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NANNING, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that China's financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis.     Wen made the remarks during an inspection tour to Guangxi Zhuang Autonomous Region in southwest China. Chinese Premier Wen Jiabao greets workers as he visits an oil refinery under construction in Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 4, 2008. He said that the world economic situation has had dramatic changes this year, the United States' subprime crisis has been deteriorating and is having an increasingly serious negative impact on the world's financial market and the world economy as a whole.     Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development. As a result, the country's economy has maintained its momentum of smooth and rapid development, Wen said.     Generally speaking, China's economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier.     "We have full confidence in China's economic development and financial stability," Wen said, stressing that the most important thing is to do our own business well, maintain the stability of the economy and the financial and capital markets.     "It is the biggest contribution to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development," he said.     On Saturday and Sunday, Wen inspected villages and factories in the cities of Beihai, Qinzhou and Fangchenggang, and talked with local people of different nationalities and from all walks of life.     He said that the development of Beibu Gulf should focus on technological innovation and environmental protection to build into an important zone for international and regional economic cooperation.     In Gaosha Village of Qinzhou, Wen inspected rice paddy and visited farmers' homes. He said that the government will further reinforce its support for agriculture, continue to increase subsidies to farmers and raise the minimum grain purchasing prices to mobilize farmers to produce more grain.Chinese Premier Wen Jiabao examines the growth of paddy at Gaosha Village in the Qinnan District of Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 5, 2008. Wen made an inspection tour in Guangxi on Oct. 4-5. 

NANNING, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao said here Sunday that China's financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis.     Wen made the remarks during an inspection tour to Guangxi Zhuang Autonomous Region in southwest China. Chinese Premier Wen Jiabao greets workers as he visits an oil refinery under construction in Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 4, 2008. He said that the world economic situation has had dramatic changes this year, the United States' subprime crisis has been deteriorating and is having an increasingly serious negative impact on the world's financial market and the world economy as a whole.     Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development. As a result, the country's economy has maintained its momentum of smooth and rapid development, Wen said.     Generally speaking, China's economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier.     "We have full confidence in China's economic development and financial stability," Wen said, stressing that the most important thing is to do our own business well, maintain the stability of the economy and the financial and capital markets.     "It is the biggest contribution to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development," he said.     On Saturday and Sunday, Wen inspected villages and factories in the cities of Beihai, Qinzhou and Fangchenggang, and talked with local people of different nationalities and from all walks of life.     He said that the development of Beibu Gulf should focus on technological innovation and environmental protection to build into an important zone for international and regional economic cooperation.     In Gaosha Village of Qinzhou, Wen inspected rice paddy and visited farmers' homes. He said that the government will further reinforce its support for agriculture, continue to increase subsidies to farmers and raise the minimum grain purchasing prices to mobilize farmers to produce more grain.Chinese Premier Wen Jiabao examines the growth of paddy at Gaosha Village in the Qinnan District of Qinzhou City, southwest China's Guangxi Zhuang Autonomous Region, Oct. 5, 2008. Wen made an inspection tour in Guangxi on Oct. 4-5. 

BEIJING, April 25 -- The key mainland stock index yesterday soared 9.29 percent, the biggest one-day jump in six years, as investor sentiment was boosted by the government lowering of stamp duty.     The slashing of trading tax from 0.3 percent to 0.1 percent, effective yesterday, was widely seen as another government effort to lift the stock market from the doldrums it has been in for six months.     It followed the introduction of trading rules last Sunday to mitigate the impact of an expected flood of previously non-tradable shares after the lock-in period, which could greatly depress the market. Investors look over information at a stock exchange at a stock trading hall in Beijing, April 24, 2008. Equities trading tax cut, which is widely believed as policy boost by government to stem the recent slump, sends Chinese shares 9.29 percent higher on Thursday, the biggest gain since Oct 23, 2001    The Shanghai Composite Index yesterday surged 304.7 points to close at 3583.03.     In yesterday's trading, gainers outnumbered losers by 853 to 1. The Shenzhen Component index jumped 9.59 percent, or 1130.61 points to close at 12914.76. Total market capitalization swelled 9.2 percent to 22.94 trillion yuan (.3 trillion).     Turnover on the two bourses more than doubled from the day before to 261 billion yuan ( billion), the highest this year.     Analysts said the reduction in the stamp duty and restrictions on the sale of unlocked shares showed that the market has fallen as low as the government would like to see.     "The timing of the stamp duty cut suggests that the 3000 point may be a psychological bottom line for policymakers," said Peng Cheng, an economist at Citi China.     "The government had been patient in waiting until the market correction was more than 50 percent before taking action," Peng added.     Xu Wei, an analyst at Sinolink Securities, estimated that the cut in stamp duty saves investors up to 102 billion yuan (.7 billion) a year.     In addition, "the relatively lower A-share valuation and the more stable performance of overseas stock markets have combined to help investors regain confidence," said Rui Kun, a fund manager at China international Fund Management Co Ltd.     Security companies, especially those focusing on brokerage services, will benefit from the increasingly active trading because of the stamp tax cut, analysts said.     Shanghai-based Haitong Securities, Sinolink Securities and Guoyuan Securities soared to the daily limit of 10 percent.     However, some market insiders said that weak fundamentals and unfavorable China economic growth data are likely to outweigh the positive impact of the government move, and the rebound may not last long.     "It is doubtful that such administrative measures can have a sustained effect on shares when earnings face significant challenges in the periods ahead," said Peng at Citi China.     "The cumulative effect of tightening policies and rising input costs, along with shrinking demand, could cut profits more deeply than what is currently evident," Peng added.

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BEIJING, June 20 (Xinhua) -- The Ministry of Finance said late Friday it allocated another 3.78 billion yuan (548 million U.S. dollars) in subsidies to help low-income families against the latest fuel price hikes announced a day earlier.     Of the total, 1.85 billion yuan will go to urban low-income families, and the rest will be offered to such families in rural areas, the ministry said.     Low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for rural families, according to the announcement on Thursday. Vehicles line up at a gas station before the midnight deadline for price rises, in Qingdao, east China's Shandong Province, June 19, 2008    The ministry had earmarked early on Friday 19.8 billion yuan in subsidies to cover extra expenses of groups and sectors that could be affected, including grain producers, taxis and urban and rural buses.     The subsidies were intended to "effectively ease the cost pressure on some low-income groups and public service industries exerted by the fuel price adjustment," said the ministry earlier.     It was part of the government effort to blunt the impact of a surprise increase of fuel prices, since inflationary pressure is already high.     China's benchmark gasoline and diesel oil retail prices were raised by 1,000 yuan per tonne and that of aviation kerosene went up by 1,500 yuan per tonne, effective on Friday, according to the National Development and Reform Commission (NDRC).     However, fares for passenger rail services, urban and rural public transport and taxis would be unchanged, said the commission.

BEIJING, June 16 (Xinhua) -- Prevention of secondary disasters, such as landslides and mud-rock flows, amid rain storms and frequent aftershocks following the May 12 earthquake was an "urgent task", said the quake relief headquarters of China's State Council on Monday.     "New geological disasters can happen at any time due to the long-lasting aftershocks and much stronger precipitation as the country's rivers enter the flooding season," the headquarters warned after a meeting presided by Premier Wen Jiabao.     The quake zone and the rain-lashed southern regions are the focuses of the prevention work, according to the meeting.     Work must be sped up to remove the dangers of quake-formed lakes, quake-damaged dams and hydropower plants as well as dikes of major rivers, the headquarters said.     The headquarters urged local governments and related departments to strengthen monitoring and alarms of rains, floods and aftershocks, and told quake-hit regions to base their recovery plans on geological hazard assessment. Chinese Premier Wen Jiabao (C Back) presides over the 19th meeting of the quake relief headquarters of the State Council (Cabinet) in Beijing, capital of China, June 16, 2008. The meeting focused on the prevention of secondary disasters of quake    Up to 50,000 residents were asked last week to move from highly-dangerous terrain in Wenchuan, epicenter of the May 12 earthquake, to shelters built on open and solid ground before June30 to avoid secondary disasters.     As of Monday noon, 12,437 aftershocks had been detected since the 8.0-magnitude quake struck southwest Sichuan Province, official figures show.     By Sunday, at least 57 people had been killed and 1.27 million people relocated as rainstorms and floods ravaged nine provinces and region in south China.

ROME, June 4 (Xinhua) -- Food security in China is guaranteed despite the recent major earthquake and heavy snowfalls earlier this year, China's Agriculture Minister Sun Zhengcai said in an interview with Xinhua.     "The earthquake will not change the nation-wide situation of agricultural production this year since local output of the affected area is quite small compared to that of the whole country," Sun said, who was attending a world summit here on soaring food prices, hosted by the United Nations Food and Agriculture Organization (FAO).     An 8.0-magnitude earthquake hit southwestern China in May, with its epicenter in Wenchuan County, a mountainous area of Sichuan province, with the death toll currently at over 70,000 people and causing massive economic loss.     Sun acknowledged local agricultural production was in no way immune from damage. A farmer harvests wheat in the Hailing District of Taizhou, east China's Jiangsu Province, June 3, 2008. The harvest season for nearly 19,000 hectares of wheat in Taizhou started on June 3.    "The damage was mainly to planted crops and livestock," he said, adding an urgent harvesting and planting effort has helped minimize the impact and which had no national implications.     The devastating earthquake struck following severe snow and ice storms that swept southern China early this year, giving rise to concerns about food shortages in the world's most populous country.     However, Sun said food security remains guaranteed because of sufficient stockpiles and a big harvest ahead.     "This year, China's agriculture has prevailed over disasters of snow and ice storms and the extremely severe earthquake, and our summer grains and oilseeds are set to harvest good crops," he said.     Since 2004, food production in China has increased for four consecutive years and the total grain output exceeded 500 million tons last year.     Sun said China's grain reserves are currently abundant and there is enough supply of major farm products to offset the effects of the two natural disasters.     If there are no more major disasters, China is expected to have a big summer harvest this year, with grain output set to rise for the fifth consecutive year. Even in southern China, oilseeds, which had been feared to drop due to the snowfalls, would reverse the declining trend in the previous three years.     Sun said as a huge, developing country with 1.3 billion people, China has always paid great attention to food and agricultural development.     The Chinese government will continue to adhere to the food security policy of basic self-sufficiency, complemented by imports and exports to readjust surplus and shortfalls, he said.

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BEIJING, Oct. 14 (Xinhua) -- China on Tuesday reaffirmed its resolve to keep its economy on track amid the global financial turmoil.     In a meeting with visiting U.S. Senator Chuck Hagel, Vice Premier Wang Qishan said the financial crisis, triggered by the U.S. credit crunch, had exerted a grave impact on the global financial market. Chinese Vice Premier Wang Qishan(R) shakes hands with visiting U.S. Senator Chuck Hagel in Beijing, capital of China, Oct. 14, 2008 "As a responsible country, China has always valued the communication and cooperation with other nations to ensure world financial and economic stability."     Wang said China would make great efforts to keep its economy on the right track, which would be the country's greatest contribution to the world.     China had implemented and would continue measures to ensure the stability of finance, economy and the capital market, he said, referring to a package of new policies to spur economic growth.     The central bank cut interest rates on Sept. 15 for the first time in six years.     The People's Bank of China, the central bank, announced the deposit and lending rates would be lowered by 0.27 percentage points and the reserve-requirement ratio would be reduced 0.5 percentage points starting Oct. 15.     "With tools at our disposal, we are confident and capable of prevailing over the overall difficulties and challenges," Wang told Hagel.     He added the overall bilateral relations of the two countries had moved forward and become increasingly interdependent since forging diplomatic ties in 1979.     To promote China-U.S. ties was in the fundamental interests of the two nations, he said.     Wang proposed the two deepen a strategic trust and take a candid and pragmatic approach in addressing differences. They should work more closely on economy, trade, investment, energy, environment and high-tech.     He also urged the United States to observe the three joint communiques, refrain from anything harmful to bilateral ties and the stability of the Taiwan Straits, so as to ensure the sound and steady progress of bilateral constructive cooperation.     As all nations were becoming more connected, Hagel, a Republican senator from Nebraska, said the stronger cooperation between the United States and China would help ensure world financial and economic stability.

BEIJING, June 10 (Xinhua) -- The quake relief headquarters of the State Council (cabinet) Tuesday sent a congratulatory telegram to the Tangjiashan lake emergency rescue headquarters for the successful drainage of the quake lake.     "After more than 10 consecutive days of hard work, you successfully drained the Tangjiashan quake lake and eliminated a huge threat of secondary disaster after the May 12 quake," the telegram said. The drainage water of Tangjiashan quake-formed lake passes Mianyang City, southwest China's Sichuan Province, June 10, 2008. The crest of the flood from Tangjiashan quake-formed lake passed safely by downstream Mianyang City on Tuesday afternoon. (Xinhua Photo)Photo Gallery>>>    "Your work has ensured the people's security, avoided a huge loss and created a miracle in dealing with large quake-formed lakes," it said.     "The State Council quake relief headquarters would like to express heart-felt gratitude and respect to the troops, geologists and quake and weather technicians working at the front line and those who helped evacuate people in low-lying areas," it said.     The headquarters urged people to continue the work until they were done with follow-up activity in terms of drainage and evacuations.     The Tangjiashan lake was formed after quake-triggered landslides from Tangjiashan Mountain blocked the Tongkou River running through Beichuan County, one of the worst-hit areas in the quake that struck southwestern Sichuan Province.     Had the lake overflowed, it could have threatened some 1 million people on the lower reaches of the lake.     A man-made spillway started to drain the lake on Saturday morning and military engineers used recoil-less guns, bazookas and dynamite on Sunday and Monday to blast boulders and other obstructions in the channel and speed up the outflow.     The lake shrank dramatically on Tuesday as muddy water flowed into the low-lying areas.     About half of the lake's 250 million cubic meters of water has been discharged since the drainage started.     More than 250,000 people in low-lying areas of Mianyang were relocated under a plan based on the assumption that one-third of the lake volume breached the dam.

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BEIJING, Oct. 11 (Xinhua) -- The latest tests found that Chinese liquid dairy products met the new temporary restrictions on melamine, the country's top quality control agency said on Saturday.     It was the ninth investigation on the industrial chemical following the tainted baby formula scandal that killed at least three infants and sickened more than 50,000 others, according to the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ).     The latest tests covered 532 batches of liquid milk, including yogurt, from 69 brands in 23 major cities nationwide, the agency said.     At present, 4,213 batches of liquid dairy products from 131 brands produced after Sept. 14 were tested and all in line with the limit, it added.     Melamine, often used in the manufacturing of plastics, was added to sub-standard or diluted milk to make the protein levels appear higher.     China on Wednesday set temporary limits on melamine content in dairy products. The limits were a maximum of 1 mg of melamine per kg of infant formula and a maximum 2.5 mg per kg for liquid milk, milk powder and food products containing at least 15 percent milk.     The State Council, or Cabinet, issued a series of quality control regulations for dairy products on Thursday.     The regulations tighten control of how milk-yielding animals are bred, how raw milk is purchased and the production and sales of dairy food.     They promised more severe punishment for people who violated safety standards and quality control departments that failed to fulfil their duties.

CHENGDU, May 16 (Xinhua) -- Rescue operation and disaster relief for victims in the worst earthquake over decades are of top priority of the nation, and thus require concerted efforts from the whole country, Chinese Premier Wen Jiabao said Thursday night.     Monday's 7.8-magnitude earthquake that ravaged southwestern Sichuan Province and was felt in most parts of the country was the "most destructive" tremor and had the "most wide-spreading impact" since New China was founded in 1949, Wen said on a meeting of the rescue headquarters under the State Council headed by himself. Chinese Premier Wen Jiabao (L) comforts local people in Muyu Township, Qingchuan County, southwest China's Sichuan Province May 15, 2008. Qingchuan County is one of the worst-hit areas in Sichuan Province. Premier Wen is here to oversee rescue work and visit survivors.It was even more powerful than the Tangshan earthquake in 1976,Wen said. The catastrophe in northern Hebei Province claimed about240,000 lives three decades ago.     He hailed the efficiency and order the country has maintained for the past 80 hours as the country focused its resources on saving lives and disaster relief work for quake victims.     He said the government will stick to its "people-first" policy in its future rescue operations and reconstruction works. A mother deadly cries after knowing her child lost life in the devastating earthquake in Sichuan Province May 15, 2008. "Saving lives is still our top priority, as long as hope of survival still exists," Wen said, urging that social stability to be maintained.     He warned relevant authorities to pay special attention to the prevention of plagues.     He said supplies of food, medicines, and tents must be ensured.     More than 50,000 people are feared dead in Sichuan alone after Monday's earthquake, with confirmed death toll in the province hitting 19,509 by Thursday afternoon.