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BEIJING, Nov. 9 (Xinhua) -- China Merchants Securities, a leading domestic brokerage firm, announced Monday that it has set its A-share initial public offering (IPO) price range between 26 yuan (3.8 U.S. dollars) and 31 yuan.     The Guangdong-based brokerage is scheduled to issue no more than 358.5 million shares, it said in a statement to the Shanghai Stock Exchange Monday.     The IPO price translates into a price to earnings (P/E) ratio between 47.18 and 56.26 times. The subscription of the company starts on Tuesday, said the company.

BEIJING, Dec. 17 (Xinhua) -- Premium of China's insurance companies hit 1.02 trillion yuan (149.6 billion U.S. dollars) in the first 11 months of this year, up 11.65 percent from a year earlier, according to the China Insurance Regulatory Commission Thursday.     The year would be the first year that China's insurance premiums exceeded 1 trillion yuan, data from the commission showed.     From January to November, premium of property insurance rose 22.28 percent year on year to 264.02 billion yuan, and that of life insurance was 757.66 billion yuan, an annual increase of 8.37percent.     The commission said the country's insurance firms were expected to eye combined profits at 46.09 billion yuan in the first 11 months, an increase of 57.45 billion yuan over the same period of last year.     Profits of the country's insurers nationwide was about 26.1 billion yuan in the first half, up 98 percent, the commission said in July.

BEIJING, Jan. 4 (Xinhua) -- Beijing saw smooth flow of traffic Monday, the first workday of 2010, after a snow storm Sunday caused traffic breakdown in the national capital.     The city's bus and subway services went smoothly on Monday, with no gridlock and serious traffic accidents reported, according to the Beijing Traffic Management Bureau.     During the peak hours on Monday morning, the Beijing Subway Operating Company dispatched 20 additional subway trains to ease the passenger flow.     The early bus of all routes started off on time in the morning, according to the Beijing Public Transport Holdings.     Most of the bus services ran smoothly, while only 19 lines leading suburban mountainous areas were suspended, it said.     From 9:00 p.m. Saturday to 8:00 a.m. Monday, more than 20,000 sanitation workers were dispatched to clean the snow in the city's main roads with 15,710 tonnes of snow-dissolving agent, said Zhang Zhiqiang, an official with the Beijing Environmental Sanitation Group Co., Ltd.     By 9:00 a.m., all expressways in Beijing reopened to traffic, while some national and municipal highways were shut down due to the slippery road conditions.     The vehicle flow in Beijing was reduced Monday after authorities announced on Sunday that classes in primary and middle schools would be suspended on Monday, and urged institutions and companies to stagger their work time.     However, transportation in eastern Shandong Province and northern Inner Mongolia Autonomous Region was seriously affected by the heavy snow.     By 9:30 a.m. Monday, many expressways in Shangdong were closed and 19 flights cancelled in the Yantai International Airport.     In Inner Mongolia, 13 trains were delayed Monday in Hohhot, the regional capital, said the Hohhot railway authorities.     The No. 1820 train, carrying more than 800 passengers, started off at 5:10 p.m. after being stranded for 12 hours, they said.

PARIS, Nov. 24 (Xinhua) -- The preparation for the 2010 Shanghai Expo has proceeded into exhibits arrangements and service operation as site constructions are mostly completed, China's representatives of Executive Committee of the Shanghai Expo announced here Tuesday in its last report of progress in the 146thGeneral Assembly of the Bureau of International Exhibition (BIE).     With less than six months ahead of the 2010 Shanghai Expo, all preparation on construction and operation are underway smoothly as scheduled, said Yang Xiong, the deputy director of the executive committee for Shanghai Expo and vice mayor of Shanghai.     Transportation infrastructures inside and outside the Expo site will basically finished by the year end and put into use by the end of next March. Supporting public utilities such as medical treatment, drinking water and communication are also steadily in progress, the report said.     Five permanent structures, namely China Pavilion, Performance Center, Expo Center Theme Pavilion and Expo Boulevard will be completed by the year ends. Twenty-six out of the 42 self-built pavilions of foreign participants have completed their structure and 37 out of 42 rented pavilions were accomplished. All the 11 joint pavilions have been completed by now.     By Dec. 1, over 3,400 rooms in apartments in the Expo Village and service apartments in the surrounding areas will be put into service, and the number will reach 6,700 at the end of the year and 7,100 by the end of next March, the report said.     "As major parts of the construction work has finished, we have shifted our focus to operation, such as service, exhibits arrangement and further design and organization of events and forums," Yang told Xinhua.     During the grand cultural events, about 20,000 sessions of various performances will be staged. To date, 200 countries and international organizations have submitted application for National Day and Honor Day events, totaling 633 performances.     The Expo is not only a carnival for China, but also a showcase for worldwide extraordinary culture and innovations. "The success of World Expo 2010 is bound to help rebuild the global confidence in economic development, and further promote international exchange and cooperation," said Wang Jinzhen, chief delegate of China to the BIE.     To provide better service for foreign participants, four management departments has formed with professionals and experts to be deployed in different zones to improve on-spot service.     Additionally, during the Expo, about 200,000 volunteers selected from current 500,000 applications will offer services in the sites, on city streets, at airports and docks for visitors from across the world.     Chinese delegation issued invitation to friends all over the world at the assembly.     "I think their preparations (for the Shanghai Expo) are progressing very very well," Secretary General of the BIE Vicente Loscertales told Xinhua. "The thing we have to do is to finish the preparation on time and open our doors on May 1 to the whole world, in which I have total and utter confidence."

BEIJING, Nov. 17 (Xinhua) -- China and the United States are committed to working together and with other countries for a successful outcome at Copenhagen summit next month, said a joint statement issued here Tuesday after talks between Chinese President Hu Jintao and his U.S. counterpart Barack Obama.     The two sides have held a constructive and productive dialogue on the issue and maintained that international cooperation is indispensible in dealing with climate change, which poses one of the greatest challenge of the time, the statement said.     Both sides concede that transition to a low-carbon economy is an opportunity to promote continued economic growth and sustainable development in all countries.     Regarding the upcoming Copenhagen summit, the two countries expressed their willingness to strive for an agreed outcome based on the principle of common but differentiated responsibilities and respective capabilities.     "The two sides, consistent with their national circumstances, resolve to take significant mitigation actions and recognized the important role that their countries play in promoting a sustainable outcome that will strengthen the world's ability to combat climate change," said the statement.     The two countries also agreed that the outcome should include the emission reduction targets of developed countries and nationally appropriate mitigation actions of developing countries, adding that it should also substantially scale up financial assistance to developing countries, promote technology development, dissemination and transfer, and pay particular attention to the needs of the poorest and most vulnerable countries to adapt to climate change.