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NEW YORK, Aug. 31 (Xinhua) -- Oil prices plummeted to below 70 U.S. dollars a barrel on Monday as investors were rattled by the sharp decline in China's equities market.     Light, sweet crude for October delivery lost 2.78 dollars, or 3.8 percent, to settle at 69.96 dollars a barrel on the New York Mercantile Exchange. The contract fell to the intraday low of 69.13 dollars a barrel. Global stock markets dropped broadly after China's Shanghai Composite Index dived almost 7 percent, spurring concerns about the pace of world economic recovery.     Oil prices have found support from optimism that a potential turnaround in the economy could boost flagging fuel consumption, which sent the futures up to a fresh ten-month high of 75 dollars a barrel. However, oil failed to break the 75-dollar psychological barrier and fell back to around 70 dollars a barrel as investors were worried that the market might have gotten too far ahead of the economy.     In London, Brent Crude for October delivery tumbled 3.52 dollars, or 4.8 percent, to 69.27 dollars a barrel on the ICE Futures exchange.

MOSCOW, July 24 (Xinhua) -- A senior delegation led by Chinese Vice Minister of Commerce Gao Hucheng met with Russian officials on Friday and Saturday over the sudden closure of a market in Moscow.     On June 29, some 150 Chinese merchants and a large quantity of their goods were seized in a crackdown on smuggling at the Cherkizovsky Market, Moscow's biggest wholesale market.     The market was subsequently closed, causing heavy economic loss to the Chinese merchants who operate businesses there. No word has been given as to when the market will reopen.     Gao stressed the China-Russia strategic partnership of cooperation during his consultations with Deputy Director of the Russian Federal Migration Service, Yuri Buriak, Deputy Economic Development Minister, Andrei Slepnyov, and Deputy Foreign Minister Sergei Borodavkin.     Gao also spoke of the recent state visit of Chinese President Hu Jintao to Russia, the upcoming regular China-Russia Prime Minister's meeting in Beijing in October, and celebrations marking the 60th anniversary of the establishment of diplomatic ties between the two countries.     He said under such circumstances, China and Russia should try to maintain their friendship and mutual trust, and properly handle problems arising from the development of bilateral ties.     Non-governmental trade between China and Russia has its complicated historical origins, Gao said, and the remarkable contributions of Chinese merchants to the economic prosperity of Russia, especially during difficult times, should be taken into consideration.     He said against the backdrop of the current global financial and economic crisis in particular, to deal with the abrupt shutdown of the Cherkizovsky market appropriately and scrupulously would be mutually beneficial to China and Russia.     China has no objections to Russia's crackdown on smuggling, he said, but Moscow should effectively protect the property and dignity of Chinese businessmen.     Russian officials from relevant ministries and departments all agreed that the market shutdown would not affect the long-time friendship between the two countries.     They also emphasized that the shutdown was aimed at smuggling and not against the Chinese merchants, who make up less than 40 percent of all the merchants there.     The Russian side also urged the Chinese merchants to comply with laws, and said the Moscow municipal government had started to help merchants move their goods.     Slepnyov said a collective work plan against "grey customs clearances" will soon be studied.     Gao, who arrived in Moscow on Wednesday, was accompanied by a delegation comprising of officials from the ministries of commerce and foreign affairs, the General Administration of Customs, and trade officials from Zhejiang and Fujian provinces.     The delegation has also held negotiations with the Investigation Committee of the Prosecutor General's Office, the Federal Customs Service and the Moscow municipal government.

BEIJING, Aug. 17 (Xinhua) -- China on Monday urged more efforts to push forward the rejuvenation of the country's northeast and other traditional industrial bases.     Great progress has been made in the regions since China launched the rejuvenation move more than five years ago, said attendees at a meeting of the leading group of the State Council, the Cabinet, for revitalizing the northeast and other old industrial bases. The rejuvenation strategy of old industrial bases mainly covers regions including Liaoning, Heilongjiang and Jilin provinces and the northeastern parts of Inner Mongolia Autonomous Region. Chinese Premier Wen Jiabao (L Back) presides over a meeting of the leading group of the State Council (Cabinet) for revitalizing the old industrial bases in northeast China and other regions, in Beijing, capital of China, Aug. 17, 2009. China on Monday called for more efforts to push forward the rejuvenation of the northeast and other traditional industrial bases    The northeast is a major base of grain production, heavy industry and energy resources in China. Many cities in the regions face developing challenge as their energy resources are depleted and heavy industries face the burden of restructuring.     The meeting, chaired by Premier Wen Jiabao, agreed more efforts should be spent in the regions to optimize economic structure, promote the development of modern industries, and speed up infrastructure construction, especially some major energy, transport and water conservation projects.     Great importance should be attached to promoting innovation and technological progress in enterprises and work should be urged to develop modern agriculture as well as grain production, transportation and storage to secure the national grain reserve base.     The meeting also called for efforts to tackle issues emerging from the transformation of resources-oriented cities, eco-environmental conservation, improvement of people's livelihood, regional economic cooperation and state-owned enterprise reform.

BEIJING, Oct. 9 (Xinhua) -- China's railways carried 60.75 million passengers nationwide around the seven days of National Day holidays and one day of Mid-Autumn Festival, the Ministry of Railways said on Friday.     The figure was 2.18 million more or 3.7 percent up from the same period last year, according to the ministry.     The peak transport season lasted for eleven days from Sept. 28 to Oct. 8. Passengers queue to receive security check at the subway station entrance of Beijing Railway Station in Beijing, capital of China, Oct. 7, 2009. As the National Day holidays are about to end, the railway transportation witnessed a travel peak all over the nation. China's railways carried a record high of 6.93 million people nationwide on Oct. 1, the National Day. The previous record was set on Oct. 5 in 2008 when China's railways carried 6.48 million passengers.     This year, China's National Day holidays and the Mid-Autumn Festival, a key festival in China for family re-union, overlapped. More people working far away from home chose to go back for family re-union in the eight-day holidays.

BEIJING, Aug. 24 (Xinhua) -- Chinese Vice Premier Hui Liangyu called for greater efforts to fight floods and droughts Monday at a meeting held by the State Flood Control and Drought Relief Headquarters.     Hui said governments at all levels should place priority on ensuring people's safety and taking care of people in disaster-hit regions. Chinese Vice Premier Hui Liangyu (C) addresses a meeting held by the State Flood Control and Drought Relief Headquarters in Beijing, capital of China, on Aug. 24, 2009, calling for greater efforts to fight floods and droughts    Local governments were urged to take measures to combat droughts and floods in major grain production bases and to step up monitoring of freak weather.     A severe drought has affected north China since late July as a result of insufficient rainfall and continued high temperatures, while heavy rains and typhoons have battered some other parts of the country.

来源：资阳报