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XI'AN -- Lawmakers in Northwest China's Shaanxi Province enacted a law on Saturday that is intended to improve protection of the Qinling Mountains, a habitat of endangered giant pandas.The law, which will take effect on March 1, is aimed at preserving biodiversity, preventing soil erosion (which averages 84 million tons a year) and promoting harmony between man and nature in the mountain range, which is a divide between China's north and south.It requires all future development projects in the Qinling Mountains to be assessed for their possible impact on the ecology and bans real estate projects and polluting industries in nature reserves, where the ecology is more vulnerable.The law also bans mining and resource exploration in nature reserves and forest parks.Local governments must ensure immediate demolition of existing projects that are potentially harmful to the ecology, it says.The Qinling range, which largely spans Shaanxi Province, covers more than 50,000 square kilometers.The range is home to approximately 300 Qinling pandas, a sub-species of giant pandas on the verge of extinction, and many other rare animals under state protection, such as golden monkeys, the red ibis and antelopes.
The government of Macao Special Administrative Region (SAR) logged 3.962 billion patacas (around 495 million U.S. dollars) in total revenue in January 2008, up 37 percent year-on-year, the government said. The latest statistics released by the SAR government showed that a major share of the total revenue for January 2008 came from direct gaming taxes, which saw an increase of 30.9 percent year-on-year to 3.09 billion patacas (386 million U.S. dollars). Thanks to the booming gaming industry in the island city, which has seen the opening of its 28th casino by the end of 2007, Macao's gaming taxes grew by 48 percent over the previous year to 29.3 billion patacas (3.7 billion U.S. dollars) in 2007, leading to an overall surplus of 21.8 billion patacas (2.7 billion U.S. dollars) in public finance, according to official statistics. In its latest research report released Friday, the Bank of China Macao Branch forecast that due to the dynamic development of gaming and tourism industries and ballooning fixed-asset investment in the city, Macao's GDP will keep a growth rate of 13 percent in 2008, which is lower than the 27 percent rate of the previous year.
Mixed feelings over buying Japanese productsHonda, Canon, Fuji, Sony, Mitsubishi, Asahi, Sumitomo, Shiseido, Square Enix and Daiichi Pharmaceutical apart from being Japanese, these brands have something else in common. They are all immensely popular in China. Chinese consumers, with a collective memory of the eight-year Japanese invasion and Japanese prime ministers' constant visits to the Yasukuni Shrine that honors war criminals, have mixed feelings toward these leading brands. To a recent poll by China Daily on its website (www.chinadaily.com.cn), which posed the question "Have you bought any products made in Japan over the past two years, and why?", 45.63 percent of the respondents said "yes", while 44.04 percent said they had not, and the rest of the 1,065 respondents made no comment. Most people, the survey reveals, buy Japanese products because of their quality, after-sales service, design and affordability. "I don't care if the product comes from Japan or is made in China, I only care about its quality," said a respondent. Some consumers believe that the history of war is a political issue, with no relevance to business. A Japanese goods buyer said: "That's the real world. You buy what's value for money. There's no way one can deny that Japanese goods are quality products," but added that if any Japanese company got involved in politics in a "negative way", its goods would fall from her grace. But a great number of people said they were in two minds when buying Japanese goods. "Frankly speaking, products made in Japan are superior to ours, so we tend to buy them. It's rational consumer behavior," a respondent said. "However, in terms of politics, the Japanese prime ministers' visits to Yasukuni infuriates all Chinese people." Most respondents who do not buy Japanese commodities share the latter view. Many of those who participated in the survey believe the two nations share many common interests such as bilateral trade and investment and the Japanese government should strengthen bilateral ties. Bilateral trade volume reached 7.36 billion in 2006, up 12.5 percent over the previous year. Japan continues to be China's third-largest trade partner. By the end of November 2006, Japanese firms had invested .45 billion in China. Japan is now the second-largest source of foreign investment in China, after the United States. From January to October 2006, Chinese enterprises invested .18 million in Japan, with total investment from China reaching 9 million. This year is the 35th anniversary of the normalization of China-Japan relations and the 70th anniversary of the "July 7 Incident" that marked the beginning of the War of Resistance against Japanese aggression.
First Deputy Prime Minister and presidential candidate Dmitry Medvedev smiles during a news conference at his election headquarters in Moscow March 3, 2008. (Xinhua/Reuters Photo) BEIJING, March 3 -- Chinese President Hu Jintao Monday congratulated Dmitry Medvedev on his victory in Russia's presidential election. With the joint efforts of both sides, China and Russia have seen in-depth and all-around development in their strategic partnership of coordination, Hu said during a telephone conversation with Medvedev. China and Russia have continued to strengthen mutual political trust and made fruitful achievements in pragmatic cooperation, he said, noting the successful national theme years held respectively in the two countries in 2006 and 2007. The Chinese government will unswervingly boost the strategic partnership of coordination with Russia on the basis of mutual respect, trust and support, Hu said. Hu said he is willing to make concerted efforts with Medvedev to push forward the two countries' strategic partnership of coordination. In their telephone conversation, Hu also invited Medvedev to visit China at an early date. For his part, Medvedev said Russia and China have continued to make headway in pragmatic cooperation in such fields as trade and economy, as well as conducting significant coordination in international affairs. He described Russia-China ties as a key factor in current international relations, saying that to develop the strategic partnership of coordination is the only option for Russia's policy toward China. Russia is ready to work closely with China to push their bilateral relations to a new high, said the president-elect. Medvedev thanked Hu for his invitation, saying he is looking forward to a visit to China and a meeting with the Chinese president. Medvedev, first deputy prime minister of Russian President Vladimir Putin's cabinet, won a landslide victory in Sunday's presidential election.
BEIJING, March 12 (Xinhua) -- Financial operations of loan growth in China was steady in February with increasing individual deposits, the People's Bank of China reported on Wednesday. Outstanding renminbi deposits among the country's financial institutions reached 40.49 trillion yuan (5.70 trillion U.S. dollars) in February, up 17.22 percent in comparison to the same period last year. The growth was 2.10 percentage points higher than January, the central bank said in a statement. In February, the outstanding value of all renminbi loans of financial institutions hit 27.22 trillion yuan, up 15.73 percent compared with the same period last year. The growth was 1.01 percentage points lower than January, the central bank said. China's M2, the broad measure of money supply, reached 42.10 trillion yuan in February, up 17.48 percent from a year earlier. The increment was 1.46 percentage points lower than the number in January. The narrow measure of money supply, M1, rose 19.20 percent to 15.02 trillion yuan, but the increment was 1.52 percentage points lower than January.