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BEIJING, Sept. 12 (Xinhua) -- The government has cut back on import taxes on spare parts of large equipment and canceled the import tariff exemption on some complete sets.     The adjustments were made to support the domestic manufacturing of large equipment, said the Ministry of Finance.     Taxes levied on domestic enterprises for importing key spare parts of large equipment, including ultra- and extra-high voltage transmission equipment and transformers, large petro-chemical equipment and large coal-chemical equipment, would be refunded and injected into the enterprises as investment from the nation, it said.     The policy applied to imports after Jan. 1, 2008, depending on the date of declaration of imports.     In the meantime, the import of some complete sets of equipment by enterprises approved after Sept. 1, 2008 would no longer enjoy the tax exemption. Both domestic and foreign-funded projects are subject to the new policy, the ministry said.     Imports of such equipment by enterprises approved before Sept. 1 would continue to enjoy the previous tax policies until March 1,2009.

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.

SANAA, June 25 (Xinhua) -- Chinese Vice President Xi Jinping said here Wednesday that China and Yemen share a big potential and many favorable conditions for expanding the scale of investment and cooperation.     Xi made the remarks in a speech at the opening ceremony of the China-Yemen Bilateral Investment Seminar, which attracted some 300 Chinese and Yemeni officials and entrepreneurs, including Yemeni Prime Minister Ali Muhammad al-Mujawar.     Xi said it is the natural requisite of economic development for the two countries to deepen mutually beneficial cooperation and create common prosperity.     Noting that Yemen has geographical advantages and rich reserves of natural resources, he expressed the hope that companies of the two countries could proceed from traditional friendship to mutual understanding and cooperation.     Xi said the companies of the two countries should stick to mutually beneficial and win-win practices so as to promote common development. Chinese Vice President Xi Jinping (R) meets with Yemeni Vice President Abdal-Rab Mansur Al-Hadii (L) in Sanaa, capital of Yemen, June 24, 2008. Xi started a two-day visit to Yemen on Tuesday    The Chinese leader encouraged entrepreneurs of the two countries to boost exchanges by actively improving the environment, expanding investment channels and optimizing investment structure.     He expressed the belief that under the support of the two governments and the joint efforts of Chinese and Yemeni entrepreneurs, the friendly cooperation between China and Yemen will witness even greater growth.     The seminar was jointly sponsored by the China Council for the Promotion of International Trade and the General Investment Authority of Yemen.     Yemeni Prime Minister al-Mujawar said at the seminar that China is an important, cooperative partner of Yemen. The two countries' relations enjoy a good momentum and there is a broad prospect of trade and economic cooperation.     He said Yemen welcomes investment from the Chinese companies in the country, especially in areas like energy, mining, fishing and infrastructure. The Yemeni government will create a favorable investment environment for these activities, he said.     Xi arrived here Tuesday for an official visit to Yemen. He will conclude the visit and fly back home Wednesday.

BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.

XIANYANG, Shaanxi, Oct. 5 (Xinhua) -- President Hu Jintao has written to the Tibet Nationalities Institute (TNI) to celebrate its 50th founding anniversary, which was the first institution of higher learning for ethnic Tibetans set up by the Central Government outside Tibet Autonomous Region.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee, hailed the institute's "important contribution to the economic development and social progress" of Tibet, which has turned a great number of ethnic Tibetans into high-quality cadres and specialists.     Hu expressed the hope that the TNI would continuously improve its managerial level in teaching, play a better role as the training base for Tibetan cadres, and make greater contributions to improving the life of people of different ethnic groups in Tibet and promoting stability and unity in the region.     A ceremony was held on Sunday at the TNI in Xianyang City, Shaanxi Province, northwest China. Raidi, former vice-chairman of the Standing Committee of the National People's Congress, who is an ethnic Tibetan and a former leader of Tibet Autonomous Region, attended the celebration.

来源：资阳报