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BEIJING, June 29 (Xinhua) -- The quake zone of Yushu in northwest China has received donations valued at over 8.5 billion yuan (about 1.25 billion U.S. dollars) as of Monday, with about 90 percent being in cash and the remaining in relief materials, said the civil affairs ministry.The ministry said in a statement that it received 2.407 billion yuan while the Qinghai provincial government of the quake zone received nearly 2 billion yuan in donations, with the Red Cross Society of China and the China Charity Federation each raising about 2 billion yuan.About ten percent of the total donations had been allocated to quake relief work along with reconstruction and restoration, the statement said.Yushu was hit by a 7.1-magnitude quake on April 14, with more than 2,200 people being killed and thousands of homes flattened.Vice Premier Hui Liangyu said on June 20 that the government would soon implement a reconstruction plan for the area, which sets a goal to accomplish major reconstruction tasks within three years.
TORONTO, Canada, June 27 (Xinhua) -- Chinese President Hu Jintao and other leaders of the Group of Twenty (G20) members gathered in Toronto on Sunday for the group's fourth summit, which will focus on ways to secure the world economic recovery and address the economic challenges and risks.At the summit, the leaders will exchange views on ways to consolidate the recovery from the global economic and financial crisis and implement commitments from previous G20 summits while laying the foundation for sustainable and balanced growth.They will discuss a wide range of issues, including the world economic situation, the European debt crisis, "the Framework for Strong, Sustainable and Balanced Growth," the reform of the international financial institutions, the global trade and the strengthening of financial regulations, said a senior Chinese official.At the Pittsburgh summit, leaders of G20 members agreed to take action to address imbalances in the global economy by launching the Framework for Strong, Sustainable and Balanced Growth. The framework committed G20 members to evaluating their national policies to ensure they are collectively consistent with more sustainable and balanced trajectories of growth.President Hu is expected to deliver a speech at the summit to explain China's propositions on the world's major economic and financial issues, such as financial reforms and balanced economic growth, said Chinese officials.The Chinese president has participated in all the previous G20 summits -- the Washington summit in November 2008, the London summit in April 2009 and the Pittsburgh summit last September.The Toronto summit is being held at a time when the world economy is recovering but economic challenges and risks remain, posing threats to healthy growth."The global economy continues to recover faster than anticipated, although at an uneven pace across countries and regions. However, the recent volatility in financial markets reminds us that significant challenges remain and underscores the importance of international cooperation," said G20 finance ministers and central bank governors in a communique when they met in Busan, the Republic of Korea, early this month to prepare for the Toronto summit.At the previous three summits, leaders of G20 members coordinated a global response to the financial and economic crisis, implemented stimulus measures to revive the world economy, and agreed on actions to strengthen financial regulation and the reform of international financial institutions. They also agreed to promote trade and resist protectionism.
BEIJING, July 7 (Xinhua) -- Agricultural Bank of China (ABC), the last of the country's largest four banks to go public, announced Wednesday that it has set its A-share initial public offering (IPO) price at 2.68 yuan per share, hitting the high end of its IPO price range.The pricing of the shares means the bank could raise up to 10.12 billion U.S. dollars via the Shanghai portion of the IPO, as a greenshoe option has been exercised to expand the deal by 15 percent to 25.57 billion shares, ABC said in a statement filed with the Shanghai Stock Exchange.ABC plans a dual listing in Shanghai and Hong Kong in mid-July to replenish its capital base after a lending spree last year.It has yet to set the final IPO price for its Hong Kong portion, where it plans to sell 25.41 billion shares, excluding an over-allotment option.ABC set the price range for the Hong Kong portion at 2.88 to 3.48 HK dollars in late June.
ZHOUQU, Gansu, Aug. 15 (Xinhua) -- Amid sirens and blaring horns, people across China Sunday stood in tribute to victims of a massive mudslide in a remote northwest town.Chinese leaders, students, workers and members of the public paused for three minutes from 10 a.m. Sunday, a week after the devastating mudslide hit Zhouqu County, in Gannan Tibetan Autonomous Prefecture of Gansu Province.At least 1,248 people have died and 496 are listed as missing.Chinese President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao and other top Chinese leaders stood and paid silent tribute to the victims at the beginning of a meeting by the Standing Committee of the Political Bureau of the Communist Party of China Central Committee held in Beijing on Sunday morning.DEEP GRIEFAt the Dongjie Village in Zhouqu, more than 5,000 rescuers and villagers stood still on the debris of mudslide, bowing their heads in commemoration of those killed in the disaster.A huge black banner hung in front of the mourners, and wreaths lay on the ground. The white lettering on the banner read, "Mourning in deep grief for deceased compatriots of the Zhouqu massive mudslide.""I only feel sad as I stand on the debris of our homes," said villager Zhang Xiujuan."Although my husband, my son and I survived, I lost more than 30 relatives in the mudslide," she said.In Dongjie, two thirds of the families were buried when the mudslide struck. And 368 of the 848 villagers died in the disaster.Before and after the three-minute tribute, rescuers including troops and medical workers continued to clear the debris, searching for bodies and spraying disinfectant in the area.Some survivors sat silently on the debris, still holding out hope that the bodies of relatives could be found.
WUHAN, Aug. 12 (Xinhua) -- Bidding farewell to their hometown for good, 499 villagers in central China's Hubei Province left their homes Wednesday morning, becoming the first group to relocate to make way for China's South-North Water Diversion Project (SNWD).Their hometown of Niuhelin District, Danjiankou City, will be submerged by 2014 under 170 meters of water."I am surprised nobody cried when the coaches left our village. Last night, we felt sorrow when the whole village gathered to have our last dinner in our hometown together," a villager surnamed Wang said.The government paid the dinner and organized a troupe of gong and drum players to cheer up the villagers.Their journey was the starting point for the nation's largest relocation program after that of the Three Gorges Hydro-Power Project, which involved the relocation of 1.27 million.The relocation for the building of the central route of the SNWD by 2014 will involve 330,000 residents - 180,000 in Hubei and 150,000 in neighboring Henan Province.The project is designed to take water from a section of China's largest river, the Yangtze, to satisfy demand in the north China's drought-prone megacities - Beijing and Tianjin.According to the government, from Wednesday until September 30, about 60,000 people will be relocated.At the farewell scene, a fleet of 15 coaches carried the villagers while 34 trucks loaded with the villagers' belongings was followed by a number of ambulances with the village's elderly, unwell and pregnant."We may set a record in terms of speed of relocation -- 60,000 people within 50 days. We want to do it fast so we can finish it before the rainy season hits," said Zeng Wenhua, mayor of Danjiangkou City.