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Many parts of China experienced extreme weather conditions including heatwaves, storms and floods last month, the China Metrological Administration (CMA) said on Friday.Vehicles drive along a flooded street in Guangzhou, South China's Guangdong Province August 14, 2007. Downpours caused flooding in the city and paralyzed local transport. [Xinhua]Data indicated that last month's average temperature reached 21.6 C, 1.1 degrees warmer than usual. This is also the second-highest average temperature since 1951 and only 0.3 degrees lower than last August's average of 21.9 C, said Zhu Qiwen, deputy chief of the disaster forecasting and relief department of the CMA.Northwest China's Qinghai Province was hit by its worst heatwave since 1951, with high temperatures also roasting Beijing, Gansu, Tibet and Inner Mongolia.CMA head Zheng Guoguang said the country has been more frequently hit by extreme weather conditions this year.The conditions match predictions in a weather forecast report jointly published by the CMA, the Ministry of Science and Technology and the Chinese Academy of Sciences.It says that China's average temperature rose by 0.5 to 0.8 degrees in the 20th century. And the extreme weather's frequency and intensity are all under dramatic change.The CMA's list of extreme weather events includes heavy rains and floods in East China's Shandong Province and Northwest China's Xinjiang Uygur Autonomous Region where rainfall increased 50 per cent. The severe flooding also triggered landslides, which resulted in 89 deaths in Southwest China's Yunnan Province.Further north and west, Inner Mongolia Autonomous Region, Shaanxi Province and Chongqing Municipality suffered from ongoing droughts.Other events include lightning strikes that killed 109 and wounded another 43 last month. More than 588,000 people were forced to evacuate their homes in Central China's Hunan Province in the wake of Typhoon Sepat, which has left two people dead and seven missing in the province.
An increasing amount of investment capital is flowing from the Chinese stock market to the relatively stable real estate markets in major cities like Shanghai, Beijing and Shenzhen, according to several banks and property consultancies. Low- and medium-level residential properties have been attracting the bulk of the funds diverted from stocks, while luxury residential houses and office buildings are taking in a much smaller share, according to a recent survey by Shenzhen-based Worldunion Properties Consultancy (China) Limited. The survey, which covers 16 real estate projects in Shenzhen, Beijing and Tianjin, estimates that funds diverted from stocks accounted for around 50 percent of the total transactions in low- to medium-priced residential properties from October 2006 to June 2007, 10 to 20 percent in luxury apartments and about the same percentage in office premises. "The volatility of the stock market after the stamp tax hike in late May has also increased the potential risks and reduced the returns of stock investment, prompting many risk-averse investors to shift their focus to the property market," the Worldunion report said. "It can be seen from the weak and uncertain performance of the stock market and the strong performance of property prices in various major cities," the report said. Housing prices in 70 large-and medium-sized cities in China continued to rise in June, up 7.1 percent over the same period last year, while the Shanghai Composite Index dropped 7 percent that month. "From my experience in other markets, the risks of investment in real estate are relatively lower than that in the stock market," said Mao Zhi, a professor at China Real Estate Index Research Academy. Some are even selling their stocks to pay for house loans before the recent lending rate hike of 27 basis points. These funds have indirectly flowed into the real estate market, analysts said. "The interest rate hike is not expected to have a negative impact on the property market. The gap between long-term deposit and lending rates narrowed only 9 basis points after the rate adjustment, showing that the measure is not targeting the real estate market," said Li Maoyu, an analyst at Changjiang Securities. At the macro level, the fund flow trend from stocks to real estate is reflected in the sharp increase in bank loans, economists and market analysts said. According to statistics from the People's Bank of China, the increase of loans outstanding in June alone was 451.5 billion yuan, while it's only 247.3 billion in May. Of the additional increase of 56.6 billion yuan loans from the same time a year ago, 79.9 percent were household loans. "Since the majority of household loans were mortgage loans, it's clear that more funds have been relocated to the property market lately," said Shen Minggao, an economist at Citigroup. "Investments in luxury residential properties also shot up as many investors cashed out of the Shanghai stock market and turned to luxury properties as long-term investments," said Lina Wong, managing director of Colliers, an international real estate service provider. In line with the increased transaction volume, selling price for luxury properties grew 2.7 percent in the first half, compared with 3.5 percent in the past 12 months. The rents also grew 2.9 percent, while it rose 3.8 percent from last June. Worldunion said it's like the two markets are on a seesaw, when "one goes up, the other comes down." The National Bureau of Statistics has announced that China's real estate investment rose 28.5 percent from a year earlier to 988.7 billion yuan in the first half of 2007. "Anticipation of further renminbi appreciation should secure a continuous inflow of foreign capital and help fuel the property market," said Wong of Colliers.

China has been in the media spotlight for food safety recently, but it has gone all out to ensure that its food products are safe and to restore consumer confidence home and abroad.Its efforts seem to have accelerated with the publication of the first White Paper on food safety on August 17 and the naming of Vice-Premier Wu Yi as head of a high-profile panel on product quality and safety issues. That was followed by a series of efforts by government organs to tighten food safety measures.On August 31, the country's quality watchdog officially introduced the landmark recall system for unsafe food products and toys, making producers responsible for preventing and eliminating unsafe items.Food safety became a big concern in China after a series of food contamination cases were reported from across the country. Last November, the country's food safety watchdog found seven companies supplying red-yolk eggs that contained the dangerous Sudan Red dye, which is used in the leather and fabric industries but is banned from use in food products.The same month, three people were arrested in Shanghai for adding 3-4 grams of banned steroids to each ton of pig feed to increase the proportion of lean meat. The steroids, which prevent pigs from accumulating fat, can be harmful to humans. More than 300 people fell ill after eating meat from pigs that had been fed the steroids.Also last year, carcinogenic residues were found in turbots sold in Beijing and Shanghai markets. Even international fast food giant KFC was accused of adding the carcinogenic Sudan 1 dye to its roast chicken wings.Ministry of Health figures show that in the first half of this year, China reported 134 food poisoning cases, in which 4,457 people fell ill and 96 died.Food is China's biggest industry with last year's output estimated to be 2.4 trillion yuan (5.8 billion), according to the China National Food Industry Association.Bitter stories made the rounds after people fell victim to food poisoning. In June 2006, more than 130 people contracted parasitic diseases after eating undercooked snails in a restaurant. One of them was Yang Fangfang. His family, including his parents, wife and 18-month daughter, fell ill.The Beijing Health Bureau said the infection was caused because the food was not cooked properly and because the restaurant had failed to remove eel-worms in the snails.Although Yang survived, he still complains of pain, sometimes severe, in his lower body and stomach. A gourmet before the incident, Yang now regards food as a potential threat to his life.In overseas markets, substandard exports from China since March - from pet food, drugs, toothpastes and toys to aquatic products and tires - has sparked concern over "made-in-China" products. Diethylene glycol contaminated medicine exported from China was been blamed for dozens of deaths in Panama. Deaths of some dogs and cats in North America were attributed to tainted Chinese wheat gluten.Jing Luyan, 24, who works for a Beijing-based travel agency, says she trusts the government and the media for information on food safety issues."If they say I shouldn't eat something, then I stop immediately, it's as simple as that," Jing says. Many of her colleagues and friends do the same.Pressure from home and abroad prompted the Chinese government to acknowledge that the country's food and drug safety situation was not satisfactory and that enhanced supervision was needed. At a press conference in July, China's food and drug watchdog spokeswoman Yan Jiangying said: "As a developing country, China's food and drug supervision work began late and its foundations are weak. Therefore, the food and drug safety situation is not something we can be optimistic about".The press conference was held jointly by five major ministries in charge of food safety: the Ministry of Agriculture, the Ministry of Health, the State Administration for Industry and Commerce, the General Administration of Quality Supervision, Inspection and Quarantine and the State Food and Drug Administration.It was a rare attempt by the government to seriously address the issue, and it enumerated a series of measures to be taken. But it failed to offer a convincing mechanism for coordinating work among the five ministries, leaving the murky regulation of food safety unresolved.There have been worries over China's food safety supervision because at least five ministries are in charge of food safety and coordination among them is no easy job.Vice-Minister of Health Wang Longde went on the record as saying that new laws were needed to strengthen food safety supervision and the duties of relevant government agencies had to be coordinated. The government has stepped up efforts since then to address the issue to restore confidence in Chinese food products sold at home and abroad.China's first-ever White Paper on food safety published recently sets forth a series of achievements along with planned measures to improve food quality - from setting up a national food recall system to increasing exchanges with quality officials from other countries.Wu Yi's panel, meant to address the country's problems in food safety and product quality, partly dispelled people's concerns over lax supervision of food safety owing to too many regulators. Analysts say the newly set up panel, headed by Wu Yi, will improve supervision.The government, on its part, has started a four-month nationwide campaign to improve food safety and product quality. Wu describes the campaign as a "special battle" to ensure public health and uphold the reputation of Chinese products. The campaign will target farm produce, processed food, the catering sector, drugs, pork, imported and exported goods and products closely linked to human safety and health.Luo Yunbo, dean of the food science and nutritional engineering school of China Agricultural University, says the White Paper offers authoritative information on food safety, and the latest moves reflect the government's determination to improve product quality.The paper says the percentage of food products that passed quality inspections had risen steadily in recent years, up from 77.9 last year to 85.1 percent this year. As for small food processors, believed to be a major food safety threat in China, the paper says the country will prompt small-scale producers to form larger entities to ensure better food safety.Almost 80 percent of China's food producers operate in small workshops employing fewer than 10 workers. By the end of June, the government had weeded out 5,631 unqualified small producers, forced 8,814 to stop production and asked 5,385 to improve their standard.The number of small food producers will be halved by 2010, the quality supervision administration said after the country published its first-ever five-year plan on food safety in May. Also, the government wants to weed out all uncertified producers by 2012.The government is seriously addressing overseas concerns over Chinese food products. It has shut down the factory that supplied the tainted medicine to Panama, and two firms that exported contaminated wheat and corn protein, which ended up in pet food in the United States, killing a number of dogs and cats in North America.The country's top quality watchdog has announced that all major food exports produced from September 1 have to carry labels showing they have passed inspection to help stop illegal exports and bolster consumer confidence in the quality and safety of Chinese food products.The White Paper says the acceptance rate of Chinese foodstuffs exported to the European Union (EU) was 99.8 percent in the first half of this year, followed exports to the US (99.1 percent).Japanese quarantine authorities found Chinese food exports had the highest acceptance rate, 99.42 percent, followed by the EU (99.38 percent) and then the US (98.69 percent).But food safety cannot be improved greatly overnight, and people seem to differ on what they can do as individuals to bring about lasting change.Take Jing Luyan, for instance, who is fond of tasting different types of food, especially traditional Beijing snacks. But traditional snacks are usually cooked in shabby restaurants in small alleys."I believe that the most delicious food can hardly ever be found in swanky establishments with irreproachable hygienic conditions," says Jing.She has never fallen ill after eating at street corner stalls, she says.
BEIJING -- China is likely to become the world's second largest consumer market by 2015, said a report released by the Boston Consulting Group (BCG).Chinese shoppers select the luxury Louis Vuitton luggage at the first franchise store in Nanjing, East China's Jiangsu Province, July 25, 2007. [newsphoto]The report is based on a survey of 4,258 consumers in 13 Chinese cities from February to March 2007. According to the report, Chinese consumers are experiencing unprecedented wealth growth which is 3 to 5 times faster than developed countries in the past 50 years. Most Chinese consumers plan to spend more in near future to fulfill their family dreams."The past decade of rapid economic growth has brought prosperity but also uncertainty, resulting in a highly complex consumer market with diverse consumer attitudes," said Hubert Hsu, senior partner and managing director of BCG, at a press conference in Beijing."Capturing the next wave of consumer growth in China will involve developing deep consumer insights and creating marketing differentiation," said Hsu.The report said there are significant generational differences in terms of spending attitude among Chinese consumers. The strong interest in trading up, which means spending more money for more expensive products, was driven up by consumers' increasing desire for better goods and services and rising concern over safety and quality of cheap products.Chinese consumers put more faith in brand names compared with the US consumers and they believe good brand represents quality, safety, effectiveness and durability, said Hsu.Despite strong trading up desires, Chinese consumers continue to "treasure hunt" - make deliberate trade-offs to maximize "value" of their budgets. They use similar strategies for treasure hunting as their counterparts in other countries except several unusual tactics such as group purchase for volume discount, said the report.The report suggested global suppliers in China should establish strong, branded relationships with China's treasure-hunting consumers, provide the kinds of products that appeal to practical concerns and emotional needs, and be willing to customize their offerings to meet the needs of a geographically diverse population.While the retailers must make sure the categories they carry are the ones that treasure-hunting consumers will seek and focus on a product's technical and emotional benefits, said the report.
The late Chinese leader Deng Xiaoping pledged to keep Hong Kong's three capitalistic characteristics - horse racing, dancing and stock exchanges - intact for at least 50 years after its return. Horse racing remains popular in Hong Kong, as shown in this file photo.Edmond TangThis pledge is being upheld as the Special Administrative Region marks the 10th anniversary of its return to the motherland. Today, more Chinese mainland residents are playing the Hong Kong stock markets, attending its horse races and visiting Lan Kwai Fong, Hong Kong's top entertainment center. For over a century, horseracing has thrilled Hong Kong people. Race days are held on most Wednesdays and weekends from September to June. During the season, many can be seen burying their heads in newspapers at teahouses studying the form of horses. "After Hong Kong's return, horse racing has not only been retained, but has grown with the support of the central government and Hong Kong people," said Kim K.W. Mak, executive director of the corporate development department of the Hong Kong Jockey Club. Mak said the jockey club is now striving to provide its best facilities for the coming 2008 Beijing Olympic Games. It will host the equestrian events. The club manages two racecourses - Happy Valley and Sha Tin - attracting more than 2 million racegoers each racing season. The club's betting turnover, exceeds HK.3 billion every fiscal year. It contributes 1.3 percent to GDP, and 10 percent of the government's tax revenue. It is also one of the 10 biggest employers in Hong Kong, employing more than 5,000 full-time workers and 20,000 part-time staff on race days. Hong Kong youngsters wave flags, hailing Premier Wen Jiabao's arrival to sign the Closer Economic Partnership Arrangement in this file photo.Huo YanAs the largest charity organization in Hong Kong, the club was a major donor to the anti-SARS campaign in the spring of 2003. Today, the people of Hong Kong enjoy stability in every aspect of their lives. "We don't see any difference in our way of life after 1997," said Wong Yim-fat, a fishmonger in Hong Kong. "Though there have been hard times, we have come through it, believing things can only get better." Wong now plays the stock markets and has had some luck with the Hang Seng Index rising from 15,196 points in July 1997 to about 21,685 today. "Actually, as masters of our own society, we feel there is more freedom and opportunities following Hong Kong's return," Wong said. Wong said he is happy with his decision to remain in Hong Kong after its return and not seek to emigrate as some of his friends and relatives did. "Many of my friends who have emigrated have come back, after finding out that things have not changed," Wong said. Before 1997, many Hong Kong people were uncertain about its future and left for other countries. Official figures from Hong Kong Customs show that more than 300,000 people moved to America, Australia and Canada between 1990 and 1997. Ten years later, many returned because of Hong Kong's stability and prosperity. Renee Chu, an assistant computer officer at the Chinese University of Hong Kong, was one of those who left before 1997. Following her parent's wishes, Renee left for Australia in 1990 when she was still a middle school student. "At that time, they were concerned about Hong Kong's future and wanted us to receive a better education abroad," she told Xinhua News Agency in a recent interview. After graduating from university, Renee returned to Hong Kong in 2000 as it offered better job opportunities. Hong Kong was hit by an economic downturn and an outbreak of SARS after 1997, but that did not stop the Chu family from returning. "There are always good and bad times for a place," Renee said. "My parents return to Australia from time to time," Renee said, "but their stays have become shorter. They now spend more time in Hong Kong and the mainland." Most Hong Kong people were able to gain residency abroad because of their technological skills and investments. While Hong Kong has retained its attraction for locals, it has also lured more people to its shores. Official statistics show that the number of overseas people in Hong Kong - Indians, Filipinos and British - account for 71,000 out of a population of 6.9 million. The culture of tolerance can be seen in the busy streets. There are restaurants and shops from all nations. "Hong Kong is really a very tolerant and free-spirited city. The cultural tolerance and perfect mixture is reflected in the diversity of our international visitors," said B.C. Lo, vice-president of public affairs, Hong Kong Disneyland. Hong Kong, however, has undergone some subtle changes too. This is evident in the choice of passport. Ten years after Hong Kong's return to the motherland, many Hong Kong people have abandoned their British National (Overseas) or BNO passports in favor of the Hong Kong Special Administrative Region (HKSAR) passport. According to Hong Kong Immigration Department sources, in the past 10 years, as many as 4 million, or 60 percent of Hong Kong's population of permanent residents, have applied for HKSAR passports, and the number is growing. The HKSAR government has managed to obtain visa-free access to as many as 134 countries or regions. BNO passports enjoyed visa-free access to only 114 countries. The passports are still valid. The safety ensured by Chinese embassies and consulates as well as a sense of nationalism have also been key factors in the popularity of HKSAR passports. Wong Yim-fat is of those who think HKSAR passports are not only more convenient, but also offer consular or embassy protection from the Chinese government in times of distress. "While holding a BNO passport, you felt like a second-class citizen," Wong said. "But a HKSAR passport gives you all the privilege that a Chinese citizen enjoys." According to Lu Xinhua, commissioner of the Ministry of Foreign Affairs in the HKSAR, not only Hongkongers have enjoyed an uplift in their international status, but also the HKSAR government. During the past 10 years, the HKSAR government has joined more than 50 international, intra-government organizations and 200 international treaties with the proper identity of Hong Kong, China. "Under the Basic Law, we have tried our best to help exchanges between the HKSAR government and the international community, in order to forge its long-term prosperity and stability," Lu said.
来源:资阳报