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NEW YORK, Aug. 31 (Xinhua) -- Oil prices plummeted to below 70 U.S. dollars a barrel on Monday as investors were rattled by the sharp decline in China's equities market.     Light, sweet crude for October delivery lost 2.78 dollars, or 3.8 percent, to settle at 69.96 dollars a barrel on the New York Mercantile Exchange. The contract fell to the intraday low of 69.13 dollars a barrel. Global stock markets dropped broadly after China's Shanghai Composite Index dived almost 7 percent, spurring concerns about the pace of world economic recovery.     Oil prices have found support from optimism that a potential turnaround in the economy could boost flagging fuel consumption, which sent the futures up to a fresh ten-month high of 75 dollars a barrel. However, oil failed to break the 75-dollar psychological barrier and fell back to around 70 dollars a barrel as investors were worried that the market might have gotten too far ahead of the economy.     In London, Brent Crude for October delivery tumbled 3.52 dollars, or 4.8 percent, to 69.27 dollars a barrel on the ICE Futures exchange.

BEIJING, Aug. 6 (Xinhua) -- As typhoon Morakot gains momentum and churns toward China's mainland, provinces in coastal regions are busy bracing for its impact.     By 5 p.m. Thursday, the typhoon was located at 23.3 degrees north and 126.7 degrees east, about 780 kilometers away from Wenzhou, a major city in Zhejiang Province, meteorological authorities said. It was expected to land in the eastern Zhejiang or Fujian provinces between Saturday noon and Sunday morning. Soldiers help fishermen go to safe zone in the rain in Taizhou City, east China's Zhejiang Province, Aug. 6, 2009. It is predicted that the typhoon Morakot will land off the seashore in east China's Zhejiang Province and southeast China's Fujian Province from Saturday noon to Sunday morning.In Zhejiang province 2,076 ships had returned to harbor by 3 p.m. while passenger liner services in Wenzhou and Taizhou cities were suspended.     More than 900 Chinese and foreign tourists have been evacuated from from the resort Nanji Island, and measures taken in scenic areas near the coast to assist tourists.     Seventeen teams comprising 138 soldiers are preparing for emergencies, and working with local officials to ascertain potentially hazardous areas. In adjacent Fujian province, nearly 8.4 million short messages had been sent to mobile phone users by 5:30 p.m., warning them to prepare for the typhoon. Soldiers help fishermen transport cases of fish in Putian City of southeast China's Fujian Province, Aug. 6, 2009. Provincial flood control and drought relief headquarters ordered fishing boats and construction vessels to seek shelter in harbors before 6 p.m. Thursday.     As of 6 p.m., more than 1,200 vessels had returned to harbors and 5,242 people had been evacuated in Fujian's Ningde, Putian and Fuzhou. Sea waves as high as six meters battered fish farms.     Weather forecasters said the most severe typhoon this year would push sea waves in the coastal areas to up to nine meters high when it approaches. Fishing vessels are seen in the Shenjiamen Port to avoid typhoon in Zhoushan City, east China's Zhejiang Province, Aug. 6, 2009Local authorities have warned the public to pay attention to weather forecasts and be aware of the rainstorms and other typhoon-related disasters.     More than 180 policemen are on duty in Quanzhou city, helping those in danger areas to evacuate.     Morakot, which strengthened into typhoon Wednesday afternoon, is also expected to whip up gales in Shanghai from Saturday to Monday. Meteorological stations in the city have cautioned relevant departments to brace for emergencies. Soldiers help fishermen strengthen rafts in Wenzhou City, east China's Zhejiang Province, Aug. 6, 2009.Experts in Guangdong Province say although the typhoon won't land there its impact could be great. Bilis, a 2006 typhoon landed in Fujian but tens of thousands of people in Guangdong were affected.     The experts considered Morakot might have a big influence in the eastern part of Guangdong, and soak the province in torrential rains.     The eighth tropical storm this year, Morakot was formed on the heels of Goni, which unleashed downpours in Guangdong destroying 732 houses.     "The two storms could influence each other," said Wang Zhenming, vice head of the Zhejiang provincial meteorological station. "As a result, the route of Morakot is not fully predictable."     He warned Morakot was likely to continue growing in strength and become a super typhoon.     China is frequently affected by tropical storms in summer. The most destructive one recently occurred in 2006, when super typhoon Saomai claimed more than 400 lives.

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BEIJING, Aug. 1 (Xinhua) -- Several hundred former generals, famous military artists, and soldiers gathered at the foot of the Great Wall Saturday to celebrate the 82nd anniversary of the founding of the Chinese People's Liberation Army (PLA), which falls on August 1.     At the ceremony organized by the China Great Wall Society (CGWS), veterans recited a poem telling their love and wishes for the country and the people.     Lieutenant General Shao Huaze, vice chairman of the CGWS, said the peom was written based on the wishes collected from the veterans.     The CGWS also held an exhibition of more than 500 calligraphy and painting works by former generals.

BEIJING, Aug. 4 (Xinhua) -- Salary increases for executives of state-owned enterprises (SOE) should be in line with those for employees, Hu Xiaoyi, China's Vice Minister of Human Resources and Social Security, said Tuesday.     Hu said that the government was formulating a document to regulate more effectively SOE executives' salary plans, and the document would be released in the near future.     "The disparity between executives' and employees' salary rises should not be alarmingly large," Hu said, noting long-term incentives as well short-term incentives should be used for SOE executives.     The State-owned Assets Supervision and Administration Commission is responsible for the regulation of 136 centrally-administered SOEs.

TEL AVIV, Israel, Sept. 24 (Xinhua) -- Israeli President Shimon Peres Thursday lauded the great achievements made by China over the past 60 years when attending a reception held by Chinese Embassy in Israel to celebrate the 60th anniversary of the founding of the People's Republic of China.     At the reception held at the residence of Chinese Ambassador to Israel Zhao Jun, Peres stressed that China currently plays an important role in the world.     He said that due to the great achievements made by China over the past 60 years, Chinese people are now becoming more affluent and confident, noting that "Israel loves China."     Highlighted the important role China is playing in the world, Peres said that "a peaceful China is a peaceful world."     Before Peres' speech, Zhao said that the reception was also held to celebrate the 17th anniversary of the establishment of diplomatic relations between China and Israel.     China has made remarkable achievements over the years, said the Chinese ambassador, adding that despite the progress, China remains a developing country and will continue its development.     He added that the relationship between China and Israel is continuing to develop in many fields, while China is now Israel's biggest trading partner in Asia.     Zhao also mentioned the "Experience China in Israel" event, which will be held in October in Israel in a bid to show the development of China in many domains: education, economy, technology and especially the Chinese contemporary culture.

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BEIJING, Aug. 27 (Xinhua) -- China's top legislature concluded its four-day, bimonthly session Thursday, after approving the country's first armed police law and climate change resolution.     Top legislator Wu Bangguo told the closing meeting of the 10th session of the Standing Committee of the 11th National People's Congress (NPC) that the new armed police law clarified the nature, command mechanism, responsibilities, duties and rights of the paramilitary force. "It offers solid legal backing for the armed police to complete the country's security tasks, maintain social stability and safeguard the legitimate rights and interests of citizens and organizations," Wu said.     Climate change has been an issue of concern among lawmakers.     Wu said the newly-approved resolution was an "important achievement" and a significant measure taken by the top legislature to deal with the global challenge.     Wu, chairman of the NPC Standing Committee, said the resolution praised the government's work on climate change, emphasized the importance of the issue, clarified guidelines, basic policies, measures as well as China's stance.     He said lawmakers proposed many suggestions on a climate change report, presented by the State Council (Cabinet), and a draft of the resolution.     Lawmakers agreed climate change was a challenge faced by all humankind and needed international cooperation.     Wu said China "as a responsible nation" had been focusing on the issue, set energy efficiency and environmental protection as basic state policies and achieving sustainable development as national strategies.     He said the country had made laws and regulations to climate change and set energy saving and emissions reductions as binding targets in the state's medium and long-term development plan. The 10th session of the Standing Committee of the 11th National People's Congress (NPC) is held in Beijing, China, Aug. 27, 2009. The 10th session was closed on Thursday in Beijing. The country had "actively participated international cooperation on climate change and made contributions in mitigating and adapting to climate change."     He said the NPC Standing Committee "actively" made and improved laws related to the issue, listened to work reports regularly and conducted law enforcement inspections on resources and environment, which offered great support to the work of the government.     The top legislature also agreed Thursday a legislation overhaul with the updating and revision of 141 provisions in 59 different laws.     Wu said the collective updating and revision of laws was an important step to ensure a legal system with Chinese features would become "more scientific, unified and harmonious" and form a complete socialist legal system by 2010.     "The law revisions at this session solve the problem that some laws and regulations are incompatible with the economic and social development," he said.     This was the second legislation overhaul after the NPC Standing Committee in June agreed to abolish eight outdated and redundant laws, including one covering police stations that dated back to 1954.     Wu said the next step was to revise laws quickly, and asked government departments to enact regulations to help implement the laws, and streamline local regulations.     He said one of the focuses of the NPC's supervision work was to oversee the economy. One of the roles of NPC Standing Committee was supervision of the government.     He said due to the complicated domestic and overseas economic situation, the NPC took supervision of the implementation of the government's important decisions as top priority.     Each legislative session since April had deliberated work reports of some government departments, he said.     The NPC Standing Committee also investigated topics such as affordable housing construction at the suggestion of lawmakers. It would also supervise the implementation of the central government's public investment plan valued at 908 billion yuan (133.5 billion U.S. dollars) this year, part of the 4-trillion-yuan stimulus plan initiated late last year.     Wu said the investigation report on low-rent housing would be submitted to a legislative session in October.     "Such work plays an important role in promoting the implementation of central government decisions and stable and relatively fast economic development."     Wu said this session listened to a routine report on the implementation of the government's plan of economic and social development, as well as a report on economic restructuring and transforming the development model.     Lawmakers agreed that although the economy suffered a big drop during the fourth quarter last year, the 7.1-percent GDP growth in the first half of this year showed sound momentum, "which was not easy and a result of the efforts of the whole country."     Wu said it showed that the central government's decision of dealing with the impact of the global economic downturn was "completely correct" and the measures taken were "timely and effective."     Legislators said efforts should be made to ensure this year's economic and social development goals could be achieved.     The top legislature also accepted Thursday the resignation of Cui Mingjie, an entrepreneur of central Henan Province, from his post as NPC deputy, for alleged involvement in "serious economic crimes."     It also approved the expulsion of two NPC deputies -- Xu Zongheng, former mayor of south China's Shenzhen City, and Liu Youjun, director of the Guangdong provincial department of labor and social security -- for "serious violations of discipline."     According to the Credentials Committee of the NPC Standing Committee, the total number of deputies to the 11th NPC stands at 2,979.

BEIJING, Aug. 8 (Xinhua) -- China will continue to strengthen international judicial cooperation with other countries, including the United States, a spokesperson for China's Ministry of Justice said.     The unnamed spokesperson made the statement while commenting on the case of two former Bank of China (BOC) managers in southern Guangdong Province, who were convicted in a U.S. court last year of embezzlement and money laundering, the Legal Daily reported Friday.     "China welcomed the verdict by the U.S. court," which sentenced Xu Chaofan and Xu Guojun, two former managers of the BOC Guangdong Kaiping Branch, and their wives, to prison terms of eight to 25 years, the spokesperson said.     Xu Chaofan was sentenced to 25 years in jail and Xu Guojun to 22 years. Their wives were each sentenced to eight years in prison. All four were further sentenced to three years of supervised release and ordered to pay 482 million U.S. dollars in restitution.     The four were found guilty of a racketeering conspiracy that began in 1991 and continued until October 2004.     Prosecutors said the defendants laundered stolen money through Hong Kong, Canada and the U.S., including 3 million U.S. dollars deposited at several Las Vegas casinos.     The case was one of the biggest of its kind since the founding of New China in 1949.     It has, however, reinforced the positive development of Sino-U.S. judicial cooperation and provided experience in dealing with organized economic crime.     "Fleeing suspects are doomed to be punished by law," said the spokesperson.     International judicial cooperation, an effective way of fighting crime, would contribute to the crackdown on trans-national crimes, he said.     Professor Huang Feng of the Beijing Normal University's Criminal Law Research Institute said Xu's sentencing in the U.S. provided "an alternative to extradition" as the two countries had not signed an extradition treaty.     Fleeing suspects could still be convicted abroad, though they currently could not be repatriated, Huang said.     Foreign Ministry spokesman Ma Zhaoxu said in May the two guilty couples should be repatriated or extradited to China as soon as possible.

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BEIJING, Sept. 26 (Xinhua) -- The Chinese foreign minister on Saturday described President Hu Jintao's trip to the United States to attend four important summits as a significant and far-reaching diplomatic move.     Foreign Minister Yang Jiechi made the remarks while briefing journalists who traveled to New York and Pittsburgh with Hu. Yang said that the four summits in the U.S. that Hu participated in focused on such attention-grabbing issues as the international financial crisis, climate change, non-proliferation and nuclear disarmament.     Those issues have a significant bearing on international relations and on the global situation in the future, Yang said. He said those issues also have a direct bearing on China's long-term development and fundamental interests.     Participating in four summits in as many days was an unprecedented diplomatic move by a Chinese president since the founding of the People's Republic of China in 1949, Yang said. Chinese President Hu Jintao attends the Group of 20 (G20) Financial Summit in Pittsburgh of the U.S., Sept. 25, 2009    He said Hu systematically advanced China's viewpoints and stances on important global and regional issues during the four summits.     Yang highlighted the 64th United Nations General Assembly, which drew more than 140 heads of state and government, and the world body's general debate during which Hu delivered his key-note speech "Join hands to create the future."     The foreign minister quoted Hu as saying that the world is undergoing a hectic period of big development and reform and that it is seeing a stronger trend toward peace, development and cooperation.     Hu pointed out during his U.N. speech that the world's peace and development is faced with serious challenges resulting from instability and uncertainty in the global situation.     The Chinese president urged the international community to cherish the concepts of peace, development, cooperation, win-win and tolerance in their effort to promote a lasting peace, co-prosperity and a harmonious world.     Yang said Hu proposed that the international community view the security issue through a broader view-finder, conduct cooperation with more open hearts, and materialize harmonious co-existence via a more tolerant mentality.     Hu stressed in his speech that China's destiny is increasingly linked with that of the entire world. He said that China will stick to its path of peaceful development, one that leads to mutual benefits and a win-win scenario. He said China also will stick to the five principles of peaceful co-existence while pursuing friendly cooperation with all of the other countries in the world.     China was, is and will remain a strength to be reckoned with in the maintenance of world peace and in the promotion of co-development of the world.     As a responsible big country in the midst of development, China has performed its obligation to the U.N. Millennium Declaration by extending assistance to more than 120 countries. It also has written off debts owed it by 49 heavily indebted countries and least developed countries, and is offering zero-tariff treatment to exports from 40 least developed countries.     China also will beef up its support for the developing countries that have been affected most by the international financial crisis.     Hu said that China will continue its support to the developing nations by speeding up their growth to meet their millennium goals; China will continue to give the assistance promised to African countries during the Sino-Africa Summit; and China will continue to participate and promote the regional monetary and financial cooperation.     Yang, who accompanied Hu to New York and Pittsburgh, said that the world sees the Chinese president's speech at the U.N. as commanding a strategic viewpoint and carrying a far-reaching connotation.     Hu's speech demonstrated that China is playing an irreplaceable role in international and regional affairs as a builder of international systems, Yang said. He said that the international community welcomes China to play an even larger role on the international stage.     At the U.N. non-proliferation and disarmament summit, Hu advanced his statement on the new security concept that China advocates.     It was the first time in the past decade that a Chinese leader elaborated on China's policy toward nuclear issues in person at a multilateral occasion.     Yang quoted Hu as saying that China has always advocated a total ban and total destruction of nuclear weapons. Hu said China will stick to its self-defense nuclear strategy and to its promise not to be the first to ever resort to nuclear weapons under any circumstance.     China has also obliged itself to not threaten nuclear-free countries and regions with the use of nuclear weapons.     Hu told the non-proliferation and disarmament summit that China will continue to promote the process of international nuclear disarmament and to contribute efforts toward the system safeguarding the implementation of the non-proliferation treaty.     This approach, Hu said, has fully demonstrated China's fairness, responsibility and contribution toward the construction of a nuclear-free world, which reflected the legitimate claim by the developing countries, safeguarded the interests of the developing countries and helped to move the non-proliferation and disarmament talks to a more positive direction of development.     Yang described the G-20 summit as an effective platform on which the international community can cooperate in its joint dealings with the ongoing international financial and economic crises to better governance of the global economy.     Hu has participated in all three of the G-20 summits centered on the financial crisis. In Pittsburgh, Hu made it clear that though the world has seen positive economic signs, there is a long way to go before full recovery is achieved because there are many uncertainties remaining.     The Chinese president listed three tasks the international community must deal with without hesitation in face of their efforts to end the recession.     The tasks, Yang re-capped, are to keep stimulating economic growth, to promote reform of the international financial system, and to strike a balanced development of the world economy.     Hu said in Pittsburgh that all of the concerned countries should keep their stimulus plans in place and make more efforts in promoting consumption and domestic demand. He warned that those countries should also keep an eye on any potential side-effects of their efforts, especially concerning inflation.     The developing countries, Hu said, should be given more representation and say in the world's international financial institutions. He said that all of the countries concerned also should make efforts to forge an international mechanism for balanced development of the world economy.     Cooperation in technology should be given high priority so as to help bridge the gap between the developed and developing countries, Hu suggested.     Hu cited China as an obvious example of the packaged stimulus plan in face of the ongoing financial and economic crises. He said that his country would continue to carry out its promised and planned assistance to developing countries, especially those in Africa, and would try within its capacity to increase such assistance.     Hu's viewpoints and proposed measures on international cooperation on financial system won praise from many heads of state and government in Pittsburgh, Yang said.     The foreign minister said that the president based his proposals on safeguarding the fundamental interests of the people in China and around the world and therefore his viewpoints and measures got nods of approval from many of the leaders at the G-20summit.     As the U.N. climate change conference in Copenhagen approaches, Yang said the issue of climate change is attracting greater public attention.     Because China is the largest developing country and an emerging economy, its stand on the issue is closely watched by the international community, Yang said.     "Global climate change has a profound impact on the existence and development of mankind and is a major challenge facing all countries," Hu stressed.     During his speech at the U.N. climate change summit, Hu put forward a four-point proposal on joint efforts to deal with climate change by the international community.     Fulfilling respective responsibilities should be at the core of the effort, Hu said.     Concerned parties should positively implement the "Bali Roadmap" talks according to the requests of the United Nations Convention on Climate Change and the Kyoto protocol, Hu said.     Achieving mutual benefits and a win-win outcome should be the goal of the effort, Hu said.     Supporting developing countries in countering climate change is a responsibility of developed countries and also benefits their long-term interests, Hu said.     "We should realize a win-win outcome for both developed and developing countries, and interests of each state and the whole mankind," he said.     Promoting common development should be the basis of the effort, the president said.     "Without common development, particularly the development of developing countries, there cannot be a broad and solid basis in the long run for tackling climate change," he said.     Ensuring financing and technology holds the key to the success of the effort, Hu noted.     He urged the developed countries to take up their responsibilities and provide developing nations with new financial support to facilitate their dealings with climate change.     Although China faces a lot of difficulties in the course of development, it attaches great importance to climate change and has taken a series of measures to address the issue, Hu said.     The Chinese leader pledged that his country will further integrate actions on climate change into its economic and social development plan.     China will intensify efforts to conserve energy and improve energy efficiency, vigorously develop renewable and nuclear energy and step up efforts to develop a green economy, he said.     As a responsible country, Hu said, China will make the Copenhagen conference achieve positive results.     Hu emphasized the principle of common but differentiated responsibilities, and said that China firmly safeguards the interests of developing countries.     Hu announced significant measures China will adopt on emission reduction, which have been lauded by the international community, Yang said.     Many foreign leaders said Hu's speech hit the high points of current climate change talks, reflected the common aspirations of the developing countries, and showed the image of a responsible and large country, the foreign minister said.     After meeting with dozens of foreign leaders on the sidelines of the U.N. meetings and the G-20 financial summit, Hu reached consensus with them on bilateral relations and joint efforts to deal with the financial crisis, Yang said.     During talks with U.S. President Barack Obama, Hu pointed out that China and the United States should maintain frequent high-level exchanges and implement their pledges made at the first China-U.S. Strategic and Economic Dialogue in Washington in July.     They also should deepen cooperation on major international and regional issues, expand exchanges on humanity, properly address each other's interests and concerns, and firmly oppose protectionism, Hu said.     When meeting with Russian President Dmitry Medvedev, Hu said China attaches great importance to enhancing its strategic partnership of cooperation with Russia. He said China is working to implement the consensus reached between the two sides. Both leaders agreed to further expand exchanges in various fields and deepen the Sino-Russian strategic partnership of cooperation.     Yang said Hu's meeting with Japanese Prime Minister Yukio Hatoyama was the first between the two leaders since Hatoyama was elected prime minister on Sept. 16.     During their talks, Hu said the two sides should enhance high-level exchanges so as to improve political trust, promote trade and economic cooperation, and improve the feelings of their people toward each other in order to consolidate the basis of good public opinion.     Hu said that Japan's war-time history and Taiwan are two major issues concerning the political basis of Sino-Japanese relations. China hopes Japan can live up to its commitment and properly handle the two issues.     When meeting with his French counterpart Nicolas Sarkozy, Hu said China is ready to work with France to review the historical experience of bilateral relations, and promote a healthy and steady development of the comprehensive strategic partnership between the two nations.     Hu also met with South African President Jacob Zuma, South Korean President Lee Myung-bak, President Gurbanguly Berdymukhamedov of Turkmenistan and President Evo Morales of Bolivia on bilateral ties and major issues of common concern.     Yang said China has maintained friendly cooperation with nations in the world, and has forged partnership with many. Frequent high-level exchanges are an important way to boost bilateral ties with other countries.     Yang summed up Hu's attendance at the four summits as a complete success.     China will earnestly implement the consensus reached by Hu at the U.N. summits and expand cooperation with other nations to jointly meet the global challenges so as to contribute to the world's peace, stability and development, he said. 

BEIJING, Sept. 26 (Xinhua) -- Local governments should lay stress on economy restructuring and innovation to guarantee the long-term stable and relatively fast economic growth, said Li Keqiang, Chinese Vice Premier.     Li made the remarks in his recent inspection and research trip to central China's Jiangxi Province from Sept. 24 to 26. Chinese Vice Premier Li Keqiang (L) talks with a farmer in Taihe County, east China's Jiangxi Province, Sept. 24, 2009. Li made a inspection and research tour to east China's Jiangxi Province from Sept. 24 to 26"The world economy is undergoing profound changes and transition. We should base ourselves on the current realities and be more forward-looking and broad-minded," He said.     Li added that China should push forward the deepening of reforms and strategic economy restructuring while maintaining the relatively fast economic growth.     China's economy expanded by 7.9 percent from a year ago in the second quarter this year, faster than the 6.1 percent in the first quarter, which was the worst quarterly growth in a decade, dampened by a slump in exports.     Li urged provinces in the central region to give a full play to their growth potential and advantages, take on the development opportunities of strategic importance, improve the quality of economic growth and achieve remarkable economic progress through reforms, innovation and industrial upgrading.     Central China provinces should endeavor to achieve remarkable economic advancement by 2015, according to a plan passed Wednesday by the State Council, the Cabinet.     The central areas include Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan provinces. Chinese Vice Premier Li Keqiang (C) talks with revolutionary veterans, their descendants, and local work models in Jinggangshan City, east China's Jiangxi Province, Sept. 24, 2009