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BEIJING, July 6 (Xinhua) -- Torrential rains and floods in southern and central China have left at least 21 people dead and two missing. More than 700,000 people have been relocated as downpours have destroyed houses, flooded crops, cut power, damaged roads and caused rivers to overflow, according to the latest figures from the provinces of Hunan, Fujian, Jiangxi and Guangdong as well as the Guangxi Zhuang Autonomous Region. In Guangxi, a child was killed and another five were injured Sunday in a landslide when they were playing in the house in Hengxian County, Nanning City, officials said Monday. In Guangxi's Rongshui county, 62 schools were flooded, and about 300 students were trapped in a boarding school. Most of the students had been taken home by their parents as of Monday morning, while the school was preparing to send home the remaining 17, whose parents were mostly migrant workers. In Guangxi 328,400 people were relocated because of the rainstorms, said the regional civil affairs department. As of Monday night, more than 11,000 homes in Guangxi had been toppled and 158,780 hectares of crops were damaged. Direct economic losses from the rains stood at 1.7 billion yuan (250 million U.S. dollars), according to the department. In the tourist city of Guilin, traffic on 38 highways had been cut off as the highways were damaged by rain. In central China's Hunan Province, eight people died and 140,000 were forced out of their homes, according to the provincial flood control office. In Fujian Province, five people died and two are missing. In Jiangxi Province, three people who were previously reported as missing have been confirmed dead, bringing the province's death toll to five. About 230,000 people had to flee their homes. The flood control headquarters in Jiangxi said Sunday night that crops on 200,000 hectares of farmland have been damaged and thousands of homes toppled. Direct economic losses were estimated at 3.13 billion yuan (458.9 million U.S. dollars). In Guangdong Province, two construction workers were killed by a collapsed wall. In Guizhou, 82 roads were broken by landslides triggered by rainstorms since the end of June, most of which reopened as of Monday. However, a provincial highway was still broken, officials said. The government was repairing the road, but it was difficult because of the large number of landslides, said Guo Zhihuai, a Guizhou road bureau official. China is among the countries most plagued by natural disasters, with 70 percent of its cities and 50 percent of its 1.3 billion people living in areas vulnerable to one or more kinds of natural disasters. China has suffered major natural calamities, including torrential floods in the Yangtze River valley in 1998, severe droughts in Sichuan Province and Chongqing Municipality in 2006, winter storms in southern China early last year, and the massive May 12 earthquake last year. The United Nations said natural disasters caused nearly 110 billion U.S. dollars of damage in China last year.

BEIJING, July 16 (Xinhua) -- The international community has continued to condemn the July 5 riots in Urumqi, the capital of China's northwestern Xinjiang Uygur Autonomous Region, which has left 192 people dead. Religious leaders and some experts also voiced support for the joint efforts by the Chinese government and various ethnic groups to safeguard ethnic unity and social stability. Regional leaders of two major Islamic organizations -- Nahdatul Ulama and Muhammadiyah -- in the Indonesian city of Surabaya said Islam advocates peace and opposes violence. Muslims love peace, pursue peace and take real actions to maintain peace and oppose any violent and terrorist actions, they said Tuesday while meeting Wang Huagen, Chinese general consulate in Surabaya, Indonesia's second largest city. The two Islamic leaders also expressed the hope that social order in Urumqi could be restored soon. Pierre Picard, a human geologist and China expert at the University of Paris, said he was shocked by the July 5 incident which was a violent crime orchestrated by foreign terrorists and separatist forces. China has the right to take actions to maintain national stability and restore social order and the measures it has taken were appropriate, he told Xinhua. No country in the world can tolerate attacks by terrorist forces, he added. The Al-Riyadh newspaper, one of the leading newspapers in Saudi Arabia, said in a report on Tuesday that the July 5 incident in Xinjiang was a crime of violence that was premeditated and organized. The unrest was not an ethnic issue nor a religious one, but a case against public order incited by a few separatists and mobs, it stressed. Bahrain's Al-Ayam newspaper shared the view. In a report published on Tuesday, it said the incident was by no means an ethnic or religious issue, but a grave violent crime involving beating, smashing, looting and burning premeditated, organized and instigated by the separatist forces both in and outside China. The purpose of the separatists is to sabotage ethnic unity and social stability in Xinjiang, said the report. The local government of the autonomous region has adopted effective measures in accordance with law to stop the violent crimes in a bid to safeguard social stability and resume normal social order as well as protect local people's rights and interests, it said. The report said that the Chinese government had introduced and carried out a series of ethnic and religious policies since the People's Republic of China was established. China always sticks to the principle of protecting ethnic minorities equal rights and safeguarding ethnic solidarity, and is firmly opposed to ethnic discrimination and oppression of any ethnic group as well as any activities aimed at undermining ethnic unity, it said. China has always valued the role played by Islamic countries and attached great importance to its friendly relations with them, the report said, adding that such relations will be further cemented through joint efforts by both sides.
BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery. The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008. The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules." Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year. The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22. "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps." Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan. Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs. "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong. "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said. China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy. The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues. CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan. Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus. Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.
SHANGHAI, July 12 (Xinhua) -- China Eastern Airlines on late Sunday announced that it will merge Shanghai Airlines through a shares swap and the two will resume stock trading in Shanghai Monday. Shanghai Airlines will exchange one of its A shares for 1.3 shares of China Eastern after the former's shareholders are given a 25 percent risk premium, the latter said in a statement filed to the Shanghai Stock Exchange. Shanghai Airlines Chairman Zhou Chi said on June 30 that the transfer of shares will take about four to five months. Liu Jiangbo, spokesman of the working team overseeing tie-up affairs, said Shanghai Airlines will become a wholly-owned subsidiary of China Eastern and retain its brand and independent operation. Liu told Xinhua that the merger has entered a concrete stage after the announcement of the detailed merger plan. This is a major step to promote the consolidation of regional airlines and to facilitate building Shanghai into an international air and shipping hub, he said. The merger will give China Eastern, one of China's three state-owned airlines, about 50 percent market share in Shanghai. China Eastern reported a net loss of 13.9 billion yuan in 2008 because of weak travel demand in the economic downturn and wrong-way bets on fuel prices. China Eastern and Shanghai Airlines shares have been suspended from trading since June 8 while waiting for the merger talks. China Eastern last closed at 5.33 yuan and Shanghai Airlines closed at 5.92 yuan. China Eastern is listed in Hong Kong and Shanghai and Shanghai Airlines is listed in Shanghai.
来源:资阳报