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BEIJING, May 10 (Xinhua) -- Tao Dayong, a well-known Chinese economist and also honorary vice chairman of the ninth Central Committee of China Democratic League (CDL), has died of illness at the age of 93.President Hu Jintao, Premier Wen Jiabao and other senior leaders, including Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, expressed their condolences.Tao, a native of Shanghai, graduated in 1940 from the Department of Economics of the Nanjing-based Central University.He joined the China Democratic League in 1947 and became chief editor of the Economic Weekly, a magazine published by the Hong Kong-based Chinese language newspaper Wen Wei Po in 1949.Tao was a member of the sixth, seventh, and eighth National People's Congress Standing Committee and a member of the Standing Committee of the Sixth National Committee of the Chinese People's Political Consultative Conference.

BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.

BEIJING, May 19 (Xinhua) -- Major indices of China's large ports mostly pointed to better performance in April with increasing cargo throughput and exports volume, the Ministry of Transport said Wednesday.According to latest figures posted on the ministry's website, China's large sea ports and river ports saw rapid throughput growth in cargo, exported goods volume and containers from January to April.Passenger throughput via large ports, however, fell 18.5 percent from a year earlier to 295 million in the first four months of 2010, the ministry said.Large ports are classified in China as sea ports with an annual cargo throughput above 15 million tonnes and river ports with an annual cargo throughput above 10 million tonnes.From January to April, cargo throughput in those large ports jumped 20.2 percent year on year to about 2.48 billion tonnes, the ministry said.About 206.5 million tonnes of goods were exported via the large ports during the January-April period, up 27.2 percent from a year ago.Container throughput rose 22.4 percent year on year to 436.81 million TEUs in the first four months, according to the ministry.

LUANDA, May 28 (Xinhua) -- Angolan President Jose Eduardo dos Santos on Friday held talks with visiting Chief of the General Staff of the Chinese People's Liberation Army Chen Bingde, officials with the military delegation told Xinhua.Welcoming Chen to visit Angola, President dos Santos said the two countries enjoyed friendly ties and Angola appreciated China's assistance to the Angolan people and armed force.The president said Angola attached importance to cooperation with China in various fields, and hoped to build up a sound and working mechanism on staff training and infrastructure construction to promote military ties between the two countries.Chen extended best wishes and cordial greetings from Chinese President Hu Jintao, and he stressed the friendly cooperation between China and Angola fell in line with the common interests of the two peoples, and also contributed to peace and stability in the world community.He said, military cooperation, as part of overall cooperation between China and Angola, has been developing smoothly, and the Chinese military was ready to promote friendly cooperation with the Angola armed forces under the new international circumstances.Chen arrived in Luanda on Wednesday for a three-day visit on the second leg of his three-nation tour on the African continent. He flew in Luanda from Namibia and was also expected to leave for Tanzania on Saturday. Briefing reporters on Chen's mission, Chinese Ambassador Zhang Bolun said China hoped to strengthen bilateral military cooperation in the areas of staff training and equipment supply, and Chen's visit to Luanda was conducive to strengthening military ties between the two countries, including exchange of institutional delegations, staff training and so on.

TASHKENT, May 3 (Xinhua) -- Chinese Finance Minister Xie Xuren made three proposals to the Asian Development Bank (ADB) for its future development here on Monday.At a business session of the 43rd annual meeting for ADB Board of Governors that kicked off Monday, Xie said the ADB should fully tap its potential as a knowledge platform in seeking ways for Asia 's future development.It should also promote collective economic expansion of Asia by deepening regional economic cooperation, said Xie.Thirdly, the ADB should raise its assistance efficiency and enhance its capacity for institution building, while making active contribution to the regional prosperity and stability, he added.All Asian members are still facing difficult tasks of retaining economic growth and adjusting economic structure, because the basis for world's recovery from the global financial crisis has not been consolidated so far, said the Chinese minister.On the sidelines of ADB's first annual meeting in Central Asia, Xie also met with Uzbek President Islam Karimov, Uzbek First Deputy Prime Minister and Finance Minister Rustam Azimov and heads of delegations including Bangladesh, New Zealand and Fiji.