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SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday.     Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange.     Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months.     Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation.     Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan.     This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said.     The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai.     China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices.     China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan.     China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.

BEIJING, June 14 (Xinhua) -- Chinese President Hu Jintao left Beijing Sunday for the annual summit of the Shanghai Cooperation Organization (SCO) and the first meeting of BRIC (Brazil, Russia, India and China) leaders in Russia's Ural city of Yekaterinburg.     He will then pay a state visit Russia followed by state visits to Slovakia and Croatia from June 18 to June 20.     Hu's visits to the three nations are at the invitation of Russian President Dmitry Medvedev, Slovak President Ivan Gasparovic and Croatian President Stjepan Mesic.     Hu's delegation includes Ling Jihua, member of the Secretariat of the Communist Party of China (CPC) Central Committee and director of General Office of the CPC Central Committee; Wang Huning, member of the Secretariat of the CPC Central Committee and director of Policy Research Office of the CPC Central Committee; State Councilor Dai Bingguo; Foreign Minister Yang Jiechi; minister of the National Development and Reform Commission Zhang Ping; Minister of Commerce Chen Deming; Minister of Culture Cai Wu; Vice Foreign Minister Li Hui; Vice Foreign Minister He Yafei and Director of the President's Office Chen Shiju.

JINAN, May 2 (Xinhua) -- Thirteen people were confirmed dead and two others fatally injured in a fireworks explosion Saturday afternoon in east China's Shandong Province. The explosion took place at an unlicensed fireworks processing factory in Yangzhuangzi Village of Qingyun Township, Qingyun County, at 1:30 p.m. Three rooms owned by villager Yang Ziye were toppled, according to the Qingyun county government. A bulldozer works at the site of the explosion in Yangzhuangzi Village of Qingyun Township, Qingyun County in east China's Shandong Province, May 2, 2009. Thirteen people were killed and two others injured in a fireworks explosion here Saturday afternoon.    One woman villager said she heard a loud noise when explosion was happening. "Taking it for an earthquake, by instinct, I ran out of my home," said the woman. Photo taken on May 2, 2009 shows the damaged house at the site of the explosion in Yangzhuangzi Village of Qingyun Township, Qingyun County in east China's Shandong Province. Thirteen people were killed and two others injured in a fireworks explosion here Saturday afternoonWindows in other houses in the vicinity were battered, and cracks were also found with some of the houses.     The villagers said they didn't know Yang had rented his house to another person who had organized secret fireworks making around Yang's house.     Two bulldozers were continuing to comb through the debris. Identities of the dead were still unknown at the moment.     The police were hunting down for the tenant who was suspected of causing a major crime for the accident, said Gao Lixia, an official in charge of publicity with Qingyun County Committee of the Communist Party of China (CPC).     The two injured were rushed to a hospital in Binzhou, a nearby city in Shandong, for medical treatment.     Qingyun is a county in northern Shandong and is about three hours' bus ride from Jinan, the provincial capital.

WASHINGTON, April 25 (Xinhua) -- Zhou Xiaochuan, governor of the People's Bank of China, said on Saturday that positive changes have taken place in the Chinese economy, whose overall performance is better than expected.     "Facing the impact of the financial crisis, the Chinese government has promptly introduced a policy package to expand domestic demand and maintain financial stability, striving to respond to the impact of the financial crisis," said Zhou at the International Monetary and Financial Committee (IMFC) meeting held here on Saturday. Chinese Central Bank Governor Zhou Xiaochuan attends a meeting of the International Monetary and Financial Committee (IMFC) in Washington April 25, 2009. "Positive changes have appeared in the operation of the national economy, and overall performance is better than expected," said the Chinese central bank governor.     The slowdown in GDP growth has been contained, with GDP growth in the first quarter of 2009 reaching 6.1 percent, while the growth rate in industrial production has also rebounded, with industrial added value growing 5.1 percent over the same period last year, said Zhou, adding that "there are signs of gradual stabilization."     Meanwhile, Zhou warned that the Chinese economy is still facing challenges. "It should be recognized that the rebound in China's economy remains to be consolidated," he said.     "The internal and external environments are still challenging, external demand continues to shrink, the decline in export volume is relatively large, some industries have excess capacity, government revenue is falling, and employment pressures continue," he noted.     The Chinese government will continue its implementation of an aggressive fiscal policy and a moderately accommodative monetary policy, and implement the package plan in response to the crisis, said Zhou.     He stressed that the long-term economic development trend in China has not changed.     "As macroeconomic policies gradually take effect, China's economy has the conditions for maintaining relatively rapid development," he said

URUMQI, July 14 (Xinhua) -- Abdul'ahat Abdulrixit, vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said Tuesday that ethnic unity was the "basic benefit" for all the people in Xinjiang.     "Ethnic unity is the basic benefit for the 21 million people of various ethnic groups in Xinjiang... and these people have a long tradition of loving and supporting each other," Abdul'ahat Abdulrixit told Xinhua in an interview in Urumqi Tuesday.     Abdul'ahat Abdulrixit, an ethnic Uygur, was born in 1942 in northwest China's Xinjiang Uygur Autonomous Region. He joined the Communist Party of China (CPC) in 1960 and was elected CPPCC National Committee vice chairman in 2008. Abdul'ahat Abdulrixit (L), vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), receives an exclusive interview with Xinhua News Agency in Urumqi, northwest China's Xinjiang Uygur Autonomous Region, on July 14, 2009. "Ethnic unity is the basic benefit for the 21 million people of various ethnic groups in Xinjiang... and these people have a long tradition of loving and supporting each other," Abdul'ahat Abdulrixit told Xinhua here on Tuesday    "No matter whether in war or peace, people of Han and minority groups always had a strong emotional tie and they could not be separated from each other," he said.     Abdul'ahat Abdulrixit cited many heroic stories during the July5 riot in which people from Han and other ethnic groups risked their lives to save people from the violence.     According to media reports, an 81-year-old Uygur old man risked his life to save 18 people, and a Han boy named Li Huan saved more than 10 people and even captured a rioter.     "The loving relationship among us has gone through all kinds of weather and will never be destroyed by these ethnic separatists," Abdul'ahat Abdulrixit said.     He condemned the riot as an "extremely outrageous" crime organized by people who intentionally wanted to arouse ethnic conflicts and disturb social stability.     The unrest which occurred on July 5 in Urumqi, capital of Xinjiang, resulted in at least 184 deaths and left 1,680 injured.     Abdul'ahat Abdulrixit said that since the founding of the New China, health care, education, science and technology in Xinjiang had developed rapidly.  

来源：资阳报