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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.

BOAO, Hainan, April 12 (Xinhua) -- The economic and trade exchanges and cooperation between the Chinese mainland and Taiwan was facing a historical opportunity and needed joint efforts from both sides for further progress, Hu Jintao, general secretary of the Communist Party of China Central Committee, said on Saturday.     Hu made the remarks while meeting with Vincent C. Siew, chairman of the Taiwan-based Cross-Straits Common Market Foundation at the Boao Forum for Asia. Hu Jintao (R), general secretary of the Communist Party of China Central Committee, meets with Vincent Siew, chairman of the Taiwan-based Cross-Straits Common Market Foundation, in Boao, south China's Hainan Province, April 12, 2008Hu said under the new circumstances, the mainland would continue promoting cross-Straits economic and cultural exchanges and cooperation.     The mainland would also make efforts to push forward negotiations on weekend charter flights and mainland tourists' travel to Taiwan, Hu said.     He said the mainland would continue being concerned about Taiwan compatriots' welfare and protecting their legal rights and interests, and would step up efforts to restore cross-Straits negotiations and talks.     Hu said the fact that the forum was attended by so many participants from all walks of life home and abroad reflected from one aspect Asian countries and regions' strong desire to reinforce communication and cooperation and seek win-win solutions.     "The fact also inspired us to think deep about cross-Straits economic exchanges and cooperation under the new circumstances," Hu said.     Siew said the economies of the mainland and Taiwan were closely related, and the development of trade and economic relations had contributed to cross-Straits stability.     He hoped the weekend charter flights program would be launched as soon as possible and mainland tourists would soon travel to Taiwan, adding that direct flights and normal trade ties had become an inevitable choice.     Hu said the cross-Straits economic exchanges and cooperation had achieved a prominent progress after 20 years of development. Facts proved that the economic exchanges and cooperation was the most vigorous factor in the cross-Straits relations and an effective way to benefit people on both sides and expand their common interests.     Hu pointed out that in recent eight years, the cross-Straits relations "suffered twists and turns for reasons known to all", and people on both sides were not willing to see that.     He stressed that the peaceful development of the cross-Straits relations was the shared will and common interests of compatriots on both sides.

CHENGDU, June 21 (Xinhua) -- Jiang Xiaojuan, a policewoman who was well-known to the Chinese public for feeding infants with breast milk after the May 12 quake, has been officially promoted to a ranking post at a local police bureau, despite a nationwide controversy about the promotion.     Jiang was appointed a member of the Communist Party of China (CPC) Committee of the Jiangyou Public Security Bureau and the bureau's vice commissar on Thursday, an official surnamed Su from the organization department of the Jiangyou CPC Committee, Sichuan Province, told Xinhua on Saturday.     Jiang was currently on a speaking tour and would assume office as soon as she returned to Jiangyou, said the official.     Su denied media reports that the promotion had been suspended because of controversy. Jiang Xiaojuan, a policewoman, is feeding an infant with breast milk after the May 12 quake    Many people voiced objections when the Jiangyou government sought public opinion after making the promotion. They said an official position should not be used to promote a moral model.     "Such a promotion would fuel speculation activities," wrote a netizen dubbed "West Line" at the leading online forum forum.xinhuanet.com, while another netizen said promotion should depend on one's competence.     There were also many supporters of Jiang's promotion, saying that what she did showed she is a good public servant.     Su, the Jiangyou official, applauded the debate, saying "it shows the public are concerned on promotions of government officials and their enthusiasm for politics."     However, he said "we have gone through due procedures and believe she is qualified for her new post."     Jiang, 30, a mother of a six-month old, left her own baby with her parents and took part in the disaster relief work after the Sichuan quake.     Moved by the plight of babies separated from their mothers, she ended up breast-feeding nine of them. The pictures of her breast feeding spread across the country, which earned her a nickname "the police mum."     She has since been awarded laudatory titles of "hero and model police officer" and "excellent member of the Communist Party" by the Ministry of Public Security and the Organization Department of the CPC Central Committee.

CHENGDU, May 13 (Xinhua) -- A senior official with the Sichuan Provincial government said Tuesday the death toll in the province has exceeded 12,000, and is still rising.     Li Chengyun, vice governor of Sichuan, said at a news conference Tuesday afternoon that the death toll was based on incomplete figures tallied by 4:00 p.m. Tuesday. He said another 26,206 people were injured, and more than 9,400 people were buried in debris.     Li also provided a breakdown of the death toll, including 161 in the Aba Tibetan and Qiang Autonomous Prefecture, 7,395 in Mianyang City, 2,648 in Deyang City, 959 in the provincial capital Chengdu and 700 in Guangyuan City. Other casualties were reported in cities including Ya'an, Ziyang and the Garze Tibetan Autonomous Prefecture. Photo taken on May 13, 2008 shows the scene of the earthquake-hit Beichuan County, about 160 kilometers northeast of the epicenter of Wenchuan County, southwest China's Sichuan Province. Beichuan County is badly damaged in Monday's quake, with great numbers of buildings collapsed and landslides around the county.    The death toll climbed from an earlier tally provided by the Ministry of Civil Affairs, which put the Sichuan death toll at 11,608. Authorities said the death toll might change every hour, as they heard reports from rescuers who were seizing every minute to pull out bodies from the earthquake rubble.     The earthquake, which centered on the province's Wenchuan County at 2:28 p.m. Monday, has left the province in chaos. More than 3.46 million houses were wracked, Li said.     Li said he was deeply saddened by the super earthquake. He called on both officials and the masses in Sichuan to speed up efforts to fight the disaster and rescue themselves.     Chinese Premier Wen Jiabao, who arrived in Sichuan Monday afternoon to oversee rescue work, ordered the clearance of rocks and mud slides that were blocking roads to the epicenter by midnight on Tuesday.     "People are trapped in debris; we must use every second," he told an emergency meeting at 7:00 a.m. Tuesday.     On Tuesday afternoon, a brigade of about 20 soldiers have reached Yingxiu Town of the earthquake epicenter Wenchuan, the disaster relief headquarters in the Chengdu Military Area Command said.     The soldiers reported they saw more than 70 percent of the roads in the town were wracked, and nearly all bridges collapsed. A large number of people were believed to be under the debris.     They said 3,000 people were known to have survived, and the town's total population is 12,000. No information on detailed casualties could be available.     Li Shiming, commander of the Chengdu Military Area Command, said the soldiers had distributed food and water to children and injured people in the town, and more supplies would be airdropped to the area.

BEIJING, July 31 (Xinhua) -- China's military would increase cooperation with foreign armed forces in order to contribute more to common development, Defense Minister Liang Guanglie said on Thursday.     At a reception at the Great Hall of the People in Beijing to mark the 81st anniversary of the People's Liberation Army (PLA), Liang said, "China will take the road of peaceful development, unswervingly, and carry out an independent and self-reliant, peaceful diplomatic policy and a defensive defense policy, no matter how the international situation changes."     A member of the Central Military Commission (CMC) and a state councilor, Liang stressed the fundamental necessity of the Army's acceptance of "the absolute leadership of the Communist Party of China (CPC)". A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. China would never take to hegemonism and expansionism and posed no threat to any other country, Liang said.     He noted the "positive changes" regarding the situation across the Taiwan Straits, while pointing out that pro-independence forces in Taiwan had never abandon their activities.     "We are strongly determined to oppose and curb the separatist activities of 'Taiwan independence' forces," he said.     The mainland would show its utmost sincerity and exert its greatest efforts for the welfare of Chinese compatriots on both sides of the Straits, to seek peace, safeguard China's sovereignty and territorial integrity, and safeguard the fundamental interests of the Chinese nation. A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of Foreign Embassies in China and their wives also attend the reception. Liang also praised the efforts of the armed forces during the severe winter weather chaos at the start of the year and after the May 12 earthquake.     The reception was attended by other CMC members, including Chen Bingde, Li Jinai, Liao Xilong, Jing Zhiyuan, Wu Shengli and Xu Qiliang, as well as foreign military attaches.     In August 1927, the CPC-led armed forces held an uprising against warlords, which is regarded as the founding day of the services. reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of foreign embassies in China and their wives also attend the reception.