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BEIJING, Sept.1 (Xinhua) -- China's securities watchdog on Monday required fund companies to make their information release more transparent and rolled out a draft regulation on brokers, its latest moves to boost the healthy development of the country's stock market.     The information of stock-oriented funds, such as their periodic results, would be regularly publicized on the website of the China Securities Regulatory Commission, according to a standard format in the eXtensible Business Reporting Language (XBRL), starting from Jan. 1 next year, the CSRC said in a statement on Monday night.     "The move was to further improve the quality of information release by fund companies," said the CSRC.     The new rule was expected to help third-party agencies to appraise and supervise the management of fund companies. Previously it was difficult for a third party to collect and analyze the first-hand information of funds, which was not available to all.     Meanwhile, the CSRC said a new regulation on securities brokers would prohibit them from surpassing their authority by manipulating customers' accounts or providing investment counseling.     The dealers would also be forbidden to "offer or spread false, misleading information", or "tempt customers to make unnecessary deals," said the CSRC. Nor could they make agreements on sharing investment proceeds with customers, or promise gains or compensation for losses.     "It was aimed at protecting the legal interests of fund investors and ward off risks caused by ill regulation of securities dealers," said the CSRC in a separate statement.     The watchdog's actions were part of China's recent efforts to straighten out the stock market order and lay a sound foundation for a long-term development.     The CSRC announced earlier this month it would raise the refinancing threshold for listed companies, saying the dividend they pay to shareholders in the recent three years should be no less than 30 percent of its distributed profits, compared with the previous set line of 20 percent.     Refinancing plans of listed companies had led to share price declines and complaints in China as liquidity concerns loomed over the stock market. Investors also blamed their losses on insider trading and opacity of fund companies.     Last week, a draft amendment to the Criminal Law was submitted to China's top legislature, stating that employees of financial institutes will face criminal prosecution for insider trading. Currently there were no relevant provisions in the Criminal Law.     China's benchmark Shanghai Composite Index has shed more than 60 percent from its peak in mid October last year.     In the first half, 364 funds in the country incurred a record loss of 1.08 trillion yuan (about 154 billion U.S. dollars), more than 90 percent coming from stock-oriented or hybrid funds, according to statistics from the TX Investment Consulting Co..

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BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign.     These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.     The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said.     The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.     However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth.     CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.     CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.     The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.     From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.     The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

BEIJING, Sept. 6 (Xinhua) -- With a dazzling and emotional show that highlighted the value, dignity and dream of life, the Beijing 2008 Paralympic Games opened in the Chinese capital on Saturday night, rallying the world under one shared dream of "transcendence, integration and equality" for the disabled.    "Ge Jiu Ge Wei (ready), Yu Bei (set) ... " At the order given in Chinese by International Paralympic Committee (IPC) President Philip Craven, nearly 100,000 spectators in the National Stadium, or the Bird's Nest, in north Beijing, clapped their hands simultaneously to give a unique and resounding "go" signal to the world's premier sporting event for elite athletes with disabilities.Photo taken on Sept. 6, 2008 shows the general view of the opening ceremony of the Beijing 2008 Paralympic Games in the National Stadium in Beijing, ChinaA record 4,000-plus athletes from 147 countries and regions, 10 times the figure at the Games' debut in Rome 1960, marched into the stadium amid thundering cheers from the stands, before Chinese President Hu Jintao declared the Games open at 22:36 Beijing time.    "These Games will have more athletes, more competing nations, and more sporting events than ever before," said Philip Craven in his opening ceremony speech, calling them "milestones in Paralympic history."    The three-hour ceremony climaxed when Hou Bin, China's triple Paralympic high jump champion with only one leg, lit the cauldron for the Games.Fireworks are displayed at the opening ceremony of the Beijing 2008 Paralympic Games held in the National Stadium in Beijing, China, Sept. 6, 2008With the torch on his wheelchair, the 33-year-old Hou used both hands to pull himself up along a hanging rope to the rim of the steel-latticed Bird's Nest to accomplish his laborious mission. Though suspended by wires, he had to halt and gasp for several times, with the entire crowd cheering him on loudly.    The Paralympic flame, first lit at the 600-year-old Temple of Heaven in south Beijing on Aug. 28, was relayed through 11 Chinese cities -- including ancient capitals Xi'an and Luoyang and modern metropolises Shanghai and Shenzhen -- in nine days, covering a distance of 13,181 kilometers and involving 850 torchbearers.Fireworks are displayed during the opening ceremony of the Beijing 2008 Paralympic Games in the National Stadium, also known as the Bird’s Nest, in Beijing, China, Sept. 6, 2008. Shortly before the cauldron was set ablaze, the IPC flag, which carries the IPC logo of red, blue and green curves -- a new design adopted just in 2003 and used at a Paralympics for the first time, was escorted into the stadium by a team of eight Chinese Paralympic gold medalists, and hoisted next to the Chinese national flag.    On behalf of all athletes and officials, Chinese athlete Wu Chunmiao and goalball referee Hao Guohua, holding a corner of the IPC flag, took the Paralympic oath, vowing to keep the Games competition fair and clean.    "Over the next 11 days, the heroines and heroes will undoubtedly be the athletes," said the IPC president.    The Paralympians, many in wheelchairs or on crutches and often seen supporting each other on the track, were ushered into the stadium minutes after the opening ceremony began at 20:00 Beijing time sharp.    All smiling broadly, they waved hands, hats and flags to the stands, and posed for pictures with team guides or volunteers.

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HANGZHOU, July 8 (Xinhua) -- Vice Premier Li Keqiang has urged the country's enterprises to raise their international competitiveness by speeding up transformation and adjustment in line with the changing domestic and global economic situation.     During a three-day inspection and research tour in the booming southeastern Zhejiang Province, which ended on Tuesday, Li visited textile factories, electric machinery companies and high-tech enterprises to get a first-hand assessment of enterprise reform amid a new domestic and international market climate. Chinese Vice Premier Li Keqiang (2nd L, front) speaks while visiting auto parts producer Wanxiang Group in China’s Zhejiang Province on July 7, 2008.During visits to Wenzhou-based enterprises including garment producer Fapai Group and lighter maker Rifeng, Li said the overall Chinese economy was fundamentally in good shape and China was confident of keeping its economy growing steadily and fast.     However, he said, the global economic slowdown and imported inflation were having an increasing impact on the economy and the country should take aggressive measures to deal with such challenges. Chinese Vice Premier Li Keqiang (C, front) talks with migrant worker Qiu Xucui (R, front) who is from the quake-hit Mianzhu city of southwest China’s Sichuan Province while visiting shoemaker Kangnai Group in China’s Zhejiang Province on July 6, 2008.In visiting electric machinery companies such as leading auto parts producers Wanxiang Group and Ruili Group Corp., Li said the economy was undergoing a critical period, which called for deeper reform.     The government should lose no time or opportunity to improve the market economic system and try to make price increases "acceptable" for both industries and the public, Li said.     He noted that China should also seek better development of foreign trade, improve the mix of imports and exports, and encourage Chinese enterprises to expand into the international market.     At high-tech enterprises like Supcon Group and Alibaba, which owns China's largest e-commerce website, Li said enterprises should also continue to promote technological innovation and improve their management so as to boost their competitiveness.     He also said vigorous development of enterprises was vital for the economy to maintain steady and fast growth and governments at all levels should do their best to provide better services for all companies and create a better climate for the development of enterprises

BEIJING, June 11 (Xinhua) -- Senior Chinese leaders have called on Chinese people to concentrate their energy on quake relief and economic and social development at the same time.     Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the call when meeting quake-relief model workers here on Wednesday.     Xi Jinping, who is China's vice-president and also member of the Standing Committee of the Political Bureau of the CPC Central Committee, also met with the model workers. Li Changchun (6th L, 1st row), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, and Chinese Vice President Xi Jinping (7th L, 1st row), also member of the Standing Committee of the Political Bureau of the CPC Central Committee, pose for a group photo with quake-relief model workers before the first lecture on the heroic deeds and thoughts in quake relief efforts, in Beijing, capital of China, June 11, 2008.    The model workers made lectures in the Great Hall of the People on their deeds and thoughts in quake relief efforts.     Li Changchun said that in fighting against the 8.0 magnitude quake that jolted southwest China's Sichuan Province on May 12, great national solidarity and spirit have been shown.     He praised the 37 model workers who came from different occupations, including the military, police, medical services and education, for their courage and engagement at the very front of the relief missions. Li Changchun (3rd R, 1st row), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, and Chinese Vice President Xi Jinping (2nd R, 1st row), also member of the Standing Committee of the Political Bureau of the CPC Central Committee, applaud during the first lecture on the heroic deeds and thoughts in quake relief efforts by quake-relief model workers in Beijing, capital of China, June 11, 2008    Li stressed that all party and government officials in quake-affected areas should not let up in supporting survivors and striving to help them rebuild their homes and the local economy.     On the other hand, officials should also make more preparations for the impending Olympics, he said.

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BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."

BEIJING, July 3 (Xinhua) -- A senior Chinese diplomat on Thursday urged developed and developing countries to work on common policies and cooperation to address the global challenges such as climate change and food security.     "China values dialogue between the Group of Eight (G8) and developing countries", Assistant Foreign Minister Liu Jieyi said at a briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit.     At the invitation of Japanese Prime Minister Yasuo Fukuda, Hu will attend the Outreach Session of the G8 Summit in Japan from July 7 to 9.     The G8, comprising the United States, Britain, Germany, Canada, France, Italy, Japan and Russia, holds a summit each year.     Liu said the issues to be discussed would be "important" and "urgent", and he hoped the meeting would promote the dialogue between South and North, step up multilateral cooperation to resolve global issues and ensure lasting peace and common prosperity. A briefing on President Hu Jintao's attendance at the Outreach Session of the G8 Summit is held in Beijing, July 3, 2008    Liu said China had been cementing dialogue and exchanges with the G8, citing the fact that Hu had participated in the past four dialogues among leaders of the G8 countries and developing countries.     China was involved in the ministerial meetings between G8 and developing countries focusing on finance, environment, development, science and technology, and energy, Liu added.     Hu would participate in a joint meeting with leaders from India, Brazil, South Africa and Mexico, attend in a summit of G8 countries and five developing countries, and take part in a meeting of leaders from the major economic powers to discuss energy security and climate change.     "President Hu will also attend a working lunch to discuss issues of common concern such as the world economic situation, food security and development", Liu said.

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BEIJING, July 31 (Xinhua) -- China's military would increase cooperation with foreign armed forces in order to contribute more to common development, Defense Minister Liang Guanglie said on Thursday.     At a reception at the Great Hall of the People in Beijing to mark the 81st anniversary of the People's Liberation Army (PLA), Liang said, "China will take the road of peaceful development, unswervingly, and carry out an independent and self-reliant, peaceful diplomatic policy and a defensive defense policy, no matter how the international situation changes."     A member of the Central Military Commission (CMC) and a state councilor, Liang stressed the fundamental necessity of the Army's acceptance of "the absolute leadership of the Communist Party of China (CPC)". A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. China would never take to hegemonism and expansionism and posed no threat to any other country, Liang said.     He noted the "positive changes" regarding the situation across the Taiwan Straits, while pointing out that pro-independence forces in Taiwan had never abandon their activities.     "We are strongly determined to oppose and curb the separatist activities of 'Taiwan independence' forces," he said.     The mainland would show its utmost sincerity and exert its greatest efforts for the welfare of Chinese compatriots on both sides of the Straits, to seek peace, safeguard China's sovereignty and territorial integrity, and safeguard the fundamental interests of the Chinese nation. A reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of Foreign Embassies in China and their wives also attend the reception. Liang also praised the efforts of the armed forces during the severe winter weather chaos at the start of the year and after the May 12 earthquake.     The reception was attended by other CMC members, including Chen Bingde, Li Jinai, Liao Xilong, Jing Zhiyuan, Wu Shengli and Xu Qiliang, as well as foreign military attaches.     In August 1927, the CPC-led armed forces held an uprising against warlords, which is regarded as the founding day of the services. reception is held by the Denfense Ministry of China to celebrate the 81st Army Day which will fall on August 1, 2008 in Beijing, China, on July 31, 2008. Military officers of foreign embassies in China and their wives also attend the reception.

TAIYUAN, Oct. 2 (Xinhua) -- Vice Premier Zhang Dejiang underscored the scientific outlook on development and production safety during an inspection tour to northern Shanxi Province on Wednesday and Thursday.     Zhang visited the site of the Sept. 8 landslide in Xiangfen County on Thursday morning, where an unlicensed iron ore tailings pond burst and killed at least 262 people.     "The September 8 landslide was a very serious production safety incident, causing great losses, having a bad impact and leaving a deep lesson," he said.     The vice premier said a thorough investigation into the cause of the incident should be conducted and that those responsible for it should be punished seriously in accordance with law.     A lesson should be drawn from the incident and people should be put first, he stressed, adding that more efforts should be exerted to crack down on unlicensed production and corruption behind production safety incidents.     He also demanded local authorities have a scientific outlook on development.     Production safety should be strengthened through more investment, scientific and technological progress and better management, the vice premier said.

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