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An investor smiles before an electronic board showing stock information at a securities firm in Xiamen, East China's Fujian Province March 20, 2007. [newsphoto]The net income of the 287 funds launched by 53 fund management firms totaled 124.8 billion yuan, while paper profits reached about 146 billion yuan, according to WIND, a provider of Chinese financial data. The profits were more than 38 times greater than the seven billion yuan earned in 2005 by all 206 funds under 46 fund management firms. The majority of profits came from the 216 stock-leaning funds, which have at least 60 percent of their investments in stocks. They reported total operating profits of 261.4 billion yuan, accounting for 96.53 percent of all fund profits. The country experienced a fund investment boom last year as investors shifted low-interest bank deposits into the bourses, which surged 130 percent last year after a four-year slump. Fifteen million people have invested in funds. The proportion of individual investors in closed-end funds rose to 74.21 percent by the end of 2006, an increase of 18.05 percentage points from the end of the first half, according to WIND. China raised 390 billion yuan in 90 new funds and registered 7.78 million new accounts in 2006. More than 300 mutual funds have sprung up in China since 1992. The funds are valued at around one trillion yuan, accounting for 19 percent of the present stock markets.

BEIJING -- China's first lunar probe Chang'e-1 will fly to the moon orbit with no more orbital corrections, a scientist told Xinhua on Saturday.Tang Geshi, a scientist with the Beijing Aerospace Control Center (BACC), said that the center will order the satellite to apply the first break at about 10:00 on Monday with no more planned orbital corrections.BACC carried out an orbital correction of Chang'e-1 on Friday, about nine days after its launch. "The correction has made the satellite run accurately in the transforming orbit heading to the moon, and another correction planned on November 4 will be unnecessary," Tang said.The Chang'e-1 lunar probe has been flying at a speed of 500-meter per second to the space where the moon's gravity could capture it.It has completed four orbital transforms and one halfway correction and is expected to enter the moon orbit on November 5.China's first lunar probe, Chang'e-1, named after a fairy-tale Chinese goddess who flew to the moon, blasted off on a Long March 3A carrier rocket on Oct. 24 from the Xichang Satellite Launch Center in southwestern Sichuan Province. 

Hong Kong is the destination of choice for most mainland travelers this Christmas, a survey has found.A child walks past a Christmas decoration at the Two IFC shopping mall in Hong Kong November 28, 2007. [Agencies]Forty-four percent of the 2,000 people polled, all of whom have an annual income of more than 60,000 yuan (,000), said they were planning to visit the region over the festive period.Other popular destinations included Shanghai (10 percent), Sanya in Hainan Province (9 percent), Lijiang in Yunnan Province, Bali in Indonesia, Phuket in Thailand and Harbin in Heilongjiang Province.Conducted by the online travel firm ctrip.com, the survey found people were most interested in places with a "strong holiday atmosphere", "good shopping environment" and "excellent hotels and beaches" when choosing a destination for their Christmas getaway.Tang Yibo, director of Ctrip.com's holiday department, said: "Embodying both Eastern and Western cultures, Hong Kong stands out because it has not only a vibrant Christmas atmosphere, but also offers lots of shopping and entertainment facilities, and big discounts at this time of year."The convenience of traveling between the mainland and Hong Kong is also an important factor, Tang said.Lin Nan, a teacher from Shanghai, who sets off on a three-day trip to Hong Kong this weekend, said: "The pre-Christmas discounts in Hong Kong are irresistible, even when you consider what you have to pay to fly there."Lin Kang, deputy general manager of the outbound tourism department of the China International Travel Service Head Office, said tour packages to Hong Kong are always bestsellers at Christmas.He said the reason was that Chinese do not have much time off work at Christmas and the New Year so they cannot travel too far."When it comes to the weeklong Spring Festival holiday, destinations like Europe will be more popular," he said.Packages for the Spring Festival are now available, he said, with some of them to Australia and New Zealand already sold out.Some travel experts have said the high volume of holiday bookings for this year's Spring Festival is due to the cancellation of the May Day holiday.But Lin disagreed, saying it is still too early to judge the impact of the changes to the national holiday schedule. Outbound tours during the Spring Festival holiday are always easy to sell, he said.The cost of tour packages during the spring holiday will, as usual, be at least 20 percent higher than at other times of the year, he said.Zhang Wei, director of the air ticket department of Ctrip.com, said the cost of air travel to Europe, Australia and North America over the Christmas and New Year holidays has also soared.He said the cheapest one-way ticket from Beijing to London is now 3,320 yuan, up from 2,200 yuan at the start of the year.Zhang said the price hikes are due to the high numbers of foreigners flying home for the festive season, and also the increased popularity of group trips offered as staff incentives by some Chinese firms.

BEIJING -- China pledged to normalize life and production in snow-hit provinces as early as possible at an executive meeting here on Wednesday to make arrangements on the issue of rebuilding in these areas.Premier Wen Jiabao presided over the executive meeting of the State Council, China's Cabinet.The meeting marks a turning point of China shifting the focus of its efforts from disaster relief to reconstruction of the badly hit areas. The State Council spoke highly of the joint efforts made by civilians, troops and police to fight the snow-caused catastrophes.Currently, transport has returned to normal nationwide and damaged power supply and transmission networks are being repaired. In the affected areas, power supply for residential use has basically been restored, markets are stable and social order has been maintained, according to the meeting.The meeting warned local governments and departments concerned not to relax as in some areas power supply facilities were yet repaired. In addition, the transport of power-use coal was still difficult, large areas of croplands were completely destroyed and life is very hard for local people.The State Council asked local authorities to organize manpower, materials and funds to rebuild damaged infrastructure, restore industrial and agricultural production and normalize people's lives as early as possible while trying hard to minimize losses caused by the catastrophe.According to the meeting, power supply in the affected areas must be completely normalized by the end of March, while transport facilities, telecom networks and radio and TV broadcasting networks must be normalized as quickly as possible.The State Council also made detailed plans for restoring industrial and agricultural production in the affected areas, including the providing of crop seeds and food to affected farmers and in increasing coal, power and oil shipments to affected areas.According to the latest official statistics, snow-caused catastrophes have killed 107 and caused 111.1 billion yuan (US.4 billion) in direct financial loss.Altogether, 21 provinces, autonomous regions and municipalities have been affected. About 1.5 million people have been evacuated, and 1.93 million stranded passengers have been transported out.The extreme weather affected nearly 24.4 million hectares of farmland and 18.6 million hectares of forests.The State Forestry Administration has allocated a total of 34.3 million yuan (US.7 million) for subsidy to the worst-hit six provinces.The forestry administration also made plans to cut back relative taxes to relieve farmers and encourage production after the snow storms.The Ministry of Science and Technology has proposed to provide technology support for the snow stricken areas, to help with restoring industrial and agricultural production.Wan Gang, Minister of Science and Technology, said on a work conference here on Wednesday the ministry would closely monitor secondary disasters that might come along with the snow storm, send technicians to snow-hit areas to facilitate power grid reconstruction and agricultural production.He also said the ministry will strengthen the country's alarm system against natural disasters by granting more funds into research in related areas.The science ministry has already allocated 20 million yuan (US.73 million) to help with disaster relief, and have distributed science brochures compiled by the ministry to snow stricken areas.It also ordered relevant departments to monitor possible secondary disasters coming along with the low temperature, snow and freezing rain.In addition, the ministries of civil affairs and finance have allocated a total of 535 million yuan (US.79 million) in emergency funding to regions affected by the disaster.The two ministries have so far earmarked another 710 million yuan for needy urban and rural residents in seven of the worst-hit provinces and regions as temporary subsidies.

Police will charge 38-year-old Wu Shengli next week with kidnapping and injuring Wang Bingrong, Party chief of Weining County in southwestern Guizhou Province, on April 13. "We are making final preparations to conduct legal proceedings for the procuratorate departments," a police officer told China Daily yesterday. Wang is still in hospital, according to an official of the county office. The Guangzhou-based Nanfang Weekend reported the case yesterday. According to the newspaper, the kidnapping occurred at the Party chief's home at about 8 pm and the kidnapper demanded a ransom of 21 million yuan (.73 million) for his release. Wang tried to call a local finance official for help, but he thought Wang was playing a joke on him. It was not until the next morning when the official received a second call from Wang that public security departments were alerted. Wang was found seriously injured and rushed to hospital. "There were three big wounds on his head," one of Wang's nurses from Weining County People's Hospital said on April 20. "Surface wounds have healed, but there is still a hematoma inside his head." Wu, from Hubei Province, was captured "without difficulty" and put under criminal custody, the newspaper said. He used to work as a truck driver for a local gold mining company. While officials remain tight-lipped about the case, rumors of why Wang was targeted have spread. "It is a pure kidnap case for money, and there is nothing between Wang and the kidnapper," Li Zhengchao, a local official told the Guangzhou newspaper. But others are not convinced given that Weining is a remote county and kidnapping a top official poses high risks. Two mine explosions in the coal-rich county last May and June killed 20 workers, leading to the shutdown of more than 400 illegal mines. Wang is believed to have ordered the closure of more than 2,000 illegal mines in one year. In Weining, Wang is known for his boldness in streamlining local government bodies. Over-staffing of departments has been a problem in the county. For example, there are as many as six or seven vice-directors for a small department, as compared to two, regulated by the State. Wang's reform has reduced the ranks by more than 100 senior officials. "Many officials could previously stay in their posts until aged 58, but now they have to step down at 50," said a local official. Last November, Wen Jiangang, the former head of Xingren County, was stabbed to death together with five other family members. He was also known for his tough stance on coalmine safety. Wen had closed more than 300 illegal coalmines within six months.

来源：资阳报