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HONG KONG, Jan. 3 (Xinhua) -- Over 30 flights were canceled or delayed at Hong Kong International Airport on Sunday, due to heavy snow in the country's capital city of Beijing.     By 21:00 (1300 GMT) local time, seven departure flights to Beijing were canceled and 10 delayed. As for arrivals, eight were canceled and nine delayed, said the spokesman of the department of News Relations from the Hong Kong's Airport Authority. Flights to other cities including Dalian and Tianjing were also affected by the bad weather.     The spokesman said so far no special procedures were taken against stranded passengers for the flow stayed normal, and they would work with the airlines to smooth the situation.

HANGZHOU, Oct. 29 (Xinhua) -- China and the United States said Thursday they would not stage any new trade protection measures against each other, a significant step which lays the groundwork for the presidential summit next month.     "Both sides agreed on not introducing any new trade protection measures against each other as both vowed to oppose trade and investment protectionism and observe the related consensus of the G20 summit," Chinese Commerce Minister Chen Deming said later Thursday. Delegates attending the 20th China-US Joint Commission on Commerce and Trade (JCCT) pose for a group photo in Hangzhou, capital of east China's Zhejiang Province, Oct. 29, 2009. China and the United States on Thursday started their annual trade talks in Hangzhou. Chinese Vice Premier Wang Qishan co-chaired the meeting with Commerce Secretary Gary Locke and Trade Representative Ron Kirk of the United States. The JCCT began in 1983 as a platform for both countries to promote trade and address issues of mutual concernChen made the remarks at the end of the 20th China-U.S. Joint Commission on Commerce and Trade (JCCT) talks in China's eastern city of Hangzhou.     The comments also came at a time of increasing China-U.S. trade disputes in the past months, involving Chinese tires, cement products, U.S. poultry and others.     "The pledge is significant as it shows both countries' determination to dump punitive measures against each other and instead seek common prosperity," Niu Xinchun, a research fellow with China Contemporary International Studies Institute, told Xinhua.     "As influential powers, China and the United States should stand firmly against all types of trade protectionism, promote both countries' economies and help lift the world out of recession," Chinese Vice Premier Wang Qishan told the opening session of the JCCT Thursday noon.     Wang co-chaired the 20th JCCT talks with U.S. Commerce Secretary Gary Locke and U.S. Trade Representative Ron Kirk in a lakeside garden compound in the capital of east China's Zhejiang province.     Locke highlighted the significance of this year's talks, saying it is the first JCCT meeting of President Obama's administration and comes a few weeks ahead of President Obama's first visit to China.     Wang said President Obama's visit in mid November will "provide new opportunities for China-U.S. cooperation."     "In a spirit of candor and understanding, hopefully both sides will discuss issues of mutual concern and achieve fruitful results at today's JCCT meeting," Wang said.     "It is critical that we make definite, concrete, demonstrable progress today to demonstrate that U.S. and China can work together to achieve results from the JCCT," Locke said.     Later Thursday, the U.S. commerce chief lauded the one-day JCCT talks as "successful," as both sides "made very significant progress on a number of issues."     Locke said China will drop a requirement that most of the components of wind power-related equipment be made in China.     "The United States agreed to delete some articles in its bill which limited China's poultry exports for six years," Chinese Minister of Agriculture Sun Zhengcai said in response to a Xinhua's question.     In return, China will resume imports of pork products from the A/H1N1 flu-hit areas in the United States, Sun said.     As for trade imbalance, China's commerce chief said both sides agreed at the JCCT talks that the solution was not to limit China's exports to the United States, but strike a balance by aggressively boosting bilateral trade.

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.

SHANGHAI, Nov. 15 (Xinhua) -- U.S. President Barack Obama arrived in China's economic hub Shanghai on Sunday night, starting a state visit to China.     Air Force One touched down at the Shanghai Pudong International Airport in heavy rain at about 23:10.     This is Obama's first state visit to China since he assumed the presidency in January. He is also the first U.S. president who paid a state visit to China within one year in office.     This year marks the 30th anniversary of diplomatic ties between the People's Republic of China and the United States.     U.S. Secretary of State Hillary Clinton, Permanent Representative to the United Nations Susan Rice and National Security Advisor James Jones also arrived in Shanghai Sunday night. U.S. President Barack Obama arrives in Shanghai on Nov. 15, 2009 to begin his first state visit to ChinaPresident Obama will meet with local officials on Monday and have a dialogue with Chinese youth, during which he is supposed to answer questions from netizens via Xinhuanet, a news website of the Xinhua News Agency on Monday.     He will leave Shanghai Monday afternoon for Beijing, where he will hold talks with Chinese President Hu Jintao and meet with other Chinese leaders.     Leaders of the two countries are expected to discuss bilateral ties and major international and regional issues of common concern, according to diplomatic sources. A girl presents a bouquet to U.S. President Barack Obama after he arrives at Shanghai Pudong International Airport on Nov. 15, 2009Presidents of the two countries have met several times since Obama took office.     They agreed to forge positive, cooperative and comprehensive ties in the 21st century during their first meeting on the sidelines of the Group of 20 financial summit in London in April and pledged to further such relations in another meeting five months later in New York.     Obama's visit to China will be of great significance for the development of Sino-U.S. ties in the new era, Chinese Foreign Minister Yang Jiechi said Saturday.

BEIJING, Nov. 27 (Xinhua) -- China's promise on its carbon dioxide emissions cut target was "a serious and solemn one," said Premier Wen Jiabao here Friday.     Wen made the remarks in a meeting with representatives from India, South Africa, Brazil and the G77 group of developing nations, who were here for consultations with China on climate change issues. The State Council, or the Chinese cabinet, announced Thursday that China was going to reduce the intensity of carbon dioxide emissions per unit of GDP in 2020 by 40 to 45 percent compared with the level of 2005. Chinese Premier Wen Jiabao (2nd, R) meets with representatives from India, South Africa, Brazil and the G77 group of developing nations, who are here for consultations with China on climate change issues, in Beijing, China, Nov. 27, 2009.     Wen told the foreign representatives that the Chinese government set down the task plan"based on our own national conditions and long-term interests," and "in the spirit of being responsible for the welfare of all the people in the world."     China's target was made after full scientific research and conformed to reality, the premier noted.     "We need to devote great efforts to reach the target," he said.     Wen called for global cooperation in addressing climate change issues, saying that the developing nations enjoyed common interests in this sector.     China valued the mechanism of consultation with India, Brazil and South Africa, and would increase coordination with the G77 group, he said.     "We will work with all parties concerned to help bring about reasonable and realizable outcome of the upcoming UN climate change conference in Copenhagen," said Wen, who is scheduled to attend the conference next month.     The foreign representatives applauded China's efforts and achievements in tackling climate change issues.     They agreed that developing nations should work together to safeguard common interests and make contribution to coping with this challenge and achieve sustainable development.     Indian Minister of State for Environment and Forests Jairam Ramesh, Brazilian Presidential Advisor Marcel Fortuna Biato, and South African Minister of Water and Environmental Affairs Buyelwa Sonjica were here for the ministerial consultations on climate change on Nov. 28.     The Chinese representative to the consultations will be Xie Zhenhua, vice minister in charge of the National Development and Reform Commission.     Sudan's Lumumba Stanislaus Di-Aping, a representative of the G77, had concluded his consultations with Xie earlier Friday.