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CHONGQING, June 7 (Xinhua) -- Rescuers on Sunday recovered seven bodies from the debris of Friday's landslide site in southwest China, as the search continued to find the 65 people still missing.     The seven bodies, including five men and two women, were yet to be identified, according to the rescue headquarters.     A brief farewell ceremony was held for the deceased.     Rescuers carried out a second explosion at 11 a.m. Sunday to enable the drilling of holes to send food and air to 27 trapped miners who could still be alive after the massive landslide in Chongqing Municipality. Local militia and firemen stand on the alert prior to the second blasting in Wulong County of southwest China's Chongqing, June 7, 2009. The second blasting was carried out at around 1:00 p.m. Sunday to enable the drilling of a hole 40 meters deep to send food and air to 27 trapped miners who could still be alive after Friday's massive landslide.Three drilling machines were working and staff were setting up a fourth, said Ai Yang, spokesman for the Chongqing municipal government.     More than 400 experts, technicians and rescuers had joined the search and rescue operation at the headquarters, said Ai.     Eighty-five people whose homes were threatened by a barrier lake formed by the landslide would be relocated, said Ai. Those in the affected area downstream of the lake had already been evacuated.     The two entrances of the Jiwei Mountain mine were both buried under rocks when the landslide happened at around 3 p.m. Friday. It also buried an iron ore plant and 12 houses in Tiekuang Township, Wulong County, about 170 kilometers southeast of central Chongqing.     Eight people -- three of them seriously injured -- were rescued late Friday. But 21 residents, the 27 trapped miners and 18 miners who worked above ground, two telecommunications company workers and four passers-by, went missing.     With sniffer dogs and life detectors, hundreds of rescuers found no signs of life on the debris on Saturday, said a spokesman with the rescue headquarters.     The 27 miners are about 150 to 200 meters below ground. The air and a small amount of water in the mine could support them for five to seven days. Water is believed to exist in the shafts as Jiwei Mountain mainly comprised limestone, said the spokesman.     Early Sunday, rescuers completed a 28-km road to the site for large machinery such as excavators and bulldozers. Previously, there was only a simple village road.     "We will do our best and use every second to rescue them," said the spokesman, but the mountain was still quite unstable and the rescue operation was dangerous.     On the basis of aerial photos, experts estimated the volume of the landslide debris at about 12 million cubic meters, said Ai Yang.     "Under such circumstances, every step forward in rescue will need unimaginable caution, manpower and material resources," he said.     "The rock debris just covered the entrance, but there are water channels in the shaft. I believe my husband is still alive," said Chen Yuanmei, a woman at the site.     Chen said she was tending her garden in Hongbao Village, when she saw the rocks slide down, throwing up black dust clouds. The dust lingered around 10 minutes and covered her yard, which is 2 km from the mountain.     She felt something bad had happened and immediately called the mine authorities, but failed to reach them.     The Chongqing Land, Resources and Housing Administration has issued an emergency circular urging districts and counties to organize professional teams to launch a thorough inspection of geological disaster-prone areas.     Chinese Vice Premier Zhang Dejiang inspected the site early Saturday, asking rescuers to try their best while avoiding secondary disasters. Experts have been asked to investigate the cause of the landslide.     The Ministry of Civil Affairs has earmarked 6 million yuan (870,000 U.S. dollars) to the county for relief work.     The money would be mainly used as benefits for the victims' families and relocation of residents, said Ai.     A large helicopter would also join the rescue work to help carry in equipment and personnel early on Monday, he said. 

BEIJING, June 21 -- Chinese stocks rose to a weekly high on Friday after the securities regulator lifted a nine-month ban on initial public offerings (IPOs), indicating investors' strengthened confidence in the market based on ample liquidity and clearer signs of economic recovery.     The Shanghai Composite Index, which tracks the bigger of China's bourses, rose 26.59, or 0.9 percent, to 2,880.49 at close, its highest close since July 28, 2008.     The CSI 300 Index, measuring exchanges in Shanghai and Shenzhen, gained 0.7 percent to 3,080. Investors are set to return to the bourses in a big way with the return of initial public offerings and robust economic indicators. The market barometer has also shown significant gains in the past few days. Shi Yan    "We expected the new IPOs to be the biggest bad news for the capital market this year," said James Yuan, chief investment officer of Everbright Pramerica Fund Management Co Ltd. "But now it is not as daunting, thanks to the improved economy, more liquidity and new listing rules."     Guilin Sanjin Pharmaceutical Co, a medium-sized drug firm, on Thursday night received regulatory approval from the China Securities Regulatory Commission (CSRC) to seek a stock exchange listing, marking the resumption of IPOs since September last year.     The company said it plans to float 46 million A shares on the Shenzhen bourse on June 29 and will start a road show for the same on June 22.     "The restarting of IPOs of smaller firms rather than the big caps indicates that the government aims to stabilize the market," said Dong Chen, senior analyst, CITIC China Securities. "If the market does not panic after the new round of IPOs, the regulator will grant more approvals next week, but probably for small caps."     Earlier reports said China State Construction Engineering Corp (CSCEC), the country's biggest home-builder, would probably be among the first batch of companies to issue 12 billion shares to the public and raise about 40 billion yuan.     Based on the number of new shares to be issued and the average price-earning ratio on the secondary market, analysts said the 32 companies now waiting could raise as much as 70 billion yuan through their IPOs.     "The loose monetary policy, coupled with the huge advance of the Shanghai Composite Index, has bolstered confidence that the stock market can withstand the added supply of stock," said Dong.     "Meanwhile, the anticipation of gains on their investments may propel more investors to test the market waters, when the bullish trend becomes clear," he said.     China's major market barometer has surged nearly 58 percent this year, thanks to the government's timely launch of the 4-trillion-yuan economic stimulus package and loose monetary policy.     The resumption of IPOs is also expected to give a strong boost to brokerages whose earnings are expected to improve on the investment banking revenues.     CITIC Securities gained 2.8 percent to 29.54 yuan, the highest in a year, while Sinolink jumped 10 percent to 21.46 yuan.     Shares of medical companies also outperformed on news of drugmaker Guilin Sanjin's listing and the spread of the H1N1 flu virus.     Beijing Tiantan Biological Products, a biological bacterin producer, jumped to its 10 percent daily limit for the second day in a row to 26.26 yuan after it said on Thursday that it had started to research bacterin for fighting the H1N1 flu virus.

SHANGHAI, July 17 (Xinhua) -- U.S. Commerce Secretary Gary Locke said in Shanghai Friday that he expected cooperation between China and the United Stated in the fields of clean energy technology and carbon emission elimination would benefit both countries in the campaign against climate change.  "I believe there is great opportunity for greater cooperation between United States and China," said Locke, a Chinese American, in his speech at a welcome ceremony jointly hosted by American Chamber of Commerce in Shanghai and the US-China Business Council.     His audience included dozens of Chinese businessmen from across the country and representatives of international corporations with branches in Shanghai.     "I want China and the United States to lead the world and save the planet from irreversible climate change. U.S. Commerce Secretary Gary Locke delivers a speech at a welcome reception hosted by the American Chamber of Commerce in Shanghai and the United States-China Business Council, in east China's Shanghai, July 17, 2009.     "We all share the same atmosphere, and if we do not act, we will all suffer from the coastal flooding, unpredictable weather and agricultural damage," he added.     Locke spoke highly of China's efforts in eliminating carbon emissions. He said that developing new clean energy could create jobs in America, help promote renewable energy and curb pollution in China.     "So much of U.S. direct investment in China created win-win opportunities for both workers in America and workers in China and benefit the climate in the world and planet as well," Locke said.     He later attended the cornerstone laying ceremony of the United States Pavilion at the Shanghai Expo site.

BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

BEIJING, May 9 (Xinhua) -- The nearly 10 billion yuan donation from the Communist Party of China (CPC) members would all be used for the reconstruction of China's quake zones, the Organization Department of the CPC Central Committee said Saturday.     As one of the relief efforts after an 8.0-magnitude earthquake battered southwestern China on May 12 last year, some 45.5 million CPC members donated 9.73 billion yuan (1.43 billion U.S. dollars) as "special membership fees" for the quake victims.     So far, nearly 90 percent of the fund had been allocated to the quake regions, and the rest would also be appropriated according to procedures, the department said in a statement.     The money was spent on rebuilding schools and subsidizing survivors among others, it said