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BEIJING, July 15 (Xinhua) -- Chinese shares continued Tuesday's rising momentum to hit a new high with Shanghai Composite Index closing at 3,188.55 on Wednesday, setting the highest close since June 2008 as coal, nonferrous metal and auto shares bolstered the rise. The benchmark Shanghai Composite Index gained 1.38 percent, or 43.39 points, to 3,188.55. The Shenzhen Component Index advanced 0.68 percent, or 88.19 points, to 13,079.26. Two investors talk at a stock trading hall in Guangzhou, capital of south China's Guangdong Province, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent Total turnover jumped to 333.4 billion yuan (48.81 billion U.S. dollars) from 280.53 billion yuan on the previous trading day. Winners outnumbered losers by 537 to 302 in Shanghai and 427 to 304 in Shenzhen. Coal shares led the gains in the afternoon trading session with Jingyuan Coal Industry and Electricity Power Company Co. Ltd. and Shenhuo Coal and Power Co. Ltd. reaching the daily limit of 10 percent to close at 18.43 yuan and 28.27 yuan, respectively. Nonferrous metal shares gained as the industry forecasts a rebound in the second half of the year based on the recovery expectation of China's economy. Yuannan Copper Co. Ltd. and Jiaozuo Wanfang Aluminum Manufacturing rose by the daily limit of 10 percent to close at 24.68 yuan and 15.99 yuan, respectively. Auto shares performed well as the Chinese government unveiled details on Tuesday night of a subsidy program for auto replacement, a fresh measure to stimulate private spending and curb pollution. Chang'an Auto rose 8.67 percent to 11.15 yuan, and Guizhou Tyre advanced 6.41 percent to 13.29 yuan. Steel shares posted a widespread gain on the anticipation of increased demand from automobile, manufacturing and construction industries. Hangzhou Iron and Steel Co. Ltd. rose by the daily limit. Baosteel, the country's biggest steel maker, gained 1.46 percent to close at 8.36 yuan, setting its highest close in about a year. An old woman smiles in front of a share price screen at a stock trading hall in Shanghai, east China, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent
BEIJING, June 16 (Xinhua) -- China would like to join with Myanmar to promote comprehensive, stable and lasting relations, Vice President Xi Jinping said Tuesday. During talks with Myanmar State Peace and Development Council Vice-Chairman Maung Aye, Xi said China valued good-neighborly relations with Myanmar. He said Myanmar was among the first group of countries that forged diplomatic ties with the People's Republic of China, and Sino-Myanmar relations had maintained good momentum. Chinese Vice-President Xi Jinping (L) holds a welcome ceremony in honor of Maung Aye (R), vice-chairman of the Myanmar State Peace and Development Council (SPDC), at the Great Hall of the People in Beijing, capital of China, June 16, 2009. Xi also said the two countries should implement on-going projects to boost their economies amid the global downturn. He stressed that the Five Principles of Peaceful Coexistence were the cornerstone of China's diplomacy, and as a good neighbor, China hoped Myanmar would overcome difficulties to achieve stability and prosperity. Maung Aye expressed gratitude for China's long-term assistance. He particularly mentioned that China sent medical teams after Myanmar was hit by a cyclone last year. He reaffirmed Myanmar would support China's stance on the Taiwan and Tibet issues. Chinese Premier Wen Jiabao met with Maung Aye earlier Tuesday. Hailing the 60-year diplomatic relationship, Wen said the two nations enjoyed traditional friendship and broad common interests. Maung Aye said his government valued the relationship with China. Maung Aye came to China on an official visit scheduled for June15 to 20 at Xi's invitation.
BEIJING, June 24 (Xinhua) -- The Chinese government's fiscal revenue in the first five months of 2009 reached 2.7 trillion yuan (400 billion U.S. dollars), down 6.7 percent from the same period of last year, Finance Minister Xie Xuren said Wednesday. Xie revealed the figure in a report to the ninth session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature. Of the total, the central government collected about 1.4 trillion yuan, down 14 percent. This accounted for 39.6 percent of the annual budget. Local governments collected the other 1.3 trillion yuan, up 2.9 percent, which accounted for 42.4 percent of the annual budget. Xie cited four factors for the drop in fiscal revenues: a fall in international trade due to the global economic downturn; a fall in revenue value relative to the consumer price index and producer price index; structural tax reduction polices and a slowdown in China's economic growth. Structural tax reduction policies reduced taxes by about 230 billion yuan in the first five months, according to the report. He said in the first five months, fiscal expenditure nationwide amounted to almost 2.25 trillion yuan, up 27.8 percent over the same period last year, accounting for 29.5 percent of the budgeted figure. Central government expenditure totaled 459.3 billion yuan, up 21.4 percent, while local governments spent 1.79 trillion yuan, up29.5 percent, he said. The funding went mainly to expanding public investment, increasing subsidies for low-income groups, ensuring sufficient money for education, health, social security, employment, basic housing and culture, and supporting technological innovation, energy conservation and emission reduction. Xie stressed that the government would continue to ensure the stable growth of investment and actively implement structural tax reduction policies to ease the burden on business and consumers. Doing so would encourage companies to invest and individuals to consume. "Efforts should be made to boost revenues and cut spending," he said, calling for frugality and strict control of expenditures by reducing government vehicle purchases, reception fees and official travel. He said: "The construction of government and Party committee buildings should be rigidly limited." The government would promote the scientific and meticulous management of public finances, boost efficiency and deepen fiscal system reform, he said, adding that resource tax reform would be advanced and the consumption tax system would be adjusted. Xie said the outstanding national debt reached 5.3 trillion yuan at the end of last year, which was within the 5.5-trillion-yuan limit in the annual budget. The government's fiscal revenue reached about 6.13 trillion yuan last year, 19.5 percent more than in 2007. Xie said the central fund for reconstruction from last year's May 12 earthquake reached 74 billion yuan and expenditures were 69.77 billion yuan last year. This year, the central budget allocated 130 billion yuan for reconstruction work.
BEIJING, May 4 (Xinhua) -- Chinese Vice-Premier Li Keqiang on Monday vowed to keep the worsening global epidemic of influenza A/H1N1 out of China's border, while the same day the government sent a chartered plane to Mexico to pick up around stranded 200 Chinese nationals. "The most important work at present was to strictly check on border entry" as the killer disease has been mainly reported overseas, Li gave the direction during a visit to the Ministry of Health. China could not rule out the possibility of the virus' spreading into its border although no confirmed case had been reported yet on its mainland, Li warned. "We must be fully prepared and strive for the best outcome through orderly and effective work," he said. He ordered government bodies to step up technical equipment and material storage, arrange designated hospitals and be well prepared for emergencies. Chinese Vice Premier Li Keqiang (2nd R) arrives to attend a symposium together with experts on prevention and control of A/H1N1 Flu at the Ministry of Health in Beijing, May 4, 2009.Information transparency was of key importance to the scientific epidemic prevention and control, he said, calling for further improvement in information publicity. "Infections within our border must be immediately publicized, and the prevention and control work must be transparent," he said. CHARTERED FLIGHT In light of the plight of around 200 Chinese citizens still stranded in Mexico, center of the flu outbreak, the government sent a chartered flight late Monday to pick them up. The plane left Guangzhou for Mexico City and Tijuana at 10 p.m. and is expected to return to Shanghai at 9 a.m. Wednesday, China Southern Airlines said. The 17-strong crew have been trained on precautions against the flu and dealing with any health emergencies. A quarantine expert from the Ministry of Health and doctors from the airline would closely monitor the health conditions of the passengers. Chinese Vice Premier Li Keqiang (R, front) shakes hands with an expert on prevention and control of A/H1N1 Flu prior to a symposium at the Ministry of Health in Beijing, May 4, 2009.If any passengers developed symptoms like fever, all the passengers and flight crew would probably be quarantined after returning to China, sources with the airline told Xinhua. China suspended flights from Mexico to Shanghai starting Saturday after a 25-year-old Mexican man, who arrived in Shanghai Thursday aboard flight Aeromexico 098, was later diagnosed with influenza A/H1N1 in Hong Kong. The Mexican became Hong Kong's first confirmed case of influenza A/H1N1 infection Friday. It was also the first such casein Asia. China Monday cancelled a chartered flight to Mexico to pick up 120 or so stranded passengers. The airline said another 80 Chinese citizens have requested to take the expected chartered flight back to the country. NO DISCRIMINATION, CHINA SAYS Monday's take-off of Chinese plane has been a result of a bilateral agreement between the governments, which allows both to send chartered flights to each other's country to lift their stranded nationals. The agreement was reached even after diplomatic disputes whether China has taken discriminatory measures against Mexican citizens. Mexican Foreign Minister Patricia Espinosa Cantellano has complained China's quarantine of some Mexican citizens with no symptoms of the virus was discriminatory and short of scientific evidence. He also reminded Mexican citizens not to travel to China until it corrected the discriminatory measures. Foreign Ministry spokesman Ma Zhaoxu said on Monday that the country's medical quarantine of some passengers who had traveled on the same flight with the Mexican man who was infected with influenza A/H1N1 as necessary. "The measures concerned are not targeted at Mexican citizens and there is no discrimination," he said in a press release. "This is purely a medical quarantine issue." Ma said China hoped Mexico would be understanding of the measures adopted by China and handle this matter objectively and calmly given the overall situation of jointly addressing the epidemic. He also said China and Mexico are friendly countries and China attaches great importance to diplomatic relations with Mexico. "China is willing to enhance cooperation with Mexico and make joint efforts to combat the epidemic situation," said Ma. All the 176 passengers and 13 crew aboard have been located and those who remained in China have been quarantined, including Mexicans. MORE INSPECTION TEAMS In another move to contain the epidemic, the government has stepped up checks on people entering the country by sending another six supervision teams to major provinces to prevent influenza A/H1N1 from spreading to the country, the top quality supervisor said Monday. These teams went to provinces of Shandong, Hebei, Sichuan, Jiangsu, Zhejiang, Hunan, Hubei and Shaanxi and would work together with local authorities, according to the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ). GAQSIQ required all people entering China by air, land and sea to fill in personal health statement cards to strength control efforts. The 6 teams were in addition to the previous 5 teams going to Beijing, Shanghai and Guangzhou on April 25. Also on Monday, the Ministry of Health said it had listed A/H1N1 under the category of infectious diseases that warranted quarantine, and would quarantine people and material crossing China's borders that were suspected of transmitting the virus.
ASHGABAT, June 24 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said here on Wednesday that the joint natural gas projects between China and Turkmenistan serve the fundamental and long-term interest of both peoples. Li made the remarks during a video conference with the Chinese and Turkmenistan's workers of China National Petroleum Corporation International (Turkmenistan). The workers had been busy with constructing a vast natural gas processing facility in a natural gas field some 700 kilometers southeast of Turkmenistan's capital Ashgabat. Chinese Vice Premier Li Keqiang (L Front) visits staff members of China National Petroleum Corporation International (Turkmenistan), in Ashgabat, Turkmenistan, June 24, 2009. The facility under construction is the starting point of the China-Turkmenistan pipeline, a part of the Central Asian Pipeline which starts at the border between Turkmenistan and Uzbekistan and runs through the southern part of Uzbekistan and central part of Kazakhstan before reaching to the Chinese northwest region of Xinjiang. Li said the China-Turkmenistan pipeline, initiated by the top leaders of the two countries, is a strategic project and has become a model for friendly cooperation between the two sides. He added that the project, after finished, would promote social and economic development of both China and Turkmenistan. Chinese Vice Premier Li Keqiang (2nd L Front) inspects, through a model, the construction of a natural gas plant of China National Petroleum Corporation International (Turkmenistan), in Ashgabat, Turkmenistan, June 24, 2009The Central Asian Pipeline, expected to be in operation at the end of this year, is connected with China's domestic natural gas pipeline network and thus can transport natural gas produced in Central Asian countries, especially in Turkmenistan, to major Chinese cities like Shanghai, Guangzhou and Hong Kong.