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Another two closed-end stock funds have received official approval from China's securities regulator, Xinhua learned from a company source here on Friday.     The China Nature Asset Management Co. Ltd's Tianzhi Fund and the Dongwu Fund run by Soochow Asset Management Co., Ltd received regulatory approval from the State Securities Regulatory Commission Friday.     The Tianzhi stock fund will open through China Communication Bank, China Construction Bank, the Agricultural Bank of China, the Industrial Bank Co., Ltd, Shanghai Pudong Development Bank, CITIC Bank, Minsheng Banking Corp., Ltd, and with big brokers.     The Dongwu fund is to be issued by the Industrial and Commercial Bank of China, the Agricultural Bank of China, China Construction Bank, the Postal Savings Bank, Huaxia Bank and qualified individual brokers.     Both companies declined to say how much they expected to reap from the listing.     Four stock funds launched by Bank of China Investment Management Co., Ltd. and AXA SPDB Investment Managers, CCB Principal Asset Management Co. and China Southern Fund Management Co., respectively, received official approval in the first half of February.     Of the four, CCB Principal Asset Management's Jianxin Fund and the Nanfangshengyuan Fund run by China Southern Fund Management Co. made their debut on Feb. 18.     Market analysts said the launch of these funds was expected to bring a new round of fresh capital into the sliding stock market.     China's securities watchdog suspended the launch of new funds late last year in reaction to the surging domestic stock market. The Shanghai Composite Index nearly doubled last year.

The highly anticipated Beijing-Shanghai high-speed railway will begin construction next month, a Ministry of Railways official said.The ministry source, who did not want to be named, confirmed in a phone interview yesterday that preparations are now being made for a ceremony to commence construction of the system.Based on that timeframe, the railway will be completed by 2013. Trains running on the 1,318 km railway will then be able to travel at speeds of up to 350 kph and will cut travel time between the two cities from the current 10 hours to less than five.The project involves one of the largest amounts of investment on railways. Industry sources say it will cost more than 200 billion yuan ( billion), more than the 180 billion yuan needed for the Three Gorges Project.Officials say the project will also employ a set of locally developed high-speed railway technology for the first time.The country is said to have already mastered the technologies needed to lay high-speed rail tracks and trains.The first homegrown train able to reach 300 kph rolled off the production line over the weekend, marking China's entry into "an elite club that includes Japan, France and Germany to become the fourth country capable of making such trains", Wang Yongping, Ministry of Railways spokesman said.Officials added that the railway still relies on foreign companies, such as the Germany-based Siemens, to build its signal network and other systems.China has been upgrading the scale and speed of its railway network in the past decade, and the 11th Five Year Plan period (2006-10) is regarded as a critical period for building high-speed railways that can travel at speeds of 200 kph as part of an extensive transport network.At least eight express passenger railways were being constructed as of last year.Xinhua contributed to the story

BEIJING -- China's education officials are joining with employment authorities to mount investigations into reports of agencies and individuals who lure minors to work, said the Ministry of Education on Thursday."We have received reports that some agencies and individuals lured minors to work on the pretense of introducing them to part-time jobs or internships," said the ministry in a circular.Education authorities across the country will join with officials who have law enforcement powers in labor departments and commerce and industry administrations to intensify supervision and management to stop illegal employment of minors by agencies and individuals, it said.The ministry asked its local branches and all schools to be aware and report illegal employment to the authorities.Chinese law bans minors under the age of 16 from working and those between 16 and 18 must be given easier and safer work than adult workers.Employers who violate the law can be fined and, if the crime is serious, their business licenses will be withdrawn.In June, private brick kilns in north China's Shanxi Province were found abusing workers, many of whom were underage, in a forced labor scandal.A total of 95 officials in the province have been punished in the wake of the forced labor scandal.The ministry also warned vocational schools not to violate regulations on internships, which ban students from interning during their first year.Most vocational schools in China take in students who finish three years in secondary school, but do not go to high school.In 2004, a private vocational school in southeast China's Jiangxi Province was caught luring first-year students to work full-time in an electronic hardware factory during their summer vacation by promising free tuition.

DALLAS -- Several leading US airlines have asked federal regulators for the right to operate new nonstop flights between the United States and China beginning in March 2009.American, the largest US carrier, said it applied Monday for a route from Chicago's O'Hare Airport to Beijing. A similar bid failed several months ago, partly because American's management and pilots couldn't agree on work rules for the flights.Continental applied Monday to fly between Newark, N.J., and Shanghai. The Houston-based airline said its flights would serve the financial hub of New York and a large Chinese-American population in the area. US Airways said it is seeking to offer nonstop service between its Philadelphia hub and Beijing, China. Delta Air Lines Inc. asked to fly from Atlanta to Beijing and Shanghai; and Northwest Airlines Corp. filed to offer service between Detroit and the same two Chinese cities. UAL Corp.'s United Airlines proposed to fly between San Francisco and Guangzhou starting in 2008, and between Los Angeles and Shanghai in 2009. Air service between the two countries is restricted by agreements between the two governments. US airlines eager to tap the growing Chinese market must apply to the Department of Transportation for new routes. In the competition for Chinese routes, US airlines gather support from politicians and customers to sell their proposals to federal regulators. For example, American, a unit of Fort Worth-based AMR Corp., boasted support from four US senators and three governors. Schwarzenegger favors proposal for non-stop flights to China California Governor Arnold Schwarzenegger said Tuesday that he favored a proposal for non-stop air services to China from two major Californian cities. Schwarzenegger made the remarks after United Airlines submitted an application to the US Department of Transportation Monday to add daily, non-stop services from San Francisco and Los Angeles to China in 2008 and 2009. "China's more than 1 billion citizens represent an important market for Californian products and services," Schwarzenegger said in a statement e-mailed to Xinhua. "United Airlines' proposal to add a daily, non-stop service between our state and China is a great opportunity to promote California tourism and pump up our state's economy," said the governor. "Direct flights between California and China will only have a positive impact on our state and I look forward to working with United Airlines in the future as we continue to strengthen our economic ties with this important Pacific Rim partner," he added. United Airlines' application proposes a non-stop service between San Francisco and Guangzhou in 2008, and a daily non-stop service between Los Angeles and Shanghai in 2009. In 2006, exports from California to China totaled almost 10 billion dollars, up from 5.5 billion dollars in 2003 when the governor took office, according to the statement. California is the number one US state in terms of total exports to China and the top exports include computers and electronic products, waste and scrap materials, transportation equipment and heavy machinery.

GUANGZHOU: The Guangdong People's Procuratorate on Thursday called on the public to continue to help it identify and prosecute government officials found to be guilty of dereliction of duty. Figures show that of the 2,200 such cases reported by the public since 2005, 738 people in 678 cases were subsequently prosecuted. Of those, 65 were county-level officials, with five holding more senior positions. Since the beginning of 2006, the procuratorate has rewarded 23 people for providing information on such cases, Huang Liming, director of the anti-dereliction of duty division of the provincial procuratorate, said. Also on Thursday, the provincial disciplinary watchdog disclosed details of four its most serious cases. In one, two police officials in Huazhou, Guangdong, were charged with torturing to death Huang Weiqing in November 2002, who had earlier been arrested for being a grifter. A court heard how police officer Huang Weiguang, who had been drinking alcohol prior to interrogating the suspect, repeatedly beat the man about the head, chest, back and legs until he lost consciousness, in a bid to extract a confession. Huang Weiqing later died of his injuries on November 14. A second police officer, Li Hanyu, was found guilty of failing to intervene; he instead simply left the room. Almost 40 police officers from the station unanimously testified that the suspect had killed himself by hitting his head on a table while being questioned. However, the dead man's family continued to appeal to government departments for justice. The provincial procuratorate eventually set up a special team and after a two-month investigation reached its decision on the police officers involved. Huang was sentenced to life imprisonment, while Li got two years for dereliction of duty. A number of other police officers were also punished. In another case, Fu Zuoqing, the former president of the Qingyuan Intermediate People's Court, received 11 years' imprisonment for misuse of power, bribery and embezzlement.

来源：资阳报