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Wen pledges efforts to stabilize stock market
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The Chinese government will make efforts to promote the stable and sound development of its stock market, Chinese Premier Wen Jiabao said yesterday.

A healthy and sustainable capital market will ultimately be conducive to China's economic development, Wen told reporters during his visit to Vientiane, the capital of Laos where he will attend the Third Greater Mekong Subregion Summit.

He said the government has two major responsibilities. One is to maintain stable and fairly quick economic development without sharp fluctuations, and concentrate on solving the outstanding problems in economic life.

The other is to establish, through legal means, an open, fair and transparent market environment so as to protect the interests of investors and small shareholders, he said.

The Shanghai Composite Index has tumbled 17.67 percent since March and some analysts have predicted the barometer would fell below 3,000 in the absence of major concrete incentives.

The premier said that, despite some difficulties that lie ahead, "the fundamentals of China's economy are good."

He said though China's economy would be affected by the United States subprime mortgage crisis, the devaluation of the dollar and the high oil price, its "unique advantage" - the huge market - would help ensure that China's economy will continue to improve.

The premier expressed the belief that along with its economic growth, the existing problems with China's economy will be solved and its stock market will get better and better.

Wen also said that the channel for dialogue between the Chinese government and the Dalai Lama is always open.

As long as Dalai Lama abandons the claim for "Tibet independence," uses his influence to stop the violence in Tibet and recognizes both Tibet and Taiwan as inseparable parts of China, the Chinese government will resume dialogue with him, Wen said.

He said the riot that happened in Tibet this month was against Chinese laws. The looting, attacks and arsons were violent crimes that had jeopardized the fundamental interests of the Chinese people of all ethnic groups, including the Tibetan compatriots, he said.

The premier urged foreign governments and media to view this incident in an objective and impartial manner. He also said that social order had been restored in Tibet, reaffirming that "the Chinese government is capable of resolving its own problems."

Wen arrived in Vientiane on Saturday evening for a working visit to Laos and will attend the Third Greater Mekong Subregion Summit today.

(Xinhua News Agency March 31, 2008)

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