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PRETORIA, April 1 (Xinhua) -- China has pledged to import more value-added products from South Africa to optimize bilateral trade.Top Chinese political advisor Jia Qinglin made this pledge on Wednesday when he delivered a key-note speech at the China-South Africa Economic and Trade Forum in Pretoria.South Africa was the last leg of Jia's 10-day African tour which has already taken him to Cameroon and Namibia. Jia had met with South African President Jacob Zuma and held talks with Mninwa Mahlangu, chairman of the National Council of Provinces of South Africa.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, addresses the China-South Africa Economic and Trade Cooperation Forum in Pretoria, South Africa, March 31, 2010. "China will continue to take measures to expand imports from South Africa, particularly those value-added products so as to increasingly optimize bilateral trade mix," said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body.China has become South Africa's biggest trade partner and exporter as bilateral trade hit a historic high of more than 16 billion U.S. dollars in 2009, which was over ten times than that in 1998 when the two countries forged diplomatic ties, Jia said.

XIANGNING, Shanxi, March 29 (Xinhua) -- Almost 1,000 rescuers were racing the clock through the drizzle Monday to pump water and reach the 153 people trapped underground in a flooded coal mine in north China's Shanxi Province.Altogether 261 workers were in the pit of Wangjialing Coal Mine, which was under construction, when underground water gushed in at about 1:40 p.m. Sunday. Although 108 were lifted safely to the ground, 153 others were trapped in the shaft. Rescuers carry pipes at the site of a flooding accident of Wangjialing Coal Mine, sitting astride Xiangning County of Linfen City and Hejin City of Yuncheng City, in north China's Shanxi Province, on March 29, 2010."Currently, more than 970 people are participating in the rescue operation," said Liu Dezheng, a spokesman of the rescue headquarters and deputy director of the General Office with the Shanxi Provincial Work Safety Committee, at a news conference late Monday."If everything goes smoothly, with the installation of two more high-power pumps, it is expected that 650 cubic meters of water can be pumped out of the shaft per hour tonight, and 2,000 cubic meters per hour tomorrow," he said.Previously, six pumps had been used to pump up to 300 cubic meters of water per hour around the clock.But Liu also pointed out that complicated conditions underground could hamper the operation."The coal mine has a high concentration of gas. Rescuers have to face the danger of toxic gas, while fighting the water," he said. "We must guard against secondary disasters."Therefore, rescuers had started to drill a hole and open a drainage channel in the shaft to divert water from the flooded tunnel to another unaffected tunnel, he said."The channel, with a length of more than 100 meters, is expected to be completed by 6 p.m. Tuesday," he added.Local authorities have dispatched more than 40 medical workers and 20 ambulances to stand by at the shaft entrance.President Hu Jintao and Premier Wen Jiabao have ordered local authorities to spare no effort in the rescue operation. Vice Premier Zhang Dejiang is at the site to oversee the operation.Most of those trapped were migrant workers from Shanxi, Hebei, Hunan and Guizhou provinces, rescuers said.Xu Shuwei was among the last group of workers to board a lift to escape the flood Sunday afternoon."Those trapped are my workmates, I just want to try my best to save them," said Xu, 40, who helped rescuers carry equipment throughout the night.The mine, which straddles Xiangning County, of Linfen City, and Hejin City, of Yuncheng City, covers about 180 square kilometers.The mining zone was estimated to have more than 2.3 billion tonnes of coal reserves, including 1.04 billion tonnes of proven reserves, according to the company's official website.The mine, affiliated with the state-owned Huajin Coking Coal Co. Ltd., is a major project approved by the provincial government. It is expected to produce 6 million tonnes of coal annually once in operation.Earlier this month, 32 workers were killed in a similar accident when underground water flooded a mine being built in north China's Inner Mongolia Autonomous Region.One worker died after being lifted to the ground and 31 others were presumed dead two weeks after the accident happened on March 1.Rescue work, which took 14 days and involved 20,384 people, was halted on March 14 when those trapped were believed to have no chance of survival.

BEIJING, March 31 -- The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs.BHP Billiton said on Tuesday that it had concluded agreements with a significant number of Asian customers to shift pricing for the majority of its iron ore to short-term contracts, which are based on market prices.A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.Vale wants a new pricing system every quarter, said Pedro Gutemberg, director of marketing and research at Vale in Beijing on Tuesday, speaking at an industry conference"A more time-adjusted pricing mechanism is needed in order to better reflect real market prices," he said. "Benchmark prices are over. This is a market-oriented industry."That shift may be of some value to smaller steel mills."Vale has offered quarterly priced iron ore to us, which means we could buy iron ore at the same prices that large steel mills pay," said a sales manager at a small, private steel mill that doesn't have an iron ore import license.

TASHKENT, May 1 (Xinhua) -- When and how the exchange rate of Chinese Yuan should be adjusted must be decided by the Chinese government, the president of the Asian Development Bank (ADB) said Saturday.Addressing the opening press conference of the 43rd annual meeting of the ADB's Board of Governors, Haruhiko Kuroda said the yuan issue was "up to the Chinese authorities to decide."Meanwhile, Kuroda also said it was up to Chinese authorities to decide how and when to implement exit strategies.Kuroda acknowledged China played a leading role in the recovery of the Asia-Pacific region from the global financial crisis thanks to the 8.7-percent growth of its gross domestic product (GDP) last year.Haruhiko Kuroda, president of Asian Development Bank (ADB), speaks during a press conference in Tashkent, Uzbekistan, May 1, 2010. ADB began its annual meeting of the Board of Governors in Uzbekistan on Saturday. Kuroda said the Chinese economy would maintain a high growth rate, with a forecast of 9.6 percent of GDP growth this year and 9.1 percent next year.Despite the fact that China's substantial fiscal measures were not the same as those implemented during the crisis, Kuroda believed that sooner or later the government would mull over an exit from these measures given the strong economic growth.Besides China, all Asian countries should carefully time their exit strategies to unwind their anti-crisis fiscal and monetary policy measures, he said.The ADB began its 43rd annual meeting on Saturday with a pivotal focus on poverty, climate change and regional integration. It is the first time the ADB held its annual meeting in a Central Asian state.

BEIJING, April 1 (Xinhua) -- Chinese Premier Wen Jiabao has pledged to further reform of income distribution to narrow the gap between rich and poor and secure social stability.In an article published Thursday in Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, Wen said greater efforts were needed to build a rational income distribution structure."If the income gap continues to widen, it will pose a major threat to our economic development and social stability," Wen wrote. "We are poised and capable of gradually resolving this problem with a sound momentum of economic and social development and greater sustainability in various fields."Complaints have been growing about how the income growth of many Chinese was lagging behind the rise in state fiscal revenue. Low incomes have been blamed for dragging down consumer spending."We will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system," Wen wrote.