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BRISBANE, Australia, April 4 (Xinhua) -- All the crew members are safe after a Chinese coal ship ran aground off the eastern coast of Australia on Saturday, said Chinese Consul-general in Brisbane Ren Gongping on Sunday.Ren told Xinhua that the 230-meter-long bulk coal carrier Shen Neng 1 ran aground about 70 km east of Great Keppel Island in Queensland State shortly after 5 p.m. on Saturday.The vessel, carrying 950 tons of heavy fuel oil and 65,000 tons of coal, is bound for China.Ren said he had phoned the captain of the carrier, Wang Jichang, who told Ren that drinking water and food are enough for the 23 crew members. The incident caused no injuries to the crew.The consul-general said the captain told him the incident is not serious and repair is underway.Ren added that he was very much concerned about the safety of the Chinese crew and he had contacted the local police immediately after learning the incident. The police had assured Ren that they would try their best to safeguard the crew in case of an emergency.Three police ships have reached the area and are ready to take the crew to safe place from the coal carrier.
BRASILIA, April 15 (Xinhua) -- Chinese President Hu Jintao and the leaders of Brazil, Russia and India met in Brasilia on Thursday to discuss the world economic and financial situation and other important global issues.This was the second time the four leaders met formally for a summit.The first summit of Brazil, Russia, India and China, collectively known under their acronym BRIC, convened in Yekaterinburg, Russia, last year.At the Brasilia summit, leaders of the four countries were to exchange views on major global issues, such as the world economy and financial situation, reform of the international financial system, climate change and cooperation among the four countries, Chinese diplomats said.China hopes the summit participants could discuss global issues in the spirit of mutual benefit, so as to facilitate the recovery of the world economy, safeguard the four nations' common interests and advance their cooperation, Qin Gang, a Chinese foreign ministry spokesman, said at a regular press briefing on April 1.He said that China always adopted a "positive, pragmatic, open and transparent" attitude toward cooperation with other BRIC nations.Closer cooperation and exchanges among the four nations would be conducive to increasing the influence of emerging and developing countries, and promoting the development of multilateralism, he said.As major emerging markets, the BRIC countries account for 42 percent of the world's population and 15 percent of the world's GDP. The BRIC countries have become an important force in the international community, receiving worldwide attention.
BEIJING, May 10 (Xinhua) -- China will conduct consultations with the European Union on the steel fastener trade dispute in line with the rules of the World Trade Organization's disputes settlement system, said an official with the Ministry of Commerce Monday.China's anti-dumping investigation into carbon-steel fastener imports from the EU was based on Chinese regulations and the assessment of the harm to the domestic industry, said the official.The remarks came after the EU filed a complaint Sunday against China at the World Trade Organization over Beijing's decision to impose anti-dumping measures against carbon-steel fastener imports, which included self-tapping screws, bolts and gaskets.Chinese fastener importers were required to pay a deposit to customs based on the margins -- ranging from 16.8 to 24.6 percent -- between the normal value of the products and the alleged dumping price since Dec. 28, 2009.Initial investigations by the Chinese authorities showed the EU had allegedly dumped carbon-steel fasteners on the Chinese market, which caused substantial damage to the local industry.The temporary anti-dumping measures were adopted to safeguard the legitimate rights and interests of the domestic producers, the official said.China started an anti-dumping probe into EU carbon steel fasteners on Dec. 29, 2008, after an application for a probe by the fastener branch of the China General Machine Components Industry Association on behalf of Chinese fastener producers.
BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.
BEIJING, May 20 (Xinhua) -- Senior Chinese leader Zhou Yongkang on Thursday urged the country's law-enforcement officers to strive for just and lawful handling of every legal case."We must always make efforts to optimize the criminal justice system and improve law-enforcement so each legal case is dealt with in accordance with the law," said Zhou, a Standing Committee member of the Political Bureau of the Central Committee of the Communist Party of China (CPC), at a meeting in Beijing.Zhou, who also heads the CPC Central Political and Legislative Affairs Committee, said there is still wrongful handling of legal cases which infringe upon the rights of the concerned parties and undermine the credibility of the judicial system.He called on the officials at the meeting of the Central Political and Legislative Affairs Committee to treat every legal case meticulously.In particular, he said, law-enforcement officers must apply the utmost stringent of standards when handling cases involving the death penalty.