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KUNMING, Oct. 8 (Xinhua) -- The building of a railway between southwest China's Yunnan Province and Laos will kick off on Oct. 28, according to its Chinese contractor.The 530-km railway, expected to be completed in 2015, will link Mohan port in Dai Autonomous Prefecture of Xishuangbanna and Vientiane, the capital of Laos, said Li Zhanqun, board chairman of the Yunnan Xiaoxiang Pan-Asia Investment Co., Ltd."We would like to use more workers from Laos to help boost the employment market along the railway," Li said.The railway is part of the Trans-Asian railway network, which will cover 114,000 km and travel through 28 countries throughout the region.In 2009, China ratified an agreement on the Trans-Asian Railway Network, which was initiated by the UN Economic and Social Commission for Asia and the Pacific (ESCAP).The agreement came into effect in June 2009.

BEIJING, Sept. 12 (Xinhua) -- Justin Yifu Lin, Chief Economist and Senior Vice President of the World Bank, said here on Sunday that China's economy is doing well.Speaking at a forum with two Nobel Prize winning economists in Beijing, Lin praised China's economic policies as "visionary" while the three economists talked about the challenges ahead."We admire the Chinese economy. But GDP is not all being directed for people's happiness." Roger Myerson, a professor with the University of Chicago and a Nobel Prize winner, said.The Chinese economy needs increased labor income and welfare to continue its rapid development, Myerson added.A spate of strikes and worker suicides hit the manufacturing hub of Guangdong in south China beginning in May, as workers demanded higher pay.Lin also called for government support in encouraging Chinese companies to become industrial "first movers" . "As a first mover, you can form the pattern," he said.

SHANGHAI, Oct. 7 (Xinhua) -- The Shanghai municipal government issued new rules Thursday limiting families to one new apartment purchase, as the nation tries to curb property speculation and soaring prices."One family in Shanghai, whether local or immigrant, can only buy one new home, including a second-hand one, for the time being," said a circular released by the municipal government.The new rule came into effect Thursday. The Chinese capital, Beijing, introduced the same measure on April 30.Shanghai authorities also ordered banks to suspend loans for third-home buyers and non-local buyers who could not prove they had paid personal income taxes or made social security contributions in the city for at least one year, the circular said.Local authorities would also start preparing for the introduction of a property tax, it said, without providing further details.A land-appreciation tax of 5 percent on the selling price would also be imposed on property developers if they sold residential buildings at an average price that was more than twice the average price of the previous year in the same area.Shanghai's new rules follow a series of measures announced by the Chinese central government in late September to check soaring property prices.The measures included the suspension of bank loans for third-home purchases in the near future and an adjustment in down payments for all home buyers.All home buyers will have to pay a down payment of at least 30 percent of the purchase price, according to the new rules.Previously, according to rules issued on April 17, only first-time buyers purchasing an apartment covering more than 90-square-meters had to pay a 30 percent down payment.On the same day, sources within several departments of the central government told Xinhua that property tax pilot programs will be stepped up and then extended across the entire country.

PODGORICA, Sept. 23 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Podgorica on Thursday for a three-day official goodwill visit to Montenegro.Li, a member of the Standing Committee of the CPC Central Committee Political Bureau, said in a statement issued upon his arrival that he hopes his visit will bring bilateral relations between China and Montenegro to a higher level."I am looking forward to holding in-depth discussions with Montenegrin leaders during the visit on major international and regional issues," he said. Li Changchun (R, front), a senior official of the Communist Party of China (CPC), visits Tallinn University of Technology in Tallinn, Estonia, on Sept. 23, 2010.He added he hopes the visit will help further strengthen friendship, boost mutual trust, deepen cooperation and realize common development between the two sides.During his stay in Montenegro, Li will meet with the prime minister and the parliament speaker of Montenegro.The two sides are expected to sign a number of agreements covering economic and technology cooperation.Montenegro was the second leg of Li's four-nation tour which will also take him to Ireland and Iran. He arrived in Podgorica from the Estonian capital of Tallinn. Earlier in the day in Estonia, he made a tour of Tallinn University of Technology. He also met with the mayor of Tallinn.

HANGZHOU, Oct. 8 (Xinhua) -- A senior Chinese official has urged members of the Communist Party of China (CPC) working in the country's non-public economic sector to work hard to make their companies into advanced and excellent businesses.The call was made by Li Yuanchao, chief of the Organization Department of the CPC Central Committee, during a two-day study tour to Zhejiang Province, one of the regions where the non-public economic sector has been highly developed, on east China coast.The tour ended Friday.During his stay in Zhejiang, Li visited a number of non-public businesses in two cities of Huzhou and Hangzhou in order to gain a first-hand information regarding how CPC members in those ventures have been doing under a Party campaign which encourages CPC members to excel at their workposts.While addressing a symposium held Friday in Hangzhou, the provincial capity, Li said the non-public sector was "an important force for developing the socialist economy with Chinese characteristics."Li added that Party organizations and its members at non-public enterprises should try to ensure that their firms take a correct orientation of development.