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Shanghai - The Shanghai World Financial Center, the highest building on the mainland, was topped out on Friday.The Shanghai World Financial Center on the way up, at different stages of construction. The 101-story building, the highest on the mainland, was topped out on Friday. Niu Yixin"The 101-floor office tower is expected to be completely finished in the spring of 2008," said Sun Wenjie, general manager of China State Construction Engineering Corp.The Shanghai skyscraper is located in the prime Lujiazui zone in Pudong on a 30,000-sq-m site.With an overall construction area of 381,600sqm, the Shanghai World Financial Center will be one of the tallest buildings in the world at 492 meters. That's 70 meters higher than Jinmao Tower, formerly the highest on the Chinese mainland.Japan's Mori Building Co and 40 other foreign companies will invest a total of 8 billion yuan in the development."As the economy warms up, we are more confident about Shanghai and the whole of China," said Hiroo Mori, president of the Shanghai World Financial Center Co, a subsidiary of Mori Building Co Ltd.The building is expected to become home to high-profile international businesses, department stores, art galleries, clubs and a five-star hotel."As China's economy roars ahead, more capital and businesses are expected to flow into the country, especially to Shanghai. The city aims to become a world center for trade and finance - with Lujiazui as its showpiece," said Mori.Lujiazui will have three tall buildings, one of which is the completed Jinmao Tower, each rising above 400 meters. The buildings were planned by local government after an international design competition in the early 1990s.The Shanghai World Financial Center will be the "mountain peak" of the city's skyline, with neighboring buildings descending in height on either side.Mori said the design and technology used in the construction of the building should allay any safety fears.Beams will be used to connect the outer supports and the internal elevator area instead of bolts, as were used in the World Trade Center in New York City."We will use welding to fasten the frame and the triangular construction will enhance its stability," Mori said.Construction of the building began in 1997, but was stopped shortly after because of financial problems brought about by the Asian financial crisis. Building work resumed in 2003.

SHIJIAZHUANG - A joint investigation team of China and Japan to the Tianyang Food company has not detected abnormity after a half-day inspection tour in the plant, both Japanese and Chinese investigators said here early Wednesday morning."The plant is very clean and well managed, and no abnormity has been detected," a Japanese investigator told the press. Japan will conduct further analysis based on information and data collected in the plant, he said.Wang Daning, director of the department of food import and export safety under the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), said that China and Japan have been cooperating well with each other, and the Chinese side has been letting Japanese investigators see related materials and equipments as many as possible.So far, Japanese police have confirmed that at least 10 people fell sick after eating dumplings laced with the highly toxic organophosphate pesticide called methamidophos made by Tianyang Food.Both governments of China and Japan have been struggling to find what actually had happened. A Japanese investigation team came to China and held talks with China Tuesday morning, then to Tianyang Food in Shijiazhuang in the afternoon and worked till 1 a.m. the next morning.

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.

BEIJING - Zhang Bing grew up in remote Inner Mongolia, where his family herded sheep and raised chickens. Today he's a manager in a glittering karaoke club 1,000 kilometers (600 miles) away in a booming eastern Chinese city. Zhang, 26, is part of a huge wave of rural workers streaming into China's cities in search of work and opportunity. A UN report released Wednesday said more than half of China's population - now 1.3 billion people - will be living in urban areas within 10 years. Government officials say an estimated 150 million people moved to China's cities between 1999 and 2005, providing labor to fuel the country's breakneck economic growth. "From 1980 to 2030, the population of China will go from being 20 percent urban to almost two-thirds urban. We're in the middle of that transformation. Within the next 10 years we'll cross that halfway mark," said William Ryan, the United Nations Population Fund's information adviser for Asia and the Pacific region. The agency's State of World Population 2007 report says more than half the world's population will live in cities and towns in 2008, with the number expected to grow to 60 percent, or 5 billion people, by 2030. Asia is at the forefront of this demographic shift, expected to nearly double its urban population between 2000 and 2030, from 1.4 billion to 2.6 billion. Zhang moved to Tianjin after high school and earns about US0 (euro370) a month at the Oriental Pearl karaoke club. He saves two-thirds, and is thinking of opening a store to sell knockoff purses. He said he expects to have a wife, house and car - "an Audi, definitely" - within 10 years. Like 80 percent of migrant workers in China, Zhang is under 35 and works in the service industry, which along with construction and manufacturing employs most migrant workers. But his story, told in the UNFPA's youth supplement, is atypical. Although most workers have only a middle school education, Zhang finished high school and attended business school in Tianjin. His salary is much higher than the average worker's 500 to 800 yuan (US to 5; euro48 to euro78) a month, according to Duan Chengrong, a demographics professor at Renmin University. In comparison, a typical Beijing urbanite makes about 2,000 yuan (US0; euro193) a month. Migrant workers generally cram themselves into rented housing on the outskirts of town, with an average of five square meters (50 square feet) of living space per person and no heat, running water or sanitation facilities, Duan said. At many construction sites, the workers lodge in ramshackle dormitories, or even in tents pitched on a nearby sidewalk. China's government has taken measures to "avoid the emergence of urban slums and the transformation of rural poor to urban poor," said Hou Yan, deputy director of the social development department in China's Development and Reform Commission. She mentioned programs such as establishing a minimum living standard, providing medical and educational assistance, and supplying affordable housing and basic public services. Hou did not give details of the programs. China's urbanization is unique in that it stems largely from migration instead of natural population growth. The Communist government that took control in 1949 imposed residency rules as part of strict controls on where people could live, work or even whom they could marry. It was not until recent years that rising wealth and greater personal freedoms eroded the system, allowing farmers to move to cities. The UNFPA estimates that, in less than a decade, China will have 83 cities of more than 750,000 people. Zhang, who spoke at the news conference where the UNFPA report was released, believes cities are the future of China. Before taking the job at the karaoke club, he made money teaching Chinese to foreign students, selling phone cards and running a copy shop. "In order to get employed, what is most important is to be diligent," he said. "Only when you work hard can you get good results."