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DONGXIANG, Jiangxi, May 23 (Xinhua) -- At least three people were killed in east China's Jiangxi Province when a passenger train derailed after being hit by landslides at Sunday dawn, railway authorities said.The train, bound for the tourist city of Guilin in south China's Guangxi Zhuang Autonomous Region from Shanghai, derailed at around 2:10 a.m. in Dongxiang county, Fuzhou city in Jiangxi, the Ministry of Railways said in a press release. At least ten passengers were injured.Xinhua reporters who rushed to the scene saw the locomotive, plus eight of the 17 carriages of the train -- coded K859 -- derailed and some even overturned in the mountainous area of Jiangxi. One carriage was twisted and crushed on the other. Rescuers work at the site where a passenger train derailed in Dongxiang County, east China's Jiangxi Province, May 23, 2010. At least three people were killed, 10 more injured in Dongxiang when a passenger train derailed after being hit by landslides at Sunday dawn, authorities said"Each of the train carriages has 118 seats. It is not yet immediately known how many passengers were on board," said a police officer surnamed Luo, who was from the Railway Bureau in Nanchang, Jiangxi provincial capital.He said the bureau has called for all of its four legal medical experts to the accident site to help identify the dead."We are afraid the casualty may soon rise, as four of the derailed train cars were severely deformed in the accident," he said.Xinhua reporters saw rescuers using cutting equipment to open an entrance in order to get into one of the derailed carriage. A locomotive has arrived to help pull up the carriages.A rescue official surnamed Yu said hundreds of armed police, firemen and soldiers are trying to rescue those who remained trapped inside the train.More than a dozen ambulances were parked along the tracks.Rescuers told Xinhua at least 20 injured passengers were saved. Four in serious conditions were rushed to hospital.Trains on the Shanghai-Kunming railway were halted after the accident.Minister of Railways Liu Zhijun has ordered all-out efforts to save lives, to restore the railway transport and to launch a thorough investigation of the cause of the accident. [ Governor of Jiangxi Wu Xinxiong arrived at Dongxiang early Sunday morning to direct the rescue operations.Most parts of Jiangxi, along with neighboring provinces, were drenched by heavy rains in the past few days. Farms were destroyed, low-lying villages and towns flooded, and at least four reservoirs were forced to release fast-rising water.Local authorities said around 1.46 million residents were affected, with 44,600 being evacuated out of dangerous zones.In parts of south China, rainstorms since early May have triggered floods and mud-rock flows, swollen rivers, burst dikes, threatened reservoirs and damaged highways, bridges and power facilities.

BEIJING, May 19 (Xinhua) -- Major indices of China's large ports mostly pointed to better performance in April with increasing cargo throughput and exports volume, the Ministry of Transport said Wednesday.According to latest figures posted on the ministry's website, China's large sea ports and river ports saw rapid throughput growth in cargo, exported goods volume and containers from January to April.Passenger throughput via large ports, however, fell 18.5 percent from a year earlier to 295 million in the first four months of 2010, the ministry said.Large ports are classified in China as sea ports with an annual cargo throughput above 15 million tonnes and river ports with an annual cargo throughput above 10 million tonnes.From January to April, cargo throughput in those large ports jumped 20.2 percent year on year to about 2.48 billion tonnes, the ministry said.About 206.5 million tonnes of goods were exported via the large ports during the January-April period, up 27.2 percent from a year ago.Container throughput rose 22.4 percent year on year to 436.81 million TEUs in the first four months, according to the ministry.

BEIJING, May 25 (Xinhua) -- Chinese Vice Premier Li Keqiang said Tuesday China must accelerate its transformation of economic growth pattern as the global economy was undergoing structural changes.Li made the remark when he met with members of the International Advisory Council of the China Development Bank (CDB) in Beijing.Li briefed the advisory council members about China's economic situation and its macro-economic policy.He said China had to advance its economic restructuring while continuing the process of reform and opening, to improve people's livelihoods and to enhance the vitality, competitiveness and sustainability of the economy. Chinese Vice Premier Li Keqiang (front L) meets with members of the International Advisory Council of the China Development Bank (CDB) in Beijing May 25, 2010.Li said the world economic recovery was still fragile and faced a great deal of instability and uncertainty. He said the international community should further enhance policy coordination and improve the financial supervision system.The International Advisory Council of the CDB was established in 1999. It consists of notable figures from political, financial and academic circles around the world, including former Australian Prime Minister Paul Keating.The advisory council members were in Beijing for an annual meeting focusing on global economic and financial situation, the international financial crisis and the CDB's role in economic recovery.During the meeting with Li, Keating relayed his appreciation of China's success in maintaining stable and fast paced economic growth and contributing to the recovery of world economy.Keating said over the years, the advisory council members had come to realize that the CDB was a rare and valuable institution. He expressed willingness to further expand links between the CDB and institutions outside of China.

BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.

WASHINGTON, April 22 (Xinhua) -- The U.S. Commerce Department said on Thursday that it has set preliminary antidumping duties ( AD) on imports of certain seamless pipe from China, a move that might escalate trade disputes between the two countries.The department said it "preliminarily determined that Chinese producers/exporters have sold seamless pipe in the United States at 32.39 to 98.37 percent less than fair value."As a result of this preliminary determination, Commerce will instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates.The products covered by this investigation are suitable for the conveyance of water, steam, petrochemicals, oil products, natural gas, and other liquids and gasses in industrial piping systems.Imports of certain seamless pipe from China were valued at an estimated 182.3 million U.S. dollars in 2009, according to the U.S. Commerce Department.Commerce said that it is currently scheduled to make its final determination in September 2010.If Commerce makes an affirmative final determination, and the U. S. International Trade Commission makes an affirmative final determination that imports of certain seamless pipe salts from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order.The new case followed the Commerce Department's initiation of antidumping (AD) and countervailing (CVD) duty investigation on Chinese aluminum extrusions on Wednesday.The protectionist moves by the Obama administration will ultimately hurt the U.S.-China trade relations, which are becoming more and more important due to the global financial crisis, economists warned.The onset of the global recession appears to have set off an increase in trade disputes around the world.Globally, new requests for protection from imports in the first half of 2009 are up 18.5 percent over the first half of 2008, according to the World Bank-sponsored Global Anti-dumping Database organized by Chad P. Bown, a Brandeis University economics professor.That increase follows a 44 percent increase in new investigations in 2008. And China has become the main target of the rising protectionism.