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Investors monitor the movement of stock prices at a brokerage firm in Guangzhou, South China's Guangdong Province May 9, 2007. [newsphoto]China's main stock index hit a fresh all-time high after breaking a key barrier of 4,000 points due to the soaring blue chip stocks as investors shrugged off official warnings of a possible market bubble amid soaring corporate profits. The benchmark Shanghai Composite Index, the most widely watched indicator of the mainland's stock market, gained 1.60 percent to end at 4,013.08 points, breaching the psychologically important mark of 4,000 for the first time. That marks a gain of 50 percent so far this year on top of a 130 percent rally in 2006. Blue chip stocks showed strong performances. China Unicom, the nation's second largest wireless operator, jumped its daily limit of 10 percent to close at 6.35 yuan per share. Bank of China rose 7.77 percent to 6.10 yuan, while Industrial and Commercial Bank of China was up 5.47 percent to 5.78 yuan. The surge came after the Shanghai Composite Index was pushed to a new high in the previous session as new investor cash flooded in after the week-long May Day market recess and China's yuan broke the barrier of 7.70 against the US dollar. The consistent hitting of new highs since January was partly driven by the wave of money brought in by new investors. Some 4.787 million new A-share trading accounts were opened in April, more than the combined number of the previous two years, statistics from China Securities Depository and Clearing Corporation. The figures for the new accounts are considered a rough indicator for the number of new individual investors entering the market. Analysts said the market may undergo drastic fluctation after the index breaks the 4,000 point mark, as worries about stock overvaluations build up. The stocks in the Shanghai and Shenzhen markets are trading at more than 40 times  earnings per share on average, much higher than developed markets overseas. The growing bubble in the country's stock market is a concern, said central bank governor Zhou Xiaochuan last week, adding he would closely monitor asset prices, the consumer price index and producer price index. Zhou's remarks added to speculation there could be an interest rate hike as early as next month. Xie Guozhong, former chief China economist for Morgan Stanley, suggested regulators should come up with certain policies to put the brakes on the surging stock market for the good of long-term economic development and social stability. "China's equity market is starting to show signs of getting out of control," said Zuo Xiaolei, chief economist of China Galaxy Securities in China Securities Journal on Wednesday The market rose even after the interest rate was hiked in March, and the bank reserve ratio was raised in April, said Zuo. "The neglect of policy and blindly pushing up the equity market fosters a big market risk," he claimed.

The first ever white paper on political parties pledges multi-party cooperation and political consultation under the leadership of the Communist Party of China (CPC). Released Thursday by the Information Office of the State Council, the white paper, entitled "China's Political Party System", explains in detail the formation, characteristics and development of the system and its role in economic and social development.Multi-party cooperation is a political system that suits China's conditions, the paper says."China will not mechanically copy other countries' political party systems," the document says, adding that the history of modern and contemporary China has proven that blind emulation of the political or party systems of other countries will not succeed.Zhuang Congsheng, director of the research office of the United Front Work Department of the Central Committee of the CPC, said multi-party cooperation is different from the two-party or multi-party systems in Western countries and the one-party system practised in some other countries. China has established a unique political party system and its own way to fulfill democracy, he said.In China, the ruling party and other parties share the same ideal and same objectives, said Zhuang.The white paper says multi-party cooperation has created a new form of political system in the world.Under this system, the CPC and other parties work closely together and supervise each other, instead of opposing each other, with the CPC ruling the country and the other parties participating in State affairs according to law.By the end of 2006, 31,000 people who were not CPC members and those without party affiliation took up government posts at and above the county level, the paper says.Among them, 18 served as deputy chiefs in the Supreme People's Court, the Supreme People's Procuratorate, and ministries, commissions, offices and bureaus directly under the State Council.Minister of Health Chen Zhu and Minister of Science and Technology Wan Gang - both educated in Europe - are the first non-CPC members appointed to the Cabinet since the 1970s.Apart from the CPC, there are eight parties in China: Revolutionary Committee of the Chinese Kuomintang, China Democratic League, China National Democratic Construction Association, China Association for Promoting Democracy, Chinese Peasants and Workers Democratic Party, China Zhi Gong Dang, Jiu San Society and Taiwan Democratic Self-Government League.Xinhua contributed to the story

A brand-new labor contract law comes into force from the New Year's Day that is expected to markedly propel rights for billions of Chinese workers."The government that is making the most concerted effort to protect workers rights is China," said Auret van Heerden, Geneva-based head of Fair Labor Association, which monitors work conditions in 60 countries.That "goes against the conventional wisdom that China is leading the race to the bottom," the Bloomberg News quoted Heerden as saying on Tuesday.The Labor Contract Law aims to improve job security for workers, making open-ended terms of employment for those employees who have completed two fixed terms with the same employer. The legislation limits overtime, sets minimum wages and guarantees one month's pay for each year worked for sacked employees. It is the first time that China's top legislature, the National People's Congress Standing Committee, has ruled on open-ended work contracts and severance pay for fired workers.The new law will make it more difficult for companies to hire temporary workers, a practice favored by exporters to cope with fluctuations in orders.One side-effect of the legislation will be higher labor costs for all employers in China. It is estimated that some labor-intensive businesses will have to raise their selling prices, or move to other places with lower cost.Olympus Corp., the world's No.4 digital camera maker, and Yue Yuen Industrial (Holdings) Ltd., the biggest maker of shoes for brands such as Nike Inc., are among companies shifting some production to Vietnam to cut costs.According to Chinese press reports, some companies have been terminating contracts and asking employees to resign ahead of the introduction of the law.Huawei Technologies Co., China's largest maker of telecommunications equipment, offered 7,000 workers new contracts with benefits if they terminated their old agreements, spokesman Ross Gan said.Some employees accepted, while others chose not to sign and left, he said, without providing details. The move wasn't aimed at evading legislation, Gan said in an email to the Bloomberg News.

BEIJING -- Xinhua was authorized on Tuesday to release a signed article by Shi Shan. The full text of the article is as follows:Carrying forward Buddhism or fueling evil cults?-- On the relationship between the 14th ** Lama, Aum Shinrikyo cult and Falun GongThe world has seen rapid development in the scientific civilization of mankind, but the malignant tumor of evil cults is still rampant, plunging innocent people into the depths of suffering. Evil cults such as the Solar Temple Cult of the United States, the Falun Gong of China and the Movement of the Restoration of God's Ten Commandments of Uganda wantonly preach the fallacy of "the End of the World", destroy social stability and jeopardize the lives and property of the public. Such perverse acts have aroused strong indignation of the people and governments of various countries. Many countries have staged a fight against evil cults by enacting legislation and setting up special agencies.Buddhist doctrine advocates good deeds and extrication from the earthly weal and woe. It has also long been viewing evil cults as the "feud of Buddha" and maintaining that "Buddha and demons do not coexist with each other". The 14th ** Lama, who boasts to be a "follower of Buddhism" and "human rights fighter", however not only has no hatred toward evil cults but instead shows a great deal of compassion for them. Isn't it worth pondering the reasons behind this?Let's first start with the Aum Shinrikyo cult of Japan. The cult leader Shoko Asahara claimed that it was "the 14th ** Lama who personally led him into the Mahayana tradition of Buddhism" and that he could shorten the time needed for one to become a Buddha from 2,000-3,000 years to just 10 years, urging people to ditch the ascetic practices advocated by Buddhism and follow his sect tenets to merrily achieve longevity and even to become a Buddha. The 14th ** Lama kept writing certificates or letters of recommendation for Shoko Asahara to the authorities of Tokyo, hailing Shoko Asahara as "a very capable religious teacher" and hoping the authorities would "allow the Aum Shinrikyo Sect to be exempted from tax payments and propagandize its credo. The German weekly Focus reported that without the support of the 14th ** Lama, it would have been absolutely impossible for Shoko Asahara to build up his sect empire and, within a short period of very few years, gain status as a cult leader in Japan. In other words, it is the 14th ** Lama's all-out "support" that turned Shoko Asahara, a swindler and a mountebank, into "a religious teacher".It was because of the 14th ** Lama who persistently supported and trumpeted Shoko Asahara that the Aum Shinrikyo cult could acquire the privilege of "tax exemption" and accumulated funds to bankroll his cruel evil doing against the Japanese people. In the Spring of 1995, Shoko Asahara organized a terrorist attack by discharging poisonous gas in Tokyo's subway, killing 12 people and injuring 5,000 others. The event sparked indignation from the Japanese people. In October of the same year, Shoko Asahara and his die-hard followers stood public trial in a local court of Tokyo and were punished in line with laws.Even at this moment, the 14th ** Lama who claimed to be a "human rights fighter" still spoke plausibly to the Kyodo News Service that Shoko Asahara remained his friend and that he still thought what the Aum Shinrikyo cult preached was in accordance with Buddhist doctrines. It was the support and connivance of the 14th ** Lama who took the foe for his friend that made Asahara feel secure in the knowledge that he had strong backing. The evil cult continued to do evils under the guise of constantly changed names and leaders. Eventually in 1999, the Japanese Senate completed the legislative procedures against evil cults including the Aum Shinrikyo. The Tokyo authorities also took a number of measures to crack down on the leaders of the evil cult.Why would the 14th ** Lama openly violate the teachings of Sakyamuni that urge his followers to get rid of demons and uphold truth and laws to favor Aum Shinrikyo? Why would he flout the tenets of Buddhism urging the masses not to do evils but to do good deeds? The 14th ** Lama had confessed in a letter to the cult, appreciating the Aum Shinrikyo Sect for its "generous donation to our Buddhist collective in exile". Aha, it turned out to be that the "leader" even bartered away the sacred tenet of Buddhism as a cheap bargaining chip in money deals.It is the 14th ** Lama's own deeds that have step by step betrayed his real intentions and political ambitions put under the guise of Buddhism and peace. A weekly newspaper in Manila commented it was a pity that the 14th ** Lama wore the cassock of a Lama but played political tricks, spoke of the pursuit of freedom through peaceful means but harbored in mind the vain attempt of restoring the past feudal rule of Lamaism. Even catholic senator P. Santorum of the United States couldn't help exclaiming that such conduct reflected a subdued religious sentiment. He held that to establish a society respecting life, cracking down upon crimes and promoting dignity of mankind, efforts must be made to prevent religion from being individualized. It appears that many people of insight across the world have recognized the tricks of the 14th ** Lama in using Tibetan Buddhism to engage in political activities and have stayed on high alert to and repulsed the deed of the ** Lama.Let's now have a look at the 14th ** Lama's attitude toward China's evil cult Falun Gong. Cult leader Li Hongzhi of Falun Gong took religion as pretence, trampled upon religious doctrines and thus invited indignation, reprimands and stern objections from the religious circles. They said that Li Hongzhi had blasphemed Buddhism by fabricating his birthday from July 1952 to May 13, 1951, the date on which Sakyamuni was believed to be born. His attempt to pass himself as the reincarnation of Sakyamuni and his bragging about getting true knowledge from Sakyamuni and thus being more powerful than Sakyamuni was "an extreme blasphemy to Buddhism", they said. However, even such an evil cult leader who is denounced by many people and had to flee abroad to escape the punishment of laws secured compassion and admiration from the 14th ** Lama. The latter first dispatched his representative to comfort Li Hongzhi and then sent over his representatives to conspire with Li and staged various farces at the time when the 56th World Human Rights Conference was held in Geneva, stopping at nothing to spread lies and rumors and to trumpet anti-China bills.As one Chinese saying goes: Birds of a feather flock together. The real reasons for the collusion of the 14th ** Lama and Li Hongzhi are their shared situation. They are both in exile after their illegal acts to subvert the Chinese government and the Chinese people ended in constant failures under the august Chinese Constitution and laws; Shared nature--They are both not resigned to failures and attempt to hoodwink and manipulate their few domestic followers to carry on making turbulence and to hold back the rejuvenation of the Chinese nation; Shared intention--They are both hostile to their motherland and regard the 1.3 million Chinese as enemies, dreaming a pipe dream of returning to China, with the support of their masters, to materialize their evil objective of splitting China. Imagine the 14th ** Lama, the self-proclaimed "religious leader", even condescended to associate with Li Hongzhi who has been labeled by the United International World Buddhism Association Headquarters as a preacher of evil cult and a swindler! This obviously reflects that the 14th ** Lama has cornered himself into a dead end!

China has launched a campaign to persuade more women to breast feed, worried that Chinese babies' development lags developed countries because they are not fed properly in their first months of life. The government is also worried about the growing use of powdered baby milk formula -- which many Chinese believe is more "modern" and better for the baby -- especially after 13 babies died of malnutrition in 2004 from being fed fake formula. "Breast milk is a necessary and ideal food for a baby, and the nutrients it contains are the most suitable for the baby's digestion and nourishment," the Health Ministry said on Wednesday in a statement on its Web site (www.moh.gov.cn). "For mothers, breast feeding is beneficial to post-partum recuperation," it added, without saying what the breast-feeding rate was in China. Chinese babies put on less weight in their first six months than babies in developed countries, the ministry said. "The main reason is parents lack scientific knowledge about feeding," it said, adding that problems caused by poor baby nutrition might include mental retardation. There was a particular problem in the countryside, where parents did not know when or how to best start introducing solid food to babies or how to balance their nutritional requirements, the ministry said. The government would spend more time promoting breast feeding and providing information as well as enforcing a ban on baby milk formula being sold or advertised in hospitals, it said. Studies around the world have shown that breast-feeding has many advantages for children including reducing infections, respiratory illnesses and diarrhea. Other studies have shown that babies who are breast-fed for the first six months of life grow better without getting too fat.

来源：资阳报