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TAIPEI, June 23 - Taiwan "presidential candidate" Ma Ying-jeou, who is from the main opposition party, has picked a "former premier" and economic expert as his running-mate for the 2008 election. Ma, from the Nationalist Party or Kuomintang (KMT) and one of two serious contenders for the "presidency", chose former "premier Vincent" Siew because of his experience, one of Ma's aide told Reuters. Siew, 68, served as "economics minister" from 1990 to 1993 and as "premier" from 1997 to 2000 under then "president" Lee Teng-hui. He now chairs the authoritative Chung-hua Institute for Economic Research. Siew ran unsucessfully for "vice-president" alongside KMT candidate Lien Chan in 2000, when opposition leader Chen Shui-bian swept to power, putting an end to half a century of Nationalist rule. Ma faces a close contest next year with Frank Hsieh, candidate of Chen's ruling Democratic Progressive Party (DPP).
BEIJING, March 24 (Xinhua) -- Chinese commercial banks will be allowed to trade gold futures in the domestic market, according to a notice released on the regulator's official website here on Monday. China gold futures trading was launched in January, but domestic banks were barred from trading by the China Banking Regulatory Commission. According to the notice, domestic banks that meet certain requirements, such as having capital adequacy ratio of more than 8percent, can apply for a trading permit. "That's great news for the gold futures market, which is not operating that well," said Hu Yuyue, an expert with Beijing Technology and Business University. "Commercial banks can provide more liquidity and stability to the market, after all, they hold huge capital," said Hu. "Gold futures trading can also help domestic banks to improve competitiveness against overseas banks as financial derivatives are supposed to be the largest revenue sources for leading banks," he said. Non-interest income usually accounts for at least 50 percent of bank revenues in developed countries and the proportion can reach 80 percent for some banks. However, Chinese banks depend heavily on the margins between deposits and loans.

Beijing is planting trees and plants along riverbanks instead of covering them with concrete to fix its river system. It has taken almost 10 years for the capital to accept and use this idea. The ecosystems in the streams are gradually coming back to life because of the cleaner water, providing a good habitat for animals and plants, and ideal leisure sites for local residents. Zhuanhe which connects with Kun Ming Lake in the Summer Palace is one of successful example of the river ecological treatment in Beijing. "In Beijing, there are 52 rivers with a total length of 520 kilometers inside the sixth ring road. Yongding and Jingmi rivers are the city's two main water sources, and Qinghe, Bahe, Tonghui and Liangshui are key drainage waterways," said Yu Kongjian, dean of the Sight Engineer Institute with Peking University. Originally, Beijing only wanted to control the floods by letting water flow out as soon as possible. Therefore, riverbanks were cemented down in order to prevent water leakage and the growth of plants, which could slow the water speed down. However, the shortage of rainfall in Beijing since 1999 showed that this method was not correct. On the one hand, streams had less fresh water to clean themselves. On the other, more polluted water was dumped into the rivers as more people moved into the capital. And in the summer of 2001, something bad happened. "The rivers in Beijing turned blue overnight and gave off a smelly odor," said Liu Peibin, vice engineer of Beijing Water Authority. There was an algae bloom due to so much pollution in the water. Algae covered the water surface and consumed most of the oxygen, and many creatures in the water died as a result. These "concrete pools" became the haven for swarms of mosquitoes which forced tens of thousands of residents nearby to close their windows and doors tightly especially in summer days. The water authorities had to act quickly for public safety. The first step was to demolish the concrete covering the riverbanks. The soil was exposed to water again, and the water could circulate down to the riverbank. Secondly, in order to stimulate oxygen in the streams, engineers put big stones in the water to create mini waterfalls. And they grew trees like willows and plants such as bulrush along the riverbanks. "Bulrush can purify polluted water through absorbing nitrogen and phosphorus in the water and exhaling oxygen," Deng added. "Gradually Zhuanhe came back to life and got rid of the polluted and smelly water. This would be impossible today if the brook was still covered in concrete." "What we did with Zhuanhe is a milestone in the progress of river treatment with new ecological ideas," said Deng Zhuozhi, vice engineer of Beijing Water Project Institute. He took charge of the Zhuanhe project. "How to fix up rivers depends on our attitude towards floods. We should learn to make friends with floods in a country where two-thirds of China's cities are short of water. Therefore we should reserve water as much as possible instead of discharging it ineffectively," said Yu.
WASHINGTON -- The special US envoy on Sudan affairs said Wednesday that important progress has been made toward peace talks on Darfur and China plays a "constructive" role in facilitating such progress."I am very happy with the role the Chinese are playing," Andrew Natsios said in a speech at the Center for Strategic and International Studies, a Washington-based think tank."It is a constructive role," Natsios said. "I think the Chinese are like a locomotive that is speeding up."With mediation by China, he said, the Sudanese government has accepted a UN Security Council resolution adopted in July to authorize a hybrid UN-African Union peacekeeping force for the Darfur region.He said the major obstacles to the peace talks now come from the rebel groups rather than the Sudanese government.In a related development, China's Special Representative on African Affairs Liu Guijin said in Beijing on Tuesday that China will send a military liaison officer to Sudan's Darfur.Liu, who has just wrapped up a seven-day visit to the United States and the United Nations, said China has informed the UN of its decision.China also pledged to send a 315-member multi-functional engineering unit to Darfur in early October, which would be the first batch of UN-AU peacekeepers in place, and China will stick to its commitment, Liu said.Liu reiterated China's constructive and unique role in finding a solution to the Darfur issue, saying China has provided much aid and help with regard to the reconstruction and development of Darfur."The US and UN both hold positive views on China's role in resolving the Darfur issue, and hope China will play a bigger role in this regard," said Liu.
The second batch of quotas for qualified foreign institutional investors (QFII), a scheme for foreign players to invest in the A-share market, is likely to be about billion, an industry insider, who declined to be named, told China Daily on Friday. The source said that the second batch of QFII quotas was being discussed, and pending approval by the Chinese government, was likely to be about billion, not exceeding that of the last batch, which was billion. Hu Xiaolian, Deputy Governor of the central bank and Administrator of the State Administration of Foreign Exchange (SAFE), said earlier that related rules on the QFII scheme were being amended and the total QFII quota would certainly see an increase in 2007. However, she declined to give a specific sum. China has so far approved 52 overseas institutions as QFIIs to invest in the A-share market, of which 49 have got a combined investment quota of .995 billion from SAFE, near the upper limit of billion as stipulated previously. Industry insiders said the demand for QFII quotas was strong at present and more should be granted. "Despite the excessive liquidity in the A share market, the Chinese government should grant more quotas to QFIIs. Otherwise, they will find other ways, making it more difficult to supervise," She Minhua, an analyst with CITIC China Securities said. Meanwhile, the booming Chinese stock market is attracting more foreign financial firms to set up joint ventures in the investment sector. The Financial Times on Thursday reported that Nikko Asset Management, a QFII approved in 2003, has become the first Japanese fund firm to acquire a 20 per cent stake in a local firm, the Shenzhen-based Rongtong Fund Management Company. Nikko AM bought the stake from Shaanxi International Trust & Investment (SITI), for 3.8 yuan per share, valued at 475 million yuan, according to a statement by the Shenzhen-listed SITI.
来源:资阳报