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BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign. These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference. The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said. The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October. However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth. CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said. CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation. The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index. From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period. The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.
BEIJING, Sept. 5 (Xinhua) -- The Communist Party of China (CPC) will launch a 1.5-year campaign from this month to learn and implement the Scientific Outlook on Development, the CPC Central Committee Political Bureau said here on Friday. The campaign aims to push Party members, especially leading Party members and government officials, to learn how to implement the Scientific Outlook on Development and carry it out effectively, a statement issued after a CPC Central Committee Political Bureau meeting said. The meeting was presided over by and CPC Central Committee General Secretary Hu Jintao, also Chinese president. As Hu explained in his keynote speech at the 17th CPC National Congress in October 2007, the guideline takes development as its essence. It puts people first as its core with comprehensive, balanced and sustainable development as its basic requirement. Overall consideration is its fundamental approach. "The Scientific Outlook on Development is an important guiding principle for China's economic and social development and a major strategic thought that we must uphold and apply in developing socialism with Chinese characteristics," said the statement. Through the campaign, the CPC expects its officials to change their way of administration that don't meet the requirements of scientific development and to find solutions for the problems that hold back its implementation and the issues people complain about most, the statement said. In the campaign, the CPC also aims to develop the administrative system that can boost scientific development and to improve the Party's ruling capability, it added. The CPC Central Committee Political Bureau asked all Party members to take part in the campaign, especially senior Party members and government heads at county level and above

BEIJING, Aug. 15 (Xinhua) -- Chinese Vice Premier Li Keqiang met here Friday with Thai Deputy Prime Minister Sanan Kachornprasart, vowing to deepen strategic cooperation between the two nations. China and Thailand are good neighbors with comprehensive common interests, Li said, noting that the two nations enjoy high-level political mutual trust, increasing cooperation in various fields and close coordination in international and regional affairs. Expressing appreciation for Thailand to value the relations with China, Li said China regards Thailand as close friend and creditable partner, and is ready to work with Thailand to achieve win-win development and to benefit the two peoples. Chinese Vice Premier Li Keqiang meets with Thai Deputy Prime Minister Sanan Kachornprasart at Great Hall of the People in Beijing, Aug. 15, 2008 Sanan spoke highly of the present situation of Thailand-China relations, saying that Thailand will make efforts to push forward the relations with China. Sanan was here on a visit to China for the Beijing Olympic Games.
TAIYUAN, Sept. 11 (Xinhua) -- Rescuers on Thursday had finished searching more than half the mud-covered areas in north China after a mud-rock slide left 128 people dead. Shanxi Provincial Government Secretary-General Wang Qingxian said about 60 percent of the area had been combed. Altogether 2,000-plus rescuers, with the aid of more than 110 excavators, were searching for survivors. He said Internet claims that hundreds of people were missing was mere speculation. "The specific figure of the people missing in the disaster has not been established yet," said Wang at a news conference. "We are still evaluating the situation." He promised timely and transparent updated casualty numbers, adding 36 people had suffered injuries. If the weather conditions allowed, searchers would finish looking for survivors in three to five days, he said. Relatives of the dead will get 200,000 yuan (29,215 U.S. dollars) each as compensation, according to the provincial government. The State Council, China's Cabinet, has set up an accident investigation team, including officials from the State Administration of Work Safety, Shanxi provincial government, Supervision Ministry, Land and Resources Ministry and All China Federation of Trade Unions. Wang Jun, the State Administration of Work Safety director, was heading the team. The government has begun examinations to more than 700 tailing ponds in the province to avoid similar accidents from happening again. There was no epidemic at the area and the injured were receiving treatment, said Gao Guoshun, the provincial health department head, at the news conference. The water there was not polluted after examination, Gao added. The disaster happened when the bank of a pond holding waste oredregs of an unlicensed mine burst. Some reports said hundreds were feared to have been buried underneath the mud, but the local government had released no figures concerning the number of missing. Wang Qingxian said the mine was purchased and transferred to a man named Zhang Peiliang when the local government auctioned it off in 2005. But Zhang did not apply for new licenses after its safety production license was suspended in 2006 and the mining license expired in 2007. "It was an accident of grave responsibility after initial analysis," said Wang Dianxue, the State Administration of Work Safety deputy head and also the investigation team deputy head. The accident occurred around 8 a.m. on Monday in a pond holding waste ore dregs of the Tashan Mine in Xiangfen County, Linfen City, which was soaked by torrential rain. In total, an area of 30.2 hectares was covered by the mud. The mud-rock flow damaged buildings, trade markets and some residences lying downstream.
Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, visits a pasture during his investigation of local stockbreeding and eco-agriculture at Mengzhai Village of Qinglong County, southwest China's Guizhou Province, May 7, 2008. Wu made an inspection tour in Guizhou on May 6-9. GUIYANG, May 9 (Xinhua) -- China's top legislator Wu Bangguo made a visit to southwest China's Guizhou Province, during which he praised the snow-hit province's reconstruction progress, talked to farmers in the fields and gave directions on local development. During his visit from May 6 to 9, Wu, Chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, urged both the government leaders in Guizhou and local people to work hard and promote sound and rapid economic and social development. Wu went to field ridges, vegetable greenhouses, coal mines and power plants, spent his time chatting with farmers and workers. Wu expressed his concerns over the disaster-hit areas, and asked relevant departments to see to the living conditions of those affected by the winter snow and harvest of the crops. He said transportation is one of the major issues that stagnate the development of the province and priority should be given to the development of transportation network. During his trip to Mengzhai village, 200 kilometers away from provincial capital Guiyang, Wu inspected local environmental-friendly projects. Wu said efforts should be made to increase farmers' income. He also stressed the importance of training more talents and bringing in more enterprises to enhance the vitality of local economy. To promote education and environmental-friendly projects is conducive to long-term sustainable development for Guizhou, said Wu.
来源:资阳报