Thursday, January 31, 2008

Chinese language - Group wedding on the May Day

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Group wedding on the May Day

www.chinanews.cn 2007-05-01 18:29:49

A big group wedding was held in Nanijing on May 1, 2007, with 100 young
couples saying their vows that day. 7 old couples also chose the day to
celebrate the anniversaries of their weddings.

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Group wedding
"Human domino"
Magic Festival
"Underwater ballet"

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Chinese language - Ice to prolong flowers' life

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�� Post-1980 generation active and vigorous

�� Aging society to cost Chinese dearly

�� Chinese railway starts high-speed era

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�� Magic Festival to be kicked off

�� Robot competition held in Shandong

�� Ice to prolong flowers' life

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Ice to prolong flowers' life

www.chinanews.cn 2007-04-29 16:09:43

With the coming of summer, workers put some ice blocks in the peony yard
to lower the temperature to prolong these beautiful flowers' life in
Luoyang, a city well known for its peonies in central China's Henan
Province, on April 27, 2007. These flowers will decorate the city during
the forthcoming May Day holiday.

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Tomato pool
"True man show"
Wedding
Hand shadow

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Wednesday, January 30, 2008

Learn Chinese - HSBC: Wealthy Shanghainese need financial planning services

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�� Aging society to cost Chinese dearly

�� Chinese railway starts high-speed era

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�� Robot being model in Auto Expo

�� Temple fair showing traditional Shanghai flavor

�� Panda couple in good shape on their 1st day in HK

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��Home>>Business

HSBC: Wealthy Shanghainese need financial planning services

www.chinanews.cn 2007-04-28 15:51:55

Chinanews, Shanghai, April 28 - HSBC conducted a general survey, finding
most wealthy Shanghainese are more interested in setting up businesses of
their own, and in financial planning services, than wealthy people in
other big cities in the world.
The survey covered Shanghai, Hong Kong, Bombay, Singapore and Sydney.
About 72% of respondents from Shanghai believe operating businesses of
their own is the best symbol of their wealth and success, while some 70%
of all the respondents think health is more important than wealth (the
choice of 62% of them) and properties (the choice of 54% of them).
Shanghainese are interested in financial planning services, particularly
such services offered by banks. 59% of respondents from Shanghai say that
they often consult financial planning agencies on the information of
their latest products, while the figure in Bombay, Hong Kong, Singapore
and Sydney are 49%, 44%, 37% and 28% respectively.

��Wage-earners keen on making financial management
��Chinese public change financial management ideas

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Tomato pool
"True man show"
Wedding
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Chinese Mandarin - Firefighting drill in ancient tower in Urumqi

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�� Aging society to cost Chinese dearly

�� Chinese railway starts high-speed era

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�� Mt.Qomolangma preparing for Olympic torch relay

�� Firefighting drill in ancient tower in Urumqi

�� Street lamps wearing bamboo hats

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Firefighting drill in ancient tower in Urumqi

www.chinanews.cn 2007-04-27 10:44:11

Firefighters in Urumqi, Xinjiang Uygur Autonomous Region, held a
firefight drill in an ancient tower in the local Red Hill Park. The park
will be open to the general public from the forthcoming May Day holiday.
The drill is aiming at enhancing the protection of wood structures in the
park, especially when there will be a tourism peak soon.

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Tortoise
Golf balls
Policewomen
Bird Festival

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Learn Chinese - Gorgeous boats promoting holiday atmosphere

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�� Aging society to cost Chinese dearly

�� Chinese railway starts high-speed era

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�� Gorgeous boats promoting holiday atmosphere

�� Quarter-finals of Miss Globe Contest

�� Rare publications on display

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Gorgeous boats promoting holiday atmosphere

www.chinanews.cn 2007-04-26 11:07:46

More than 10 gorgeous boats imbued with both traditional arts and modern
technology are arranged to decorate the city moat of Suzhou, Jiangsu
Province, from April 25 to May 7, promoting the May Day holiday
atmosphere.

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Tortoise
Golf balls
Policewomen
Bird Festival

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Learn Mandarin online - Taishan the Panda to stay in US for two more yrs

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�� Aging society to cost Chinese dearly

�� Chinese railway starts high-speed era

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�� 150 mln to travel during May Day holiday

�� Tourism Queen crowned in Xitang

�� Sports meet in a tomato pool

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Taishan the Panda to stay in US for two more yrs

www.chinanews.cn 2007-04-25 11:00:43

This is the pictures of Taishan, a panda in the Washington National Zoo,
on which he is enjoying a large ice block.

Taishan is an artificially cultivated panda, and he was born in July,
2005. Recently, the Chinese government decided to let him stay in the US
for another two years, for there are so many people who love him. The
pictures were taken on April 24, 2007, when the decision of Taishan's
staying was jointly annouced by Zhou Wenchong, the Chinese ambasssdor to
the US.

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Fuwa kite
Glass instruments
Folk song
Summer fashion

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Tuesday, January 29, 2008

Learn mandarin - Third World Kite Championship kicked off

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�� Chinese railway starts high-speed era

�� China should put an end to interest tax

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�� Third World Kite Championship kicked off

�� Snipers kill crocodile after death of child

�� Boao Forum for Asia 2007 opened

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Third World Kite Championship kicked off

www.chinanews.cn 2007-04-22 16:34:32

Around 40 teams of kite enthusiasts from more than 20 countries and
regions gather to compete for glory at the Third World Kite Championship
in Weifang in eastern China's Shandong province on Saturday, April 21,
2007.

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Summer fashion
Giant teapot
Miss Tourisms
Twin koalas

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Chinese language - Lien Chan attends Ancestor Worship Ceremony

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�� Chinese railway starts high-speed era

�� China should put an end to interest tax

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�� US students perform beside ancient Chinese city wall

�� Mandrill meets public in Huaibei

�� Fish Grabbing Match

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Lien Chan attends Ancestor Worship Ceremony

www.chinanews.cn 2007-04-19 16:27:59

Lien Chan, Honorary Chairman of the Kuomintang Party, and his wife Lien
Fangyu attended the 2007 Ancestor Worship Ceremony held in Xinzheng,
central China's Henan province, on Thursday morning, April 19, 2007.
About 26,000 people from home and abroad participated in the ceremony in
Xinzheng, the birthplace of Emperor Huangdi. Huangdi, or the Yellow
Emperor, was honored as the ancestor who helped bring Chinese
civilization into being.

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Summer fashion
Giant teapot
Miss Tourisms
Twin koalas

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Chinese Online Class - Rescue drill held in Beijing

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�� China realizes railway speed overhaul with its own technologies

�� Chinese railway starts high-speed era

�� China should put an end to interest tax

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�� Yangzhou ready for Int'l Tourist Festival

�� Summer fashion sweeps over HK

�� Flat Peach Temple Fair

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Rescue drill held in Beijing

www.chinanews.cn 2007-04-18 15:28:16

Beijing special police held a rescue drill April 18, 2007. The police
showed their excellent skills and tactics.

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Surname Wall
Miss Tourism
Little models
Fuwa hairstyle

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Chinese School - Statue of Emperors Yan and Huang finished

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�� Chinese railway starts high-speed era

�� China should put an end to interest tax

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�� Statue of Emperors Yan and Huang finished

�� Chinese intangible culture heritage shown at UNESCO

�� South China tiger to be trained in South Africa

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Statue of Emperors Yan and Huang finished

www.chinanews.cn 2007-04-17 11:08:22

The Statue of Emperors Yan and Huang has been completed in Zhengzhou,
central China's Henan Province, April 16, 2007. A grand inaugural
ceremony will be held on April 18. The statue is 106 meters high, with
the eye three meters wide and the nose eight meters long. Emperors Yan
and Huang, two emperors in ancient Chinese legends, are said to be the
earliest ancestors of the Chinese nation.

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Peach blossoms
Stadium demolished
Anti-theft
2007 Miss HK

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Monday, January 28, 2008

Chinese Mandarin - Housing price keeps soaring in Beijing

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�� Chinese railway starts high-speed era

�� China should put an end to interest tax

�� Keep a cool head about Chinese people's fastest income growth

  Photos

�� Indian fleet visits Qingdao

�� Peach blossoms on the Tiananmen Square

�� Liaoning Stadium demolished

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��Home>>Business

Housing price keeps soaring in Beijing

www.chinanews.cn 2007-04-14 15:03:07

Chinanews, Beijing, April 14 - According to a report by the Market News,
there is a great oversupply of commercial houses in Beijing at present.
Though the houses available in the market can meet the needs all through
2007, their price still keeps rising sharply. Nowadays, it is very
difficult to find houses cheaper than 8,000 yuan per sq m inside the
Fifth Ring Road.
Though the central government have composed a series of regulations to
control the housing price in Beijing, all of them have proved to be
ineffective at all. In last January and February, housing price in
Beijing leapt by nearly 10%.
Actually, the housing market is not that hot as it appears. In the first
two months of this year, only 9,935 and 5,372 houses were sold
respectively, while the figures in 2006 were 13,181 and 9,465
respectively. Obviously, demand does not exceed supply in Beijing's
property market.
"Unreasonable housing prices should definitely be blamed for the drop of
housing market in Beijing," said an expert. "The number of houses sold,
and their coverage are both dropping fiercely."
Take Dongcheng District as an example, where the average price for
ordinary commercial residences is some 21,600 yuan per sq m, but the
average disposable annual income of each resident here is only 20,665
yuan.
"I believe that the government should enhance the exercising of new
regulations to control housing price," said Wang Yumei, a professor of
China University of Political Science and Law.
Another expert think that people with invested-interest in the
overheating housing market are spreading fake information to misguide the
general public and to resist the regulations of the government.

��Housing price in big cities keeps rising
��70% of Beijingers believe housing price will keep rising

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Peach blossoms
Stadium demolished
Anti-theft
2007 Miss HK

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Learn Chinese online - 2007 Miss HK Pageant launched

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�� China should put an end to interest tax

�� Keep a cool head about Chinese people's fastest income growth

�� Generation of the 1980s pursues a material life

  Photos

�� Private museum displays history

�� Blind children touch spring in the park

�� Novel chocolates sell hot

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2007 Miss HK Pageant launched

www.chinanews.cn 2007-04-12 15:52:51

On April 11th, winners of previous Miss Hong Kong competitions took part
in a promotion event in Hong Kong, introducing the 2007 Miss Hong Kong
Pageant. Hong Kong officially launched the new round of the election of
Miss Hong Kong on April 11, 2007.

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Dragon dance
Spring
Jewelry Fair
Relief sculpture

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Chinese Online Class - China, ROK leaders vow to boost ties

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�� China should put an end to interest tax

�� Keep a cool head about Chinese people's fastest income growth

�� Generation of the 1980s pursues a material life

  Photos

�� First boer goat with somatic cell cloning tech born

�� Wulong Karst seeks world culture heritage listing

�� Shanghai Jewelry Fair kicked off

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��Home>>Politics

China, ROK leaders vow to boost ties

www.chinanews.cn 2007-04-11 09:04:51

(Source: Xinhua)

Visiting Chinese Premier Wen Jiabao (L front) shakes hands with the
Republic of Korea President Roh Moo-hyun during their meeting in Seoul,
capital of the Republic of Korea, April 10, 2007.

SEOUL, April 11 - Visiting Chinese Premier Wen Jiabao met with South
Korean President Roh Moo-hyun on Tuesday afternoon, with both sides
pledging to further bilateral ties.
During the meeting, the leaders vowed to strengthen strategic
communication and promote mutually beneficial cooperation.
They also agreed to make this year, which marks the 15th anniversary of
bilateral diplomatic ties and has been designated the China-South Korea
Exchange Year, a turning point for better relations.
"Thanks to the joint efforts in recent years, political trust between
China and South Korea has been deepened, exchange and cooperation have
been expanded, and coordination in dealing with regional and global
affairs has become closer," Wen said.
The ever-closer ties bring tremendous benefits to the peoples of both
countries and make a significant contribution to peace and development in
the Northeastern Asian region, Wen said.
Roh echoed Wen's comments, saying that through high-level cooperation and
fair competition, both countries could achieve development and maintain
common interests.
After the meeting, the two leaders attended a signing ceremony of four
cooperative documents.
Wen arrived here on Tuesday morning for his first-ever visit as premier
to South Korea. He will leave for Japan on Wednesday and is scheduled to
conclude his two-nation tour on Friday.

          ��Premier Wen eyes early FTA deal with ROK
          ��Wen expects to "melt ice" during Japan tour
          ��Premier Wen to visit ROK, Japan

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Learn Chinese online - Canyon exploration popular in Three Gorges

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�� China should put an end to interest tax

�� Keep a cool head about Chinese people's fastest income growth

�� Generation of the 1980s pursues a material life

  Photos

�� Canyon exploration popular in Three Gorges

�� National Kite Tournament kicked off

�� Root sculpture featuring a thousand monkeys

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Canyon exploration popular in Three Gorges

www.chinanews.cn 2007-04-09 14:58:58

Canyon exploration and all kinds of extreme sports have attracted flocks
of tourists to the Xialaoxi Grand Canyon of the Three Gorges. The steep
and mysterious natural canyon becomes an ideal resort for brave
travelers. The photos were taken on April 8, 2007.

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Sunday, January 27, 2008

Chinese Mandarin - Gong Li receives key to magnificent mansion

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�� China should put an end to interest tax

�� Keep a cool head about Chinese people's fastest income growth

�� Generation of the 1980s pursues a material life

  Photos

�� School shows kids childbirth film to teach respect for motherhood

�� World champions skate to wedding

�� "Imperial throne" to be moved to Imperial Palace

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Gong Li receives key to magnificent mansion

www.chinanews.cn 2007-04-07 18:54:26

Chinese actress Gong Li received the key to a magnificent mansion from
the real estate developer in Shanghai April 7, 2007. The mansion is the
most luxurious home in Shanghai, selling at US$8,000 per square meter.

Gong Li attended the mansion's unveiling ceremony in Shanghai April 7,
2007.

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Learn mandarin - Five Olympic consultants flew to Beijing

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hotos

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�� China's four upcoming population peaks

�� Chinese youth enjoying luxury goods

�� Chinese stock market at the end of rope?

  Photos

�� Fujian's Shuikou Dam sluices water

�� Flaming afterglow above Songhua River

�� Four generations of cycas in the same garden

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Five Olympic consultants flew to Beijing

www.chinanews.cn 2005-04-18 13:28:27

Chinanews, Beijing, Apr. 16 (By Wu Qingcai) - Today, the list of five
senior Olympic economic consultants was finally unveiled. The recruitment
drive had solicited applicants from all over the world since last
September. As soon as the five consultants from four countries accepted
the offer, they flew to Beijing and began to give advice on the upcoming
Olympic Games.
Four of the five senior Olympic economic consultants are foreigners. They
are Van Kerckhov from Belgium, Moris from France, Song Chenxiang and
Huang Wei from the U.S., and Qian Ying, who is now working at Asian
Development Bank (ADB), from China. These five consultants had gone
through a battery of tests and finally beat the other seventy top
candidates from nine countries to earn their keep.
The five experts all specialize in economics. Their responsibilities are
1) to research and draw up implementation plan to boost Beijing's
economic development by utilizing the occasion of the Olympic Games, 2)
study the Olympic Games' economic characteristics and its development
rules, as well as participate in setting the development policy for the
Beijing Games, 3) provide proofs, consultations, evaluation comments and
suggestions for the Beijing Municipal Commission of Development and
Reform when the latter make decisions on the Olympic economy and 4) take
part in the research on hot and difficult topics relating to Olympic
economics.
According to the Beijing Municipal Commission of Development and Reform,
the original salary�C500,000 Yuan annually�Chas been changed to a
contractor payment based on projects and tasks. The five consultants will
be paid according to their workload and quality handling different tasks
and solving problems. This payment method has been accepted by all five
consultants.

          ��Thousands sing for Olympics (2005-04-11)
          ��Beijing to build emergency medical treatment system for
Olympics (2005-04-04)
          ��BOCOG begins search for Olympic sponsors (2005-04-01)
          ��Beijing to reserve 22,692 hotel rooms for 2008 Olympics
(2005-03-31)
          ��Work on new Olympic stadium begins (2005-03-30)
          ��Olympics swimsuit (2005-03-29)
          ��Antelope tipped as Olympic mascot (2005-03-28)
          ��Olympic security work begins (2005-03-24)

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�� Fujian's Shuikou Dam sluices water

�� Flaming afterglow above Songhua River

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Tension over rising ore prices

www.chinanews.cn 2005-04-13 13:35:02

Chinanews, Apr. 12 - China Iron Ore 2005 and the 3rd Far East Steel
Conference were held in Beijing yesterday. Brazil's Companhia Vale do Rio
Doce (CVRD), Australia's Rio Tinto and BlueScope Steel Limited (formerly
BHP Steel Group), the world's largest iron ore producers, China Iron and
Steel Association and sixteen large Chinese steel producers gathered at
the China World Hotel to discuss iron ore prices.
On Feb. 22nd, Japan's Nippon Steel Corporation signed a long-term supply
deal with Brazil's CVRD that included a 71.5% hike in ore prices.
Following the move, Australia's BlueScope Steel Limited demanded the
addition of ocean freight costs to iron ore prices, which aroused
protests from Asian steel producers; the two sides have yet to reach an
agreement.
The conferences provide an opportunity for iron ore suppliers and steel
producers to communicate. During these most recent conferences,
representatives of the Chinese steel industry stated that Chinese steel
producers would rather reduce production than yield to unreasonable ore
prices. They further expressed that China was capable of dealing with a
71.5% price hike; but, short-term profiteering would only harm iron ore
producers, and iron ore prices should drop to a reasonable level.

          ��Iron ores prices may push up CPI (2005-04-08)
          ��China reacts to skyrocketing iron ore prices (2005-04-01)
          ��Steel enterprises face new crisis (2005-04-06)
          ��China abolishes export tax rebate on steel billet (2005-04-04)
          ��Steel makers to suffer heavy losses (2005-03-25)
          ��Steel prices to rise sharply in China (2005-03-02)

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Chinese Online Class - Lending rate hikes

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�� ADB: China's economy may achieve soft landing

�� Western food grows popular in China

�� NEET in China shirks independence

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�� KFC regains popularity

�� Chinese cuisine amateurs from Canada

�� Dinosaur egg fossil exhibit

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Lending rate hikes

www.chinanews.cn 2005-04-08 14:36:20

Potential house buyers in Beijing flocked to the 2005 Beijing Springtime
Real Estate Trade Fair on April 7th. Although the Bank of China raised
its house-lending rate again on March 17th, it failed to cool down
Beijing citizens' house-buying craze. According to a survey of former
real estate trade fair participants, 52% were unaffected by the lending
rate hike.

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Saturday, January 26, 2008

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�� NEET in China shirks independence

�� Majority of Chinese netizens dream of a cross-border marriage

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�� Global IPv6 Summit

�� Peace-keeping men returned

�� Focus of overseas banks

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Citigroup cited largest

www.chinanews.cn 2005-04-06 14:30:40

Forbes Magazine published The World's 2000 Leading Companies recently.
Citigroup ranked first with 1.484 trillion USD in total assets, followed
by General Electric, American Intl. Group, Bank of America and HSBC Group.

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�� NEET in China shirks independence

�� Majority of Chinese netizens dream of a cross-border marriage

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�� Peking opera decoration bar

�� 568m yuan for Turpan tourism

�� Zheng He project

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Fish bone pictures

www.chinanews.cn 2005-04-05 14:12:50

Ms. Liu Huirong of Guangzhou had a strange feeling in 1988 that she
wanted to draw pictures with fish bones. After more than ten yeas of
development and great concentration, she has created more than 300
exquisite fish bone pictures.

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�� Majority of Chinese netizens dream of a cross-border marriage

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�� Sichuan Province's Pujiang develops "tulip economy"

�� Cuju, Shandong's ancient football game

�� Visitors enjoy bamboo dance

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Gigantic dragon kites shown at Nanjing park

www.chinanews.cn 2005-04-04 14:44:24

Saturday, two more-than-310 meter-long dragon kites made their debut in
Nanjing Baima Park, building up momentum for the Peachblossom Kite
Festival to be held there soon. It is reported that, in order to make the
two kites, Mr. Li from Anhui Province employed workers and expended half
a month. Each kite consists of more than 300 small kites.

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Chinese School - Munich Arts Exhibit

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�� Online gambling challenges China's gambling ban

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�� China,Canada cooperate in network market

�� Auto Chongqing 2005

�� Large scale repairs begin on Summer Palace

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Munich Arts Exhibit

www.chinanews.cn 2005-04-01 14:18:28

The Munich Modern and Abstract Arts Exhibition opened at the Guangdong
Arts Museum on Mar. 31st. The exhibition was sponsored by the Guangdong
Arts Museum and the Academy of Fine Arts in Munich, Germany and assisted
by the German Consulate in Guangzhou. The museum showcased nearly 40
abstract works of 13 artists of varied cultural backgrounds.

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Friday, January 25, 2008

Learn Chinese - CPI growth rate would be 3%-3.5%

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�� Co-renting with opposite sex a trend in Chinese cities

�� Online gambling challenges China's gambling ban

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�� IFBA World Championship

�� Qing Dynasty house discovered

�� Millennium Ecosystem Assessment released

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CPI growth rate would be 3%-3.5%

www.chinanews.cn 2005-03-31 13:47:31

Chinanews, Mar. 31 - According to a report recently completed by a
research group of the Research Bureau of the People's Bank of China, in
the first half of this year, China's CPI (Consumer Price Index) growth
rate should reach 3.15% and stay at 3% to 3.5% for the whole year.
The report pointed out that major factors affecting price levels in the
future would be price adjustment of public service products, rapid
increases in residential income and consumption and a lagging PPI
(Producer Price Index). There are other factors. A investment rebound
would result in pressure on prices. A decline in the growth rate of the
currency supply and implementation of prudent currency policies would
have favorable effects on stabilizing prices. A rebound in the
international price level would bring about import inflation pressures.
And, inflation is expected to exist.

          ��China's CPI rose 3.9 0n Feb (2005-03-14)
          ��China's CPI to increase less than government forecast
(2005-03-09)
          ��China's CPI to rise 3.28 0n 2005 (2005-01-17)
          ��CPI expected to rise 4 0n 2004 (2004-12-10)

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�� Miss Teen Chinatown

�� Yao Restaurant & Bar opens

�� 80 Mickey Mouse sculptures on display

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Models display trousers without jackets

www.chinanews.cn 2005-03-29 15:03:29

The "Meng Su Ya" Women's Trousers Fashion Trend Collection A/W 2005-2006
was held in the Beijing Hotel on the evening of March 27th. Fashionable
designs and models brought a fresh new feel to this year's fashion
line-up.

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�� Online gambling challenges China's gambling ban

�� China is entering a post-GDP era

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�� 23.1m broadband user

�� Taoist music party

�� Baby swimming craze

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Computer controlled embroiderer

www.chinanews.cn 2005-03-28 14:49:15

The Beijing International Sewing Machinery and Accessories Show 2005
(BISMA) opened in Beijing on Mar. 27th. Many well-known enterprises
attended show, including Gerber Technology (U.S.) and Lectra (France).
The photo shows staff members of a Beijing company operating a
China-made, computer controlled embroidery machine.

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�� Online gambling challenges China's gambling ban

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�� 206-gram jumbo egg

�� Yellow River forestation

�� Exhibit of Stationery

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China, UK cooperate on energy exploration

www.chinanews.cn 2005-03-25 13:30:36

Chinanews, Beijing, Mar. 24 (By Jia Quanxin) - China National Offshore
Oil Corporation (CNOOC) and Primeline Energy Holdings Inc. of the U.K.
signed a contract of cooperative oil and gas exploration in the East
China Sea at the Great Hall of the People this evening, opening a new era
of energy exploration in the sea.
CNOOC and Primeline will jointly explore a 7006 square km 25/34 region of
the East China Sea, 75 to 95 meters deep and about 390 km southeast to
Shanghai. The contract specifies that Primeline will be responsible for
collecting seismic data and drilling during the exploration.
According to the contract, Primeline will be responsible for all costs
and risks during the exploration, and CNOOC will have rights to a maximum
of 51% of all commercial oil and gas discoveries in the area without
compensation.
It is reported that CNOOC is exerting all efforts to construct an
offshore natural gas pipeline network along the east coast of China, from
the Bohai Sea Economic Zone in the north via the Changjiang Delta
Economic Zone to the Pearl River Delta Economic Zone in the south.
Currently, CNOOC has established four major liquefied natural gas import
stations in Guangdong, Fujian, Shanghai and Ningbo and natural gas
distribution plants in Hong Kong, Liaoning, Tianjin, Shandong, Zhuhai,
Zhongshan, Ningbo, Shanghai and Hainan.

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Thursday, January 24, 2008

Learn Chinese - Spring tea harvest

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�� Online gambling challenges China's gambling ban

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�� Spring tea harvest

�� Chongqing monorail

�� Rickshaws to US

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Spring tea harvest

www.chinanews.cn 2005-03-23 13:54:25

Farmers were busy in Chongqing's Yongchuan City picking this spring's tea
harvest. Yongchuan City is reputed as "The Tea City of the West." Its
contiguous area of planted tea covers 20,000 mu (3,300 acres), the
largest in Asia.

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Learn Chinese - More old people buy cars

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�� Online gambling challenges China's gambling ban

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�� Man nationality wedding custom

�� Project to save Chinese folk heritage

�� Desire to make stock investments weakens

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More old people buy cars

www.chinanews.cn 2005-03-22 15:33:57

Car purchase by the elderly captured the spotlight of the 2005 Tianjin
Spring Auto Exhibition, which closed on Mar. 20th. Two years ago, traffic
management departments relaxed age caps, allowing 70 year-olds to apply
for licenses.

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Learn Chinese online - RMB appreciation: causes and consequences

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�� Co-renting with opposite sex a trend in Chinese cities

�� Online gambling challenges China's gambling ban

�� China is entering a post-GDP era

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�� Shanghai Real Estate Expo

�� Asia's largest bus exhibit

�� 19,600 yuan "Art of War"

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RMB appreciation: causes and consequences

www.chinanews.cn 2005-03-21 13:53:42

Chinanews, March 21 - Yesterday morning at the South China University of
Technology, Tang Guoxing, a professor at Fudan University's School of
Management, said that if the RMB appreciated, it would bring disastrous
consequences to both the central and commercial banks, and that about 22
million US dollars of foreign net assets would shrink.
During his talk on the Chinese currency, Tang indicated that the RMB is
facing four types of pressure: a lasting regular payment surplus, a high
yield rate on foreign capital in China, widespread expectations of the
RMB's appreciation, and China's low inflation rate. In Tang's opinion,
the first two factors are long-term and also the most important. Because
the two can't be dispelled, RMB appreciation is unavoidable. He believes
the latter two are short-term factors.
Tang also believes that China's capital inflow has resulted in potential
pressure on the RMB. However, the RMB's appreciation could bring with it
both advantages and disadvantages. The advantages include wealth
increases, reduction of the repayment burden on external debts and
promotion of the development of high-level industrial structure. The
disadvantages are primarily the reduction of international
competitiveness and the shrinkage of foreign assets.

          ��Expert: RMB will appreciate but no fixed timetable
(2005-03-10)
          ��No fixed timetable for reforming the RMB (2005-03-07)
          ��China to ease restrictions on RMB (2005-03-04)
          ��G7 meeting expected to find it hard to force RMB appreciation
(2005-02-01)
          ��Soros opposed excessive pressure on RMB (2005-02-01)
          ��Chinese minister to attend G7 to discuss the RMB (2005-01-28)
          ��Wrong timing for adjusting the RMB (2005-01-27)
          ��RMB Appreciation to create its own bubble? (2005-01-20)

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Learn Mandarin online - French photo exhibit

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�� Mainland China's richest man retains the discipline of a student

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�� Fast hydrofoil

�� Int'l Trade Show for Brands in Sports

�� Jan-Feb investment in urban areas rose 24.5%

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French photo exhibit

www.chinanews.cn 2005-03-17 14:13:27

(Mar.16) "Paris �� Shanghai: trois g��n��rations de photographes
Francais" (Paris in Shanghai: Three Generations of French Photographers)
held its opening ceremony at the Shanghai Art Museum. This is the first
time that the work of three generations of French photographers have
appeared in one show in China. The exhibition features 134 photos of 35
photographers. Among the pieces: masterworks of the older generation and
photos reflecting the technological advancements of the 1950s and 80s.
Above, spectators appreciate "Madonna on the floor of a red room."

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Wednesday, January 23, 2008

Chinese School - Shanghai's insurance market begins to rebound

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�� Transformation of the ideal Chinese woman

�� Mainland China's richest man retains the discipline of a student

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�� "Harry Potter" to be published

�� Tietong meets foreign telecom giants

�� Nanjing: Home Decoration Fair

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Shanghai's insurance market begins to rebound

www.chinanews.cn 2005-03-15 15:30:50

The Shanghai Regulatory Department of the China Insurance Regulatory
Commission released a not-on-the-spot supervision report on March 14th.
By the end of January, 2005, the insurance premiums of Shanghai's
insurance market reached 3.882 billion yuan, a year-on-year increase of
896 million yuan, up 30.01%. Of the total, property insurance accounted
for 1.564 billion, an increase of 621 million yuan, up 65.85%; 2.318
billion yuan was from life insurance, an increase of 275 million yuan, or
up 13.46%. The proportion of revenues from property insurance and life
insurance was 40 to 60, and the proportion of revenues from Chinese and
foreign insurance companies was 90 to 10.

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Chinese language - China's beer output and sales top the world

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�� Mainland China's richest man retains the discipline of a student

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�� Foreigners travel old Shanghai

�� Ping-pong puppet

�� Traditional costumes show

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China's beer output and sales top the world

www.chinanews.cn 2005-03-14 17:17:17

According to statistics, the output and sales volume of China's over 400
beer enterprises amounted to 29.1 million tons in 2005, up 15.2% year on
year. China continues to be the "biggest producer and seller of beer in
the world."

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Chinese language - Pollution control on Qinhuai River

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�� Transformation of the ideal Chinese woman

�� Mainland China's richest man retains the discipline of a student

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�� Fujian exports eight fishing boats

�� Starting point for global light relay

�� China reports trade surplus of 11.1b USD

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Pollution control on Qinhuai River

www.chinanews.cn 2005-03-11 14:30:56

(March 10) The first phase of a pollution control project for the Qinhuai
River came to an end. It was reported that Nanjing's investment in this
project amounted to 1.5 billion yuan. Recently, the National Development
and Reform Commission disclosed a plan to apply for loans from the Asian
Development Bank between 2005-2007. It has already approved 100 million
US dollars for Nanjing's pollution control on the Qinhuai River; this sum
would be invested in comprehensive control measures including sewage
treatment, riverbank rebuilding and sediment removal.

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Learn mandarin - Premier urges steady coal supply, work safety

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�� China is entering a post-GDP era

�� Transformation of the ideal Chinese woman

�� Mainland China's richest man retains the discipline of a student

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�� Literary four treasures

�� HK-Shanghai joint investment promotion seminar

�� Int'l Lighting Fair

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Premier urges steady coal supply, work safety

www.chinanews.cn 2005-03-10 09:32:35

(Source: Xinhuanet)

BEIJING, March 9 - Chinese Premier Wen Jiabao Wednesday urged China's
leading coal producer, the northern province of Shanxi, to further tap
its producing capacity and ensure steady coal supply for the country
while "resolutely preventing" the occurrence of any major accidents such
as gas explosions.
"Shanxi has an important role to play in the country's coal reserves and
output," said Wen Wednesday afternoon while joining in a panel discussion
of Shanxi lawmakers attending the annual session of the National People's
Congress (NPC), the top Chinese legislature, in Beijing.
Shanxi should strengthen the exploration of coal resources, speed up the
construction of large-sized coalmining bases and further tap the
producing capacity of existing coal mines, to ensure a safe and steady
coal supply that can meet the need of the country's economic development,
Wen told the lawmakers.
Meanwhile, Wen stressed that "nothing is more precious than human lives"
and that "top priority must be given to production safety at the coal
mines".
He called for greater investment to upgrade safety facilities and
infrastructure at the coal mines and a more strict implementation of the
"safety responsibility system", adding that at present the main attention
should be focused on the problem of coal bed gas, the top killer in
China's coalmine accidents.
"We must take more effective measures and resolutely prevent the
occurrence of any major gas-related accidents," said Wen.
Also on Wednesday, other senior Party and state leaders including
Chairman of the NPC Standing Committee Wu Bangguo, Vice President Zeng
Qinghong, Vice Premier Huang Ju and Secretary of the Central Commission
for Discipline Inspection of the Communist Party of China Wu Guanzheng
also joined lawmakers from all over the country in panel discussions.
At a panel discussion of the Qinghai provincial delegation to the current
NPC session, Wu Bangguo stressed the importance of adhering to and
further improving the people's congress system, which he called "the most
important channel" for the Chinese people to exercise their power as the
true masters of the country.
Zeng Qinghong exchanged views with the lawmakers from southwest China's
Yunnan Province on the "scientific concept of development" and the fresh
concept of "a harmonious socialist society" endorsedby the top Chinese
leadership.
"Yunnan has an important role to play in promoting the 'Great Development
of the Western Regions' and in safeguarding peace and stability in the
border regions," Zeng noted.
Joining in the discussion of the NPC delegation from south China's
Guangxi Zhuang Autonomous Region, Huang Ju called on all the lawmakers to
bring their legislative and supervisory roles into full play and
contribute to the building of a socialist legalsystem with Chinese
characteristics.
At the discussion of the Hunan provincial delegation to the NPC session,
Wu Guanzheng urged all leading officials to strictly abide by all
disciplinary rules and regulations of the Party and the government and
always be clean and honest. He also exchanged views with the lawmakers on
issues of how to improve the quality of the law-enforcement personnel and
how to safeguard and promote social justice.

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Tuesday, January 22, 2008

Learn Mandarin online - Foreigners study Chinese folk art

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�� Mainland China's richest man retains the discipline of a student

�� Female aesthetic undergoes quiet changes in China

�� Will China's economy catch up with America by 2046?

  Photos

�� Chang Hao wins chess championship

�� 54-kg. "2000 years of Chinese Buddhism"

�� Wooden movable type printing matrices discovered

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Foreigners study Chinese folk art

www.chinanews.cn 2005-03-08 14:17:36

Shanghai set up its first Chinese-foreign folk culture exchange
organization in residential communities of Xinjing Town on Sunday, and
carried out its first activities on the same day. The exchange
organization provides a convenient opportunity for foreigners in Shanghai
to learn Chinese culture and folk art. It mainly focuses on Chinese
calligraphy, painting, paper folding and traditional arts, and has been
warmly welcomed by Chinese and foreign residents in the community.

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Learn Chinese online - Chiru, mascot candidate for Beijing Olympic

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�� Blogosphere a new spiritual home for urban youths

�� IPO Pricing Inquiry is hurting, not helping, the market

�� 2004 Statistical Communiqu�� of China

  Photos

�� Women's Day celebration

�� Five-Star Red Flag rises over L.A.'s Chinatown

�� Year of the Rooster Stamps witness price hike

��Home>>Photos

Chiru, mascot candidate for Beijing Olympic

www.chinanews.cn 2005-03-07 14:27:35

On March 6, 2005, Caiga, director of the Management Bureau of the
Kekexili National Nature Reserve (Qinghai Province), made a speech on the
chiru (Tibetan Antelope) at the Capital Library in Beijing. The Tibetan
Antelope has been nominated as a mascot for the 29th Beijing Olympic
Games. In order to bolster chiru's chances, a festival of Qinghai folk
arts was held in Beijing that included special lectures and large
autographs.

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Chinese Mandarin - China sets tasks, measures for development

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�� Blogosphere a new spiritual home for urban youths

�� IPO Pricing Inquiry is hurting, not helping, the market

�� 2004 Statistical Communiqu�� of China

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�� Yarn Expo

�� Growing railroad market

�� Int'l education cooperation

��Home>>

China sets tasks, measures for development

www.chinanews.cn 2005-03-05 14:08:48

(Source: Xinhuanet)

BEIJING, March 5 - China revealed its tentative principal tasks and
measures for economic and social development in 2005 in a report
submitted to the National People's Congress (NPC), the top legislature,
Saturday to be examined and approved by NPC deputies.
The report on the implementation of the 2004 plan for national economic
and social development and on the 2005 draft plan for national economic
and social development, done by the National Development and Reform
Commission, calls for particular emphasis to be placed on work in the
following fields.
-- Continuing to strengthen and improve macroregulation to maintain
steady and rapid economic growth.
"We must ensure the proper focus and intensity of regulation, give full
play to the role of market forces and pay more attention to economic and
legal means in consolidating and building on our achievements in
macroregulation," says the report.
-- Beefing up agriculture, especially grain production, and raising
farmers' incomes. "We will continue to coordinate development of urban
and rural areas, promote agriculture through industry, develop rural
areas through urban development, and follow a principle of giving more,
taking less and loosening control. We will adopt comprehensive measures
to steadily increase grain output, agricultural efficiency and rural
incomes," says thereport.
-- Working hard to adjust the industrial structure and accelerating
industrial upgrading.
The report says China will accelerate the rejuvenation of the equipment
manufacturing industry, energetically develop new and high-tech
industries, promote optimization and upgrading of traditional industries
and accelerate development of service industries.
-- Vigorously changing the way the economy grows and pushing ahead with
resource conservation and environmental protection.
-- Making full use of the strengths and initiative of all regions and
promoting coordinated development of their economies.
-- Vigorously promoting all reforms to provide fresh impetus toeconomic
and social development.
-- Striving to raise the quality and level of opening up and making
better use of both domestic and international markets and resources.
-- Doing employment and social security work well and constantly
improving people's lives.
-- Promoting development of science, technology, education and all other
social undertakings and striving to build a harmonious socialist society.
"This year we have other important task to perform, formulating the
Eleventh Five-Year Plan (2006-2010) for National Economic and Social
Development and the Long-Range Program Through the Year 2020," the report
says.

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Learn Chinese - Art exhibit celebrates Anderson

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�� 2004 Statistical Communiqu�� of China

�� Astronomical child education costs in China

�� Inflation not a big concern for China this year

  Photos

�� Int'l Machine Tools and Mould Manufacturing Tech Exhibit

�� NPC & CPPCC Commemorative envelopes

�� 7m USD Lexus exhibit hall

��Home>>Photos

Art exhibit celebrates Anderson

www.chinanews.cn 2005-03-03 14:05:19

On Mar. 2, an exhibition of Chinese modern art was held at the China
Millennium Monument to celebrate the 200th birthday of Anderson. The
exhibition will also visit Denmark in the near future, as part of a
global celebration. The exhibition showcases more than 100 works of
Chinese artists from home and abroad. The artists have tried to put
Anderson's humor, wisdom and abstract conception into their work in an
effort to memorialize Anderson. The photo "Women's River" consists of 60
hanging wash-boards.

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Monday, January 21, 2008

Learn mandarin - 250b yuan spent on weddings

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�� 2004 Statistical Communiqu�� of China

�� Astronomical child education costs in China

�� Inflation not a big concern for China this year

  Photos

�� HK Int'l Jewelry Show

�� More rigorous inspection of imported fruits

�� Bond certificates issued

��Home>>Photos

250b yuan spent on weddings

www.chinanews.cn 2005-03-02 13:54:26

According to the Committee of Wedding Service Industries of the China
Association of Social Workers, nearly 10 million couples marry every year
in China, spending a total of 250 billion yuan annually. Sociologists
believe the wedding service industry shows great potential.

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Learn Mandarin online - China to help certain ethnic minorities shake off poverty

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�� Astronomical child education costs in China

�� Inflation not a big concern for China this year

�� Report predicts nation's development prospects

  Photos

�� Chinese Ambassador to US leaves after term

�� Heilongjiang: Wetlands became nature reserves

�� Chongqing's waterway freight volume tops all

��Home>>China

China to help certain ethnic minorities shake off poverty

www.chinanews.cn 2005-03-01 12:37:07

Chinanews, Feb. 28 - Mao Gongning, director of the Department of Policy
and Regulation of the State Ethnic Affairs Commission, said that the
government was formulating a developmental plan to help ethnic minorities
shake off poverty in six years, from 2005 to 2010. The Chinese government
plans to assist poor ethnic villages that have not had adequate food and
clothing to rise above poverty, help those that have had adequate food
and clothing reach middle-class or higher levels and facilitate fast
growing villages to scale higher economic plateaus.
Mao added that twenty-two of China's fifty-five ethnic minorities have a
total population of 630,000, less than 100,000 each. Most of these 22
groups live in remote areas, which make them the most disadvantaged among
all ethnic minorities. The Chinese government has added the support of
these groups to the Tenth Five-Year Plan, calling for special policies
for ethnic groups whose population is under 100,000.
At the Conference on Scaling-Up Poverty Reduction in 2004, the Chinese
government promised the world that it would strengthen its efforts to
support these twenty-two ethnic minorities, giving priority to poverty
reduction in their regions.

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Chinese Mandarin - Largest simplified-Chinese bookstore in Taiwan

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�� Inflation not a big concern for China this year

�� Report predicts nation's development prospects

�� How to rescue China's underperforming stock market

  Photos

�� Hong Kong Great Group promotes special delicacies

�� Andy Lau to be honoured in Hong Kong Int'l Film Festival

�� Wuxi holds investment seminar in Tokyo

��Home>>Photos

Largest simplified-Chinese bookstore in Taiwan

www.chinanews.cn 2005-02-25 14:43:09

The Shanghai Bookstore, the largest simplified-Chinese bookstore in
Taiwan, opened on Zhongxiao Road in Taipei on February 24, 2005. Almost
500 square meters in size, the Shanghai Bookstore boasts over 20,000
types of books, with total book volume reaching over 60,000.

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Learn Mandarin online - Two US airlines to launch new routes destined for China

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�� Inflation not a big concern for China this year

�� Report predicts nation's development prospects

�� How to rescue China's underperforming stock market

  Photos

�� The list of China's "Red tourism" published

�� Gezhouba to increase power generation capacity by 400,000 KW

�� Folk handicrafts draw crowds

��Home>>Travel

Two US airlines to launch new routes destined for China

www.chinanews.cn 2005-02-24 14:54:51

Chinanews, Washington, Feb.23 (By Sha Donghui) - The U.S. Department of
Transportation preliminarily approved applications filed by two US
airlines to launch two new routes to China.
Continental Airlines is expected to launch a non-stop passenger flight
from the Newark Liberty International Airport near New York to Beijing on
March 25 at the earliest, with one flight each day lasting 13 hours.
American Airlines, the largest airline in the United States, will also
commence operations of a new non-stop flight from Chicago to Shanghai.
On the same day the U.S. Department of Transportation also approved the
launch of another 12 US-China cargo flights every week, allowing FedEx,
UPS, Northwest Airlines and Polar Air Cargo to operate three flights each.
The approval was the fruit of the Sino-US agreement on expanding airline
services, which the two countries signed last June. According to this
agreement, both nations can increase the number of airlines operating
Sino-US routes from the previous 4 to 9, and both can increase the number
of flights from the current 54 to 249 by phases over the next 6 years.

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Sunday, January 20, 2008

Chinese Mandarin - HSBC to open high interest rates accounts

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�� Inflation not a big concern for China this year

�� Report predicts nation's development prospects

�� How to rescue China's underperforming stock market

  Photos

�� Embracing "rooster" pillows

�� China Inte'l Fishing Tackles & Trade Exhibition

�� US: New military robots

��Home>>Photos

HSBC to open high interest rates accounts

www.chinanews.cn 2005-02-22 16:01:42

It is reported that HSBC will open new high interest rate deposit
accounts, with interest rates as high as 8% in the first year. HSBC said
that only old clients of HSBC would get the opportunity to apply for the
high interest rate deposit accounts and they would need to deposit 25 to
250 pounds every month for a fixed term. HSBC expressed that it was
striving to make its deposit rate higher than its competitors.

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Learn Chinese - Changbai Mountain of Jilin

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�� Report predicts nation's development prospects

�� How to rescue China's underperforming stock market

�� Ma Kai: China's economy and macro-control policy

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�� Spring Festival charter flights completed

�� Various steamed breads: edible artwork

�� World-famous cars vie with each other for glamor

��Home>>Photos

Changbai Mountain of Jilin

www.chinanews.cn 2005-02-21 15:05:42

Changbai Mountain is the most important mountain in the Guandong area,
enjoying equal fame with the Five Sacred Mountains by virtue of its
magical charm and splendid scenery. It is a mysterious and charming
mountain. When the spring breeze brings warmth to this area, thousands of
trees at the foot of the mountain turn green at the same time, while the
mountain peak is still covered by white snow, like a slim and graceful
fairy maiden elegantly standing in the boundless sea of woods, or like a
snow lotus in full bloom, standing out among thousands of green trees.
There are countless natural treasures in the thick forest, with gigantic
ancient trees and vegetation that blot out the sky.

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Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� How to rescue China's underperforming stock market �� Ma Kai: China's economy and macro-control policy �� China's petroleum import dependency to top 50% in 2010 Photos �� National voluntary blood donor prizes �� Shenyang: New Year Lantern Festival �� Central Bank asks for public comments ��Home>>Photos Inter-bank card transaction volume exceeded 8b yuan www.chinanews.cn 2005-02-17 15:52:53 According to data from the China Unionpay office on Feb.16, 2005, during the 2005 Spring Festival, the volume of bankcard transactions continued to rise sharply. From Feb. 9 to Feb. 15, the number of inter-bank transactions using different bankcards in China reached 25.2 million, with total transaction amount reaching 8.04 billion yuan, 1.6 and 1.7 times respectively that of the last Spring Festival period. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Learn mandarin

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Ma Kai: China's economy and macro-control policy �� China's petroleum import dependency to top 50% in 2010 �� How should foreign investors manage risks of policy changes in China? Photos �� "Chocolate car" dazzles Xi'an �� Tokyo International Boat Show displays a "never sinking boat" �� 100,000 people flocked to the Dragon Pond Temple Fair ��Home>>China Observer How should foreign investors manage risks of policy changes in China? www.chinanews.cn 2005-02-16 13:35:10 Chinanews, Feb. 15 - China's macro economic controls in 2004 alarmed some people and industries. However, foreign funded enterprises persisted in following their own judgement and principles of operations, and seized opportunities presented by the macro control policies, thereby obtaining excellent development prospects. There was even optimism that the existing situation of competition among foreign funded enterprises and Chinese funded enterprises could be changed. According to Sun Hongwei, president of Rong International's China office, the scientific development view will dominate the Chinese economy. Guided by this view, the Chinese government will gradually add to its understanding of market behavior, reduce use of administrative measures, and find an effective way of implementing economic policies suitable in the Chinese context and also in line with international standards. Foreign investors should try to understand trends in the Chinese market against this backdrop. As to how foreign investors should manage risks of policy changes in China at a time of economic changes, Sun made several suggestions as follows: Firstly, a number of major foreign investors have their own professional research teams and theories directed at the Chinese market. However, most foreign investors do not have such proprietary resources. Therefore, it would make all the difference for them to have effective and professional advice from an independent consulting firm. They can get advice from independent foreign-funded research institutes, local consulting groups, the investors themselves, and government publications. Secondly, when confronting the policy adjustment and trend of changes, foreign-funded enterprises should gradually develop their ability of forming independent opinions, have a clear understanding of the essence of China's economic policies and rely on their own judgment in handling their own investment portfolios. Thirdly, foreign-funded enterprises should gradually retreat from speculative activities. In the near future, speculative behavior of foreign-funded enterprises would be directly hit by macro-controls and various related macro economic policies. Some privately-run enterprises have already been clamped down by such policies. This is a reminder for foreign-funded enterprises to minimize speculation and reduce capital risk. Moreover, they should also strive to seek the best investment vehicle. Recently, China's reforms of state-owned enterprises constantly involved offering an olive branch to foreign investors. According to Sun Hongwei, the Chinese government is currently willing to sacrifice part of its benefits in exchange for internationally advanced management experience and operations. For foreign investors, this is the best way to enter the Chinese market. He felt that the best choice for foreign investments to enter the Chinese market is to actively participate in the government-mandated industrial integration, as long as they do not violate China's economic principles. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Chinese Mandarin

Saturday, January 19, 2008

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Should foreigners be allowed to join China's civil service? �� Environmental protection at a crucial moment �� Why are Chinese disinclined to show wealth? Photos �� Views of the West Lake �� Cows that have "beepers" �� Costumes from the Guizhou Miao nationality ��Home>> China has more private business owners www.chinanews.cn 2005-02-04 15:20:40 Chinanews, Feb. 3 - Results of the 2004 national survey on private enterprises were released by the Chinese authorities on February 3. According to statistics that China News had obtained earlier, the country's private enterprises showed a trend of rapid expansion and were becoming more closely connected to the mainstream society. This authoritative survey was the sixth of its kind. It showed that by the end of the first half of 2004, there were 3.34 million registered private enterprises in China, an increase of 1.31 million over 2001. Areas with the most rapid development and largest number of private enterprises were mainly located in the eastern coastal region. In particular, Jiangsu, Guangdong, Zhejiang, Shanghai, Shandong and Beijing took the top six spots, with over half of China's private companies. Currently in full expansion, private companies are growing pluralistic in main industrial sectors while emerging in many other sectors as well due to easier market access. In addition to the rapidly increasing proportion of those in new sectors such as social services as well as scientific research and technology, 4% of private firms are in education, culture, health and sports, and 1.6% are in public utilities such as electricity and gas. Moreover, headquarters and production bases are gradually moving from rural and suburban areas to large cities. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Learn mandarin

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Should foreigners be allowed to join China's civil service? �� Environmental protection at a crucial moment �� Why are Chinese disinclined to show wealth? Photos �� Fashionable home accessory �� Mini TVs equipped in hospital rooms �� 5.5b yuan to award major grain-producing counties ��Home>>Photos Fashionable home accessory www.chinanews.cn 2005-02-03 15:27:45 On February 1, in a handicraft store at the Nanjing Confucius Temple, a lapis lazuli decoration with a hidden staircase named "rise every step" attracted many customers. As Chinese New Year approached, this decorative article symbolizing fortune and prosperity became a very hot item as soon as it entered the market. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Free Chinese Lesson

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�� Environmental protection at a crucial moment

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�� Four thousand lanterns lit up

�� Petty cash pouches with an assortment of designs

�� American Chinese donated money to tsunami victims

��Home>>

Russia to build oil pipeline to China

www.chinanews.cn 2005-02-02 15:12:49

Chinanews, Feb.2 - The mist surrounding the secretive visit of Russia's
Minister for Industry and Energy, Viktor Khristenko, to China in January
has finally been cleared. The reason for Mr. Khristenko's visit, acting
as envoy of the Russian government, is to promise the Chinese government
that Russia would build an offshoot of its Siberian oil pipeline to
China, following Russia's earlier announcement that the Siberian pipeline
would not target China's Daqing as its destination.
During a weekend in the middle of last month, Victor Khristenko led the
Russian Petroleum Company to make a low-key visit to China. The content
of this secret visit had remained undisclosed. However, Mr. Khristenko
recently revealed the underlying reasons for his visit at a press
conference that was held after his return to Russia. When asked if any
consensus was reached between the Russian and Chinese sides, Mr.
Khristenko said, "the President and Premier's decisions will be carried
out. Oil will flow toward China."
What deserves special attention here is the phrase "flow toward" that was
used by Mr. Khristenko, which indicates that Russia will transport oil to
China by pipelines instead of rail. Generally speaking, it is much more
efficient and safer to transport oil by pipelines than by rail.
Russia's prior focus was to use railways to transport oil, but in
reality, this method was unable to meet the surging domestic demand for
petroleum in China. Russian state-owned Rosneft Petroleum Company
revealed on January 31st that they would be taking the place of domestic
private oil giant Yukos that had been monopolizing oil shipments to China
and would be sending 50,000 tons of oil to China by rail for the first
time.
It is believed by some people that the Russian minister visited China
secretly this time with the direct objective of reassuring China after
its disappointment with the Putin government over the Siberian oil
pipeline issues.

          ��CNPC to spend 6b USD on Russian crude oil (2005-01-31)
          ��Sinopec enters the U.S. oil market (2005-01-25)
          ��China crude oil shortage to be over 3m barrels a day in 2008
(2005-01-19)
          ��China imported 120 million tons of crude oil last year
(2005-01-13)
          ��Sinopec adjusted oil prices again (2005-01-04)
          ��Large oil reserves found in Bohai bay (2004-12-24)

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�� Gigantic tugboat in service in Rizhao Port

�� Beijing: Folk clay figure exhibition

�� Tianchi of Changbai Mountain

��Home>>Photos

9,999 yuan for the 1st New Year strikes of bell & drum

www.chinanews.cn 2005-01-31 17:54:40

On January 28, 2005, an auction for the naming right of the "2005 Lingyan
Praying Fest" and the first strikes of the bell and the drum in the New
Year were held in the millennium-old Lingyan Monastery in Changqing
District of Jinan. The Pearl New World Square Group finally won the bid
for 9,999 yuan, beating 6 other bidders and earned the naming right, the
"first bell" and the "first drum" in the New Year. The bell and drum
referred in the auction were built on the sixth Zhengtong Year of the
Ming Dynasty (1368-1644). The organization revealed that all the auction
income would be used for protection of historical relics.

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Friday, January 18, 2008

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Why are Chinese disinclined to show wealth? �� Rapid growth in China's foreign reserves is rational �� RMB Appreciation to create its own bubble? Photos �� Gifts on Taiwan's CAL charter flight �� Beijing: the Rooster Amusement Park for children �� China's auto demand will reach 5.8m units ��Home>>Photos Crew on Taiwan's Eva Air flight www.chinanews.cn 2005-01-29 09:20:17 Crew on Taiwan's Eva Air flight E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Chinese School

Learn mandarin - Lanterns hung Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Why are Chinese disinclined to show wealth? �� Rapid growth in China's foreign reserves is rational �� RMB Appreciation to create its own bubble? Photos �� Dolls for Valentine's Day are hot early �� Water lilies in Baiyangdian �� 100 pieces of carat weight diamonds on touring sale ��Home>>Photos Lanterns hung high www.chinanews.cn 2005-01-27 15:37:31 With the Spring Festival approaching, shop owners hung up big red lanterns inside and outside department stores to create a festive atmosphere. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Learn mandarin high

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Rapid growth in China's foreign reserves is rational �� RMB Appreciation to create its own bubble? �� More and more Chinese are making a living online Photos �� Macau renovated the Old Ladies' House �� Tourists are captivated by the rime at Jinlin �� Chinese New Year Sing Along Concert "live" in US ��Home>>Photos 11 private cars for every 100 Beijing residents www.chinanews.cn 2005-01-26 14:07:59 The latest statistics from the Beijing Municipal Bureau of Statistics show that there were 1.298 million private cars in Beijing by the end of 2004. That is equivalent to 11 private cars for every 100 Beijing residents. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Chinese language

Learn Chinese - Gold and diamond cart in HK

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P
hotos

��Search

  China Observer

�� Rapid growth in China's foreign reserves is rational

�� RMB Appreciation to create its own bubble?

�� More and more Chinese are making a living online

  Photos

�� 0.5-kg silver coin for the Year of the Rooster

�� Beijing's peddling king is accepting apprentices

�� Smoking room at the Beijing Railway Station

��Home>>Photos

Gold and diamond cart in HK

www.chinanews.cn 2005-01-24 18:04:47

On January 21, the Hang Fung Gold Technology Group and Henderson Land
Development Company Limited jointly held an event in Hong Kong's
International Finance Center to display the latter's luxury villas, and
the former's gold and diamond jewelry. A gold and diamond-inlaid cart,
which was named "Flying High in Dreams" and valued at 60 million HK
dollars, highlighted the event.

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Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service

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Thursday, January 17, 2008

Learn mandarin - China to start Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� Rapid growth in China's foreign reserves is rational �� RMB Appreciation to create its own bubble? �� More and more Chinese are making a living online Photos �� Simulation of ticket purchase for the 2008 Beijing Olympics �� 28-year-old farmer made a helicopter �� Zhejiang sold 800m pairs of shoes overseas ��Home>>Photos China to start barcode tracking system www.chinanews.cn 2005-01-21 16:38:32 The congress of the Consultative Committee under the EAN International held a press conference in Beijing yesterday. Lopera (left), CEO of the EAN International, made a statement that it was imperative to use the global uniform coding system to track and trace the whole process of the food supply chain, given that there were huge volumes of food exports from China to the European Union and the United States. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Learn mandarin barcode tracking system

Learn Mandarin online - 382-meter-high observation deck that overlooks Taipei Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� RMB Appreciation to create its own bubble? �� More and more Chinese are making a living online �� China rectified cultural relic circulation Photos �� An eighty-five-year-old Russian lady swam in winter Harbin �� Electric "plutus" in Hong Kong �� Yoga craze ��Home>>Photos 382-meter-high observation deck that overlooks Taipei www.chinanews.cn 2005-01-20 16:07:05 The observation deck of the Taipei 101 Tower begins its operation today. The picture shows a bird's eye view of Taipei as seen from the 328-meter-high observation deck. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Chinese School

Chinese Mandarin - Nearly 200 Asian black bears obtained freedom

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P
hotos

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�� More and more Chinese are making a living online

�� China rectified cultural relic circulation

�� One-child generation look at marriage differently

  Photos

�� Farmers' Arts Festival in suburban Beijing

�� Roses netted for Valentine's Day

�� Gigantic "roosters"

��Home>>Photos

Nearly 200 Asian black bears obtained freedom

www.chinanews.cn 2005-01-19 16:54:27

In 2000, the Animal Asia Foundation (AAF), China Wildlife Conservation
Association (CWCA) and Sichuan Province jointly launched a campaign
called "Black Bears Rescue", to save those Asian black bears that were
locked up in bear parks. So far 195 Asian black bears have recovered and
are living a healthy and free life in the Black Bear Care Center located
in Longqiao of Chengdu City.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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Chinese language - Free shoe-polishing machine

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P
hotos

��Search

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�� China rectified cultural relic circulation

�� One-child generation look at marriage differently

�� Chinese tax revenues rose sharply

  Photos

�� Chinese paper-cuts hung in duty-free shops in Los Angeles airport

�� Popular Jingdezhen porcelains

�� Super-stretched jeeps in the United States

��Home>>Photos

Free shoe-polishing machine

www.chinanews.cn 2005-01-17 17:23:49

(Jan 16, 2005) In the Xinglong Happy Family in Zhongjie Street of
Shengyang lays a free shoe-polishing machine. Although a warning notice
reading "Free polishing at your own risk" is attached to the machine,
many customers flocked to take advantage of a free shoeshine.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service

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Wednesday, January 16, 2008

Learn Chinese online - China��s tourism saw over 100m incoming visitors

Home Business China International Culture��Edu Sci��Tech Sports Life Travel P
hotos

��Search

  China Observer

�� China rectified cultural relic circulation

�� One-child generation look at marriage differently

�� Chinese tax revenues rose sharply

  Photos

�� China Southern Airlines ranked world top ten

�� Fake firecrackers, a popular decoration

�� China��s tourism saw over 100m incoming visitors

��Home>>Photos

China��s tourism saw over 100m incoming visitors

www.chinanews.cn 2005-01-14 15:52:29

It is learnt that the various indicators for the tourism industry in
China achieved new records again in 2004, and the industry has also
experienced a full recovery and obtained excellent results. In 2004, a
total of 108 million tourists were received into the country, up 18% and
10% respectively from 2003 and 2002. The incoming tourists who spent at
least one night in the country reached 41 million people, up 24% and 11%
respectively from 2003 and 2002, and it is thus hopeful that China will
surpass Italy to occupy fourth position in the tourism world.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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Chinese School - Regulator to expand QDII quota

BIZCHINA / Center

Regulator to expand QDII quota

By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-07-05 16:12

China's foreign exchange authority will grant more overseas investment
quotas to qualified domestic institutional investors (QDII), China
Business News reported today, citing a senior forex official.

Li Dongrong, deputy director of the State Administration of Foreign
Exchange, the country's forex watchdog, said yesterday in Hunan Province
that China has granted overseas investment quotas totaling US$20.5
billion to a total of 24 QDIIs so far.

Special coverage:
Markets Watch
Red Chips Return

Related readings:
ICBC raises $585m in China's largest QDII fund
First fund managed QDII product seeking go-ahead
QDII expanded to include securities, fund companies
Limits on QDII's H-share investment to ease

Specifically, 19 banks have been approved to buy foreign exchanges worth
US$14.8 billion on behalf of their clients for overseas investment, and
four insurers and one fund company have been granted quotas of US$5.2
billion and US$500 million respectively.

Li also said that the amendment to management measures on insurers'
foreign investment had been completed and the revised regulation will be
released soon.

Currently, banks, securities companies, funds and insurance companies are
allowed to invest in stocks and funds in overseas markets.

Morgan Stanley China strategist Jerry Lou said overseas investment was
less attractive for domestic investors due to a bullish stock market in
China and the still high expectation of the yuan appreciation.

Frank Gong, an economist of JPMorgan Securities, said nearly US$100
billion will be invested in overseas markets through a QDII scheme in a
few years.

"China's current account surplus is more than US$250 billion annually,
and the government must expand the outflow of foreign exchange if it
wants to relieve the appreciation pressure of the yuan," Gong said. "The
QDII is a good and effective channel to invest China's forex."

(For more biz stories, please visit Industry Updates)

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Learn Chinese - A sweet tooth for luxury goods

BIZCHINA / Biz Life

A sweet tooth for luxury goods

(South China Morning Post)
Updated: 2007-07-04 11:40

"What to buy and not to buy is imbued with social meaning. Consumer goods
become a kind of social currency that is transacted in middle-class life."

For the mainland's emerging middle-class urbanites, you are what you
consume. They own their own home and car, travel abroad, and show an
unabashed preference for top brands and luxury goods.

Yang Qingshan, president of the China Brand Development and Strategy
Association, said that about 13 per cent of the mainland's population, or
170 million people, bought top-tier brands.

Ms Cai, a designer whose annual household income amounts to around
400,000 yuan, said she rarely hesitated when purchasing Debauve & Gallais
chocolates.

"I simply cannot put supermarket chocolates into my mouth any more. They
taste too sugary and awful," she said.

"Their prices are a little staggering but, hey, I can allow myself a few
hobbies and indulgences and that's what life is all about."

The mainland's newly rich are relaxed, fun-seeking and lapping up luxury
goods fast. A recent report from US investment bank Goldman Sachs found
the country is the world's third-largest consumer of luxury goods,
accounting for 12 per cent of global sales, behind Japan's 41 per cent
and 17 per cent for the US.

The report predicted that the mainland would become the world
second-largest purchaser of luxury goods by 2015, commanding 29 per cent
of such sales.

Debauve & Gallais director Bernard Poussin is one foreign investor who
says he is "totally confident" about the mainland's luxury market.

"Larger and larger social inequalities are generating a pyramidal market
structure," Mr Poussin said. "At the top, elite members of society can
afford the most expensive stuff, while the bottom ranks are anxious to
copy their way of life."

The chocolatier is so confident its pricey chocolates will get gobbled up
by rich Beijingers, even at 4,000 yuan a kilogram, that it upgraded its
World Trade Centre sales booth into a boutique the end of May, and
decided to open a second shop in Beijing's Financial Street - the
capital's answer to Wall Street - in October.

The family business, where techniques and recipes have been handed down
through the generations, has opened six overseas shops so far, and Mr
Poussin said the Beijing shops were in a key strategic position.

"China is the open door to Asian markets, our ambition is to become the
reference point," he said.

1 2 3 

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Chinese Mandarin - CSI 300 Sector indices debut

BIZCHINA / Center

CSI 300 Sector indices debut

(chinadaily.com.cn)
Updated: 2007-07-02 14:33

The China Securities Index Co Ltd (CSI Ltd) officially unveiled its CSI
300 Sector indices today. The indices are compiled according to
international investment criteria and will further improve the CSI 300
Index system, says the China Securities Journal.

The sector indices cover 10 industries. They are CSI 300 Energy index,
CSI 300 Materials index, CSI 300 Industrials index, CSI 300 Consumer
Discretionary index, CSI 300 Consumer Staples, CSI 300 Health Care index,
CSI 300 Financials index, CSI 300 Information Technology index, CSI 300
Telecommunication Services index and CSI 300 Utilities index.

Special coverage:
Markets Watch
Red Chips Return

Related readings:
New CSI subsidiary indexes will be launched
A plus H index to be launched soon Stock indices get new rules

The sector indices will follow the same standard as the CSI 300 Index in
terms of calculation and maintenance. Constituents of the sector indices
are also adjusted every six months to keep up with the pace of the CSI
300 index adjustment, according to an official with CSI Ltd.

The official said that the sector indices could provide investors with
better analyzing tools to measure the performance of different sectors
within the CSI 300 Index. The norm of its classification and calculation
is widely accepted in the international market, and will meet the needs
of both domestic and foreign investors. In addition, financial
derivatives like ETF funds and index futures could also be developed
based on indices in the future.

Launched in 2005, the CSI 300 Index has become one of the most
influential indices covering both Shanghai and Shenzhen markets. By the
end of June, there was 300 billion yuan worth of mutual funds with their
performances evaluated based on the CSI 300 Index. Fund management
companies like Dacheng and Penghua also developed investment products
worth billions of yuan, tracking the Index as their investment objective.

In addition, the CSI 300 Index also becomes noted in overseas capital
markets. CSI Ltd has authorized several foreign institutions to design
and sell products developed based on the index. Meanwhile, the first
overseas ETF fund tracking the CSI 300 Index will be listed on the Hong
Kong Securities Exchange in mid July.

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Learn Chinese, Chinesepod

Tuesday, January 15, 2008

Chinese School - Inflation a real threat for less privileged

BIZCHINA / Weekly Roundup

Inflation a real threat for less privileged

By Wang Lan (China Daily)
Updated: 2007-06-28 17:11

People buy fresh pork at a supermarket in Zhengzhou, capital of Central
China's Henan Province. The price of pork has risen sharply over the past
couple of months, contributing to rise in the consumer price index.
[newsphoto]

The economy has seen a double-digit growth for a few years now. So the
3.4 percent rise in the CPI, or consumer price index, in May should not
pose that big a problem, many experts and analysts would say. But ask the
less privileged people, and you get a totally different picture about
life because inflation for them is a real threat.

To understand their worries, it's important to recognize the driving
force behind the current round of inflation: rising food prices. As such,
the traditional weapon against inflation has proved mostly ineffectual -
because the inelastic demand for food is insensitive to all monetary
measures.

Contrary to popular belief, raising the interest rate and other measures
to tighten liquidity won't check inflation because the CPI is driven
largely by consumers' demand for food rather than the aggregate demand of
society. In fact, such measures could even increase inflationary pressure
by raising the cost of doing business in China.

A slight rise in the CPI above 3 percent, generally accepted as the
starting point of inflation, may not be felt much in the urban areas. But
underprivileged people living in less developed areas know what it means.
For instance, life for jobless laborers in Jiamusi has become even more
difficult after the rise in food prices. That's because a family of three
in the medium-sized city of Northeast China's Heilongjiang Province can
get only up to 500 yuan a month as unemployment benefit.

"We have to cut our daily consumption of pork and eggs. An extra 8-10
yuan for a kg of pork make a lot of difference for my family. It makes
our life more difficult," says a laid-off worker. In the past two months,
the price of pork in Jiamusi has jumped 58 percent to 20 yuan a kg, and
soybean oil costs 28 percent more that it did a year ago.

It's not that people in big cities such as Shanghai don't feel the pinch.
Many people in the country's commercial capital are making long trips to
wholesale markets because they can buy foodstuff and other products at
10-20 percent less than what they have to pay in neighborhood shops. "The
money we save is worth the extra effort," says a middle-aged woman. Lower
prices are not enough for her because she visits the market late in the
day to avail of all the possible discounts.

Special coverage:
Interest Rate Hike 

Related readings:
China warns of inflation pressures 2007 inflation to be around 3% -
official
Food price hikes lift CPI to 3.4% Nation mulling higher subsistence
allowances

Some people even buy food products from the gray market to save money,
and thus put their health at risk. "But I don't have a choice," says a
woman surnamed Deng, who works as a cleaner in a city business center.
And thankfully, "none of us has fallen ill so far", she says.

More cautious shoppers, and those who can afford it, have no option but
to increase their spending on food products. Britain-based TESCOLegou,
one of the world's biggest retailers, has raised prices of food products
in all its 17 supermarkets in Shanghai from April. Among the six major
food products that are costlier are pork (30 percent more), eggs (15
percent), grains and edible oil (about 10 percent). "We have raised
prices of food products in proportion to the increase in our purchase
prices," says TESCOLegou purchase department employee Tang Tian.
Higher food prices have hurt hotels and restaurants, too. "The prices of
the main ingredients in our buffet meals have risen. But we have to bear
the extra cost because we cannot raise the prices," says Shenzhen-based
Pavilion Hotel staff Nancy Zhang. The reason is simple: raise prices and
lose customers.

1 2 

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Learn Chinese - China textiles hit

BIZCHINA / Impacts

China textiles hit

(Agencies)
Updated: 2007-06-27 10:11

China's decision to cut or do away with export tax rebates for over 2,800
items from July 1 will affect the profit margins of many industries,
including textiles.

Chinese companies are rushing to meet their export commitments. They are
worrying about the future industrial strategy, reports said. "There has
been a lot of talk about tax rebate cuts since June. So, most
manufacturers are operating at full capacity, expecting to export as much
as possible before the deadline," an official from an export firm said.

Shipment schedules are full till July 1, a freight agency in east
China��s Jiangsu province said, adding that freight cost has rocketed
because of increased demand.

The move is an effort to "suppress overheated export growth and ease
frictions between China and its trade partners," the ministry of finance
said.

The last export-tightening move, which imposed extra export tariffs and
cut import duties, led to an export boom, boosting May's trade surplus by
73 per cent to $22.45 billion over the corresponding period in the
previous year.

This time the policy was announced just 10 days before it came into
effect and manufacturers with full order books have little possibility of
increasing production, Chinese media reports said.

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Learn mandarin - Don't hold breath for property supply drop

?  ?

BIZCHINA / Center

Don't hold breath for property supply drop

By Chen Weihua (China Daily)
Updated: 2007-06-26 08:28

To find out if land prices are driving up property prices, all you need
to do is look at the bidding for a plot of land in Shanghai last Thursday.

The Greentown Real Estate Group from East China's Zhejiang Province paid
1.26 billion yuan for a 59,253-square-meter plot in the city's northeast
new Jiangwan area.

That's an average floor space price of 12,500 yuan per square meter,
excluding construction and other costs.

It is the highest land price recorded in the area and it is twice as
expensive as another neighboring plot bought by China Resources last year.

Related readings:
?Property investment grows 27.5% in 1st 5 months
?Heavy taxes on developers proposed?Housing, a too heavy burden
?Property price growth in May quickens; Up 6.4% on year
?Crusade won't cool property market

Greentown Real Estate beat out rivals such as Wing Tai and Capital Land
from Singapore, Orient Overseas from Hong Kong and Vanke and Gemdale from
the mainland.

While some people may still blame Tomson Riviera, the most expensive
apartment complex in China, for driving up housing prices, it is believed
that last week's bidding will ignite another round of price hikes.

The limited supply of land in downtown Shanghai propelled developers to
fight viciously for the Jiangwan plot last week. Their fervor is fueled
by speculation that land prices are only going up.

It's estimated that the property built on the Greentown land will be sold
for at least 22,000 yuan per square meter, compared with the average
15,000 yuan selling price in the area now.

While the price hike will be a big headache for home-buyers and possibly
the developer, which has yet to find a way to sell it, the local
government, which auctioned the land, is the largest beneficiary.

It's true that land price is not the only reason for rising housing
prices, but it is surely an important driving force.

So as long as local governments that control scarce land resources remain
interested in raking in profits from selling them, lower housing prices
will remain wishful thinking.

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Chinese Online Class - Shell invests in Asia's biggest lubricants facility

BIZCHINA / Overseas Investment

Shell invests in Asia's biggest lubricants facility

By Chen Hong (China Daily)
Updated: 2007-06-23 08:51

ZHUHAI: Shell will build a new lubricant blending plant in this southern
coastal city, the company said on Friday.

The first phase will be built by the fourth quarter of 2008 and be ready
for operation the following year, said John Dain, president of the China
lubricants section of Shell (China) Ltd.

The new development will be the Dutch energy giant's largest lubricant
blending plant in Asia, with an eventual annual production capacity of
400 million liters, Dain said.

It will produce consumer, transport, industrial and marine lubricants,
including engine oils for both cars and trucks. The products will supply
the fast-growing South China market.

"The new plant will allow us to get close to the core market of China,
offering better services to customers and meeting growing demands
quickly," said Dain.

The new plant is Shell's first lubricant blending facility in South
China. The company expects the region's demand to grow at over 10 percent
a year.

Shell became the third-largest lubricants provider to China after
acquiring local brand Tongyi late last year.

The new plant will blend both Shell and Tongyi branded lubricants, each
accounting for around 50 percent of production.

(China Daily 06/23/2007 page10)

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Monday, January 14, 2008

Chinesepod - Central bank orders measures to prevent market risks

BIZCHINA / Policy

Central bank orders measures to prevent market risks

By Shangguan Zhoudong (chinadaily.com.cn)
Updated: 2007-06-20 10:01

The central bank's Shanghai headquarters yesterday issued a report
warning investors to prevent market risks caused by changing
expectations, National Business Daily reports.

Related readings:
China should boost direct funding channels
China raises foreign-currency reserve requirement
Land use tax raised to stop resource abuse
Foreign investment in real estate regulations issued

The report on Shanghai's financial stability for 2007 points out that
excessive liquidity is a concrete manifestation of China's economic
imbalance, and that the price of equities showed a marked increase in
2006.

The report also suggests the government should pay attention to the
foreign capital flowing into China's real estate market.

Shanghai is also exploring ways to integrate its financial institutions
and stepping up the development of financial holding companies, according
to the report.

The report shows that, by the end of 2006, foreign banks had opened 100
operational outlets in Shanghai, an increase of 18 from 2005. Overseas
banks also had 106 representative offices in Shanghai by the end of 2006,
an increase of six from 2005.

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Learn Chinese online

Learn Mandarin online - QDII expanded to include securities, fund companies

BIZCHINA / Center

QDII expanded to include securities, fund companies

By Zhang Ran (China Daily)
Updated: 2007-06-21 08:21

Chinese securities and fund-management firms will be allowed to invest
overseas in a move seen as cooling the overheated mainland stock market.

The China Securities Regulatory Commission (CSRC) said yesterday that
eligible financial firms will get licenses as qualified domestic
institutional investors (QDII) starting July 5. The scheme has so far
been limited to banks and insurers.

For eligibility, fund-management firms must have net assets of not less
than 200 million yuan ($26 million) and at least two years' experience in
stock investment. Securities companies must have a net registered capital
of no less than 800 million yuan ($105 million) and at least one year's
experience in collective asset management, according to the rule.

It is estimated that a score of securities and fund firms will meet the
standards. They will also be able to join banks and insurers to launch
investment products.

"If the program goes well, we will consider lowering the barriers for
more firms to join in," Li Zhengqiang, vice-director of the CSRC's fund
companies' supervision arm, said.

Special coverage:
Markets Watch

Related readings:
HSBC Bank will roll out expanded QDII plan
Insurers to invest in overseas equity markets
Analysts upbeat over QDII moves QDII could help save China's bubble
market

He said that given their lack of overseas investment expertise, local
securities and fund companies will be allowed to hire international
consultants.

The move is set to diversify mainlanders' investment options and help
develop local financial firms' outbound investment capability, a CSRC
official said.

The securities watchdog said it is working with the State Administration
of Foreign Exchange (SAFE) to decide on the financial firms' foreign
currency quotas.

The major index of the A-share market yesterday plummeted 88 points, or
2.07 percent, to close at 4181, over fears that the expanded QDII program
will lead to capital outflows from the mainland stock market.

"H shares will be the prime beneficiary of the expanded QDII program.
Increasing QDII money outflows to overseas markets and a relatively cheap
valuation will make Hong Kong's H shares more attractive than A shares,"
said Jing Ulrich, managing director of JP Morgan Securities.

According to SAFE data, 19 banks and three insurers have been granted
QDII licenses since the government launched the scheme in 2004.

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Learn Chinese - China not a manipulator, US Congress is

BIZCHINA / Weekly Roundup

China not a manipulator, US Congress is

By Caroline Baum (Bloomberg)
Updated: 2007-06-19 10:59

Caroline Baum, author of "Just What I Said," is a columnist for Bloomberg
News. The opinions expressed are her own

U.S. President George W. Bush (C) and U.S. Secretary of Treasury Henry
Paulson (R) welcome Chinese Vice Premier Wu Yi to the Eisenhower
Executive Office Building in the White House complex before a meeting of
the U.S.-China Strategic Economic Dialogue in Washington, May 24, 2007.
[Reuters]

China may not qualify as a currency manipulator, according to the terms
set out in Section 304 of the Omnibus Trade and Competitiveness Act of
1988. Not to worry: The U.S. Congress is happy to fill those shoes.

In its semiannual report on International and Exchange Rate Policies last
week, the U.S. Treasury declined to tag China, which manages its
currency, the yuan, to the dollar, with a scarlet "M."

"Treasury was unable to determine that China's exchange rate policy was
carried out for the purpose of preventing effective balance of payments
adjustment or gaining unfair competitive advantage in international
trade," according to the report.

Was unable to determine or didn't see the point?

On the same day that Treasury was punting on name calling -- preferring,
instead, a Strategic Economic Dialogue between the two countries -- four
U.S. senators picked up the ball, introducing legislation that would make
it easier for American companies to seek redress under anti-dumping laws.

"For too long our currency policy has left American workers and
businesses unprotected from foreign governments seeking an unfair
financial advantage," said Senate Finance Committee Chairman Max Baucus,
Democrat of Montana, one of the bill's sponsors.

In case the good senator hasn't noticed in his 32 years in Congress, the
U.S. has no currency policy. And as for getting China to adopt a more
flexible exchange rate, anything Congress does will probably be
counterproductive. Sovereign nations don't like to be seen caving in to
pressure from other countries.

Win-Win Situation

"What country has changed as much as China in the last 30 years in terms
of opening its markets?" said Dan Griswold, director of the Cato
Institute's Center for Trade Policy Studies in Washington. "And how much
has the U.S. benefited? The whole debate is based on a false notion of
mercantilism. You can't realize real gains through currency manipulation."

In the Asian financial crisis in 1997, "some currencies practically
dropped 40 percent overnight," Griswold said. "It didn't create
prosperity."

China was singled out and praised for maintaining its peg to the U.S.
dollar.

Two of the other sponsors of the Currency Exchange Rate Oversight bill,
Republican Lindsey Graham of South Carolina and Democrat Chuck Schumer of
New York, are back for their second China go-round. Last year, the duo
sponsored legislation that would have slapped tariffs of 27.5 percent on
Chinese imports. They withdrew the bill when it became clear that it
wasn't compliant with World Trade Organization rules.

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Chinese Mandarin - High-tech products nearly 30% of China's foreign trade

BIZCHINA / Top Biz News

High-tech products nearly 30% of China's foreign trade

(Xinhua)
Updated: 2007-06-17 10:45

China's export and import of new- and high-tech products amounted to
232.5 billion U.S. dollars, or 29 percent of the nation's total foreign
trade, in the first five months of this year, according to latest data
provided by the Ministry of Commerce.

Related readings:
Sino-Russian trade to hit $40b 'Transplants' a way for China to work
with US
US pass on China currency stirs Senate action
Harbin fair attracts record number of participants

The trade volume was 20.2 percent higher than the same period of last
year, ministry sources said.

The exports amounted to 125.8 billion U.S. dollars, up 24.3 percent
year-on-year, and the imports, 106.7 billion U.S. dollars, up 15.8
percent.

The exports made up 28.4 percent of China's total export volume for the
five-month period, while the imports accounted for 29.8 percent of the
nation's total import volume.

In a related development, China's foreign trade in machinery and
electronics increased by 21.7 percent year-on-year to 438.2 billion U.S.
dollars in the first five months, or 54.7 percent of the country's total
external trade volume for the period.

Machinery and electronics exports stood at 254 billion U.S. dollars, up
27.5 percent, and imports at 184.2 billion U.S. dollars, up 14.6 percent.

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Sunday, January 13, 2008

Chinese Online Class - China to issue US$3.95b one-year T-bonds

BIZCHINA / In Chinese Press

China to issue US$3.95b one-year T-bonds

(Xinhua)
Updated: 2007-06-14 11:11

China will issue 30.15 billion yuan (US$3.95 billion) of one-year
book-entry treasury bonds (T-bonds), the Ministry of Finance (MOF) said
in a statement on Wednesday.

The short-term T-bonds are the ninth batch of such bonds issued by the
MOF this year. China issued book-entry treasury bonds totaling 652.72
billion yuan (US$85.43 billion) in 2006, 150 billion yuan more than in
2005.

Special coverage:

Related readings:
Treasury bond to be issued to buy forex reserve
China to float US$3.93b of T-bonds Ministry of Finance to sell US$6.5b
bonds
China to reduce T-bond issuance this year

The batch of T-bonds carries a fixed interest rate of 2.61 percent and
will be sold via the national interbank bond market, stock markets and
some commercial banks between June 14 and June 19, and will be available
for trading on the market as of June 21.

Interest on the bonds will be calculated from the day of purchase, and
purchasers will receive the principal and interest when the T-bonds
mature on June 14, 2008.

The Chinese government pledged earlier this year to cut the issuance of
treasury bonds in 2007 by a "modest" amount in a bid to reduce its
financial deficit and expand channels for direct financing.

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Chinese language - Household deposits post biggest monthly drop

BIZCHINA / Weekly Roundup

Household deposits post biggest monthly drop

By Dong Zhixin (chinadaily.com.cn)
Updated: 2007-06-13 15:04

China's household deposits recorded the largest drop in a month in May,
official statistics showed Tuesday, as people divert bank savings to the
stock market.

Last month, Chinese families' deposits decreased 278.4 billion yuan, the
central bank said Tuesday, breaking the record of monthly drop set just
in April when household deposits went down 167.4 billion yuan.

Meanwhile, the renminbi deposit balance stood at 36.03 trillion yuan, a
year-on-year increase of 14.63 percent, the lowest growth rate since
April, 2002.

Analysts attribute the decline in deposits to the magnetic effect of the
country's stock market which has soared more than 50 percent so far this
year even after a major correction in the last two weeks caused by the
stamp tax hike.

"The rapid decrease in deposits indicates citizens' enthusiasm in stock
investment is still high," said Guo Tianyong of Central University of
Finance and Economics. He expects a slowdown in the decrease in June due
to the recent slumps in the stock market.

Shenyin Wanguo Securities analyst Li Huiyong cited two reasons for the
drop in deposits. "The return from deposits is too low and the money
continues to flow to stocks and funds, or other higher-yield instruments."

Increased consumption during the May Day holiday is also a factor, Li
added.

The benchmark one-year deposits currently carry an interest rate of 3.06
percent, below May's inflation rate of 3.4 percent as measured by
consumer price index (CPI), the highest in more than two years. That
makes the real interest rate negative, raising the pressure for an
interest rate hike.

Interest Rates Hikes

Interest rates increases are needed to keep bank deposit rates positive
in real terms, said Zhou Wangjun, a deputy director in the price
department of the National Development Reform Commission.

The possibility for an interest rates hike is increasing, said Li Huiyong
of Shenyin Wanguo, citing the high-flying CPI in the last few months. CPI
rose 3.3 percent in March before falling to three percent in April, equal
to central bank's target for this year.

Last week, central bank governor Zhou Xiaochuan said he was "closely"
monitoring the rising food costs and will study May's CPI data before any
interest-rate change.

The central bank has raised interest rates twice this year, with the
latest coming on May 19.

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Learn mandarin - Treasury bond to be issued to buy forex reserve

BIZCHINA / Top Biz News

Treasury bond to be issued to buy forex reserve

(Bloomberg)
Updated: 2007-06-12 09:26

The Ministry of Finance will sell a special treasury bond to raise money
to buy foreign-exchange reserves from the central bank, a finance
ministry official said.

"Since it will be a special treasury bond issue, the State Council will
decide on the amount and then submit to the National People's Congress
for approval," Zhan Jingtao, director of the treasury department of the
ministry, said in an interview at a conference in Beijing yesterday.

Related readings:
China to float US$3.93b of T-bonds China's forex reserve tops US$1.2
trillion
China could safely diversify reserves -ADB
China to halt accumulating foreign reserves

China's currency reserves grew at about US$1 million a minute in the
first three months of this year to reach US$1.2 trillion, as exports
boomed. The government is setting up a State investment company that will
use some of the reserves to buy investments with higher yields. The State
Investment Co probably will be set up officially before the end of this
year.

Zhan yesterday declined to confirm media reports that the finance
ministry will sell bonds to buy US$200 billion to US$300 billion of
foreign reserves to put into the State Investment Co.

"Detailed amount of the bond sales and how it will be sold is still under
discussion," he said, adding that the decision is likely to be made
before year-end.

China's foreign-currency reserves may reach US$1.6 trillion by the end of
the year and may exceed US$2 trillion in 2008 if current growth keeps up,
Fan Gang, a monetary policy committee adviser of the People's Bank of
China, said at an economic seminar on June 5.

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Learn Chinese online - GCE to expand notebook PCB capacity in China

BIZCHINA / Overseas Investment

GCE to expand notebook PCB capacity in China

(Agencies)
Updated: 2007-06-08 15:01

Gold Circuit Electronics (GCE) has plans to double the capacity of
notebook printed circuit boards (PCBs) at its plant in Changshu, East
China's Jiangsu Province in the third quarter because of strong demand,
according to company sources.

Related readings:
Lenovo recalls 205,000 laptop
Recall of 526,000 laptop batteries Dell to recall 4 mln laptop batteries
IT: China's laptop sales soar

The Changshu plant, which has a monthly capacity of 600,000 square feet
chiefly dedicated to notebook PCBs, has seen its utilization rate rising
since volume production began in November 2006. The plant was running
almost at full capacity in March and April, and second-quarter
utilization will stay at an average of 95%, the sources indicated.

Judging from its order visibility, demand in the third quarter will be
stronger than that in the second quarter and in order to meet demand GCE
plans to add an additional 600,000 square feet of monthly capacity at the
plant, the sources said.

GCE expects its notebook PCB shipments to reach 24 million units in 2007,
taking 25% of the worldwide market, the sources added.

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Saturday, January 12, 2008

Learn Chinese - Reserve ratios may be further raised this year

BIZCHINA / News

Reserve ratios may be further raised this year

(China Daily)
Updated: 2007-06-07 09:09

China may further increase banks' reserve requirement ratios by 27 basis
points to 54 basis points this year, Shanghai Securities News reported,
citing a researcher from the Chinese Academy of Social Science.

The People's Bank of China may tell lenders to put aside 12 percent or 13
percent of deposits by the end of this year, up from the current 11.5
percent, said Zhang Ming, a professor at the academy's World Economics
and Politics research department, the newspaper reported.

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Related Stories 

� Central bank raises interest rates, bank reserve requirments
===========================================================================
� 'There is still room' to raise reserve ratio
===========================================================================
� Reserve to deal with currency upheavals
===========================================================================

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Chinese School - Stamp vision

BIZCHINA / Weekly Roundup

Stamp vision

By JIN JING (China Daily)
Updated: 2007-06-04 09:31

After a series of monetary measures and repeated warnings, the central
government is seen to be showing renewed resolve to cool the overheating
stock market with fiscal measures that can have a more immediate impact.

An increase in the stamp tax from 0.1 per cent to 0.3 per cent that was
imposed last Wednesday, intended to help promote healthy growth in the
securities market, was widely taken as a sign that the central government
is serious about curbing excessive speculation by short-tem traders by
raising the transaction cost.

"What is special for this year's stock market trading is that Special
Treatment stocks or low-priced stocks performed better than
large-capitalization blue-chip companies, showing that there are lots of
speculators in the market," says Zhang Yidong, an analyst at Industrial
Securities.

According to the statistics from China Securities Regulatory Commission,
the A-share turnover ratio on the Shanghai Stock Exchange was as high as
392 percent, while that on the Shenzhen Stock exchange was 437 percent in
the first four months this year. The turnover ratio shows the frequency
of stock trading. "The high turnover rate indicates that there are many
short-term speculators in the market," says Zhang.

"The stamp tax adjustment will have the effect of forcing people to
switch their investments from the penny stocks to blue-chip stocks and
Olympic-concept stocks, such as those in the transportation and
infrastructure sector," he adds.

The Shanghai Composite Index dived 6.5 percent on Wednesday after the
Ministry of Finance announced the tripling of the stamp tax from 0.1
percent to 0.3 percent. But buying momentum appeared just after the noon
break on Thursday, pushing the main indicator up 1.4 percent to close at
4,109.65 yuan, led by banking stocks.

Large-capitalization stocks performed well even as the stock market took
a dive.

Analysts say the sudden announcement of the stamp tax, which triggered
one-day panic selling, would not have a lasting impact, as investors are
standing by and seeing what action the government may take to cool down
the market.

Song Wenguang, a private investor with more than 10 years stock trading
experience, said that the tax adjustment will make him more cautious on
the his stock investment. "I am worried about the proposed policy the
government may take to intervene the market, such as a capital gains
tax," says Song.

"I also bought some shares when the index dropped to a relatively lower
point on Wednesday, and believe the index will rise in the near term," he
adds.

"Unless the Chinese government takes continuous policy action, the recent
A-share market correction will likely to be temporary," says Huang
Yiping, head of Asia Pacific economics and market analysis at Citigroup.

"The psychological impact on investors could be larger than the actual
effect of the tax adjustment. We think the policy change may add pressure
on share prices in the near term, which could reduce the risk of a market
crash," says Shen Minggao, an economist at Citigroup.

Capital continued to flow into the stock market, even after the tax
adjustment announcement. The number of investor accounts crossed the 100
million threshold last Monday, as new accounts have reached as high as
36,000 a day.

"With the continuing large inflows of capital, the rise in the stamp tax
will not change the upward trend of the stock market," says Zhang.

But Huang notes that a potential significant correction in the stock
market may result in the withdrawal of liquidity from the stock market
into the property markets and bank deposits.

Similar actions have before been taken by the government, including in
May, 1997, when it raised the tax from 0.3 percent to 0.5 percent. At
that time, the stock index slipped as much as 500 points, or 32 percent,
in the following four months until it later rebounded.

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Chinese language - Striking a strange balance

BIZCHINA / Weekly Roundup

Striking a strange balance

By Hu Yuanyuan (China Daily)
Updated: 2007-05-30 10:14

Though she refuses to disclose exactly how much she made from stocks last
year, she says her biggest single-day gain could have been more than
200,000 yuan. And the first thing that came to her mind when she thought
of re-investing that money was an apartment.

Since Wan was born in Wuhu, East China's Anhui Province, she decided to
buy an apartment there, so that she could spend her post-retirement life
comfortably in familiar surroundings. But why Wuhu and not Hefei, the
capital of Anhui? Because Wuhu still has a lot of room for growth, she
says. And she is right, for the average property price in the city jumped
nearly 50 percent in the six months after she bought her apartment.

Wan says: "After its fast and continuous rise, the stock market has
become more risky. So investment in property is a much safer bet, even
though the return might be a bit lower." Also, buying property is the
ideal way to fight inflation.

Yang Zhen, a 28-year-old reporter, corroborates Wan. He too has made a
considerable amount of money from stocks, and is now trying to buy a good
apartment. "Trading in stocks is just a means to earn more money to buy a
house," he says. "And this is the right time to try my luck because the
index won't always climb up like this."

Another lucky man is Xiao. He is ready to get married, and hence cannot
wait to buy an apartment. "The property price in Beijing is still
growing, and fewer apartments are available today within the Fourth Ring
Road," he says. So he has to buy an apartment as soon as possible.

This "peaceful co-existence" of the stock and property markets will
continue for some more time, says CB Richard Ellis Director Peter Lin.
According to the US property consultant firm's executive, the red-hot
stock market's impact on the property sector will not be obvious in the
short term. "China's stock market is at a pretty high level now, with the
possible profit margin shrinking and potential risks increasing. Thus,
investors may quickly evacuate the stock market once it slides. But
property investment is usually a long-term behavior."

Lin argues that China's property prices will continue to rise over the
next three to five years, fuelled by the galloping economy and strong
demand.

Cathy View Courtyard Residencies Marketing Director Chang Lei says the
main reason why the stock and property markets are sizzling at the same
time is the limited number of investment channels in China. "Since bonds
and insurance, popular investment instruments in mature markets, have not
caught on in China, people still pin their eyes on stocks or houses,"
Chang says.

In April, total household deposits in China dropped to 17.37 trillion
yuan ($2.27 trillion), a decrease of 167.4 billion yuan ($21.88 billion)
from the previous month, the Shanghai Securities News reported. And they
may drop further this month as investors rush to withdraw money from
their savings accounts to pump them into the stock market.

Although domestic banks have launched their own wealth management
products, they can hardly draw away investors from the bourse because the
profit margin they offer is barely higher than those for deposits.

The government, too, has realized that most of the liquid cash is flowing
into stocks because of the lack of investment channels, and has taken
measures to create more choices for investors.

In mid-May, the China Banking Regulatory Commission (CBRC) widened the
scope of investments under the Qualified Domestic Institutional Investors
(QDII) scheme.

Also, it has allowed mainland commercial banks, which offer overseas
wealth-management business, to invest in a wider range of assets,
including equities and equity funds authorized by a supervisory authority
with which the CBRC has signed a memorandum of understanding.

These measures could yield results in the long run, but for now it seems
to be the day of stocks - and property, too.

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Learn Chinese - Zhou: No monetary restraints in near future

BIZCHINA / From Top Officials

Zhou: No monetary restraints in near future

(Chinadaily.com.cn)
Updated: 2007-05-25 14:48

People's Bank of China governor Zhou Xiaochuan said yesterday that the
government will not exercise any monetary restraints in the near future.

Related readings:
Wu: Large yuan appreciation would hurt China
Wu: China to promote FX reform at own pace
Overseas banks can issue renminbi cards
Zhou: China to increase yuan flexibility

"The government needs time to observe the feedback of recent policies
before taking further measures to cool down the economy," Zhou told
reporters after meeting with the United States' senators during the
U.S.-China Strategic Economic Dialogue in Washington.

Last Friday, the central bank raised the benchmark one-year interest rate
by 0.27 percentage points to 3.06 percent, and one-year lending rate by
0.18 percentage points to 6.57 percent. It also ordered commercial banks
to set side 11.5 percent, of their deposits as reserves, up from 11
percent.

That marked the first simultaneous use of two monetary tools in a decade,
as well as the eighth increase in reserve ratio since last July and
fourth interest rate hike since last April.

Also on Friday, the reminbi's daily trading limit against the US dollar
was widened to 0.5 percent from 0.3 percent.

Undaunted by the latest tightening measures, Chinese stocks has rebounded
this week, though with strong daily up-and-downs.

Xiang Huaicheng, Chairman of the National Council for Social Security
Fund, admitted that the Chinese mainland's stock market has turned
somewhat overheated recently.

"The bubbles exist", he said. "But the stock market is just like beer, it
is good to have some bubbles unless there are too many." However, he
pointed out that investors should be fully aware of the risksin the
market.

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Friday, January 11, 2008

Chinese Online Class - Dell might have to log into a new sales model

BIZCHINA / Weekly Roundup

Dell might have to log into a new sales model

By Wang Xing (China Daily)
Updated: 2007-05-23 10:16

Dell's competitors, including Lenovo and HP, have all been building a
nationwide retail network and have a fast-expanding retail team.

"I think Dell may have some internal debates about its direct sales model
but they will not make it public, since any wavering on that established
model will affect the company's current customers," Ye said.

But changes may already have been set in motion.

In March, Dell kicked off its first Chinese-language company blog to get
closer to its consumers. CEO Michael Dell announced the same month the
debut of a low-cost PC priced at 2,599 yuan, aimed at rural consumers.

The most remarkable change, however, has been Dell's rapid opening of
user experience centers, where customers can touch and feel Dell's
products before making a purchase decision (though users still can't buy
products directly from these centers).

The company plans to open two to three centers in different cities in the
following quarter, and they will not be located "only in China's big
cities".

"The direct sales model has been a revolution, but is not a religion,"
said Michael Dell in a memo to employees last month. "We'll continue to
improve our business model, and go beyond it, to give our customers what
they really need."

(China Daily 05/23/2007 page15)

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Chinesepod - China ranks 3rd on 'tax misery' list

BIZCHINA / Biz Life

China ranks 3rd on 'tax misery' list

By Li Fangchao (China Daily)
Updated: 2007-05-17 11:34

China ranks third among the world's most heavily taxed nations, according
to the latest "Tax Misery Index" chart released by Forbes.

"Forbes Tax Misery Index", reflects how much of your paycheck you will
take home after the government takes its cut.

China, with an index of 152, was eight points below last year's figure.
It was placed second last year.

France and Belgium lead the pack with 166.8 and 156.4 respectively on the
52-country list.

The United Arab Emirates stands at the bottom with a mere 18, which means
people take home almost every cent they earn.

China's Hong Kong Special Administrative Region ranks third from the
bottom.

"The index shows an executive's gross salary may be reduced by almost 60
percent if he has his office in Denmark or Sweden," Forbes said.

"By contrast, the index shows there's no reduction in the Middle East
nation of Qatar, where executives get to keep every euro, dollar or
drachma their company pays them," it added.

The misery score is the sum of corporate income, personal income and
wealth taxes plus employer social security, employee social security and
VAT/sales taxes at the highest marginal rate in each locale, Forbes said.

And the higher the index is, the more miserable it is.

Despite the decrease in the index this year, China remains the most
heavily taxed nation among Asian countries, the index showed.

And a report accompanying the list said that China has seen an obvious
improvement over last year, with 8 points down from last year's second
position.

Its taxation reform plan has achieved good progress and various factors
show that the ranking will continue to fall next year, the report said.

European countries and China have been at the top of the list since its
inception in 2000.

The magazine said it compiled the list for the reference of companies and
individuals to pick the place where they intend to work and live in a
global perspective.

An Tifu, a finance expert with the Renmin University of China, wrote in
an online column that it is "obviously exaggerated" to say China has the
third heaviest tax burden in the world, keeping abreast with other
developed countries with much higher income and a more complete social
security system.

An cast doubt on the way the statistics are compiled for the Forbes list.

"Different countries have different taxations and various ways of
calculation, to pick five or six indices cannot reflect the whole
picture," he said.

He also said that a series of measures China has taken to reform its
taxation system should not go unnoticed.

The country has doubled its threshold of personal income tax to 1,600
yuan ($208) and will unify its corporate tax rate for both domestic and
foreign companies at 25 percent.

(China Daily 05/17/2007 page3)

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Chinese Online Class - White collar go into overdrive

BIZCHINA / Biz Life

White collar go into overdrive

(chinadaily.com.cn)
Updated: 2007-05-10 13:45

According to a study from Beijing Normal University, 70 percent of
white-collar workers always work overtime. They now have a nickname of
"super model workers" because they work even harder than traditional
model workers.

Xu Yan, the professor from School of Psychology at Beijing Normal
University said the reason behind working 10 hours per day including
weekends is because of increasing social pressure. Said Beijing Morning
Post.

Xu has studied this subject for three years, which is why the study only
came out now. However, working overtime has become a recent phenomenon,
especially in big cities such as Beijing, Shanghai, Shenzhen and
Guangzhou.

Job director, Che Ning explains, some white collars set a too high
expectations about their careers, which is another reason that leads to
super model workers. He also says white collars should think more about
striking a work-life balance.

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Chinese School - Railway braces for Golden Week

BIZCHINA / From the Watchdog

Railway braces for Golden Week

(CRI)
Updated: 2007-04-29 13:56

The passenger transportation during this year's Labor Day Holiday has
started on April 28 and will end on May 7. It's the first golden week
holiday following the sixth nationwide railway speed upgrade.

The Ministry of Railways on Saturday emphasized, at a videophone meeting,
that catering to the increasing needs of holidaymakers in China, railway
departments should make good use of the newly-commissioned high speed
trains, while also ensuring the safety.

The ministry revealed that more trains will be launched during the
holiday. The country's new bullet trains, tickets for which went on sale
a few days ago, are expected to increase the railway capacity.

The railway authority predicted that railway stations are going to handle
some 44.5 million passengers from April 28 to March. 7, a rise of 8
percent year-on-year.

China is expected to see its passenger peak on Labor Day, with 5.1
million railway users. The return peak may come at the end of the
week-long holiday on May 5 and May 6, after hundreds of thousands of
visitors conclude their journeys.

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Thursday, January 10, 2008

Chinese language - COSCO Shipping reports 31% profit rise in 1st quarter

BIZCHINA / News

COSCO Shipping reports 31% profit rise in 1st quarter

(Shanghai Daily)
Updated: 2007-04-25 13:42

COSCO Shipping Co, a unit of China's biggest shipper, said first-quarter
profit rose 31 percent as it charged more to carry coal, steel and other
dry-bulk cargoes.

Net income climbed to 151.4 million yuan (US$20 million), or 0.23 yuan a
share, from 115.9 million yuan, or 0.18 yuan, a year earlier, the
Guangzhou-based company said in a Shanghai Stock Exchange statement
yesterday, citing domestic accounting standards. Sales rose 38 percent to
1.3 billion yuan, Bloomberg News reported.

COSCO Shipping and other lines were able to almost double dry-bulk rates
in the first quarter from a year earlier as China's 11.1 percent economic
growth rate fueled demand for steel and iron ore.

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Related Stories 

� COSCO inks 4 domestic shipyards contracts
===========================================================================
� COSCO sees higher freight rates in 2007
===========================================================================
� COSCO, Jinan Steel ink deal
===========================================================================

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Chinese language - Automakers go green in Shanghai show

BIZCHINA / Top Biz News

Automakers go green in Shanghai show

(AP)
Updated: 2007-04-23 13:34

One experimental clean-energy car runs on natural gas. Another uses
ethanol distilled from corn. A third has a zero-emissions electric motor
powered by a hydrogen fuel cell.

Related readings:
Geely unveils 'London black cabs' for local market

New rich seek expression in autosCarmakers slash prices ahead of show
Global, local firms jostle for position

These alternative vehicles were created not by a global automaker but by
China's small but ambitious car companies, which displayed them Sunday
alongside gasoline-powered sedans and SUVs at the start of the Shanghai
Auto Show.

At a time when they are still trying to establish themselves in
international markets, Chinese automakers are already investing in such
avant-garde research in a bid to win a foothold in the next generation of
technology.

"This is the tide of the industry. If you don't go with the tide, the
industry will pass you by," said Qin Lihong, a vice president of China's
biggest domestic automaker, Chery Auto, in an interview ahead of the
show's opening.

China's communist leaders are encourging the development as part of
efforts to cut pollution and rising dependence on imported oil and to
make this country a creator of profitable technologies.

Chinese manufacturers are getting help from foreign automakers in joint
ventures and from research alliances with Chinese universities and
government laboratories.

Beijing has made cleaner cars a policy priority, targeting the field as
one of 11 priority areas in a 15-year technology development plan issued
in February 2006. It promised grants and tax breaks to support industry
efforts.

The campaign embodies one of Beijing's strategies in technology
development: Pick new areas with no entrenched competitors so China can
make breakthroughs without huge costs.

While foreign automakers have a lead in conventional technology, "in new
energy we're starting from almost the same line," said Chen Hong, the
president of Shanghai Automotive Industries.

"So we believe we can catch up with other auto companies and make great
progress in developing new energy vehicles," Chen said.

(For more biz stories, please visit Industry Updates)

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Chinese Mandarin - Geely to unveil three new concept cars

BIZCHINA / New Models

Geely to unveil three new concept cars

(edmunds.com)
Updated: 2007-04-20 20:32

Geely will unveil three new concept cars and the first Geely-made London
taxi at Auto Shanghai 2007.

Geely says its aim is to move away from the image of being a producer of
bread-and-butter models and highlight its R&D ability. The company also
intends to take what it calls "active steps" to enter the North American
and European markets. The trio of concepts being showcased at Shanghai
point to that goal with their modern engines and greatly improved quality.

Pride of place goes to an updated version of the Meirenbao (Beauty
Leopard) sport coupe. An observer can be forgiven for wondering what
happened to the rest of the car.

Next comes the Vision II, an updated version of the Vision that started
as the FC-1 midsize sedan from the 2005 Frankfurt show. Very little
information is available on this car ahead of the unveiling.

The third model will be a second version of the King Kong; the original
went on sale last year.

The Geely stand will be further enlivened by the appearance of a
prototype China-built London taxi. Last year Geely and the British
Manganese Bronze Holdings Plc, proprietor of London Taxis International
signed a memorandum of understanding on Chinese production of the iconic
London taxicab. After the show's unveiling, production models are
scheduled to be built beginning in 2008. The company hopes to raise
production to 20,000, destined for both local and export markets.

(For more biz stories, please visit Industry Updates)

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Chinese School - New day starts for Lloyd's

BIZCHINA / Overseas Investment

New day starts for Lloyd's

(Shanghai Daily)
Updated: 2007-04-17 14:58

Lloyd's of London started operations of its new Chinese onshore
reinsurance operation in Shanghai yesterday as it taps the country's
growing reinsurance market and hopes to be involved in every facet of
China's economic life.

The new company - Lloyd's Reinsurance Company (China) Ltd - will enable
Lloyd's to reinsure the local currency business which now comprises
nearly 90 percent of the total Chinese reinsurance market, Lloyd's said.

Lord Levene of Portsoken, the chairman of Lloyd's, said yesterday in
Shanghai that it was a very important day for the company.

China's economy is growing so fast that "we want to get involved in every
part of the economy with no restriction on specific sectors," he replied
to questions on which industries Lloyd's would focus on.

Lloyd's 16 syndicates have been the founders of the new China operation.

The company, with a registered capital of 200 million yuan (US$26
million), will have four underwriters in Shanghai initially, and 10
Lloyd's staff members. Staff numbers are expected to grow.

1 2 

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Wednesday, January 9, 2008

Chinese language - UPS ready to open hub in Shanghai

BIZCHINA / Overseas Investment

UPS ready to open hub in Shanghai

(Shanghai Daily)
Updated: 2007-04-12 14:53

United Parcel Service Inc today signed an agreement with the Shanghai
Airport Authority to establish an international air hub at Shanghai
Pudong International Airport with an initial investment of over US$20
million.

The hub, which is under construction and scheduled to open next year,
will link all of China via Shanghai to UPS's international network with
direct service to the Americas, Europe and Asia, UPS said.

Covering an area of 96,000 square meters, the hub will have 200 employees
initially and over 1,000 when fully operational.

It will also connect the rest of China through a dedicated service by
Yangtze River Express Airlines, a Chinese all-cargo carrier.

The hub will be enhanced by the self-handling capability by UPS in ground
handling, terminal operations and express handling, UPS said.

The deal benefits from the Sino-US Civil Aviation Accord of 2004 which
pledges to open up the sky of the both countries and allowed UPS to enjoy
more flexibility on flight schedules once it met the criteria for setting
up an air hub in China.

(For more biz stories, please visit Industry Updates)

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Chinese Online Class - Xi'an holds regional cooperation forum

BIZCHINA / Center

Xi'an holds regional cooperation forum

By Shangguan Zhoudong (Chinadaily.com.cn)
Updated: 2007-04-06 15:58

The 11th Investment and Trade Forum for Cooperation between East and West
China opened in Xi'an, West China's Shaanxi Province on April 6, 2007.
[Chinadaily.com.cn]

The 11th Investment and Trade Forum for Cooperation between East and West
China opened today in Xi'an, West China's Shaanxi Province. The five-day
forum is being held at Qujiang International Convention & Exhibition
Center from April 6 to 10.

The forum is jointly organized by 33 governmental departments including
the Leading Group for Western Region Development of the State Council,
the State Administration for Industry and Commerce, the General
Administration of Quality Supervision, Inspection and Quarantine and
China Council for the Promotion of International Trade.

With a theme of "cooperation, interaction, harmony and development", the
forum will focus on investment negotiation and trade.

There are 2,600 standard booths and a total outdoor exhibition area of
6,000 square meters at the center, six halls are available for
enterprises to show their products and projects, including China
Development Zones Hall, China Private Enterprise Hall and Famous Chinese
Brand Hall.

Fifty-four national development zones, 14 border economic cooperation
zones and 10 provincial development zones will show their projects and
favorable policies at the development zone hall.

A forum about the economic and technological zone will be held during the
event, officials with seven ministries including the Ministry of
Commerce, the Ministry of Finance and the Ministry of Land and Resources
will interpret policies on attracting foreign investment.

More than 150 known Chinese brands from 27 provinces including Jiangsu
Chunlan, Zhuhai Gree and local Xifeng wine and Yinqiao dairy will show
their products during the event.

To provide greater convenience for home and overseas investors,
organizers have put forward first batch of eight categories of 160
cooperative projects with a total investment of 50.77 billion yuan,
involving agricultural and sideline products processing, high-tech
industrialization, resources comprehensive utilization, urban
construction, traffic and environmental protection, modern service
industry, culture and tourism and property right transfer. These
projects, available both in national industrial policy and investment
trends and closely linked with advantages of resource and industry of
Shaanxi Province and China's "11th Five-Year Program", promise bright
market prospects.

(For more biz stories, please visit Industry Updates)

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Chinesepod - Loose lips give tips?

BIZCHINA / Weekly Roundup

Loose lips give tips?

By Leo Zhang (Shanghai Daily)
Updated: 2007-04-02 10:53

As bigger volatility seems to be taking the shine off yuan shares after a
blistering 2006, investors may find themselves at a loss amid floods of
market talks on corporate restructuring and take-over deals.

The problems are so serious that regulators have finally decided to step
in. Probes started last week into firms whose shares sprinted before
price-sensitive news was unveiled publicly while more rules are in the
pipeline to battle against insider trading.

Related readings:
Bull market keeps fund profits rising in 2006

Blue chips likely to shore up riseStock market a magnet for
investorsInvestors warned of risks in fund fervor

China's benchmark Shanghai Composite Index, which soared 130 percent last
year, adopted a seesaw pattern in the first few months of this year as
people pocketed gains after analysts warned them against market bubbles.

As the broad rally seemingly comes to an end, some market participants
are struggling to stoke up sentiment through digging out companies with
possible "positive themes" such as asset-injection plans or take-over
transactions.

A majority of the so-called "secret information" posted on the bulletin
boards of financial Websites proved to be wrong, plaguing stocks involved
with big ups and downs and leaving credulous investors high and dry.

For firms with real stimulus information, investors often surprisingly
found that their stock prices had risen by leaps and bounds ahead of
official disclosures, and even before market talks circulated.

"Regulators deemed it important to keep the market steady and prevent
investor unrest due to resurgent stock-related misbehavior," said a
Shanghai-based source close to the watchdog.

"They were serious about the probes and would severely punish people
responsible for misconduct with measures to even ban them from entering
the stock market for life."

Mainland stock regulators last week launched an investigation into
suspected insider trading involving Hangxiao Steel Structure Co, whose
stocks soared by daily limits for six sessions in a row before the
disclosure of a huge contract.

Although Hangxiao said its huge contract to build housing projects in
Angola is authentic, doubts were mounting if anyone benefited from
getting the news early and buying the firm's shares.

Xinhua news agency, citing an insider, reported on Thursday that
Hangxiao's Chairman Shan Yinmu had said at the firm's annual conference
in February that sales were expected to surge to 12 billion yuan (US$1.55
billion) if it managed to sign huge overseas contracts.

A similar probe has begun into GF Securities Co's proposed takeover of
Shenzhen-listed Yan Bian Highway Construction Co for a back-door listing,
the Caijing Magazine said on Wednesday.

1 2 

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Chinese language - COSL plans to sell A shares

BIZCHINA / Center

COSL plans to sell A shares

By Fu Chenghao (Shanghai Daily)
Updated: 2007-03-27 14:09

Hong Kong-listed China Oilfield Services Ltd said it plans to issue as
many as 820 million new A shares in Shanghai in a sale that could raise
the equivalent to HK$5 billion (US$641 million).

The new yuan-denominated shares to be offered on the Shanghai Stock
Exchange represent 17 percent of COSL's enlarged share capital. COSL
stock closed 5.5 percent higher at HK$6.11 yesterday.

The Shanghai initial public offering has been approved by the company's
board, which will convene a shareholders meeting in June to approve the
sale before submitting the plan to the China Securities Regulatory
Commission, COSL told the Hong Kong Stock Exchange yesterday.

Most of the proceeds from the stock issue will be used for building
vessels and drilling and exploration equipment, with the balance
earmarked as general working capital, it said.

COSL is the oil service unit of China National Offshore Oil Corp, which
is also the parent of Hong Kong-listed CNOOC Ltd, its key oil exploration
subsidiary, and China BlueChemical Ltd, its chemical arm.

If the Shanghai sale proceeds as planned, COSL would become the first
China National unit to conduct a mainland listing, though CNOOC and China
BlueChemical have also signaled their intention to issue A shares.

COSL will increase capital expenditures 18 percent this year to 3.2
billion yuan (US$415 million), it said last Friday while reporting 2006
earnings.

(For more biz stories, please visit Industry Updates)

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Tuesday, January 8, 2008

Chinese language - Official upbeat about China's wireless growth

BIZCHINA / Top Biz News

Official upbeat about China's wireless growth

By Li Huayu (chinadaily.com.cn)
Updated: 2007-03-21 17:55

The global market for wireless local area network (WLAN) will grow at
more than 40 percent annually in the next few years and China will remain
the engine to drive this growth, according to an official with the
Institute of Electrical and Electronics Engineers (IEEE), the world rule
setting body.

"Every time I visit China, I am impressed by the astounding growth of the
IT infrastructure and new introduction of technologies, especially in the
wireless arena." Teik-Kheong Tan, an IEEE director, said. "China remains
the clear engine of growth and will likely lead the future generation of
technopreneurs."

In 2006, the value of the global WLAN market was estimated at US$5
billion. Some research organizations predict that the market scale will
maintain an annual growth rate of around 40 percent in the years to come.
However, Tan said, "I think this number is likely to be beaten."

On the heels of the failure in the tussle between its Wireless
Authentication and Privacy Infrastructure (WAPI) standard and the
IEEE-blessed WiFi, China is now trying again to establish an
international standard of its own. Beijing-based Nufront Software took
its proprietary high-speed broadband wireless local area network
solutions to an annual IEEE conference held last week in Orlando , the
United States.

Tan said, "China can be a key influencer for next generation WLANs. There
is already an effort within IEEE 802.11 (a sub-committee under IEEE) to
start a new study group that will look into developing specifications for
even higher throughput WLANs (greater than 1 GBps)."

"Herein lie opportunities for Chinese experts in wireless high speed
networking for both PHY and MAC to work together in an international
standards committee like IEEE to jointly define the specifications," he
added.

WiFi has two basic components - the physical (PHY) layer, which handles
transmission and reception, and the MAC layer, which stands for media
access control. Basically, the physical side is the radio and the MAC
layer is the software side of the receiving device no matter whether it
is a laptop, a personal digital assistant or other WiFi-enabled gear.

The NuFront solution has made five breakthroughs on both the PHY layer
and the MAC layer. Most importantly, it can help achieve higher
estimation precision and thus find the best modulation.

Besides, the solution, on the PHY layer, brings in a new element that
reduces the system's overhead, making its data throughput on the MAC
layer 18 to 38 percent larger than that of the existing IEEE standards.
To put it simply, it reduces redundancy during data transmission, so
transfer efficiency is increased.

With fast transfer speed and big data throughput, the Nufront solution is
expected to deliver fluent high-definition TV experience to its users,
setting a new benchmark for next-generation WLANs.

(For more biz stories, please visit Industry Updates)

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Learn Chinese online - Current asset

CHINA / Backgrounder

Current asset

(Wikipedia)
Updated: 2006-10-19 14:07

In accounting, a current asset is an asset on the balance sheet which is
expected to be sold or otherwise used up in the near future, usually
within one year, or one business cycle - whichever is longer. Typical
current assets include cash, cash equivalents, accounts receivable,
inventory, the portion of prepaid accounts which will be used within a
year, and short-term investments.

On the balance sheet, assets will typically be classified into current
assets and long-term assets.

The current ratio is calculated by dividing total current assets by total
current liabilities. It is frequently used as an indicator of a company's
liquidity, its ability to meet short-term obligations.

Top China News 

� Hu urges better management of the Internet

� Mine safety to improve further

� SEPA, EU to combat illegal garbage imports

� Tax reforms set to continue

� China suspends sales of defective blood-drug

Today's Top News 

� Young officials rapidly climb succession ladder

� China's GDP grows 10.7% in 2006

� Hu: Nurture a healthy online culture

� Former drug head faces graft probe

� China set to curb foreign waste imports

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Chinese School - Urban Construction and Management

CHINA / About Guangdong

Urban Construction and Management

(china.org)
Updated: 2006-05-16 10:03

Road transport
The year saw the construction of 992 km of new highways including 217 km
of express highways, and the renovation of 4,349 km of existing highways.

Public services
By the year-end, the number of domestic sewage treatment plants had
reached 61, with a daily capacity of treating 5.19 million tons of sewage.

(Statistics as of 2004)

Top China News 

� China tops in greenhouse gas cuts

� Now, nation a big draw for foreign students

� 'Good start' for nuke talks amid disagreements

� Lottery centres must be away from schools

� China defines key national economic sectors

Today's Top News 

� China names key industries for absolute state control

� North Korea insists on nuclear status

� Gates: Failure in Iraq will haunt US

� Police arrest serial killer suspect

� China defines key national economic sectors

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Chinese Online Class - Hu urges peaceful solution to regional conflicts

CHINA / National

Hu urges peaceful solution to regional conflicts

By Sun Shangwu (chinadaily.com.cn)
Updated: 2006-11-19 14:52

HANOI: President Hu Jintao urged all members in the Asia-Pacific region
to seek peaceful solutions to conflicts in the region so as to create a
stable environment for development.

"When disputes and problems occur that may affect regional stability, we
need to enhance trust, remove misunderstanding, reduce difference and
defuse conflicts through dialogue, consultation and negotiation and seek
peaceful resolution of such disputes and problems," he said.

President Hu made the remarks on Saturday at the first session of the
14th APEC Economic Leaders' Meeting.

His remarks came in the wake of the nuclear crisis on the Korean
Peninsula, which was caused by the nuclear test of Democratic People's
Republic of Korea early last month. China, as a major host of Six-Party
talks, advocates for dialogues to resolve the problem.

Hu asked all members to crack down hard on terrorism and transnational
crimes of all forms and pay special attention to addressing their root
causes.

In response to the deep-rooted structural problems hindering the economic
and social progress of the region, Hu urged the developed APEC members to
act with the long-term interest in mind and take effective steps to
narrow the development gap and promote common prosperity.

"This concerted effort will help to achieve comprehensive, coordinated
and sustainable development of the Asia-Pacific economy," he noted.

The Chinese President called for the mode of "win-win co-operation" to
handle global and regional challenges.

The Asia-Pacific still faces high energy prices, imbalances in economic
development and occurrence of major communicable diseases, according to
Hu.

"Common challenges often create opportunities of co-operation. We should
seize opportunities, meet challenges, expand common interests and strive
for win-win progress," he said.

He told APEC leaders to "be open and inclusive" because there are a
number of regional and sub-regional co-operation mechanisms in the
Asia-Pacific region.

"We should support their parallel development so as to foster in the
Asia-Pacific an environment of co-operation that is open and inclusive
and that thrives on diversity. We should also be open towards mechanisms
in other regions and be committed to open regionalism," he added.

Leaders of the 21 member economies of the APEC began their annual meeting
in Hanoi on Saturday to facilitate free trade and promote sustainable
development in the region.

During the close-door meeting, the leaders approved a Hanoi Action Plan
for implementing the Busan Roadmap towards the Bogor Goals.

APEC leaders in 2005 developed a blueprint in Busan, South Korea, for
improving trade and investment facilitation measures. According to Bogor
Goals, a free and open trade and investment in the APEC region will be
achieved by 2010 for industrialized economies and 2020 for developing
economies.

President Hu said that APEC should play a greater role in the following
areas:

First, support the development of the multilateral trading system. A
stable and healthy multilateral trading system is crucial to the growth
of both global economy and the economy of the Asia-Pacific.

"Should the Doha Round of negotiations fail, no country would gain any
benefit," said Hu "the top priority now is to resume negotiation
speedily, reach agreement on key issues and deliver in good faith the
commitment that the Doha Round is a round of development."

Second, strive to meet the Bogor Goals. The Bogor Goals chart the future
course of APEC and are a criterion for gauging the performance of the
Organization. China supports the Hanoi Plan of Action aimed at attaining
the Bogor Goals as scheduled.

Third, enhance economic and technical co-operation, which is an important
means to narrow development gap and promote common prosperity.

In recent years, a number of new problems and challenges have emerged in
areas of financial security, energy security and public health security.
Many APEC members lack adequate experience and capability to respond to
them.

"We should increase input, make our co-operation more effective and
focused and help developing members of APEC improve their international
competitiveness and their capacity to meet challenges," he added.

Top China News 

� Hu urges bigger APEC role in economic development

� President Hu to make plans for Japan visit

� China specifies government purchase list

� Chrysler in talks with China's Chery

� Hanoi in near lockdown to secure city for APEC

Today's Top News 

� Hu, Bush hold talks at APEC summit

� China-Japan ties 'back on track'

� Chrysler in talks with China's Chery

� Tom, Katie wed in Rome ancient castle

� Guests arriving at Cruise wedding

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Monday, January 7, 2008

Learn Mandarin online - Foreign Trade in Zhejiang Tops US$100 Billion

CHINA / Zhejiang in Spotlight

Foreign Trade in Zhejiang Tops US$100 Billion

Updated: 2006-11-17 10:05

According to statistics released by Hangzhou Customs, Zhejiang Province
notched up a foreign trade volume of US$100.77 billion in the first three
quarters this year, up by 27.9% over the same period last year. The total
import and export volume exceeded US$100 billion three months ahead of
schedule, with several indices hitting record highs.

In the first three quarters, Zhejiang��s foreign trade surplus amounted
to US$46.09 billion, second only to that of Guangdong Province. The
export of mobile phones, ships and automobiles soared to US$3.09 billion,
US$0.57 billion and US$0.22 billion respectively, a year-on-year increase
of 2.1 times, 1.2 times and 1.2 times. They have become the major sources
of growth in the export of mechanical and electrical products in Zhejiang.

According to statistics released by Hangzhou Customs, Zhejiang Province
notched up a foreign trade volume of US$100.77 billion in the first three
quarters this year, up by 27.9% over the same period last year. The total
import and export volume exceeded US$100 billion three months ahead of
schedule, with several indices hitting record highs.

In the first three quarters, Zhejiang��s foreign trade surplus amounted
to US$46.09 billion, second only to that of Guangdong Province. The
export of mobile phones, ships and automobiles soared to US$3.09 billion,
US$0.57 billion and US$0.22 billion respectively, a year-on-year increase
of 2.1 times, 1.2 times and 1.2 times. They have become the major sources
of growth in the export of mechanical and electrical products in Zhejiang.

��Zhejiang Provincial Government Information Center��

Top China News 

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� State Council discuss administration reform

� China to open renminbi business to foreign banks

� Abe pledges to further promote ties with China

� China urges vigilance against SARS, bird flu

Today's Top News 

� Sino-Viet Nam economic partnership gets a fillip

� Foreign banks plan local incorporation

� China, Japan to jointly study history

� Soldier gets 90 years in Iraq rape case

� APEC ministers start talks on trade

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Chinese Mandarin - Bo: We are working to balance trade

CHINA / National

Bo: We are working to balance trade

(China Daily/Agencies)
Updated: 2006-11-14 06:47

Minister of Commerce Bo Xilai told visiting US Secretary of Commerce
Carlos Gutierrez Monday that China is working hard to balance trade with
the United States and "is not in pursuit of a huge trade surplus."

Minister of Commerce Bo Xilai meets visiting US Commerce Secretary Carlos
Gutierrez in Beijing Monday. [newsphoto]

Bo also pledged to strengthen protection of intellectual property rights.

Related readings:
Trade with US, EU tops US$200 bln    US commerce secretary in Beijing
  Minister: China not pursuing deficit
  US trade chief to debate IPR, deficit

Gutierrez's visit comes amid growing US concern about its trade deficit
with China, which grew to US$102.2 billion in the first nine months of
this year.

China has a large foreign exchange reserve and it is not in its interests
to have too high a trade surplus with the United States, Bo said.

He noted that US exports to China are increasing rapidly, especially
agricultural products, and China is expected to become the third largest
export market of the United States next year.

In some areas, such as service and cultural industries, the United States
has obvious advantages over China and enjoys a trade surplus. The
branches or joint ventures of US companies in China have also contributed
to the deficit and benefited from it, Bo said.

Bo said he hoped the US side would ease restrictions on high-tech exports
to China, a common concern of companies from both sides. He also hoped
the US side would make substantial efforts with regard to the recognition
of the market economy status of China.

Gutierrez said he wanted to accelerate US export growth to China as a way
to narrow the trade imbalance between the two countries.

"The future should be focused on exporting to China as a way of improving
our balance," Gutierrez told reporters after the meeting in Beijing,
where he was starting his fourth trip to China as the top US commerce
official.

Gutierrez, accompanied by over two dozen US executives hoping to expand
business in China, sought to highlight US export growth as the best way
to balance trade.

"We judge by results, by the numbers we see, and I can tell you this year
our exports to China are up on a year to date basis 34 per cent, and that
is up over last year, which was up 20 per cent," he said.

In the nine months to the end of September, US exports to China totalled
US$40.2 billion, making China the United States' fourth largest export
market.

On IPR, Bo said strengthening IPR protection was in China's interests,
and the two sides had co-operated well. China hopes to have more
information exchanges with the US side in this field.

Bo said 50 centres had been established across China with national
financial support to receive information about IPR infringements. The
courts were also accepting and handling more cases.

Gutierrez will stay in Beijing for two days before leaving for Shanghai
tomorrow.

Top China News 

� WB sees China's economy growing by 10.4% in 2006

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Today's Top News 

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