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BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.

XIANGFEN, Shanxi, Sept. 15 (Xinhua) -- Rescuers continued to search for the missing in last Monday's fatal mud-rock flow in north China's Shanxi Province that killed 254 people and injured 34 to date.     No new bodies were found from 6 p.m. on Sunday to 6 p.m. on Monday. Rescuers were continuing to search in areas designated by the family members of the missing, according to Lian Zhendong, the rescue operation's chief.     "We will not stop the rescue work in a short time," he said. "We will do our best to make the family members of the missing see their relatives." Rescue workers work on the ruins at the key spot of the mud-rock flow in Xiangfen County, Linfen City, north China's Shanxi Province, Sept. 15, 2008A rain-triggered mud-rock flow happened around 7:50 a.m. on Sept. 8 when the bank of a pond holding waste ore dregs burst at the Tashan Mine in Xiangfen County, Linfen City, destroying buildings, trade markets and residences lying about 500 meters downstream.     The death toll has risen to 254, 151 of whom have been identified. The 34 injured, four seriously, were being treated in hospital.     An initial investigation showed that factors leading to the accident included the production and building of the pond was in violation of regulations. The mine also lacked a security checkup, failed to implement the orders for straightening up operations, in addition to the loose supervision of concerned safety departments.     The State Council, China's Cabinet, has ordered a nationwide safety check at similar production sites to root out hidden risks following the deadly accident.

BEIJING, Oct. 5 (Xinhua) -- China's National Bureau of Statistics (NBS) under new chief Ma Jiantang is likely to reform its statistical system to ensure the authenticity and timeliness of data and help the government to better cope with the uncertainties of outside economic influences, the minutes of an NBS meeting show.     After his inauguration as the NBS director, Ma has said he felt pressure, but was confident of taking over "the baton of statistical reform and development."     "The changing world economy, especially the financial turmoil triggered by the U.S. sub-prime mortgage crisis, had increased the uncertainties of China's macro-economic development and stability and set new tasks for statisticians," said Ma.     "I would like to work with all NBS staff together to advance reforms and innovations in statistical systems, indices and methods to make sure statistical work could better serve the pursuit of scientific development to shift the target of economic expansion from quantity to quality, and building a moderately prosperous society."     According to the minute, Ma gave no details of his reform plans. But his predecessor, Xie Fuzhan, who was transferred to head the Research Office of the State Council, admitted in his leaving speech that the foundation for China's statistical work remained feeble, with a lot to be done in optimizing statistical methods and management.     "Both the status of statistical departments and the capability of statisticians needs to improve to meet their obligations and fulfill their tasks," Xie said. He took up the post two years ago after his predecessor Qiu Xiaohua fell over fund scandal.     Authorized by the State Council to examine and calculate the economic output nationwide and to collect and compile economic figures for almost all industries and sectors, the NBS offers basic statistical information and policy advice for higher authorities and government departments.     Ma, a doctor of economics who graduated from the Chinese Academy of Social Sciences, viewed authenticity and timeliness as "the lifeblood of statistics work" and "the way for statisticians to conduct themselves".     He said the essence and core of statistics was to reflect facts, analyze real situations and seek truth, according to the minute.     Ma also urged NBS staff to resist all fabrications of data, secure the quality of figures and work with professionalism.     Under the current management system, local statistical departments serve two bosses, with the NBS giving them statistical assignments but local governments in charge of their personnel and finance. The NBS was only authorized to assist governors, municipal mayors and autonomous region chiefs in managing the heads of NBS branches.     Prestige-minded local officials looking for advancement have often tested the integrity of statisticians within their jurisdiction.     To remedy the situation, China's legislature revised the implementation rules of Statistics Law in 2006, which authorized NBS investigation teams to undertake independent statistical surveys and reports in all provinces, municipalities and autonomous regions.     Under the Statistics Law, leading members of local authorities who alter statistical data without authorization, fabricate statistical data, compel or prompt statisticians to tamper with figures will be subject to administrative sanctions. Officials who retaliate against statisticians who refuse to fabricate data face criminal penalties.     After more than two decades of sizzling growth at the cost of depleted resources, increased energy consumption and environmental damage, the Chinese economy is undergoing a tough rebalancing that puts more emphasis on quality than quantity.     As global economic slowdown could dampen exports -- a major growth engine -- more than expected, the government has become increasingly careful with monetary tools like interest rates, deposit reserve ratios as well as industrial and fiscal policies so as not to plunge the expanding economy into recession.     Senior decision-makers have been demanding precise and more timely statistics for earlier warnings in the event of slowdown or other ailments.     Ma was appointed vice governor of Qinghai in December 2004 and used to work with the State Economic and Trade Commission and the Assets Supervision and Administration Commission of the State Council.

China's hotel and catering industry saw its retail sales rose 24.3 percent in the first seven months over the same period last year, the Ministry of Commerce (MOC) said on Friday.The growth rate was 6.5 percentage points higher than the same period last year, said the MOC on its website.Retail sales of the country's hotel and catering industry amounted to 837.49 billion yuan (1.99 billion) between January and July, accounting for 14 percent of the nation's total domestic retail sales during the same period.China's retail sales of consumer goods in the first seven months of this year was 5.9672 trillion yuan, up 21.7 percent, compared with 15.5 percent growth rate recorded over the same period of last year.Foreign hotel and catering enterprises established 399 new branches in China during the January and July period, down 18.2 percent over the same period last year, while contract value rose 4.3 percent to .71 billion.The country's hotel and catering industry reaped 116.8 billion yuan in July alone, representing an increase of 26.5 percent over the same month last year, according to the MOC.

BEIJING, Oct. 8 (Xinhua) -- An aftershock measuring 5.4 on the Richter scale jolted Damxung County in southwest China's Tibet Autonomous Region at 10:07 p.m. on Wednesday, the China Earthquake Administration said.     The epicenter was 29.8 degrees north and 90.4 degrees east, and was 9 km underground, according to the State Seismological Network.     There was no report of casualties at the epicenter but one house collapsed, according to the quake-relief headquarters.     Damxung, 82 km from Tibet's capital Lhasa, was hit by a 6.6-magnitude earthquake and a 5.2-magnitude aftershock on Monday. At least 10 people were killed. An armed police soldier help a villager dress her wound in Damxung County, southwest China's Tibet Autonomous Region, on Oct. 7, 2008. More than 350 armed police officials and soldiers were dispatched to attend the quake-relief work immediately after a 6.6-magnitude earthquake jolted Damxung County near Lhasa at 4:30 p.m. (Beijing Time) on Monday.    Cars were shaken for a few seconds in Yangyi Village, the worst-hit area in the first quake, but no major damage was reported in the county, according to Zhu Quan, head of the Tibet earthquake bureau.     However, Lhasa residents felt the aftershock and poured into the streets carrying food, drinking water and blankets. Some said they would spend the night outside out of safety concerns.     Dainzhen, 33, sat in his car along with his wife in the square of Ramogia Monastery. "More than 50 neighbors decided to sleep here tonight because our 20-year-old house seems not safe," he said.     However, experts said the aftershock was a natural process during the quake force recession.     Zhu said there was no need to panic.