A-share long-term funds up 12.5 pct: official

Long-term institutional funds' holdings of China A-share market value have risen 12.5 percent since the end of last year, signaling growing investor confidence in the country's capital market, said an official at a press conference in Beijing on Thursday.

Li Chao, vice chairman of China Securities Regulatory Commission (CSRC), revealed that since the start of this year, social security funds, pensions, insurance, and other long-term sources have made net purchases of A-shares exceeding 600 billion yuan (about 88.5 billion U.S. dollars).

Li said that investment and financing are the two fundamental functions of the capital market, while the market's role is not limited to these, they are certainly among its most important features. The two functions are complementary and mutually reinforcing, he said.

Li emphasized that in recent years, the CSRC has continuously improved the inclusiveness and adaptability of regulations, vigorously promoting the entry of long-term capital and steadily deepening comprehensive capital market reform.

He noted that the capital market is undergoing increasingly profound structural changes, the momentum of coordinated development in investment and financing is forming more rapidly, and the quality and effectiveness of service to the real economy are constantly improving.

A-share long-term funds up 12.5 pct: official

Panama declared a state of emergency on Saturday to coordinate relief efforts and assist communities affected by a powerful earthquake that struck the country Friday.

The 7.6-magnitude earthquake struck Panama at 12:56 local time Friday, with its epicenter about 39 km northwest of Tonosi in Los Santos province, damaging homes, schools, health facilities, roads and public buildings across several parts of the country.

The quake has left 27 people injured as of present, according to Panama's National Civil Protection System.

Presidency Minister Juan Carlos Orillac told a press conference at the presidential palace that the declaration would ensure government agencies remain on standby and have the resources needed to assist those affected.

Orillac said President Jose Raul Mulino had ordered the creation of a commission to coordinate relief operations, manage resources and address the needs of affected communities.

The government has also set up donation collection centers, including one at Omar Park in Panama City, while provincial government offices will serve as additional collection points, he said.

Panamanian authorities continue to assess the damage and coordinate emergency response efforts.

Panama declares state of emergency after powerful quake