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BEIJING -- Chinese investors should be suspicious of phone calls, online messages and websites touting highly profitable stocks, the Ministry of Public Security warned on Tuesday. "As China's stock prices are soaring constantly, there has been a rise in the number of cases of illegal activities in the stock market, which has undermined the normal market order and threatened investor security," the ministry said in a notice on its official website. The government has repeatedly warned investors of illegal securities companies that swindle clients of funds with claims of high returns. The ministry said scam artists used Internet and phone calls to illegally tout stocks, funds or stock ownership to investors. The swindlers charged unwary investors high fees for fake stock tips and then quickly disappeared after having collected a huge sum of money. The funds or stock ownership, which were touted online or by phone, were often nonexistent, the ministry said. Investors were also hoodwinked into buying fake "initial offerings" of stocks that were not listed on the exchanges. Other scams include cases in which investors' shares were stolen and sold by criminals, who had stolen investors' account numbers and codes. The ministry urged investors to be alert and not to trust promoters who touted unrealistic high returns, or accept stock tips from unidentified persons online or on the phone. It also urged investors to be aware of computer security and to stop trading immediately when discovering a computer virus. The China Securities Regulatory Commission has pledged to curb illegal trading and fraud in the stock market. In February, the State Council approved the China Securities Regulatory Commission to lead a cross departmental team to crack down on illegal securities business.

The Bank of Communications (BoCom), China's fifth largest lender, said its net profit reached20.3 billion yuan (2.86 billion U.S. dollars) in 2007, up 65 percent from 2006.     By the end of 2007, total assets of BoCom stood at 2.1 trillion yuan, up 22.7 percent from a year earlier, according to its 2007 annual report released on Wednesday.     Net interest rate income rose 36 percent to 54.1 billion yuan and fee income from credit card sales and asset management products surged 137 percent to 7.1 billion yuan.     The Shanghai-based bank and HSBC Holdings Plc., which holds a roughly 19 percent stake in BoCom, are preparing to establish a credit card company and a pension fund company, according to the report.     BoCom, which listed on the Hong Kong stock market in 2005, returned to the mainland's A share market in April last year. Its shares rose 2.77 percent to 10.39 yuan in Shanghai on Wednesday.

Online computer games and their related services topped the complaint list of Chinese consumers last year, followed by telecom services and mobile phones respectively, the China Electronic Chamber of Commerce (CECC) said here on Saturday.     The website www.315ts.net, which falls under the CECC, received 55,817 complaints in 2007, up 23.2 percent year on year. In total,24,634 cases were related to online products and included online sales fraud, website ID information theft and online games complaints.     The chamber said complaints about refrigerators surged 114.37 percent year on year to 761 cases, the highest annual growth rate among grievances of all electronic product items.     More than 60 companies, including LG, TCL, Haier, Fuji and Canon, were rated as outstanding enterprises in dealing with customer complaints, according to the body.     The CECC also named and shamed 40 companies that did a poor job in handling customer complaints last year. These included industry and retail sales giants such as Philips, Carrefour, Shinco and Hitachi.

Rural infrastructure and social services have improved remarkably in recent years, thanks to government efforts to boost the countryside, the nation's latest agriculture census has revealed.The National Bureau of Statistics yesterday released its first report based on the 2006 census, which is designed to reflect the overall development of rural areas and the agriculture sector, as well as the living standards of rural residents.The percentage of villages which had access to road links, telephone services, electricity and TV broadcasting by the end of 2006 were 95.5 percent, 97.6 percent, 98.7 percent and 97.6 percent, according to the survey.For every 100 households in rural areas, there were 87.3 television sets, 51.9 fixed-line telephones, 69.8 mobile phones, 2.2 computers, 38.2 motorbikes and 3.4 automobiles. Meanwhile, 74.3 percent of the villages had clinics; and at the township level, 98.8 percent of towns had hospitals, and 66.6 percent, nursing homes for the elderly."The figures show the government's increased spending to improve rural livelihoods has started to pay off," said Du Zhixiong, a researcher at the Rural Development Institute of the Chinese Academy of Social Sciences (CASS).The central government has launched a slew of initiatives in the past few years to speed up the development of the countryside, which has lagged behind urban areas over the years.The aim is not only to bridge the income gap between urban and rural areas, but also improve the social services in the countryside. Last year, the per capita income of rural residents averaged 4,140 yuan (0), about a third of earned by urban residents.The central government plans to increase its budget for rural investment by more than a fourth to 520 billion yuan (.8 billion) this year, Chen Xiwen, director of the office of the central leading group on rural work, told Xinhua News Agency in an interview.Government spending on rural projects amounted to 420 billion yuan (.8 billion) in 2007 and 340 billion yuan (.6 billion) in 2006."The survey also reveals areas that should be further improved," said Du from the Chinese Academy of Social Sciences.At the end of 2006, only 48.6 percent rural residents had access to tap water; and only 15.8 percent of villages had garbage treatment facilities.The survey also found China had 530 million rural laborers at the end of 2006. Of them, 70 percent were engaged in agriculture work such as farming, forestry, livestock breeding, fishing and related services.That was nearly 5 percentage points down from the end of 1996, as more and more have moved to work in local factories or cities.There are now 130 million migrant workers from the countryside, about a fourth of the rural labor force.The latest census, the second of its kind, was conducted among more than 650,000 villages and nearly 230 million households. The first national agriculture survey was a decade ago.The NBS will release five other reports based on the 2006 survey in the coming weeks, which will cover issues such as the living conditions of rural residents and the environment of rural communities.The focus of the five reports will be on:The current situation of the agriculture sector and agriculture productionRural infrastructure and social servicesLiving standards of rural residentsRural labor force and employmentGeographic distribution and categorization of arable land.

For the first time in 300 years, the renowned Shaolin Temple held a ritual on Thursday to initiate 600 believers into monkhood. On that same day, millions of monks and believers nationwide observed the Buddha bath festival which usually includes the washing of all statues of the Buddha. The ceremony used to be considered an official ritual to recognize a believer into true monkhood. Shi Yongxin, leader of Shaolin Temple and vice- president of the Buddhist Association of China, said that Buddhism in China has embarked on a "golden era" of development with a rapidly increasing number of believers. According to Shi, China has about 100 million registered religious believers, most of whom are Buddhists and Taoists. "They form an indispensable force to construct a harmonious society," he said. Shi said the ritual was suspended for 300 years because the altar where the ritual was held was destroyed. The 26-meter-high three-storey alter was restored last year at the temple, located in Dengfeng, Central China's Henan Province. The 600 Buddhists were selected out of 1,000 pious Buddhists nationwide. Shi said that only Buddhists who have passed a long-term inspection and are believed to have a "pre-destined lot" with Buddhism will be allowed to take the ritual and admitted by the temple. "Only Buddhists who practice Buddhism to a high level can be tonsured and allowed to take the ritual," Shi said. The ritual will last 28 days during which time the 600 monks will listen to doctrines, learn Buddhism rituals and manners in the temple. Both Buddhism and Taoism seem to be attractting more believers. An international forum on the "Daode Jing", a classic of Taoism, was held last month and lured 300 Taoists from around the world who wanted to explore the true essence of the classic text.