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BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs. The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday. An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective. The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks. The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices. Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system. Three revisions were made to the draft to follow public advices that the commission deemed reasonable. The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks. In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation. However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets. The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more. The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing. The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run. A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares. China State Construction Engineering Corp. is expected to issue12 billion shares.
NANJING, April 25 (Xinhua) -- Negotiators from the Chinese mainland and Taiwan on Saturday stressed the significance of enhanced cross-Straits economic exchanges and cooperation amid the international financial turmoil. Zheng Lizhong, deputy chief of the mainland-based Association for Relations Across the Taiwan Straits (ARATS), said the international financial turmoil has brought new challenges to economic development across the Taiwan Straits. Compatriots from the two sides aspired to accelerate cross-Straits economic cooperation, Zheng said at a preliminary meeting with his Taiwan counterpart Kao Koong-lian, Vice Chairman and Secretary-General of the island's Straits Exchange Foundation (SEF). The meeting was held to make final preparations for Sunday's talks between the ARATS and SEF heads Chen Yunlin and Chiang Pin-kung. Sunday's talks could bring enhanced economic development and cooperation across the Straits, he said. Zheng Lizhong (R), vice-president of the mainland's Association for Relations Across the Taiwan Straits (ARATS), shakes hands with Kao Koong Liann, vice chairman and secretary-general of Taiwan-based Straits Exchange Foundation (SEF), before the preliminary discussion in Nanjing, capital of east China's Jiangsu Province, April 25, 2009. ARATS President Chen Yunlin and SEF Chairman Chiang Pin-kung are scheduled to hold talks on Sunday Kao Koong-lian said one of the SEF's basic notions is that the cross-Straits relations should be two-way exchanges instead of one-way. With mainland investment on the island, one of the four major issues under negotiation during the talks, the cross-Straits trade could basically resume normal two-way exchanges, he said. He hoped issues on safeguarding cross-Straits investment agreements and preventing double taxation could be included in the next round of talks. Direct transport, postal service and trade was totally cut off between the two sides since the Chinese civil war ended in 1949. On Jan. 1, 1979, the Standing Committee of the National People's Congress, or the top legislature, called for an early realization of the three direct cross-Straits links on transport, mail and trade in its "Message to Compatriots in Taiwan." After 1979, the mainland allowed Taiwan products to enter at lower tax rates or tax-exempt. In July 1988, the State Council, or the Cabinet, issued regulations encouraging Taiwan compatriots to invest on the mainland. The mainland has been the largest trading partner of Taiwan since 2003, with annual trading volume surpassing 100 billion U.S. dollars.

BAGHDAD, July 16 (Xinhua) -- As an Iraqi Muslim who has visited China, I was so shocked and sad when I read reports of the July 5 violence in China's Xinjiang province, especially when I learned from the Western media of clashes between the Han Chinese and Uygurs, and government troops cracking down on the Uygurs. I could not believe it, not from my experience in China. So I immediately contacted my friends in China, from whom I learned that the reports by the Western media were purposely biased and to a certain extent, politically motivated -- just as their versions of the U.S. occupation in Iraq. I have been to China twice -- first for a visit of two weeks, and then for a year's stay, from August 2006 to August 2007. During my visits, I was impressed by the way China's 56 ethnic groups, with Hans in the majority, live peacefully together and religious freedom respected. When I was in Beijing, I prayed every Friday at a mosque at Niujie, a Muslim-dominated district in the Chinese capital. As an Iraqi, whose country at the time was suffering from daily explosions, shootings and kidnappings, I remember I was often touched by the good wishes extended to me by complete strangers, among them Han people who visited the mosque, which has a history of more than 1,000 years. During my time living and working among the majority Han Chinese in Beijing, I found no difficulty performing my Islamic rituals, neither did I notice any untoward incidents against Muslims in China, including the Uygurs. I met many Chinese Muslims, who were really proud of being Chinese citizens. I remember a small Chinese restaurant in Niujie, owned by a Uygur Chinese, which I frequented for its Islamic food and music. I noticed TV programs in the restaurant were in the Uygur language, and when I inquired about it, one young man, who said he was studying at an Islamic institute, answered in Arabic "we have television stations in Xinjiang that use our language, which is backed by the central government." Today, I still remember the Chinese pilgrims I met who went to Mecca for the Hajj (pilgrimage), in Saudi Arabia. They often wore jackets with a Chinese flag stitched on, and under the flag were words in Arabic -- "Chinese Hajj" or Chinese pilgrim, and I could feel their sense of being proud Chinese Muslims. Once I tried to joke with one of the pilgrims and asked through a translator, "can you give me this jacket, so that I can show it to my folks in Iraq that this is a gift from my Chinese friend?" He smiled and said: "I can buy you a new one, but I will have to keep this one, as I have worn it for years and I am proud to have this flag on my chest." Islam is the second biggest religion in China, next to Buddhism. As far as I know, there are some 30,000 mosques in China, including 70 in Beijing. Outside the capital, religious freedom is well respected as well. When I went to Henan province for a vacation, I witnessed Islamic lectures being held frequently at major mosques, and Muslims living peacefully and happily. Muslims and other minorities in China enjoy exceptional privileges. My Chinese Muslim friends told me that, like other minority groups, they are not bound by the one-child-policy. Muslims and other minorities are also accepted at lower qualifications to colleges and universities; and minorities like the Uygur and Hui are well represented in governments at all levels. So when people say that the July 5 violence occurred because the Uygurs felt discriminated by the majority Hans, I really cannot believe it. I have personally witnessed how well Muslims and Han Chinese get along. One day while sitting in the yard of the Niujie mosque, I met a young man who I later learned was an Egyptian. Named Ahmed, he had come to Beijing to marry a Han Chinese girl who he met in Cairo while she was studying there. But according to religious ritual, a non-Muslim girl or man cannot marry a Muslim unless he or she converts to Islam. A week later, when I met Ahmed again he told me that his dream had come true, the girl had decided to convert to Islam. She had met no objections from her family. Within a week she was issued a certificate by the mosque confirming that she was now a Muslim. I also have a female friend in Beijing, a Han Chinese, who is married to a Hui Muslim. They have a happy family. Today, when I see pictures of the bloody clashes in Xinjiang, it reminds me of what is happening here in Baghdad. I feel outraged as I witness the media repeating what they did in Iraq -- inciting internal conflict to serve certain agendas. My country has been suffering from foreign interference and domestic violence for more than six years. With the war, and the sectarian conflicts, our once prosperous country is now in ruins. The sectarian strife has been largely fanned by foreign powers to alienate Iraq's Sunnis, Shiites and Kurds, and the United States once even had a "separation-of-Iraq-into-three" scheme high on its agenda. What have ordinary Iraqis received -- be they Sunnis, Shiites, or Kurds? Nothing. Nothing but devastation, displacement and the loss of lives of innocent people. My son, Omar, was injured by a roadside bomb in October 2007. He was only 12 years old at the time. I call on the people to cool down and consider the whole picture: see what has happened in Iraq. Do not let yourself be fooled by those who try to undermine the security and stability of China by trying to destroy the peaceful co-existence of its ethnic groups.
SHIJIAZHUANG, July 6 (Xinhua) -- Chinese top political advisor Jia Qinglin Monday encouraged private companies to go "green" by developing new energy and energy-saving technologies. In a one-day inspection tour to Langfang city of central China's Hebei Province, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), visited the XinAo Group, a local private company specialized in research and development of renewable energy and new energy. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. When talking with the staff of the company, Jia said new energy and energy-saving industries would not only serve as an effective stimulus for the country's economic recovery, but were also of great potential and importance to future development. "Developing a green economy has been widely recognized by the world. Private companies can play an important role in the development of new energy and the environment-friendly and energy-saving industries," Jia said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. He noted that China's private companies were faced with both challenges and opportunities amid the current global financial crisis, and urged them to boost research, development and trade of energy-saving products and technologies. "In this way, the private business can create new market demand and more job opportunities," he said. Jia Qinglin (2nd R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009. He also urged local governments and relevant trade organizations to fully recognize the important role private business played in the national economy, and give favorable policies to help them prosper. The private companies, on the other hand, should make use of the opportunities at hand, and increase their exports and improve their competitiveness in the international market, he said. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits XinAo Group, a private company specialized in research and development of renewable energy and new energy, during his inspection tour in Langfang, a city in north China's Hebei Province, July 6, 2009.
BEIJING, May 28 (Xinhua) -- Zhang Xuanqi got up Thursday morning and fastened a small hand-made scent bag on his shirt. This kind of adornment has been a must for him on this special day every year since his childhood. "Inside the bag is cinnabar that can keep away evils," said Zhang, a middle school student in Quwo County, Shanxi Province. Local people take part in the dragon boat race to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Chengdu, southwest China's Sichuan Province, May 28, 2009. The Duanwu Festival falls on May 5 of Chinese lunar calendar. This year's Duanwu festival falls on Thursday.It is generally believed that the Duanwu Festival is marked to remember to Qu Yuan, one of the greatest ancient Chinese poets who drowned himself in the Miluo river to protest the corrupt court.As Chinese celebrated the Dragon Boat Festival, or Duanwu, which fell on Thursday this year, folk customs for this event have been reviving among both the old and young in this fast developing country. To wear small bags, usually with cinnabar, medicinal herbs or aromatic materials inside, is one of the traditions. The festival is for people to remember Qu Yuan, a patriotic poet more than 2,000 years ago, who, according to legend, drowned himself in the Miluo River in Hunan Province to protest the then corrupt kingdom. Residents take part in a Zongzi making competition in Zhoushan, east China's Zhejiang Province, May 28, 2009, to celebrate the Chinese traditional Duanwu Festival, also known as the Dragon Boat FestivalPeople also eat glutinous rice dumplings wrapped in bamboo leaves, or called zongzi, to observe the festival. Legend has it that people drop zongzi into the water to feed Qu Yuan's spirit. Others say that they are meant to keep fish from feeding on Qu's body. VARIOUS ACTIVITIES On Thursday, dragon boat races were organized in many places across the country. To mark the event, the 2009 National Dragon Boat Month and the Fourth China International Dragon Boat Tournament kicked off on the Miluo River. Ten domestic teams and an American team joined the competition. Chinese folk artists perform lion dance to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Baoshan, east China's Shanghai Municipality, May 28, 2009."Our fishermen members have been making use of the fishing ban period from late January to September to have dragon boat race training," said Jin Fangming, coach for the team from eastern Jiangsu Province. In southern Guangdong Province, 68-year-old farmer Yao Songjie in Yangqi Village joined a boat race with dozens of other participants . "This is an activity we farmers love most," he said before the race began. Chinese folk artists perform for local residents to mark the Duanwu Festival, also known as the Dragon Boat Festival, in Taiyuan, capital city of north China's Shanxi Province, May 28, 2009. The Duanwu Festival falls on May 5 of Chinese lunar calendar. This year's Duanwu festival falls on Thursday.It is generally believed that the Duanwu Festival is marked to remember to Qu Yuan, one of the greatest ancient Chinese poets who drowned himself in the Miluo river to protest the corrupt court.
来源:资阳报