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BEIJING, Nov. 27 (Xinhua) -- Days after the United States announced to cut its carbon dioxide emissions by 17 percent from 2005 levels by 2020, China promised to slice carbon intensity in 2020 by 40 to 45 percent compared with 2005 levels.     The respective policy movements of both China and the U.S., the biggest two emitters in the world, won global attention, if not instant applause. The early signs of the concerted efforts could be sensed after the two countries, the biggest developed and developing economies, released a joint statement on Nov. 17 during U.S. President Barack Obama's first China visit.     The two sides, according to the joint statement, had a "constructive and fruitful dialogue" on the issue of climate change.     It also said that the two sides were determined, in accordance with their respective national conditions, to take important mitigation actions.     The policy announcements from the two countries came just as the international community was worried about a possible stalemate at the United Nations Climate Change Conference in December in Copenhagen, Denmark.     Although not required by the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol for quantitative greenhouse gases (GHGs) emissions cut, China, defined by the United Nations as a developing country, still puts a drastic slash of its GHGs emissions in the coming ten years, even at cost of lowering its own economic development speed.     Economists estimated that China might double its current gross domestic product (GDP) by 2020. A 45-percent reduction of carbon emissions per unit of GDP means China would emit slightly more carbon dioxide than current levels.     At the same time, the Chinese government voluntarily set "the binding goal," which is to be incorporated into China's mid- and long-term national social and economic development plans.     It's much more than a developing nation is expected to offer, out of responsibility of and sincerity to addressing the common challenge faced by the international community.     Held by the UNFCCC accountable for contributing most of the total global carbon dioxide emissions, which were assumed to warm the planet and consequently result in natural disasters, many industrialized countries dodged their responsibilities of cutting emissions to levels that meet requirements of the Kyoto Protocol and the Bali Roadmap.     The United States, in spite of announcing a meaningful emissions cut of 17 percent, still lags far behind what the UNFCCC requires developed countries to behave.     In the Sino-U.S. joint statement, the two sides were committed to reach a legal agreement at the Copenhagen conference, which includes emissions reduction targets of developed countries and appropriate mitigation actions of developing countries on the basis of the principle of common but differentiated responsibilities and respective capabilities.     The U.S. and China also agreed substantial financial assistance to developing countries on technology development, promotion and transfer, which was largely invalid in the past years.     As China takes the lead to exemplify how a developing country, with the world's biggest population, could do to a better future of the world, it is now the developed world's turn to show their sincere care for a greener Earth.

BEIJING, Jan. 10 (Xinhua) -- China's foreign trade in 2009 dropped 13.9 percent from a year earlier to 2.21 trillion U.S. dollars and its trade surplus last year slid 34.2 percent year on year to 196.1 billion U.S. dollars, according to figures released Sunday by the General Administration of Customs (GAC).     In breakdown, China's exports in 2009 stood at 1.2 trillion U.S. dollars, down 16 percent from in 2008, and imports reached 1.01 trillion U.S. dollars, down 11.2 percent from a year earlier, said the GAC.     In December 2009, monthly trade amounted to 243 billion U.S. dollars, which represented a year-on-year increase of 32.7 percent and a month-to-month rise of 16.7 percent.     Last month, China's exports were worth 130.7 billion U.S. dollars, up 17.7 percent from a year earlier. December's imports hit record monthly high to reach 112.3 billion U.S. dollars, up 55.9 percent from the same period of 2008, according to the GAC.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.

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BEIJING, Nov. 25 (Xinhua) -- A Chinese diplomat told reporters Wednesday a substantial content is more important than the title of the outcome of the forthcoming climate talks in Copenhagen, Denmark.     The key to success of the conference is to uphold the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol, the principle of "common but differentiated responsibilities" and the Bali Road Map, said Yu Qingtai, special representative of the Foreign Ministry for the UN climate change talks.     "No matter what the title of the conference outcome will be, we must follow the principles of the UNFCCC and the Bali Road Map," Yu said.     He said China's determination in coping with climate change has never wavered and it has never relaxed efforts in this regard though the global financial crisis has posed a severe challenge for the country's economic growth.     However, it is unfair to make developing countries shoulder the same responsibilities as rich countries on emission reduction, Yu said.     "The principle of 'common but differentiated responsibilities' is the foundation for international cooperation, and denial of the principle undermines the basis for international partnership," Yu said.     "Common but differentiated responsibilities" was set up in the UNFCCC, which was signed by more than 150 countries in 1992.     In less than two weeks, the 15th Conference of the Parties of the UNFCCC will open in Copenhagen to renew greenhouse gas emissions reduction targets set by the UNFCCC Kyoto Protocol, the first stage of which expires in 2012.

BEIJING, Dec. 1 (Xinhua) -- Chinese Premier Wen Jiabao on Monday called for more peace efforts from Israel and Palestinians toward a two-state solution.     Wen made the appeal on the occasion of the International Day of Solidarity with the Palestinian People.     In a congratulatory message to this year's UN activities to observe this day, Wen said the Palestinian issue is at the core of the Middle East issue.     "China firmly supports the demands of Palestinian people for the restoration of their legitimate national rights and for the establishment of an independent state," said Wen.     The Middle East Peace process is at a crossroads. China hopes that Israel and Palestinians could guide the peace talks toward a desired direction and work for a two-state solution in accordance with relevant UN resolutions and the "land-for-peace" principle, he said.     An early resolution of the Palestinian issue in a comprehensive, just and permanent manner is not only beneficial to the Palestinian people, but also conducive to peace and stability in the whole Middle East region, said Wen.     As a permanent member of the UN Security Council, said Wen, China remains committed to the Mideast peace process and is willing to play a constructive role, together with the international community, in promoting peace, stability and development in the Middle East.

SHANGHAI, Nov. 16 (Xinhua) -- President Barack Obama said here on Monday the United States would continue to fully support the one-China policy, and would be very pleased to see the improving cross-strait relationship.    "I have been clear in the past the United States supports a one-China policy. We do not want change that policy or approach," he said during a dialogue with Chinese youth in the nation's economic hub Shanghai.     "I am very pleased with the reduction of tensions and improvement of the cross-strait relations," he said. U.S. President Barack Obama gestures as he delivers a speech at a dialogue with Chinese youth at the Shanghai Science and Technology Museum during his four-day state visit to China, Nov. 16, 2009    He noted it was his "deep desire and hope" that he would continue to see great improvement between the Chinese mainland and Taiwan in resolving issues.     Economic and commercial ties were helping to lower a lot of tensions, he said.     He said as some people looked towards the past, he preferred to look towards the future.     Obama arrived in Shanghai late on Sunday and met city officials Monday morning before his meeting with young Chinese.

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BEIJING, Nov. 15 (Xinhua) -- China should enhance supervision and management of the country's insurance investment, said Li Kemu, vice chairman of the China Insurance Regulatory Commission (CIRC),on Sunday.     "With insurance funds were extended into disparate fields, other than bank deposit, demand for a better supervision and risk control enhanced, said Li at the International Finance Forum held in Beijing.     By the end of September, 3.4 trillion yuan (497.8 billion U.S. dollars) of insurance funds were invested in bonds, mutual funds, and stocks markets. Bonds investment alone accounted for 50.6 percent of the total.     Jiang Dingzhi, China Banking Regulatory Commission (CBRC) Vice Chairman also highlighted the importance of establishing a "all-coverage" financial supervision system.     He suggested the country broaden the financial supervision and management system, which would put the mutual funds, hedge funds, and credit risks appraisal agencies under control.     The new system requires financial institutions to share information, and also cooperate to fill the supervision blanks between different financial markets, he said.

WUHAN, Nov. 28 (Xinhua) -- A senior leader of the Communist Party of China (CPC) has urged officials and governments at all levels to serve the people by addressing their concerns.     He Guoqiang, member of the Standing Committee of the CPC Central Committee, made the remarks during his visit in Chibi City of central China's Hubei Province on Saturday.     He said officials and governments must solve well the problems that concern people's immediate interests to ensure social harmony and stability.     When visiting a local village and urban community of the city, He urged local officials to help residents increase their incomes and answer the needs required by the people.     He asked the officials to improve their ability of resolving practical problems to bring about more tangible benefits to local people.     He, also secretary of the Central Commission for Discipline Inspection of the CPC, also called on local Party organs to improve their organizational construction, promote intra-party democracy and strengthen the struggle against corruption.

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URUMQI, Dec. 6 (Xinhua) -- A railway became operational Sunday in west China's Xinjiang Autonomous Region, which is expected to boost the transportation from China to central Asia and Europe, said local railway authorities.     The railway, called Second Urumqi-Jinghe Line, runs 381.5 km and links the region's capital Urumqi and Jinghe county. It has a designed transportation capacity of 67.1 million tonnes, which is expected to grow up to 91.7 million tonnes in the future. With a designed speed of 120 km per hour, the railway cost 2.77 billion yuan, according to a statement from Xinjiang Railway Bureau.     Jinghe is linked to Horgos and Alataw Pass, ports on the China-Kazakhstan border, by two other railways. One starts from Jinghe and ends at Horgos. The other runs from Urumqi through Jinghe to Alataw Pass.     The launch of the new railway would greatly enhance China's transportation capacity to Kazakhstan and further into other countries in central Asia and Europe, the statement said.

BEIJING, Dec. 8 (Xinhua) -- China's exchange rate regulator said Tuesday it would work to promote balance of payment next year by stabilizing exports while expanding imports.     The promotion of balance of payment should be the fundamental of the work in 2010 in order to safeguard the nation's economic and financial security, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE).     He said SAFE would continue to diversify the investment of foreign reserves, and ensure the safety, liquidity and the value of the mounting assets, which have ballooned to more than 2 trillion U.S. dollars.     The authority would also step up supervision of the cross-border money flow to protect national financial safety, he said.     Yi also noted SAFE would seek chances to push forward reforms in key areas and links of the foreign exchange management but didn't elaborate.