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HAIKOU, Oct. 3 (Xinhua) -- Higos, the 17th tropical storm of the year, landed in China's southernmost Hainan Province Friday evening, local observatory said.     Higos landed at 10:15 p.m. in Longlou Town, Wenchang City, 19.6 degrees north latitude and 111.0 degrees east longitude. The wind speed at the eye of the storm was 18 meters per second, according to the Hainan Provincial Meteorological Observatory.     It was forecast to weaken and move northwest towards the coastal areas of western Guangdong Province. Delayed trucks are parked at the Xiuying port in Haikou, capital of south China's Hainan Province Oct. 3, 2008, due to the suspension of ferry service.In total, 24,115 fishing boats in the province had returned to port and coastal fisheries staff had gone home. All recreational sporting activities on the air or sea were also suspended on Friday, said Lin Mingzhong, Hainan Provincial Office for Flood, Wind and Drought Control deputy director.     He predicted Higos would have minor impact on the island as the rainfall was expected to be around 100 mm. It was likely to affect some small reservoirs as their current water level was high.     Higos was formed on Tuesday in the Pacific Ocean, coming on the heels of tropical storms Jangmi and Hagupit, which combined had killed about 20 people in China. A rescue ship waits at a port in Haikou, capital of south China's Hainan Province Oct. 3, 2008. Higos, the 17th tropical storm this year, will drop heavy rain on parts of south China's Guangdong and Hainan provinces over the next two days, the country's National Meteorological Observatory said on Thursday.

CHENGDU, June 29 (Xinhua) -- The current earthquake relief and rebuilding work have further displayed the nature and capabilities of the Communist Party of China (CPC), said Chinese Vice President Xi Jinping Sunday in a tour to quake-hit areas of Sichuan Province.     The mainstay role played by Party organizations at different levels, Party members and officials in the anti-quake campaign shows that the recent years' efforts to Party building have been "very fruitful," said Xi, also member of the Standing Committee ofthe CPC Central Committee Political Bureau.     During his 3-day inspection tour, Xi visited Youxian, Pingwu, Beichuan, Jiangyou, Dujiangyan and Wenchuan counties, which were worst hit by the May 12 earthquake. Chinese Vice President Xi Jinping (Front) looks at quake ruins in Yingxiu Town of Wenchuan County, southwest China's Sichuan Province, June 29, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe talked to ordinary quake survivors, Party members and officials, and rescuers, while visiting tents and makeshift residence buildings. He also distributed books to some students. He told construction workers from Shandong, Guangdong and all other provinces to ensure the quality of the temporary houses.     Wherever he went, Xi inquired the performances of local Party organizations and Party members in the rescue and relief work. He spoke highly of the many "Party Member Commandoes", who have won high appreciation by the people.     "(We must) ensure that where there are people still in need, anti-quake efforts and rebuilding work to be done, there are grassroots Party organizations and Party work," he said.     On Sunday afternoon, Xi presided over a workshop, to hear reports by local officials and study relief, post-quake rebuilding, and economic and social development in Sichuan. Chinese Vice President Xi Jinping (C) visits quake-affected people at a resettlement in Dujiangyan, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent daysHe said "a safe, timely and smooth relay of the Olympic Torch in Sichuan must be ensured," which will be the last leg of the torch relay only second to Beijing, host city of the 29th Olympic Games.     On the same day, Xi had a meeting with visiting delegations of the Hong Kong and Macao special administrative regions, respectively led by HK Chief Executive Donald Tsang Yam-kuen and Macao Chief Executive Ho Hau-wah. Chinese Vice President Xi Jinping (L) shakes hands with a woman as he visits quake-affected people in Pingtong Town of Pingwu County, southwest China's Sichuan Province, June 28, 2008. Xi Jinping inspected the quake relief work in Sichuan Province in the recent days.

BEIJING, Aug. 24 (Xinhua) -- Chinese President Hu Jintao on Sunday held a banquet at the Diaoyutai State Guesthouse in west Beijing to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening.     Hu said in a toast that the Beijing Olympic Games have promoted the Olympic spirit of solidarity, friendship and peace.     "The success of the Beijing Olympic Games is attributable to the concerted efforts of the Chinese people and people from the rest of the world," said Hu. Chinese President Hu Jintao (C) talks with King Carl XVI Gustaf of Sweden (2nd L) prior to a banquet at the Diaoyutai State Guesthouse in Beijing, China, Aug. 24, 2008. Chinese President Hu Jintao held a banquet Sunday to welcome foreign leaders and international dignitaries who will attend the Olympic Games closing ceremony in the evening"The glory goes to the Olympic Family, to athletes who have competed hard, to volunteers from different parts of the world and to friends the world over who have been involved in the Beijing Olympic Games in various ways," Hu said.     Calling the past 16 days "a wonderful and exciting time together," the Chinese leader said that the hosting of the Beijing Olympics will give a boost to the further development of sports in China, promote more extensive exchanges and cooperation between China and the International Olympic Family, and further enhance the mutual understanding and friendship between the Chinese people and people of all other countries.     The Beijing Olympic Games have become "a grand event of international sports competition and cultural exchanges" witnessed and joined by people of the whole world, said Hu.     Since the opening of the Beijing Games, friends from all parts of the world have come together in the Chinese capital to experience the charm of the International Olympic Movement, said the president.     "The Chinese people have greeted all the guests with great enthusiasm and shared with people from across the world the joy and happiness," he added.     He expressed sincere thanks to the International Olympic Committee (IOC) and the Olympic Family for their support and assistance, and extended heartfelt congratulations to the athletes from various countries and regions on their outstanding performances at the Beijing Games.     The president also pledged that China would work hard to guarantee the success of the Paralympic Games, scheduled to open in Beijing in early September.     "With the goal of 'Two Games, Equal Splendor,' we will deliver a high-standard Paralympic Games with distinctive features and continue to contribute our part to the development of the International Olympic Movement," he said.     He expressed the confidence that through the concerted efforts of people all over the world, the Olympic spirit will be carried forward and mankind will enjoy an even better future.     "We all look forward to the reunion in London in four years' time!" he told the guests.     Among the guests were IOC President Jacques Rogge and Honorary President Juan Antonio Samaranch, as well as leaders and dignitaries from more than 20 countries and regions.

BEIJING, Sept. 28 (Xinhua) -- Chinese Premier Wen Jiabao celebrated the successful return of Chinese taikonauts who had completed the country's third manned space mission on Sunday.     Together with other senior officials and officers at the Beijing Aerospace Control Center (BACC), Wen watched the re-entry of Shenzhou-7 space module to Earth in a live transmission. China's Shenzhou-7 spacecraft's re-entry module lands safely in north China's Inner Mongolia Autonomous Region.After the module landed in China's northern grassland and the three taikonauts Zhai Zhigang, Liu Boming, and Jing Haipeng moved out of the spaceship by themselves, Wen congratulated the victory with the technical staff members and operators in the center.     Delivering a congratulatory note from the central authorities, Wen said the mission was "a victory of the Chinese space and technological field and a monumental achievement in the socialist causes". One of the three Chinese taikonauts (R) is ready to get out of Shenzhou-7 re-entry module after their safe landing in North China's Inner Mongolia Autonomous Region on Sept. 28, 2008The taikonauts were lifted into space at 9:10 p.m. Thursday at the Jiuquan Satellite Launch Center, where the country's first twomanned space missions took off in 2003 and 2005.     The three taikonauts came back from a 68-hour flight, included a historic 20-minute spacewalk of Zhai Zhigang on Saturday. Photo taken on Sept. 28, 2008 at Beijing Space Command and Control Center in Beijing, China, shows Shenzhou-7 re-entry module being parachuted to the groundTheir spacecraft circled Earth 46 laps before descending at the Siziwang Banner in north China's Inner Mongolia Autonomous Region at 5:37 p.m. Sunday.     The taikonauts were taken to a hospital in the Inner Mongolian capital Hohhot for medical examination and would be flown to Beijing on Monday for a two-week quarantine.

BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

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