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BEIJING, Feb. 26 (Xinhua) -- Chinese share prices registered a dramatic 3.87 percent drop Thursday as investor confidence collapsed ahead of the wary market performance and caused panic selling, analysts said.     The decline on overseas markets also had a negative effect.     The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher after the government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2,121.52 points in the afternoon session.     The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.90 points, down 463.76 points, or 5.63 percent.     Total turnover was 198.52 billion yuan (29.07 billion U.S. dollars), down from 209.05 billion yuan on Wednesday.     Losers led gainers by 841 to 34 in Shanghai and 719 to 36 in Shenzhen.     The weak performance of both the Wall Street and Hong Kong shares had cast a shadow over the mainland market, said analysts.     The financial sector, which led a market rebound Wednesday, failed to support the market in afternoon trading as it dipped 4.76 percent.     Shenzhen Development Bank, which almost fell by the 10-percent daily limit, ended up with an 8.91 percent drop to 13.8 yuan.     China Merchants Bank, which rose by 9.57 percent Wednesday, slipped4.36 percent to 14.27 yuan.     Machinery, automobiles, media and semiconductor sectors led the retreat, dropping 7.88 percent, 7.54 percent, 7.68 percent and 7.79 percent, respectively.     Non-ferrous metals also fell by 7.54 percent though the government announced a stimulus package for the industry Wednesday.     Chenzhou Mining, Corun New Energy, Tibet Mining, Advanced Technology and Materials, Western Metal Material, Sichuan Hongda and Xiamen Tungsten fell by the 10-percent daily limit.     Yongan Forestry bucked the trend, rising by the 10-percent daily limit. The forestry sector managed to close at no more than a 2 percent decline, as domestic media reported a government stimulus plan for forestry was under discussion.     China Eastern Airlines, one of the country's top three airlines, announced Thursday that its shareholders had passed a share placement plan which intended to raise 7 billion yuan from its parent company, China Eastern Group.     The company will issue 1.44 billion Shanghai-listed A shares at a price of 3.87 yuan per share, as well as 1.44 billion Hong Kong-listed H shares at 1.00 yuan each, according to the announcement.     The fund would reduce the company's asset liability ratio and improve its financial situation, said the company.     China Eastern Airlines shares were suspended Thursday.     Hong Kong shares dipped 0.85 percent to 12,894.94 points Thursday, while U.S. stocks fell Wednesday. The Dow Jones industrial average was down 80.05 points, or 1.09 percent, at 7,270.89. The Standard & Poor's 500 Index dropped 8.24 points, or 1.07 percent, to 764.90. The Nasdaq Composite Index dropped 16.40 points, or 1.14 percent, to 1,425.43.

BEIJING, March 7 (Xinhua) -- China should keep potential polluters away from the industry-heavy Yangtze river, the country's longest, by raising threshold and readjusting industrial layout, a political advisor said here Saturday.     "We must set quotas on and raise threshold for potential polluting plants along the Yangtze River to wipe out pollution from the roots," said Chen Qinghua, a member of the 11th National Committee of Chinese People's Political Consultative Conference (CPPCC), the top political advisory body.     A monthly report on China's surface water quality showed the Yangtze River was slightly polluted in December 2008 and its branches suffered medium-level pollution, according to the Ministry of Environmental Protection.     China's sizzling economy has seen a surge of heavily polluting industries along the lower valley of the Yangtze River.     Nearly 10,000 of the 21,000 chemical companies in China are along the 6,300 km-long Yangtze River, according to Chen. More than 20 chemical industry parks were under construction.     Local governments had built more than 40,000 reservoirs along the river and its branches in a scrabble for water resources, which has further degraded Yangtze's ecological system, he said.     The government was expanding domestic demand and increase investment amid the global financial crisis, he said.     "We should take the opportunity to improve sewage treatment facilities in cities, and move faster to readjust industrial layout and structure along the river," said Chen, also chief of the Jiangxi Provincial Committee of the Revolutionary Committee of the Chinese Kuomintang (RCCK), one of China's eight non-Communist parties.     China has seen a spate of industrial accidents along major rivers that disrupted water supplies in cities in recent years.     In the latest incident, at least 200,000 residents in Yancheng,a city in eastern Jiangsu Province, were deprived of tap water supply for three days last month after a chemical factory illegally dumped the disinfectant phenol into a local river.     The city mayor promised earlier this month to shut 33 of the city's 317 chemical plants to check contamination.

BEIJING, April 8 (Xinhua) -- Chinese Premier Wen Jiabao has stressed that "supervision" is one of the key missions in 2009 for government organizations to tackle corruption amid the economic crisis, according to Wen's speech script released Wednesday by the State Council.     "The impact of the global economic crisis was still amplifying. Companies' profits shrinking, financial income reducing, job situation worsening... Under such circumstances, it's of great importance for government organizations to reform and tackle any kind of corruption," Wen said.     Wen said this year supervision would be focused on whether government officials' work was quick and effective, policies and regulations practised properly, projects carried out scientifically, funds used reasonably among others.     He said any kind of fund misappropriation, unqualified buildings and other problems which closely affected people's livelihood should be strictly prevented.     Also, Wen stressed supervision in food and drug industry to avoid any safety issues involving unapproved food additives and fake and unqualified medicines.     Wen initially made those remarks at a conference on clean governance here on March 24. The highlights for his speech on that day were released Wednesday by the State Council.     Wen ordered at the conference that Party and government organizations at all levels should reduce reception expenditures this year by 10 percent over 2008, cut car purchase and maintenance fees by 15 percent on the basis of the average amount in the recent three years, and reduce expenditure for business trips abroad by 20 percent based on the average amount over the past three years.     Wen said, this year efforts will be focused on investigation and handling of corruption cases involving government organs and officials, and hard strikes will be made in cases of "collusion between officials and businesses, power-for-money deals and commercial bribery cases."     He urged tougher scrutiny over funds and projects that were closely related to people's livelihoods, such as medical insurance in rural areas, pensions, payment in arrears for migrant workers, water conservation, railroads and other forms of transportation, and urban construction.     Individuals or groups should be severely punished for making defective or harmful farm products or imposing unreasonable charges on farmers, students and patients, he said.     Wen praised the anti-corruption progress made by various government officials last year, especially in supervising and managing relief funds for the May 12 earthquake and the post-quake construction.     "Only by building a clean and efficient government can we unite everyone as an entire force to cope with the crisis and get over it," he added.     Last year, China investigated 2,687 government officials for graft, malfeasance and infringement of people's rights. Those included four people at the province or ministry level, according to a report delivered by Prosecutor-General Cao Jianming in earlier March.     Also, the government investigated 10,315 cases of commercial bribery cases committed by government workers, involving a total sum of more than 2.1 billion yuan (309 million U.S. dollars).

BEIJING, March 3 (Xinhua) -- A Taipei court has rejected here Tuesday former Taiwan leader Chen Shui-bian's appeal against his detention and ordered that he be held in custody for a further two months, starting on March 26.     According to the island's law, a defendant whose maximum, basic, potential sentence is below ten years should not be held for more than three months during trial. If necessary, courts can prolong the detention for no more than two months every time. The detaining period can be prolonged for at most three times.     However, Chen Shui-bian was accused of many corruption charges and his most severe basic sentence could be life, which made the court consider prolonging his detention more than three times.     Chen was first detained on Dec. 30, 2008.     According to the resolution made Tuesday by the Taipei court, the charges against Chen were very severe, and he had repeatedly disturbed the judicial procedure to protect himself and delay the litigation.     "Under the current circumstances, it will be very hard to hold more trials if Chen Shui-bian is not detained," the court said in the resolution.     It added that since Chen was likely to destroy or change evidence and collude with witnesses, it wouldn't be effective enough to confine his living compared to detention. "Thus Chen's appeal for repealing the detention was rejected," it said.     Chen and his wife are accused of taking bribes worth 100 million New Taiwan dollars (29 million U.S. dollars) and 6 million U.S. dollars in a corporate land procurement, and the couple are also allegedly involved in deceivingly pocketing over 104 million New Taiwan dollars of special funds. Chen and his collaborators are also accused of laundering the illegal income.

BEIJING, March 18 (Xinhua) -- China's top political advisor Jia Qinglin said Wednesday the central government had great confidence in continued prosperity and stability of the Hong Kong Special Administrative Region(HKSAR).     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks when greeting with a delegation of social workers from Hong Kong headed by Mrs. Betty Tung, wife of the SAR's former Chief Executive Tung Chee-hwa.     Mrs. Betty Tung set up the organization in 1998, mobilizing volunteers to help needy youth and women.     Jia, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, welcomed the visit of the delegation and praised its contribution to the region's prosperity and stability.     He said, "China has confidence and the ability in overcoming the global financial downturn, which brought us challenges and opportunities as well."     The mainland will always be a strong supporter of the Hong Kong SAR.