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HAICHENG, Liaoning: The death toll has risen to 10 following the collapse on Sunday of a dam at an iron mine in Liaoning Province, after rescuers retrieved four more bodies Monday.Rescuers search the missing after the collapse of a dam at an iron mine in Shiqiaozi village of Haicheng, Northeast China's Liaoning Province November 26, 2007. Ten, including a child, has been confirmed dead and another three are still missing. [Xinhua]Zhang Xingdong, vice-mayor of Haicheng and head of the rescue team, said the bodies, including one of a child, were buried deep in silt.He said about 750 people, including soldiers, armed police, local officials and villagers, were continuing to search for three people still missing after the dam collapsed in the village of Shiqiaozi in the city's Ganquan township.More than 30 dredgers have also been employed to help clear the silt, he said."To ensure the safety of rescuers, we have sent experts to closely monitor four other iron tailings dams nearby to guard against possible further accidents," Zhang said.The four dams have a registered capacity of about 1 million cu m of waste ore each.The power supply has yet to be turned back on in Xiangyang, which is one of two low-lying villages hit by a large volume of mud-like debris after the collapse, he said.The debris smothered homes, suffocating and crushing those inside, he said.A further 17 people were injured in the accident and are now in hospital. One is in a critical condition, while three others were also seriously hurt.Doctors have said they are expected to pull through, however.The local government has set up its rescue headquarters at the primary school in Xiangyang village. It has also provided candles, quilts, clothes and food to villagers made homeless.Some were housed overnight in a local school, while others stayed with relatives.Xiangyang, which has a population of about 980, was the worst-hit by the debris, with 33 houses destroyed.The collapse also affected the village of Caijia, which is home to some 500 people. No casualties have been reported there, but there have been reports of severe damage to houses, vehicles and grain fields.The 100-m-long by more than 10-m-high dam was situated on a hillside. A crack more than 10 m long appeared in it and a river of waste ore and mud some 80 m wide spilled down across cropland.With a capacity of 150,000 cu m, the dam, which belongs to the Dingyang Mining Co Ltd, an iron ore producer, was designed to contain waste ore. However, over recent years, a large quantity of water had built up inside it, Zhang said.The mining company is a subsidiary of the privately run Xiyang Corporation, a magnesium refractory products and fertilizer producer based in Liaoning.Xinhua

A plan to rebuild part of the Yuanmingyuan (the old Summer Palace) Park has met with mixed public response.The park's management office said it is planning to rebuild a palace gate before the end of this year.Zong Tianliang, spokesman for the office, said the project will take a year to complete and will be "a loyal copy of the original gate".But many fear construction of the gate might destroy some the historic remains.Yuanmingyuan is regarded as a symbol to remind Chinese people of the shameful history of the 19th century when China was bullied by Western countries.What visitors see in the park today is mostly the ruins left from a fire that the British and French troops set after plundering countless treasures from the royal garden in 1860.More than half of the 2,300 netizens who responded to a poll on sina.com on Monday were against the rebuilding project.About 54 percent agreed that rebuilding the gate would destroy some historical relics, and protecting what "remains is the best solution"."Yuanmingyuan as it stands today is the best material for patriotic education. Rebuilding will not only cost money, but also probably make people forget part of history," a netizen said.However, 44 percent agreed it was necessary to restore the exquisite imperial garden to its former glory, described as a masterpiece in Chinese classical garden art.Researchers said the Yuanmingyuan, a general name for three royal gardens built and expanded in Qing Dynasty (1644-1911), used to cover nearly 350 hectares and consisted of 100 buildings of different styles, including European and southern China."Rebuilding part of the garden and showing visitors the comparison can also educate people," another netizen said.Zong said the rebuilding is part of the Yuanmingyuan Ruins Planning project, which was approved by the municipal government and the State Administration of Cultural Heritage in 2000.The planning agreed to rebuild no more than 10 percent of the original royal garden.Currently the park has only three rebuilt structures - a European-style maze, a pavilion and the palace gate of Qichunyuan.Some experts have said that a rebuilt Yuanmingyuan would still be incomplete without all its lost treasures. A bronze horse head looted from the garden was recently sold for .84 million and returned to China.

NEW YORK - The overheating of the Chinese stock market is a structural problem that will be resolved by developing more financial products and cracking down on illegal activities, a Chinese securities regulatory official said Thursday. Hu Bing, deputy director-general of the market supervision department at the China Securities Regulatory Commission, said at a conference in New York that authorities are seeking to roll out more products to broaden investors' options, such as real estate investment trusts, or REITs, as well as listed infrastructure funds. Other eventual offerings will include derivatives products such as stock-index futures and warrants. These products will be launched "when conditions are ready," Hu said at a China Investment Forum sponsored by Merrill Lynch and Institutional Investor. He said he couldn't provide a clearer timeline for when those products would be ready. Hu acknowledged a "liquidity surplus problem" that is contributing to the overheating of the Chinese stock market and noted that hot-money inflows coming in through illegal channels are exacerbating the problem. Tackling the liquidity issue is a long-term project that "cannot be resolved just by (raising) the interest rate," Hu said. "So the structural problem has to be resolved using structural measures." Earlier this week, the Chinese government tripled its stamp tax on stock trades in an effort to rein in the equity market. The Shanghai Composite Index more than doubled in 2006 and is still up around 50 percent so far in 2007. Hu said China's capital markets are still young and face a "golden opportunity" to develop their depth and breadth. The majority of individual investors rely on rumors or inside information to make their decisions, leading to speculative gains in stocks, he said. Hu said authorities are stepping up efforts to crack down on insider trading, "but because this is a transitioning society in an emerging market, it will take a long time."

SINGAPORE: China and the United States plan to set up a defense hotline aimed at improving military relations, a top Chinese general said over the weekend. Zhang Qinsheng, deputy chief of the general staff of the People's Liberation Army, made the remarks at the plenary session of a three-day security summit known as the Shangri-La Dialogue. He said the issue of the hotline between the Chinese military and the US Defense Department would be settled when he visits the United States in September for the ninth Sino-US defense talks. Zhang also told the summit that China's defense budget is authentic. As the Chinese military gradually modernizes, some have raised questions over "military transparency", and voiced suspicions on China's defense budget. So it is necessary to clarify the matter, Zhang said. "In China, defense budgeting must follow a set of strict legal procedures, and the published budget is true and authentic," he said. He added that the increased proportion of the defense budget is mostly used to make up for inflation, improve the welfare of military personnel and logistics support. "Given the multiple security threats, the geo-political environment, the size of the territory, and per-capita expense, the Chinese defense expenditure is small by any yardstick," he added. He stressed that "China is gradually making progress in military transparency following the principles of trust, responsibility, security and equality". The annual Shangri-La Dialogue, named after the Singapore hotel at which the event has been held since its launch in 2002, and organized by the London-based International Institute for Strategic Studies, opened on Friday. It gathered defense ministers and top officials from 26 countries and regions in the Asia-Pacific region and Europe to address major regional security issues and defense cooperation. Also at the meeting, the US and China turned down the heat on a dispute over Beijing's military build-up, with US Defence Secretary Robert Gates expressing optimism about future relations. Gates downplayed past US rhetoric on China's military might. "As we gain experience in dealing with each other, relationships can be forged that will build trust over time," Gates said. China Daily - Agencies

The government of Macao Special Administrative Region (SAR) logged 3.962 billion patacas (around 495 million U.S. dollars) in total revenue in January 2008, up 37 percent year-on-year, the government said.     The latest statistics released by the SAR government showed that a major share of the total revenue for January 2008 came from direct gaming taxes, which saw an increase of 30.9 percent year-on-year to 3.09 billion patacas (386 million U.S. dollars).     Thanks to the booming gaming industry in the island city, which has seen the opening of its 28th casino by the end of 2007, Macao's gaming taxes grew by 48 percent over the previous year to 29.3 billion patacas (3.7 billion U.S. dollars) in 2007, leading to an overall surplus of 21.8 billion patacas (2.7 billion U.S. dollars) in public finance, according to official statistics.     In its latest research report released Friday, the Bank of China Macao Branch forecast that due to the dynamic development of gaming and tourism industries and ballooning fixed-asset investment in the city, Macao's GDP will keep a growth rate of 13 percent in 2008, which is lower than the 27 percent rate of the previous year.