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GUANGZHOU, July 5 (Xinhua) -- Chinese Vice President Xi Jinping has praised Guangdong's pioneer role in the 30-year reform and opening drive and urged the south China province to continue promote cooperation with Hong Kong and Macao special administrative regions (SARs).     Guangdong played the role as a window, laboratory and pioneer in the construction and development of socialism with Chinese characteristics, said Xi during a study tour of the south China province on July 4 and 5.     Xi, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited towns, enterprises, communities, ports and research institutions, with Guangdong Party chief Wang Yang and governor Huang Huahua.     Xi hailed Guangdong's economic and social development, highlighting the fact that only socialism could save China, only the reforms and opening up to the outside world could develop China, socialism and Marxism. Chinese Vice President Xi Jinping (L Front) talks with a worker at Weiming company in Shenzhen, south China's Guangdong Province, July 5, 2008He paid special attention to the issue of Guangdong's cooperation with Hong Kong and Macao.     With some Hong Kong-funded companies suffering from the decrease of overseas consumer demand and price hikes of oil and raw materials, Xi asked local officials to give assistance.     Greater Guangdong-Hong Kong-Macao cooperation and the development of the SARs' economies were of great significance for maintaining a long-term prosperity and stability in Hong Kong and Macao, and the success of the "One Country, Two Systems" policy, and eventually achieving national reunification, he said.     Xi urged Guangdong to open up to cooperation with Hong Kong and Macao, by strictly following the "One Country, Two Systems" policy and the basic laws of the two SARs.     Xi called for implementation of instructions by President Hu Jintao on the development of the Party.     China must adopt the concept of scientific, coordinated and harmonious development, said Xi.

BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty.     The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months.     It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001    The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03.     In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion).     Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year.     Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see.     "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China.     "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added.     Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year.     In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd.     Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said.     Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent.     However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long.     "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China.     "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.

CHENGDU, May 24 (Xinhua) -- Chinese Premier Wen Jiabao said Saturday the efforts to search survivors were continuing in the quake-hit areas, but the focus of work would be gradually shifted to the resettlement of residents and post-quake reconstruction.     Wen told Chinese and foreign reporters at a resettlement site in Yingxiu town, a worst-hit area in the May 12 quake, that the biggest difficulty in resettling the quake-affected residents was the lack of tents.     A total of 15 million rooms were damaged or destroyed in the quake and a large number of people are in need of shelter, said the premier, who is paying a second visit to the quake-hit Sichuan Province.     "We have collected the tents nationwide and got aid from international community, but tents are still lacking," Wen said.     The Chinese government has ordered domestic tent manufacturers to produce and transport 30,000 tents to the quake zone each day and 900,000 within a month, Wen said.     The production of movable plank houses should also be accelerated to ensure the quake-affected people resume a normal life within three months, Wen added.     Efforts should also be made to ensure no big epidemic after the disaster, the premier said Chinese Premier Wen Jiabao (R Front) speaks during an interview with journalists from at home and abroad, in Yingxiu Town of Wenchuan County, southwest China's Sichuan Province, May 24, 2008, during his second inspection tour of quake-hit areas in Sichuan after May 12 when the 8.0-magnitude quake happened.     Enough epidemic prevention staff and medicine supply should be ensured, he said.     Wen said another problem confronting quake-relief workers is that the chances of secondary disasters still exist. Quake-formed lakes are the most serious among them.     "We will take effective measures to eradicate safety hazards to ensure no casualties in secondary disasters," Wen said.     The premier stressed that the construction materials of collapsed public buildings, including schools and hospitals, should be collected for reference in future reconstruction.     "Some 110,000 People's Liberation Army troops and armed police have been mobilized," the premier said. "The search and rescue operation has been conducted in every village."     The central finance had earmarked tens of billions of yuan for the relief work, Wen said. A 75-billion-yuan (about 10.7 billion U.S. dollars) post-quake reconstruction fund had been set up and more money would be added to it in the next two years, he added.     Before the reporters, Wen expressed sincere thanks to the Chinese worldwide, including compatriots from Hong Kong, Macao and Taiwan, as well as the leaders, governments and people of other countries for their concern, sympathy, aid and help.     "Facing such a powerful quake, we welcome international reporters to the quake zone," Wen said. "And we believe you can report the quake, its damage and the work we have done in a fair, objective and truthful way with your conscience and humanitarian spirit."     "In handling emergency incidents and other issues, we will unswervingly stick to the principles of putting people first and opening up to the outside," he said.     The 8.0-magnitude quake, which was centered in Wenchuan County, had left 60,560 dead nationwide as of Saturday noon, according to the Information Office of the State Council.

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.

XIAMEN, Sept. 8 (Xinhua) -- China will further open up to the world and step up its international investment cooperation, Vice Premier Wang Qishan promised here Monday.     Addressing the 12th Xiamen International Trade and Investment Fair in the east Fujian Province, Wang said the country would continue to stick to the national policy of opening up, constantly improve its policies on utilizing foreign investment and investing in foreign countries, and create more space for foreign companies to develop their business in China.     China's reform and opening up policy had significantly transformed the country in the past 30 years, and its accession to the World Trade Organization had further integrated it with the global economy, he said.     Although the country met with severe natural disasters and an unfavorable international economic environment, its coping measures made its national economy stay healthy on the whole, he said, noting it was confident in and capable of overcoming the current difficulties and challenges.     Expounding on improving its policies on utilizing foreign investment and investing in foreign countries, Wang vowed to further improve the country's investment environment including building a service-oriented government, a market of fair competition, a transparent legal environment and stable policy environment.     He also stressed lifting the quality and diversifying the means of utilizing foreign investment, and encouraging domestic enterprises to invest in foreign countries.     The Chinese government had always supported trade and investment liberalization and opposed protectionism in any form, he said, vowing to work with the world to eliminate trade and investment barriers and cope with various difficulties and challenges for global economic prosperity and stability.     Attendants of the forum are from 120 countries and regions and seven international organizations