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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.

BEIJING, May 29 (Xinhua) -- China's Office of State Flood Control and Drought Relief Headquarters (SFDH) urged local governments to strengthen flood control at a meeting here on Thursday.     Water resources authorities should double check the preparation work for the incoming flood season, strengthen monitoring systems and ensure the safety of major rivers and large- and medium-sized reservoirs, it said.     It also asked relevant authorities in quake zones to pay special attention to flood control and protect earthquake victims from fresh dangers.     Flood control precautions and safe water supplies in cities holding competitions for the 2008 Olympic Games in August should be ensured. It added that drought prevention work should also be listed on the agenda.     The SFDH initiated a level-three emergency response to the torrential rains that hit China over the past week causing 57 deaths.

PYONGYANG, June 18 (Xinhua) -- The top leader of the Democratic People's Republic of Korea (DPRK), Kim Jong Il, met visiting Chinese Vice President Xi Jinping on Wednesday to highlight the warm ties between the two neighboring countries.     At the meeting, Xi conveyed Chinese President Hu Jintao's greetings to Kim. He also congratulated the leader on the 60th anniversary of the founding of the DPRK, wishing it even more and greater achievements in the future.     Kim, who is the general secretary of the Workers' Party of Korea (WPK) and chairman of the National Defence Commission, asked Xi to convey his greetings to President Hu, general secretary of the the Central Committee of the Communist Party of China (CPC). Kim Jong Il (R), top leader of the Democratic People's Republic of Korea (DPRK), meets with visiting Chinese Vice President Xi Jinping in Pyongyang, June 18, 2008.    Welcoming Xi, Kim said his visit to the DPRK reflects the great importance attached by China to developing the traditional friendly relations between the two countries.     Xi, a member of the Standing Committee of the CPC Central Committee's Political Bureau, is in Pyongyang for an official goodwill visit at the invitation of the WPK Central Committee and the DPRK government.     The DPRK is the first stop on Xi's first overseas trip since taking office earlier this year. He is also scheduled to visit Mongolia, Saudi Arabia, Qatar and Yemen.     Kim once again expressed condolences over the loss of life in the severe earthquake in China's Sichuan province. He praised the courageous deeds of the CPC, the Chinese government, the armed forces and the people of China during the rescue mission. Kim Jong Il (2nd R Front), top leader of the Democratic People's Republic of Korea (DPRK), and visiting Chinese Vice President Xi Jinping (2nd L Front) walk to the meeting hall in Pyongyang, June 18, 2008.Their work fully demonstrated the advantages of the socialist system with Chinese characteristics. said Kim.     He expressed the belief that under the strong leadership of the CPC and the Chinese government, the Chinese people will definitely be able to overcome the aftermath of the earthquake and successfully rebuild the quake-affected areas.     He also wished the Beijing Olympic Games all success.     Following the devastating earthquake of May 12, the WPK, the DPRK government and the people of the country expressed condolences to China in various forms, and also provided relief assistance, Xi said.     He hailed the successful Beijing Olympic torch relay in Pyongyang.     The Chinese vice president expressed his heartfelt gratitude for the support, which he described as a token of the deep feelings and profound friendship the people of the DPRK nurture toward the Chinese.     China is taking active steps to rebuild the quake-affected areas, he said, adding that his country is confident and fully capable of achieving success in combating the natural disaster while maintaining social and economic development.     China is capable of hosting a high-level Olympic Games with unique characteristics, Xi emphasized.     He said the traditional friendship between China and the DPRK was fostered by earlier generations of leaders from both countries and forged with the blood of the two peoples.     The people of the two countries have always understood, sympathized, supported and helped each other, said Xi, adding that the China-DPRK friendship is inalterable and has withstood international flux.     He said China is ready to work with the DPRK to add momentum to the development of bilateral relations.     China is ready to maintain high-level contact and deepen trade and economic cooperation with the DPRK, he added.     Xi made special mention of the China-DPRK friendship year to beheld jointly in 2009. He also proposed the two countries strengthen coordination on regional and international issues of common concern.     Kim said the DPRK-China friendship is an invaluable heritage handed down by the previous generations of revolutionaries of either nation. This friendship has been and will always be an invaluable treasure, he added.     It is the firm and unchangeable stance of the DPRK to unswervingly work for the development of the traditional DPRK-China friendship, the top DPRK leader pledged.     The year 2009 marks the 60th anniversary of the establishment of diplomatic ties between the two countries, which will jointly host DPRK-China friendship year activities.     The DPRK is ready to take this opportunity to join hands with China to further advance friendly and cooperative mutual relations, Kim said.     The two leaders also exchanged views on the six-party talks aimed at denuclearizing the Korean Peninsula.

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CHENGDU, May 18 (Xinhua) -- Chinese President Hu Jintao Saturday night expressed gratitude to foreign countries and people who have offered aid since a major earthquake struck the country.     "On behalf of the Central Committee of the Communist Party of China (CPC), the State Council and the Central Military Commission, I express heartfelt thanks to the foreign governments and international friends that have contributed to our quake-relief work," Hu said. Chinese President Hu Jintao Saturday night speaks at a meeting on rescue and relief work of the earthquake, expressing gratitudes to foreign countries and people who have offered aid since a major earthquake struck the country.Hu, also general secretary of the CPC Central Committee, made the remarks at a meeting on rescue and relief work after the 7.8-magnitude earthquake ravaged southwestern Sichuan Province Monday afternoon.     Hu also conveyed his greetings to the government officials and people in the disaster-hit areas, the People's Liberation Army (PLA), armed police, militia, reservists, public security staff, medical personnel, journalists and all people making "selfless devotions" to the quake-devastated areas.     More than 200 rescuers from Japan, Russia, the Republic of Korea (ROK) and Singapore are in Sichuan to help with the rescue and disaster relief work.     A 61-year-old woman was saved alive Saturday evening by Russian rescuers after being buried for up to 127 hours in the rubble, the first survivor found by foreign rescuers.     The earthquake, the worst in decades, had caused 28,881 deaths nationwide as of 2 p.m. Saturday. Many countries have offered help including making donations and sending rescue teams.     QUAKE RELIEF ATOP GOVERNMENT WORK AGENDA     In the meeting, Hu urged local governments at all levels and relevant central government departments to take quake relief as the most important and pressing issue in their work.     He called for unremitting efforts to search for and rescue the trapped people though more than five days had passed after the disaster.     "We should put people first and saving people's lives is still the top priority of the relief work," he said.     Troops, armed police, and public security personnel should reach villages and search every collapsed buildings to save the people, he said.     Hu also called for all-out efforts to save and cure injured survivors, urging to transfer them to hospitals with better conditions.     Hygiene measures in the quake-hit areas should be beefed up to prevent the spread of diseases, and more medical experts should be sent to these areas to help prevent and control possible epidemics, Hu said.     During the meeting, Hu expressed his concern for the people in the quake-devastated areas, calling for arrangements of supplies of daily necessities to meet people's demands.     Food, clothes, drinking water and temporary shelters must be ensured, he emphasized.     Hu also underscored social stability in quake hit areas, ordering officials to give considerate comfort and condolence to people to ensure a peaceful social environment.     "We must keep highly alert" against aftershocks and avoid further losses, he warned.     Hu also called for tightened monitoring and prevention measures on geological disasters such as landslides and mud-rock flows.     He said early planning is important for reconstruction as the country now faces a challenging task in this regard.     He also ordered early preparations and arrangements to deal with the issues of orphans, seniors and disabled.     The meeting was presided over by Vice Premier Hui Liangyu, who urged implementation of the overall quake-relief strategies of the central government.

BEIJING, Oct. 13 (Xinhua) -- Over 500 participants of Asian and European Non-Governmental Organizations (NGOs) gathered here on Monday for a three-day forum to discuss issues covering social and ecological justice.     Addressing the opening ceremony of the seventh Asia and Europe People's Forum (AEPF), Chinese Foreign Minister Yang Jiechi believed the forum participants would follow the principle of equality and mutual respect, fully exchange views on subjects related to the theme of the meeting, seek common ground while putting aside differences, increase consensus, make constructive contributions and work together to make the event productive. The photo shows ageneral view of the opening ceremony of the 7th Asia-Europe Peopl's Forum in Beijing, capital of China, on Oct. 13, 2008. More than 500 non-governmental delegates from Europe and Asia participate in the forum that aims to promote social justice and enviromental protections.Its theme, "For social and ecological justice," covers a range of issues, including the Millennium Development Goals, climate change and ecological justice, social security in Asia and Europe, women's participation in political affairs, rights of the disabled and counter terrorism, all of which are common challenges confronting countries in Asia and Europe.     "I hope the participants will conduct in-depth discussions on these issues in a pragmatic manner and come up with practical and feasible suggestions that will serve as important policy reference for the upcoming Seventh Asia-Europe Meeting (ASEM)," Yang noted.     Asian and European leaders from more than 40 countries will gather in Beijing on Oct. 24 for the two-day ASEM Summit under the theme of "Vision and action towards a win-win solution."     "The Chinese side attaches great importance to the summit and is making active preparations for it," Yang said. Chinese Foreign Minister Yang Jiechi speaks during the opening ceremony of the 7th Asia-Europe Peopl's Forum in Beijing, capital of China, on Oct. 13, 2008. More than 500 non-governmental delegates from Europe and Asia participate in the forum that aims to promote social justice and enviromental protections.    "We hope the summit will help increase mutual understanding and trust and enhance multilateralism through extensive and in-depth political dialogue between Asia and Europe, advance globalization for mutual benefit and a win-win outcome, promote sustainable development and social harmony," he noted.     The ASEM Summit would produce fruitful results and contribute to the peace and development of the world and the well being of the people of both Asia and Europe, Yang said.     The forum, since its inception, had done much in promoting sustainable environmental, social and economic development, protecting the economic, social, cultural, civil and political rights of the people in Asia and Europe, and facilitating the participation of various sectors of society in the ASEM process, according to Yang.     The forum had put forward many good proposals that have attracted the close attention of ASEM, and contributed its share to Asia-Europe cooperation, Yang said.     "The Chinese government supports social organizations in China in their effort to fully participate in the activities of this forum, express the aspiration of China's social organizations, offer good opinions and suggestions and make constructive contribution to greater mutual understanding and friendship among people in Asia and Europe, closer solidarity and cooperation between Asia and Europe and in-depth growth of a new type of comprehensive partnership between the two regions."     The government would continue to give vigorous support to Chinese social organizations in conducting closer exchanges and cooperation with their counterparts from across the world and to facilitate their participation in international exchanges so they can play an even greater role in promoting mutual understanding and friendship between Chinese and people of other countries and in the building of a harmonious world, Yang noted.     He believed the forum would "play a positive role in promoting people-to-people exchanges and cooperation between Asia and Europe and in pushing forward the ASEM process." In addition, the forum would also make a unique contribution to maintaining world peace, stability and prosperity and promoting human progress and development, he said.     Zhang Zhijun, president of the China NGO Network for International Exchanges (CNIE), said the forum was faced with good opportunities at the present time when Asia and Europe enjoyed increasing cooperation.     The forum should continue to exert its own characteristics to strengthen understanding between Asian and European peoples, Zhang said.     He said the forum was a platform for exchanging experiences and ideas, for seeking solutions to some difficult issues, and for enhancing the healthy growth of Asian-European cooperation.     Zhang, on behalf of the organizing committee of the AEPF, expressed his gratitude for the Chinese government's support to the forum.

DUSHANBE, Aug. 28 (Xinhua) -- Leaders attending the Shanghai Cooperation Organization (SCO) summit in the Tajik capital issued a joint declaration Thursday on security, energy and several other issues.     The declaration was signed by Chinese President Hu Jintao, his Russian counterpart Dmitry Medvedev, Kazakh President Nursultan Nazarbayev, Kyrgyz President Kurmanbek Bakiyev, Tajik President Emomali Rakhmon and his Uzbek counterpart Islam Karimov.     ON USE OF FORCE     The leaders agreed that any attempt to solve problems by merely resorting to force could not work and would only hinder a comprehensive settlement of local conflicts, the declaration said.     A comprehensive solution to existing problems can be found only by taking into account the interests of all parties involved and including them all in the negotiation process rather than isolating any of them, said the declaration.     Any attempt to strengthen a country's own security at the expense of that of others is detrimental to maintaining global security and stability, it said.     On the issue of South Ossetia, the SCO members expressed their deep concerns over the tension triggered by the South Ossetia conflict, and called on relevant parties to solve existing problems peacefully through dialogue, strive for reconciliation and push for negotiations. Chinese President Hu Jintao (3rd L) poses for group photos with other leaders of the Shanghai Cooperation Organization (SCO) member states in Dushanbe, capital of Tajikistan, on Aug. 28, 2008, during the annual summit of the organization.ON SECURITY COOPERATION WITHIN SCO     The member states of the organization were satisfied with increased cooperation within the SCO framework in their fight against terrorism, separatism and extremism, the declaration said.     The SCO members reiterated their efforts to maintain the central coordinating role of the United Nations in the global fight against terrorism, and to steadfastly implement the UN Global Counter-Terrorism Strategy and to finalize a comprehensive convention on fighting global terrorism at an early date.     The leaders also pledged to establish a mechanism of joint assessment, prevention and response to external threats and challenges to regional security.     On the issue related to the creation of a global anti-missile defense system, they stressed that the establishment of such a system will not help in maintaining a strategic balance, runs counter to international efforts towards arms control and nuclear non-proliferation, and is not conducive to enhancing trust among countries and regional stability. 　　ON ENERGY & ENVIRONMENT     Against the backdrop of global climate change, it is of special significance for the SCO members to forge close cooperation in developing new energy technology, the declaration said.     Therefore, the SCO members should strive to seek a common position to address the negative impacts of climate change and develop environment-friendly clean energy.     The leaders pledged to seek global common development through bridging the technology gap between countries and eliminating poverty under the premises of ensuring all the countries to equally enjoy the benefits of globalization.     They agreed that it was of special significance to implement responsible fiscal and financial policies, monitor capital flows, and ensure food and energy security amid a world economic slowdown.     On the issue of water resources, they said it was of vital importance for the SCO members to conduct dialogue on the efficient use of water resources.     They also promised to strengthen consultation and cooperation in the field of human rights within the UN framework and cooperate with other regional organizations and integration mechanisms on cultural cooperation and promotion and guarantee of human rights.

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XIAMEN, Sept. 7 (Xinhua) -- China's southwestern province of Sichuan needs 1.67 trillion yuan (about 245.6 billion U.S. dollars) for reconstruction after the devastating earthquake on May 12, Huang Xiaoxiang, the province's vice governor, said on Sunday.     "Sichuan is still in need of a large amount of fund despite the efforts of the central government, local governments and other social sectors," Huang told a conference held in Xiamen City, in eastern Fujian Province.     The total funds, including those the central and other provincial governments raised, overseas donations, and lottery earnings, accounted for less than 25 percent of what the reconstruction work demanded. Quake-sufferers carry the re-found living necessities from the shattered houses at the quake-hit area of Huili County, southwest China's Sichuan Province Sept. 3, 2008    Huang said the province would rebuild 4.5 million urban and rural homes, 51,000 km of highways, 5,500 km of railways, 11,700 schools and 9,700 medical institutions.     Apart from that, 2,000 reservoirs, 810 power stations and more than 100,000 hectares of farmland needed to be restored.     The reconstruction work was expected to consume 37 million tonnes of steel, 370 million tonnes of cement, 210 billion bricks and 20 million cubic meters of timer.

CHENGDU, May 26 (Xinhua) -- China's top legislator Wu Bangguo arrived in Chengdu, capital of quake-hit Sichuan province Monday, where he visited a hospital and a distribution center of relief materials.     Wu, chairman of the Standing Committee of the National People's Congress, immediately went to the General Hospital of the Chengdu Military Command Area upon his arrival. China's top legislator Wu Bangguo visits Li Kecheng, a 55-year-old survivor who was saved after being buried in the rubble for 108 hours, in a hospital in Chengdu on May 26, 2008The hospital has received more than 3,000 injured people since May 12, when a 8.0-magnitude earthquake jolted southwest China and killed more than 60,000 people.     Two pupils from Beichuan county, one of the worst hit areas, Hua Meihua and Ji Lei, told Wu that they have received good treatment in the hospital and have been recovering.     "You are brave and good kids. You will recover soon. When you return to school, you must study hard," said Wu, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee,.     Wu also chatted with 81-year-old veteran Sun Menglin in the same ward. China's top legislator Wu Bangguo visits Yuan Yi, a girl of 20 who was saved after being buried in the rubble for 104 hours, in a hospital in Chengdu on May 26, 2008."I have never cried when I fought in the war as a soldier, I but wept this time. I was moved by the unity among people," said Sun whose left leg was seriously injured in the quake.     The hospital is also treating several survivors buried under the rubble for more than 100 hours.     Wu shook hands with four of them at the side of their beds. "You have created miracles of life. People across the country are thinking of you and hoping you to recover as early as possible. Let's believe no difficulty will stop us once we join hands," he said.     Wu thanked doctors and nurses at the hospital for working day and night to save lives.     He then went to the Chengdu Railway Station, which has become an important distribution center of relief materials from home and abroad.     Wu talked with volunteers working at the station. "Coming from every corner of the country, you are an important force in the quake relief efforts. I hope relief materials could be delivered to thousands of needy people through your hard work."

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BEIJING, June 19 (Xinhua) -- China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices.     Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S. dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne.     The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC).     The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per tonne, up more than 16 percent and 18 percent respectively.     The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively.     The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices.     Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year. An employee changes the cards showing the prices of refined oil at a gas station in Beijing on the early morning of June 20, 2008The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official.     The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises.     For instance, farmers would get five yuan per mu (1/15 hectare)of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families.     The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise.     The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February.     The commission also said the average electricity tariff will be raised by 2.5 cents per kwh starting from July 1, up 4.7 percent on average.     It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading.     More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises.     Official statistics showed that power coal prices went up by more than 80 yuan per tonne in the past two years. The prices had gone up by 60 yuan since the beginning of the year.     The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19.     The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies.     The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise.     Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said.     "The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.

BEIJING, June 24 (Xinhua) -- Chinese Premier Wen Jiabao has called on the country's top scientists to make more contributions to the social and economic development with more science and technology achievements. Wen made the remark while attending a meeting Tuesday for both the 14th Congress of the Chinese Academy of Sciences and the Ninth Congress of the Chinese Academy of Engineering. Chinese Premier Wen Jiabao delivers a speech at the conference of the 14th Congress of the Chinese Academy of Sciences (CAS) and the 9th Congress of the Chinese Academy of Engineering (CAE) in Beijing, capital of China, June 24, 2008.    He highlighted the importance of science and technology for the reconstruction in quake-ravaged areas when he reported the latest situation of the relief work to the attending scientists.     Scientists and experts specializing in various of disciplines and fields of research should work closely and provide more scientific evidence and consultations to decision-making, Wen said.     He said after China experienced major disasters and incidents this year the social and economic development had been better than predicted due to Party and government endeavors. Chinese Premier Wen Jiabao (L) poses for a photo with his teacher Yang Zunyi, academician from the Chinese Academy of Sciences, after the conference of the 14th Congress of the Chinese Academy of Sciences (CAS) and the 9th Congress of the Chinese Academy of Engineering (CAE) in Beijing, capital of China, June 24, 2008.  However, he admitted there were still problems in the current economic situation that would challenge the economy's long-term, steady growth, adding the general level of the country's science and technology had not met the needs of the social and economic development.     Wen outlined science and technology research should make more achievements to reduce more energy consumption, safeguard agricultural production, prevent serious diseases and deal with climate change and disasters.     He hoped senior scientists and experts could cultivate and guide more young talents and provide more advice to the government's work.