China's National Audit Office said on Wednesday it would shift work focus from quake-relief donations to auditing the use of reconstruction fund and supplies , starting from October.
These would include the distribution, management and use of reconstruction fund, implementation of the reconstruction outline and the quality of rebuilding projects, said Yu Xiaoming, NAO deputy auditor general.
Yu repeated that no serious abuses were found in the management of quake-relief donations and it would publicize the final auditing result in October.
The auditing work had covered almost all the processes dealing with the quake-relief fund and supplies, Yu said.
The office had scrutinized 20,471 county-level administrations,5,281 city departments, 1,126 provincial units and visited 45,149 quake-affected families, she said.
The NAO said in a report early last month that 36 cases of violations were detected and all the 21 people responsible had been disciplined by the Party or had administrative punishments.
All the money and goods involved had been recovered, Yu said.
The magnitude-8.0 earthquake struck Wenchuan County, Sichuan Province, on May 12. It was feared that once the fate of all those listed as missing was clarified, the death toll would top 87,000.
The central finance has earmarked 70 billion yuan for post-quake reconstruction fund this year.
Source: Xinhua
Thursday, September 11, 2008
China-Europe Forum to ponder cooperation opportunities
The third meeting of the China-Europe Forum, which opened in Hamburg Wednesday evening, is expected to debate how to explore the opportunities of cooperation between China and Europe.
During the three-day forum, keynote speakers are expected to dwell on a number of hot issues like bilateral trade between China and the European Union , climate change and environment protection, and the prospects of China's development.
Chinese Vice Premier Zhang Dejiang and German Federal Foreign Minister Frank-Walter Steinmeier attended the opening ceremony of the forum, which is titled "The Hamburg Summit: China meets Europe."
Addressing the opening ceremony, Zhang said the Sino-European relations pose a huge potential and boast magnificent prospects.
It is in the interest of both sides to develop the all-around strategic partnership on the basis of equality between China and Europe, Zhang said, adding that it is also beneficial to world peace.
Steinmeier told the opening ceremony that he was relieved and pleased that the German-Chinese relations have been "back on track" after both sides tried to overcome various "difficulties."
He noted that the visits at and above the ministerial level have been resumed recently and Zhang's current visit itself symbolized the progress of bilateral relations.
The foreign minister also said the China-Europe Forum is an important platform for deepening dialogue between China and Europe.
The biennial China-Europe Forum, created in 2004, has turned into a vital platform for political and business leaders to exchange ideas on exploring more economic cooperation opportunities.
Source: Xinhua
During the three-day forum, keynote speakers are expected to dwell on a number of hot issues like bilateral trade between China and the European Union , climate change and environment protection, and the prospects of China's development.
Chinese Vice Premier Zhang Dejiang and German Federal Foreign Minister Frank-Walter Steinmeier attended the opening ceremony of the forum, which is titled "The Hamburg Summit: China meets Europe."
Addressing the opening ceremony, Zhang said the Sino-European relations pose a huge potential and boast magnificent prospects.
It is in the interest of both sides to develop the all-around strategic partnership on the basis of equality between China and Europe, Zhang said, adding that it is also beneficial to world peace.
Steinmeier told the opening ceremony that he was relieved and pleased that the German-Chinese relations have been "back on track" after both sides tried to overcome various "difficulties."
He noted that the visits at and above the ministerial level have been resumed recently and Zhang's current visit itself symbolized the progress of bilateral relations.
The foreign minister also said the China-Europe Forum is an important platform for deepening dialogue between China and Europe.
The biennial China-Europe Forum, created in 2004, has turned into a vital platform for political and business leaders to exchange ideas on exploring more economic cooperation opportunities.
Source: Xinhua
Chinese shares down 2.1% on growth worry, policy uncertainty
Chinese stocks slid 2.14 percent before the noon trading break as investors were gripped with renewed fears over slower economic growth.
The benchmark Shanghai Composite Index lost 46.06 percent to 2,104.70, the lowest in 21 months. The index edged up 0.23 percent on Wednesday as investors welcomed the news the consumer inflation eased to a 14 month low of 4.9 percent in August.
But the slowing exports growth last month deepened worries over the economic fundamentals, said analysts.
Investors also feared the government wouldn't relax the tightening measures in the short term for wary of a rebound in inflation and before there was a sharp economic slow-down, they said.
Investor sentiment was extremely low as the key Shanghai index has plummeted 65.6 percent from its all time high on Oct. 16.
Banks led the decline as a slow economic growth could reduce loans demand. Shanghai Pudong Development Bank plunged 5.80 percent to 16.25 yuan. Industrial and Commercial Bank of China, the nation's largest lender, retreated 2.88 percent to 4.38 yuan.
PetroChina, the most heavy-weighted stock on the Shanghai Composite Index, slumped 1.99 percent to 10.86 yuan.
Source: Xinhua
The benchmark Shanghai Composite Index lost 46.06 percent to 2,104.70, the lowest in 21 months. The index edged up 0.23 percent on Wednesday as investors welcomed the news the consumer inflation eased to a 14 month low of 4.9 percent in August.
But the slowing exports growth last month deepened worries over the economic fundamentals, said analysts.
Investors also feared the government wouldn't relax the tightening measures in the short term for wary of a rebound in inflation and before there was a sharp economic slow-down, they said.
Investor sentiment was extremely low as the key Shanghai index has plummeted 65.6 percent from its all time high on Oct. 16.
Banks led the decline as a slow economic growth could reduce loans demand. Shanghai Pudong Development Bank plunged 5.80 percent to 16.25 yuan. Industrial and Commercial Bank of China, the nation's largest lender, retreated 2.88 percent to 4.38 yuan.
PetroChina, the most heavy-weighted stock on the Shanghai Composite Index, slumped 1.99 percent to 10.86 yuan.
Source: Xinhua
Fourth Outstanding Chinese Entrepreneur Convention to be held in Beijing
After nearly a year of preparation, the fourth Outstanding Chinese Entrepreneur Convention will be held on September 25 at Great Hall of the People in Beijing. Outstanding Chinese Entrepreneur Convention is a global annual event of Chinese entrepreneurs and has been successfully held for three times.
This convention combines training, forums, investment and financing docking talks, business exchanges, business inspection, public welfare activities, and cultural activities in one, aims for better, more pragmatic and seeks to provide entrepreneurs a high-end platform of communications and abundant opportunities for cooperation as well as the most valuable network resources.
By People's Daily Online
This convention combines training, forums, investment and financing docking talks, business exchanges, business inspection, public welfare activities, and cultural activities in one, aims for better, more pragmatic and seeks to provide entrepreneurs a high-end platform of communications and abundant opportunities for cooperation as well as the most valuable network resources.
By People's Daily Online
"The Little Mermaid" is expected to come to Shanghai World Expo
In the afternoon of September 10, the Crown Prince of Denmark released to the Danish media in Copenhagen the winning design plan of 2010 Shanghai World Expo Denmark Pavilion. At the same time, Mr. Carsten Boyer Thoegersen, Consul-General of the Kingdom of Denmark in Shanghai held a press conference in his official residence. The exhibition theme of Denmark Pavilion will be "happy life, fairytale park".
Mr. Thoegersen said that this wining design team hopes to bring Denmark's most representative "The Little Mermaid" sculpture from Copenhagen seaside to Shanghai World Expo. The sculpture will be placed in the center of the pool which represents Denmark harbor in Denmark Pavilion. During six months of "The Little Mermaid's" visit to the Shanghai World Expo, sculptures by famous modern Chinese artists will be placed in her home. If the idea wins the support of Copenhagen city government, this will be the first time for "The Little Mermaid" "to travel abroad " in 95 years since her birth.
Denmark Pavilion constitutes two circular orbits, forming indoor and outdoor sections connected by a platform. Visitors to Denmark Pavilion will have the opportunity to personal experience Denmark city life.
By People's Daily Online
Mr. Thoegersen said that this wining design team hopes to bring Denmark's most representative "The Little Mermaid" sculpture from Copenhagen seaside to Shanghai World Expo. The sculpture will be placed in the center of the pool which represents Denmark harbor in Denmark Pavilion. During six months of "The Little Mermaid's" visit to the Shanghai World Expo, sculptures by famous modern Chinese artists will be placed in her home. If the idea wins the support of Copenhagen city government, this will be the first time for "The Little Mermaid" "to travel abroad " in 95 years since her birth.
Denmark Pavilion constitutes two circular orbits, forming indoor and outdoor sections connected by a platform. Visitors to Denmark Pavilion will have the opportunity to personal experience Denmark city life.
By People's Daily Online
China quality watchdog starts investigation into suspected baby milk powder
China's quality watchdog said on Thursday it was conducting investigation into samples of baby milk powder that was suspected responsible for rising number of babies suffering from kidney stones.
The Administration of Quality Supervision, Inspection and Quarantine said it started the investigation on Tuesday, when cases of infants afflicted with kidney stones were reported in northwest Gansu Province.
All the babies involved drank milk labeled with the Sanlu brand. One baby has died of kidney stones in Gansu.
Source:Xinhua
The Administration of Quality Supervision, Inspection and Quarantine said it started the investigation on Tuesday, when cases of infants afflicted with kidney stones were reported in northwest Gansu Province.
All the babies involved drank milk labeled with the Sanlu brand. One baby has died of kidney stones in Gansu.
Source:Xinhua
Coal mine gas blast kills five in SW China
Five people had been confirmed dead in a gas explosion at a coal mine in southwest China's Yunnan Province, a local government spokesman said Wednesday.
The accident happened at about 4:40 p.m. Tuesday at the Hengda Coal Mine in Yiliang County of Zhaotong City, leaving one person injured, another missing and four others trapped underground.
On Wednesday afternoon, rescuers recovered the five bodies of the missing and the trapped; 12 workers were poisoned during the rescue operation.
Four people, including a vice manager of the mine, were held accountable for the accident. They have been detained, and an investigation into the cause has begun.
The 12 injured people were in hospital, out of danger.
The fully-registered mine has an annual production capacity of 40,000 tonnes.
Source:Xinhua
The accident happened at about 4:40 p.m. Tuesday at the Hengda Coal Mine in Yiliang County of Zhaotong City, leaving one person injured, another missing and four others trapped underground.
On Wednesday afternoon, rescuers recovered the five bodies of the missing and the trapped; 12 workers were poisoned during the rescue operation.
Four people, including a vice manager of the mine, were held accountable for the accident. They have been detained, and an investigation into the cause has begun.
The 12 injured people were in hospital, out of danger.
The fully-registered mine has an annual production capacity of 40,000 tonnes.
Source:Xinhua
Chinese officials under scrutiny for energy waste
China's Supreme People's Procuratorate has promised that more efforts will be made over the next five years to combat crimes involving officials wasting energy and resources.
Prosecutors will investigate job-related crimes that damage resources and the environment, and conduct synchronized investigations with other administrative departments on project-related major accidents, Thursday's China Daily reported.
The latest measures was released by the SPP for the implementation of its 2008-12 Work Plan to Establish a System to Strength the Punishment and Prevention of Corruption state.
Despite good progress over the past three decades, endangering energy and resources, and the environment is still a serious problem, the newspaper quoted Chen Lianfu, director of the SPP's anti-dereliction of duty department, as saying.
In some areas, development projects are planned at the expense of energy and resources, and the environment, and national laws are ignored, he said.
"An important step to reverse this problem is to conduct synchronized investigations with supervision and safety inspection departments, to enable prosecutors to know about them earlier," Chen said.
"We will not let any cases of dereliction of duty or corruption go unpunished," he said.
Chen said the SPP has already sent prosecutors to help investigate the cause of the mudslide in Shanxi province that has so far left at least 128 people dead and hundreds of others trapped.
SPP official Song Hansong said crimes involving damage to energy and resources, and the environment usually require specialist knowledge, which makes them more difficult to investigate.
For example, it is not easy to attribute blame for damage caused to the air, rivers, underground water or the soil, as problems can take years to come to light, he said.
Some cases are never even noticed until they pose a health threat, he said.
"Some small firms work deep in the mountains and discharge harmful pollutants," Song said in a recent interview with China Environment News.
Between 2004 and last year, procuratorates punished 3,822 people for excessive use of energy and resources, and for causing damage to the environment, figures from the SPP show.
On Dec 5 of last year, 105 miners were killed in a gas explosion at the Ruizhiyuan coal mine in Shanxi province. Nineteen people responsible for the mine's management and safety were investigated.
Source:Xinhua
Prosecutors will investigate job-related crimes that damage resources and the environment, and conduct synchronized investigations with other administrative departments on project-related major accidents, Thursday's China Daily reported.
The latest measures was released by the SPP for the implementation of its 2008-12 Work Plan to Establish a System to Strength the Punishment and Prevention of Corruption state.
Despite good progress over the past three decades, endangering energy and resources, and the environment is still a serious problem, the newspaper quoted Chen Lianfu, director of the SPP's anti-dereliction of duty department, as saying.
In some areas, development projects are planned at the expense of energy and resources, and the environment, and national laws are ignored, he said.
"An important step to reverse this problem is to conduct synchronized investigations with supervision and safety inspection departments, to enable prosecutors to know about them earlier," Chen said.
"We will not let any cases of dereliction of duty or corruption go unpunished," he said.
Chen said the SPP has already sent prosecutors to help investigate the cause of the mudslide in Shanxi province that has so far left at least 128 people dead and hundreds of others trapped.
SPP official Song Hansong said crimes involving damage to energy and resources, and the environment usually require specialist knowledge, which makes them more difficult to investigate.
For example, it is not easy to attribute blame for damage caused to the air, rivers, underground water or the soil, as problems can take years to come to light, he said.
Some cases are never even noticed until they pose a health threat, he said.
"Some small firms work deep in the mountains and discharge harmful pollutants," Song said in a recent interview with China Environment News.
Between 2004 and last year, procuratorates punished 3,822 people for excessive use of energy and resources, and for causing damage to the environment, figures from the SPP show.
On Dec 5 of last year, 105 miners were killed in a gas explosion at the Ruizhiyuan coal mine in Shanxi province. Nineteen people responsible for the mine's management and safety were investigated.
Source:Xinhua
Dumped chemicals in Yangtze river "cleared"
All of the liquid chemical waste dumped into the Yangtze River in Hubei province on Sunday has been removed and no water plants have been contaminated, local environmental authorities said Wednesday.
A nightshift worker at a porcelain factory in the town of Lanxi, Xishui county, witnessed 14 bucketfuls of waste being tipped into the river on Sunday night, the Hubei environmental protection bureau said.
The waste was found to contain trichloroacetic acid - which releases a poisonous gas when heated - ethyl benzoate and isopropyl naphthalene, it said.
Only a small part of the chemical waste flowed into the river thanks to the swift action of local authorities, the bureau said.
However, as a precaution, a local water plant has been told to stop drawing water from the river and to use its emergency supply instead.
The water at three other plants in the counties of Qichuan and Wuxue was not affected, the bureau said.
The quality of the water downstream is being tested every two hours, it said.
Public security authorities have joined the effort to catch the perpetrator of the "vicious incident", the bureau said.
The witness was unable to provide authorities with the number plate of the vehicle, which fled quickly after dumping the waste, the bureau said.
The incident is the latest in a series of water pollution cases in Hubei.
In September of last year, the Hanjiang River, a branch of the Yangtze, was badly polluted by wastewater from a paper mill.
The incident led to the water supply in some areas being suspended for a week.
Source: China Daily
A nightshift worker at a porcelain factory in the town of Lanxi, Xishui county, witnessed 14 bucketfuls of waste being tipped into the river on Sunday night, the Hubei environmental protection bureau said.
The waste was found to contain trichloroacetic acid - which releases a poisonous gas when heated - ethyl benzoate and isopropyl naphthalene, it said.
Only a small part of the chemical waste flowed into the river thanks to the swift action of local authorities, the bureau said.
However, as a precaution, a local water plant has been told to stop drawing water from the river and to use its emergency supply instead.
The water at three other plants in the counties of Qichuan and Wuxue was not affected, the bureau said.
The quality of the water downstream is being tested every two hours, it said.
Public security authorities have joined the effort to catch the perpetrator of the "vicious incident", the bureau said.
The witness was unable to provide authorities with the number plate of the vehicle, which fled quickly after dumping the waste, the bureau said.
The incident is the latest in a series of water pollution cases in Hubei.
In September of last year, the Hanjiang River, a branch of the Yangtze, was badly polluted by wastewater from a paper mill.
The incident led to the water supply in some areas being suspended for a week.
Source: China Daily
Abu Dhabi explores China's outbound travel market
In view of the huge potential of China's outbound travel market, Chinese tourists interests for cultural tourism and the substantial air links between Beijing and Abu Dhabi, the Abu Dhabi Tourism Authority recently set up tourism promotion office in China, and established closer ties with more than 900 Chinese travel agencies to build destination awareness.
According to the ADTA, the Sa'adiyat Island, a natural island lying 500 meters off the coast of Abu Dhabi, is to be home to the world's largest concentration of premier cultural institutions. The five major museums, art galleries and a performing arts centre will be built here, including the Guggenheim Abu Dhabi Museum and the Louvre Abu Dhabi 鈥�the only Louvre outside of France. Both are expected to open in 2012/2013.
In addition, the Abu Dhabi Tourism Authority is working to let more Chinese businessmen to find tremendous business opportunities through participate in the Abu Dhabi National Exhibition Center's industry exhibition.
By People's Daily Online
According to the ADTA, the Sa'adiyat Island, a natural island lying 500 meters off the coast of Abu Dhabi, is to be home to the world's largest concentration of premier cultural institutions. The five major museums, art galleries and a performing arts centre will be built here, including the Guggenheim Abu Dhabi Museum and the Louvre Abu Dhabi 鈥�the only Louvre outside of France. Both are expected to open in 2012/2013.
In addition, the Abu Dhabi Tourism Authority is working to let more Chinese businessmen to find tremendous business opportunities through participate in the Abu Dhabi National Exhibition Center's industry exhibition.
By People's Daily Online
Official dismisses claims of "hundreds missing" in north China mud-rock flow
A senior official in north China on Thursday moved to quash Internet claims that "hundreds" of people are missing after a mud-rock flow that has officially left 128 dead so far.
Shanxi Provincial Government secretary-general Wang Qingxian said the number of people missing in the disaster was yet to be confirmed, and dismissed the Internet claims as "mere speculation".
"The specific figure of the people missing in the disaster has not been established yet," said Wang at a news conference. "We are still evaluating the situation."
Wang also promised timely updates of the casualty numbers with "openness and transparency".
He said rescuers had sped up their work with "all-out efforts". "The search, if the weather conditions allow, is expected to finish in three to five days."
The disaster happened when the bank of a pond holding waste oredregs of an unlicensed mine burst, leaving 128 dead and 35 injured as of Wednesday.
Some reports said hundreds of people were feared to have been buried underneath the mud, but the local government has released no figures concerning the number of missing people.
Wang said the mine was purchased and transferred to a man named Zhang Peiliang when the local government auctioned it off in 2005.
But Zhang did not apply for new licenses after its safety production license was suspended in 2006 and the mining license expired in 2007.
After the pond breached on Sept. 8, an area of 30.2 hectares was covered by the mud. The mud-rock flow damaged buildings, trade markets and some residences lying downstream.
Source:Xinhua
Shanxi Provincial Government secretary-general Wang Qingxian said the number of people missing in the disaster was yet to be confirmed, and dismissed the Internet claims as "mere speculation".
"The specific figure of the people missing in the disaster has not been established yet," said Wang at a news conference. "We are still evaluating the situation."
Wang also promised timely updates of the casualty numbers with "openness and transparency".
He said rescuers had sped up their work with "all-out efforts". "The search, if the weather conditions allow, is expected to finish in three to five days."
The disaster happened when the bank of a pond holding waste oredregs of an unlicensed mine burst, leaving 128 dead and 35 injured as of Wednesday.
Some reports said hundreds of people were feared to have been buried underneath the mud, but the local government has released no figures concerning the number of missing people.
Wang said the mine was purchased and transferred to a man named Zhang Peiliang when the local government auctioned it off in 2005.
But Zhang did not apply for new licenses after its safety production license was suspended in 2006 and the mining license expired in 2007.
After the pond breached on Sept. 8, an area of 30.2 hectares was covered by the mud. The mud-rock flow damaged buildings, trade markets and some residences lying downstream.
Source:Xinhua
China's environment watchdog warns leaders of penalties over pollution failures
China's environment watchdog has warned local government leaders that they face penalties over failures to clean up the country's major rivers and lakes.
The Ministry of Environment Protection on Wednesday put the leaders of 21 provincial-level governments on notice that they would be held personally accountable for the continued pollution of seven main waterways.
The ministry announced the measure at a national meeting on water pollution prevention in east China's Jinan, which was attended by officials from the National Development and Reform Commission and the ministries of supervision, finance, housing and urban-rural development.
Environmental Protection Minister Zhou Shengxian told the meeting that the new measure would take effect early next year, although he did not reveal what penalties would be handed out.
The 21 governments had given the ministry annual targets in their plans for pollution prevention in the basins of the Huaihe, Haihe, Liaohe, Songhua rivers, the middle and upper streams of the Yangtze and Yellow rivers as well Chaohu and Dianchi lakes.
The plans were based on a five-year national guideline to protect the water resources.
Zhou said the ministry would hold specific officials responsible for any failures to meet the targets, but he did not say which provinces missed their goals for the past two years.
"Through the evaluation system, the ministry will reinforce its supervision of local government implementation of the state's environmental protection objectives," said Zhang Bo, deputy director of Shandong Provincial Bureau of Environmental Protection, after the meeting.
He said the ministry also required the local governments to publish their annual goals on pollution control for public scrutiny.
The Chinese government has set a target of reducing major water pollutant emissions by 10 percent from 2005 levels by 2010.
Zhou told the meeting that emissions had fallen by only 2.3 percent for the past two years, meaning more reductions totaling 7.7 percent were required in less than three years.
He said local environmental watchdogs nationwide reported water pollution cases every other day, and the number had increased by 30 percent in the first half year from the same period of last year. He did not give the number of cases for either six-month period.
He reiterated that the reduction in pollution discharges to water bodies was the fundamental to improving the environment.
The ministry was established on March 27 from its predecessor, the State Environmental Protection Administration. It completed an expansion in August, which was reported to be aimed at reinforcing its role in the prevention and control of water pollution.
In August, the ministry submitted a proposal to the National People's Congress, China's top law-making body, seeking powers to detain for up to 15 days people responsible for illegally discharging dangerous chemicals into water and those responsible for discharges of poisonous, radioactive and erosive substances, or pathogens or illegally disposing of dangerous substances should be held responsible.
The proposal did not specify penalties, but said they should be determined according to the severity of the incident.
According to the Chinese law, only police authorities above county level have the power to exercise administrative detention, which is different from criminal arrest and lasts from one to 15 days. The punishment also applies to leaders found guilty of dereliction of duty.
Staff and senior officials environmental agencies that fail to transfer those suspected of water pollution could face warnings, demerits, demotions, or dismissal, according to the proposal.
Zhou said on Sept. 1 that 1.6 million cases of water pollution had been reported through a government hotline since the beginning of 2003.
Source:Xinhua
The Ministry of Environment Protection on Wednesday put the leaders of 21 provincial-level governments on notice that they would be held personally accountable for the continued pollution of seven main waterways.
The ministry announced the measure at a national meeting on water pollution prevention in east China's Jinan, which was attended by officials from the National Development and Reform Commission and the ministries of supervision, finance, housing and urban-rural development.
Environmental Protection Minister Zhou Shengxian told the meeting that the new measure would take effect early next year, although he did not reveal what penalties would be handed out.
The 21 governments had given the ministry annual targets in their plans for pollution prevention in the basins of the Huaihe, Haihe, Liaohe, Songhua rivers, the middle and upper streams of the Yangtze and Yellow rivers as well Chaohu and Dianchi lakes.
The plans were based on a five-year national guideline to protect the water resources.
Zhou said the ministry would hold specific officials responsible for any failures to meet the targets, but he did not say which provinces missed their goals for the past two years.
"Through the evaluation system, the ministry will reinforce its supervision of local government implementation of the state's environmental protection objectives," said Zhang Bo, deputy director of Shandong Provincial Bureau of Environmental Protection, after the meeting.
He said the ministry also required the local governments to publish their annual goals on pollution control for public scrutiny.
The Chinese government has set a target of reducing major water pollutant emissions by 10 percent from 2005 levels by 2010.
Zhou told the meeting that emissions had fallen by only 2.3 percent for the past two years, meaning more reductions totaling 7.7 percent were required in less than three years.
He said local environmental watchdogs nationwide reported water pollution cases every other day, and the number had increased by 30 percent in the first half year from the same period of last year. He did not give the number of cases for either six-month period.
He reiterated that the reduction in pollution discharges to water bodies was the fundamental to improving the environment.
The ministry was established on March 27 from its predecessor, the State Environmental Protection Administration. It completed an expansion in August, which was reported to be aimed at reinforcing its role in the prevention and control of water pollution.
In August, the ministry submitted a proposal to the National People's Congress, China's top law-making body, seeking powers to detain for up to 15 days people responsible for illegally discharging dangerous chemicals into water and those responsible for discharges of poisonous, radioactive and erosive substances, or pathogens or illegally disposing of dangerous substances should be held responsible.
The proposal did not specify penalties, but said they should be determined according to the severity of the incident.
According to the Chinese law, only police authorities above county level have the power to exercise administrative detention, which is different from criminal arrest and lasts from one to 15 days. The punishment also applies to leaders found guilty of dereliction of duty.
Staff and senior officials environmental agencies that fail to transfer those suspected of water pollution could face warnings, demerits, demotions, or dismissal, according to the proposal.
Zhou said on Sept. 1 that 1.6 million cases of water pollution had been reported through a government hotline since the beginning of 2003.
Source:Xinhua
Man burns himself to death in Shanghai
A man, whose identity remains unknown, died after setting himself ablaze in Shanghai's historic riverside Bund area at around 11 a.m. on Thursday, local police and witnesses said.
The man reportedly poured gas over himself to spark the blaze on a square named after Chen Yi, a late marshal of the Chinese People's Liberation Army beside the Huangpu River.
"I didn't see how it started, but suddenly spotted a flame that was moving about near Chen Yi's statue," said a witness on condition of anonymity. "It was a horrible scene."
Fire fighters were sent in immediately and the blaze was put out in about 5 minutes, he said. "An electric bike was also burned-- I guess it belonged to that man."
The square was packed with people when the self-immolation occurred, but nobody realized what was going on until it was too late. No one at the site saw what the man looked like or how old he was.
When Xinhua reporters arrived at the site in the early afternoon, the corpse had been removed by police and the ground washed, but the air still smelt of gasoline.
Shanghai police said they were investigating the identity of the man and the cause of the suicide.
The Bund is a big draw for tourists as well as Shanghai residents.
Source:Xinhua
The man reportedly poured gas over himself to spark the blaze on a square named after Chen Yi, a late marshal of the Chinese People's Liberation Army beside the Huangpu River.
"I didn't see how it started, but suddenly spotted a flame that was moving about near Chen Yi's statue," said a witness on condition of anonymity. "It was a horrible scene."
Fire fighters were sent in immediately and the blaze was put out in about 5 minutes, he said. "An electric bike was also burned-- I guess it belonged to that man."
The square was packed with people when the self-immolation occurred, but nobody realized what was going on until it was too late. No one at the site saw what the man looked like or how old he was.
When Xinhua reporters arrived at the site in the early afternoon, the corpse had been removed by police and the ground washed, but the air still smelt of gasoline.
Shanghai police said they were investigating the identity of the man and the cause of the suicide.
The Bund is a big draw for tourists as well as Shanghai residents.
Source:Xinhua
Outsourcing service, new engine of China's economy
Outsourcing service will be the new engine of China's economy, vice Minister of Commerce Ma Xiuhong said in a seminar for China's Outsource Service Park at Xiamen recently.
Outsourcing service has been another important strategic choice of developing countries to participate in international competition, Ma said.
The preliminary statistics from January to August shows that there were 2,545 outsourcing service companies in China, and 1,907 of them have gained various international certifications; over 390,000 people are doing this job, and nearly 170,000 graduates of universities and colleges are taking the training; the total value of service outsourcing contracts was over 4.8 billion U.S. dollar, a 91.45% increase year-on-year.
By People's Daily Online
Outsourcing service has been another important strategic choice of developing countries to participate in international competition, Ma said.
The preliminary statistics from January to August shows that there were 2,545 outsourcing service companies in China, and 1,907 of them have gained various international certifications; over 390,000 people are doing this job, and nearly 170,000 graduates of universities and colleges are taking the training; the total value of service outsourcing contracts was over 4.8 billion U.S. dollar, a 91.45% increase year-on-year.
By People's Daily Online
Milk powder sent for testing after dozens of babies get sick
The number of sick babies in China continues to grow as at least seven provinces are now reporting cases of kidney stones in infants.
National food and health authorities are trying to find out if all the babies drank the same brand of milk powder. Samples had been sent to a state-run lab for analysis.
According to Gansu Provincial Health Department spokesman, YangJingke, at least 16 babies drank formula labeled Sanlu, a popular dairy brand. However, he said analysis and investigations were underway and there was no evidence at the moment that the milk powder caused kidney stones.
At least one baby in the northwest province had died as a result of kidney stones. Yang said he was unsure if the infant drank the same milk powder.
So far this year, the health department had seen 59 kidney stone cases in infants. Most of them live in rural areas of the province. There were no such cases in 2006 or 2007.
The department was made aware of the spreading problem on July 16 after a local hospital reported seeing 16 babies with kidney stones. All those babies drank the same brand of formula.
Similar numbers are popping up around the country.
The Modern Express, a newspaper based in the eastern Jiangsu Province, told Xinhua, babies also had kidney stones in Jiangsu, Ningxia and Shaanxi.
The Oriental Morning Post, based in Shanghai, reported infants in the eastern Shandong and Anhui provinces as well as Hunan, in central China, were also inflicted.
The No.1 Affiliated Hospital of Xi'an Jiaotong University in the capital of Shaanxi Province told Xinhua on Thursday they had recorded six such cases in the past two months but all the infants had been cured and discharged from hospital.
Yin Aiping, a doctor of the Xi'an hospital, said the infants, aging from six months to 20 months from Shaanxi, Gansu and Ningxia,drank the Sanlu milk powder.
No official figures have been released regarding just how many babies could be sick across the country.
Parents of the affected babies said they bought the milk powder at much cheaper prices than usual.
A spokesperson of Sanlu Group said more than 1,000 employees were conducting their own investigations throughout China. The group was waiting for results from lab analysis, he added.
This is not the first time Sanlu has been in the headlines for a food quality scandal.
Thirteen infants died of malnutrition in 2004 in east Anhui Province after consuming substandard milk powder. Illegal manufacturers counterfeited products of Sanlu, along with other major dairy companies, which caused 171 babies to be hospitalized.
Source:Xinhua
National food and health authorities are trying to find out if all the babies drank the same brand of milk powder. Samples had been sent to a state-run lab for analysis.
According to Gansu Provincial Health Department spokesman, YangJingke, at least 16 babies drank formula labeled Sanlu, a popular dairy brand. However, he said analysis and investigations were underway and there was no evidence at the moment that the milk powder caused kidney stones.
At least one baby in the northwest province had died as a result of kidney stones. Yang said he was unsure if the infant drank the same milk powder.
So far this year, the health department had seen 59 kidney stone cases in infants. Most of them live in rural areas of the province. There were no such cases in 2006 or 2007.
The department was made aware of the spreading problem on July 16 after a local hospital reported seeing 16 babies with kidney stones. All those babies drank the same brand of formula.
Similar numbers are popping up around the country.
The Modern Express, a newspaper based in the eastern Jiangsu Province, told Xinhua, babies also had kidney stones in Jiangsu, Ningxia and Shaanxi.
The Oriental Morning Post, based in Shanghai, reported infants in the eastern Shandong and Anhui provinces as well as Hunan, in central China, were also inflicted.
The No.1 Affiliated Hospital of Xi'an Jiaotong University in the capital of Shaanxi Province told Xinhua on Thursday they had recorded six such cases in the past two months but all the infants had been cured and discharged from hospital.
Yin Aiping, a doctor of the Xi'an hospital, said the infants, aging from six months to 20 months from Shaanxi, Gansu and Ningxia,drank the Sanlu milk powder.
No official figures have been released regarding just how many babies could be sick across the country.
Parents of the affected babies said they bought the milk powder at much cheaper prices than usual.
A spokesperson of Sanlu Group said more than 1,000 employees were conducting their own investigations throughout China. The group was waiting for results from lab analysis, he added.
This is not the first time Sanlu has been in the headlines for a food quality scandal.
Thirteen infants died of malnutrition in 2004 in east Anhui Province after consuming substandard milk powder. Illegal manufacturers counterfeited products of Sanlu, along with other major dairy companies, which caused 171 babies to be hospitalized.
Source:Xinhua
China's trade surplus decreases in the first 8 months
According to the statistics from the customs, China's total export-import volume from January to August this year was U.S. $ 1.724 trillion, which is 25.7% more than the same period of last year.
The export volume was U.S. $ 937.69 billion, up 22.4%; while the import volume was U.S. $ 786 billion, up 30%. The total trade surplus was U.S. $ 152 billion, down by 6.2%, or U.S. $ 10.08 billion, than last same period.
The statistics shows that export-import of general trade increased rapidly in the first 8 months this year. Its total value was U.S. $ 840 billion, up 36.2% year-on-year; while the increasing rate of processing trade was slow.
The EU is still the biggest trade partner of China. The bilateral trade volume of Europe and China was U.S. $ 283 billion, up 26.9%, which is 13.6% and 8.5% higher than that of Sino-America and Sino-Japan in the same period. Among the top ten trade partners of China, India ranks the 9th, however, it enjoys a bigger increasing rate than the other nine countries.
By People's Daily Online
The export volume was U.S. $ 937.69 billion, up 22.4%; while the import volume was U.S. $ 786 billion, up 30%. The total trade surplus was U.S. $ 152 billion, down by 6.2%, or U.S. $ 10.08 billion, than last same period.
The statistics shows that export-import of general trade increased rapidly in the first 8 months this year. Its total value was U.S. $ 840 billion, up 36.2% year-on-year; while the increasing rate of processing trade was slow.
The EU is still the biggest trade partner of China. The bilateral trade volume of Europe and China was U.S. $ 283 billion, up 26.9%, which is 13.6% and 8.5% higher than that of Sino-America and Sino-Japan in the same period. Among the top ten trade partners of China, India ranks the 9th, however, it enjoys a bigger increasing rate than the other nine countries.
By People's Daily Online
Marine emergency rescue drill for Shenzhou-7 spacecraft launched
A maritime emergency rescue drill for the launch of Shenzhou-7 spacecraft was carried out in the Yangtze River mouth on September 10.
According to Song Jiahui, director of the Rescue and Salvage Bureau of the Ministry of Transport, the Bureau will bear the marine emergency rescue mission for Shenzhou-7 spacecraft.
Zhang Jianqi, a senior official with the country's space program said that the drill aimed to rescue the astronauts in case the re-entry capsule fell into sea after any accidents happened during the launch.
By People's Daily Online
According to Song Jiahui, director of the Rescue and Salvage Bureau of the Ministry of Transport, the Bureau will bear the marine emergency rescue mission for Shenzhou-7 spacecraft.
Zhang Jianqi, a senior official with the country's space program said that the drill aimed to rescue the astronauts in case the re-entry capsule fell into sea after any accidents happened during the launch.
By People's Daily Online
Education for disabled draws unusual attention amid Paralympic fervor
As China is hosting the Beijing 2008 Paralympic Games, education for the country's 83 million disabled, believed to be a key to their career success and integration into the society, has received unprecedented attention from both the state leaders and general public.
When the country's 24th Teachers' Day fell on Wednesday, which was also the fourth day of the Beijing Paralympic competition, Chinese President Hu Jintao visited a deaf-mutes school in central China's Henan Province, praising the teachers there for bringing sunshine and hope to the disabled children with their love and hard work.
Chinese President Hu Jintao shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10.
"The cause of education for disabled people deserved respect from the whole society," he said.
In the classrooms, the president told the students about the significance of the ongoing Beijing Paralympics, and encouraged them to build themselves a bright future with the help of the society and the teachers.
On the same day, an official disclosed that China has decided to allocate 600 million yuan to build 190 schools for the disabled this year.
The fund is 10 times the overall government subsidy for education for the disabled in the ten years from 1991 to 2001, according to Sun Xiande, deputy director-general of the China Disabled Persons' Federation.
Since the beginning of its reform and opening-up drive 30 years ago, China has remarkably improved its education system for people with disabilities, which covers fundamental education, vocational training, and higher education on and off campus.
By 2007, there were 1,667 schools dedicated to vision and hearing impaired and intellectually disabled children, while other schools also opened 2,803 classes exclusively for those kids, according to statistics from the China Disabled Persons' Federation.
A total of 580,000 disabled students were enrolled in 2007, compared with a mere 47,200 in 1986, said the federation.
And China's law on the protection of disabled persons has guaranteed their access to ordinary schools, including universities and colleges.
The amendment to the law, which took effect on July 1 this year, stipulated that local governments should provide free textbooks for disabled students during their nine-year compulsory education and also subsidize disabled students in high schools and colleges.
By 2007, nearly 20 provinces, autonomous regions and municipalities had established local subsidy schemes for disabled college students.
Guan Yan, who works as a volunteer of language service during the Beijing Paralympics, has benefited from the development of education for the disabled.
The 36-year-old started to use a wheelchair at age 14 due to spondylosis. At first, she learned English by herself at home. In 1994, she went to study in the Dalian University of Foreign Languages, and two years later was accepted by the Beijing Foreign Studies University. She is now pursuing a master's degree in the Renmin University of China.
However, not every disabled person was as lucky as Guan.
Born in 1972 in north China's Hebei Province, Zhao Erbiao was disabled by poliomyelitis when he was just eight months old. With the help of crutches, he finished junior middle school but didn't continue his education.
"At that time, I believed I was mainly discouraged by the multi-storey building in the high school. The primary and junior schools I attended only had single-storey buildings," he said.
But now he found out that his own inferiority complex might have been the true reason behind his drop-out.
"I think I lost my faith in the future when some people told me that no college would accept me even if I could pass the admission examination," he admitted.
According to the China Disabled Persons' Federation, nearly 20,000 disabled students were studying in higher education institutions in 2007, a negligible number as against the country's total disabled population.
But in 2007 alone, 5,234 disabled persons were admitted to ordinary colleges and another 1,086 entered "special colleges" particularly for the disabled.
Jiang Xintian, a hearing impaired girl who won the Media Focus prize in the Miss China Universe pageant in 2003, said there is still a long way to go for China's education for the disabled.
"I hope the government and society will continuously push forward education for the disabled, and all members of the disabled community will cherish every opportunity to advance themselves," she said.
Source:Xinhua
When the country's 24th Teachers' Day fell on Wednesday, which was also the fourth day of the Beijing Paralympic competition, Chinese President Hu Jintao visited a deaf-mutes school in central China's Henan Province, praising the teachers there for bringing sunshine and hope to the disabled children with their love and hard work.
Chinese President Hu Jintao shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10.
"The cause of education for disabled people deserved respect from the whole society," he said.
In the classrooms, the president told the students about the significance of the ongoing Beijing Paralympics, and encouraged them to build themselves a bright future with the help of the society and the teachers.
On the same day, an official disclosed that China has decided to allocate 600 million yuan to build 190 schools for the disabled this year.
The fund is 10 times the overall government subsidy for education for the disabled in the ten years from 1991 to 2001, according to Sun Xiande, deputy director-general of the China Disabled Persons' Federation.
Since the beginning of its reform and opening-up drive 30 years ago, China has remarkably improved its education system for people with disabilities, which covers fundamental education, vocational training, and higher education on and off campus.
By 2007, there were 1,667 schools dedicated to vision and hearing impaired and intellectually disabled children, while other schools also opened 2,803 classes exclusively for those kids, according to statistics from the China Disabled Persons' Federation.
A total of 580,000 disabled students were enrolled in 2007, compared with a mere 47,200 in 1986, said the federation.
And China's law on the protection of disabled persons has guaranteed their access to ordinary schools, including universities and colleges.
The amendment to the law, which took effect on July 1 this year, stipulated that local governments should provide free textbooks for disabled students during their nine-year compulsory education and also subsidize disabled students in high schools and colleges.
By 2007, nearly 20 provinces, autonomous regions and municipalities had established local subsidy schemes for disabled college students.
Guan Yan, who works as a volunteer of language service during the Beijing Paralympics, has benefited from the development of education for the disabled.
The 36-year-old started to use a wheelchair at age 14 due to spondylosis. At first, she learned English by herself at home. In 1994, she went to study in the Dalian University of Foreign Languages, and two years later was accepted by the Beijing Foreign Studies University. She is now pursuing a master's degree in the Renmin University of China.
However, not every disabled person was as lucky as Guan.
Born in 1972 in north China's Hebei Province, Zhao Erbiao was disabled by poliomyelitis when he was just eight months old. With the help of crutches, he finished junior middle school but didn't continue his education.
"At that time, I believed I was mainly discouraged by the multi-storey building in the high school. The primary and junior schools I attended only had single-storey buildings," he said.
But now he found out that his own inferiority complex might have been the true reason behind his drop-out.
"I think I lost my faith in the future when some people told me that no college would accept me even if I could pass the admission examination," he admitted.
According to the China Disabled Persons' Federation, nearly 20,000 disabled students were studying in higher education institutions in 2007, a negligible number as against the country's total disabled population.
But in 2007 alone, 5,234 disabled persons were admitted to ordinary colleges and another 1,086 entered "special colleges" particularly for the disabled.
Jiang Xintian, a hearing impaired girl who won the Media Focus prize in the Miss China Universe pageant in 2003, said there is still a long way to go for China's education for the disabled.
"I hope the government and society will continuously push forward education for the disabled, and all members of the disabled community will cherish every opportunity to advance themselves," she said.
Source:Xinhua
China urges Japan to safeguard rights of its workers
China on Thursday urged Japan to safeguard the legitimate rights of its workers by properly and fairly handling the accusation that six Chinese women had been enslaved by a Japanese company that employed them.
Foreign Ministry spokeswoman Jiang Yu made the remarks at a regular briefing here, confirming Chinese officials had expressed grave concern to local police and labor protection supervision departments.
"The Chinese embassy to Japan has sent officials to meet with the Japanese employers and relevant departments. They have visited the women workers and expressed sympathy and solicitude."
According to media reports, the six women workers from central China's Hubei Province suffered beatings in Japan and were forced to return to China after protesting to their employer over "unreasonable" pay.
Three workers were injured while another three returned to China. The issue aroused much attention in both countries and relevant departments of the two nations had started an investigation.
Jiang urged the relevant Japanese departments to make an investigation promptly, to handle the issue properly and fairly, and safeguard the legitimate rights of the Chinese workers.
The Foreign Ministry and embassy would continue to pay close attention to the issue and then take proper measures, she added.
Source:Xinhua
Foreign Ministry spokeswoman Jiang Yu made the remarks at a regular briefing here, confirming Chinese officials had expressed grave concern to local police and labor protection supervision departments.
"The Chinese embassy to Japan has sent officials to meet with the Japanese employers and relevant departments. They have visited the women workers and expressed sympathy and solicitude."
According to media reports, the six women workers from central China's Hubei Province suffered beatings in Japan and were forced to return to China after protesting to their employer over "unreasonable" pay.
Three workers were injured while another three returned to China. The issue aroused much attention in both countries and relevant departments of the two nations had started an investigation.
Jiang urged the relevant Japanese departments to make an investigation promptly, to handle the issue properly and fairly, and safeguard the legitimate rights of the Chinese workers.
The Foreign Ministry and embassy would continue to pay close attention to the issue and then take proper measures, she added.
Source:Xinhua
China thanks foreign nations for their support for Beijing Olympic Games security
China on Thursday thanked all the foreign countries who gave their support and cooperation in the work of ensuring the safety of the Beijing Olympic Games.
"China thanks all the foreign governments for their great support and cooperation in guaranteeing the Beijing Olympic Games' safety," said Foreign Ministry spokeswoman Jiang Yu at a regular press conference.
She said China is ready to continue to develop anti-terrorism cooperation with all relevant countries based on the principle of equal and reciprocal cooperation, to jointly guard against and strike at terrorism and to safeguard world security and stability.
She said China believed that the current international anti-terrorism situation is still grave and frequent terrorist attacks have posed serious threats to security and stability in many nations.
She said China has always been opposed to terrorism of any form and actively advocated the strengthening of international anti-terrorism cooperation. "China holds that the United Nations should take a leading role, and is opposed to double standards on anti-terrorism and to connecting terrorism with a particular nation or religion," she added.
Source:Xinhua
"China thanks all the foreign governments for their great support and cooperation in guaranteeing the Beijing Olympic Games' safety," said Foreign Ministry spokeswoman Jiang Yu at a regular press conference.
She said China is ready to continue to develop anti-terrorism cooperation with all relevant countries based on the principle of equal and reciprocal cooperation, to jointly guard against and strike at terrorism and to safeguard world security and stability.
She said China believed that the current international anti-terrorism situation is still grave and frequent terrorist attacks have posed serious threats to security and stability in many nations.
She said China has always been opposed to terrorism of any form and actively advocated the strengthening of international anti-terrorism cooperation. "China holds that the United Nations should take a leading role, and is opposed to double standards on anti-terrorism and to connecting terrorism with a particular nation or religion," she added.
Source:Xinhua
New Zealand speaker meets China's NPC vice chairwoman on bilateral issues
New Zealand Parliament Speaker Margaret Wislon met here on Thursday with Yan Junqi, vice chairwoman of the Standing Committee of China's National People's Congress to exchanged views on bilateral issues.
Yan said the Chinese government attaches importance to further developing bilateral ties and is ready to conduct dialogue, strengthen cooperation with New Zealand.
She also thanked New Zealand's support and help to China's earthquake relief efforts and the hosting of Beijing Olympics and Paralymics.
Wislon spoke highly of the importance of parliamentary exchanges of visits and congratulated China on its huge success in hosting Beijing Olympics. She said the Beijing Olympics will help the world to get to know and better understand a new China.
Yan also met with Rick Barker, the New Zealand internal affairs minister, earlier in the day.
The Chinese NPC delegation, who arrived in New Zealand on Monday for an official goodwill visit, will also visit Australia and Samoa.
Source:Xinhua
Yan said the Chinese government attaches importance to further developing bilateral ties and is ready to conduct dialogue, strengthen cooperation with New Zealand.
She also thanked New Zealand's support and help to China's earthquake relief efforts and the hosting of Beijing Olympics and Paralymics.
Wislon spoke highly of the importance of parliamentary exchanges of visits and congratulated China on its huge success in hosting Beijing Olympics. She said the Beijing Olympics will help the world to get to know and better understand a new China.
Yan also met with Rick Barker, the New Zealand internal affairs minister, earlier in the day.
The Chinese NPC delegation, who arrived in New Zealand on Monday for an official goodwill visit, will also visit Australia and Samoa.
Source:Xinhua
Famous China mountain city to open first subway line by 2011
Chongqing in southwest China will open its first subway line by 2011, local authorities said on Thursday.
A 36.08 km line with 22 stops will be built in the downtown area of the mountainous municipality at a cost of 12.5 billion yuan , according to its urban planning bureau.
Construction on the first phase of the line, about 16.5 km in length, began last year. It was expected to be completed and operational by 2011.
Workers will start building the remaining part of the line next year, but it was not clear when it will finish.
Chongqing is one of four municipalities in China directly under the jurisdiction of the central government. The other three are Beijing, Shanghai and Tianjin. Chongqing is the largest with an area of more than 82,000 sq km.
The city currently has a 19.15 km of light rail in operation. Another light rail is under construction and is expected to be open by 2010.
As a well-known "mountain city" in China, Chongqing has lots of narrow and zigzagging roads with slopes, slowing traffic flow. Citizens have been longing for a subway system for years.
Source:Xinhua
A 36.08 km line with 22 stops will be built in the downtown area of the mountainous municipality at a cost of 12.5 billion yuan , according to its urban planning bureau.
Construction on the first phase of the line, about 16.5 km in length, began last year. It was expected to be completed and operational by 2011.
Workers will start building the remaining part of the line next year, but it was not clear when it will finish.
Chongqing is one of four municipalities in China directly under the jurisdiction of the central government. The other three are Beijing, Shanghai and Tianjin. Chongqing is the largest with an area of more than 82,000 sq km.
The city currently has a 19.15 km of light rail in operation. Another light rail is under construction and is expected to be open by 2010.
As a well-known "mountain city" in China, Chongqing has lots of narrow and zigzagging roads with slopes, slowing traffic flow. Citizens have been longing for a subway system for years.
Source:Xinhua
China completes building of all temporary houses needed in May quake zone
Relief workers had finished building all the 677,131 temporary houses needed in the areas ravaged by the May 12 earthquake as of Wednesday, according to a statement released by the State Council Information Office on Thursday.
The death toll from the Magnitude 8.0 earthquake in Sichuan Province and its neighboring region remained unchanged at 69,226 as of Thursday noon.
The number of people listed as missing and injured still stood at 17,923 and 374,643 respectively.
As of Thursday noon, a total of 1,486,407 survivors had been relocated.
Among the 96,544 who had been hospitalized for injuries, 93,361have been discharged, the statement said.
Government spending on relief and reconstruction had reached 67.55 billion yuan , including 60.09 billion yuan from the central budget and 7.47 billion yuan from the local budget.
According to the Ministry of Civil Affairs, domestic and foreign donations had exceeded 59.35 billion yuan in cash and goods by Thursday noon. Of this, 26.77 billion yuan had been forwarded to quake-hit areas.
About 1.58 million tents, 4.87 million quilts, 14.1 million garments, 3.78 million tonnes of fuel and 8.07 million tonnes of coal had been sent to the quake-hit areas, it said.
Between Monday noon and Thursday noon, 569 aftershocks at or below magnitude 3.9 and one between 4.0 to 4.9 magnitude were monitored in the quake zone, while no aftershock at or above 5.0 magnitude were reported, according to the China Earthquake Administration. A total of 29,053 aftershocks had been detected since May 12.
The statement said 458,872 tonnes of grain and 11,944 tonnes of edible oil have been allocated to the quake zones from central reserves as of Wednesday. It also said that 128,114 of the 138,960businesses damaged had reopened.
Of the 53,295 km of ruptured road, 52,960 km had been restored as of Thursday noon, according to the statement.
As of Thursday noon, 200,839 survivors had found jobs outside of the area, while another 828,931 were employed in their home towns.
Source:Xinhua
The death toll from the Magnitude 8.0 earthquake in Sichuan Province and its neighboring region remained unchanged at 69,226 as of Thursday noon.
The number of people listed as missing and injured still stood at 17,923 and 374,643 respectively.
As of Thursday noon, a total of 1,486,407 survivors had been relocated.
Among the 96,544 who had been hospitalized for injuries, 93,361have been discharged, the statement said.
Government spending on relief and reconstruction had reached 67.55 billion yuan , including 60.09 billion yuan from the central budget and 7.47 billion yuan from the local budget.
According to the Ministry of Civil Affairs, domestic and foreign donations had exceeded 59.35 billion yuan in cash and goods by Thursday noon. Of this, 26.77 billion yuan had been forwarded to quake-hit areas.
About 1.58 million tents, 4.87 million quilts, 14.1 million garments, 3.78 million tonnes of fuel and 8.07 million tonnes of coal had been sent to the quake-hit areas, it said.
Between Monday noon and Thursday noon, 569 aftershocks at or below magnitude 3.9 and one between 4.0 to 4.9 magnitude were monitored in the quake zone, while no aftershock at or above 5.0 magnitude were reported, according to the China Earthquake Administration. A total of 29,053 aftershocks had been detected since May 12.
The statement said 458,872 tonnes of grain and 11,944 tonnes of edible oil have been allocated to the quake zones from central reserves as of Wednesday. It also said that 128,114 of the 138,960businesses damaged had reopened.
Of the 53,295 km of ruptured road, 52,960 km had been restored as of Thursday noon, according to the statement.
As of Thursday noon, 200,839 survivors had found jobs outside of the area, while another 828,931 were employed in their home towns.
Source:Xinhua
China adds government department for charity activities
A new department to promote charity and social welfare was set up on Thursday under China's Ministry of Civil Affairs.
The department would deal with welfare lottery, charity activities, donations and welfare projects for the elderly, disabled and children, a ministry statement said.
"We will work to boost the charity cause in China and contribute to the country's social security system," said Wang Zhenyao, the new department's director.
The department will draft rules on volunteers affairs and work on a nationwide volunteer network.
It is also entrusted to make a regulation on running the welfare lottery and managing the welfare fund raised through the lottery. It will work out plans on how to spend the money on charity programs.
Source:Xinhua
The department would deal with welfare lottery, charity activities, donations and welfare projects for the elderly, disabled and children, a ministry statement said.
"We will work to boost the charity cause in China and contribute to the country's social security system," said Wang Zhenyao, the new department's director.
The department will draft rules on volunteers affairs and work on a nationwide volunteer network.
It is also entrusted to make a regulation on running the welfare lottery and managing the welfare fund raised through the lottery. It will work out plans on how to spend the money on charity programs.
Source:Xinhua
China-U.S. JCCT "irreplaceable" for bilateral economic co-op
China on Thursday hailed the role of the China-U.S. Joint Commission on Commerce and Trade in bilateral trade, saying the upcoming meeting will further promote economic ties.
The China-U.S. JCCT has played "an irreplaceable role" in boosting and deepening the economic ties between China and the United States, Foreign Ministry spokeswoman Jiang Yu told a regular press conference.
She said the 19th meeting, scheduled for Los Angeles next Tuesday, will exert a positive influence on expanding cooperation and solving problems in China-U.S. trade.
The meeting will also mark the 25th anniversary of the China-U.S. JCCT. The JCCT is a high-level government-to-government dialogue, seeking to open market opportunities and resolve trade disputes.
Chinese Vice Premier Wang Qishan will co-chair the meeting with U.S. Secretary of Commerce Carlos Gutierrez and U.S. Trade Representative Susan Schwab.
According to Jiang, Wang's entourage includes a dozen ministerial officials from the Ministry of Commerce, the Foreign Ministry, the Ministry of Finance, the Ministry of Agriculture, the General Administration of Civil Aviation and several other ministries.
The Chinese Ambassador to the United States Zhou Wenzhong, and U.S Ambassador to China Clark Randt, will also attend the meeting as usual.
China and the United States are each other's second largest trade partners. Statistics from Chinese Ministry of Commerce show that the two-way trade volume topped 300 billion U.S. dollars in 2007, some 120 times as much 30 years ago when the two countries first forged diplomatic ties.
Labelling the main feature of China-U.S. economic ties as "mutual beneficial", Jiang said bilateral economic cooperation "brings real benefits for the two peoples, and contributes a lot to the global economy."
As for the problems and disputes that popped up between China and the United States, Jiang said it is "quite common," as the bilateral economic ties are developing "so rapidly on such a large scale."
"I hope the two sides could take the overall situation into consideration, sticking to solving problems via dialogues and consultation on equal footing and expanding cooperation," Jiang said.
"It is proven that dialogues and consultations are indeed effective," she added.
Source:Xinhua
The China-U.S. JCCT has played "an irreplaceable role" in boosting and deepening the economic ties between China and the United States, Foreign Ministry spokeswoman Jiang Yu told a regular press conference.
She said the 19th meeting, scheduled for Los Angeles next Tuesday, will exert a positive influence on expanding cooperation and solving problems in China-U.S. trade.
The meeting will also mark the 25th anniversary of the China-U.S. JCCT. The JCCT is a high-level government-to-government dialogue, seeking to open market opportunities and resolve trade disputes.
Chinese Vice Premier Wang Qishan will co-chair the meeting with U.S. Secretary of Commerce Carlos Gutierrez and U.S. Trade Representative Susan Schwab.
According to Jiang, Wang's entourage includes a dozen ministerial officials from the Ministry of Commerce, the Foreign Ministry, the Ministry of Finance, the Ministry of Agriculture, the General Administration of Civil Aviation and several other ministries.
The Chinese Ambassador to the United States Zhou Wenzhong, and U.S Ambassador to China Clark Randt, will also attend the meeting as usual.
China and the United States are each other's second largest trade partners. Statistics from Chinese Ministry of Commerce show that the two-way trade volume topped 300 billion U.S. dollars in 2007, some 120 times as much 30 years ago when the two countries first forged diplomatic ties.
Labelling the main feature of China-U.S. economic ties as "mutual beneficial", Jiang said bilateral economic cooperation "brings real benefits for the two peoples, and contributes a lot to the global economy."
As for the problems and disputes that popped up between China and the United States, Jiang said it is "quite common," as the bilateral economic ties are developing "so rapidly on such a large scale."
"I hope the two sides could take the overall situation into consideration, sticking to solving problems via dialogues and consultation on equal footing and expanding cooperation," Jiang said.
"It is proven that dialogues and consultations are indeed effective," she added.
Source:Xinhua
Senior CPC official meets Party of European Left chairman
China will work with the European Union to push forward the all-round strategic partnership between the two sides, said a senior official of the Communist Party of China in Beijing Thursday.
Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks in a meeting with Lothar Bisky, chairman of the Party of European Left .
Speaking highly of the pragmatic China-EU cooperation in various fields, Li said China always treat the relations with the EU from a strategic and long-term perspective.
China is ready to work with the EU to enrich relations, and lift them to a new level, Li said.
Hailing the important role of the party-to-party relations in the growth of China-EU ties, Li said the CPC would further increase dialogue and exchanges with the EL and the EL's member parties.
Bisky congratulated Li on the successful Beijing Olympic Games and believed the Paralympics would also be wonderful.
Bisky said the EL pays great attention to China's socialist course, and will make efforts to promote EU-China mutual trust and cooperation.
Bisky and his delegation were here on a visit to China from Sept. 8 to 15 at the invitation of the CPC.
The EL was established in Rome in 2004. It links 29 European left-wing and communist parties from Austria, Belgium, the Czech Republic, Estonia, Greece, Hungary, Luxembourg, Portugal, Romania, Spain, Switzerland and other countries, most of which stand to the left of social democrats.
Source:Xinhua
Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks in a meeting with Lothar Bisky, chairman of the Party of European Left .
Speaking highly of the pragmatic China-EU cooperation in various fields, Li said China always treat the relations with the EU from a strategic and long-term perspective.
China is ready to work with the EU to enrich relations, and lift them to a new level, Li said.
Hailing the important role of the party-to-party relations in the growth of China-EU ties, Li said the CPC would further increase dialogue and exchanges with the EL and the EL's member parties.
Bisky congratulated Li on the successful Beijing Olympic Games and believed the Paralympics would also be wonderful.
Bisky said the EL pays great attention to China's socialist course, and will make efforts to promote EU-China mutual trust and cooperation.
Bisky and his delegation were here on a visit to China from Sept. 8 to 15 at the invitation of the CPC.
The EL was established in Rome in 2004. It links 29 European left-wing and communist parties from Austria, Belgium, the Czech Republic, Estonia, Greece, Hungary, Luxembourg, Portugal, Romania, Spain, Switzerland and other countries, most of which stand to the left of social democrats.
Source:Xinhua
Typhoon Sinlaku strengthens, may hit Taiwan
Typhoon Sinlaku, the 13th tropical storm so far this year, was approaching the eastern coast of Taiwan and may land or skim over northeastern regions of the island on Saturday or Sunday, China's weather authorities said on Thursday.
The storm strengthened into a typhoon on Wednesday, and was spotted at about 390 kilometers southeast of Hengchun City, Taiwan, at 10 a.m. on Thursday, packing up winds of 180 km per hour at the center.
It was and moving in a northwesterly direction at five to 10 kman hour, getting closer to the northeast coast of Taiwan, said the National Meteorological Observatory.
It could make landfall or briefly touch the island on Saturday afternoon or Sunday morning, and then continue to head towards the Chinese mainland's Fujian Province and Zhejiang Province, said the observatory.
Heavy rains are forecast in Taiwan, northeastern regions of Fujian and eastern parts of Zhejiang over the next two days because of Typhoon Sinlaku, and there could be torrential rains insome regions of Taiwan.
The storm was still strengthening and could develop into a super typhoon, meteorological experts said.
The observatory also said the exact course and impact of the storm remained uncertain.
Source:Xinhua
The storm strengthened into a typhoon on Wednesday, and was spotted at about 390 kilometers southeast of Hengchun City, Taiwan, at 10 a.m. on Thursday, packing up winds of 180 km per hour at the center.
It was and moving in a northwesterly direction at five to 10 kman hour, getting closer to the northeast coast of Taiwan, said the National Meteorological Observatory.
It could make landfall or briefly touch the island on Saturday afternoon or Sunday morning, and then continue to head towards the Chinese mainland's Fujian Province and Zhejiang Province, said the observatory.
Heavy rains are forecast in Taiwan, northeastern regions of Fujian and eastern parts of Zhejiang over the next two days because of Typhoon Sinlaku, and there could be torrential rains insome regions of Taiwan.
The storm was still strengthening and could develop into a super typhoon, meteorological experts said.
The observatory also said the exact course and impact of the storm remained uncertain.
Source:Xinhua
Ex-convicts get death penalties for running mafia-style crime ring
Two brothers from a south Chinese city were given death penalties for crimes including operating an organized crime ring and causing two deaths.
The Intermediate People's Court of Guangzhou City, the provincial capital of Guangdong Province, handed down the sentences on Wednesday in a first-instance trial.
The court heard that starting July 2005, 30-year-old Feng Zhixi,a native of Guangzhou on parole, and his younger brother Feng Zhizhao, an ex-convict, whipped together a score of jobless people to form an organization called Black Dragon Society.
Through means such as extortion and false promises, the Feng brothers led the Society to a membership of 100, many of whom were middle school students in the city.
Members of the organized crime ring often haunted venues of entertainment in Baiyun district of Guangzhou to stir up trouble and then to levy protection fees, or blackmail others by taking advantage of negotiating disputes on their behalf.
In November 2005, the Feng brothers led members of their organized crime ring to besiege the village affairs committee of Dagangling Village in Baiyun district and force the committee leader to write down a pledge that all bidding activities for construction businesses in the village be cancelled, and such businesses could only be done by engineering teams owned by the Feng brothers. The two brothers obtained 180,000 yuan for building roads and drainage works in the village.
On June 4, 2006, the Feng brothers led people to beat two migrant workers from Guangxi Zhuang Autonomous Region to death, suspecting that the latter two had stolen a DVD player from the headquarters of the Society.
The organized crime ring soon fell apart after another member who participated in the beatings turned himself in to the police.
The Feng brothers and other organized crime ring members were also guilty of other acts of robbery, and illegal possession of weaponry.
The court found Feng Zhixi was guilty of five counts of crime, including murder, leading and operating the organized crime ring, and forced trading and sentenced him to death, plus a deprivation of political rights for life.
Feng Zhizhao, 25, who was also found guilty of five counts of crime, was sentenced to death but with two-year's reprieve. He was deprived of his political rights for life and all his personal property.
Twelve other key members on the same organized crime ring were also sentenced to jail terms ranging from three years to life imprisonment.
It is not immediately known whether the Feng brothers would appeal or not.
Source:Xinhua
The Intermediate People's Court of Guangzhou City, the provincial capital of Guangdong Province, handed down the sentences on Wednesday in a first-instance trial.
The court heard that starting July 2005, 30-year-old Feng Zhixi,a native of Guangzhou on parole, and his younger brother Feng Zhizhao, an ex-convict, whipped together a score of jobless people to form an organization called Black Dragon Society.
Through means such as extortion and false promises, the Feng brothers led the Society to a membership of 100, many of whom were middle school students in the city.
Members of the organized crime ring often haunted venues of entertainment in Baiyun district of Guangzhou to stir up trouble and then to levy protection fees, or blackmail others by taking advantage of negotiating disputes on their behalf.
In November 2005, the Feng brothers led members of their organized crime ring to besiege the village affairs committee of Dagangling Village in Baiyun district and force the committee leader to write down a pledge that all bidding activities for construction businesses in the village be cancelled, and such businesses could only be done by engineering teams owned by the Feng brothers. The two brothers obtained 180,000 yuan for building roads and drainage works in the village.
On June 4, 2006, the Feng brothers led people to beat two migrant workers from Guangxi Zhuang Autonomous Region to death, suspecting that the latter two had stolen a DVD player from the headquarters of the Society.
The organized crime ring soon fell apart after another member who participated in the beatings turned himself in to the police.
The Feng brothers and other organized crime ring members were also guilty of other acts of robbery, and illegal possession of weaponry.
The court found Feng Zhixi was guilty of five counts of crime, including murder, leading and operating the organized crime ring, and forced trading and sentenced him to death, plus a deprivation of political rights for life.
Feng Zhizhao, 25, who was also found guilty of five counts of crime, was sentenced to death but with two-year's reprieve. He was deprived of his political rights for life and all his personal property.
Twelve other key members on the same organized crime ring were also sentenced to jail terms ranging from three years to life imprisonment.
It is not immediately known whether the Feng brothers would appeal or not.
Source:Xinhua
N China mud-rock flow death toll rises to 151
The death toll from a rain-triggered mud-rock flow in north China's Shanxi Province rose to 151 as of 1 p.m. Thursday, with 35 injured, the local rescue headquarters said.
The State Council, China's Cabinet, has set up an accident investigation team, including officials from the State Administration of Work Safety, Shanxi provincial government, Supervision Ministry, Land and Resources Ministry and All China Federation of Trade Unions. Wang Jun, the State Administration of Work Safety director, was heading the team.
The accident occurred around 8 a.m. Monday in a pond holding waste ore dregs of the Tashan Mine in Xiangfen County, Linfen City, which was soaked by torrential rain.
Rescue work is underway and the specific number of people trapped underneath the rubble is still under investigation.
Source:Xinhua
The State Council, China's Cabinet, has set up an accident investigation team, including officials from the State Administration of Work Safety, Shanxi provincial government, Supervision Ministry, Land and Resources Ministry and All China Federation of Trade Unions. Wang Jun, the State Administration of Work Safety director, was heading the team.
The accident occurred around 8 a.m. Monday in a pond holding waste ore dregs of the Tashan Mine in Xiangfen County, Linfen City, which was soaked by torrential rain.
Rescue work is underway and the specific number of people trapped underneath the rubble is still under investigation.
Source:Xinhua
Memoirs give glimpse of China's farewell to "Blue-Ants Era"
Young Chinese feel it natural to be particular about their clothing style as one is what he wears. Hence when basketball vests and low-cut dresses look in, they start to pursue caliber fibers to secure shape retention, comfort, moisture management or quick dry.
Instead of "chic or not", the questions bothering most Chinese parents more than 30 years ago, when rationing coupons were needed for almost all daily necessities under the command economy, had been how to get hold of enough cloth to dress up the whole family decently.
With the clothes color options mainly confined to blue, gray and brown, a result of the then lagging textile industry, the Chinese had been named somewhat jokingly by French journalist Robert Guillain as the "blue ants under the red flag".
This seemingly incredible scene to Western eyes had brought so much pain to the Chinese leaders by the early 1970s as Chen Jinhua, a retired senior official, revealed in his newly published memoirs. To great extent, it had triggered a U-turn in the governance policies, goading the Chinese Communist Party to engage with Western developed countries in both the fields of diplomacy and economy.
CHAIRMAN MAO TAKEN ABACK
Just 22 years after New China''s foundation in 1949, the country providing for 21 percent of world population on only seven percent of world arable land had been caught in a battle between cotton and grain.
With cotton being the dominant raw material for the textile industry, expanding cotton production gave rise to the shrinkage of land for grain and risked putting more people in danger of starvation, in scenes redolent of the disaster of the Great Leap Forward..
In September 1971, When Chairman Mao Zedong went to Changsha onan inspection tour, he routinely granted a day off to his staff to find out what things were like. A woman worker returned in delight.
"When Mao asked what had come over her, she replied: ''I bought a pair of terylene trousers after standing in a queue for ages''," Chen Jinhua, the then deputy director of the Planning Group of the Ministry of Light Industry, recollected in her memoirs entitled "The Eventful Years".
Unlike average cotton pants, terylene trousers had smartly pressed straight creases and did not wrinkle. Mao was quite surprised by her reply and told his premier Zhou Enlai that "Standing in a queue for a little while might be OK but never ''forages.''"
"Can''t we buy the technology?" was the question that Mao threw at Zhou Enlai. The answer was "Of course".
This dialogue, Chen recalled, had started up China''s preparations for the second round importation of complete sets of technology and equipment, mostly for chemical fiber and fertilizer production, from Western developed countries such as the United States, Japan, Germany, the United Kingdom, France, Italy and Canada.
Faced with a grave economic crisis in the early 1970s, Western countries hoped to find a way out for their surplus productivity and were eager to do business with China.
When Mao met visiting American President Richard Nixon in 1972,an historic meeting which heralded the melting of the 20-odd years of icy relations between the two countries, he negated China''s "closed-door" policy in foreign trade implemented during the Cultural Revolution .
"You were interested in personnel exchange and doing a little bit of business, yet we were dead against it. For a dozen years, we insisted that if major issues were not solved, we would not bother with trivial things. I was one of them. Later on we realized that you were right, hence the ping-pong policy," Mao was cited as saying.
The Memoirs already put into permanent collection of the Olympic Museum identified that the deals cost China more than five billion U.S. dollars, equivalent to half of the year''s total infrastructure construction investment.
The deals also helped China to nurture a contingent people familiar with foreign affairs, to truly acquire advanced technology and learn methods of doing business with foreign countries, particularly how to raise funds by making use of the international capital market, Chen said.
By contrast, the equipment previously imported in large-scale in the 1950s from the Soviet Union and Eastern European countries were mostly based on American technologies before World War II and could no longer be considered as world-leading.
Though China formally embarked on the road of opening-up and economic reform in 1978, it was the bold step taken in the chemical industry that had enlivened a corner of the Chinese economy by easing the pressure on fiber and fertilizer shortfalls, and thus clothing and grain crops.
The government''s ambition of counting on an explosive growth of steel output to secure the title of industrialized power in the Great Leap Forward during 1950s had also been rectified.
Instead of "chic or not", the questions bothering most Chinese parents more than 30 years ago, when rationing coupons were needed for almost all daily necessities under the command economy, had been how to get hold of enough cloth to dress up the whole family decently.
With the clothes color options mainly confined to blue, gray and brown, a result of the then lagging textile industry, the Chinese had been named somewhat jokingly by French journalist Robert Guillain as the "blue ants under the red flag".
This seemingly incredible scene to Western eyes had brought so much pain to the Chinese leaders by the early 1970s as Chen Jinhua, a retired senior official, revealed in his newly published memoirs. To great extent, it had triggered a U-turn in the governance policies, goading the Chinese Communist Party to engage with Western developed countries in both the fields of diplomacy and economy.
CHAIRMAN MAO TAKEN ABACK
Just 22 years after New China''s foundation in 1949, the country providing for 21 percent of world population on only seven percent of world arable land had been caught in a battle between cotton and grain.
With cotton being the dominant raw material for the textile industry, expanding cotton production gave rise to the shrinkage of land for grain and risked putting more people in danger of starvation, in scenes redolent of the disaster of the Great Leap Forward..
In September 1971, When Chairman Mao Zedong went to Changsha onan inspection tour, he routinely granted a day off to his staff to find out what things were like. A woman worker returned in delight.
"When Mao asked what had come over her, she replied: ''I bought a pair of terylene trousers after standing in a queue for ages''," Chen Jinhua, the then deputy director of the Planning Group of the Ministry of Light Industry, recollected in her memoirs entitled "The Eventful Years".
Unlike average cotton pants, terylene trousers had smartly pressed straight creases and did not wrinkle. Mao was quite surprised by her reply and told his premier Zhou Enlai that "Standing in a queue for a little while might be OK but never ''forages.''"
"Can''t we buy the technology?" was the question that Mao threw at Zhou Enlai. The answer was "Of course".
This dialogue, Chen recalled, had started up China''s preparations for the second round importation of complete sets of technology and equipment, mostly for chemical fiber and fertilizer production, from Western developed countries such as the United States, Japan, Germany, the United Kingdom, France, Italy and Canada.
Faced with a grave economic crisis in the early 1970s, Western countries hoped to find a way out for their surplus productivity and were eager to do business with China.
When Mao met visiting American President Richard Nixon in 1972,an historic meeting which heralded the melting of the 20-odd years of icy relations between the two countries, he negated China''s "closed-door" policy in foreign trade implemented during the Cultural Revolution .
"You were interested in personnel exchange and doing a little bit of business, yet we were dead against it. For a dozen years, we insisted that if major issues were not solved, we would not bother with trivial things. I was one of them. Later on we realized that you were right, hence the ping-pong policy," Mao was cited as saying.
The Memoirs already put into permanent collection of the Olympic Museum identified that the deals cost China more than five billion U.S. dollars, equivalent to half of the year''s total infrastructure construction investment.
The deals also helped China to nurture a contingent people familiar with foreign affairs, to truly acquire advanced technology and learn methods of doing business with foreign countries, particularly how to raise funds by making use of the international capital market, Chen said.
By contrast, the equipment previously imported in large-scale in the 1950s from the Soviet Union and Eastern European countries were mostly based on American technologies before World War II and could no longer be considered as world-leading.
Though China formally embarked on the road of opening-up and economic reform in 1978, it was the bold step taken in the chemical industry that had enlivened a corner of the Chinese economy by easing the pressure on fiber and fertilizer shortfalls, and thus clothing and grain crops.
The government''s ambition of counting on an explosive growth of steel output to secure the title of industrialized power in the Great Leap Forward during 1950s had also been rectified.
Memoirs give glimpse of China's farewell to "Blue-Ants Era" (2)
TWISTS AND TURNS
Following the Beijing Olympics, widely-viewed as a coming-out party for China, curiosity has been piqued across the world over China''s development mode marked by an economy growing at double the world annual average for more than a decade.
The journey of China''s rising from poverty, as the writer Chen recalled, however, is quite bumpy, strewn with disputes, advances and retreats, successes and setbacks.
In his memoir, the former director of the State Commission for Restructuring the Economy and later head of the State Planning Commission, the top economic planner in the 1990s, poured out his first-hand impression of the Party governance and high-profile decision-making on thorny issues, especially macro-economic control.
When the retail price index surged to 18.5 percent in 1988, touching off quite serious inflation and great panic in cities, detractors said to go in for the market economy was to ditch public ownership, the Party leadership and the Socialist system for Capitalism.
More than 100 economists, well-known enterprise figures and senior government officials gathered in Beijing in October 1990 ata forum to discuss theories of Socialist economic reform, calling for the finding of precise theoretical and practical answers as soon as possible, he noted.
The disputes ended two years later after Deng Xiaoping, mastermind of China''s economic reform and opening-up drive, made a southern China inspection tour, stating his famous conclusion that "planning and market are both economic means".
Chen minced no words in his admission of the government''s inexperience and inadequate preparation in carrying on with the reform of price and the wage systems in the late 1990s.
Two phenomena having direct bearing on the tossing and turning of the local economy or what local economists termed "Zhe Teng", were investment thirst and political performance effect at the changeover of governments, Chen noted.
"Economic overheating, investment expansion and changes of government have a positive correlation," he said. "Once excessive thirst is translated into government action or becomes the objective of government driven by personal gain without correct guidance by the market and rational thinking for development, its negative effect will rapidly swell, thus touching off run-away overheated development."
Thirty years into the economic reform, there is still some truth in this perspective as fixed-assets investment remains the strongest economic engine in comparison to foreign trade and domestic consumption.
By Chen''s own admission, in doing business in China, the key lies with the leadership, first of all, leadership above provincial and ministerial levels. "Without unanimity of thinking among officials at these levels, work would not be done well."
Being the director of the State Planning Commission, Chen''s daily routine was to deal with local governments. When it came to the controlling of the overheated macro-economy, however, Chen said it was often "the question of economic overheating in the other guy''s back yard".
Considering the widening regional disparity in China and the country''s closer integration with the global market, the mission of striking a balance between inflation and growth now would be tougher.
The Memoirs having its Japanese edition released last August also devoted chapters to the inner-Party political struggles following the downfall of the Gang of Four in Shanghai, a potential risk that might have changed China''s history without being properly handled.
Source:Xinhua
Following the Beijing Olympics, widely-viewed as a coming-out party for China, curiosity has been piqued across the world over China''s development mode marked by an economy growing at double the world annual average for more than a decade.
The journey of China''s rising from poverty, as the writer Chen recalled, however, is quite bumpy, strewn with disputes, advances and retreats, successes and setbacks.
In his memoir, the former director of the State Commission for Restructuring the Economy and later head of the State Planning Commission, the top economic planner in the 1990s, poured out his first-hand impression of the Party governance and high-profile decision-making on thorny issues, especially macro-economic control.
When the retail price index surged to 18.5 percent in 1988, touching off quite serious inflation and great panic in cities, detractors said to go in for the market economy was to ditch public ownership, the Party leadership and the Socialist system for Capitalism.
More than 100 economists, well-known enterprise figures and senior government officials gathered in Beijing in October 1990 ata forum to discuss theories of Socialist economic reform, calling for the finding of precise theoretical and practical answers as soon as possible, he noted.
The disputes ended two years later after Deng Xiaoping, mastermind of China''s economic reform and opening-up drive, made a southern China inspection tour, stating his famous conclusion that "planning and market are both economic means".
Chen minced no words in his admission of the government''s inexperience and inadequate preparation in carrying on with the reform of price and the wage systems in the late 1990s.
Two phenomena having direct bearing on the tossing and turning of the local economy or what local economists termed "Zhe Teng", were investment thirst and political performance effect at the changeover of governments, Chen noted.
"Economic overheating, investment expansion and changes of government have a positive correlation," he said. "Once excessive thirst is translated into government action or becomes the objective of government driven by personal gain without correct guidance by the market and rational thinking for development, its negative effect will rapidly swell, thus touching off run-away overheated development."
Thirty years into the economic reform, there is still some truth in this perspective as fixed-assets investment remains the strongest economic engine in comparison to foreign trade and domestic consumption.
By Chen''s own admission, in doing business in China, the key lies with the leadership, first of all, leadership above provincial and ministerial levels. "Without unanimity of thinking among officials at these levels, work would not be done well."
Being the director of the State Planning Commission, Chen''s daily routine was to deal with local governments. When it came to the controlling of the overheated macro-economy, however, Chen said it was often "the question of economic overheating in the other guy''s back yard".
Considering the widening regional disparity in China and the country''s closer integration with the global market, the mission of striking a balance between inflation and growth now would be tougher.
The Memoirs having its Japanese edition released last August also devoted chapters to the inner-Party political struggles following the downfall of the Gang of Four in Shanghai, a potential risk that might have changed China''s history without being properly handled.
Source:Xinhua
Trade surplus reaches new peak
China's trade surplus reached a new record high of $28.7 billion in August after its imports significantly slowed as a result of weakening domestic demand, analysts said.
The nation's export growth slowed to 21.1 percent year-on-year in August from 26.9 percent in July, but its import growth slowed more sharply to 23.1 percent from 33.7 percent, leading to the record monthly surplus.
China's exports to the United States, the European Union and Japan all registered a slowdown in August.
Many analysts attribute the slowdown in imports to China's slowing economic growth, which expanded 10.4 percent year-on-year in the first half of 2008, compared with 11.4 percent last year.
"Slow import growth and the reacceleration and pick-up in trade surplus growth in August could be an indication of weakening domestic demand, induced by the credit tightening which began nearly a year ago," economists from Goldman Sachs in Hong Kong said in a research note.
Sun Mingchun, an economist with Lehman Brothers, said that "the sharp decline in import growth reflects the combined effects of falling crude oil prices, a decline in imports of refined oil products following the Olympic Games, the appreciation of the US dollar against other major currencies, as well as weakening import demand as the export outlook darkens".
Half of China's exports are from the processing and assembly trade, which imports raw materials and components first before exporting final products.
China's export growth nevertheless remained resilient in August, despite the previous reports of a large number of coastal exporters going bankrupt.
"What is likely happening is that thousands of small, inefficient producers are going out of business and large exporters are still expanding production," said Stephen Green, senior economist with Standard Chartered Bank . But he said that "the golden times are certainly over" for Chinese exporters.
As Europe, the biggest destination for Chinese exports, now experiences an economic downturn, exports are likely to slow "in the last few months of the year", he wrote in a research note.
As the trade surplus hit a record in August, analysts said it may put more pressure on the yuan appreciation.
"While we expect China's export growth to follow a downtrend in the months to come, the still-huge trade surplus suggests that pressure on the yuan to appreciate has not reduced much," Sun said.
Meanwhile, the Ministry of Commerce said yesterday that the country attracted $67.73 billion in foreign direct investment in the first eight months of 2008, up 41.6 percent year-on-year. Actually utilized FDI in August was $7.01 billion, up 20.4 percent year-on-year.
But the number of newly established foreign enterprises dropped by 24.35 percent year-on-year. The drop in August alone was 39.5 percent.
The opposite growth trends may indicate that some speculative capital has entered China disguised as investment funds, analysts warned.
Source: China Daily
The nation's export growth slowed to 21.1 percent year-on-year in August from 26.9 percent in July, but its import growth slowed more sharply to 23.1 percent from 33.7 percent, leading to the record monthly surplus.
China's exports to the United States, the European Union and Japan all registered a slowdown in August.
Many analysts attribute the slowdown in imports to China's slowing economic growth, which expanded 10.4 percent year-on-year in the first half of 2008, compared with 11.4 percent last year.
"Slow import growth and the reacceleration and pick-up in trade surplus growth in August could be an indication of weakening domestic demand, induced by the credit tightening which began nearly a year ago," economists from Goldman Sachs in Hong Kong said in a research note.
Sun Mingchun, an economist with Lehman Brothers, said that "the sharp decline in import growth reflects the combined effects of falling crude oil prices, a decline in imports of refined oil products following the Olympic Games, the appreciation of the US dollar against other major currencies, as well as weakening import demand as the export outlook darkens".
Half of China's exports are from the processing and assembly trade, which imports raw materials and components first before exporting final products.
China's export growth nevertheless remained resilient in August, despite the previous reports of a large number of coastal exporters going bankrupt.
"What is likely happening is that thousands of small, inefficient producers are going out of business and large exporters are still expanding production," said Stephen Green, senior economist with Standard Chartered Bank . But he said that "the golden times are certainly over" for Chinese exporters.
As Europe, the biggest destination for Chinese exports, now experiences an economic downturn, exports are likely to slow "in the last few months of the year", he wrote in a research note.
As the trade surplus hit a record in August, analysts said it may put more pressure on the yuan appreciation.
"While we expect China's export growth to follow a downtrend in the months to come, the still-huge trade surplus suggests that pressure on the yuan to appreciate has not reduced much," Sun said.
Meanwhile, the Ministry of Commerce said yesterday that the country attracted $67.73 billion in foreign direct investment in the first eight months of 2008, up 41.6 percent year-on-year. Actually utilized FDI in August was $7.01 billion, up 20.4 percent year-on-year.
But the number of newly established foreign enterprises dropped by 24.35 percent year-on-year. The drop in August alone was 39.5 percent.
The opposite growth trends may indicate that some speculative capital has entered China disguised as investment funds, analysts warned.
Source: China Daily
China outlines punishments for central SOE boss responsible for huge business losses
Senior executives of China's 147 centrally-administered state-owned enterprises may face a permanent ban from their managing posts if found responsible for severe losses during their tenure, the state assets watchdog said on Wednesday.
Heads of the central SOEs may face economic and administrative punishment, and one-to-five-year or even a life ban from their posts if their businesses run into unusually severe losses or heavy losses at times, the State-owned Assets Supervision and Administration Commission said on its website.
The new rules spelled out 50 situations causing economic losses which will lead to punishment of company executives, including irregular practices in daily operation like purchase, sale and capital management, as well as investment and corporate restructuring.
Both direct and indirect losses will be calculated to measure executive performance. Foreseeable damage in the future will also be taken into account.
The economic punishment includes slashing pay and bonus and stopping new stock issuance. The administrative punishment consists of warning, demotion and dismissal.
Former executives cannot escape liability if they were found responsible for the losses after they leave the posts.
The 147 SOEs and their major subsidiaries are required to report to the SASAC if losses occur. The latest reshuffle has cut the number of the SOEs from 149 to 147.
As the backbone of the national economy, central SOEs control many crucial sectors including power, oil and gas. Those enterprises are plagued by corruption and malpractice scandals of their bosses, without concrete policies to bring those guilty to justice.
Chen Jiulin, the former chief executive officer of China Aviation Oil Corp. Ltd. , was sentenced to four years and three months in jail and a fine of 335,000 Singapore dollars on March 21, 2006.
Chen, a 45-year-old Chinese national, had faced 15 counts of issuing false financial statements, cheating Deutsche Bank and failure to inform the Singapore Exchange of the company's losses.
CAO, once a major jet fuel supplier listed on the Singapore Exchange, lost 550 million U.S. dollars in oil derivatives trading in 2004.
Source: Xinhua
Heads of the central SOEs may face economic and administrative punishment, and one-to-five-year or even a life ban from their posts if their businesses run into unusually severe losses or heavy losses at times, the State-owned Assets Supervision and Administration Commission said on its website.
The new rules spelled out 50 situations causing economic losses which will lead to punishment of company executives, including irregular practices in daily operation like purchase, sale and capital management, as well as investment and corporate restructuring.
Both direct and indirect losses will be calculated to measure executive performance. Foreseeable damage in the future will also be taken into account.
The economic punishment includes slashing pay and bonus and stopping new stock issuance. The administrative punishment consists of warning, demotion and dismissal.
Former executives cannot escape liability if they were found responsible for the losses after they leave the posts.
The 147 SOEs and their major subsidiaries are required to report to the SASAC if losses occur. The latest reshuffle has cut the number of the SOEs from 149 to 147.
As the backbone of the national economy, central SOEs control many crucial sectors including power, oil and gas. Those enterprises are plagued by corruption and malpractice scandals of their bosses, without concrete policies to bring those guilty to justice.
Chen Jiulin, the former chief executive officer of China Aviation Oil Corp. Ltd. , was sentenced to four years and three months in jail and a fine of 335,000 Singapore dollars on March 21, 2006.
Chen, a 45-year-old Chinese national, had faced 15 counts of issuing false financial statements, cheating Deutsche Bank and failure to inform the Singapore Exchange of the company's losses.
CAO, once a major jet fuel supplier listed on the Singapore Exchange, lost 550 million U.S. dollars in oil derivatives trading in 2004.
Source: Xinhua
China's mainland records 41.6% increase in investment inflow
China's mainland reported a 41.6 percent year-on-year surge in the actual use of investment from other areas in the first eight months of this year.
Investment inflow reached 67.73 billion U.S. dollars from January to August, China's Ministry of Commerce said on Wednesday.
Zhang Hanya, a researcher with the National Development and Reform Commission, said the impressive growth indicated investors' confidence in China's sustained and rapid economic growth.
"With a large population of 1.3 billion, China is a huge market for investors even if the economic expansion slows a little," Zhang said.
The mainland approved the establishment of 18,797 enterprises funded with outside investment in the first eight months, down 24.35 percent from the same period last year.
The figures reflected the endeavor to increase the quality of investments from the outside, said Zhang.
Source: Xinhua
Investment inflow reached 67.73 billion U.S. dollars from January to August, China's Ministry of Commerce said on Wednesday.
Zhang Hanya, a researcher with the National Development and Reform Commission, said the impressive growth indicated investors' confidence in China's sustained and rapid economic growth.
"With a large population of 1.3 billion, China is a huge market for investors even if the economic expansion slows a little," Zhang said.
The mainland approved the establishment of 18,797 enterprises funded with outside investment in the first eight months, down 24.35 percent from the same period last year.
The figures reflected the endeavor to increase the quality of investments from the outside, said Zhang.
Source: Xinhua
Urban investment up 27%
China's urban fixed-asset investment grew to 8.49 trillion yuan in the first eight months of 2008, up 27.4 percent year-on-year, the National Bureau of Statistics said yesterday.
The figure outpaced the growth rate for the first seven months of this year by 0.1 of a percentage point. This indicates a slight pick-up in investment in August, despite construction restrictions adopted for the Olympics in Beijing and areas surrounding the capital.
"Fixed-asset investment is likely to rebound further in the months ahead," said Lian Ping, chief economist of Bank of Communications.
China's economic growth slowed to 10.1 percent in the first half of this year, down from 11.4 percent for the whole of 2007. The deceleration came as foreign demand weakened and the government adopted tightening measures to rein in investment. Meanwhile, natural disasters such as March's snowstorms and the May 12 earthquake also disrupted economic activities in the affected regions.
"In the following months, reconstruction work will step up a gear," said Lian. "And local governments might also launch new projects to cushion the impact of the decline in exports."
The government already moved to relax loan restrictions for commercial banks in August, an indication of policymakers' growing concern about a possible economic slowdown and their desire to encourage growth. The restrictions, adopted last year, were seen as one of the government's most effective measures to calm the investment frenzy.
Investment growth in primary industries, including farming, fisheries and forestry, rose to 63.5 percent year-on-year in the first eight months. Meanwhile, investment grew 28.8 percent in secondary industries, while tertiary industries witnessed a 25.5 percent rise .
Investment in real estate declined to 29.1 percent year-on-year in the first eight months of the year, down from 30.9 percent in the first seven months.
This implies that its growth in August was only 18.9 percent year-on-year as compared to 37.5 percent in June, said Sun Mingchun, an economist with Lehman Brothers.
"This is consistent with anecdotal evidence that the property sector is under severe pressure because of a gloomier economic outlook and the lack of funds."
In August, bank loans for fixed-asset investment went up 14.8 percent compared with the same period a year ago. In the meantime, funds raised by the enterprises themselves, most of which were their profits, were up by a robust 32.6 percent.
In contrast, foreign funding earmarked for fixed-asset investment increased by a mere 6 percent in August from a year earlier.
Source: China Daily/Agencies
The figure outpaced the growth rate for the first seven months of this year by 0.1 of a percentage point. This indicates a slight pick-up in investment in August, despite construction restrictions adopted for the Olympics in Beijing and areas surrounding the capital.
"Fixed-asset investment is likely to rebound further in the months ahead," said Lian Ping, chief economist of Bank of Communications.
China's economic growth slowed to 10.1 percent in the first half of this year, down from 11.4 percent for the whole of 2007. The deceleration came as foreign demand weakened and the government adopted tightening measures to rein in investment. Meanwhile, natural disasters such as March's snowstorms and the May 12 earthquake also disrupted economic activities in the affected regions.
"In the following months, reconstruction work will step up a gear," said Lian. "And local governments might also launch new projects to cushion the impact of the decline in exports."
The government already moved to relax loan restrictions for commercial banks in August, an indication of policymakers' growing concern about a possible economic slowdown and their desire to encourage growth. The restrictions, adopted last year, were seen as one of the government's most effective measures to calm the investment frenzy.
Investment growth in primary industries, including farming, fisheries and forestry, rose to 63.5 percent year-on-year in the first eight months. Meanwhile, investment grew 28.8 percent in secondary industries, while tertiary industries witnessed a 25.5 percent rise .
Investment in real estate declined to 29.1 percent year-on-year in the first eight months of the year, down from 30.9 percent in the first seven months.
This implies that its growth in August was only 18.9 percent year-on-year as compared to 37.5 percent in June, said Sun Mingchun, an economist with Lehman Brothers.
"This is consistent with anecdotal evidence that the property sector is under severe pressure because of a gloomier economic outlook and the lack of funds."
In August, bank loans for fixed-asset investment went up 14.8 percent compared with the same period a year ago. In the meantime, funds raised by the enterprises themselves, most of which were their profits, were up by a robust 32.6 percent.
In contrast, foreign funding earmarked for fixed-asset investment increased by a mere 6 percent in August from a year earlier.
Source: China Daily/Agencies
Gas pipeline feasibility in spotlight
The country's largest oil and gas producer has begun a feasibility study on the third west-east natural gas pipeline, after work started on the second gas pipeline in February.
China National Petroleum Corp's feasibility study should produce a preliminary plan next year, Yang Jianhong, deputy director of the oil and gas pipeline department at the China Petroleum Planning and Engineering Institute, was quoted by the 21st Century Business Herald as saying.
The pipeline will start from the Xinjiang Uygur autonomous region and will end in Fujian province, supplying natural gas to the energy-hungry Yangtze and Pearl river deltas, Yang said. The two other pipelines do not cover Fujian.
CNPC could not be reached for comment yesterday. Company sources said earlier "the plan for the project is still at a very early stage as the company just started building the second gas pipeline in February".
Analysts said the project will be a similar length to the 9,102-km second gas pipeline, but it needs more investment due to higher raw material costs.
The nation's second west-east natural gas pipeline, with total investment of 142.2 billion yuan, comprises a main line and eight sub-lines.
With a gas transmission capacity of 30 billion cu m a year, it will cover 12 provinces and autonomous regions before reaching the eastern municipality of Shanghai and southern Guangdong province.
The company's first project to pipe natural gas from western to eastern China went into commercial operation at the end of 2004. It runs from Xinjiang's Tarim Basin to Shanghai.
That pipeline has already supplied 42 billion cu m of natural gas to the eastern region. That's a saving of 54 million tons of coal and 21 billion kWh of electricity, CNPC said on its website.
It has also changed the energy structure of Shanghai. In 2002, natural gas accounted for just 0.9 percent of Shanghai's total energy consumption, but in 2007 the figure was 4 percent.
China wants to raise the proportion of natural gas in its total energy consumption to 5.3 percent in 2010 from 2.8 percent in 2005, as it tries to curb pollution. Analysts said the pipelines will be pivotal to reaching this target.
In line with the government push to use more clean energy, the CNPC is doing more to develop natural gas. The company's natural gas production has grown 20 percent for the past three years.
Source: China Daily
China National Petroleum Corp's feasibility study should produce a preliminary plan next year, Yang Jianhong, deputy director of the oil and gas pipeline department at the China Petroleum Planning and Engineering Institute, was quoted by the 21st Century Business Herald as saying.
The pipeline will start from the Xinjiang Uygur autonomous region and will end in Fujian province, supplying natural gas to the energy-hungry Yangtze and Pearl river deltas, Yang said. The two other pipelines do not cover Fujian.
CNPC could not be reached for comment yesterday. Company sources said earlier "the plan for the project is still at a very early stage as the company just started building the second gas pipeline in February".
Analysts said the project will be a similar length to the 9,102-km second gas pipeline, but it needs more investment due to higher raw material costs.
The nation's second west-east natural gas pipeline, with total investment of 142.2 billion yuan, comprises a main line and eight sub-lines.
With a gas transmission capacity of 30 billion cu m a year, it will cover 12 provinces and autonomous regions before reaching the eastern municipality of Shanghai and southern Guangdong province.
The company's first project to pipe natural gas from western to eastern China went into commercial operation at the end of 2004. It runs from Xinjiang's Tarim Basin to Shanghai.
That pipeline has already supplied 42 billion cu m of natural gas to the eastern region. That's a saving of 54 million tons of coal and 21 billion kWh of electricity, CNPC said on its website.
It has also changed the energy structure of Shanghai. In 2002, natural gas accounted for just 0.9 percent of Shanghai's total energy consumption, but in 2007 the figure was 4 percent.
China wants to raise the proportion of natural gas in its total energy consumption to 5.3 percent in 2010 from 2.8 percent in 2005, as it tries to curb pollution. Analysts said the pipelines will be pivotal to reaching this target.
In line with the government push to use more clean energy, the CNPC is doing more to develop natural gas. The company's natural gas production has grown 20 percent for the past three years.
Source: China Daily
Tsingtao snaps up brewery
SHANGHAI: Tsingtao Brewery, one of China's largest beer makers, will buy Carlsberg Hong Kong's remaining 25 percent stake in Tsingtao Beer Shanghai Songjiang Co for 51.25 million yuan.
After the purchase, the Qingdao-based brewer will own the entire equity interest of the Shanghai company. Tsingtao bought a 75 percent stake in the subsidiary from Carlsberg in 2000.
The latest acquisition was "proposed by Carlsberg, and we agreed because we wanted to consolidate our autonomy in managing the company", a Tsingtao executive identified as Wang said.
"The price for the deal is quite cheap given the subsidiary's net assets of 438 million yuan in 2007," said Shi Jiangang, an analyst at TX Investment Consulting Co Ltd.
The price for the 25 percent stake was agreed in 2000 when the Danish brewer sold 75 percent of then Carlsberg Brewery Ltd to Tsingtao for $19 million.
Through the previous purchase, Tsingtao successfully filled its market vacancy in Shanghai.
"Unlike other beer markets, foreign brands like Japanese Suntory and Singaporean Reeb Beer are the dominant players in the market," Shi said, adding that the acquisition is an extension of its 2000 purchase that will help Tsingtao boost its market share in the region.
The Shanghai subsidiary mainly brews beer for China's eastern region.
Analysts said Carlsberg's move to sell the stake could be partly because it is losing market share to local brewers.
"Carlsberg's weak performance in retail dragged down its total achievements in the country, where it has only a 1.3 percent market share, down 0.1 of a percentage point from 2006," Huang Qiong, an analyst at Euromonitor International, said.
Domestic products, in contrast, accounted for over 99 percent of total volume sales in China last year, when Tsingtao had a 13 percent market share following China Resources Enterprises Co Ltd, the second largest brewer in China, according to Euromonitor figures.
Tsingtao posted a net profit of 560 million yuan last year, up 27.7 percent from 2006.
"Middle and high-end beers are Tsingtao's main products, so it's good news and in line with the market trend," Shi said.
Local consumers are taking to premium beer brands such as Tsingtao Premium and Heineken, Euromonitor said. But "the average profit for beer in China is less than 100 yuan per ton, which is very low for brewers. As a result, the leading manufacturers are increasingly focused on developing high-end products to boost profits."
The Shanghai plant posted a net profit of 16.79 million yuan in 2007, up 30 percent from a year earlier, according to Tsingtao's statement to the Shanghai Stock Exchange.
Tsingtao's A shares slid 0.77 percent to close at 16.81 yuan yesterday.
"Through the transaction, Carlsberg can continuously focus its resources to develop its rapidly growing Carlsberg brand as well as other major beer business within China," the company said in a statement.
Source: China Daily
After the purchase, the Qingdao-based brewer will own the entire equity interest of the Shanghai company. Tsingtao bought a 75 percent stake in the subsidiary from Carlsberg in 2000.
The latest acquisition was "proposed by Carlsberg, and we agreed because we wanted to consolidate our autonomy in managing the company", a Tsingtao executive identified as Wang said.
"The price for the deal is quite cheap given the subsidiary's net assets of 438 million yuan in 2007," said Shi Jiangang, an analyst at TX Investment Consulting Co Ltd.
The price for the 25 percent stake was agreed in 2000 when the Danish brewer sold 75 percent of then Carlsberg Brewery Ltd to Tsingtao for $19 million.
Through the previous purchase, Tsingtao successfully filled its market vacancy in Shanghai.
"Unlike other beer markets, foreign brands like Japanese Suntory and Singaporean Reeb Beer are the dominant players in the market," Shi said, adding that the acquisition is an extension of its 2000 purchase that will help Tsingtao boost its market share in the region.
The Shanghai subsidiary mainly brews beer for China's eastern region.
Analysts said Carlsberg's move to sell the stake could be partly because it is losing market share to local brewers.
"Carlsberg's weak performance in retail dragged down its total achievements in the country, where it has only a 1.3 percent market share, down 0.1 of a percentage point from 2006," Huang Qiong, an analyst at Euromonitor International, said.
Domestic products, in contrast, accounted for over 99 percent of total volume sales in China last year, when Tsingtao had a 13 percent market share following China Resources Enterprises Co Ltd, the second largest brewer in China, according to Euromonitor figures.
Tsingtao posted a net profit of 560 million yuan last year, up 27.7 percent from 2006.
"Middle and high-end beers are Tsingtao's main products, so it's good news and in line with the market trend," Shi said.
Local consumers are taking to premium beer brands such as Tsingtao Premium and Heineken, Euromonitor said. But "the average profit for beer in China is less than 100 yuan per ton, which is very low for brewers. As a result, the leading manufacturers are increasingly focused on developing high-end products to boost profits."
The Shanghai plant posted a net profit of 16.79 million yuan in 2007, up 30 percent from a year earlier, according to Tsingtao's statement to the Shanghai Stock Exchange.
Tsingtao's A shares slid 0.77 percent to close at 16.81 yuan yesterday.
"Through the transaction, Carlsberg can continuously focus its resources to develop its rapidly growing Carlsberg brand as well as other major beer business within China," the company said in a statement.
Source: China Daily
China stocks plummet to 22-month low on growth worry, policy uncertainty
Chinese shares tumbled 3.34 percent to 22-month low on Thursday amid renewed fears of economic slowdown and policy uncertainly.
The benchmark Shanghai Composite Index ended 3.34 percent down at 2078.98 points. The Shenzhen Component Index lost 2.68 percent to 6876.25 points.
Losers outnumbered gainers by 753-120 in Shanghai and 639-98 in Shenzhen.
Source:Xinhua
The benchmark Shanghai Composite Index ended 3.34 percent down at 2078.98 points. The Shenzhen Component Index lost 2.68 percent to 6876.25 points.
Losers outnumbered gainers by 753-120 in Shanghai and 639-98 in Shenzhen.
Source:Xinhua
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