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BEIJING, Feb. 10 (Xinhua) -- It's supposed to be a time of family reunions, new year greetings and fireworks, but blizzards and accidents on Wednesday put a damper on the Chinese New Year.The country is experiencing the peak travel period with millions of people are eager to get away from tough jobs to go home for the most important Chinese holiday, which falls on Sunday. The mass movement of people is the largest human migration on the earth.In the southern Guangdong Province, China's business hub, about 100,000 migrant workers are expected to ride motorcycles to go home to neighboring Hunnan, Guizhou and Guangxi provinces, to avoid train jams and high train ticket prices."It will be a tiring 10-hour motorcycle ride, but I can save a lot of money by not taking a train," said a migrant worker surnamed Huang who set off at 6 a.m. Wednesday for his home in neighboring Guangxi Zhuang Autonomous Region.Traffic police set up more than a dozen rest areas along major national highways so workers could warm their hands, drink some hot tea and repair their motorcycles before continuing their trip.Railway stations across the country have been crowded with millions of migrant workers carrying belongings and trying to buy tickets home. For some, this is the one chance they have per year to return home with gifts for their family. The railways are expected to carry 210 million passengers during the 40-day travel period that began January 30.But a blizzard that hit at least six provinces and regions in northern China Tuesday and Wednesday has disrupted tens of thousands of homecoming trips.Railway authorities say trains will slow down once fresh snow measures 40 cm. Train service will be halted if the snow depth exceeds 50 cm.The Ministry of Transport said at least 24 expressways were closed nationwide amid heavy snow by Wednesday morning in the provinces of Shanxi, Shaanxi, Hebei, Shandong and Henan, as well as in Inner Mongolia Autonomous Region.Besides the bad weather, traffic accidents caused by the crush of people and tired driving are straining the nerves of passengers and government officials.More than 600 traffic accidents occurred in the northwestern Ningxia Hui Autonomous Region between Tuesday and Wednesday. No casualties were reported, said the regional traffic police.In Gansu Province, nine people were killed and another 24 injured after a bus with 33 passengers veered off the road and fell into a ravine Wednesday morning near Longnan City.More than 270,000 police have been busy trying to keep order on the roads, cracking down on speeding, overloading and other offences, according to the Ministry of Public Security.The holiday is also an annual headache for authorities as workshops, mostly illegal and poorly run, are speeding up production of fireworks, a must have item when celebrating the Spring Festival.Three people died and another two were injured Wednesday after a blast in a fireworks plant in Anshun City in southwest China's Guizhou Province.
BEIJING, Feb. 11 (Xinhua) -- Chinese Vice Premier Li Keqiang Thursday called for greater efforts in boosting maritime activities, especially scientific expeditions to polar regions and the oceans.Li extended New Year's greetings via video signals and phone calls from Beijing Thursday to members who have been performing scientific expedition missions in oceans and polar regions.He also emphasized the importance of integrating domestic development and opening-up, serving the nation and benefiting mankind."Human activities have been spreading at an even faster speed from land to seas and oceans, polar regions, outer space. More and more people have got to know the important effects of the Antarctic, the Arctic and oceans on the global environment and development, "said Li,"a growing number of countries are eyeing the economic and scientific resources hidden there." Chinese Vice Premier Li Keqiang (2nd R) salutes to members of Chinese exploration teams at the Antarctica, the Arctic and on the ocean through video telephone at the State Oceanic Administration in Beijing, China, Feb. 11, 2010Li called on scientific expeditionists and maritime workers to continue to carry forward fine traditions and make greater efforts in furthering scientific expedition and research capabilities. He also emphasized the importance of fostering a professional team to advance the expedition activities to the polar regions and oceans. Chinese Vice Premiers Li Keqiang (front C) visits the State Oceanic Administration in Beijing, China, Feb. 11, 2010.China has set up three stations in the Antarctica and an Arctic station known as "Huanghe". China's 26th Antarctic expedition team began its journey Oct. 11 from Shanghai, with participation of 251 scientists, workers and crew members. The expedition will end April 10.

BEIJING, Feb. 18 (Xinhua) -- A report by the Ministry of Industry and Information Technology said the overall situation of China's iron and steel industry will be better than last year, thanks to the steady momentum of economic recovery.The report said four factors will have positive impact on the iron and steel industry: increased government investment, a clear recovery of global economy, ample money supply in the market and a series of upcoming government policies aimed at promoting healthy development of the iron and steel industry.However, the ministry held that the foundation of the current economic recovery still needs to be consolidated and external demand still falls short, creating fairly big difficulties for the operation of the iron and steel industry.The report said in 2010 iron and steel companies must be prepared to face the challenges of over supply, sluggish international market and rising production cost.In 2009, China's 68 large and medium sized iron and steel companies made 55.39 billion yuan (8.12 billion U.S. dollars) in profit, down 31.43 percent year on year.
BEIJING, Feb. 24 (Xinhua) -- Senior Chinese leader Zhou Yongkang on Wednesday urged the country's prosecutors to learn from role models so to better serve the people and safeguard social justice.Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting respected role models from procuratorates at all levels.Prosecutors had made positive contributions to safeguarding social harmony and stability, protecting people's legitimate interests and advancing the country's economic and social development, Zhou said.Zhou Yongkang (2nd R), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with respected role models from procuratorates at all levels around China in Beijing, capital of China, Feb. 24, 2010He urged prosecutors at all levels to embrace innovation in their work, strengthen ties with the people and improve their capacity and ability to serve the people.He also called on prosecutors to faithfully fulfil their duties of supervision and enforce laws in a strict and fair manner.
BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.
来源:资阳报