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The weakening global economic environment will slow down growth in Asia and the Pacific, too, this year, but China, India and Japan are expected to keep up the momentum in the region, says the Economic and Social Survey of Asia-Pacific 2007. The three economies contribute more than 60 percent of the region's GDP and close to 45 percent of its imports, creating considerable opportunities for the whole region, says the survey, to be released today by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP). Developing economies in the region grew at 7.9 percent in 2006, up from 7.6 percent in 2005. But their economic growth is projected to slow down to 7.4 percent this year. The decline is mainly because of the unfavorable external environment, including the slowing down of the US economy and falling demand for electronics across the world, says UNESCAP Executive Secretary Kim Hak-Su in a recorded video on the commission's website. The survey shows investment continues to grow in China, while investment and consumption posted healthy gains in the two special administrative regions of Hong Kong and Macao. The survey, however, warns against several downside risks in the region, such as a possible oil price hike, abrupt cooling of the US housing market, vulnerability of the currency, global imbalances and reversal of the Japanese economy after its recovery. To ensure better long-term growth in the region, the survey suggests Asian economies monitor the vulnerability of the currency and boost domestic demand through private investment.

The Board of Airport Authority Hong Kong awarded a franchise to building a new cargo terminal at Hong Kong International Airport (HKIA) to a subsidiary of Cathay Pacific Airways Limited here Tuesday.     According to the contract, Cathay Pacific Services Limited, a subsidiary of the parent airways, will design, construct and operate the 10-hectare new cargo terminal during the non-exclusive,20-year franchise.     The new terminal and recently completed enhancements to the cargo apron, taxiways and aircraft stands will equip HKIA to meet future demand for cargo services and to maintain its position as the region's premier air cargo hub.     "The new cargo terminal will reinforce the competitiveness of HKIA as a regional and international air cargo hub." Airport Authority Chief Executive Officer Stanley Hui said, adding "it will provide additional choices for airlines, shippers and freight forwarders.     "I believe it will bring substantial economic benefits, in the form of new jobs and business opportunities, to Hong Kong," he said.     Scheduled to open in the second half of 2011, the new terminal will have an annual capacity of about 2.6 million tons and increase the airport's total general and express cargo handling capacity to 7.4 million tons per annum.     According to Cathay Pacific Services, construction of the new terminal will create over 400 jobs. When it starts operation, the facility will employ more than 1,700 people.     The decision to build a new cargo terminal was made after the Airport Authority held extensive consultations with Hong Kong's air cargo and logistics industry.     In December 2006, the Airport Authority called for pre- qualification proposals, which was followed by invitation for submission of business plans. The Airport Authority assessed the business plans and decided to award the franchise to Cathay Pacific Services as a result of an open and competitive tender process.     The Airport Authority also invited the Independent Commission Against Corruption as an independent advisor to oversee the process.     Driven by the rapid expansion of the Chinese mainland's economy and robust global trade, cargo throughput at HKIA rose 4.5 percent in 2007, to 3.74 million tons. The air cargo industry handled over1.9 trillion HK dollars (243.6 billion US dollars) worth of goods in 2007, accounting 35 percent of Hong Kong's total external trade.     HKIA has remained the world's busiest international cargo airport for the 11th consecutive year.

All provincial and municipal authorities must act on findings of investigations of serious workplace accidents occurred since 2005, the State Council's work safety committee office ordered Monday.A check on the local investigations and whether the parties responsible were accordingly dealt with "must be instantly organized" and reported to the office by work safety departments before January 15, said the document, released on the State Administration of Work Safety (SAWS) website at www.chinasafety.gov.cn.Such reports should include the latest updates on every investigation, whether each case was closed within a reasonable time, and reports on the financial, Party, administrative as well as legal punishments of all the parties involved, the document stated.These will act as a direct response to the tardy progress seen in the investigations of accidents in some areas, the document stated.Nepotism at the local government level has hindered bringing "people responsible for workplace accidents to justice", SAWS director Li Yizhong had earlier said.For example, five people found responsible for a coal mine blast that killed 171 in Heilongjiang Province in November 2005 were jailed only last Saturday. The men were reportedly detained by local police in December 2005 but were released on bail nine months later.The five were arrested again last month, after Li visited the site of the accident and learnt of the case's progress.A notorious and unauthorized coal mine in Chenzhou, Hunan Province, has been making the headlines for its harsh treatment of workers and attempts to cover up accidents. But the mine's chief, Huang Shengfu, reportedly managed to stay in the clear and bought himself out of any legal liability, reported the Oriental Outlook magazine.Eight respective probes into the mine by the central and provincial disciplinary committees as of last month all returned no clear results, the document stated.SAWS said on Sunday that there were about 457,000 workplace accidents reported from January to November this year, representing a decrease of 22.4 percent year-on-year. The number of accident deaths also dropped to 88,923, a year-on-year decrease of 14 percent.During the past 11 months, a total of 83 serious accidents, each of which 10 or more people were killed, claimed a total of 1,380 lives, SAWS reported.

At least two Chinese universities could achieve "world-class" status within the next 20 years, the president of one of the United States' oldest higher education institutions said yesterday in Beijing. Yale University's Richard Levin made the comment at the start of a 10-day visit by about 100 Yale faculty, students and administrators, the biggest delegation from the university ever to visit China. President Hu Jintao, who extended the invitation to the Ivy League university during his 2006 visit to the US, met the delegation last night at the Great Hall of the People. Hu said the visit of Levin's delegation will help promote mutual understanding and friendship between the two peoples, as well as the stable and healthy development of Sino-US relations. The president expressed his hope that Yale University students build strong relationships with the young people of China. In an interview with Chinese media, Levin said the country had made great progress in strengthening its top universities, by investing more in first-class facilities including research labs. "The key ingredients to being a world-class university are top students and top faculties," Levin said. "I don't think there is any doubt that China's top universities today have students that are as good as any in the world. "What remains to be built are faculties that are at the very frontier of research in their fields and worldwide leaders in their research endeavors." The delegation will spend its days meeting government leaders and visiting universities and other historical and cultural sites in Beijing, Shanghai and Xi'an. The Chinese government and Yale are sharing the cost of the trip. Participating students and faculty, the majority of whom had never before been to China, were handpicked to represent the university's different schools. Delegation groups will today meet with government leaders, including Yang Jiechi, the minister of foreign affairs and Jiang Zhenghua, chairman of the Chinese Peasants' and Workers' Democratic Party. The visiting students may even bridge some cultural divides. "I think that young people can play a very important role in securing a peaceful future for the US and China," Levin said. "Today, especially among the older generation, there is a great deal of ignorance about China in the United States, and some ignorance about the United States in China as well." Before leaving for China, some of the delegation met with US President George W. Bush, who spoke about the importance of "people-to-people diplomacy". "I think the trip will serve a cultural purpose in that our students will get a deeper understanding of Chinese culture to the extent that this throws into public view the importance of student-to-student exchanges," Levin said. "And that certainly serves a political purpose."

Japanese Prime Minister Shinzo Abe has said he will face up to history to help improve Sino-Japanese relations. He made the remarks in an interview with China Central Television (CCTV) which was broadcast yesterday ahead of Premier Wen Jiabao's visit to Japan on Wednesday. Starting with a Chinese greeting Ni Men Hao (How are you), Abe said the China-Japan relationship is one of the most important of bilateral ties for his country; and hoped they could develop into a strategic relationship for mutual benefit. He said he is looking forward to Wen's visit in spring, a season "when the ice is melting and flowers are starting to blossom", and hopes to visit China this year. Abe paid an "ice-breaking" trip to China last October soon after taking office. He met President Hu Jintao and reached agreements that thawed relations chilled by former Japanese prime minister Junichiro Koizumi's repeated visits to the Yasukuni Shrine that honors top Japanese World War II war criminals. Abe said he firmly believes that the "ice" in relations will finally melt when more Chinese people get to know Japan's post-war road of development. He said he hopes Wen's trip, including the summit meeting, would produce substantive results in various fields such as energy, environmental protection and regional security. As Wen's visit also coincides with the 35th anniversary of the normalization of China-Japan relations and the Year of Cultural and Sports Exchanges, Abe said he would like to use the opportunity to invite more Chinese people, especially the younger generation, to visit his country and enhance mutual understanding. Abe said China's development provides a big opportunity to not only Japan, but also Asia and the world at large, citing bilateral trade had hit a record eight years in succession. The volume of trade between the two countries has increased nearly 200 times from .1 billion in 1972, when Sino-Japanese ties were normalized, to 7.4 billion in 2006. "Such an achievement was unimaginable even 10 years ago," Abe said. In another development, a survey published yesterday said that most undergraduates in China and Japan regard the other country as an important nation and 37 percent of them are positive about future China-Japan relations. The survey, jointly conducted by the China's Outlook Weekly and mainstream Japanese newspaper The Daily Yomiuri, polled 1,020 Japanese and 987 Chinese college students in March. Though a majority of respondents are not satisfied with the current state of relations, 37 percent believe relations will "improve" or "greatly improve" in the future. More than 40 percent think the relations will "remain unchanged". More than two-thirds of the Japanese undergraduates chose China as Japan's most important partner for economic growth; whereas Chinese students ranked Japan in second place, following the United States. A majority of both Chinese and Japanese students believe China will become the most influential country in the world. More than half of the Japanese students deemed China would overtake Japan in the next 10 years in terms of GDP.