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YUSHU, Qinghai, April 20 (Xinhua) -- The death toll has climbed to 2,064 from a devastating earthquake in northwest China's Qinghai Province, with 175 people still missing, the rescue headquarters said Tuesday.As of 5 p.m. Tuesday, the 7.1-magnitude quake, which struck the Tibetan Autonomous Prefecture of Yushu at 7:49 a.m. Wednesday, had also left 12,135 injured, of whom 1,434 were in serious condition, the rescue headquarters said.

BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.

JERUSALEM, June 6 (Xinhua) -- Visiting Chinese special envoy on Middle East affairs Wu Sike held talks with Israeli Foreign Minister Avigdor Lieberman on Sunday, urging Israel and the Palestinians work together to push forward the Middle East peace process.Wu said the Middle East peace process is at a crucial moment now, as Israel and the Palestinians have entered indirect talks. China welcomes this concrete step, which broke the year-long deadlock in the peace process, and hopes that the two sides seize this opportunity to reach real progress, he said.China sees significance of mutual trust and flexibility in the talks, and asks Israel and the Palestinians to treat the negotiations seriously and put good faiths in them, stopping provocations and creating favorable conditions for fruitful talks. Israeli Foreign Minister Avigdor Lieberman (R) meets with Wu Sike, China's Special Envoy on the Middle East, in Jerusalem, June 6, 2010.As to the recent Gaza aid flotilla incident, which caused several casualties, Wu told Lieberman that China hopes Israel carry out UN resolutions in a comprehensive and serious manner, and lift the blockade on the Gaza Strip.China, as a permanent member of the UN Security Council, will communicate and coordinate with all concerned parties, including Israel, to play a constructive role in promoting the Middle East peace process, Wu said.For his part, Lieberman said Israel is willing to work with the Palestinians to push the proximity talks into direct negotiations, and reach concrete results from them.Israel is satisfied with the development of Israeli-Chinese relationship and appreciates the active role China is playing on the Middle East affairs, said the foreign minister, adding that he hopes both countries will keep close contact with each other and deepen the bilateral relations.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.