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SINGAPORE, Oct. 10 (Xinhua) -- A Singapore start-up firm has devised an innovative application to allow phone users to have access to their positioning information within buildings, where traditional global positioning system has often proved inaccurate, local daily Business Times reported on Monday.The firm YFind Positioning System feels that the application can help turn Singapore into the world's first location- intelligent city.Ting See Ho, co-founder of the firm, said the application works by first verifying the GPS coordinates to identify the building the user is in, and then collecting RSSI (received signal strength information) readings off WiFi access points within the building.The information is then sent by the phone to the central positioning server for comparison against records of the radio map of the building, which is calibrated earlier by the company.Ting said the RSSI readings continually fluctuates, making it difficult to estimate a position. This is where YFind Positioning System steps in with its patent-pending probabilistic algorithms to help accurately estimated the user's indoor positions.Once the phone application determines the location, then, it is able to map a course for a shop or other destination within the building where the user wants to go."You can think of it as creating an 'indoor GPS' environment in the buildings where satellite signals cannot be read," Ting said.He said that more than ten organizations in Singapore have approached the company to discuss deployment and partnerships and that it has begun work on three proof-of-concepts.The company's immediate goal is to make Singapore the world's first location-intelligent city before going to other cities, he said.

BEIJING, Jan. 7 (Xinhua) -- China's financial system is running on a stable course despite the global financial crisis. However, apparent problems and potential risks still linger, as the crisis has not ended, Premier Wen Jiabao said.Wen made the remarks at the two-day National Financial Work Conference that concluded Saturday. The meeting, held every five years, mapped out development plans for the financial sector in the upcoming five years. Similar meetings were held in 1997, 2002 and 2007."China's economy has maintained stable and relatively fast growth with stabilized consumer prices and improvements in people's lives. The financial system is running steadily. The good momentum of economic and social development remains unchanged," Wen said.Chinese Premier Wen Jiabao ( front) attends the National Financial Work Conference in Beijing, Jan. 7, 2012."We have the confidence, capabilities and conditions to move economic development to a new stage," he said.China has resolutely pushed forward a series of financial reforms which have set significant historical milestones. Large commercial banks have remarkably improved their capabilities of guarding against risks, Wen said."We should especially note that the global financial crisis has not ended. We should strengthen our awareness of risks and responsibilities in order to push financial work to new levels," he said.In the future, China will stick to the principal of having the financial industry serve the real economy to prevent virtual bubbles from inflating the economy, he noted.Wen voiced his support for the development of financial innovation, but stressed that this should not escape supervision. "Risk-aversion should be the lifeline of our financial work," he said.He pledged to allow market forces a greater say in deciding fund allocation and to more clearly define the government's role.Financial oversight will be tightened and improved, and banks should establish a more complete and prudent supervision system, he said.According to a statement released after the meeting, China's assets in the financial industry totaled 119 trillion yuan (18.8 trillion U.S. dollars) at the end of November 2011, a 149-percent increase from that at the end of 2006.As of the end of September 2011, the banking capital adequacy ratio stood at 12.3 percent, 5 percentage points higher than that at the end of 2006, while the non-performing loan ratio was 0.9 percent, 6.2 percentage points lower than that at the end of 2006.

BEIJING, Jan. 5 (Xinhua) -- The U.S. Secretary of Treasury Timothy Geithner will visit China from Jan. 10 to 11 as a special representative of the U.S. President Barack Obama, Chinese Foreign Ministry spokesman Hong Lei announced on Thursday.Timothy Geithner's visit is at the invitation of Chinese Vice Premier Wang Qishan, said Hong.Chinese top leaders will meet with Timothy Geithner and exchange views with him on issues concerning Sino-US economical relations and the world's economic and financial situations, Hong said.

BEIJING, Dec. 4 (Xinhua) -- Chinese President Hu Jintao sent a message to Venezuelan President Hugo Chavez and Chilean President Sebastian Pinera on Friday to congratulate the founding of the Community of Latin American and Caribbean States (CELAC).In his message, Hu said that the establishment of CELAC is a major milestone in regional integration and that China appreciates the positive role of Latin American and Caribbean countries in international and regional affairs.China believes that the establishment of the community will make important contributions to unity and coordination in the region as well as joint efforts to counter global challenges, Hu said.China and Latin America are geographically apart, but their peoples enjoy traditional friendship, Hu said.In the 21st century, relations between China and Latin America have seen all-round and fast development with the expansion of mutually beneficial cooperation, Hu said.China has always treated its relations with Latin America from a strategic perspective and China is willing to work with CELAC and other countries in the region to build and develop a comprehensive cooperative partnership of mutual benefit and common development through the strengthening of dialogue, communication and cooperation, said Hu.The idea of CELAC was initiated in February 2010 at a regional summit in the Mexican resort of Cancun. The new grouping represents all countries in the Americas except Canada and the United States.

CAPE TOWN, Nov. 13 (Xinhua) -- The research vessel SA Agulhas has set off from Cape Town on a 10-day polar tour intended to promote dialogue on climate change, authorities confirmed on Sunday.The trip was designed to mark the 17th Climate Conference of the Parties (COP17) to be held in Durban later this month, according to the Department of Environmental Affairs.The voyage, which set off Saturday noon with scientists, academics, students and journalists aboard, would host exhibitions, symposiums and lectures from climate change scientists on the work of the polar research vessel, spokesman Zolile Nqayi said in a statement.The exhibitions and lectures would also highlight the various scientific activities undertaken by the department and its partners in Antarctica and the Southern Oceans, according to the South African Press Association (SAPA).Apart from her research and supply work, the Agulhus also helped to rescue the Magdalena Oldendorff, which became stuck in thick ice in June 2002.In December the SA Agulhas would make its final voyage to Antarctica before retirement.The Agulhas, which has been in service for 33 years, would be replaced by a new vessel under construction in Finland."She served us very well," said Dr Monde Mayekiso, deputy director general of oceans and coasts."The new vessel will have enhanced technologies and capabilities to further understand the ocean environment and to bring that understanding to an increasing number of South Africans, " he said.