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BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.

NANJING, Oct. 31 (Xinhua) -- United Nations Secretary-General Ban Ki-moon on Sunday urged China to keep moving down the path of sustainable development and put greater emphasis on social equity and environmental sustainability.Addressing students of Nanjing University in east China's Jiangsu Province, Ban said as the world's most populous country with the fastest growing economy, China has become the world's largest manufacturer and exporter but also the greatest emitter of greenhouse gases."Seven of the world's 10 most-polluted cities are in China. Your environmental footprint is growing daily," Ban said, adding that fortunately China is beginning to fight the side-effects of prosperity -- climate change and environmental degradation -- besides poverty.The UN chief noted that many of these development problems were raised during discussions as Chinese leaders recently met to draw the 12th Five-Year Plan for economic and social development of the country from 2010 to 2015.Ban applauded the Chinese government's goal of leading the country into an all-around Xiaokang society, or well-off society, by 2020 and said making Xiaokang a reality will, perhaps, ultimately become China's "great export -- its gift to humankind.""You already have a concept for it... Let China be the country to show the way ahead. Let China show the world how to live comfortably, in harmony with the environment while leaving none of its citizens behind," Ban said."China is serious about sustainable development. We all need to get serious about sustainable development," he added.On the UN Framework Convention on Climate Change (UNFCCC) talks, Ban said he is pleased to see progress in adaptation, technological cooperation and steps to reduce deforestation, but he has concerns over the slow progress in setting mitigation targets, monitoring, verification and the future of the Kyoto Protocol.The UN chief called on all governments to work together in a spirit of compromise and common sense in pushing forward UNFCCC progress during the Cancun meeting in December.Ban was in Nanjing for a short visit after attending the Summit Forum held on the closing day of the Shanghai World Expo. He received an Honorary Doctorate in Laws from Nanjing University.Ban began his China visit on Saturday and is expected to leave on Wednesday.

TAIPEI, Sept. 18 (Xinhua) -- Counties and cities in Taiwan are bracing for the approaching typhoon Fanapi, as the local meteorological department forecasts it will make landfall over the eastern part of Taiwan early Sunday morning.Taitung, Yilan and Hualien counties announced schools were suspended as of Saturday night. Nantou county has evacuated some local residents living in danger areas in advance.The Maokong cable car, the longest one in Taiwan has halted operations.Tsengwen Reservoir, Taiwan's largest reservoir, has begun discharging water since Saturday noon, in preparation for heavy rains brought by Fanapi.TransAsia Airways, Mandarin Airlines and Uni Air have announced the cancellation of some Sunday flights.Some local farmers in Taitung County were racing against time to harvest crops, and fishing boats have returned to harbor.The eye of Fanapi was 420 kilometers east from Hualien County, as of Saturday noon, according to the local meteorological department.Taiwan will be prominently affected by Fanapi on Sunday and Monday, according to the forecast.

BEIJING, Sept. 15 (Xinhua) - China is still likely to meet its full-year inflation target this year despite the August inflation rate quickening to a 22-month high of 3.5 percent year on year, officials from the country' s top economic planer said Wednesday.In August, the consumer price index (CPI) rose mainly by increased prices of food products like pork and eggs, as the coming Mid-Autumn festival in China had boosted the consumption of food items, according to the National Development and Reform Commission (NDRC).Further, the price rise of vegetables due to seasonal reasons contributed to the August CPI increase, said the NDRC authorities.The upcoming autumn harvest, which accounts for about 70 percent of China's annual grain output, is expected to stabilize food prices, which have a one-third weighting in the calculation of the CPI, said the NDRC.The NDRC also revealed that China would place central pork reserves on the market, which means pork prices cannot rise higher.Further, the industrial consumer prices are remaining stable with a slight decline, and this is not conducive to inflation, according to the NDRC.These elements are assisting in the drop of the CPI through the rest of the year, and is helpful for China to attain its full year inflation target, it added.China has targeted a 3 percent rise in consumer prices this year.

NANJING, Oct. 4 (Xinhua) - Three months after high school, 18-year-old Wang Mingyuan landed a part-time job in KTK Group, one of China's leading railway components manufacturers, in east China's Jiangsu Province.Unlike other migrant workers, Wang also started a three-year vocational school education at the same time, thanks to the work-study program launched this year by the Jiangsu provincial government.The program offers employment opportunities in high-technology and community-service fields to vocational school students. Currently, Wang works three days of each week in the company and spends another two days as a student, learning computer science and engineering."I felt very depressed about the future when I knew I failed the college entrance exam. But after attending the work-study program, I think if I work hard, I may fare as well as those with college educations," Wang said."Through the program, I could gain career-related, on-the-job work experience, which is valuable for my job hunting and career development," he continued.For a long time, college has been seen as a necessary, even if not sufficient, ticket to the middle class by the Chinese people. However, the steadily increasing number of students attending Chinese colleges since the late 1990s caused a growing number of graduates to fail in finding a job.In contrast, skilled workers are badly needed in China as skilled job vacancies hit 4 million across the country by the end of 2009."As the country's industrial restructuring accelerates, the demand for skilled workers will become increasingly buoyant," said Huo Jianguo, director of the Trade Research Institute affiliated with the Ministry of Commerce.On the one hand, the employment market ran short of skilled workers. On the other hand, China's employment situation remained grave as millions of people were laid off, Huo said.