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Chinese President Hu Jintao visits a Pakistani medical team in Longnan city in northwest China's Gansu Province Sunday afternoon. (Xinhua Photo)    LONGNAN, Gansu, June 1 (Xinhua) -- Chinese President Hu Jintao visited a Pakistani medical team in Longnan city in northwest China's Gansu Province Sunday afternoon.     Hu went to a tent and shook hands with several Pakistani medical workers at the First People's Hospital of Longnan City. "When the Chinese people suffered the devastating earthquake, the Pakistani people expressed concerns, offered relief materials and sent a medical team to us. The Chinese government and people feel deeply grateful," Hu said.     The medical team consists of 28 people. Hu praised them for their excellent skills and all-out efforts.     Hu said the team symbolized the friendship the Pakistani people cherished for the Chinese people and expressed his wish that the friendship would last forever.     The team members said they felt Chinese people's hospitality and vowed to do their best for the quake victims.

BEIJING, Sept. 5 (Xinhua) -- Chinese equities tumbled on Friday following a heavy slump overnight on Wall Street as concerns about the U.S. economic slump worsened.     The Shanghai Composite Index sank 3.29 percent, or 74.97 points, to 2,202.45. The key index has declined more than 58 percent this year and more than 63 percent from its peak in October.     In Shenzhen, the market fell 2.8 percent, or 209.4 points, to 7,264.2. Aggregate turnover expanded to 42.55 billion yuan (6.22 billion U.S. dollars) from 38.99 billion yuan on the previous trading day.     Losses outnumbered gains by 827-47 in Shanghai and 702-32 in Shenzhen.     Wall Street fell on Thursday with the Dow Jones down more than 340 points as disappointing jobless and retail data left investors doubtful of a U.S. economy recovery. The downturn partly contributed to a fall in China equities, analysts said.     Tracking the Wall Street loss, both the Hong Kong and Tokyo exchanges plunged more than 2 percent on Friday. A resident walks past an electronic board showing the fall of Hang Sang index in Hong Kong, south China, Sept. 5, 2008. Hong Kong's benchmark Hang Seng Index closed at 19,933.28 points Friday, breaching the key psychological supporting mark of 20,000The key Shanghai index fell through the 2,245 points, which was labeled as a psychological mark by analysts. The mark was the peak of the market's last bullish period that ended in 2001.     The breach increased market panic and the weak sentiment would remain until the authority could come up with detailed market-boosting measures instead of just vague market talks, a Shanghai Shiji Investment Consultant Company analyst said.     Continuous retreats in the world crude oil price and other commodities heightened worries that a global slowdown would cut demand and would dent corporate profits, analysts said.     Crude oil for October delivery dropped 1.46 U.S. dollars overnight to 107.89 U.S. dollars per barrel on the New York Mercantile Exchange, falling for a fifth straight day to a five-month low.     In response, China National Offshore Oil Corp. (CNOOC), the country's largest offshore oil explorer, fell 4.24 percent to 13.76 yuan. China Shenhua, the country's top coal producer, shed 3.16 percent to 24.54 yuan and Yanzhou Coal Mining Company lost 4.29 percent to 12.71 yuan.     Investor confidence was also dampened by news of China Merchants Securities plan to launch an initial public offering (IPO), Guosen Securities senior analyst Tang Xiaosheng said.     Brokerage shares declined across the board. CITIC Securities sank 3.18 percent to 18.56 yuan, Guojin Securities slumped 7.3 percent to 27.94 yuan, while Hongyuan Securities lost 4.79 percent to 13.92 yuan.     China Merchants Securities Co. Ltd. said in a prospectus released late on Thursday that it planned to issue 358.55 million A-shares on the Shanghai bourse. The application would be decided by market regulators on Monday.     If approved, it would become the second domestic brokerage IPO following Everbright Securities after a five-year suspension.

XIANGFEN, Shanxi, Sept. 15 (Xinhua) -- Rescuers continued to search for the missing in last Monday's fatal mud-rock flow in north China's Shanxi Province that killed 254 people and injured 34 to date.     No new bodies were found from 6 p.m. on Sunday to 6 p.m. on Monday. Rescuers were continuing to search in areas designated by the family members of the missing, according to Lian Zhendong, the rescue operation's chief.     "We will not stop the rescue work in a short time," he said. "We will do our best to make the family members of the missing see their relatives." Rescue workers work on the ruins at the key spot of the mud-rock flow in Xiangfen County, Linfen City, north China's Shanxi Province, Sept. 15, 2008A rain-triggered mud-rock flow happened around 7:50 a.m. on Sept. 8 when the bank of a pond holding waste ore dregs burst at the Tashan Mine in Xiangfen County, Linfen City, destroying buildings, trade markets and residences lying about 500 meters downstream.     The death toll has risen to 254, 151 of whom have been identified. The 34 injured, four seriously, were being treated in hospital.     An initial investigation showed that factors leading to the accident included the production and building of the pond was in violation of regulations. The mine also lacked a security checkup, failed to implement the orders for straightening up operations, in addition to the loose supervision of concerned safety departments.     The State Council, China's Cabinet, has ordered a nationwide safety check at similar production sites to root out hidden risks following the deadly accident.

BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.

BEIJING, Aug. 16 (Xinhua) -- For a second day, the Olympic host city reported Grade I -- or excellent -- air quality on Saturday, the eighth day of the Olympics. In most of the day, the city basked in sunshine.    Figures released by the China Environmental Monitoring Center (CEMC) revealed that Beijing's Air Pollution Index (API) showed a reading of 23 on Saturday, which fell into Grade I, whose API reading ranges between 1 and 50. On Friday, CEMC's figures showed an API reading of 17.    China uses the API system to report the country's air quality. An API reading between 51 and 100, or Grade II, means the air quality is fairly good. An API reading between 101 and 150, or Grade III, entails the air quality is slightly polluted.Also on Saturday, deputy director of the Beijing Municipal Bureau of Environmental Protection Du Shaozhong said the city reported seven days with Grade I air quality in the first half month in August, which was the highest since 1998.    In the other eight days, Beijing's air quality was in Grade II, which was within the standards to host the Olympics.    "Beijing often reports more days with Grade I air quality during the autumn and winter in comparison with the summer. But this August, the number of days with excellent air quality is unusually high," he said.    Since 1998, the highest monthly number of days with excellent air quality in the summer was five, in July of 2006, he said. Last August only two days reported excellent air quality.    Du forecast that Beijing's air quality would be excellent or fairly good during the Olympics and Paralympics. "Should weather conditions be favorable, Beijing's air quality would be excellent. Should weather be unfavorable, the air quality would be in Grade II," he saidWang Zifang, a Beijing-based expert on weather forecasting, said Beijing's air quality would be excellent until Monday.    "During Aug. 19-21, the wind is forecast to change direction and may bring pollutants from cities to the southeast of Beijing, such as Tianjin and Langfang," Wang said.    Du attributed good air quality to efforts made by Beijing to curb air pollution over the last nine years, especially this year.    Beijing municipal government said it had poured more than 140 billion yuan (20.5 billion U.S. dollars) since 1998 into more than 200 projects dedicated to improving the city's air quality.    In the run-up to the Beijing Games, the host city implemented some drastic measures to reduce pollution.    In one of these measures, Beijing has imposed an odd-even restriction system based on licence plate numbers that would keep vehicles off the road on alternate days from July 20 to Sept. 20.