Energy security

President Hu Jintao last week called for international dialogue and co-operation between energy exporters and consumers to ensure global energy security.

To do this, the international community should work together to maintain a sound political climate favourable for safeguarding the stability of energy-producing countries and regions, the Middle East in particular, Hu urged at the outreach session of the Group of Eight (G8) Summit in Saint Petersburg.

"To ensure global energy security," Hu says, "we need to develop and implement a new energy security concept that calls for mutually beneficial co-operation, diversified forms of development and common energy security."

Scaling down

The government plans to cut the number of securities brokers by half by the end of the year.

As the number of brokers is reduced, a dozen powerful players will be assisted in consolidating their strength in the opening sector.

"Only around 50 qualified brokers will survive in the market, the others will have to quit trading or  be purchased," says He Jiawu, a director of the Securities Association of China (SAC).

Currently the China Securities Regulatory Commission (CSRC) and the SAC have qualified 32 brokers, meaning around 90 firms are left competing for the last 18 available qualifications.

Brokers without qualifications will be banned from the securities trade after 2006, according to He.

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