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BEIJING, March 24 (Xinhua) -- Chinese commercial banks will be allowed to trade gold futures in the domestic market, according to a notice released on the regulator's official website here on Monday.     China gold futures trading was launched in January, but domestic banks were barred from trading by the China Banking Regulatory Commission.     According to the notice, domestic banks that meet certain requirements, such as having capital adequacy ratio of more than 8percent, can apply for a trading permit.     "That's great news for the gold futures market, which is not operating that well," said Hu Yuyue, an expert with Beijing Technology and Business University.     "Commercial banks can provide more liquidity and stability to the market, after all, they hold huge capital," said Hu.     "Gold futures trading can also help domestic banks to improve competitiveness against overseas banks as financial derivatives are supposed to be the largest revenue sources for leading banks," he said.     Non-interest income usually accounts for at least 50 percent of bank revenues in developed countries and the proportion can reach 80 percent for some banks.     However, Chinese banks depend heavily on the margins between deposits and loans.

BEIJING, March 15 (Xinhua) -- China recorded 68.02 billion U.S. dollars in foreign trade of electronics and information products in January, a growth of 19.3 percent year-on-year.     Sources with the General Administration of Customs said on Saturday that the growth rate was 12.9 percentage points lower than the year-earlier level.     The total trade volume included 38.29 billion U.S. dollars in export value, up 22.9 percent, and 29.73 billion dollars in import value, up 15.2 percent.     The sources said the growth rate for exports was 12.8 percentage points lower than the same month of last year, while that for imports was 13 percentage points lower.     Of the total exports, wholly owned foreign companies accounted for 24.94 billion U.S. dollars, or 65.1 percent, the sources added.

Aerospace experts saved the country's first ever manned space mission as the spaceship faced a potentially lethal impact while flying through the communications blackout area before landing, the country's space authorities revealed yesterday.China became only the third country to put a man in space, after the former Soviet Union and the United States, when Yang Liwei orbited the Earth in 2003 in what was a resounding success for its space program.But Xinhua News Agency reported that this was almost not so, quoting the Xi'an Satellite Monitor and Control Center's report on the dangers the Shenzhou V rocket faced."Yang lost every means to communicate with the ground command and control headquarters as he entered the ( Earth atmosphere), which fell in the worst-case scenario prepared by the space mission team," Xinhua quoted Dong Deyi, head of the center, as saying.Communications go down when any spacecraft re-enters the Earth's atmosphere, but in Yang's case, "even radar could not capture any signal from the returning module", Dong was quoted as saying. "After the Shenzhou V came out of the blackout area, the echo signals from the spaceship were still volatile, which sufficiently threatened the safe landing of astronaut Yang."Mission control promptly ordered optical guiding and tracking instead of a communication-guided landing, Dong was quoted as saying."Aerospace technologists used cinetheodolites (optical trackers) on the ground to measure the spacecraft's position and record movements. Precise positioning of the spacecraft enabled officers to properly control the slow-down parachute, which was vital to a soft landing."But the landing was 9 km east of the planned site, Dong said.China began its clandestine manned space program in 1992. The country has since spent at least 20 billion yuan (.64 billion) on the project and sent three astronauts into orbit.Dong also revealed that at least three orbiting satellites were malfunctioning during certain periods, but all had been salvaged by experts since October 2006.The Xi'an center, established on June 23, 1967, in the mountains of Northwest China, has monitored and controlled more than 100 satellites and the six Shenzhou spaceships. According to official records, China now has at least 19 satellites orbiting the earth.China plans to chart every inch of the moon's surface as part of its ambitious space program.China, which plans to launch a lunar orbiter called "Chang'e I" in the second half of this year to take 3D images, would aim to land an unmanned vehicle on its surface by 2010, Zhang Yunchuan, minister of the commission of science, technology and industry for national defense, said on Friday.Xinhua-Agencies

BEIJING -- Timothy Keating, US Pacific Command commander-in-chief, will visit China from January 13 to 16, the Chinese Ministry of National Defence (MND) said on Tuesday.During Keating's China stay, senior Chinese generals and officials from the Central Military Commission, the General Staff of the Chinese People's Liberation Army (PLA), Guangzhou Military Area Command and the Ministry of Foreign Affairs will meet him separately, the foreign affairs office of the MND said in a press release.The Chinese officials were expected to widely exchange views with Keating on Sino-US military ties, the Taiwan issue, and international and regional affairs of common concern, according to the press release.The four-day tour would also take Keating to the country's financial hub of Shanghai, and Guangzhou, capital of the southern Guangdong Province. There, he was scheduled to visit the PLA military institutions and bases and hold a seminar with Chinese military officials."China takes positive attitude toward developing military relations with the United States, and hopes Keating's visit could further enhance understanding, expand consensus and boost cooperation, so as to promote the bilateral military ties to grow steadily in the new year," the release said.The MND was consulting with the US side on detailing arrangements of the visit.Keating was visiting China for the second time since being appointed to the post in March. He was last here in May.

CHANGSHA -- Chinese media have blasted an attempt by a Chinese city in Hunan province to set a world record for the longest string of firecrackers, labeling it "ridiculous" and a waste of money.A 20-km string of firecrackers, stretching from Dayao Town to the downtown area of Liuyang City, home to China's largest firecracker production base, went up in smoke on Friday afternoon, exploding for 68 minutes and littering the ground with red debris, as organizers sought to gain publicity for the city and its local fireworks industry.The event, organized by several firecracker plants and partly sponsored by the local government, cost more than 800,000 yuan (about US7,000), including 580,000 yuan for the firecrackers themselves and the remainder to stage the event and ensure the fire service was on standby."The production of firecrackers is one of the city's main industries. We hope the success of making the longest firecracker will increase the confidence of the producers and make our city well-known across the country," said Xu Qiangguo, head of the Liuyang Firecrackers Bureau.But the event, billed by local media as a Guinness World Record attempt, was not attended by an official Guinness World Records representative after it ignored a request from the organizers to attend.Instead, a representative from the unofficial Shanghai Great World Guinness Book of Records turned up to present them with a certificate bestowing upon the city the honour of having only "the country's longest string of firecrackers"."I can only ensure you that it's the longest firecracker in China and I dare not say it's the world's longest," said the Shanghai office's representative Wang Yizhuo."Firecrackers were traditionally used to ward off evils but burning crackers is more of a token of celebrations and festivals nowadays. I think this longest string of crackers reflect the happy and peaceful life of the people," he said.A flood of opinion pieces from newspapers around the country waded in with their assessments."Such a record is ridiculous, just like to sharpen the two ends of a tree and apply for the record of the longest toothpick," a journalist with the Jinan Times said.The Beijing Times said, "Unless the firecrackers are supposed to be part of a cinematic scene of raging war, what benefits would accrue from setting off 20 kilometers of fireworks?"The newspaper went on to bemoan the country's lack of creativity. "We are no less than a manufacturing base for the world. We may continue to set records in a similar manner, but that will not add a jot to our overall competitiveness," the article said.The Liuyang authorities also came under fire from a writer from the Guangzhou Daily, who called the event a "real burden for the local economy"."It's high time to call off applications for the professed 'longest' or 'most' records, such as 10,000 people eating hotpot and 10,000 people washing their feet together. They lack social significance as well as scientific and technical skills," he wrote."Some local governments like to spend a fortune creating a record in order to attract attention. But after the sensation only some meaningless numbers are left."But the man behind the spectacle Xu Qiangguo remained defiant and said he was considering applying for the official world record next year."I don't think it's a waste of money because we have got what we wanted: extensive media coverage and more orders," he said. "If you call that too luxurious, how about the existence of so many five-star hotels? They are even more luxurious."Several onlookers in Liuyang agreed. "The firecracker industry is the pillar industry of the city and making such a long one will promote our firecrackers' fame and maybe even make them world renowned," one said.Meanwhile the controversy surrounding the legitimacy of the Shanghai Great World Guinness Book of Records, which was established in 1992 and comes under the authority of the Shanghai branch of the Communist Party Youth League, continues.Guinness' official branch in China is Liaoning Education Press, based in the northeastern province of the same name.According to an article on the website of Liaoning Education Press, it has been the real Guinness Book of Records representative in China since Shanghai Great World Guinness and the Guinness Book of Records split in 1996.In 2003, a Hebei businessman from Beijing sued the Shanghai office after paying them a 1,800-yuan registration fee so he could set a world record for the first bungee jump from a moving aircraft, believing the organization to be affiliated to the Guinness publishers.After completing the jump from a helicopter 80 meters above ground, He later read in a Beijing newspaper that the Shanghai Guinness office was not an authorized agent of the Guinness Book of World Records and had been misleading the public. He also discovered that a German man had jumped 1,100 meters from a helicopter in 1997.