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MOSCOW, Jan. 21 (Xinhua) -- Russian and Chinese companies started construction of an iron ore dressing plant Friday in the Evreyskaya Autonomous Oblast to provide high-grade iron ore to the Asia Pacific region, including China.Yury Makarov, chief executive officer of IRC Ltd., told Xinhua the plant would reach its designed capacity in 2013 at 10 million tons of iron ore and 3.2 million tons of iron ore concentrates, which contain up to 65 percent iron.Makarov said that 20 percent of the iron ore concentrates, which are natural iron ore processed through crushing, grinding and dressing, would be used to meet demands of Russia's far east and the rest would go to the Asia-Pacific market. Currently, China imports large amounts of concentrates from Brazil, Australia and India."We are very open to interaction with various countries of the Asia-Pacific region, especially China. The volume of processed iron ore has been increasing every year. We will be happy to deliver iron ore to your companies as well as any other consumers who are willing to purchase our products," he said.The plant will draw its resources from the Kimkanskoye and Sutarskoye deposits and send its products through the Khabarovsk Krai and the Suifenhe port to China.The plant is only 7 km from the Trans-Siberian Railway. A railway bridge is being planned between Evreyskaya Oblast and Heilongjiang to further shorten the supply route.Total investment in the plant is 400 million U.S. dollars, with 340 million in loans from the ICBC (Industrial and Commercial Bank of China) in China. Interest under the facility will be charged at 2.8 percent above LIBOR per annum. The China National Electric Engineering Co, Ltd is tasked with the construction of the plant.Makarov said he was very optimistic about the future of the plant and the development of relations between the Russia's far east and China's northeastern region.IRC Ltd. is a metal unit of Russian gold miner Petropavlovsk PLC. It became the second Russian company to be listed on the HK stock exchange, when it started trading on Oct. 21.
KUALA LUMPUR, Feb. 3 (Xinhua) -- Malaysian Prime Minister Najib Razak wishes all Chinese in the world a happy Chinese New Year on Thursday in an exclusive interview with Xinhua News Agency at his official residence in Federal Administrative Center Putrajaya."I would like to wish all Chinese in the world, wherever they are at any part of the world, a very happy Chinese New Year through Xinhua News Agency,"Najib said. "I hope that this new lunar calendar year, the year of the Rabbit will bring much prosperity and will be a successful and productive year."Najib also noted the 36-year-old special ties between Malaysia and China - a relationship which was first established by his father Abdul Razak, the second prime minister of Malaysia.He stressed that Malaysia is determined to forge closer diplomatic relations with China in years ahead."The relationship between Malaysia and China is a very warm and strong relationship that was established way back in 1974, we were the first Southeast Asian to have established diplomatic relations with China," Najib said."Ever since that historic occasion, the relationship between the tow countries has developed from strength to strength and leaps and bounds and today it's the most important relationship that we have," Najib said. "I hope this relationship will bring much benefit to both Malaysia and China, I wish it can be developed further and strengthen and deepen this important relationship."The prime minister had his Thursday occupied, attending numerous Spring Festival Open House, including the one held by the Malaysian Chinese Association (MCA) - the largest party that represents the ethnic Chinese in the country's ruling coalition.Thousands attended the open house event at the party's headquarters, many of whom were tourists.Malaysian leaders, ambassadors and attaches from foreign embassies were among the invited guests at the event.The Open House is a Malaysian tradition during celebrations where people open their doors to welcome guests and even strangers into their homes.He then held a live teleconference with Malaysians residing in seven cities in the world, including Guangzhou, China, and sent his greetings.About 26 percent of Malaysia's 27 million population are ethnic Chinese.
BEIJING, Feb. 15 (Xinhua) -- A senior Chinese mainland official has said the government will work with Taiwan to enhance cross-Strait economic exchanges and cooperation.The mainland would this year focus on fulfilling the cross-Strait Economic Cooperation Framework Agreement (ECFA) and conducting follow-up negotiations on the pact, which took effect in September last year, Xu Mang, director of the economy bureau of the Taiwan Affairs Office of the State Council, told Xinhua in an interview.Top of the follow-up agenda was cross-Strait investment protection. The mainland hoped to reach a mutually beneficial agreement on the issue with Taiwan at an early date, with concerns of both sides respected, Xu said.Xu said the two sides should adhere to the principle of balance in negotiations, aiming for effective protection, fewer restrictions and more convenience for cross-Strait investment.Mainland and Taiwan negotiators agreed in December last year to continue discussing the investment protection agreement at the seventh round of talks scheduled for this year.The mainland would also continue this year to encourage investment in Taiwan, address Taiwan enterprises' concerns over economic transformation and development, and promote cross-Strait cooperation in finance, modern services and agriculture, Xu said.The first step in implementing the ECFA, the "early harvest program," took effect on Jan. 1, when the mainland reduced tariffs on 539 Taiwanese items, or 16 percent of imports from Taiwan, while Taiwan cut duties on 267 mainland items, 10 percent of imports from the mainland.Within two years, the duties on those products will be reduced to zero.Xu said the implementation of the early harvest program would boost trade links across the Strait.As the products receiving tariff reductions covered industries including agriculture, petrochemicals, machinery, textiles and transport, Taiwan businesses on the mainland would benefit from lower purchase costs on Taiwan raw materials, Xu said.Taiwan's small and medium-sized enterprises and low-income groups would especially benefit from the tariff reductions on exports of 18 agricultural products to the mainland, Xu said.Statistics from Taiwan showed that driven by the tariff reduction, the island's small and medium-sized enterprise export trade volume to the mainland would increase to 18 billion U.S. dollars per year."The tariff reduction policy will benefit more Taiwan compatriots," Xu said.Cross-Strait trade volume totaled 145.37 billion U.S. dollars last year, a rise of 36.9 percent year on year. The figure included 115.69 billion U.S. dollars of Taiwan exports to the mainland, up 20.2 percent.
BEIJING, May 24 (Xinhuanet) -- CT scan, a widely used heart-imaging test, is likely to result in the over treatment for patients with heart disease, according to a study published online by the Archives of Internal Medicine on Monday.CT, which produces a detailed image of the heart that reveals cholesterol buildups in the coronary arteries, is widely used in the hospital around the world."Testing might lead to more harm than good," said McEvoy, a doctor at Seoul National University Bundang Hospital in S. Korea.His team led the study, in which 2,000 healthy adults were divided into two groups. One thousand adults had CT scans and another half had standard tests, including routine checks of their blood pressure and cholesterol levels.After 18 months, the 215 people who had worrisome CT scans were advised to have additional tests and medical treatment, and some even advised to have surgery. But less than 10 percent in the group of standard test were reported to need medications.Therefore, physicians cannot easily ignore the diagnoses made by the new imaging techniques, McEvoy said, "We are left with the dilemma of what to do with the results,"According to McEvoy, doctors should focus on patients' lifestyle and traditional risk factors such as smoking and obesity.