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CHENGDU, Nov. 23 (Xinhua) -- China will send two giant pandas to Australia Friday for a cooperative research program.     The four-year-old male panda "Wang Wang" and three-year-old female panda "Fu Ni" will stay in Australia for 10 years, said Zhang Hemin, chief of the Wolong Nature Reserve Administration in southwest China's Sichuan Province.     "Wang Wang", which means "net" in Chinese, is 119 kg and "Fu Ni", which means "lucky girl", is 90 kg. They were quarantined on Oct. 21 for their trip to Australia.     "Wang Wang" and "Fu Ni" were transferred to the Bifengxia Giant Panda Breeding Center in Ya'an City after the Wolong Giant Panda Protection and Research Center where they were living were destroyed in the May 12 massive earthquake in 2008.     The Australian side had sent veterinaries and feeders of the two pandas to China for training. It had also set up a 10 hectares bamboo planting base, Zhang said.     The two pandas will receive a body check Tuesday before their departure.     China and Australia made an agreement in 2007 on the cooperative research.     Giant pandas, known for being sexually inactive, are among the world's most endangered animals due to shrinking habitat.     There are about 1,590 pandas living in China's wild, mostly in Sichuan and the northwestern provinces of Shaanxi and Gansu.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.

BEIJING, Oct. 28 (Xinhua) -- Chinese Vice President Xi Jinping on Wednesday called for efforts to carry on patriotism and spirit of selfless devotion for the advancement of the country's modernization drive.     Xi made the call at a seminar to mark the 120th anniversary of the birth of Li Dazhao, a founder of the Communist Party of China(CPC). Chinese Vice President Xi Jinping (R) shakes hands with a relative of Li Dazhao in Beijing, Oct. 28, 2009. A conference was held Wednesday to commemorate the 120th anniversary of the birth of Li Dazhao(1889-1927), one of the main founders of the Communist Party of China (CPC). Xi called Li a forerunner of the CPC movement, a great Marxist and an outstanding proletarian revolutionist.     Born on Oct. 29, 1889, Li was a Chinese intellectual and one of the leaders of the anti-imperialism "May Fourth Movement" in 1919.He was captured by a warlord in 1927 and then executed. Photo taken on Oct. 28, 2009 shows a scene at a conference to commemorate the 120th anniversary of the birth of Li Dazhao(1889-1927), one of the main founders of the Communist Party of China (CPC).

BEIJING, Dec. 24 (Xinhua) -- A report on the building of rural social security system was submitted Thursday to the ongoing session of the National People's Congress (NPC), China's top legislature, for deliberation.     Sun Wensheng, vice chairman of the NPC Agriculture and Rural Affairs Committee, said steady progress had been made in the development of rural social security system when delivering the report at the session of the NPC Standing Committee.     A total of 833 million rural residents, or 94 percent of the rural population, have joined the rural cooperative medical care system, up 2.5 percentage points from the beginning of this year, according to the report.     The rural cooperative medical care system, a government initiative implemented in 2005 that intended to make health services more affordable for the rural poor, had alleviated illness-caused poverty among farmers, it said.     The report said 320 counties, or 11.6 percent of the country's total, had been or would be approved to try a new rural social pension insurance system, which would benefit more than 15 million rural residents.     Under the pension system, senior rural residents will receive a monthly ole-age pension of varying amounts, which will be set by government according to the local income standards.     However, some local governments were financially challenged to implement the rural social security programs and only a relatively small percentage of migrant farmer workers were covered, Sun said.     The report was the result of a nearly four-month investigation conducted by the NPC Agriculture and Rural Affairs Committee.     Initiated in September, the investigation covered 17 provinces, municipalities and autonomous regions.

BEIJING, Dec. 2 (Xinhua) -- Heavy fog faded in most Chinese provinces after a cold front from Siberia moving south cleared up the sky on Wednesday. As a result, road, river and air traffic was finally restored after days of disruption in many parts of China.     Traffic on the Beijing-Hangzhou Grand Canal resumed at noon after 11 hours of closure, said an official from Yangzhou City of east China's Jiangsu Province Wednesday.     Nearly 100 vessels stranded in Yangzhou have entered the Yangtze River. Highrise buildings are seen shrouded by heavy fog at the financial district of Shanghai, east China, Dec. 2, 2009    But sea areas off Shanghai were still shrouded by heavy fog. In the first three quarters of this year, Shanghai Maritime Safety Administration reported 32 accidents in its administrative area, in which 13 vessels were wrecked and 20 people went missing. Direct economic loss was estimated at 39 million yuan (about five million U.S. dollars).     The administration reminded passing vessels to be ready for emergencies because of the bad weather.     Visibility in east China's Shandong Province rose to more than 1,000 meters. Delayed flights and closed highways had been resumed, said the provincial meteorological bureau.     However, the heavy fog staggered in east China's Anhui Province, north China's Shanxi Province and northwest China's Shaanxi Province on Wednesday.     Visibility was 200 to 50 meters in most parts of Anhui, where police had to reinforce traffic control on highways.     Two of the three flights canceled on Tuesday in Hefei City tookoff Wednesday, though some other flights were delayed.     Visibility in Shanxi was 100 to 20 meters on Wednesday. Flights at the Airport of Yuncheng in Shanxi were postponed.