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BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday.     The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs.     The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances.     The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC.     Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board.     Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.

BEIJING, July 18 (Xinhua) -- East Star Airlines Co., Ltd. said Saturday here that its current combined debt surpassed 752 million yuan (110.1 million U.S. dollars).     Zhao Changbing, spokesperson of the company, said the announcement was made to counter rumors about the status quo of the company's assets and debt     Zhao said total assets of the company stood at 1.01 billion yuan.     Established in 2005 in central Hubei Province, East Star Airlines operated more than 20 routes. Its operation was suspended by the industry regulator as of March 15 this year, due to financial difficulties of the carrier.

BEIJING, June 30 (Xinhua) -- Taiwan authority opened up the island to Chinese mainland investment Tuesday with 100 categories of manufacturing, service and infrastructure sectors in the initial opening-up list.     The move marks a historic breakthrough of decades-long hopes for two-way investments across the Taiwan Straits.     Under two new regulations in effect Tuesday, mainland individuals, companies and institutions can set up branch offices, wholly-owned or joint-venture companies on the island.     They have to get approval from Taiwan economic affairs authority in advance, according to the regulations.     Investment from firms based outside the Chinese mainland, in which mainland ownership is more than 30 percent, will also be regarded as mainland investment in Taiwan, the regulations said.     In the initial phase, the Taiwan authority allows mainland investment in 64 categories in manufacturing sector, 25 categories in service sector, and 11 categories in infrastructure sector on the island.     Mainland investment would "help Taiwan's economy prosper" and make international investors more confident in Taiwan market, said John Chen-Chung Deng, deputy head of Taiwan's economic affairs authority, at Tuesday's press conference.     The investment would help increase industry capital in Taiwan and make its financial market more vigorous, he said.     Through two-way cross-Straits investments, the two sides could jointly explore mainland and international markets, he told the press conference.     The formalization of cross-Straits investment is a long-term objective, he said. The opening-up will advance in a "gradual" way and "will be expanded as long as the initial investment bears fruits."     The Taiwan authority planned to send a team to the mainland to attract investment in the second half of this year, he said. Taiwan welcomes mainland companies to conduct investigations for investment on the island.     For the convenience of mainland investors in Taiwan, the relevant authority in Taiwan has also set down regulations on issues including medical service, education, financial need and house purchasing for both the investors and their family, according to the official.     BREAKTHROUGH IN TWO-WAY INVESTMENT     Experts said the move marks the end of the one-way flow of capital from Taiwan to the mainland, and is a basic indicator of the normalization of economic and trade ties between the two sides.     Zhang Yansheng, director of the Institute of Foreign Trade under the National Development and Reform Commission (NDRC), said the influx of mainland capital would greatly boost Taiwan's gross production value, tax income and employment.     The investment would not only benefit Taiwan companies harshly hit by the international financial turmoil, but also enhance competitiveness of mainland companies, he said.     Liu Xiaohong, deputy general manager of Quanjude (Group) Co. Ltd., a Beijing-based company that specializes in the famous Peking roast duck, said the newly announced regulations have cleared major obstacles and will accelerate the company's pace to open outlets in Taiwan.     Direct transport, postal service and trade was totally cut off between the two sides since the Chinese civil war ended in 1949.     On Jan. 1, 1979, the Standing Committee of the National People's Congress, or the top legislature, called for an early realization of the three direct cross-Straits links on transport, mail and trade in its "Message to Compatriots in Taiwan". After 1979, the mainland allowed Taiwan products to enter at lower tax rates or tax-exemption.     In July 1988, the State Council, or the Cabinet, issued regulations encouraging Taiwan compatriots to invest on the mainland.     The mainland has been the largest trade partner of Taiwan since 2003, with annual trading volume surpassing 100 billion U.S. dollars.     Tuesday's announcement came about two months after the mainland and Taiwan reached a historic consensus on allowing mainland companies to invest in Taiwan during talks between the two sides top negotiators on cross-Straits relations.

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BEIJING, May 25 (Xinhua) -- Chinese President Hu Jintao held talks with his Sierra Leone counterpart Ernest Bai Koroma here Monday, both agreeing to push the bilateral friendly and cooperative ties to a new height.     Hu gave Koroma a red-carpet welcome, including a 21-gun salute and parade, at the Great Hall of the People. He started their talks by congratulating the Sierra Leone and African people on the 46th anniversary of Africa Day, a festival to celebrate the founding of the Organization of African Unity, which was succeeded by the African Union in 2002. Chinese President Hu Jintao (L) holds a welcoming ceremony for his Sierra Leone counterpart Ernest Bai Koroma in Beijing, capital of China, May 25, 2009Hailing the traditional friendly exchanges between the two peoples and ruling parties, Hu said "the Chinese people would never forget the two countries' forging diplomatic ties in the 1970s, nor would they forget the precious support Sierra Leone offered for the restoration of China's legitimate seat in the United Nations."     He expected Koroma's current trip to further step up traditional friendship and facilitate cooperation.     Koroma said his country was grateful to the selfless assistance China offered over the years, adding the one-China policy is a cornerstone of Sierra Leone's China policy.     Taiwan and Tibet, both historically and geographically, are inalienable parts of the People's Republic of China, he added.     Calling the two countries "good friends and partners", Hu said the China-Sierra Leone traditional friendship remains unchanged despite the turbulence of international situations.     Hu said President Koroma highly treasures bilateral ties and firmly sticks to the one-China policy. Bilateral relations have shown a sound momentum of accelerated growth since President Koroma took his office.     The two heads of state agreed to explore cooperation in the areas of infrastructure construction and resource exploitation.     To boost bilateral ties, Hu proposed to keep close contacts among the two countries' leaders, maintain friendly exchanges between lawmaking organs and ruling parties, and make joint efforts to facilitate bilateral education, public health and human resources programs.     He told Koroma China values its trade ties with Sierra Leon, and is committed to helping speed up the country's economic reconstruction.     Hu welcomed more Sierra Leone young people to study in China, pledging to foster more professionals for the country.     China had offered scholarship to altogether 311 Sierra Leone students since 1976.     Hu also vowed to promote the accomplishment of existing bilateral projects as scheduled, offer aid to Sierra Leone's education, culture, public health programs, and enhance coordination with it on major issues including peacekeeping, poverty reduction and fighting against global challenges.     Koroma said his country welcomed increased investment from China to aid his country's economy, vowing to create sound environment and conditions.     "Sierra Leone highly values relations with China, and is ready to cement all-round cooperation with the country and learn from its development experience," he said.     Koroma called on enhanced bilateral cooperation on international and regional issues, in particular African issues, to further push forward Sierra Leone-China and Africa-China ties.     The two presidents attended a signing ceremony for three cooperative agreements including one on China's providing anti-malaria medicines to Sierra Leone.     The West African country, once British colony, gained independence in 1961 and founded the Republic of Sierra Leone. With a population of over 6.1 million and an area of some 71,740 square kilometers, the country is the lowest ranked country on the Human Development Index and seventh lowest on the Human Poverty Index, following years of civil wars.     China forged diplomatic ties with Sierra Leone on July 29, 1971. Between that date and this March, China had invested 33.9 million U.S. dollars in the country and helped build more than 30 projects including hydropower stations, a national stadium, hospitals and government buildings.     Sierra Leone rolled out its first CDMA network in the country last month with help from Chinese equipment vendor Huawei Technologies. Sierratel, the country's government-owned telecommunication company, received a delivery of 16.6 million U.S. dollars worth of wireless telecommunication equipment from Huawei, funded by the Chinese government's preferential loan.     Chinese ambassador to Sierra Leone Qiu Shaofang said China would build two hydropower dams in Sierra Leone in the next three years.     "China has offered long-term economic aid to Sierra Leone and has promised not to reduce assistance in spite of the global slump," said Qiu.     Bilateral trade topped 83.71 million U.S. dollars last year, up 30.4 percent year on year. With the global downturn, total bilateral trade in the first four months of the year was down 40 percent to 12 million U.S. dollars.     China mainly exports machinery and electrical products, textiles and chemical products to Sierra Leone, while imports logs, natural rubber and coco beans.     Koroma's ongoing China trip will also take him to central China's Hunan Province and the country's financial hub Shanghai.

BEIJING, May 23 (Xinhua) -- China is strongly committed to a world without nuclear weapons, Gareth Evans, co-chair of the International Commission on Nuclear Non-proliferation and Disarmament (ICNND), told a press conference on the sidelines of the North-east Asia Regional Meeting of the ICNND here Saturday.     The regional meeting, which was held Friday and Saturday, allowed the ICNND to engage in intensive action with key nuclear experts providing insights on global and regional nuclear issues and challenges, including proliferation threats and the safe and secure management of the peaceful uses of nuclear energy.     Evans said, "There is a need to energize a very high-level global political debate on what remains very important risks and threats for the future of this world."     According to Evans, threats come from the existing nuclear weapons, new countries acquiring such weapons in the future, nuclear weapons and material falling into the hands of terrorists and non-state actors who have the intention and capability of causing catastrophic damage. Moreover, the multiplication of new power plants around could also create problems.     Evans said, besides some large countries, there has to be very strong engagement by all the other significant players and countries in the international community.     In terms of the non-proliferation of nuclear weapons, the issue involving the Democratic People's Republic of Korea (DPRK) occupied a lot of time in the discussions.     This is a very important regional security issue relating to disarmament and non-proliferation, said Yoriko Kawaguchi, the other co-chair of the ICNND, adding that China has played an important role as an intermediator.     "The DPRK should abide by the United Nations' resolutions," she said.     Evans said that it is essential to keep the door open for dialogue and continue to explore the probability for resolving this thing peacefully.     Yoriko Kawaguchi echoed Evans by saying that there was a consensus on the importance of the object of the six-party talks on the denuclearization of the Korean Peninsular.     Evans stressed that it is important for all nuclear weapon states under the Treaty on the Non-proliferation of Nuclear Weapons (NPT) to agree on a strong statement going into the NPT review conference about their commitment to a nuclear weapon-free world and the determination to take serious steps toward that goal.     A review conference has been held every five years since the 1968 NPT came into force in 1970. It has been ratified by nearly all the members of the United Nations. The exceptions are India, Israel, and Pakistan which neither signed nor ratified the accord and have developed nuclear weapons. The DPRK ratified it but withdrew in 2003.     The ICNND is an independent global initiative established in 2008, supported by the governments of Australia and Japan. It is designed to re-energize the debate about the need for a nuclear weapons-free world and all the interrelated issues of nuclear disarmament, non-proliferation and the future of civil nuclear energy in the run up to the 2010 NPT Review Conference.

TAIPEI, May 31 (Xinhua) -- A Chinese mainland business delegation arrived in Taiwan Sunday to kick off a buying spree to expand trade ties and offset the effects of the global economic downturn.     The group, organized by the Mainland Association for Cross-Strait Economic and Trade Exchanges, comprised about 80 representatives of 35 companies, including IT and home appliance giants Lenovo, Haier, Changhong and ZTE.     The shopping list could include home appliances, machinery, textiles and foodstuffs manufactured on the island, said Li Shuilin, director of the association and delegation head.     The mainland businesses would hold talks with Taiwan firms in Taipei and Kaohsiung to learn more about their products and market potential in the mainland, Li said.     They would probably make some purchasing orders, although no exact plans had been announced, he added.     The delegation, the first of its kind, was warmly received on the island amid the mainland's repeated calls for collaboration across the Taiwan Strait to cope with the international economic downturn.     This marked a substantial step by the mainland to help boost investment in Taiwan and the purchase of Taiwan products, proposed by Chinese Premier Wen Jiabao in April, Li said.     The mainland announced last week that seven to nine procurement delegations to Taiwan would be organized from May to September to help develop the island economy during the global downturn.     The China Video Industry Association would organize a visit of leading mainland television producers on Monday to hammer out a planned 2.2-billion-U.S.-dollar contract for TV parts produced in Taiwan.     Also in June, tea merchants and fruit organizations would visit central and south Taiwan. In September, representatives of trading cooperatives from 11 provinces and cities, six industry associations and 13 agricultural products producers will visit the island.     Mainland telecommunications companies, including China Telecom, China Mobile and China Unicom, also plan purchasing visits the island.

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BEIJING, June 14 (Xinhua) -- Chinese President Hu Jintao left Beijing Sunday for the annual summit of the Shanghai Cooperation Organization (SCO) and the first meeting of BRIC (Brazil, Russia, India and China) leaders in Russia's Ural city of Yekaterinburg.     He will then pay a state visit Russia followed by state visits to Slovakia and Croatia from June 18 to June 20.     Hu's visits to the three nations are at the invitation of Russian President Dmitry Medvedev, Slovak President Ivan Gasparovic and Croatian President Stjepan Mesic.     Hu's delegation includes Ling Jihua, member of the Secretariat of the Communist Party of China (CPC) Central Committee and director of General Office of the CPC Central Committee; Wang Huning, member of the Secretariat of the CPC Central Committee and director of Policy Research Office of the CPC Central Committee; State Councilor Dai Bingguo; Foreign Minister Yang Jiechi; minister of the National Development and Reform Commission Zhang Ping; Minister of Commerce Chen Deming; Minister of Culture Cai Wu; Vice Foreign Minister Li Hui; Vice Foreign Minister He Yafei and Director of the President's Office Chen Shiju.

URUMQI, July 11 (Xinhua) -- The Xinjiang branch of China Charity Federation said Saturday it had received 2.03 million yuan (297,218 U.S. dollars) in donation from all walks of life for victims in the Urumqi riot.     The single largest donation is 200,000 yuan from the Xinjiang company of China Pacific Life Insurance Co., Ltd., said the federation.     Wu Jie, an employee of the insurance company, said she would like to do something for the dead and injured people. "We need to comfort the families of the dead and help the people who need medical treatment."     Maolaxifu Rishat, a businessman of the Tartar ethnic group who was the first to propose a comfort fund for riot victims, donated 5,200 yuan on behalf of 14 donators from 14 different ethnic groups.     "We pray for national unity in Xinjiang, so that we can have a peaceful and harmonious environment," he said.     Urumqi Public Transport Group, which suffered 37.6 million yuan as hundreds of its buses were torched or smashed, received 3.38 million yuan in donation from enterprises in the city. Five bus drivers of the group were killed by mobs and 57 others injured.     The riot in Xinjiang on July 5, the worst in six decades, caused a severe shortage of blood at local hospitals where more than 1,000 injured people were rushed in.     Shortly after the shortage was reported, many citizens rolled up their sleeves to donate blood.     On Friday, Urumqi's blood center announced the shortage had been eased, but donors continued to pour in.     A total of 1,315 people from 13 ethnic groups had come to the blood collection stations to donate 400,000 milliliters of blood as of 10 p.m. Friday. More than 1,000 other people have made appointments with blood collection centers to donate blood in the coming days.

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BEIJING, June 2 (Xinhua) -- The China Investment Corporation (CIC), the country's sovereign wealth fund, announced Tuesday that it decided to buy 1.2 billion U.S. dollar common stocks in Morgan Stanley's 2.2-billion-U.S.-dollar common stock offering.     Morgan Stanley announced Tuesday it had priced a public offering of common equity of 2.2 billion U.S. dollars. The proceeds are intended to fully redeem the preferred capital of the Troubled Asset Relief Program (TARP) before the end of June.     The TARP is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the U.S. government's measures in 2008 to address the subprime mortgage crisis.     Morgan Stanley notified the CIC of the offering in light of its healthy business relationship with CIC and the preemptive rights CIC holds. CIC plans to participate in this offering, according toa notice on its Web site.     CIC was optimistic in Morgan Stanley's future development as "Morgan Stanley is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry".     On December 19, 2007, CIC purchased 5.6 billion U.S. dollars mandatory convertible securities into Morgan Stanley common stock, representing approximately 9.86 percent equity ownership in Morgan Stanley.     However, after Mitsubishi UFJ Financial Group, Inc.'s investment in Morgan Stanley in October 2008, CIC's equity ownership was diluted to approximately 7.68 percent.     This new purchase would bring CIC's equity ownership in Morgan Stanley back to approximately 9.86 percent, effectively reducing CIC's overall cost basis and increasing the returns potential, said CIC.     According to a statement posted on Morgan Stanley Web site Tuesday, it has priced a public offering of approximately 80.2 million shares of common stock to the public at 27.44 dollars per share.     CIC has agreed to purchase 44.7 million shares of common stock at the public offering price while the Mitsubishi UFJ Financial Group, Inc. has agreed to buy 16 million shares, the Morgan Stanley statement said.

PRAGUE, May 20 (Xinhua) -- Chinese Premier Wen Jiabao called for closer relations between China and the Czech Republic at meetings with Czech leaders on Wednesday.     The Chinese government attaches great importance to its relationship with the Czech Republic and would like to push the ties to a new stage, Wen said in talks with Czech President Vaclav Klaus. Chinese Premier Wen Jiabao (L) meets with Czech President Vaclav Klaus in Prague, capital of Czech Republic, May 20, 2009Wen said the Czech Republic, together with other Central and Eastern European countries, is among the earliest nations that established diplomatic relations with China, and their bilateral relations have enjoyed a sound foundation.     This year marks the 60th anniversary of the establishment of diplomatic relations between China and the Czech Republic.     Wen said that in the past 60 years, friendship and cooperation have always been the main tone of bilateral ties despite profound changes in both countries and in the world at large.     He said that in recent years, China and the Czech Republic have maintained high-level contacts, with bilateral economic and trade cooperation deepened and social and cultural exchanges expanded.     Wen said China attaches great importance to its relations with the Czech Republic and is willing to take the 60th anniversary as an opportunity to enhance mutual political trust, expand trade and mutual investment, strengthen cooperation in science and environmental protection, promote non-governmental exchanges, and better coordinate in international affairs. Chinese Premier Wen Jiabao (2nd R) poses together with European Commission President Jose Manuel Barroso (1st R), Czech President Vaclav Klaus (2nd L), whose country holds the rotating EU presidency, and EU foreign policy chief Javier Solana at the 11th China-EU Summit in Prague, Czech Republic, May 20, 2009Klaus, who has visited China three times, said he was very impressed every time he visited China. The Czech Republic considers China an important partner and is willing to strengthen cooperation and exchanges with China in various fields, Klaus said.     He expressed hopes that more Czech companies would invest in China.     Wen met Klaus after attending the 11th China-EU summit held here earlier Wednesday. The Czech Republic holds the rotating EU presidency.     Wen praised the efforts made by Klaus for the success of the summit and spoke highly of his contribution to bilateral relations. Chinese Premier Wen Jiabao (L, front) meets with Czech Prime Minister Jan Fischer (R, front) in Prague, capital of Czech Republic, May 20, 2009Also on Wednesday, the Chinese premier met Czech Prime Minister Jan Fisher.     Wen said it is particularly important for China and the Czech Republic to work together amid the global financial crisis.     The Chinese government is willing to expand trade with the Czech Republic and increase mutual investment and take concrete actions to promote trade balance, said the premier.     China welcomes the efforts by Czech enterprises to further explore the Chinese market, Wen said, adding that the two sides can also try to jointly explore third-party markets.     Both sides should create a sound environment for investment and cooperation between enterprises, Wen said.     Fisher said the Czech Republic considers the 60th anniversary as a new milestone and would enhance political dialogue with China and reinforce cooperation in such sectors as trade, investment, tourism and culture.     He also called for joint efforts with China to tackle the international financial crisis and push bilateral ties to a new high. Chinese Premier Wen Jiabao (L) shakes hands with European Commission President Jose Manuel Barroso (R) as Czech President Vaclav Klaus, whose country holds the rotating EU presidency, looks on at the 11th China-EU Summit in Prague, Czech Republic, May 20, 2009