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YUZHOU, Henan, Oct. 16 (Xinhua) -- Scores of rescuers on Saturday night slowly made their way through dust-filled underground tunnels to continue searching for 16 miners who were trapped following a coal mine gas leak in central China's Henan province.Twenty-one miners have been confirmed dead in the accident, local work safety authorities said, while 239 out of the 276 miners who were working underground escaped after the gas leak occurred at about 6 a.m. in a small coal mine in Yuzhou city."The thick dust in the shaft is hampering the rescue. We must clear the dust first. We have located the trapped miners already," said Du Bo, an engineer with the mine's parent company who participated in the rescue.He said more than 2,500 tonnes of coal dust were in the pit due to damage caused by the gas leak.The conditions of the missing miners remains unknown. Officials said the miners were located 50 to 80 meters down the shaft from the entrance to the pit."Fortunately, there was no gas explosion. Otherwise, the consequence would be disastrous," a rescuer surnamed Wang told reporters. He said most of the victims were believed to have suffocated.Officials said work crews are struggling to retrieve the remains of the victims from the mine.The mine is owned by Pingyu Coal & Electric Co. Ltd., a company jointly established by four investors, including Zhong Ping Energy Chemical Group and China Power Investment Corp. It was hit by a similar gas and coal leak in 2008. Twenty-three people died in that accident.Ironically, miners were working underground to improve accident prevention measures when the gas leak occurred on Saturday.Billboards reading "Safety is a fortune of the family; Safety is of heavenly importance to our miners" hung at the entrance of the mine.Guo Gengmao, governor of Henan, and Luo Lin, head of the State Administration of Work Safety, supervised the rescue efforts.Authorities are investigating the cause of the gas burst.The accident occurred as people around the globe watched in awe during the rescue of 33 Chilean miners trapped underground for more than two months. China's work safety officials and experts said there are lessons to learn from Chile's dramatic rescue."Mining accidents in China usually claim heavy loss of lives. The lack of modern emergency response systems is a key factor," said Liu Tiemin, a researcher with the China Academy of Safety Sciences and Technology.Gas leaks in China's coal mines left 341 people dead in the first half of this year.Of note, the fatality rates have actually decreased in recent months as the country's senior officials ordered the industry to strengthen safety measures.China closed 7,466 illegal mines in four years, from 2006 to 2009. Mine operators are required to obtain all operational permits and have safety systems installed.

BEIJING, Aug. 29 (Xinhua) -- Shanghai Pudong Development (SPD) Bank said its first-half-year net profit rose 33.92 percent from one year earlier due largely to lending boom and increased commission fees.Net profits climbed to 9.08 billion yuan (1.34 billion U.S. dollars) in the first six months of this year, the Shanghai-based lender said in a statement filed with the Shanghai Stock Exchange late Sunday.Its growth in profits stemmed from rising operating revenues, a result of growing net interest earnings, increased fee incomes and the improved quality of assets, according to the statement.Earnings per share stood at 0.791 yuan, up 20.21 percent from one year earlier. Also, operating revenues grew 36.42 percent to 22.75 billion yuan in the first half of 2010, it said.Total assets for the commercial bank hit 1.781 trillion yuan by the end of June, up 9.77 percent from the end of 2009.

DAMASCUS, Oct. 31 (Xinhua) -- China's top political advisor Jia Qinglin on Sunday vowed to promote political, economic ties and people-to-people contact with Syria.Jia, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, made the pledge when holding talks with Suleiman Kaddah, vice chairman of the National Progressive Front.Jia hailed the traditional friendship and current cooperation between China and Syria in political, economic, cultural and education sectors and on international affairs, saying the similar experience of the two states in history helped to facilitate mutual understanding and support.China appreciates Syria's adherence to the one-China policy and its support to China on issues related to China's core interests and major concern, Jia said.China also supports the just cause of Syria for safeguarding its national sovereignty and territorial integrity, and backs Syria in resuming the exercise of full sovereignty on the Golan Heights at an early date, Jia said.Jia suggested the two sides strengthen political exchanges and mutual trust, and expand economic and trade cooperation."China encourages qualified Chinese enterprises with good credits to invest or set up factories in Syria, and supports Syria to export more to China," he said.Jia also proposed the two sides increase consultation on regional and international affairs, jointly safeguard the legitimate rights and interests of the two states and of other developing countries, push for a new, fair and reasonable international political and economic order, and promote the friendly cooperation between China and Arabian and Islamic countries.Jia suggested the two nations boost exchange at people-to-people and local levels, and promote cooperation in such fields as media, culture, education, academy and tourism.Kaddah, in his turn, applauded Syria's friendship and cooperation with China, saying China is playing an important role in safeguarding the world peace.Syria appreciates China for its long-standing position of settling international disputes through dialogue and enhancing mutually beneficial cooperation among all countries, he said.Kaddah reiterated Syria's stance on issues that concern China's core interests, saying Syria will constantly abide by the one-China policy.Jia and Kaddah both pledged to promote exchanges and cooperation between the CPPCC and the National Progressive Front.

WASHINGTON, Oct. 10 (Xinhua) -- China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said here on Sunday.Westerners prefer Western medication method that is quick but drastic, while Chinese people prefer traditional Chinese medication that is slower and giving time for different herbs to take effect. A steep rise of Chinese currency yuan would cause harms, Zhou told a group of bankers and reporters during a luncheon speech at the 2010 annual membership meeting of the Institute of International Finance (IIF).Governor of the People's Bank of China (PBOC) Zhou Xiaochuan hosts a press briefing during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., capital of the United States, Oct. 8, 2010. To manage Chinese currency issue is a "complicated art," as you have to take into consideration domestic inflation, unemployment rate, gross domestic product (GDP) growth, balance of payments and other factors, he added.IIF, which represents over 420 world leading financial institutions headquartered in more than 70 countries, host its annual membership meeting in Washington D.C. between Oct. 8 and 10, when the International Monetary Fund and World Bank host their annual meetings in the same time.

HONG KONG, Sept. 22 (Xinhua) -- Hong Kong stocks gained 45.12 points, or 0.21 percent to close Wednesday's trading at 22,047.71.The benchmark Hang Seng Index traded between 22,229.18 and 22, 021.6 on a turnover of 69.08 billion HK dollars (about 8.9 billion U.S. dollars).All the four sub-indices of the benchmark index landed in the positive territory, with properties advancing the most by rising 1. 2 percent.Heavyweight HSBC slid 0.49 percent to 81.1 HK dollars, extending its falling streak to the third day this week. The nation's telecom giant China Mobile gained 0.38 percent to 79.8 HK dollars. Sole market operator HK Exchange rallied 1.35 percent to 142.5 HK dollars.For financial shares, CCB, which accounts for the third largest weighting of the Hang Seng Index, went up 0.59 percent to 6.77 HK dollars. Meanwhile, the nation's largest lender by market value ICBC shed 0.17 percent to 5.84 HK dollars, Bank of China up 0.25 percent to 4.09 HK dollars and Bank of Communication down 0.36 percent to 8.4 HK dollars.The two leading mainland-based insurers went to different directions as Ping An slumped 0.6 percent to 74.4 HK dollars and China Life moved up 0.32 percent to 31.5 HK dollars.Local developers remained strong following two days of upward move. Cheung Kong, the flagship company of Hong Kong's richest man Li Ka Shing, advanced 2.11 percent to 111.5 HK dollars.Another major developer SHK rose 1.79 percent to 125.2 HK dollars and the city's main residential builder Henderson Land jumped 2.63 percent to 52.65 HK dollars. Oil shares put on mixed performances, with Sinopec up 0.91 percent to 6.67 HK dollars, PetroChina up 0.46 percent to 8.71 HK dollars and CNOOC down 1.36 percent to 14.5 HK dollars.Aside from constituents stocks, China's leading electric motor manufacturer BYD was also among the most active. Share price of the Shenzhen-based company went down 3.56 percent to 54.2 HK dollars. (7.76 HK dollars equal one U.S. dollar)

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