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BEIJING, Aug. 13 (Xinhua) -- Chinese rating agency Dagong Global Credit Rating Co. on Saturday defended its AAA rating given to the Ministry of Railways, which has been under public fire over a train collision last month.The ministry received the long-term credit rating after launching on Monday its first bond sales since the crash on July 23 that killed 40 people near the Wenzhou city of eastern Zhejiang province.It sold 20 billion yuan worth of three-month bills on offer in the interbank market, with a yield of 5.55 percent, a relatively high rate for short-term government paper.The rating was assigned because of the ministry's status as a government agency backed by the central government revenue, its sufficient capital flows and strong financing ability, Dagong said in an email to Xinhua.The agency made the elaboration in response to market doubts as the ministry is already heavily indebted and the accident has stirred up skepticism about the its credibility and the safety of fast-expanding railways.Adding to doubts is that the AAA rating of the ministry is even a notch above China's local currency debt rating of AA+, which was also rated by Dagong.Government data showed the ministry's debts exceeded 2 trillion yuan (313 billion U.S. dollars) as of the end of June, raising its debt ratio to 58.53 percent, slightly up from the end of the first quarter of this year.Dagong said in the statement that the debt-to-asset ratio is medium level, lower than the alert line for the ministry which is 75 percent.The ministry has large-scale assets of good quality and relatively large room for fund-raising, Dagong said.The ministry has "extremely strong" repayment ability as it is backed by the state's credit, Dagong said, referring it as one of the three authorities that are allowed to issue bonds, along with the Ministry of Finance and the People's Bank of China.In July, the ministry issued 20 billion yuan of one-year commercial papers with a coupon rate of 5.18 percent, but only 18.73 billion yuan of the total was bought.Analysts said it has become more difficult for the ministry to borrow money because of tightened market liquidity and concerns over the ministry's debt burden.China's top four banks said at the end of last month that they will continue to offer loans to the ministry based on market conditions and risk appraisal. Credit from the four largest state-owned banks including the Industrial and Commercial Bank of China and the Construction Bank of China has been the major source funding the construction of China's fast-growing railways in recent years.

BEIJING, July 14 (Xinhuanet) -- European music service Spotify is set to launch in the United States on Thursday, according to media reports.The streaming service will be available in the morning by invitation and through subscription."Spotify is a new way to listen to and manage your music, discover new tracks and share songs and playlists with friends – music whenever you want it, wherever you are," the company said in a statement.Spotify's streaming music and subscription service have long been popular in Europe since its launch in late 2008, and the company has been aiming for a US launch for nearly as long.Spotify has inked agreements with Sony Corp Music Entertainment, EMI Music, and Vivendi SA's Universal Music Group in the last few months. It is expected to close a deal with Warner Music Group by launch or soon after, according to a source.

BEIJING, Aug. 12 (Xinhuanet) -- A Connecticut woman who was savagely attacked by a pet chimpanzee and had her face deformed in 2009 was shown on TV with a new face Thursday.TV pictures revealed Charla Nash’s new nose, lips and eyelid, which were transplanted in May by doctors at the Brigham and Women’s Hospital in Boston.Nash said to the viewers that she can move her mouth, smile and smell. Her daughter Brianna added that her mother can even talk and eat better now.Dr. Bohdan Pomanhac led a 30-member surgical team to complete the face transplant in 20 hours. The team also transplanted two hands but these were later removed due to blood flow problem when Nash suffered pneumonia.Nash’s friend Sandra Herold owned a 15-year-old chimpanzee named Travis that attacked without any provocation when Nash was visiting Herold.Travis simply went berserk and could not be stopped even after Herold stabbed it with a kitchen knife. It would only let go of Nash after the police arrived and shot it dead.

SAN FRANCISCO, June 15 (Xinhua) -- As social networking sites like Facebook and Twitter grow worldwide, more Internet retailers are beefing up their efforts to add social twists to their business, trying to define the idea of "social commerce" and capitalize the opportunity.On Wednesday, online auction giant eBay revealed some of the social features it is planning to launch later this year, while Copious, a San Francisco-based startup, launched its online social commerce marketplace with a slogan of "buying from and selling to people, not strangers."Copious asks users to log in through their Facebook accounts and allows buyers and sellers to see if they have friends in common in their social networking sites. Buyers can see more information about a seller and also see whether anyone in their networks has purchased, shared or commented on an item from a specific seller, rather than anonymity or simple profiles on sites like eBay and Craigslist.As for sellers, Copious has a social pricing mechanism that enables a seller to offer buyers discounts for sharing listings on Facebook and for following the seller on Copious.Jonathan Ehrlich, Copious co-founder and former Facebook head of marketing, told technology blog TechCrunch that the site is centralized around using social data as a signal to help users understand and trust other parties.According to Copious, the startup founded in January 2011 has raised two million U.S. dollars in funding from Foundation Capital, Google Ventures, Blackberry Partners Fund and a number of Silicon Valley angel investors.Also on Wednesday, Christopher Payne, vice president and head of eBay North America, delivered a keynote speech at the Internet Retailer Conference and Exhibition 2011 in San Diego, revealing some features eBay is launching during the social trend.One feature will enable users to log in their Facebook account on eBay's homepage to get product recommendations based on one's purchasing history and things they have "liked" on their Facebook page. Another feature will allow users to post multiple products on their Facebook page to get their friends' opinions and ask them to vote for the final purchase.EBay has been stepping up its social efforts, and Payne said on Wednesday that social is a top-level initiative for Internet retailers. Last month, eBay hired former Yahoo executive Don Bradford to lead its social commerce efforts. Last November, it launched Group Gifts service, enabling users to chip in to buy a gift for someone.A research by Adgregate Market in March showed that more brand websites are losing traffic to their Facebook pages. The study revealed that the "Facebook stores" of most Internet retailers are more efficient at acquiring visitors, indicating social commerce is poised to take off.Although the idea of social commerce is still new, more companies are trying to seize the opportunity in their own moves.There are many other companies taking the social commerce model. Oodle, the exclusive provider of classified ads on the Facebook Marketplace, rolled out a series of social features last December to make more money from social classifieds.In February, Payvment Inc. launched a Facebook Mall, where consumers can shop for more than 1.2 million products among 60,000 retailers in a single shopping cart.Yardsellr, which is often called "an eBay for Facebook," allows sellers to list items at fixed prices in different categories called "blocks," such as jewelry and purses. Prospective buyers can "like" the "blocks" they are interested in on the Yardsellr website or its Facebook page, and then they will get Facebook news feed if a seller has something to offer in the category.Yardsellr said 1.5 million people were following its "blocks" by late December 2010 and the number of new followers is growing by 20,000 daily.