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China will gradually sell its planned 1.55 trillion yuan (3.6 billion) in special domestic bonds to finance its overseas investment agency, a senior central bank official was quoted on Monday as saying. The country's stock market has been hit by the bond issue plan, approved by China's parliament on Friday, as investors feared such a move would suck funds from the market. "The plan will be carried out gradually according to its monetary policy," Yi Gang, assistant governor of the People's Bank of China, told the Shanghai Securities News. Yi reiterated the Finance Ministry's view that the bond issue would have only a neutral impact on the domestic economy, the newspaper said. The Finance Ministry indicated on its Web site on Friday that it would issue the bonds directly to the central bank in exchange for part of the .2 trillion in foreign currency reserves under the central bank's control. No specific timetable was given for the sale of the bonds, but the increase in this year's debt ceiling suggests they will all be issued this year.
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.
WASHINGTON: A team of researchers found there is not much difference between the sexes when it comes to talking, when you actually count the words. The researchers placed microphones on 396 college students in the United States and Mexico for periods ranging from two to 10 days, sampled their conversations and calculated how many words they used in the course of a day. The score: Women, 16,215; Men, 15,669. The difference: 546 words: "Not statistically significant," say the researchers in Friday's edition of the journal Science. "What's a 500-word difference, compared with the 45,000-word difference between the most and the least talkative persons" in the study, Matthias R. Mehl, an assistant psychology professor at the University of Arizona, who led the research, said. He said the least talkative person in the study - a male - used just over 500 words a day, while another male topped that by more than 45,000. Co-author James W. Pennebaker, chairman of the psychology department at the University of Texas, said the researchers collected the recordings as part of a larger project to understand how people are affected when they talk about emotional experiences. They were surprised when a magazine article asserted that women use an average of 20,000 words per day compared with 7,000 for men. If there had been that big a difference, he thought, they should have noticed it. "Although many people believe the stereotypes of females as talkative and males as reticent, there is no large-scale study that systematically has recorded the natural conversations of large groups of people for extended periods of time," Pennebaker said. Indeed, Mehl said, one study they found, done in workplaces, showed men talking more. Still, the idea that women use nearly three times as many words a day as men has taken on the status of an "urban legend", he said. Agencies
Chief judge Xiao Yang has pledged to keep up the fight against judicial corruption after the nation's court system rooted out 292 judges last year because of unethical deeds. Greater efforts would be made this year to build a "clean court system", Xiao, president of the Supreme People's Court (SPC), said in an interview with China Daily. "We must never relax our vigilance on corruption," he said, after he reported to the National People's Congress in early March that, last year, 292 judges were subjected to power abuse investigations, with 109 of them prosecuted. The number of judges charged with corruption was 378 in 2005 and 461 in 2004. However, Xiao, who has been SFC president since 1998, said he had ongoing fears about the "grave situation" of judicial corruption. The 69-year-old chief judge said he "lost sleep" because he was so deeply disturbed by reports of corruption, especially those involving court officials. Corruption involving judges, though in small number, damaged the image of the country's court system and undermined the credibility of the justice system. "We will continue to be serious in handling the official corruption cases," he said. In 2006, two high-level group corruption cases were reported by the Chinese court system. The first involved three top judges from Fuyang Intermediate People's Court in East China's Anhui Province, who were arrested for taking bribes since 2005. Two of the former judges were sentenced to 9 and 10 years respectively, with the other one still on trial. The second case involved five senior judges from Shenzhen's Intermediate People's Court in South China. Three of them were sentenced to jail terms ranging from 3.5 to 11 years, with the other two still on trial. Corrupt judges have disrupted the working of the court system and sometimes resulted in wrong verdicts, Xiao said. A "firewall" against corruption will be consolidated, he said, with the apex court on its way to make four important sets of rules on fee charges, court discipline, judge discipline, and court supervision. The first two sets of rules will be implemented this year, with the other two released for public comment. Of the new rules to be released, he said, court officials are barred from using their influence to seek price discounts in any transactions, to occupy properties under other people's ownership, to collect or to spend money through gambling, to have personal investment managers, or to seek benefits for their family members. Also, beginning last year, the court introduced an "anti-corruption deposit" system. If a 22-year-old court staff member deposits 500 yuan () every year and does not do anything illegal, he will get 300,000 yuan (,600) upon retirement - including his premium and reward.