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BEIJING, June 11 (Xinhua) -- Chinese equities rose slightly Friday after the release of strong May economic data but concerns over policy tightening and other uncertainties left market participants cautious.China's consumer price index (CPI), the main gauge of inflation, increased in May by 3.1 percent from a year ago, the highest rate of increase since November 2008, according to figures released by the National Bureau of Statistics (NBS).The NBS data showed that growth in factory production and investment continued to slow while retail sales, the main gauge of consumer spending, grew 18.7 percent in May year on year from 18.5 percent in April.Affected by slower industrial output growth and higher-than-expected CPI data, the Shanghai Composite Index initially rose but fell in the afternoon to close at 2,569.94 points, up 0.29 percent, or 7.36 points, from the previous close.The Shenzhen Component Index rose 17.11 points, or 0.17 percent, to end at 10,239.33.Total turnover shrank to 152.66 billion yuan (22.35 billion U.S. dollars) from 167.53 billion yuan the previous trading day.Losers outnumbered gainers by 488 to 359 in Shanghai and 572 to 368 in Shenzhen.Analysts believe the slower growth in industrial output was due to recent tightening measures and that the market has turned cautious as the May CPI figure outpaced the 3-percent ceiling the government has set for this year.Lu Ting, China economist at Bank of America-Merrill Lynch, said China's rising inflation may be interpreted negatively by markets.However, according to Yu Yang, an analyst at Galaxy Securities, the CPI is still "under control" and there is little possibility for a rate hike.Analysts also pointed out the decreased turnover volume reflected the fact some investors have taken a wait-and-see attitude ahead of next week's holidays.Chinese markets will be closed from Saturday to Wednesday for the traditional Dragon Boat Festival Holiday.Coal shares led the rise with a 1.8 percent gain as the May producer price index (PPI), a major measure of inflation at the wholesale level, rose 7.1 percent year on year, outpacing the CPI growth.China Shenhua Energy Co., the country's biggest coal producer, climbed 0.78 percent to 23.35 yuan.

ZHOUQU, Gansu, Aug. 11 (Xinhua) -- Rescuers were busy searching a possible survivor in a damaged building Wednesday night after they were told cries for help were heard from the building in a mudslide-hit town in northwest China.Zhang Guiquan, an army officer, told Xinhua some residents of Zhouqu County of Gansu Province heard cries from the partially-collapsed building near the Bailong River that overflowed after being blocked by mudslides.About 40 soldiers braving heavy rains and potential mudslides were detecting signs of life near the building after receiving the report from the residents, Zhang said.Hopes of finding any survivors faded as the thunderstorms battered the county seat of Zhouqu Wednesday night, nearly four days after the mudslides hit the town, leaving 1,117 people dead and 627 missing.

GUANGZHOU, Aug. 4 (Xinhua) -- Five fishermen are missing after their fishing boat collided with an unknown vessel that then fled off the coast of south China's Guangdong Province early on Wednesday, local authorities said.The wooden fishing boat sank after colliding with the unknown vessel along the coast of Lufeng City in the early morning. Seven fishermen aboard the boat fell into the water, and two were subsequently saved by rescuers, the Lufeng Municipal Emergency Affairs Office said in a statement.The unknown vessel fled the scene following the collision, it said.Local maritime authorities are searching the area for both the five missing people and the runaway vessel, it added.

BEIJING, June 9 (Xinhua) -- Chinese President Hu Jintao left Beijing on Wednesday for the 10th annual summit of the Shanghai Cooperation Organization (SCO) scheduled for June 10-11 in the Uzbek capital of Tashkent.Hu will also pay state visits to Uzbekistan and Kazakhstan as guest of Uzbek President Islam Karimov and Kazakh President Nursultan Nazarbayev respectively.Established in 2001, the regional body SCO now groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.

BEIJING, July 27 (Xinhua) -- China's largest gold producer said on Tuesday its operating profits rose by three fold to 1.55 billion yuan (228.09 million U.S. dollars) in the first six months this year.China National Gold Group Corp. said in a statement that its first-half revenue grew by 98 percent from a year earlier to 27.67 billion yuan and expected its full-year revenue to reach 50 billion yuan.At the end of June, the gold producer had 1,250 tonnes of gold reserves, eight million tonnes of copper reserves and 1.6 million tonnes of molybdenum, according to the statement.In the first half of 2010, the company added a total of 24.7 tonnes of gold, 683,000 tonnes of copper and 445,000 tonnes of molybdenum to its reserves, said the statement.The company had improved its development strategies through conducting merge and acquisitions, integrating regional resources and exploring overseas, said Sun Zhaoxue, general manager of the gold producer.