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BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.
BEIJING, Jan. 19 (Xinhua) -- The presidium of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee held a meeting Wednesday, preparing for the upcoming Fourth Plenary Session of the 11th CPPCC National Committee, scheduled to open on March 3.The meeting was presided over by Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), presides over the 34th meeting of chairpersons of the 11th CPPCC National Committee in Beijing, capital of China, Jan. 19, 2011.The meeting examined and approved the draft agenda for the Fourth Plenary Session of the 11th CPPCC National Committee.

BEIJING, Dec. 26 (Xinhua) -- With the New Year and China's Spring Festival approaching, China will improve efforts to stabilize prices and ensure abundant supply of essential commodities, according to an official circular issued Sunday.Cracking down on price speculation and related market manipulation should be high on agenda of governments at all levels, according to the circular issued jointly by the General Offices of the Communist Party of China (CPC) Central Committee and the State Council, or China's Cabinet.The circular also urged for improved supervision on the food and medicine market and demanded work concerning water, power, oil, gas and heating supplies to be handled well.It called on related departments to distribute subsidies for low-income groups in a timely way and make arrangements to help people, especially those in disasters-hit areas, to get through the winter with enough supply of necessities.Party and governmental organs should abstain from extravagance and embezzlement of public fund must be strictly prohibited, it said, ordering discipline inspection authorities, auditing agencies and finance departments to enhance supervision.According to the circular, special inspection campaigns will be launched in sectors, including mining, transportation, construction, and fireworks manufacturing, to tighten safety measures and prevent accidents.Stressing security in passenger transportation, the circular said cargo overloading, using fatigued operators or running unlicensed transportation operations are prohibited.It further called for efforts to safeguard social order and to combat violent and mafia-style crimes, property embezzlement and economic crimes.
BEIJING, Nov. 30 (Xinhua) -- Chinese Premier Wen Jiabao on Tuesday urged Israel and Palestine to stay on the path of peace talks and take constructive moves to advance their stalled peace talks.Wen made the appeal in a message to the Conference in Commemoration of the International Day of Solidarity with the Palestinian People, which was held Monday at the United Nations headquarters in New York.Offering warm congratulations for the event on behalf of the Chinese government, Wen stressed that the Palestinian issue is at the core of the Middle East issue.The Chinese government has all along firmly supported the Palestinian people's just cause of restoring their legitimate national rights, and the efforts to continuously push the Middle East peace process forward, Wen said.The talks between Israel and Palestine have now reached a pivotal stage, he said, voicing the hope that both sides will stay on the track,take positive and constructive efforts, avoid any disturbance of the talks, cooperate with international mediation efforts, and constantly promote the negotiation process.He expressed the hope that on the basis of related UN resolutions and the "land-for-peace" principle, an independent Palestinian State with full sovereignty will be established and the peaceful coexistence of Israel and the Palestinian State will be achieved.An early settlement of the Palestinian issue is the expectation shared by all Middle East countries and peoples and the international community, Wen said.As a permanent member of the UN Security Council, China will as always support the United Nations in playing a vital role on the Middle East issue, he said.He added that China, along with the international community, will continue to make unremitting efforts to seek a just solution to the Palestinian issue and promote peace, stability and development in the Middle East.The UN General Assembly adopted a resolution in 1977 designating Nov. 29 as the International Day of Solidarity with the Palestinian People. On that day in 1947, the assembly passed a resolution on the partition of Palestine.Each year, the assembly's Committee on the Exercise of Inalienable Rights of the Palestinian People holds a special meeting in observance of the Day of Solidarity.
BEIJING, Dec. 12 (Xinhua) -- Chinese Premier Wen Jiabao will pay official visits to India and Pakistan from Dec. 15 to 19 at the invitation of Indian Prime Minister Manmohan Singh and Pakistani Prime Minister Yousuf Raza Gilani, Chinese Foreign Ministry spokesperson Jiang Yu announced Sunday.Wen will meet and exchange views with leaders of the two countries during the visits on bilateral relations and cooperation as well as international and regional issues of common concern, Jiang said.During his visit to India, Wen will attend activities marking the 60th anniversary of the China-India diplomatic ties with Prime Minister Singh, and meet with Indian people from all circles, Jiang said.In Pakistan, Wen will attend the China-Pakistan business summit and meet friends who have contributed to the friendship of the two countries."I believe Premier Wen's visits will help further China's relations with the two countries and promote regional peace, development and stability," said Jiang.
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