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News from China
Chinese shares up, turnover down
27th April 2016

Chinese shares rebounded on Tuesday, with the benchmark Shanghai Composite Index up 0.61 percent to close at 2,964.7 points.

 
The smaller Shenzhen index closed 1.02 percent higher at 10,209.9 points. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 1.36 percent to close at 2,155.7 points.
 
The shares slowly retreated to losing territory following a higher opening, but they staged a sharp rebound near the end of Tuesday's trading.
 
More than 2,100 shares, or 75 percent of the total, posted increases.New shares enjoyed the largest gains, while ceramics makers suffered the biggest blow.
 
Combined turnover on the two bourses continued to wane to 382 billion yuan (some 59 billion U.S. dollars) from 391 billion yuan on Monday, indicating persistent wait-and-see market sentiment.
 
The Shanghai Composite Index fell below 3,000 points at closing on April 20 and has since stayed under that mark with mild fluctuations. 
Source: Xinhua
China micro-credit firms' outstanding loans at 938 bln yuan by March
26th April 2016

Outstanding loans extended by China's micro-credit companies amounted to 938 billion yuan (144 billion U.S. dollars) by the end of March, data from the central bank showed on Monday.

 
The volume was down 3.2 billion yuan from the end of 2015.
 
By the end of March, the number of micro-credit companies in China came in at 8,867, the People's Bank of China said in a statement on its website.
 
Micro-lenders largely target small companies and low-income groups in need of capital. In recent years, micro-lending companies have become an important channel for medium- and small-sized firms as well as individuals to access funds.
 
The central bank report showed east China's Jiangsu Province had 637 small-credit companies by September, the most of any provincial-level region, followed by Liaoning Province and Hebei Province.  
Source: Xinhua
China open to Sino-U.S. space cooperationXinhua
25th April 2016

China is open to space cooperation with all nations including the United States, the heavyweights of China's space program said on Sunday, the anniversary of China's first satellite launch 46 years ago.

 
"China will not rule out cooperating with any country, and that includes the United States," said Yang Liwei, China's first astronaut.
 
Payload has been reserved in the Chinese space station, due to enter service around 2022, for international projects and foreign astronauts, said Yang on the occasion of the first China Space Day, an annual celebration newly designated by the government.
 
Upon request, China will also train astronauts for other countries, and jointly train astronauts with the European space station, Yang said.
 
"The future of space exploration lies in international cooperation. It's true for us, and for the United States too," according to the senior astronaut.
 
His words were echoed by Zhou Jianping, chief engineer of China's manned space program. Zhou said, "It is well understood that the United States is a global leader in space technology. But China is no less ambitious in contributing to human development."
 
"Cooperation between major space players will be conducive to the development of all mankind," Zhou added.
 
Citing security reasons, the U.S. Congress passed a law in 2011 to prohibit NASA from hosting Chinese visitors at its facilities and working with researchers affiliated to any Chinese government entity or enterprise.
 
The ban remains in effect.
 
The U.S.-dominated International Space Station, which unsurprisingly blocks China, is scheduled to end its service in 2024. China's space station could be the only operational one in outer space, at least for a while.
 
Commenting on Sino-U.S. space relations earlier this week, Xu Dazhe, the head of China's National Space Administration, cites Hollywood sci-fi blockbuster "The Martian," in which a U.S. astronaut gets stranded on Mars and is eventually brought back to Earth by NASA, with help from China.
 
Xu Dazhe noted that China and the United States established a special dialogue mechanism last year and talks would continue this year.
 
For chief engineer Zhou, the movie simply reflects what most people want. "Many American astronauts and scientists that I have met said they would like to work with us, if given the freedom of choice."
 
The China Space Day was designated to mark the launch of China's first satellite on April 24, 1970. 
Source: Xinhua
President Xi stresses protecting people's interests in petitioning
22nd April 2016
Chinese President Xi Jinping has urged governments and localities to invest greater efforts in addressing outstanding issues in public petitioning, an official release said on Thursday.
 
Xi said in an instruction that outstanding issues aired in public comments and complaints comprise both fresh and lingering problems, but all are concerned with the immediate interests of the general public, social harmony and stability.
 
All government departments and localities must attach great importance to the work and properly address the people's legitimate and lawful petitioning through legal, policy, economic and administrative means, said Xi, also general secretary of the Communist Party of China (CPC) Central Committee.
 
He called on authorities at all levels to strengthen analysis of risks as well as the management of sources of conflicts and disputes, making efforts to "nip conflicts and disputes in the bud".
 
Authorities should prevent minor problems from developing into major issues, said Xi.
 
Premier Li Keqiang also wrote comments on the topic, urging authorities to deal with petitions in a serious manner and upgrade measures. "Mechanisms for solving conflicts and disputes should be improved and the rights of the people should be safeguarded." 
 

 

Source: Xinhua

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