Chinese premier calls for building of an Asia of peace, openness

China

Chinese premier calls for building of an Asia of peace, openness

2024-10-10 19:48 Last Updated At：22:57

Chinese Premier Li Qiang said Thursday that China is ready to work with the Association of Southeast Asian Nations (ASEAN), Japan, South Korea and other Asian nations toward building an Asia featuring peace and tranquility, common prosperity, openness and interconnectivity.

Addressing the 27th ASEAN Plus Three Summit in the Lao capital city of Vientiane, Li said that Asian countries share a common home, common interests, common opportunities and a common pursuit of values.

China will continue working with all parties to give full play to the role of the ASEAN Plus Three Summit mechanism, support ASEAN's centrality in the regional cooperation architecture, and promote long-term, sound and stable development of the region, the premier said.

He called for sustained efforts to create a favorable environment for the region, enhance the resilience of regional development, and stimulate the vitality of innovation in the region.

He underlined the need to advance implementation of exchange and cooperation projects in digital, artificial intelligence, green, supply chain and other fields.

Other countries' leaders attending the summit said that all parties should strengthen solidarity and coordination, uphold multilateralism and their common Asian values, safeguard the multilateral trading system, and fully implement the Regional Comprehensive Economic Partnership agreement.

All parties should deepen cooperation in economy and trade, finance, digital economy, people-to-people exchanges and green economy, maintain the security, stability and resilience of production and supply chains, promote regional interconnectivity and economic integration, and jointly respond to climate change and other challenges, they said.

The summit adopted a declaration by the leaders of ASEAN, China, Japan and South Korea on strengthening the connectivity of regional supply chains.

Shanghai, Shenzhen bourses see fourth day with combined turnover topping 2 trillion yuan

2024-10-10 22:17 Last Updated At：22:37

The combined turnover of China's Shanghai and Shenzhen bourses reached 2.14 trillion yuan (about 302.5 billion U.S. dollars) on Thursday, marking the fourth consecutive trading day with volume exceeding 2 trillion yuan.

The benchmark Shanghai Composite Index was up 1.32 percent to 3,301.93 points, while the Shenzhen Component Index closed 0.82 percent lower at 10,471.08 points.

Shares related to coal, wind power and banking sectors led the gains, while the semiconductor, securities and property sectors suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 2.95 percent to close at 2,212.91 points Thursday.

China's central bank announced Thursday that it has decided to set up Securities, Funds and Insurance Companies Swap Facility (SFISF), with the initial scale of 500 billion yuan (about 71 billion U.S. dollars) for "the healthy and steady development of the capital market."

The SFISF, which is the first monetary policy tool created by China to support the capital market, will allow eligible securities, funds and insurance companies to use their assets including bonds, stock ETFs and holdings in constituents of the CSI 300 Index as collateral in exchange for highly liquid assets such as treasury bonds and central bank bills, the People's Bank of China said in a statement.

This development sparked interest in high-dividend stocks, with stocks controlled by state capital collectively rising.

More than 10 stocks including Metallurgical China (601618.SH), China Railway Group Ltd. (601390.SH) and COFCO Capital (002423.SZ) hit limit up.