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Donald Tsang wins in HK Chief election(Xinhua/Reuters)Updated: 2007-03-25 14:27 Hong Kong Chief Executive Donald Tsang and his wife Selina stand on a bus as they wave to thank local residents at a polling station after winning the election in Hong Kong March 25, 2007. [Reuters]Hong Kong Chief Executive Donald Tsang waves after winning the chief executive election, at the polling station in Hong Kong March 25, 2007. [Xinhua]

BEIJING - The People's Bank of China (PBOC), the central bank, on Thursday asked its local offices to ensure cash supplies amid persistent snow to meet demand for the Spring Festival, which falls on February 7.Snow has disrupted transportation, making it hard to deliver cash to the branches.The central bank, in a circular, urged its local offices to help commercial banks in getting or storing cash.The heavy snow that has fallen since mid-January, the worst in 50 years in much of China, has paralyzed transportation, frozen the power grid and caused serious economic losses.It showed no signs of abating as forecasters warned of three more days of snow and sleet.

The government has earmarked 6 billion yuan (4 million) to pay for energy conservation projects to be launched before the end of this year, a senior official from the top economic planner said Monday."The special funds will support 10 major energy-saving projects, such as reducing the use of petroleum and developing petroleum substitutes and green lighting technology. It is hoped these developments will help the country use less energy," Xie Zhenhua, vice-minister of National Development and Reform Commission (NDRC), said at the China Energy Saving and Emission Reduction Forum 2007."Incentives have been devised to encourage enterprises to save energy. Enterprises will receive financial aid according to the energy they can save while reducing emissions."Xie said the central government has also set aside an additional 2 billion yuan to compensate local governments and enterprises for eliminating excess production capacity in the latter half of this year.The government has set a target of reducing energy consumption per unit of GDP by 20 percent between 2006 and 2010, with annual cuts of 4 percent. However, the decrease was only 1.33 percent last year compared with 2005."If we cannot reverse this situation in a timely manner, it will be difficult to meet this year's energy-saving target, which could have an unfavorable effect on the energy-saving and emissions-reduction targets in the 11th Five-Year Plan," Xie said.To prevent this from happening, the government will accelerate the elimination of obsolete production capacity in 13 sectors.He also said the NDRC and the State Environmental Protection Administration will soon organize a conference on the recycling economy in Chongqing.The government will guide the price of power from small thermal power plants, and raise excise taxes on resource-consuming products such as refined oil, automobiles and solid wood floors.

 New CPC top leaders meet the press at the Great Hall of the People in Beijing on October 22, 2007. [newsphoto]The newly-elected top leadership of the Communist Party of China (CPC), with four new faces added to the all-powerful Standing Committee of the Political Bureau of the CPC Central Committee, Monday promised to "serve the people wholeheartedly" and "promote social equity and justice". Hu Jintao, 64, was reelected Party chief for a second five-year term at the first plenum of the 17th CPC Central Committee, which was attended by the 204 members and 166 alternate members.The central committee was elected at the end of the seven-day 17th National Congress of the CPC on Sunday.Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang joined the nine-member Standing Committee. The others are Hu, Wu Bangguo, Wen Jiabao, Jia Qinglin and Li Changchun.Before taking over as Party chief of Shanghai earlier this year, Xi, 54, was the top Party official in Zhejiang Province and the governor of Fujian.Li Keqiang, 52, is the youngest among the newly-elected. He was the governor of Henan before becoming Party chief of Liaoning.Hu led the new leadership line-up in the Great Hall of the People and introduced the new members to the media Monday."Both Xi and Li are relatively younger comrades," Hu said.He Guoqiang, 63, has established a reputation for his tough stance against corruption since taking over the Organization Department of the CPC Central Committee in 2002. He becomes head of the Party's Central Commission for Discipline Inspection.Zhou serves as the minister of public security and the first commissar of the Armed Police Force.In his speech, which was televised live nationwide, Hu vowed to do the best "to be worthy of the great trust" of all Party members and live up to the expectations of people."We will be firmly committed to development, which is the Party's top priority in governing and rejuvenating the country, concentrate on construction and development, make all-round progress in developing the socialist market economy, socialist democracy, an advanced socialist culture and a harmonious socialist society, and strive for scientific development by putting people first and making it comprehensive, balanced and sustainable," Hu said.He also promised to press ahead with the reform and opening-up, serve the people wholeheartedly and adhere to scientific, democratic and law-based governance."We will pursue an independent foreign policy of peace and unswervingly follow the path of peaceful development and a win-win strategy of opening-up."We will develop friendship and cooperation with all other countries on the basis of the Five Principles of Peaceful Coexistence and push for the building of a harmonious world of lasting peace and common prosperity," he added.Apart from the nine-member Standing Committee, 16 others were named to the Political Bureau of the CPC Central Committee. Among those newly elevated are Beijing Mayor Wang Qishan, Commerce Minister Bo Xilai, Jiangsu Party Secretary Li Yuanchao, Tianjin Party Secretary Zhang Gaoli, Chongqing Party Secretary Wang Yang and Vice-Chairman of the Central Military Commission Xu Caihou.Liu Yandong, 61, is the only woman in the Political Bureau. She is the vice-chairwoman of the National Committee of the Chinese People's Political Consultative Conference, the top advisory body.Hu was also named chairman of the Central Military Commission of the CPC at the first plenary session Monday. Guo Boxiong and Xu Caihou were named vice-chairmen.Hu met military delegates to the Party Congress last night. 

BEIJING -- China may entirely switch to non-food materials such as cassva, sweet potato, sorgo and cellulose in producing ethanol fuel as a substitute for petroleum, said a government official. The country would approve no projects designed to produce ethanol fuel with food from now on, an official of the National Development and Reform Commission (NDRC) told a seminar on China's fuel ethanol development held in Beijing on Saturday. "Food-based ethanol fuel will not be the direction for China," said Xu Dingming, vice director of the Office of the National Energy Leading Group, who was also at the seminar. China has been trying to avoid occupation of arable land, consumption of large amount of grain and damages to the environment in developing the renewable energies. The current four enterprises engaged in producing corn-based ethanol would be asked to switch to non-food materials gradually, according to the NDRC official who declined to be named. The four enterprises in Jilin, Heilongjiang, Henan and Anhui have a combined production capacity of 1.02 million tons of corn-based ethanol per year. The country has become a big producer and consumer of ethanol fuel in the world after the United States, Brazil and European Union, according to the NDRC official. China Oil and Food Corporation (COFCO), the country's largest oil and food importer and exporter, would focus on sorgo in the production of non-food-based ethanol fuel, said Yu Xubo, president of COFCO at the seminar. COFCO, which owns the Heilongjiang enterprise and has a twenty-percent stake in the Anhui enterprise, aims to produce five million tons of ethanol fuel based on sorgo in the near future. COFCO is leading the way in developing cellulosic ethanol fuel under a cooperation agreement with Denmark-based Novozymes, which leads the world in researches into the key enzymes needed in large-scale production of cellulosic ethanol. The current cost for producing ethanol fuel from stalks of corn, which are discarded by farmers, is still too high. Novozymes is working on the commercialization of cellulosic ethanol both in the United States and China. "We are optimistic about China's prospect of making it work ahead of the US, as the cost of collecting the stalks of corn are much cheaper in China," said Steen Riisgaard, president and CEO of Novozymes. There is much opposition both in China and in the world to corn-based ethanol fuel, which is believed will lead to higher corn price.