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BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened.     The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October.     In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day.     Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen.     Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said.     Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001.     The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said.     Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said.     Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low.     In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan.     Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said.     Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan.     China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday.     If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.

ASHGABAT, Aug. 29 (Xinhua) -- Chinese President Hu Jintao's three-nation tour to Central Asia has strategic significance for regional peace and stability, Chinese Foreign Minister Yang Jiechi said Friday.     The president has engaged in extensive exchange of views with the leaders of Turkmenistan, South Korea, Tajikistan and Russia on bilateral ties and major international and regional issues of common concern, reaching broad consensus, said Yang, who is accompanying Hu during the tour.     TO DEEPEN COOPERATION, STRENGTHEN TIES     After China's establishment of diplomatic ties with South Korea, Tajikistan and Turkmenistan 16 years ago, its ties with the three countries have enjoyed rapid development, and the fields of bilateral cooperation have witnessed continuous expansion.     During President Hu's visit, China issued a joint communique with South Korea and released joint statements with Tajikistan and Turkmenistan. Over 30 bilateral cooperative documents have been inked between China and the three nations.     In Seoul, Hu said China's ties with South Korea should aim at achieving common development of long term, and the two countries should share development opportunities, face challenges together, deepen comprehensive cooperation and enhance coordination and cooperation in dealing with major international and regional issues. Chinese President Hu Jintao (L Rear) and President of the Republic of Korea (ROK) Lee Myung-bak (R Rear) hold a joint press conference after their meeting at the presidential palace in Seoul, capital of the Republic of Korea, Aug. 25, 2008. Hu Jintao arrived in Seoul on Monday for a two-day state visit to ROKDuring his visit to Tajikistan, Hu said it's China's set policy to further develop the Chinese-Tajik relations of lasting friendship, equality and trust, mutual benefit and win-win outcome.     In the Turkmen capital of Ashgabat, Turkmen President Gurbanguly Berdymukhamedov called China as one of its main and reliable partners.     Both sides agreed to strengthen exchanges at various levels, deepen coordination and dialogue, promote cooperation in infrastructure and energy. Chinese President Hu Jintao (L Front) waves to people as Tajik President Emomali Rakhmon (R Front) greets him at the airport in Tajikistan's capital Dushanbe Aug. 26, 2008. Chinese President Hu Jintao arrived in Dushanbe on Aug. 26 for a state visit and to attend the 8th Shanghai Cooperation Organization (SCO) summit, scheduled for Aug. 28.South Korea, Tajikistan and Turkmenistan all reiterated their adherence to the one-China policy on the Taiwan and Tibet issues, and their support to China's efforts to safeguard sovereignty and territorial integrity.     TO PROMOTE SCO DEVELOPMENT     After years of development, the Shanghai Cooperation Organization (SCO) has become an important organization to safeguard peace and stability in Central Asia, push forward economic growth and strengthen cultural exchanges, Yang noted.     In a keynote speech at the SCO summit Thursday in Dushanbe, President Hu presented an in-depth analysis of the regional security situation and the threats and challenges confronting the SCO member states. Chinese President Hu Jintao (3rd L) poses for group photos with other leaders of the Shanghai Cooperation Organization (SCO) member states in Dushanbe, capital of Tajikistan, on Aug. 28, 2008, during the annual summit of the organizationAppealing to member states to further relations and implement the Treaty on Long-term Good-neighborliness, Friendship and Cooperation, Hu called on all sides to consolidate political mutual trust, enhance cooperation in security, economy and culture, and work together to build up regional harmony, Yang said.     The Dushanbe summit of the SCO culminated with the signing of several important documents such as the SCO Dialogue Partnership Protocol and a joint declaration, the Chinese foreign minister said.     On the sidelines of the summit, President Hu held meetings with his Russian and Kyrgyz counterparts and exchanged views on bilateral ties and international and regional issues of common concern, cementing bilateral understanding and trust, and furthering mutually beneficial cooperation, Yang said. Chinese President Hu Jintao (R) meets with his Russian counterpart Dmitry Medvedev in Dushanbe, capital of Tajikistan, Aug. 27, 2008. The Chinese and Russian presidents are in Dushanbe for Thursday's Shanghai Cooperation Organization (SCO) summit. TO CLARIFY DEVELOPMENT PATH     Throughout his tour and at the SCO summit, President Hu elaborated on China's domestic and foreign policies, emphasizing that his country's achievements in the past 30 years had sprung from its reform and opening-up policy and that its future development will also rely on the same.     The Chinese people will unswervingly continue the reform and opening-up, strive for a moderately well-off society and accelerate modernization, said Hu.     China will persistently follow the path of peaceful development and a reciprocal win-win strategy in its opening-up policy, he reiterated. Chinese President Hu Jintao (L) and Turkmen President Gurbanguly Berdymukhamedov shake hands after signing a joint statement in Ashgabat, capital of Turkmenistan, August 29, 2008Hu noted that China seeks peaceful, open and cooperative development, and endeavors to construct a harmonious world of lasting peace and common prosperity.     President Hu's three-nation tour lived up to initial expectations and was deemed as a successful visit of sticking to good-neighborliness, deepening solidarity and mutual trust and seeking mutual benefit and win-win outcome, Yang said.     Hu's tour will have a significant and far-reaching influence on upgrading China's relations with the three countries, promoting a long-term, healthy and stable development of the SCO and building up regional and international harmony, Yang concluded.

CHENGDU, Sept. 2 (Xinhua) -- Chinese Premier Wen Jiabao called the past 110 days since the May 12 quake "shocking and touching" when speaking to journalists in southwest China's quake-hit Sichuan Province on Tuesday.     "The past 110 days were days that shocked our minds, and also days that touched our hearts," said Wen. "It's not a long time, but what we did, as witnessed by people all over the world, will go down in history." Chinese Premier Wen Jiabao (C, Front) addresses a press conference in Yingxiu Town, Wenchuan, southwest China's Sichuan Province, on the morning of Sept. 2, 2008.  "Saving people was given absolute priority. We made the utmost efforts to save people's lives even if there was a slightest hope, and we never gave up," Wen recalled at an improvisatori press conference in Yingxiu Town, the epicenter of the May 12 quake.     About 84,000 people were rescued out of debris after the quake, according to Wen.     The 8.0-magnitude earthquake killed more than 69,000 people in Sichuan and neighboring provinces and left nearly 18,000 missing.     According to the quake relief headquarters under the State Council, now people in the quake zone had no problem in eating, drinking among other life necessities. No major epidemics were reported and industry and agriculture basically resumed.     The nation also demonstrated a kind of great spirit in the quake rescue and relief efforts and gained plenty of precious experiences in coping with emergencies, Wen said. "These will be more everlasting in the quake zone and in our hearts."     Citing soldiers rescuing life around the clock, volunteers taking care of survivors and local people helping each other, Wen expressed his appreciation for all the merits demonstrated on the rescuers and survivors.     Wen said the rebuilding of houses and infrastructures remained the most urgent and difficult task for relief work, citing that it took more than 100 days to fully repair the trunk road linking quake-hit Dujiangyan and Wenchuan and it required no less to keep it open as aftershocks continued to trouble the areas.     According to Wen, in October a nationwide campaign will be launched on donating clothes and quilts to the quake zone to help people there spend winter "safe and sound".     He vowed the central government would continue the relief work as best as it can along with local governments and residents.

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