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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.

SHENZHEN: Companies in the Pearl River Delta area, the country's manufacturing powerhouse, are raising wages to attract migrant workers amid fears of a worsening labor shortage, a survey has shown.The survey was conducted by the service center of Guangzhou human resources markets, which looked at 252 companies with at least 200 employees each.The poll found out that the average monthly salary offered to new staff was up 13 percent from last year at 1,160 yuan (2).The survey also showed that nearly 70 percent of the companies said they will hire new employees this year, up 20 percent from the same period of last year.Still, the number of job-hunters has decreased and are said to be more picky, the Guangzhou Daily reported.The first job fair in Guangzhou after the Spring Festival break on Friday reportedly offered about 7,000 vacancies, but attracted only 4,000 job-seekers.Figures from the Guangzhou labor authority showed that sectors such as the textile, toy-making, construction, catering, electronics and service industries were top of the list for workers.It was particularly difficult for the textile and toy-making industries to hire workers since such companies could offer an average monthly salary of just 960 yuan, far below what is available across the board, the labor authority said.The situation was said to be similar in other cities in the Pearl River Delta region, such as Shenzhen and Dongguan, which has seen industrial restructuring and experienced the impact of the new labor law, researchers said.However, research by the Asian Footwear Association showed that close to 1,000 shoemaking factories closed or moved out of the Pearl River Delta region last year, with 25 percent setting up in Southeast Asian countries, 50 percent in other mainland cities and about 25 percent adopting a wait-and-see approach."The industrial repositioning of the Pearl River Delta region has forced some of the companies in the region, especially those with less competitive edge in the market, to close or move out," Ding Li, a researcher with Guangdong Academy of Social Sciences, said."The flow of migrant labor has been a clear indication of that."The appreciation of the yuan, raw material price hikes and adjustment of export policies have also seen many private firms and companies funded by businesses from Hong Kong, Macao and Taiwan slowing down demand for migrant workers, the Guangdong labor authority said.

Wu Bangguo,chairman of the Standing Committee of the National People's Congress,delivers a speech during the seminar marking the 10th anniversary of implementing the Basic Law in Beijing June 6, 2007. [Reuters]The central government will continue to support Hong Kong in developing a democratic system that suits its conditions, but any reform must be gradual and in accordance with the Basic Law, top legislator Wu Bangguo said yesterday in Beijing. Wu, chairman of the Standing Committee of the National People's Congress, the top legislature, made the remarks at a seminar marking the 10th anniversary of implementing the Basic Law. The Basic Law is the constitutional document for the Hong Kong Special Administrative Region (SAR). It enshrines the key concepts of "one country, two systems", "Hong Kong people governing Hong Kong" and "a high degree of autonomy". Wu said events have proved, and will continue to prove, that the principle of "one country, two systems" is workable and feasible and the Basic Law is a sound law able to withstand the test of time. He emphasized that Hong Kong must uphold State sovereignty and ensure prosperity and stability while enjoying a high degree of autonomy. Being an SAR directly under the central government, "Hong Kong's high degree of autonomy is not intrinsic, but authorized by the central government". "It only has as much power as authorized by the central government. There is no so-called residual power." But Wu said the central government will never interfere in affairs within the purview of the autonomy of the SAR. Hong Kong Chief Executive Donald Tsang said at the seminar that the SAR has retained its international features, rule by law and various kinds of freedoms guaranteed by the Basic Law after its return to the motherland. "With State care and assistance, we have strived to display our unique advantages and made significant achievements widely recognized by the international community," Tsang said. The Basic Law has laid a solid foundation for Hong Kong's economic and social development and the improvement of people's livelihood, he added. Former secretary of justice Elsie Leung added that to achieve the ultimate goal of universal suffrage, and maintain prosperity and stability in Hong Kong, it is necessary to have a clear understanding of the relationship between the central government and Hong KongLeung said Hong Kong has made gradual progress in democracy in accordance with the Basic Law over the years. Since its return to the motherland in 1997, the number of members in the Election Committee, which elects the chief executive, has grown from 400 to 800; and they are from different social strata and sectors. In the Legislative Council, the number of directly elected seats has also increased from one-third in the first term to half in the third term. The Basic Law itself is a result of broad participation of Hong Kong citizens as well, Wu said, pointing out that 23 of the 59 members of the drafting committee were from Hong Kong. The full text of the draft law was made public twice for public comments. Different social strata, sectors and groups in Hong Kong came up with nearly 80,000 comments and proposals. "In other words, each and every article of the Basic Law represents the broad consensus of Hong Kong society," Wu said.

China's trade in goods will surpass .1 trillion in 2007, a 20 percent year-on-year increase, the Ministry of Commerce said in a report Thursday. Trade will increase in a fast yet stable manner as China optimizes economic structure, improves efficiency and lowers energy consumption, said the report, which is based on a review of China's foreign trade in 2006 and the first quarter of 2007. China's total import and export volume amounted to .76 trillion in 2006, up 23.8 percent year-on-year. China remains the third-largest country in the world by trade volume, according to the report released by the China Academy of International Trade and Economic Cooperation, a research body under the Ministry of Commerce. The domestic and foreign trade environment and the macro-control policy have contributed to the rapid increase, the report said. The trade surplus continued to grow, reaching 7.5 billion in 2006, according to the report. Exports of machinery and electronic products and hi-tech products increased 28.8 percent and 29 percent respectively in 2006. Imports of primary products reached 7.1 billion, up 26.7 percent, while imports of machinery and electronic products increased faster than the previous year, up 22.1 percent. General trade - imports and exports of goods by enterprises in China with import-export rights - increased at a rate of 26 percent, 5.1 percentage points higher than last year, while the increase of processing trade slowed. Exports of privately owned enterprises surpassed State-owned enterprises for the first time, up 43.6 percent. The trade volume of private enterprises was up by 36.3 percent, while the trade volume of foreign-invested enterprises increased by 23.3 percent, faster than State-owned enterprises. Trade with foreign invested enterprises took in 58.9 percent of the total trade. Trade with the European Union, United States and Japan continued to grow, as did trade with emerging markets, including India, Brazil, and South Africa. Trade volume in the first quarter of 2007 reached to 7.7 billion, up 23.2 percent, while the trade surplus nearly doubled to .4 billion from the same time last year. Trade in goods increased by 27.4 percent from January to April, faster than processing trade. Gov't to raise export taxesChina will raise export taxes by 5 to 10 percent on a range of products, including steel, aiming to slow the country's export boom and ease the country's trade surplus, government sources said yesterday. Beijing also plans to further reduce tax rebates on some exports, including some basic materials and textiles. It would remove import taxes on coal and reduce import taxes on other raw materials, according to officials from three government bodies - the National Development and Reform Commission, the Ministry of Commerce, and the State Administration of Taxation. "The plan has already been established basically," said a source in Beijing, noting that the changes could go into effect as early as June 1. China's exports of steel products hit a record 7.16 tons in April, as mills and traders raced to beat a change in export policy that took effect on April 15. China removed export rebates on most types of steel products while reducing the rebate on more value-added products to 5 percent. A proposal to raise the export taxes on steel billet and other semi-finished products to 20 percent has been discussed since early May, but has not yet been approved by the central government, a source said.

The country's trade surplus last month continued its downward trend, with efforts to curb exports paying off and imports rising, authorities said on Friday.Figures from customs authorities showed the trade surplus last month was .49 billion, below December's .7 billion and the record high of .1 billion set in October last year."For the first time since May, the trade surplus is under billion," customs said on its website.Exports rose 26.7 percent from a year earlier to 9.66 billion, while imports rose 27.6 percent to .17 billion, the government agency said. Import growth outpaced exports for the fourth month in a row.Experts said the surplus dropped due to policies put in place last year to curb exports. The authorities had introduced a raft of policies since early last year, including VAT cuts, to discourage exports of energy-intensive, polluting products."China's policies to encourage imports and cut the trade surplus are also helping a lot," Zhang Xinfa, an economist with Beijing-based China Galaxy Securities, said.As a result of the tightening policy, the processing trade last month was .85 billion, up 15.8 percent year on year. But the growth rate slowed by 9.9 points compared with the same period last year.The appreciation of the yuan also played a role in curbing exports."Many exporters are facing difficulties due to rising costs and the yuan's appreciation, and export momentum will ease in the coming months," Li Yushi, a researcher on trade with the Ministry of Commerce, said.According to Li Peng, spokesman for Asia Footwear Association, more than 1,000 shoe factories in Guangdong province closed down last year.The firms went bankrupt due to high costs driven by the removal of an export tax refund, a stronger yuan, rising raw material prices and labor costs, Li said.The stronger yuan also makes imports cheaper, which is one reason behind the strength seen in Friday's data, Zhang said.The European Union remained as China's largest trade partner last month, with bilateral trade of .28 billion, up 30.1 percent year on year.The EU was followed by the United States. Trade between China and the US last month increased by 12.2 percent year on year to .23 billion, despite looming recession in the US economy.China's trade surplus last year stood at 2.2 billion, with total trade volume hitting a new high of .17 trillion, up 23.5 percent from a year earlier.