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New statistics showing a continuous rise in house prices fly in the face of numerous media reports that domestic property prices have already started to decline in some cities.Policymakers should step up efforts to curb surging house prices now to avoid a later rush for homes in fear of further price hikes.Housing prices in 70 large- and medium-sized cities rose 10.5 percent year-on-year in November. The rise, 1 percentage point higher than that of October, hit a new high, undermining the government's efforts to stabilize house prices.As part of its macroeconomic controls to cool economic growth that is bordering on overheating, the government has introduced a host of tightening measures to rein in soaring house prices.For instance, the banking authorities recently made a strict definition of "second home" according to the property owned by the families of mortgage applicants rather than just the applicant.The rule will deal a heavy blow to speculative homebuyers as they will have to make a higher down payment and cannot enjoy preferential interest rates. In some cities, it was such speculative house purchases that considerably fuelled runaway property price hikes.Besides, the government also decided to adopt a tight monetary policy to check credit growth. In the absence of easy access to bank loans, it is believed that some developers may cut prices to promote sales due to liquidity concerns instead of hoarding houses for fatter profits.Under such circumstances, media reports from across show the country that house sales are shrinking and prices are plunging in cities that once boasted jaw-dropping amounts.It is surely not difficult for these reports to find an audience. Rocketing house prices in recent years have made home ownership a heavier than ever burden for most potential buyers.However, the latest house price data has proved it is only too premature to conclude that the property market has reached a turning point. The November figure indicates that the momentum of property price hikes in major cities remains strong.Only when the government substantially increases the supply of affordable homes for low-income groups and provides more land lots for development can the imbalance of demand and supply in the property market be addressed.

A regional pilot scheme designed to provide basic medical insurance for all urban citizens will go nationwide this year, a senior labor official said Tuesday.A further 229 cities will be added to the scheme this year, Wang Dongjin, former vice-minister of labor and social security and head of a team of experts involved with the pilot, said at a national teleconference.By the end of the year, the scheme will cover 317 cities, Wang said.Dubbed by the public as a lifesaving project, the scheme has been well received by residents in the 88 pilot cities and has brought financial and medical relief to all beneficiaries, he said.Launched in September, the program, as of December, covered 40.68 million people with 620,000 of them already benefiting from it, Wang said.With an average annual premium of 236 yuan () for adults and 97 yuan for children, the scheme will be extended to at least 240 million non-working urban residents, such as children, students, the elderly, the disabled and the unemployed.These groups have been given access to the insurance plan through agents at schools and neighborhood communities, Wang said.For the disabled, home visits will be offered to help them sign up, he said.The premiums are paid by households, instead of individuals, he said. And the government will give subsidies annually to each participant, with more going to families of low-income earners and the disabled.Wang cited a recent survey showing 68 percent of those insured giving it the thumbs up.The poll also found that, between October and December, the number of patients who refused medical treatment for fear of high costs decreased by 10 percent.While subsidized by both central and local governments, the insurance scheme presents both personal and governmental liabilities and cannot be considered a welfare program in its entirety, Vice-Premier Wu Yi said at the conference.Personal contributions to enroll in the scheme cannot be lowered, she said.With the new scheme, China now has a three-layer medicare system, including the health insurance plan for urban employees launched in 1998 and the New Rural Cooperative Medical Scheme launched in 2003.Among those already covered by the medical scheme are more than 10.8 million urban residents in Jiangsu province, almost 4.7 million people in Anhui province, and in excess of 2.2 million urban residents in Gansu province.

Migrant workers who were previously farmers will get the same labor rights as their counterparts from towns and cities starting next year, under a new regulation by the Ministry of Labor and Social Security (MLSS)."No discriminatory restrictions should be set against the rural laborers entering cities for employment," the Employment Services and Employment Management Regulation issued on Wednesday stated.Under the regulation, all laborers cannot be discriminated because of ethnicity, race, gender, and religious belief when seeking employment.Farmers-turned-laborers or those without local household registration can also register for unemployment at local public labor service agencies if they have worked in a place for half a year and more.Employment units should go to local public service agencies to register laborers or terminate their contracts."The provisions reflect tremendous progress in the country's labor policies," Mo Rong, the vice-president of the labor science research institute under the MLSS, told China Daily.Mo said policies toward laborers from rural areas have been changing with the times - in the early 1980s, they were forbidden to migrate to cities, but this restriction was later lifted with the provision that the laborers brought their own "grain tickets" in the face of a grain shortage.Since the 90s, the laborers have moved freely between rural and urban areas under the regulations of respective cities. The first great wave of migrants heading to cities occurred in 1992."They could finally 'float' between rural regions and cities without policy limitations after 2000," Mo said, referring to the country's policy improvements in the area."Laborers from rural areas will now be able to enjoy many free employment services in the cities with the new regulations," Mo added."These are possible under the auspices of a good amount of government subsidies."With the new regulation, employers are now forbidden to refuse women work except when such jobs are stated as unsuitable as stipulated by the State."When an employing unit recruits female workers, it shall not stipulate in the labor contract any content which restricts female workers from getting married or having child," said the ministry.Those suffering from infectious diseases are now also protected from discrimination.In particular, laborers cannot be denied work based on Hepatitis-B tests unless the job already prohibits carriers of the disease according to laws, administrative rules and regulations set by the administrative department of health under the State Council.Such employment units can be fined as much as 1,000 yuan (5) along with other compensation liabilities.

Policemen guard the sea wall at the Yuhuankanmen Port in Yuhuan, east China's Zhejiang Province, August 18, 2007.The Southeast China provinces are girding for the imminent Typhoon Sepat with cancellation of flights, evacuations of ships, boats and more than half a million people.[Xinhua] FUZHOU -- Typhoon Sepat packing winds of 119 km per hour landed in east China's Fujian Province at 2:00 am Sunday, said the Fujian provincial meteorological station. Before the landfall in Chongwu town, Hui'an county of Fujian, Sepat landed in Hualien, the central-eastern part of Taiwan around 5:40 am Saturday, with sustained winds of 180 kilometers per hour.Power cut for thousands of households and downpours were reported in many parts of the island.Sepat also brought downpours to Hui'an with 50-80 mm of precipitation in hours, according to the local meteorological station.Some buildings in Hui'an were damaged, roofs lifted while billboards and trees were toppled down, an official with the Hui'an office of flood control.The official said the typhoon was expected to cause more damages in the county.It rained heavily in the Fujian cities of Ningde, Fuzhou, Zhangzhou and Quanzhou early Sunday morning, according to the Fujian provincial meteorological station.Sepat was moving northwest and was expected to arrive in Jiangxi Province on Sunday afternoon, said an expert with the Fujian meteorological station.More than 900,000 people in the southern Guangdong Province and the eastern provinces of Fujian and Zhejiang have been relocated to safety before the arrival of Sepat.A car wades ahead in the flood water as typhoon Sepat lands with heavy winds and downpours in Cangnan county of the coastal city of Wenzhou, east China's Zhejiang Province on August 18, 2007. [Xinhua] The provincial meteorological station has issued the highest-level warnings for Sepat.More than 540,000 people in Fujian have been relocated to safe places by 7:00 pm Saturday, according to government officials.All entries of expressways in Fuzhou, capital of Fujian, were closed, while 109 domestic and international flights at the Fuzhou airport were cancelled on Saturday. Xiamen and Jinjiang cities also cancelled outbound flights.The Ministry of Civil Affairs have sent 3,000 tents to evacuated people in Fujian.Downpours have been forecast to hit the coastal areas of Fujian and neighboring Zhejiang Province starting from Saturday night.Passenger liners shuttling from Fujian to Taiwan have been suspended since Friday afternoon and it is undecided when services will resume.In Zhejiang Province, nearly 300,000 people had been evacuated to safety and 27,704 vessels back to harbor by 6:00 pm Saturday.Rain with precipitations of up to 87 millimeters hit Wenzhou, Pingyang, Taishun between Friday afternoon and Saturday.Three large reservoirs in Wenzhou discharged 17.5 million cubic meters of water in advance to leave room for more rainwater.In Guangdong, around 70,000 fishing farm workers on the sea, fishermen and residents in low-lying areas have been evacuated to safe areas.

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.