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BEIJING, Aug 5(Xinhunet) -- China's machinery industry has rebounded during the first half of this year, but the momentum is likely to slow as the country's economy cools.The machinery industry has grown by 37 percent during the first six months of 2010, with a total output value of 6.59 trillion yuan, according to the China Machinery Industry Federation, a quasi-governmental institution that oversees growth of China's machinery sector.The machinery industry, which has benefited from the government's 4 trillion yuan investment spending spree, enjoyed expansion in large-scale construction projects over the last year. The construction machinery sector reported 54 percent growth during the first half of this year, according to the federation.The strong growth of the industry is based on preliminary statements by several listed machinery companies submitted to the stock exchange.Shanghai-listed Zoomlion Heavy Industry Science and Technology Development Co, which is also planning to launch a listing in Hong Kong, predicted its profit would grow by 50 percent to 100 percent over the first half this year.Sany Heavy Industry Co is also expected to record 85 percent growth this year, according to Ping An Securities. The maker has already reported a growth rate of 170 percent in profit during the first quarter of this year.However, not all machinery industry sectors are reporting the same momentum as domestic demand has decreased this year. New orders in power generation equipment, transmission and substation equipment as well as heavy machinery, have rolled back this year."It is unlikely to see significant growth in the output of power equipment this year and it will probably stand around 117 million kW since the base figure is already huge," according to Cai Weici, vice-president of the federation, adding that China's output of power equipment already makes up half of the world's total."There is also less demand for heavy machinery used in steel production because the industry is eliminating outdated productivity, thus reducing market demand," Cai said.Fixed-assets investment in the machinery industry which has maintained a growth rate of over 40 percent since 2004 slowed down by 27 percent to 79.8 billion yuan, signaling less reserved strength for further growth.In term of exports, the machinery industry will be exposed to several uncertain factors including a more flexible yuan exchange rate as well as rising labor and raw material costs.The federation forecasts the industry's growth rate will be 20 percent in 2010.
ASTANA, June 12 (Xinhua) -- Chinese President Hu Jintao wrapped up his Central Asia trip Saturday after visiting Uzbekistan and Kazakhstan, and attending a Shanghai Cooperation Organization (SCO) summit in the Uzbek capital, Tashkent.Hu started his trip Wednesday in Tashkent, where he and his Uzbek counterpart Islam Karimov exchanged views on the current situation and prospects of bilateral ties as well as international and regional issues of common concern.The two leaders signed a joint statement on the further development of the friendly and cooperative partnership between China and Uzbekistan. Chinese President Hu Jintao (7th L) and other participants of the Shanghai Cooperation Organization (SCO) summit pose for a group photo in Tashkent, capital of Uzbekistan, on June 11, 2010Hu and other SCO leaders met in Tashkent on Friday for the annual SCO summit. They discussed strategies for safeguarding security and stability, and increasing pragmatic cooperation in the region.At the summit, Hu delivered an important speech, calling for deepening practical cooperation and maintaining peace and stability in the region. He also put forward a series of proposals for intensifying cooperation within the SCO framework.Founded in 2001, the SCO consists of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Mongolia, India, Pakistan and Iran have observer status.From Tashkent, Hu travelled to Astana for his second visit to Kazakhstan in six months. He paid a working visit to the Central Asian country last December.In Astana, Hu and his Kazakh counterpart, Nursultan Nazarbayev, discussed ways to advance the China-Kazakhstan relations and enhance pragmatic cooperation. They also exchanged views on international and regional issues of common concern.Political analysts say Hu's Central Asia trip is conducive to promoting the SCO's sustained, healthy and stable development and strengthening China's ties with Uzbekistan and Kazakhstan.

LHASA, June 9 (Xinhua) - The 11th Panchen Lama urged students in Lhasa to study hard on Wednesday during a roundtable held at the University of Tibet, an initiative the 20-year-old Tibetan Buddhism leader proposed during his visit to Tibet."Life is too short. So you should seize every opportunity to study, to learn knowledge, and then you will succeed," the bespectacled, maroon-robed Panchen Lama said while speaking before nearly one hundred students in the university's assembly hall. The 11th Panchen Lama (C) is welcomed by Professor Ceyang (L) of Tibet University in Lhasa, capital of southwest China's Tibet Autonomous Region, June 9, 2010. The 11th Panchen Lama visited Tibet University and Tibet College of Tibetan Medicine in Lhasa on Wednesday."A man without knowledge is a man without soul," he said. "The more knowledge you acquire, the more you will know there is still a lot to learn."The 11th Panchen Lama, who was enthroned as the reincarnation of the 10th Panchen Lama in 1995, said he has been studying hard to learn Buddhism and other subjects since he was six.
YICHANG, Hubei, July 20 (Xinhua) -- The Three Gorges Dam on Yangtze River, the country's largest, is offering a buffer for the worst flood in decades as it blocks more than 40 percent of upstream water.The world's largest hydropower station was holding up against its first major flood-control test Tuesday, said officials of the China Three Gorges Corporation.The flow on the river's upper reaches topped 70,000 cubic meters a second Tuesday -- 20,000 cubic meters more than the flow during the 1998 floods that killed 4,150 people and the highest level since the dam was completed last year.The flood peak at the Three Gorges Dam at 8 a.m. was slightly below the record high of 70,800 cubic meters per second in 1981, a spokesman with the corporation said.Flood waters are sluiced with the water outflux monitored at 40,000 cubic meters per second at Three Gorges Dam in Yichang, central China's Hubei Province, July 20, 2010. China's Three Gorges Dam project on the Yangtze River stood its biggest flood-control test at 8 a.m. Tuesday since completion, as the flow on the river's upper reaches topped 70,000 cubic meters a second. All ferry services were halted at the Three Gorges Dam on Monday, and would be resumed after the influx decreased to 45,000 cubic meters per second."Compared to 1998, the biggest difference is the Three Gorges Dam. Without it, thousands of soldiers and rescuers would have been needed to fight the floods," said Yuan Jie, director of the Three Gorges Cascade Dispatching Center of China Three Gorges Cooperation."There are three reasons why the dam is withstanding the enormous water pressure, which are the precise monitoring systems, the huge reservoir and the good decisions made by the corporation," said Chen Fei, general manager of the Three Gorges Corporation.The upper reaches of Yangtze River covers an area of one million square kilometers, 60 percent of which was covered by the Three Gorges monitoring system and another 20 percent was covered by systems of the Dadu and Yalong rivers."The peak flow is high, but it has not exceeded the designed capacity of 100,000 cubic meters of water per second," said Cao Guangjing, the corporation's chairman.The peak flow was greater than in 1998 but the peak period was shorter so far, Cao said.The discharged amount had been kept under 40,000 cubic meters per second, which means the dam blocked 43 percent of upstream water and prevented severe flooding in the lower reaches, Cao said.The Three Gorges Corporation had reduced the reservoir's water level to below 146 meters before the raining season. The reservoir has a capacity of more than 20 billion cubic meters as water level can rise to as high as 175 meters.The current flood control will store about 7.6 billion cubic meters of water, said Cai Qihua, chief of Yangtze River Water Resources Commission. It is estimated to reduce the water level in Jingjiang, a 360-km section of Yangtze in the plain region of Hubei and Hunan provinces that is most vulnerable to flooding, by 2.5 meters, Cai said.
BEIJING,July 11 (Xinhua) -- China issued a new anti-corruption regulation Sunday to require officials to report changes in their marital status, the whereabouts of their spouses and children if they have moved abroad, personal incomes, housing as well as their family' s investments.The new regulation was issued by the General Office of China's State Council and the General Office of the Communist Party of China (CPC) Central Committee.The regulation defines "officials" as those leaders holding official ranks of and above county level in government agencies, democratic parties, public institutions, state owned enterprises and state holding enterprises.The new regulation requires officials to report changes in their marital status and the location of their spouses and children if they have moved abroad, within 30 days after such a change takes place.Specifically, officials should report their ownership of passports or visas and their children's marital status if they are married to foreigners or residents of Hong Kong, Macau, and Taiwan.Officials should also report any businesses their spouses and children are involved in, both within China and abroad.The new regulation also requires officials to report their ownership of property, including property in their spouses' or children's names, their family's investment in financial assets and in enterprises.According to the regulation, if officials fail to report honestly or in a timely fashion, they would face punishment to various degrees, even as harsh as removal of official ranks.The regulation also ordered party organizations at all levels to strengthen management and supervision over officials to guarantee the implementation of the regulation.This regulation is considered an important measure to ensure strict self-discipline for Party and government officials and to improve the intra-Party supervision system.
来源:资阳报