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NANJING, July 28 (Xinhua) -- A powerful explosion at a factory in eastern China's Nanjing City Wednesday has left at least 10 people dead and hundreds injured, including 14 critically, the city government said.Officials of the government of Nanjing, capital of Jiangsu Province, told a press conference Wednesday evening that 10 people were killed and 14 others suffered serious injuries after the blast at 10:11 a.m. ripped through an abandoned plastics factory in northern Nanjing's Xixia District.Further, more than 120 people have been hospitalized, according to the official.The death toll, which is based on the number of bodies so far recovered, could climb as rescuers are still clearing the explosion site and some injured people are reported to be in very critical condition.The blast was caused by a gas leak after a propylene pipeline was damaged as workers dismantled factory buildings of the Nanjing No. 4 Plastics Factory, said a statement from the State Administration of Work Safety (SAWS).The rescue headquarters say an excavator owned by Yangzhou Hongyuan Construction and Development Co., Ltd. hit a a pipe of 159 mm in diameter.The gas leak started at 9:56 a.m. and explosion occurred at 10:11 a.m.Gas supply was cut off a minute later, said Liu Zhaohua, deputy head of Nanjin's work safety bureau.The excavator operator, whose identity was not revealed, has been held by police for investigation.The explosion occurred when a motorist started a car engine at the scene, igniting the leaking gas, the SAWS statement said, without saying if the motorist was among the victims.Some rescuers and repairmen who had come to handle the gas leak may have died in the explosion, the headquarters said.

BEIJING, Aug. 4 (Xinhuanet) -- Rising domestic iron ore production and slowing steel demand have hit some foreign miners and affected the global market, industry leaders said on Tuesday.China's iron ore imports dropped for the third straight month to 47.2 million tons in June, while spot prices have dropped to about 2 per ton after peaking at 5 per ton in April.The country's iron ore imports rose 4 percent year-on-year in the first half of this year, figures from the China Iron & Steel Association (CISA) showed. But domestic ore output increased by 28 percent year-on-year to 485 million tons in the same period, with output rising 37.6 percent in the second quarter from the first quarter."Rising domestic ore production is the main factor that drove down imports, largely impacting supply and demand on the global market," CISA vice-chairman Luo Bingsheng said.The figures form part of the bad news for international mining companies in Australia and Brazil that provide more than half of the ores to China.Iron ore imports from Australia, Brazil and India accounted for 62.3 percent of the country's total ore consumption last year.Brazilian company Vale already predicted in June that the share of imported ores in China would drop this year.About 40 percent of Chinese steel mills have to make cutbacks or put plants on maintenance, blaming increasing costs of imported ores and declining steel prices. Oversupply in the industry will continue to lower production, further driving down ore imports in the third quarter, Luo said.The CISA will also reduce the number of licensed iron ore importers to regulate the imported ore market."We will announce new rules for the industry soon, which include higher standards on the environment, energy consumption and capital requirement," Luo said.

LHASA, Aug. 15 (Xinhua) -- A senior official of the Communist Party of China (CPC) has urged greater efforts to implement democratic management in Tibetan Buddhist monasteries.Concerted and solid efforts must be paid to implement democratic management in Tibetan Buddhist monasteries, said the official, Du Qinglin, head of the United Front Work Department of the CPC Central Committee.Du, also vice chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks during a conference on democratic management of Tibetan Buddhist monasteries which was held in Xigaze of Tibet Autonomous Region from Aug. 14 to 15.Competent Tibetan Buddhist monks and nuns who are politically reliable, extraordinarily learned and widely respected should be selected to monastery management committees through thorough democratic consultation, said he,In implementing monastery democratic management, the lawful rights of monasteries, orderly religious activities of monks and nuns, and normal religious practice of believers must be ensured, he added.The 11th Panchen Lama, Bainqen Erdini Qoigyijabu, who is also vice president of the Buddhist Association of China, sent a congratulatory letter to the conference.The conference was attended by some 150 people from Tibetan Buddhist circles and relative governmental organizations.

BEIJING, June 10 (Xinhua) -- The People's Bank of China (PBOC), the central bank, injected 166 billion yuan (24.3 billion U.S. dollars) into the money market this week, easing tight money supply conditions with bill issuance and repurchase agreements.In its regular open market operations Thursday, the central bank auctioned 10 billion yuan (1.46 billion U.S. dollars) of three-month bills at a yield of 1.5704 percent, up 4.04 basis points from June 3.On Thursday, the central bank also conducted repurchase agreement operations -- the first time in almost a month -- by absorbing 10 billion yuan through 91-day repurchase agreements. The yield on Thursday's 91-day repurchase agreement rose to 1.57 percent, up 16 basis points from its previous repurchase operation.Thursday's operations together with Tuesday's 25 billion yuan worth of one-year bill issuance brought the weekly total raised to 45 billion yuan (6.6 billion U.S. dollars). But 211 billion yuan (30.9 billion U.S. dollars) of bills matured this week, meaning a net weekly injection of cash.The central bank's net injection this week was the third straight week of net injection. It pumped 159 billion yuan (23.3 billion U.S. dollars) into the market in the previous two weeks.Since mid-May, China's banks have faced a short-term money squeeze as the PBOC introduced a series of tightening measures to cool the booming property sector.Zhao Qingming, a senior research fellow at China Construction Bank, the country's second largest lender, said the yield changes on central bank bills reflects tight money supply in the short-term.Rising bill yields usually reflect lenders' reduced demand for safety or their cash hoarding.For the whole week, yields on central-bank short-term debt instruments rose compared to the previous week.The yield on one-year bills jumped 8.32 basis points to 2.0929 percent while the yield on three-month bills climbed 4.04 basis points to 1.5704 percent. The yield on 91-day repurchase agreements added 16 basis points to hit 1.57 percent.

BEIJING, July 24 (Xinhua) - China's economy is unlikely to see a "double dip" in the second half of this year, and the economic growth for the remaining six months is expected to surpass 9 percent, according to a Bank of Communications report released Saturday.China's economic growth will slow down in the next half year, while consumer prices would fall from its peak, said the nation's fifth largest commercial bank in a report on the outlook of China's economy for the second half of 2010"For China, it is never a recession unless the economic growth drops below 7 percent," said Lian Ping, chief economist with the Shanghai-based bank.The growth is sustainable and healthy for the economy as the growth rate stays around 9 percent, he said.China's exports, a major force driving the economic growth, would continue to rebound in the second half, and the growth for the entire year would stay above 20 percent, according to the report.For the latter half of 2010 consumption is to grow by 18.5 percent from a year ago while investment growth will drop steadily to about 21 percent due to government support to the private sector and strategic emerging industries, it said.Increasing labor costs, resources and food prices is expected to push up China's consumer prices, but the growth would be restrained in the second half due to the slowing money supply and eased imported inflationary pressures, it said.China's gross domestic product (GDP) expanded 11.1 percent in the first six months of this year from one year earlier, data from the National Bureau of Statistics (NBS) showed.China's consumer price index stood at 2.6 percent in the first half of 2010, according to the NBS, while retail sales and fixed asset investments grew 18.2 percent and 25 percent year on year, respectively.China would maintain a stable monetary policy for the rest of the year since the global economic condition is still complicated, and an interest rate hike is unlikely to be seen, said the report.The bank estimated that new loans for the entire year would stand between 7 to 8 trillion yuan (1.03 trillion to 1.18 trillion U.S. dollars).The bank also forecasted in the report that the Chinese government would remain tough with the property sector, but there is little possibility for additional curbs on the market. Property investment would largely fall, but there will not be a significant decline in property prices.Lian suggested that the Chinese government pay attention to the possible cumulative effect of policies on the economy and keep market liquidity at a reasonable level.