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BEIJING, April 5 --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.
BEIJING, April 3 (Xinhua) -- China will launch a two-month campaign to inspect work safety nationwide on April 5, according to the work safety commission of the State Council, or the Cabinet.Serious accidents took place in succession in some areas and industries recently, which shows negligence and loopholes in work safety management and serious violations to laws and regulations, said a circular issued by the commission.The inspection would focus on work safety in mines, the chemical industry, transportation and fire-works mills, among others.The campaign would include self-examination by enterprises, government inspection and public supervision.Enterprises are required to complete self-examination in April and local governments to conduct inspection in May, while the commission would dispatch supervision teams to check their work.The nationwide campaign comes days after 153 coal miners were trapped in a flooded coal mine in north China's Shanxi Province, which will be China's worst mining disaster in more than two years if the miners cannot be saved.

XIANGNING, Shanxi, April 5 (Xinhua) -- Sixty of the 115 workers who were pulled out alive after being trapped for over a week in a flooded coal mine in north China will be transferred to big city hospitals for better medical treatment, local authorities late Monday.Currently, the survivors are being treated at five hospitals near Wangjialing Coal Mine, which straddles Xiangning County, of Linfen City, and Hejin City, of Yuncheng City, in Shanxi Province.The Shanxi provincial government and medical experts dispatched by the Health Ministry have decided to transfer 60 rescued miners to key hospitals in the provincial capital Taiyuan Tuesday to receive better treatment.A special train will be deployed by the Ministry of Railways to take the patients to Taiyuan. The train will depart at 7:00 Tuesday morning and the trip will take 4 to 5 hours.Each of the patients will be equipped with two medical staff.
WUHAN, March 26 (Xinhua) -- China on Friday started building a canal from the middle section of the Yangtze River to a tributary that connects with China's South-North Water Diversion project.Costing more than six billion yuan (880 million U.S. dollars), the 67.23 km project will divert 3.1 billion cubic meters of water every year from Yangtze's Jingjiang section to the Hanjiang River, one of the major sources of water for north China once the diversion project is complete.China's South-North Water Diversion project is designed to divert water from the water-rich south to the dry north.The central part of the project will divert water from Danjiangkou Reservoir on the Hanjiang River to north China cities like Beijing and Tianjin.According to research by Hubei provincial environmental protection bureau, without water from the canal the Hanjiang River would only have one third of its average runoff once water is diverted, and the water level of middle and lower reaches of Hanjiang would drop by 0.5 meter.The canal, which will be completed in 2014, will prevent problems arising such as algae pollution if water levels were decreased dramatically, said Shen Xiaoli, an engineer with the Hubei Environmental Sciences Institute.The canal is expected to benefit about 8.9 million people and 43,000 hectares of farmland in the lower reaches of Hanjiang.Once completed the five to six meters deep canal could be used by ships weighing more than 1,000 tonnes, facilitating transportation of coal from the north to the south, said Xu Shaojun, head of the Hubei Provincial Investigation and Design Institute of Water Resources and Hydropower.
UNITED NATIONS, May 4 (Xinhua) -- China on Tuesday spoke highly of the Nuclear Non-Proliferation Treaty (NPT) in promoting non- proliferation, disarmament and peaceful use of nuclear energy.Li Baodong, the head of the Chinese to the 2010 NPT Review Conference, made the statement as he was speaking at the review conference, which entered its second day here Tuesday."Over the last four decades, as the cornerstone of the international non-proliferation regime, the Treaty on the Non- proliferation of Nuclear Weapons (NPT) has played a major and irreplaceable role in preventing nuclear proliferation, advancing nuclear disarmament and promoting peaceful uses of nuclear energy, " said, Li, who is also the Chinese permanent representative to the United Nations."Under new circumstances, to further enhance the universality, authority and effectiveness of the NPT is conducive to safeguarding and promoting international and regional peace and stability, which serves the common interests of all countries," he said."This Review Conference is held at an important historical moment," he said. "The goal of complete prohibition and thorough destruction of nuclear weapons for the establishment of a world free of nuclear weapons is getting widely recognized, and the consensus for non-proliferation is building up in the international community. A growing number of countries have chosen to use nuclear energy for the development of renewable and clean energy.""The success of the Review Conference bears greatly on the prospect of the international nuclear non-proliferation regime and the future of the international nuclear disarmament process," he sad. "It also bears on the sustainable development of nuclear energy and of the economy, and on international peace and security. It is the shared responsibility of all states parties and the international community to make this Conference a success. "The first decade of the 21st century has witnessed complex and profound changes in the international security situation, he said."The pursuit of peace, development and cooperation has become the strong mainstream of our times," he said. "At the same time, mankind is also facing new security challenges. Traditional and non-traditional security threats are intertwined, regional conflicts and hotspot issues keep emerging, and threats of terrorism and proliferation of weapons of mass destruction cannot be neglected.""New security situation requires a new security concept and a broader perspective," he said. "The security of all countries has never been as closely interconnected as it is today. Security is not a zero-sum game, and there is no isolated or absolute security."No country or group of countries can address all security issues on its own," he said. "And only when security for all is achieved can peace and security for individual countries be safeguarded."
来源:资阳报