Yan Shuhan from the Party School of the CPC Central Committee and prof. Qin Xuan from the Renmin University of China delivered speeches at the seminar and put forward their views on applying the theory into practice. Presiding over the seminar, Hu said the theory on socialism with Chinese characteristics is a fundamental guideline of the Party and government for social and economic construction. Party members should understand the basic principles of the theory and use them in their practical work, he added. Hu asked Party organs at all levels to make the theory accessible and understood by every Party member and draw long-term plans to promote and develop the theory.
JIUQUAN, Gansu, Sept. 25 (Xinhua) -- Chinese President Hu Jintao congratulated the country's space scientists and taikonauts on the successful launch of the manned spacecraft Shenzhou-7 at the Jiuquan Satellite Launch Center on Thursday. "The successful launch marked the first victory of the Shenzhou-7 mission," Hu told Chinese experts and other work staff at the center after officials declared the spacecraft entered the preset orbit. "On behalf of the (Communist) Party Central Committee, the State Council and the Central Military Commission, I'd like to extend warm congratulations to all work staff and army forces participating in the mission," said Hu. Chinese President Hu Jintao (front R) shakes hands with the ground crew members after he viewed the launching of the Shenzhou-7 spaceship at the Jiuquan Satellite Launch Center in the northwestern Gansu Province on Sept. 25, 2008. "The Shenzhou-7 mission is the most representative and influential scientific and research practice of our country this year," said Hu. "It's another feat on the Chinese people's journey to ascend the peak of science and technology." He noted the country's first attempt of extra-vehicular activity entailed greater technical difficulty and urged the staff to continue their efforts. "I hope you carry on your work unremittingly and focus on the following jobs to achieve a full-scale triumph," said Hu. The Shenzhou-7 blasted off on a Long March II-F carrier rocket from the launch center in the northwestern Gansu Province at 9:10 p.m..
XI'AN, May 20 (Xinhua) -- Chinese Vice President Xi Jinping has urged local officials to help solve living difficulties for people who have suffered from a major earthquake. Xi made the call during his inspection to northwestern Shaanxi Province, in which some counties were seriously affected by the deadly quake in neighboring Sichuan Province on May 12. At Xujiaping village, Xi comforted villagers and encouraged them to resume production as early as possible. Among all 146 households of the village, 126 were affected by the quake and half of their houses were either damaged or flattened. Xi urged local officials to offer whatever they could to help the people with rebuilding their homes. The Vice President later came to a middle school, where he told the students and teachers the government had planned for the reconstruction of all quake-ravaged areas across the country. He reminded local governments to carry out serious epidemic prevention, especially the safety of water and food after the disaster. Chinese Vice President Xi Jinping (L Front) visits a quake-affected woman during his inspection at Xujiaping Village of Xujiaping Town in Lueyang County of northwest China's Shaanxi Province,in which some counties were seriously affected by the deadly quake in neighboring Sichuan Province last week, on May 20, 2008Chinese Vice President Xi Jinping (C) talks with a vegetable peddler during his inspection at Kangming District of Lueyang County of northwest China's Shaanxi Province, in which some counties were seriously affected by the deadly quake in neighboring Sichuan Province last week, on May 20, 2008.
BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty. The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months. It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001 The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03. In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion). Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year. Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see. "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China. "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added. Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year. In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd. Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said. Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent. However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long. "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China. "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.