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BEIJING, April 5 (Xinhua) -- Chinese President Hu Jintao and other senior leaders took part in a voluntary tree planting activity at the Olympic Forest Park here on Saturday. China's top legislator Wu Bangguo, Premier Wen Jiabao, top political advisor Jia Qinglin, as well as Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang, and Zhou Yongkang also planted trees at the park next to the national stadium, the main venue of the Beijing Olympic Games. Covering some 680 hectares in the north of Beijing, the park is a major part of the 2008 Olympics infrastructure, which is expected to improve the city's environment and air quality. Hu said during the activity that the Beijing Olympics and Paralympics are approaching. He urged Beijingers to support the Green Olympics initiative and make the city greener and more beautiful before athletes from worldwide come in August. Chinese President Hu Jintao (C) takes part in tree planting at the Olympic Forest Park in Beijing, capital of China, April 5, 2008 Beijing's air quality has been a subject of concern among some foreign athletes planning to attend the Games. However, many have acknowledged that the city has done much to improve its air quality. This is the fifth time since 2001 for top leaders to take part in planting at the park, where nearly 500,000 trees have been planted. Hu said voluntary tree planting is an effective way to get everyone involved in improving the environment. "For every tree we plant today, we gain another spot of green in the future," he said. About 2 million Beijingers took part in planting activities in the capital on Saturday, which is Beijing's 24th voluntary tree planting day.
BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty. The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months. It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001 The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03. In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion). Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year. Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see. "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China. "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added. Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year. In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd. Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said. Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent. However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long. "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China. "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.
BEIJING, Oct. 9 (Xinhua) -- Chinese Vice Premier Wang Qishan said on Thursday the country is fully confident and capable of overcoming the current economic difficulties, vowing to work closely with other countries to safeguard stability of the global financial market. Wang, in his meeting with former German Chancellor Gerhard Schroeder, said China has already taken relevant measures to face up to the turbulences of the international financial market. As the largest developing country and a rising market, China's priority is to well handle its own problems, he said. He believes China has great potential in domestic market and economic growth, adding the country would continue to take measures to maintain the stable and relatively fast economic development. "The Chinese government is to strengthen coordination with other countries to face up to the global crisis and promote the stability of the global economic and financial market," Wang told Schroeder. He appreciated the former German Chancellor's contribution to cementing bilateral ties. Regarding both countries as important trade, investment and technical cooperation partners, Wang said to further facilitate bilateral trade cooperation complies with the fundamental interests of both sides. Schroeder extended congratulations to China's full success in holding the Beijing Olympics and Paralympics. He hopes the two countries to step up cooperation in various areas to push forward bilateral ties.
BEIJING, Oct. 5 (Xinhua) -- China's National Bureau of Statistics (NBS) under new chief Ma Jiantang is likely to reform its statistical system to ensure the authenticity and timeliness of data and help the government to better cope with the uncertainties of outside economic influences, the minutes of an NBS meeting show. After his inauguration as the NBS director, Ma has said he felt pressure, but was confident of taking over "the baton of statistical reform and development." "The changing world economy, especially the financial turmoil triggered by the U.S. sub-prime mortgage crisis, had increased the uncertainties of China's macro-economic development and stability and set new tasks for statisticians," said Ma. "I would like to work with all NBS staff together to advance reforms and innovations in statistical systems, indices and methods to make sure statistical work could better serve the pursuit of scientific development to shift the target of economic expansion from quantity to quality, and building a moderately prosperous society." According to the minute, Ma gave no details of his reform plans. But his predecessor, Xie Fuzhan, who was transferred to head the Research Office of the State Council, admitted in his leaving speech that the foundation for China's statistical work remained feeble, with a lot to be done in optimizing statistical methods and management. "Both the status of statistical departments and the capability of statisticians needs to improve to meet their obligations and fulfill their tasks," Xie said. He took up the post two years ago after his predecessor Qiu Xiaohua fell over fund scandal. Authorized by the State Council to examine and calculate the economic output nationwide and to collect and compile economic figures for almost all industries and sectors, the NBS offers basic statistical information and policy advice for higher authorities and government departments. Ma, a doctor of economics who graduated from the Chinese Academy of Social Sciences, viewed authenticity and timeliness as "the lifeblood of statistics work" and "the way for statisticians to conduct themselves". He said the essence and core of statistics was to reflect facts, analyze real situations and seek truth, according to the minute. Ma also urged NBS staff to resist all fabrications of data, secure the quality of figures and work with professionalism. Under the current management system, local statistical departments serve two bosses, with the NBS giving them statistical assignments but local governments in charge of their personnel and finance. The NBS was only authorized to assist governors, municipal mayors and autonomous region chiefs in managing the heads of NBS branches. Prestige-minded local officials looking for advancement have often tested the integrity of statisticians within their jurisdiction. To remedy the situation, China's legislature revised the implementation rules of Statistics Law in 2006, which authorized NBS investigation teams to undertake independent statistical surveys and reports in all provinces, municipalities and autonomous regions. Under the Statistics Law, leading members of local authorities who alter statistical data without authorization, fabricate statistical data, compel or prompt statisticians to tamper with figures will be subject to administrative sanctions. Officials who retaliate against statisticians who refuse to fabricate data face criminal penalties. After more than two decades of sizzling growth at the cost of depleted resources, increased energy consumption and environmental damage, the Chinese economy is undergoing a tough rebalancing that puts more emphasis on quality than quantity. As global economic slowdown could dampen exports -- a major growth engine -- more than expected, the government has become increasingly careful with monetary tools like interest rates, deposit reserve ratios as well as industrial and fiscal policies so as not to plunge the expanding economy into recession. Senior decision-makers have been demanding precise and more timely statistics for earlier warnings in the event of slowdown or other ailments. Ma was appointed vice governor of Qinghai in December 2004 and used to work with the State Economic and Trade Commission and the Assets Supervision and Administration Commission of the State Council.
LHASA, Oct. 7 (Xinhua) -- At least nine people were killed in a strong earthquake that jolted a county near Lhasa, capital of southwest China's Tibet Autonomous Region, on Monday, the rescue headquarters confirmed early Tuesday morning. The previous "at least 30" death toll was inaccurate due to unauthoritative sources and needs further check. Rescuers arrived at Yangyi Village, the worst-hit site in Gedar Township of Damxung County, late Monday night after repairing the road once paralyzed in the 6.6-magnitude tremor. At least 147 houses in Yangyi and villages in a neighboring county collapsed. Rescuers recovered nine bodies from the debris, and 11 people were seriously injured while eight others received light injuries, Hao Peng, deputy chairman of the autonomous regional government and head of the rescue command, told Xinhua. More than 600 soldiers, police officers, firefighters, traffic, medical and geological experts were rushing to the quake zone. Food, drinking water, tents and other materials had been transported to the area. Rescue operation was underway. The injured were being sent to local hospitals. An earthquake measuring 6.6 on the Richter scale jolted Damxung,82 km from Lhasa, at 4:30 p.m. Monday. The epicenter was at 29.8 degrees north and 90.3 degrees east. Tremors were felt in Lhasa, but no major damages were found in buildings or historical sites there, including the famed Potala Palace and the Jokhang Temple. "We examined every palace and building right after the quake and no damages were found," said Jamba Gesang, head of the management department of the Potala Palace. A woman with her child walks past collapsed buildings in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morning The Jokhang Temple kept hosting visitors as all constructions were unaffected in the tremor. Key cultural relics also stayed intact, as the sites were far from the epicenter, said Yu Dawa, chief of the cultural heritage bureau of Tibet. A local farmer checks the damaged building in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morningThe famous Bargor Street was as bustling as usual. The Qinghai-Tibet railway and Lhasa airport remained in normal services. "The downtown area of Lhasa is relatively safe and there is no need to be panic," Zhu Quan, head of the local seismological bureau, told Xinhua. More aftershocks may hit Damxung but would not cause damages to buildings in the downtown area, Zhu said. The quake was measured at level VIII on the 12-level MMI (modified mercalli intensity) scale in the epicenter and it was felt at level V in Lhasa, Zhu said at a press conference. The MMI scale measures the intensity of an earthquake from its perceptible effects with level V indicating it could be felt by everyone and could break windows. At level VIII, a quake can result in partial collapse of ordinary buildings. "I was shaken for a few seconds, and lamps in the office swayed. Then everything returned to normal," Xinhua reporter Xue Wenxian said. Classes ended early in some schools in Lhasa. The national seismological network recorded another earthquake measuring 5.2 on the Richter Scale in the county at 8:10 p.m. Monday. The regional earthquake monitoring network said it had observed 15 aftershocks. An emergency response scheme was launched across the region soon after the quake broke out. The local government has sent a working team to guide relief operation in the quake-hit areas. The rescue headquarters asked relative authorities to release quake information to the public in time. Another 6.8-magnitude earthquake shook Tibet's neighboring region of Xinjiang on Sunday, but no casualties have yet been reported. The quake hit at 11:52 p.m., with its epicenter at 39.6 degrees north and 73.9 degrees east in a mountainous area about 100 km from the county seat of Wuqia, Kizilsu Kirgiz Autonomous Prefecture. Xinjiang earthquake monitoring network said it had observed 196aftershocks as of 1:30 p.m. on Monday, including two above magnitude 5.The debris of collapsed buildings is seen in Gedar Township of Damxung County in southwest China's Tibet Autonomous Region, Oct. 6, 2008. At least nine people were killed in a 6.6-magnitude earthquake that jolted Damxung County near Lhasa at 4:30 p.m. Monday, the rescue headquarters confirmed early Tuesday morning