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BEIJING, March 11 (Xinhua) -- The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.The BOC, China's third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The BOC currently had no acquisition plans in China or overseas, Xiao said.The biggest credit risks lied in the local governments' financing units and the BOC was tightening loans to these units, he said.

HANGZHOU, Feb. 13 (Xinhua) -- Days before its 4,000 employees, mostly migrants, started off upon their annual trips home for the Chinese Lunar New Year, Tiansheng Group, a textile company in the eastern Zhejiang Province, promised pay rises hoping workers would all come back after the holiday."We are expecting a severe shortage of skilled workers this year," said Wei Guoliang, president of the company's trade union. "We'll be short of at least 1,000 workers in Spring."Lu Laofa (R), a 40-year-old migrant worker from southwest China's Guizhou Province, and his children make a free phone call with their relatives at the railway station of Hangzhou, capital of east China's Zhejiang Province, Jan. 31, 2010Located in Shaoxing County, Asia's biggest textile base, Tiansheng Group relies mostly on migrant workers from Anhui, Henan and Sichuan provinces for production.Fearing it might lose some of its best employees, the company's management offered an average 15-percent pay rise for all workers, plus higher meal allowances and better medical insurance starting on March 1.The offer was printed out and posted at the company's main entrance to catch the workers' attention."We don't know if it will work," said Wei. "But we do hope the workers will come back after the Spring Festival."Two farmer migrant workers who returned home for the Spring Festival take part in a lathe-hand technical training at Juye County, east China's Shandong Province, Feb. 5, 2010.While the Spring Festival falls Sunday, most migrants would stay home for about two weeks for the most important Chinese holiday.For years, migrant workers are the mainstay of labor forces in China's leading manufacturing bases in the Shanghai-centered Yangtze River Delta and the Guangzhou-centered Pearl River Delta.Yiwu City in Zhejiang Province, known for its small commodities including the world's biggest supply of toys and Christmas gifts, is also feeling the pinch of worker scarcity.After a recruitment tour to underdeveloped western provinces of Guizhou, Shaanxi and Yunnan last year, Huang Yunlong, head of the city's labor management bureau, said the situation would be tough for local employers this year.Migrant workers gesture on their chartered flight at the airport in Hangzhou, capital of east China's Zhejiang Province, Feb. 4, 2010In a recent survey in Lishui, a manufacturing town close to Yiwu, 4,000 of the 6,000 migrants who were heading home for the new year said they would stay in their hometowns for jobs or do farmwork after the holiday.Hoping to ease the labor shortage, Red Leaf Umbrella Co. encourages its employees to introduce new workers and offers a 600 yuan cash reward for each new recruit."The worker shortage is a result of the fast economic recovery, as well as the new policies by central and local governments to stimulate growth in the central and western regions," said Zhuo Yongliang, a researcher with Zhejiang Provincial Institute of Development and Reform.Amid the economic recovery, a Yiwu-based restaurant consumes 600 packs of wet tissues a day, as against 400 packs during the international financial crisis last year."The worker shortage, as well as the heavier workload for individual employees, have forced employers to offer better pays and compensation packages -- it's a good thing to this end," said Prof. Wu Jinliang with the Zhejiang Provincial Party School. "But it also eats way the competitive edge of thousands of small businesses that used to rely on cheap labor."Besides the worker scarcity, many entrepreneurs are also worrying about the skills and overall quality of their employees.Zhou Xiaoguang, president of a Yiwu-based decoration firm, remembers the dainty products he saw at an exposition in Europe. "Why can't we produce stuff like that? We can spend heavily to buy better equipment and hire better designers, but we don't have high-caliber workers at our production lines."Langsha Group, China's leading producer of socks and stockings, dropped a procurement plan last year for an Italian-made automatic packing machine that could spare the manual work of 30 workers and improve quality."No one is able to run the machine or fix it if it breaks down," said the group's president Weng Rongdi. "Our lack of training for the workers is a big problem.""Like all other Chinese manufacturing companies, we need high-caliber workers if we want to make further breakthroughs," he said.

BEIJING, Feb. 28 (Xinhua) -- The Chinese government pledges to improve the quality of education and enable people to enjoy fairer education through more investment and reforms in the coming decade.The draft of the National Outline for Medium and Long-term Education Reform and Development (2010-2020) was published Sunday for public opinions.The amount of government investment on education annually will increase to 4 percent of the country's total GDP by 2012, according to the outline. The proportion was 3.48 percent of its GDP in 2008.Ding Xuedong, vice minister of finance, indicated on Sunday that the four-percent target was ambitious but also challenging because other sectors such as agriculture, science and technology, health care and social security need investment, too.

BEIJING, Feb. 9 (Xinhua) -- Chinese Premier Wen Jiabao Tuesday invited more talented foreigners to work in China, saying the country will improve services for them. Wen made the remarks at a meeting with more than 20 representatives of foreign experts, who have helped in China's social progress.Wen said China pays equal attention to attracting both investment and talented personnel, while utilizing science and technology to achieve sustainable development. Chinese Premier Wen Jiabao (L) shakes hands with a foreign expert at a meeting with more than 20 representatives of foreign experts, who have helped in China's social progress, in Beijing, capital of China, Feb. 9, 2010This calls for an active flow of talented foreigners to China to help with the nation's modernization drive, the premier said.He urged related organs to improve policy and service level for all the foreign experts coming to work in China. Chinese Premier Wen Jiabao (R) meets with more than 20 representatives of foreign experts, who have helped in China's social progress, in Beijing, capital of China, Feb. 9, 2010Isabel Crook, a 95-year-old Canadian expert in English teaching, gave her views on the key role that can be played by strong, vibrant rural communities.She suggested the government reevaluate the current practice of closing primary schools in small villages and concentrating them in larger villages.Other representatives of talented foreigners working in China, including Daniel Jospeh Dudek, a U.S. expert in environmental protection area, and Jean Dorey, a French expert in the education sector, offered suggestions to the Chinese government for tackling environmental challenges and boosting cooperation in the education sector.Wen listened attentively to their remarks and exchanged views.Wen also extended festival greetings to all foreign experts and international friends working in China, as well as to their families. He expressed gratitude for their contributions to China's development.

BEIJING, Feb. 24 (Xinhua) -- Chinese lawmakers Wednesday called for improving the country's food safety supervision network after a nationwide law enforcement inspection tour.National lawmakers started the inspection tour last September after the Food Safety Law took effect last June.Lu Yongxiang, vice chairman of the National People's Congress (NPC) Standing Committee, told lawmakers that many regions had not completed reform of the food safety supervision mechanism.Most of the cities and counties had not started the reform yet, Lu said at a three-day bimonthly session of the top legislature that started Wednesday, when presenting a report of the inspection tour.He called for stronger coordination led by health departments.The report suggested establishing a national food safety risk assessment center and a food safety standard management system.Earlier this month, the State Council set up a food safety commission consisting of three vice premiers and a dozen minister-level officials.The lineup of the commission's members includes Vice Premiers Li Keqiang, Hui Liangyu and Wang Qishan, as well as more than ten heads or vice heads of government departments in charge of health, finance, and agriculture among other portfolios.The establishment of the commission followed a string of nationwide crackdowns and arrests in the wake of new melamine-tainted milk products being found in Shanghai as well as Liaoning, Shandong and Shaanxi in recent months.