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BEIJING, Aug. 23 (Xinhua) -- China's insurance capital investments hit 2.45 trillion yuan (358 billion U.S. dollars) in the first seven months of this year, according to the country's insurance regulator.     In July alone, the investments from insurance funds stood at 120.4 billion yuan, China Insurance Regulatory Commission (CIRC) said in a report on its website.     Of the total insurance investment value, about 332 billion yuan, or 9.8 percent, went to the stock markets by the end of the second quarter of this year.     During the same period, mutual funds investments suck 228.45 billion yuan, or 6.8 percent from the insurance capital.     A booming equities market and an optimistic attitude towards the country's stock markets had led to an increasing investments, said the CIRC.     Comparatively, in the first seven months, bank deposit of China's insurance capital decreased to 1.03 trillion yuan, 15.23 billion yuan less than in the first six months.     The CIRC's statistics also reflected a slowdown increasing rate in premium income in the first seven months. Premium income was 678.64 billion yuan, representing a small increase of 80 billion yuan than the June figure.

BEIJING, July 28 (Xinhua) -- China will cut gasoline and diesel prices from Wednesday by 220 yuan (32.4 U.S. dollars) per ton, or by about 3 percent each, the National Development and Reform Commission (NDRC) announced Tuesday.     The retail price of gasoline will drop by about 0.16 yuan per liter, and that of diesel by about 0.19 yuan per liter, the commission said in a statement issued after a news briefing. A staff member works at a gas station in Hefei, capital of east China's Anhui Province, July 28, 2009The benchmark prices of gasoline would be reduced to 6,910 yuan per tonne, and that of diesel to 6,170 yuan per ton. The price cut was in response to recent falls in global crude prices, which had dropped to 63.97 U.S. dollars per barrel from 67.8 U.S. dollars on June 30, according to the statement.     Global crude prices, despite recent rebounds, experienced consecutive falls in the first half of this month, said the statement.     The NDRC is basing its adjustment of domestic fuel prices on three kinds of global crude prices, but the commission did not reveal the structure of the three prices.     On Monday, light, sweet crude for September delivery rose 33 cents to settle at 68.38 U.S. dollars a barrel on the New York Mercantile Exchange. London Brent for September delivery rose 50 cents to 70.82 dollars a barrel on the ICE Futures exchange.     It is the sixth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1.     The Chinese government has lowered retail fuel prices in December, before the new mechanism became effective, and again in January. It also raised prices once in March and twice last month.     Under the pricing mechanism, the NDRC would consider changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 20 days.     The two price rises last month were slight, said the statement, in an effort to quell doubts over frequent price hikes.     The country's latest fuel price hike on Jan. 30 sparked widespread debate as consumers grumbled that the record domestic prices were even higher than in the United States.     However, according to the NDRC statement, post-rise prices on June 30 translated into about 60 U.S. dollars per barrel, which was 7.8 U.S. dollars lower than the international price that day.     On June 1, post-rise prices were equal to about 50 U.S. dollars a barrel, 7.6 U.S. dollars lower than the global crude price.     The NDRC raised pump prices of gasoline and diesel by 400 yuan per ton, or 7 percent and 8 percent, respectively, from June 1, and again by 600 yuan per tonne, or 9 and 10 percent, respectively, from June 30.     Such controlled rises were meant to ease the burden of downstream industries so as to help fuel a recovery in the economy, and also to cushion the negative effect of irrational rises in global crude prices, such as raises in investment of speculative capital, according to the statement.     The commission would continue to adjust domestic fuel prices "at an appropriate time", and take into account of changes in global crude prices, domestic economic situation, and demand and supply on the domestic market, said the statement. 

support to the Chinese government's measures to maintain social order and stability.     In an interview with Xinhua on Friday, Bernard Boussougou Moungonga, a researcher with a Gabonese humanities institute, said he backed the Chinese government's measures to maintain stability in Xinjiang.     Moungonga condemned the separatist forces operating outside China for attempting to split China, adding that all these schemes are doomed to fail.     It is imperative for leaders of any country to brush aside intervention by external forces and guarantee the safety of their citizens' life and property, he said.     Moungonga, who has visited Xinjiang as a visiting scholar, said he was deeply impressed by the fact that all ethnic groups in Xinjiang live in harmony and their culture and traditions are fully respected.     Syrian Ambassador to China Khalaf Al-Jarad said Friday that his country supports the Chinese government in taking necessary measures to safeguard security, stability and public order in Xinjiang.     In a written interview with Xinhua, Al-Jarad said the Syrian government fully supports China's sovereignty and territorial integrity, and is against any interference in the country's internal affairs by finding whatever excuse.     He said he had been very much impressed by Xinjiang's prosperity when he visited China in 2003 in his capacity as editor-in-chief of a Syrian newspaper.     He said that the 56 ethnic groups in China share equal rights and jointly shoulder responsibilities to develop the country.     "People of different ethnic groups in Xinjiang who believe in faith lead normal religious lives, live together in peace and harmony like brothers and sisters, and are content with their lives. This is typical of the Chinese society at large," Al-Jarad said.     The ambassador said he believed the July 5 riot was aimed at disrupting stability, undermining the harmony and close links among the various ethnic groups, and undercutting social development.     He said it was necessary for the Chinese government to take actions to protect Xinjiang's stability, restore law and order, and prevent extremists and outside forces from disrupting Xinjiang's peace and stability.     Al-Jarad said violence has nothing to do with religion, and goes against the religious doctrines of peace and fraternity.     Li Liangyi, a Singaporean expert on tourism told Xinhua that the July riot in Urumqi disrupted the harmonious development in Xinjiang, and is definitely against the will of the general public in China.     He said he is confident that the Chinese government will take measures in accordance with the law and promptly restore order in Xinjiang.     It is the responsibility of the government to maintain ethnic harmony and safeguard social stability and economic development, Li said.     A handful of people undermined social harmony in Xinjiang and caused great loss of life and property, he said, adding that their violent acts must be condemned.     In an interview with Xinhua, Yakov Berger, a senior research fellow with the Institute of Far Eastern Studies of the Russian Academy of Sciences said that the July 5 violence in Xinjiang seriously affected the stability of the region, and the Chinese government's measures to maintain social order are fully appropriate.     He said the separatist forces from inside and outside the country had plotted to create social unrest and undermine ethnic unity, so it is necessary for the Chinese government to take measures to prevent the recurrence of similar incidents.

FRANKFURT, Sept. 2 (Xinhua) -- China hopes for early resumption of the international talks on Iranian nuclear issue, Chinese Vice Foreign Minister He Yafei said in Frankfurt on Wednesday.     He made the remarks when he attended the six-nation meeting on the Iranian nuclear issue in Frankfurt. Vice foreign ministers from UN Security Council's five permanent members -- the United States, China, Russia, Britain and France, plus Germany met in Frankfurt on Wednesday, aiming to explore the solutions to tackle the thorny issue one day after Tehran said it would table a new package of proposals on the issue.     China welcomes Iran's "positive remarks" on seeking dialogue and negotiation on the nuclear issue, He was quoted as saying by a press release issued by the Chinese delegation, adding that China also appreciates the progress of the cooperation between Iran and the International Atomic Energy Agency (IAEA).     Last week, the IAEA, a UN nuclear watchdog, issued a report saying Iran has slowed production of enriched uranium and agreed to tighter monitoring of its enrichment plant.     The Chinese vice minister said China hopes that various sides to take advantage of the current favorable chances and to exert more diplomatic efforts to resume the international talks on the issue as soon as possible, so as to seek a comprehensive and long-term solution for the issue.     According to Chinese diplomats, Mr. He also met his Russian and U.S. counterparts Sergy Ryabkov and Nicholas Burns at the intervals of the meeting, exchanging views on the Iranian nuclear issue and other international issues of common concern.

FRANKFURT, Oct. 15 (Xinhua) -- How could the Chinese economy witness rapid growth for over 30 years in a row? How could its population of 1.3 billion have living standards improved sustainably? The answer is what observers across the world are dubbing the "China miracle".     On Wednesday, politicians and economists attending the "International Economists Forum" at the interval of the Frankfurt Book Fair gave their own interpretations on the "China miracle".     Former German Chancellor Gerhard Schroeder, who has long been supporting a smooth expansion of Sino-German and Sino-European relations, said Europe should regard China as a partner instead of a rival.     Europe should continue to push strategic relations between China and the European Union (EU), which would benefit both sides, said Schroeder, who visited China almost every year during his period in power.     Edmund Strother Phelps, an American economist and the winner of the 2006 Nobel Prize in Economic Sciences, stressed the significance of innovation and entrepreneurship in boosting the economic development in China.     Phelps also proposed that the Chinese government provide more conditions for encouraging innovation.     Justin Yifu Lin, senior vice president of development economics and chief economist of the World Bank, said China adopted a pragmatic, dual-track approach in the reform process, by providing transitory protection to non-viable firms in old priority sectors and liberalizing the entry to the sectors that are consistent with China's comparative advantages.     "Continuous innovation of technology and upgrading of industries are the driving forces of modern economic growth for China," Lin added.     Professor Athar Hussain, director of Asia Research Center at the London School of Economics and Political Science, is well acquainted with China through his work as a foreign expert there in 1960s.     In his lecture, Hussain praised China's achievements. He also pointed out the challenges ahead for China in its modernization drive.     Chen Ping, a professor from China's Fudan University, noted that orthodox economic architectures failed to explain the success and experience of China.     China's burgeoning growth and unprecedented development model had contributed to the human history at large, he added.

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