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BEIJING, Sept. 17 (Xinhua) -- China's securities authority Thursday began reviewing applications of the the first seven IPOs for listing on the Growth Enterprise Market (GEM), a Nasdaq-style market in China. The seven enterprises covered fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars). The review meeting was for the first time opened to journalists, who were allowed to watch the meeting for about ten minutes. The second batch of IPOs will be reviewed Friday and they plan to raise 1.13 billion yuan (165.30 million U.S. dollars), according to a report on the website of the China Securities Regulatory Commission (CSRC). IPO review meetings would be concentrated on these days, a CSRC official, who declined to be named, told Xinhua Monday. "IPO applications sent to the regulator were concentrated. The regulator had to take into consideration forming a block and guard against speculation that might push up IPO stocks prices," the official said. The CSRC started to accept applications of the GEM on July 26 and had received 155 applications for IPOs on the GEM as of Sept. 10. The CSRC has formally agreed to handle 149 enterprises' applications that aim to raise 33.61 billion yuan (4.92 billion U.S. dollars).
KABUL, Aug. 9 (Xinhua) -- A China-bound Afghan plane with Kam Airlines landed on the airport of Kandahar city in southern Afghanistan Sunday night, said sources of Kabul International Airport. An official in Kabul International Airport who was reluctant to disclose his name said the plane scheduled from Kabul, the capital city of Afghanistan, to Urumqi of northwest China's Xinjiang Uygur Autonomous Region has already landed on Kandahar airport. "The plane would return to Kabul after two hours," he added. Armored vehicles withdraw from the Urumqi airport, northwest China's Xinjiang Uygur Autonomous Region, early August 10, 2009, after the airport was restored to order. An Afghanistan plane scheduled from Kabul to China's Urumqi was reportedly bomb threatened Sunday, triggering an emergency response at the airport. The plane finally landed on the airport of Kandahar city in southern Afghanistan after China's aviation department denied its landing in UrumqiThe airport official said the plane made the unexpected landing due to some "mechanical problem". Meantime, president of Kam Airlines, Zamarai Kamgar, told Xinhua that it is the first flight day for Kam from Kabul to Urumqi and the plane was refused by Kyrgyzstan to pass its territory. The Boeing-767 plane was carrying more than 200 passengers, including five Chinese. "The plane chose to land in Kandahar city at first step because weather condition in Kabul was not suitable at that time," Kamgar added. Passengers walk in the Urumqi airport, northwest China's Xinjiang Uygur Autonomous Region, early August 10, 2009, after the airport was restored to order. An Afghanistan plane scheduled from Kabul to China's Urumqi was reportedly bomb threatened Sunday, triggering an emergency response at the airport. The plane finally landed on the airport of Kandahar city in southern Afghanistan after China's aviation department denied its landing in Urumqi "The plane has made landing efforts in Kabul airport, but failed. Maybe it is because of strong wind," a Chinese passenger named Pan Dongjie told Xinhua from Kandahar. Earlier, armed police sources in Xinjiang said the Afghan plane scheduled to Urumqi was bomb threatened. "Now all the passengers are asked to stay on board," Pan said. "I have known about the bomb threat. I want to leave the plane as soon as possible."
BEIJING, Sept. 26 (Xinhua) -- Local governments should lay stress on economy restructuring and innovation to guarantee the long-term stable and relatively fast economic growth, said Li Keqiang, Chinese Vice Premier. Li made the remarks in his recent inspection and research trip to central China's Jiangxi Province from Sept. 24 to 26. Chinese Vice Premier Li Keqiang (L) talks with a farmer in Taihe County, east China's Jiangxi Province, Sept. 24, 2009. Li made a inspection and research tour to east China's Jiangxi Province from Sept. 24 to 26"The world economy is undergoing profound changes and transition. We should base ourselves on the current realities and be more forward-looking and broad-minded," He said. Li added that China should push forward the deepening of reforms and strategic economy restructuring while maintaining the relatively fast economic growth. China's economy expanded by 7.9 percent from a year ago in the second quarter this year, faster than the 6.1 percent in the first quarter, which was the worst quarterly growth in a decade, dampened by a slump in exports. Li urged provinces in the central region to give a full play to their growth potential and advantages, take on the development opportunities of strategic importance, improve the quality of economic growth and achieve remarkable economic progress through reforms, innovation and industrial upgrading. Central China provinces should endeavor to achieve remarkable economic advancement by 2015, according to a plan passed Wednesday by the State Council, the Cabinet. The central areas include Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan provinces. Chinese Vice Premier Li Keqiang (C) talks with revolutionary veterans, their descendants, and local work models in Jinggangshan City, east China's Jiangxi Province, Sept. 24, 2009
BEIJING, OCT. 6 (Xinhua) -- China on Tuesday expressed appreciation over the Democratic People's Republic of Korea (DPRK)'s commitment to the goal of a nuclear-free Korean Peninsular and its adherence to realizing the goal through multilateral dialogues including the six-party talks. Chinese Foreign Ministry spokesman Ma Zhaoxu made the remarks in response to questions on the Korean Peninsular nuclear issue.. Chinese Premier Wen Jiabao (R) shakes hands with Kim Jong Il, top leader of the Democratic People's Republic of Korea (DPRK), during a meeting in Pyongyang, capital of the DPRK, Oct. 5, 2009. China has always supported the DPRK-U.S. bilateral dialogue aiming at increasing mutual understanding and trust, and believed all sides should adhere to the six-party talks and make joint efforts for the early resumption of the process, Ma said in a statement.
LONDON, Sept. 5 (Xinhua) -- Britain hopes to further expand cooperation with China in economic, financial and trade sectors, Business Secretary Lord Mandelson said Saturday. In a written interview with Xinhua on the eve of his visit to China, Mandelson, also the First Secretary of State, said economic and political relations between Britain and China are very strong. The High-Level Economic & Financial Dialogue would lead to collaboration in areas such as the development of financial services, the protection of intellectual property rights, and the establishment of a comprehensive social security system in China, Mandelson said. During Mandelson's visit, which begins Monday, he will give a speech at a low carbon business solution event in Beijing attended by about 250 British and Chinese companies. He will also sign a "Sustainable City" memorandum of understanding with Changsha, the capital of south central China's Hunan province. "The UK is keen to share its low carbon technology," Mandelson said, noting that Britain would like to export even more high-tech goods to China. Mandelson said the UK, by far, is the largest European investor in China and transfers much of its technology to the country through wholly owned subsidiaries and joint ventures. The business secretary expressed hope that China would improve its regulations to facilitate British companies' participation in its hi-tech sectors. China, Mandelson said, has taken every measure possible to mitigate the impact of the global financial crisis, which also has contributed to the recovery of the world economy. He called China's huge stimulus package "a very impressive commitment to rebuilding its economy and the welcome effects are already being felt." China has contributed to the rebalancing of the world economy by re-orienting its own growth model to stimulate domestic consumption, the business secretary said. Meanwhile, Mandelson also expected China to play a bigger part in pushing forward multilateral trade talks "I hope China will play an important role in achieving a conclusion to the Doha Development Round and I hope that the global recession has provided a sense of renewed urgency for this agreement", he said. As the former EU Trade Commissioner, Mandelson has never shied from voicing his objections to protectionism. Imposing tariffs on imports, he said, creates distortions in the global economy, which result in poverty and inequality. Trade is essential to the prosperity of the world economy and remains one of the main avenues open to increase productivity and growth, he said. "I hope that UK and China's joint efforts to foster closer trade and investment links in China's rapidly developing regional business centers will stimulate and serve to support new business partnerships," the business secretary said. Mandelson said China's process of gradually opening its capital market would deepen the capital and expertise available to Chinese companies as they increasingly look to expand overseas. "We are equally keen to work with the Chinese authorities and markets to enable foreign firms to list on its exchanges," he said. "We are very supportive of the State Council's desire for Shanghai to develop into a truly international financial center over the next 10 to 15 years and believe that an important step to building this profile will be the continued growth and diversification of China's capital markets." Mandelson also emphasized that there are many benefits from an internationalized Chinese yuan, which would promote greater stability in global foreign exchange markets. "A more widely traded Chinese currency will help Chinese companies win business in overseas markets," he said, "And a more market-oriented exchange rate will help China re-orient its economy towards domestic consumption, which would be in China's own interests." When it comes to the climate change issue, Mandelson noted that China is making strong efforts to reduce the growth of its greenhouse gas emissions. He pointed out that China currently aims to reduce consumption of energy per unit of GDP by 20 percent between 2005 and 2010. "Tackling climate change is a win-win business opportunity for both the UK and China," he said. Mandelson also called for international cooperation to deal with the world's other thorny issues. The global downturn has powerfully illustrated how important it is to have constructive engagement at the international level, he said. "We need international solutions to financial regulation, to tackling pollution and in fighting proliferation and terrorism. These are global challenges that require a global response," Mandelson said.