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BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

CHENGDU, Sept. 2 (Xinhua) -- Chinese Premier Wen Jiabao called the past 110 days since the May 12 quake "shocking and touching" when speaking to journalists in southwest China's quake-hit Sichuan Province on Tuesday.     "The past 110 days were days that shocked our minds, and also days that touched our hearts," said Wen. "It's not a long time, but what we did, as witnessed by people all over the world, will go down in history." Chinese Premier Wen Jiabao (C, Front) addresses a press conference in Yingxiu Town, Wenchuan, southwest China's Sichuan Province, on the morning of Sept. 2, 2008.  "Saving people was given absolute priority. We made the utmost efforts to save people's lives even if there was a slightest hope, and we never gave up," Wen recalled at an improvisatori press conference in Yingxiu Town, the epicenter of the May 12 quake.     About 84,000 people were rescued out of debris after the quake, according to Wen.     The 8.0-magnitude earthquake killed more than 69,000 people in Sichuan and neighboring provinces and left nearly 18,000 missing.     According to the quake relief headquarters under the State Council, now people in the quake zone had no problem in eating, drinking among other life necessities. No major epidemics were reported and industry and agriculture basically resumed.     The nation also demonstrated a kind of great spirit in the quake rescue and relief efforts and gained plenty of precious experiences in coping with emergencies, Wen said. "These will be more everlasting in the quake zone and in our hearts."     Citing soldiers rescuing life around the clock, volunteers taking care of survivors and local people helping each other, Wen expressed his appreciation for all the merits demonstrated on the rescuers and survivors.     Wen said the rebuilding of houses and infrastructures remained the most urgent and difficult task for relief work, citing that it took more than 100 days to fully repair the trunk road linking quake-hit Dujiangyan and Wenchuan and it required no less to keep it open as aftershocks continued to trouble the areas.     According to Wen, in October a nationwide campaign will be launched on donating clothes and quilts to the quake zone to help people there spend winter "safe and sound".     He vowed the central government would continue the relief work as best as it can along with local governments and residents.

BEIJING, Oct. 4 (Xinhua) -- China on Saturday denounced the U.S. government's decision to sell arms worth of about 6.5 billion U.S. dollars to Taiwan.     Foreign Ministry spokesman Liu Jianchao said the Chinese government and people firmly opposed this action which seriously damaged China's interests and the Sino-U.S. relations.     The U.S. government, in spite of China's repeated solemn representations, on Friday notified the Congress about its plan to sell arms to Taiwan, including Patriot III anti-missile system, E-2T airborne early warning aircraft upgrade system, Apache helicopters and other equipment.     Chinese Vice Foreign Minister He Yafei has summoned the charge d'affaires of the U.S. Embassy to China to raise strong protest against the U.S. move, according to spokesman.     China firmly opposes to arms sales by the United States to Taiwan, said Liu, noting that this has been a consistent and clear stance of China.     The U.S. government's agreement on arms sale to Taiwan severely violated the principles set in the three joint communiques between China and the United States, especially the communique on the U.S. arms sales to Taiwan signed on Aug. 17, 1982, grossly interfered in China's internal affairs, endangered Chinese national security, and disturbed the peaceful development of cross-Strait relations, Liu stressed.     "It is only natural that this move would stir up strong indignation of the Chinese government and people," he said.     "We sternly warn the United States that there is only one China in the world, and that Taiwan is a part of China," Liu said.     He said nobody could shake the strong will of the Chinese government and people to safeguard national sovereignty and territorial integrity and to oppose external interference, and nobody could stop the efforts to promote cross Strait exchanges and opening a new chapter of peace in cross Strait relations.     China urged the United States to recognize that it is seriously harmful to sell arms to Taiwan, Liu said, noting that the United States should honor its commitment to stick to one-China policy, abide by the three China-U.S joint communiques, and oppose the so-called "Taiwan independence".     Liu said the United States should immediately take actions to correct its mistakes, cancel the proposed arms sale, stop military links with Taiwan, and stop disturbing the peaceful development of cross Strait relations, so as to prevent further damage to the Sino-U.S. relations and the peace and stability across the Taiwan Strait.     China reserved the right for taking further measures, he noted.     The Standing Committee of the National People's Congress (NPC),China's top legislature, and the National Committee of Chinese People's Political Consultative Conference (CPPCC), China's top advisory body, on Saturday also express strong indignation over the U.S. arms sale plan.     The foreign affairs committee of the NPC Standing Committee and that of the CPPCC National Committee each issued a statement, stressing that people of all walks of life in China were firmly opposed to the U.S. arms sale to Taiwan.     "We firmly support our government's solemn stances over this issue," the statements said.     The statements said the cross Strait relations have recently witnessed sound momentum, which accords with the interests of both Chinese and U.S. peoples. The U.S. proposed arms sale to Taiwan actually was a move disturbing the improvement of the cross Strait relations.     The statements called for the United States to immediately correct its wrongdoing, and refrain from any further moves that will damage the Sino-U.S. relations and the world peace.     China's Defense Ministry also issued a statement Saturday, condemning the U.S. move.     Defense Ministry spokesman Hu Changming said the U.S. decision has ruined the good atmosphere of cooperation that had existed between the two armed forces over recent years.     The statement also warned China reserves the right of making further reactions.

BEIJING, Oct. 6 (Xinhua) -- Chinese Premier Wen Jiabao and his Australian counterpart Kevin Rudd, in a phone conversation on Monday, exchanged opinions on relations between their two countries as well as the international financial crisis and climate change.     Wen spoke positively of the development of the mutually beneficial cooperation between China and Australia.     He said China is willing to work with Australia to intensify coordination and cooperation, and meet the complicated global challenges in a bid to promote harmonious and sustainable development of the world.     The Australian prime minister lauded China's position and active role in handling the international financial crisis.     Rudd said the international community should strengthen cooperation to establish and improve the mechanism to guarantee the transparency and consistency of the international financial system.     Australia would like to work with China to reinforce exchanges and cooperation in international finance and in multilateral and bilateral fields, he added.

CHENGDU, May 16 (Xinhua) -- Rescue operation and disaster relief for victims in the worst earthquake over decades are of top priority of the nation, and thus require concerted efforts from the whole country, Chinese Premier Wen Jiabao said Thursday night.     Monday's 7.8-magnitude earthquake that ravaged southwestern Sichuan Province and was felt in most parts of the country was the "most destructive" tremor and had the "most wide-spreading impact" since New China was founded in 1949, Wen said on a meeting of the rescue headquarters under the State Council headed by himself. Chinese Premier Wen Jiabao (L) comforts local people in Muyu Township, Qingchuan County, southwest China's Sichuan Province May 15, 2008. Qingchuan County is one of the worst-hit areas in Sichuan Province. Premier Wen is here to oversee rescue work and visit survivors.It was even more powerful than the Tangshan earthquake in 1976,Wen said. The catastrophe in northern Hebei Province claimed about240,000 lives three decades ago.     He hailed the efficiency and order the country has maintained for the past 80 hours as the country focused its resources on saving lives and disaster relief work for quake victims.     He said the government will stick to its "people-first" policy in its future rescue operations and reconstruction works. A mother deadly cries after knowing her child lost life in the devastating earthquake in Sichuan Province May 15, 2008. "Saving lives is still our top priority, as long as hope of survival still exists," Wen said, urging that social stability to be maintained.     He warned relevant authorities to pay special attention to the prevention of plagues.     He said supplies of food, medicines, and tents must be ensured.     More than 50,000 people are feared dead in Sichuan alone after Monday's earthquake, with confirmed death toll in the province hitting 19,509 by Thursday afternoon.