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BEIJING, March 3 (Xinhua) -- A Taipei court has rejected here Tuesday former Taiwan leader Chen Shui-bian's appeal against his detention and ordered that he be held in custody for a further two months, starting on March 26.     According to the island's law, a defendant whose maximum, basic, potential sentence is below ten years should not be held for more than three months during trial. If necessary, courts can prolong the detention for no more than two months every time. The detaining period can be prolonged for at most three times.     However, Chen Shui-bian was accused of many corruption charges and his most severe basic sentence could be life, which made the court consider prolonging his detention more than three times.     Chen was first detained on Dec. 30, 2008.     According to the resolution made Tuesday by the Taipei court, the charges against Chen were very severe, and he had repeatedly disturbed the judicial procedure to protect himself and delay the litigation.     "Under the current circumstances, it will be very hard to hold more trials if Chen Shui-bian is not detained," the court said in the resolution.     It added that since Chen was likely to destroy or change evidence and collude with witnesses, it wouldn't be effective enough to confine his living compared to detention. "Thus Chen's appeal for repealing the detention was rejected," it said.     Chen and his wife are accused of taking bribes worth 100 million New Taiwan dollars (29 million U.S. dollars) and 6 million U.S. dollars in a corporate land procurement, and the couple are also allegedly involved in deceivingly pocketing over 104 million New Taiwan dollars of special funds. Chen and his collaborators are also accused of laundering the illegal income.

BEIJING, March 31 (Xinhua) -- China has announced the launch of a long-awaited growth enterprise board on May 1 as a new direct financing platform for innovative companies.     Companies that seek listing at the new Nasdaq-like second board should have net assets of at least 20 million yuan and be open for business for more than three years, the country's securities regulator said in a set of guidelines that was made public in the small hours Tuesday and take effect on May 1. The Shanghai Composite Index gained 15.17 points, or 0.64 percent to 2,373.21 on Nasdaq-style second board launch in China, Mar.31,2009    The China Securities Regulatory Commission also requires the issuer stay in the black for the recent two consecutive years with combined profits of at least 10 million yuan, or report profits of at least 5 million yuan for the most recent year on revenues of at least 50 million yuan, with annual revenue growth of at least 30 percent in the recent two years.     A CSRC spokesman called the move "an important measure to improve the structure of China's capital market and expand the market's depth and width."     The proposal of establishing a second board was first put forth more than a decade ago. In 2004, a mini second board for small and medium-size enterprises was set up at the Shenzhen Stock Exchange to test the waters..     Small and medium-size enterprises have long been a pillar in China's economy, which has grown to the world's third largest

BEIJING, March 14 (Xinhua) -- World media spoke highly of Premier Wen Jiabao's remarks Friday at a press conference and policies China has adopted to battle the economic crisis, saying the two just-concluded political sessions delivered "China's confidence." The two sessions are known as the Second Session of the 11th National People's Congress (NPC) and the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC).     The U.S. Chinese Biz News said in a commentary that China has worked out various measures to boost confidence in a number of fields, noting that the package of measures was unprecedented concerning its covered area, depth and influence. Chinese Premier Wen Jiabao answers questions during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday    "China's confidence" was frequently used by reporters covering the NPC and CPPCC, making it a key phrase of the two sessions, it added.     Zheng Yide, editor-in-chief of the U.S. Qiaobao, said the two political sessions spurred confidence of the world amid the unfolding economic turmoil.     China has pledged an 8-percent economic growth, and considering the important role it plays on the world platform, such commitment uplifts people's confidence not only in China's economy but also in the world economy, Zheng said.     The Paris-based Nouvelles d' Europe, the biggest Chinese newspaper in Europe, published a commentary saying "confidence" had been a key word running through the two political sessions and left a deep impression on the world.     The recurring word offered China as well as other countries an effective prescription for surviving the economic crisis.     Lianhe Zaobao, a leading Chinese-language newspaper in Singapore, said in an editorial that Wen has unequivocally said China is ready to confront even bigger challenges amid the financial crisis and can "roll out a new stimulus package at any time."     That is a promise not only to the Chinese people but to the whole world, the editorial said.     It is remarkable that China delivered such kind of determination and confidence at a time when the United States and Europe are still entrenched in their positions on measures to overhaul the global financial system, the editorial said.     Nanyang Siang Pau of Malaysia said that China has set an 8-percent economic growth target for this year.     The paper quoted Wen as saying that China's fiscal deficit is controllable and the government's debt level is safe.     China will keep its currency, the yuan, stable at a reasonable and balanced level, Wen was cited as saying. "No country in the world has the right to put pressure on the devaluation or appreciation of the Chinese currency."     Malaysia's China Press and Sin Chew Media also covered the conclusions of the two political sessions and Wen's press conference.

BERLIN, Feb. 25 (Xinhua) -- A Chinese business delegation, led by Commerce Minister Chen Deming, signed here on Wednesday a total of 37 procurement deals worth around 11 billion euros (14 billion U.S. dollars) with German companies.     According to Chen, the 37 deals are composed of two parts -- purchasing contracts, and cooperation agreements which need further negotiations.     The deals focus on engineering equipment, electronics and auto vehicles like Mercedes and BMW, Chen told a press conference.     A draft deal obtained by Xinhua showed that the Chinese side agreed to buy around 37,000 BMW cars and Mini worth 2.2 billion U.S. dollars, as well as 27,000 units of Mercedes cars.     Chen revealed that apart from the current 200-member delegation, China would send more entrepreneurs to Germany to discuss further investment in both countries.     Germany is one of China's important trading partners within the European Union (EU). In 2008, the Sino-German trade hit 115 billion U.S. dollars. Despite the world economic crisis, China and Germany have vowed to maintain the trade volume unchanged this year.     Prior to the deal-signing ceremony, more than 450 Chinese and German business representatives attended a forum on exploring cooperation opportunities.     Chen and German Economic Minister Karl-Theodor zu Guttenberg condemned trade protectionism that has cropped out amid the global economic crisis.     Chen said the procurement deals reflect China's sincere objection to trade protectionism, adding that opening the market is the proper approach to address the global economic recession.     Guttenberg lauded China's procurement, and joined Chen to slap trade protectionism.     The 37-year-old minister said Germany and China are top two exporters in the world, noting that trade protectionism is a "wrong answer" to the current global financial crisis.     Germany and China should join hands to facilitate the Doha round talks, he added.     Later on Wednesday, the Chinese delegation, composed of over 200 business representatives, flew to Zurich of Switzerland to continue their procurement tour.