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BEIJING, Oct. 30 (Xinhua) -- Chinese Vice President Xi Jinping said here Friday that members of the Communist Party of China (CPC) should better comprehend the Scientific Outlook on Development and use it to guide their work. Xi, who is also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, called for intensified efforts of CPC members to study the gist of the recently concluded Fourth Plenary Session of the 17th CPC Central Committee and incorporate the requirements of Scientific Outlook on Development into daily work and life. Xi made the remarks at a meeting on further studying and implementing the Scientific Outlook on Development. The Scientific Outlook on Development stresses people-oriented, comprehensive, coordinated and sustainable economic and social development. The Fourth Plenary Session of the 17th CPC Central Committee, which concluded on Sept. 18, decided to expand democracy within the Party and further fight corruption.
GUANGZHOU, Nov. 1 (Xinhua) -- China is to maintain basic stability and continuity in the economic policies and RMB exchange rate to ensure a foreseeable prospect for its businesses. Minister of Commerce Chen Deming made the remarks Sunday at the Canton Fair, an important barometer of China's foreign trade, in Guangzhou City, capital of southern Guangdong Province. In the following months, China would maintain stability of the macro-economic policies, stick to the proactive fiscal policy and moderately easy monetary policy, Chen said. Meanwhile, the RMB exchange rate should also maintain relatively stable so that domestic manufacturers and exporters can better predict and adjust to the market, Chen added. Chen said the number of participants to the fair and the trade volume showed China's foreign trade was recovering, but uncertainties remained. Chen urged Chinese enterprises to enhance their competitiveness with better quality and lower cost by technological upgrading and restructuring. "Next year, our focus will be on the quality of export products," he said. "Enhancing competitiveness with better product quality and brand-building is also an effective way of avoiding trade protectionism," Chen added. In the previous three quarters this year, 19 countries and regions have launched 88 trade remedy investigations against Chinese goods, totaling 10.2 billion U.S. dollars. "In addition to the recovering export, China's import is also on the rise, contributing significantly to the recovery of the world economy," Chen said.

BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed. The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively. CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan. IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch. Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007. Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values. Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus. Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010. Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling. "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model." It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan. The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities. Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed. Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data. The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.
BEIJING, Nov. 17 (Xinhua) -- China and the United States on Tuesday voiced support for the peace and stability in South Asia. "The two sides welcomed all efforts conducive to peace, stability and development in South Asia," said a joint statement issued after a meeting here between Chinese President Hu Jintao and visiting U.S. President Barack Obama. They support the efforts of Afghanistan and Pakistan to fight terrorism, maintain domestic stability and achieve sustainable economic and social development, said the statement. They also pledged support for the improvement and growth of relations between India and Pakistan. The two sides are ready to strengthen communication, dialogue and cooperation on issues related to South Asia and work together to promote peace, stability and development in that region, according to the statement.
BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here on Tuesday that both China and the United States appreciated the major role of the G20 summit in coping with the global financial crisis. Speaking to the press after talks with visiting U.S. President Barack Obama, Hu said he and Obama spoke highly of the significant roles played by the G20 summit. "China and the United States would work together with all other members to fully carry out the commitments of all G20 summits and continuously strengthen the role of G20 in the management of the global economy, while pushing forward the international financial system reform and increasing the voices of developing countries on the global financial arena by ensuring that they are better represented," Hu said.
来源:资阳报