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LHASA, March 14 (Xinhua) -- Five bouquets of lily and chrysanthemum, one for each of the five young women who died in the riots exactly a year ago. "We are here today, to bring you our best regards," murmured Tang Qingyan, manager of the Yishion casual wear outlet in downtown Lhasa. "May you be happy every day in heaven." Yishion, one of the 908 shops torched by the rioters on March 14, 2008, lost five employees, including four Han nationals and one Tibetan. The women were aged between 19 and 24. Exactly a year after the tragedy, Tang brought six employees to mourn the dead Saturday on the exposed riverbed of the Lhasa River, whose water has, in the dry season, given way to a huge expanse of sand and cobblestones. The place was quietly sandwiched between high mountains and the "Sun Island", Lhasa's new development project with restaurants, apartments and villas. The occasional whining chirps of aquatic birds added to people's woes. Silently, the group laid offerings on the ground: five candles, piles of "paper money", incense sticks, and two strings of firecrackers. "Here, we've brought you some money, too, so that you won't be short of cash," said Tang as he led four young women and two men to put the "paper money" in a little flame they lit on the ground. The Chinese traditionally burn "paper money" for the deceased, hoping they would have enough cash in the afterlife. "Dear sister, I've got your favorite sweater," Zeng Yaoyao sobbed as she put a white sweater in the flame. "Please rest in peace." Zeng, 20, said she dreamed of her cousin Yang Dongmei Friday night. "I was so excited I ran up to embrace her. Then she said something about her sweater. I woke up in tears."Photo taken on March 14, 2009 shows the manager of the Yishion garment store Tang Qingyan (C) and employees mourn by the Lhasa river the five sales assistants burned to death in an arson attack by the rioters on March 14, 2008, in Lhasa, capital of southwest China's Tibet Autonomous RegionOf the five dead, Yang, Liu Yan and Chen Jia were still single. "According to the customs in our home province Sichuan, the death of an unmarried daughter is considered evil. They could only be buried in the obscure graveyard far from their homes," said Tang. The three girls' parents therefore agreed to have their ashes spilled into the Lhasa River. "It's a beautiful place, even better than our home province," Tang said. Tsering Zhoigar, the only Tibetan girl, was taken to her hometown in Xigaze Prefecture for the "sky burial", the traditional Tibetan burial. Tsering Zhoigar's close friend Basang joined Yishion after the torched store was revamped and reopened in May. "I used to spend a lot of time with her at her store after work. Now that she's gone, I feel closer to her by doing her job." Six sales women huddled together on the second floor of the store when rioters set the ground floor on fire. Zhoi'ma, 24, was the only one to escape the fire site at the last minute. A year after the tragedy, the nightmare still clings to Zhoi'ma, who refused to talk to the media and stayed away from the mourning. "We called many times on her cell phone, but she didn't answer," said Tang. "She told me this morning she was going to mourn her friend Zhoi'gar in the Tibetan way, and at monasteries." Towards the end of the mourning, the flames spread to burn card-boards they had carefully propped up with cobblestones to contain the fire. With all the offerings burnt, the group threw the bouquets into the river. A young man lit firecrackers before he stood with others, bowed, and paid a silent tribute to the dead. Four police officers, who had been silently watching the scene, lowered their heads, too. "It's sad indeed. That's why we have tightened security this year to avoid similar tragedies," said one of them, who refused to be named. Tang still stays in touch with families of the dead. "These good girls were all their families" breadwinners," he said. "Zhoi'gar worked with me for three years and Yang Dongmei, my wife's younger cousin, worked for a year."Photo taken on March 14, 2009 shows employees of the Yishion garment store put bunches of fresh flowers into the Lhasa river to mourn the five sales assistants burned to death in an arson attack by the rioters on March 14, 2008, in Lhasa, capital of southwest China's Tibet Autonomous RegionTang had known Chen Jia, the youngest of the five, since she was a toddler. "Her father is my close friend. Until the day she died, she'd been worrying for her younger brother, who was blind in one eye." With the government's compensation for Chen Jia's death, her parents had arranged an operation for her brother, Tang said. "Now I hope she'll have nothing more to worry about." Tang hadn't had the time to get familiar with the other two girls, Liu Yan and He Xinxin, who had worked for a week and three days respectively. He Xinxin's parents took her home to the central Henan Province after the riots. "Her cousin used to work in Lhasa, but left for home before the new year holidays," said Tang. "I had planned to take all my 14 employees here to mourn them today, but I didn't want everyone to point to my store and say 'hey, look, Yishion is closed,'" he said. "Together, we'll try to walk out of the shadow soon."
BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday. "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement. The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement. Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange. The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement. Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production. Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo. Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning. Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto. They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.

BEIJING, April 3 (Xinhua) -- After a mere four-and-a-half hours, world leaders at the G20 summit in London decided to devote about 1 trillion U.S. dollars to supporting world economic growth and trade, an outcome that surprised many analysts with its scale. But in that scant time, China had a chance to showcase its growing importance in the world economy. China said it would contribute 40 billion U.S. dollars to the International Monetary Fund's (IMF) increased financing capacity. That's only a small portion of the total, but it could take China's IMF voting rights from to 3.997 percent from 3.807 percent. China's new voting share would still far behind that of the United States, which is first with about 17 percent. However, since many countries' voting shares in the IMF are well under 1 percent, any incremental change gives a member just a little extra say in the workings of the multilateral organization. And so the potential change is a small step toward China's goal of having more influence on how the IMF, and the world financial system, operates. HIGHER FINANCIAL STATUS Economists said China's proposed contribution of 40 billion U.S. dollars was in line with its current development level and would mean a more influential voice for Beijing in international financial institutions and in shaping the world economic order. "China's promise of extra funding was a contribution to the world economy and showcased the country's clout," said Zhao Jinping, an economist with the State Council's (cabinet's) Development Research Center. Tang Min, deputy secretary general of the China Development Research Foundation, said the country's voting rights and quota of contributions to multilateral bodies still fell short of its status as the world's third-biggest economy. He said China would further step up its contributions, and influence, as its economic power grew and reforms of the international financial system went forward. Zhao said it was part of a long-term trend for developing countries like China to have more influence in decision-making at international financial institutions, noting that the "obsolete mechanism and structure of world financial organizations" failed to reflect an evolving world economy. British special G20 envoy Mark Malloch-Brown was quoted in the China Securities Journal on Thursday as saying that an overhaul of the world financial system should start with international financial institutions and reforming the IMF meant China's voice must be bigger. The G20 leaders' statement was a "positive signal" in that it gave a timetable for reforming the IMF and the World Bank, said Zhang Bin, an expert with the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, a government think tank. Zhao said China's obligations to international financial institutions should reflect not just the country's size but also the fact that China is still a developing country. He urged China to expand its influence by actively joining multilateral or regional dialogues and offering more proposals on international issues. "It should be a step-by-step process for China to shoulder more responsibility. It can't be accomplished in just one move," said Zhao. LONG ROAD TO REFORM Be it "a turning point," as U.S. President Barack Obama stated, or "a new world order," as British Prime Minister Gordon Brown claimed, the G20 summit was a major step in reshaping the global financial system, but there was still far to go, Chinese economists said. "China should seek to expand its IMF quota and voting rights further after the summit. Although the statement give a timetable for reform, it remains unclear whether the goal can be achieved because that would affect the interests of the United States and the European Union," said Mei Xinyu, a researcher at China's Ministry of Commerce. The G20 statement reads in part: "We commit to implementing the package of IMF quota and voice reforms agreed in April 2009 and call on the IMF to complete the next review of quotas by January 2011." "On the one hand, China could count on the IMF restructuring, and on the other hand, it may start again somewhere else. For instance, it can push forward the establishment of the 120-billion-U.S.-dollar reserve pool agreed by several East Asian countries," Mei said. Leaders of the 10 members of the Association of Southeast Asian Nations plus China, Japan and the Republic of Korea agreed last month to speed up the creation of a foreign-exchange reserve pool of 120 billion U.S. dollars to address liquidity shortages. Mei described the pool as an "Asian Monetary Fund," saying it could partly replace the IMF in Asia and help increase use of the Chinese currency in international trade. Another government economist, Wang Xiaoguang, said the agreement served as a foundation for more concrete policies to tackle the global downturn and this would be good for global stability and China's own economic recovery. Wang added that it was unrealistic to change the global financial order immediately, because it would cause conflicts among major economies. "They will rework the current system rather than introduce a new one," he said. Zhuang Jian, an economist at the Asian Development Bank, said the biggest challenge was how to implement those commitments. China should closely monitor the implementation of the agreement and decide whether its short-term objectives could be realized. "China's appeals will be discussed after the summit," he said, referring to financial market reform and the position of emerging countries in the international financial system. "I think the country will have a bigger say in the global financial system. But the G20 summit is just a forum, and if the global economy worsens, the agreement might end up as nothing more than words," he said.
HONG KONG, April 12 (Xinhua) -- About 400 enterprises in the Chinese mainland had been selected to participate in the Renminbi cross-border trade settlement pilot program, Under Secretary for Financial Services and the Treasury of Hong Kong Julia Leung said here Saturday. Speaking on a radio talk show here Saturday, Leung said enterprises in Hong Kong would soon be able to settle trades in Renminbi through the banks with the selected companies in the Chinese mainland. Noting the program can reduce the risks and cost arising from fluctuations in exchange rates, she said Hong Kong banks could expand extensively their Renminbi services from individual clients to enterprises. When asked whether the scheme includes trade financing, Leung said authorities in the Chinese mainland would announce the details soon. "The Monetary Authority has made full preparation for the program including conducting tests on the Renminbi clearing system," Leung noted, adding that "the system can start operation once the Chinese mainland comes up with the operational details." When asked whether the Hong Kong Special Administrative Region (HKSAR) government would change Hong Kong's linked exchange rate with the U.S. dollar, the under secretary said the system had been working effectively and the HKSAR government had no plan to change it.
TAIPEI, April 20 (Xinhua) -- Taiwan authorities has temporarily raised the daily quota of mainland tourists from 3,000 to 7,200, to cope with the increasing number of travelers. Tse Lap-kong, a Taiwanese official, said the temporary adjustment was meant to cope with the surge of tourist numbers in the coming two weeks, a travel peak season for mainlanders. It is estimated that more than 30,000 mainland tourists could arrive in Taiwan in the coming week, with a daily average of 4,100. Daily mainland tourist arrivals were less than 3,000 in the first few months since Taiwan was opened to them as a destination last July, and the temporary change would use the unfulfilled quota from that period, Tse said. The daily quota would remain at 3,000 on a yearly average, he said. Taiwan authorities might also extend the allowed period for visiting mainland businessmen and professionals, with a final decision in late April, local media reported. Business trips would be extended from a maximum of two weeks to one month, and visiting businessmen and experts would be allowed an additional five days based on their travel schedule, according to the reports. Industrial and commercial organizations with an annual turnover of more than 30 million New Taiwan dollars (883,260 U.S. dollars) would have the number of invited mainlanders increased from 50 to 200, while the number for those below 30 million New Taiwan dollars would rise to 45 from 15, said the reports. Local authorities were also planning to shorten the approval time for applications of mainland businessmen from one month to two weeks. More than 174,000 Chinese mainland tourists visited Taiwan from July last year till early April, according to mainland statistics. The daily number of mainland visitors to the island on organized trips reached about 3,000 at the end of March, he said, adding that the number soared to more than 4,000 on April 7. The Chinese mainland and Taiwan agreed to allow mainland touri
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