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BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery.     The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008.     The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan    "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules."     Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year.     The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22.     "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps."     Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan.     Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs.     "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong.     "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said.     China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy.     The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues.     CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan.     Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus.     Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.

BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery.     The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008.     The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan    "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules."     Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year.     The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22.     "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps."     Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan.     Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs.     "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong.     "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said.     China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy.     The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues.     CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan.     Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus.     Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.

SINGAPORE, May 15 (Xinhua) -- China Aviation Oil said on Friday that its net profit in the first quarter of this year fell by 54.6 percent on-year to 4.1 million U.S. dollars.     The company said in a statement that revenue fell by 34.8 percent to 655.6 million U.S. dollars in the first quarter of 2009 over the same period last year.     The company said the drop was mainly due to lower jet fuel prices in the first quarter of this year, adding that it will continue to take a cautious approach to its trading activities during the global downturn.

URUMQI, July 7 (Xinhua) -- More than 60 overseas media have sent journalists to Urumqi, capital of northwest China's Xinjiang region, after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured.     "We disclosed information shortly after the incident. We welcome domestic and overseas journalists to come and see what happened," Hou Hanmin, deputy head of the publicity department of the Communist Party of China (CPC) Xinjiang regional committee, said Tuesday. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"As long as security can be guaranteed, we will try our best to arrange interviews," the official said, adding the country was moving ahead on information disclosure.     Sixty overseas news media and 80 domestic news media organizations attended a press conference Tuesday afternoon, at which the Urumqi mayor said identification of the dead in the riot is underway.     "The government adopts a much more open attitude toward the media after the incident, compared with that after the March 14 unrest in Tibet and the Sichuan earthquake last year," said Ted Plasker in fluent Chinese. He is a journalist with The Economist who has been in China since 1989. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"I saw tight security and very little traffic in the city," said Plasker, who arrived in Urumqi Monday afternoon.     "I have been to the scene and the hospitals. It's horrible to see the people drenched in blood and the shattered shops. Many people who had been attacked told me they did not understand why it happened."     Plasker said he himself wanted to know why such a violent riot had happened. Chinese and foreign journalists cover events in the street of Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"Some places in the city were surrounded by policemen and traffic control could be seen," he said. "But I understand it's for our safety."     Choi Yoo Sik, a journalist from South Korean daily Choson Ilbo, said the Chinese government was very open on the incident. "We foreign journalists can interview anybody, Han or Uygur. I have got enough information for my stories."     However, when speaking about the situation in the street, he frowned and said, "it is still dangerous at the moment."     Urumqi authorities have opened a news center, equipped with more than 50 computers with Internet access, to both Chinese and foreign journalists since Monday afternoon.

BEIJING, June 19 (Xinhua) -- A senior Chinese leader has urged local governments to make a greater effort to promote economic development and support social stability during the economic downturn.     Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the call during a five-day tour of eastern Anhui Province that ended Friday.  Zhou Yongkang (R), member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, talks to a worker at the Anqing Huanxin Group Co., LTD in Anqing, east China's Anhui Province, June 16, 2009Zhou directed local governments to faithfully implement the central authorities' policies and strive to maintain economic growth, improve people's living standards and safeguard social harmony.     Improved living standards would provide the basis of a peaceful society, while social stability was a prerequisite for economic development, he said.     He called on employers to shoulder their social responsibilities and create more jobs, and asked law enforcement personnel to offer better judicial support for creating social peace.