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BEIJING, June 17 (Xinhua) -- Chinese shares sank to a 15-month low on Tuesday in very low volume, amid weak investor confidence. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row. The Shenzhen Component Index fared worse, sinking 4.03 percent, or 395.77 points, to 9,429.50. The Hushen 300 Index, which reflects about 60 percent of the combined market value in Shanghai and Shenzhen, closed at 2,842.68 points, down 109.57 points, or 3.71 percent. Investors read information at a stock trading hall in Shanghai, China, June 10, 2008. The benchmark Shanghai Composite Index fell 2.76 percent to 2,794.75, its 10th loss in a row Total turnover was just 67.5 billion yuan (9.65 billion U.S. dollars). Financial, oil and petrochemical, real estate, mining, transportation and broker stocks led the plunge. China Merchant Property, for example, dipped 7.36 percent to 16.12 yuan. A man looks at the electronic board showing the stock index at a securities exchange in Shanghai, east China, June 17, 2008. The Shanghai index slid through the 2,800-point mark, touching 2,799.33 points at midday, shortly after the National Bureau of Statistics said the growth rate of fixed-asset investment slowed in the first five months. Urban fixed-asset investment rose 25.6 percent year-on-year to 4.026 trillion yuan in the first five months of 2008. The growth rate was 0.3 percentage points below the same period last year and 0.1 percentage point less than the January-April period this year. Analysts said the market was also being undermined by surging world oil prices, weakening regional economies and the government's efforts to curb liquidity and tame inflation. The People's Bank of China, the central bank, earlier this month lifted the bank reserve ratio by a full percentage point to 17.5 percent.
BEICHUAN, Sichuan, May 16 (Xinhua) -- Thirty-three more survivors were pulled out of debris in Beichuan county in southwest China on Friday as rescue efforts entered the fourth day since the 7.8-magnitude earthquake on Monday. The total number of survivors saved in Beichuan in Sichuan Province rose to 13,595, rescuers said. Beichuan, a county of about 160,000 people, is one of the worst-hit region, with 80 percent of the buildings collapsed and at least 7,000 lives lost. A 46-year-old survivor, Peng Zhijun, had lived on cigarettes, paper napkins and his urine when he was buried in the rubble in the past four days. He was still sober-minded almost 100 hours after the quake. Doctors said he suffered bone fractures in the left arm and slight injuries in the legs, but the other parts of his body were basically in good condition. "Natural disasters cannot be avoided. I had to save me from myself," Peng told reporters Friday evening. Deng Jiaying, a 86-year-old woman, evacuates from the mountain area with the help of the Chinese People's Liberation Army (PLA) soldiers in Beichuan County, southwest China's Sichuan Province, May 16, 2008. Many victims trapped in the mountain area of the county evacuated under the escort of PLA soldiers on Friday.( He recalled that more than 10 people had been buried beside him in the rubble. "At the very beginning, they were all alive. But unfortunately, they died one after another." "I had encouraged some of them to drink their urine. But they did not listen," he said. Zhang Yan, a 36-year-old woman pharmacist, was rescued at 2:36 p.m. Friday. She was unconscious and soldiers carried her on their backs to a nearby medical center. A 72-year-old woman named Deng Zhongqun was found by soldiers after being stranded at her badly damaged hillside house. She had been injured by a falling girder and had eaten only nuts over the past four days. "Thank goodness for the soldiers. I only weigh 65 kilograms and they carried me by turns on their backs, walking miles to reach the medical station," said Deng. The death toll in Sichuan alone exceeded 21,500 while 14,000 others remained buried as of 4 p.m. Friday, vice provincial governor Li Chengyun said at a press conference. He said that 159,000 people were injured in the massive earthquake and 4.8 million people had been relocated. Friday's death toll rose by about 2,000 from that of Thursday. Sichuan had experienced 4,432 aftershocks in the past four days, Li said. The national death toll from the earthquake rose to 22,069 as of 2 p.m. Friday, while 168,669 people were injured, the latest government statistics show. In addition to the deaths in Sichuan, 364 were killed in Gansu Province, 109 in Shaanxi Province, 15 in Chongqing Municipality, two in Henan Province, one in Yunnan Province and one in Hubei Province. The central government allocated another 1.17 billion yuan (167million U.S. dollars) to the relief fund for quake-hit areas on Friday. This brought the disaster relief fund from the central budget to 3.41 billion yuan. Public donations in both cash and goods to the quake-hit areas rose to 3.175 billion yuan as of 4 p.m. Friday, according to the Ministry of Civil Affairs. China has mobilized more than 130,000 troops for rescue operations, who were desperate to excavate survivors despite the passing of the prime time for survivors' rescue -- 72 hours after the quake. Foreign rescue teams from Japan, Russia, the Republic of Korea and Singapore have arrived in Sichuan to aid the disaster relief efforts.

TIANJIN, Aug. 19 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday urged local officials and enterprises to seize opportunities and persevere in reform and opening-up to achieve stable and fast economic growth. Efforts should be made to foster new areas of economic growth so as to reach the goal of long-term steady and fast economic development, Li said during an inspection tour from Aug. 18-19 in Tianjin, a north China port city. Li Keqiang (C), Chinese Vice Premier and member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspects in Tianjin, north China, Aug. 18, 2008. Li Keqiang paid a visit to Tianjin from Aug. 18 to Aug. 19.Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, visited local factories, construction sites, port, commercial and trade service zones and residential districts during his inspection tour. He urged local officials to speed up efforts to build the Binhai New Area into a northern portal of the country's reform and opening up drive, a base of modern manufacturing and scientific research and application, and an international shipping and logistics center. The Binhai New Area, a pilot reform zone, consists of the three administrative districts of Tanggu, Hangu and Dagang and eight industrial zones currently under construction. Li stressed the importance of expanding domestic market demands in boosting economic development in an era of global economic uncertainty. He called for greater efforts to raise Chinese people' income through various channels and actively explore the rural consumption markets. Li Keqiang (C), Chinese Vice Premier and member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspects in Huaming Township of Dongli District in Tianjin, north China, Aug. 18, 2008. Li Keqiang paid a visit to Tianjin from Aug. 18 to Aug. 19
BEIJING, June 7 (Xinhua) -- China's central bank on Saturday ordered lenders to set aside more money as reserve, the fifth such move this year. It was the latest effort to enhance liquidity management in the banking sector. The reserve-requirement ratio would be raised by 0.5 percentage points on June 15, and another 0.5 percentage points on June 25, the People's Bank of China (PBOC) said on its website. This will bring the ratio to a record high of 17.5 percent. The PBOC also said that corporate financial institutions in the worst quake-hit areas including Chengdu and Mianyang, would postpone carrying out the regulation. But it didn't say how long the delayed period would be. "The rise, a further materialization of the tight monetary policy, is aimed at strengthening liquidity management in the banking system," the statement said. "The government adopted differential monetary policies to support reconstruction in the quake-hit areas," said Peng Xingyun, a senior expert with the Chinese Academy of Social Sciences (CASS). Zhou Xiaochuan, the central bank governor said earlier that the PBOC was to take flexible monetary policy to aid after-quake reconstruction. The 8.0-magnitude earthquake centered on Sichuan's Wenchuan County has so far caused 206.53 billion yuan of economic losses to the industrial and mining enterprises in the quake regions. The PBOC had raised the ratio four times previously this year. The latest was on May 12 when it lifted the ratio to a new high of16.5 percent. Yin Jianfeng, director of the Institute of Finance and Banking with the CASS, said the move would help the country reduce inflationary pressure and to control excessive investment. "But the move will not be as effective as the government expected because inflation nationwide mainly resulted from surging production material and food prices," he said. "A simple monetary policy will not help." The consumer price index (CPI), the main inflation gauge, was up 8.5 percent in April from a year earlier. This was nearly equal to February's 8.7-percent rise, the most since May 1996. Some market experts said that after-quake restoration and reconstruction would beef up fixed assets investment, and add more inflation pressure to the nation's sizzling economy. Soaring demand for cement, steel, copper, zinc, and a luminium were expected to push up the prices of basic building materials, according to the experts. Zuo Xiaolei, Galaxy Securities chief economist, said huge foreign exchange reserves and economy unrest in neighbouring countries had posed great pressure to China's economy. This had forced the government to adjust its economic policy before it could reach a balance. "A great deal of hot money swarmed into China's capital market, and the PBOC aims to hedging excessive monetary liquidity," said Wu Xiaoqiu, head of the Financial and Securities Research Institute of the China Renmin University. Wu said the government was likely to carry out more monetary policies to curb inflation and liquidity in the near future. China adopted the tight monetary policy late last year to prevent the economy from overheating. It was also to guard against a shift from structural price rises to evident inflation. The country adhered to the policy despite a global slowdown hit by the international credit crunch. The country's economic growth slowed in the first quarter but still reported double-digit growth. It expanded 10.6 percent, compared with 11.7 percent in the same period a year ago.
BEIJING, May 6 (Xinhua) -- Premier Wen Jiabao said on Tuesday that China supported the Caribbean integration process. "China will strengthen dialogue with the Caribbean community based on mutual respect, reciprocity and equality to promote south-south cooperation and achieve common prosperity," said Wen. Chinese Premier Wen Jiabao (L) hosts a welcoming ceremony for his counterpart of Barbados David Thompson in Beijing, capital of China, May 6, 2008. Wen Jiabao held talks with David Thompson on May 6. He made the remarks during a meeting with David Thompson, prime minister of Barbados, who arrived in Beijing on Monday for a four-day official visit to China. Wen said China and Barbados had maintained good cooperation in the areas of trade, technology, and personnel training as well as in such international organizations as the United Nations. "Both China and Barbados are developing nations and enjoy common interests," Wen said. He vowed to expand cooperation with Barbados on trade, tourism, architecture and sustainable development. Thompson expressed gratitude for China's support to his country's economic and social development. He said Barbados attached importance to relations with China and would continue adherence to the one-China policy. He also said that Barbados supported the Beijing Olympic Games and China's participation in the Inter-American Development Bank.
来源:资阳报