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CAIRO, June 21 (Xinhua) -- China's new special envoy on the Middle East issue Wu Sike said here on Sunday that China is willing to push forward the peace process with all the parties concerned under new circumstances in the region. "The Chinese government and its people are very concerned about the situation of the Middle East, which has witnessed positive developments recently," Wu said during his talks with Egyptian Foreign Minister Ahmed Abu Gheit.     "China, together with the parties concerned and the international community, is willing to push forward the Middle East peace process under the current new circumstances," he added.   Arab League Secretary General Amr Mahmoud Moussa (R) meets with visiting China's special envoy on the Middle East issue Wu Sike in the headquarters of the Arab League in Cairo, capital of Egypt, on June 21, 2009    "Negotiation is the only and the best way to solve the conflicts in the region and China will support all the efforts in this regard," he said.     For his part, Abu Gheit said that Egypt appreciates China's efforts in facilitating the peace process, hoping that the Chinese government, along with the special envoy, would play a bigger role on the issue.     Earlier in the day, Wu also met with the Cairo-based Arab League Secretary General Amr Moussa.     Wu, former Chinese ambassador to Egypt, was appointed as the special envoy in March this year to replace Sun Bigan.     He has been director of the Department of West Asian and North African Affairs of the Foreign Ministry, ambassador to Saudi Arabia and Egypt, and also the first Chinese plenipotentiary to the Arab League.     Egypt is the first stop of Wu's regional trip which will also take him to the Palestinian territories, Israel, Jordan, Syria, Lebanon and Russia.

BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery.     The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008.     The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan    "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules."     Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year.     The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22.     "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps."     Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan.     Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs.     "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong.     "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said.     China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy.     The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues.     CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan.     Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus.     Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.

MOSCOW, May 14 (Xinhua) -- Wu Bangguo, China's top legislator, met with Russian Duma Chairman Boris Gryzlov on Thursday. Both leaders stressed the importance of parliamentary cooperation and the unique role it serves bilateral relations.     Wu, chairman of the Standing Committee of China's National People's Congress(NPC), hailed the bilateral parliamentary cooperation at various levels in recent years. Wu Bangguo, chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.He noted that such cooperation should continue to serve the interests of bilateral ties. In particular, such cooperation should first serve the strategic mutual trust and the interests of the common concerns of China and Russia.     The NPC and the Russian Parliament should provide firm support to each other on major issues involving state sovereignty, territorial integrity, and national security, he said.     The two should also reinforce strategic cooperation in international and regional parliamentary organizations, safeguard common benefits, and create a conducive environment for the development of the two countries, Wu said. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress (NPC), and Russia's State Duma Chairman Boris Gryzlov attend the third meeting of the cooperation committee between NPC and the Russian State Duma in Moscow, Russia, May 14, 2009.Wu also stressed the need for joint efforts to counter the current financial crisis. He called on the parliamentary bodies to approve bilateral cooperation deals on oil and natural gas on time.     He also urged the implementation of already-signed cooperation agreements, and for support to help Chinese and Russian enterprises find new opportunities for cooperation within each other's economic stimulus plans.     The NPC and the State Duma, the lower house of the Russian Parliament, should also be actively engaged in activities commemorating the 60th anniversary of the establishment of diplomatic ties and to broadly share the idea of friendship between the two nations, Wu said.     Gryzlov said parliamentary cooperation between Russia and China has served a significant and unique role in the fast development of bilateral ties.     Especially since the two parliaments established a regular exchange mechanism, more and more Duma legislators have been involved in promoting friendship between the two countries, he said.     The State Duma hopes to further strengthen its ties with the NPC, and to promote bilateral cooperation in areas such as politics, economy, culture, environment, anti-terrorism and anti-drug smuggling, Gryzlov said.     Wu is in Moscow for an official visit to Russia. Since arriving in Moscow on Wednesday, the legislator has met with Russian President Dmitri Medvedev and Sergei Mironov, chairman of the upper chamber of the Russian Parliament, known as the Federation Council.

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DALIAN, May 25 (Xinhua) -- China started the trading of polyvinyl chloride (PVC) futures contracts at 9 a.m. at DALIAN Commodity Exchange Monday, with September contract V909 opening 275 yuan higher at 6575 yuan per ton.     After steel futures and rice futures, this is the third new futures trading launched in China this year.     PVC is a kind of synthetic resin widely used in construction, plumbing, electric wires and packaging. China is the world's largest PVC manufacturer, with an annual output of 8.82 million tonnes last year. A trading staff looks at the price of futures contracts at the hall of the Dalian Commodity Exchange in Dalian, a coastal city in northeast China's Liaoning Province, May 25, 2009. China started the trading of polyvinyl chloride (PVC) futures contracts at 9 a.m. at Dalian Commodity Exchange Monday, with September contract V909 opening 275 yuan higher at 6575 yuan per ton. China is the world's largest PVC manufacturer, with an annual output of 8.82 million tonnes last year

BEIJING, July 3 (Xinhua) -- A total of 150 disabled people were honored in Beijing Friday as national models for self-reliance.     They were the fourth batch of such honorees since China began in 1991 to honor disabled citizens for their unyielding spirits in the face of adversity.     "I'm very happy and proud of myself," said 32-year-old Ma Yunli, one of the medal receivers.     A native in Yanan in northwest China's Shaanxi Province, the mentally-challenged girl was winner of several medals of Paralympic Games.     "Through years' efforts, I can basically take care of myself and can even do some simple things for my family members," she said.  Chinese President Hu Jintao (R, front) shakes hands with representatives before a national meeting in Beijing, capital of China, July 3, 2009. The meeting is to award some handicapped people for their self-reliance and a number of people and units for their assistance to the handicapped population. Leaders of the Communist Party of China and the Chinese government, including Hu Jintao, Wen Jiabao, Li Changchun, Xi Jinping and Li Keqiang, met with representatives before the meeting.    "I achieved my success with the help of many kindhearted people," she said. "There are still many mentally-challenged people like me who need to be taken care of and aspire for help. I also want them to achieve success."     According to the China Disabled Persons' Federation (CDPF), the honored disabled this year aged from 19 to 72. Some of them are workers, farmers, students, and others come from various sectors including education, medical service, law, culture and science.     Among them, 97 suffer from limb disabilities, 32 are sight-disabled, 18 have hearing problems, two are mentally-impaired, one suffers from more than one kind of disability.     Also at Friday's conference, 200 institutions and 150 individuals were honored for the great help they had given to the disabled.     China has more than 83 million people with various kinds of disabilities, accounting for 6.34 percent of the total population.     Chinese leaders including Hu Jintao, Wen Jiabao, Li Changchun, Xi Jinping, and Li Keqiang met the delegates of the conference before it started.     Vice Premier Hui Liangyu said while addressing the meeting that the government should "speed up the establishment of social security and service systems for the disabled to create equal and better environment for them to participate in social affairs and for their all-round development."     Activities to help this group of people should be "more professional" and "standardized," said Hui, also director of the disabled working committee of the State Council, or Cabinet.     The CDPF's Chairwoman Zhang Haidi, a wheelchair-bound writer, presided over the conference.

SHANGHAI, June 3 (Xinhua) -- Standard Chartered Bank (China) Limited announced Wednesday that it plans to issue 3.5 billion yuan (512 million U.S.dollars) financial bonds in China, the first foreign bank to issue Renminbi bonds in the Chinese mainland.     The announcement was made in the wake of a circular released by the State Council in April on building Shanghai into an international financial center and shipping hub.     The municipal government of Shanghai convened a working meeting late last month on preparation for the financial center goal, promising to support foreign banks to issue yuan-denominated bonds.     "As China's financial market continues to liberalize, Standard Chartered is seeing a number of opportunities for our business," said Peter Sands, Group Chief Executive of Standard Chartered Bank, during his visit to Beijing this week.     The issuance is expected to help elevate the Renminbi's status as an international reserve currency, develop local capital markets, and contribute towards Shanghai's development as a global financial center, said Sands.     Standard Chartered Group reported 26 percent income growth in 2008, or 13.97 billion U.S. dollars despite the difficult global economic environment.     In China, the bank has grown by an average annual compounded growth rate of 80 percent over the past four years.     Standard Chartered Bank is China's oldest foreign bank enjoying150 years of history. It is among the first batch of locally-incorporated foreign banks and has one of the largest foreign bank networks operating in China.

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ROME, May 21 (Xinhua) -- China's top legislator Wu Bangguo met with Italian President Giorgio Napolitano here on Thursday afternoon, and the two leaders exchanged views on how to address the current global financial crisis.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top Chinese legislature, said China is positive about the results of the London G20 summit and appreciates the efficient efforts that Italy has made in preparation for the dialogue meeting between the leaders of G20 countries and five major developing countries (8+5 dialogue). Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, talks with Italian President Giorgio Napolitano in Rome, May 21, 2009.     Wu emphasized that against the background that the financial crisis continues to spread in the world, the international community should strengthen cooperation by implementing the consensus of the G20 summit, curbing the slide of economy and opposing protectionism. In the meantime, the international community should push forward reform of the international financial system and establish a new order of world economy.     Napolitano agreed with Wu's comment, saying that the global impact of financial crisis proved the increasingly close links among different economies. He said global challenges call for a globalized resolution. Italy is ready to strengthen cooperation with China and other developing countries at the 8+5 dialogue.     Napolitano stressed that Italy will join hands with China to firmly oppose trade protectionism and address the international financial crisis.     On China-EU relations, Wu said a strong Europe and a developing China share broad common interest and can contribute to world peace and development. He said China supports the integration process of the European Union, adding that the EU should play an active role in regional and international affairs.     Wu said China places great importance on developing relations with the EU. He expressed the wish to deepen practical cooperation in all fields and expand trade and investment. He said the two sides should carry out dialogues and communication on major issues on the basis of mutual respect of sovereignty and non-interference in each other's internal affairs.     Napolitano said as an important member of the EU, Italy is ready to play a constructive role in the regional bloc and help push for a healthy, stable development of EU-China relations.     Napolitano said China's development will not only benefit the Chinese people, but also contribute to peace and development of the world.     Wu said that China is still a developing country, with its per capita GDP ranking below 100th place in the world. He said China will continue to focus on development by working on economic restructuring and industry upgrading. China has adopted composite measures to address both current difficulties and long-term need so as to achieve all-round, balanced and sustainable development.     Wu is on an official goodwill visit to Italy.

BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

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BEIJING, July 4 (Xinhua) -- Former Chinese Vice Premier Zeng Peiyan on Saturday called for the whole world to work together to seek reforms in financial supervision, boost economic restructuring and build a green economy.     The present financial crisis has revealed deep-rooted structural imbalance within the traditional economy and developing pattern, and the world should focus on solving such issues in the post-crisis era, he told Xinhua during an exclusive interview at the Global Think Tank Summit.     The international community should jointly improve the global financial supervision system with generally-accepted regulatory standards to monitor and intervene on possible systematic risks as early as possible, Zeng said.     The international currency system should be reformed into a steady, foreseeable and diversified one, and it is necessary to set supervision on the financial stability of nations of major reserve currencies, he told Xinhua.     It would take a long time to carry out the global economic restructuring and solve the imbalances between consumption and savings, he said, adding that such a move needs efforts from both developed countries and developing ones.     Zeng called on developed countries to help developing countries by improving their external environment for economic development, as developing countries have already become the biggest victims of the present crisis.     Zeng also called for more international cooperation in building a green economy, as developing countries need technical and financial support from developed countries to avoid wasting resources and destroying the environment while seeking economic revival.     The summit, which concluded on Saturday, is organized by the China Center for International Economic Exchanges (CCIEE), a non-governmental research and consulting organization created this March, with Zeng as its director.     The three-day summit had attracted over 900 scholars, experts and business leaders from all over the world, including former President of the European Commission Romano Prodi and former Secretary of State of the United States Henry Kissinger

BEIJING, May 2 (Xinhua) -- President Hu Jintao on Saturday urged young Chinese to embrace "patriotism," "diligence," "practice" and "devotion" to rejuvenate the Chinese nation.     Young people should courageously shoulder their historic mission and work hard with the whole nation to build socialism with Chinese characteristics, Hu said. Chinese President Hu Jintao (front) waves to teachers and students in the China Agricultural University, in Beijing, May 2, 2009. President Hu Jintao on Saturday urged young Chinese to embrace "patriotism," "diligence," "practice" and "devotion" to rejuvenate the Chinese nationHe made the remarks during a visit to Beijing-based China Agricultural University ahead of the Chinese Youth Day, which is Monday.     The day originated from the "May Fourth Movement," a mass student movement in China that began on May 4, 1919. It spearheaded a national campaign to overthrow the feudal society and promote scientific and democratic ideas.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee, said that in the past 90 years, generations of young Chinese, encouraged by the "May Fourth" spirit which highlights patriotism, progress, democracy and science, have made unremitting efforts in pursuit of the grand goal of rejuvenating the Chinese nation. Chinese President Hu Jintao (R) shakes hands with teachers and students during his visit to the China Agricultural University, in Beijing, May 2, 2009."Now, the bright prospect of realizing that goal has dawned before us, and the best way for modern young people to remember the movement and the forerunners is to work persistently with the whole nation for the progress of the socialist cause with Chinese characteristics," he said.     The tasks the students shoulder are heavy and their mission is glorious, the president said, encouraging them to uphold patriotism, study diligently, practise what they have learned at school, and dedicate themselves to the society by working hard for the bright future of the country. Chinese President Hu Jintao (C) talks with teachers and students in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009. "First, I hope you will always uphold the banner of patriotism, as it is the spiritual backbone that has sustained the Chinese nation through all the tribulations."     Hu said that in modern China, the most distinctive theme of patriotism is promoting the socialist modernization through reform and opening-up, building a well-off society and turning the blueprint of rejuvenating the Chinese nation into reality. He urged the students to realize the value of their lives through working for the country and the people.     Secondly, he encouraged the students to study hard to lay a foundation for their future progress in life. "Our country's modernization drive calls for a large number of high-quality professionals, and so long as you study diligently, you will become useful people for the nation's development." Chinese President Hu Jintao (C) talks with teachers and students in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009.Thirdly, Hu called on the students to put what they've learned at school into social practice and undergo the test of harsh environment. "I hope more students will voluntarily temper themselves at the grassroots level and work at places where the country and people need them most."     He also called for devotion from the young people, urging them not to just seek personal interests but dedicate themselves to the society. Chinese President Hu Jintao (L) shakes hands with a student in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009.Hu also visited the university's greenhouse and biological labs, praising its contribution to the country's agricultural development.     Concerned with the issue of graduate employment, Hu encouraged the students to voluntarily choose to work at the grassroots level, and told the school to offer better service in helping them find jobs. Chinese President Hu Jintao (C, front) talks with a student in a greenhouse during his visit to the China Agricultural University, in Beijing, May 2, 2009