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XI'AN -- Lawmakers in Northwest China's Shaanxi Province enacted a law on Saturday that is intended to improve protection of the Qinling Mountains, a habitat of endangered giant pandas.The law, which will take effect on March 1, is aimed at preserving biodiversity, preventing soil erosion (which averages 84 million tons a year) and promoting harmony between man and nature in the mountain range, which is a divide between China's north and south.It requires all future development projects in the Qinling Mountains to be assessed for their possible impact on the ecology and bans real estate projects and polluting industries in nature reserves, where the ecology is more vulnerable.The law also bans mining and resource exploration in nature reserves and forest parks.Local governments must ensure immediate demolition of existing projects that are potentially harmful to the ecology, it says.The Qinling range, which largely spans Shaanxi Province, covers more than 50,000 square kilometers.The range is home to approximately 300 Qinling pandas, a sub-species of giant pandas on the verge of extinction, and many other rare animals under state protection, such as golden monkeys, the red ibis and antelopes.

The China Meteorological Ad-ministration (CMA) Tuesday announced the completion of a national climate observation network to help mitigate global warming.CMA director Zheng Guo-guang said the network would collect accurate information about climate change."Climate change is threatening the environment, state security and economic development," Zheng said.Responding to a UN plan, China's first climate observation network was set up in 1997. Seven departments - meteorology, water affairs, agriculture, environmental protection, forestry, ocean and scientific research - joined the network.The network set up 16 key observation areas, Zhang Renhe, director of the Chinese Academy of Meteorological Sciences Director, said.These are: Atmosphere and land systems in the Qinghai-Tibetan plateau, glacier; water and ecological systems in the Tianshan Mountain area; Xilingol pastures in the Inner Mongolia Autonomous Region; Dunhuang desert in Gansu Province; forests in Northeast China; water circulation systems in Sichuan and Yunnan provinces; agriculture in the Yellow and Huaihe river basins; the lakes of Dongting and Poyang; the atmosphere around Mount Waliguan in Qinghai Province; ecological systems in source regions of the Yangtze, Yellow and Lancang rivers; the economic belt around Beijing; economic development zones in the Yangtze and Pearl river deltas; Sichuan Basin; the land-ocean-atmosphere system around Bohai Sea; air-sea interaction in the South China Sea; and comprehensive oceanic observations.By observation and data processing, the network should provide data about temperatures, glaciers, frozen soil, accumulated snow, aerosoles, greenhouse gases, ozone, plant and soil."This data can help China predict natural disasters, strengthen forecasts of extreme weather events and be more adaptable when it comes to industrial projects," Zheng said.A National Climate Change Program was released in June, which pledged to cut greenhouse gas emissions, but with no specific goals.

BEIJING - Chinese share prices rebounded by 1.88 percent on Tuesday with the Shanghai Composite Index, which covers both A and B shares, closing at 5,285.45 points at the end of morning session.The Shenzhen Component Index on the smaller bourse ended at 17,213.70  points, up 0.87 percent.The rise came after a fund has been approved to open for additional subscriptions late this week, which is believed to be a new signal from the government to back up the stock market.On November 4, China's Securities Regulatory Commission (CSRC) issued a notice ordering fund firms not to expand the promised scale of their funds within six months.Heavy weights drove up the share prices. Sinopec went up by 6.58 percent while the new market heavy weight PetroChina by 2.88 percent. China Shenhua rose by 2.36 percent.Steel shares also jumped, with Baosteel, the nation's biggest steel producer, rising 4.10 percent to 15.75 yuan, and with Anyang steel up by 9.39 percent to 10.25 yuan.On Monday, the benchmark Shanghai Composite Index dropped 2.4 percent, or 127.81 points, to close at 5,187.73 points, after falling to as low as 5,032.58 points in intra-day trading.Last week, the Shanghai Composite Index fell 8 percent to 5,315.54, the biggest weekly loss during the past nine years.

An investor smiles before an electronic board showing stock information at a securities firm in Xiamen, East China's Fujian Province March 20, 2007. [newsphoto]The net income of the 287 funds launched by 53 fund management firms totaled 124.8 billion yuan, while paper profits reached about 146 billion yuan, according to WIND, a provider of Chinese financial data. The profits were more than 38 times greater than the seven billion yuan earned in 2005 by all 206 funds under 46 fund management firms. The majority of profits came from the 216 stock-leaning funds, which have at least 60 percent of their investments in stocks. They reported total operating profits of 261.4 billion yuan, accounting for 96.53 percent of all fund profits. The country experienced a fund investment boom last year as investors shifted low-interest bank deposits into the bourses, which surged 130 percent last year after a four-year slump. Fifteen million people have invested in funds. The proportion of individual investors in closed-end funds rose to 74.21 percent by the end of 2006, an increase of 18.05 percentage points from the end of the first half, according to WIND. China raised 390 billion yuan in 90 new funds and registered 7.78 million new accounts in 2006. More than 300 mutual funds have sprung up in China since 1992. The funds are valued at around one trillion yuan, accounting for 19 percent of the present stock markets.

The first national-level association of Taiwan-funded enterprises held its inaugural ceremony in Beijing yesterday - a move which experts say will help boost cross-Straits economic integration and peace. "Taiwan business people are all over the mainland now," said Chang Han-wen, the newly-elected chairman of the Association of Taiwanese-invested Enterprises on the Mainland. According to conservative estimates, there are at least 1 million Taiwan business people on the mainland. The national-level association, comprising heads of Taiwan enterprise associations and representatives of Taiwan enterprises on the mainland, aims to serve the island's enterprises, protect their legal rights, boost relations with the ministries in Beijing and strengthen communication with mainland firms. Chen Yunlin, head of the Taiwan Affairs Office of the State Council, said the island has chalked up a huge trade surplus with the mainland and its trade with the mainland has become an indispensable driving force of Taiwan's economy. "The mainland market provides huge potential for the expansion and industrial upgrading of Taiwan enterprises," he said. Xu Shiquan, vice-chairman of the National Society of Taiwan Studies, said that the establishment of the association coincides with the mushrooming of Taiwan-funded enterprises on the mainland. "Besides their number and scale, more and more Taiwan enterprises are keen to upgrade their industrial structure into the hi-tech sector," he said. "Though they usually forge local associations, faster expansion and a larger scale require a higher level of coordination," he said. Feng Bangyan, director of the Institute of Taiwan Economy at Jinan University in Guangzhou, said the association, which brings together many business heavyweights, would definitely pressure Taiwan authorities to grant more freedom for economic growth. "The secessionists forces on the island can't hinder the ever-increasing economic bonds linking the two sides across the Straits," he said.