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BEIJING, Aug. 13 (Xinhua) -- Chinese rating agency Dagong Global Credit Rating Co. on Saturday defended its AAA rating given to the Ministry of Railways, which has been under public fire over a train collision last month.The ministry received the long-term credit rating after launching on Monday its first bond sales since the crash on July 23 that killed 40 people near the Wenzhou city of eastern Zhejiang province.It sold 20 billion yuan worth of three-month bills on offer in the interbank market, with a yield of 5.55 percent, a relatively high rate for short-term government paper.The rating was assigned because of the ministry's status as a government agency backed by the central government revenue, its sufficient capital flows and strong financing ability, Dagong said in an email to Xinhua.The agency made the elaboration in response to market doubts as the ministry is already heavily indebted and the accident has stirred up skepticism about the its credibility and the safety of fast-expanding railways.Adding to doubts is that the AAA rating of the ministry is even a notch above China's local currency debt rating of AA+, which was also rated by Dagong.Government data showed the ministry's debts exceeded 2 trillion yuan (313 billion U.S. dollars) as of the end of June, raising its debt ratio to 58.53 percent, slightly up from the end of the first quarter of this year.Dagong said in the statement that the debt-to-asset ratio is medium level, lower than the alert line for the ministry which is 75 percent.The ministry has large-scale assets of good quality and relatively large room for fund-raising, Dagong said.The ministry has "extremely strong" repayment ability as it is backed by the state's credit, Dagong said, referring it as one of the three authorities that are allowed to issue bonds, along with the Ministry of Finance and the People's Bank of China.In July, the ministry issued 20 billion yuan of one-year commercial papers with a coupon rate of 5.18 percent, but only 18.73 billion yuan of the total was bought.Analysts said it has become more difficult for the ministry to borrow money because of tightened market liquidity and concerns over the ministry's debt burden.China's top four banks said at the end of last month that they will continue to offer loans to the ministry based on market conditions and risk appraisal. Credit from the four largest state-owned banks including the Industrial and Commercial Bank of China and the Construction Bank of China has been the major source funding the construction of China's fast-growing railways in recent years.

BEIJING, June 12 (Xinhua) -- A senior Chinese official has called the country's police to better serve the people when the Communist Party of China (CPC) is meeting the 90th founding anniversary.Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark on Sunday evening in meeting with top 10 favorite police officers selected through a nationwide vote.The Ministry of Public Security (MOPS) and the China Central Television have jointly conducted My Favorite Police Officer Competition in the past eight years.This year's winners include 75-year-old detective Wu Guoqing, network security police officer Li Qing from Jiangsu Province, traffic police officer Wu Hao of Miao Nationality from Hunan Province, female SWAT team leader Pan Qin from Guizhou Province.Zhou said that this year's competition attracted more than 150 million online voters which means more and more people are supporting the activity, and all winners should cherish the honor and better serve the people on their own posts.The official called on police officers around the country to learn from the 10 favarite officers and other winners in the competition who have all made outstanding contribution to the security of the people and society.

SAN FRANCISCO, July 29 (Xinhua) -- Apple has ousted Nokia as the world's largest smartphone maker as global mobile phone market grew more than 11.3 percent in the second quarter of 2011, according to two separate market research studies.After becoming the largest smartphone vendor in terms of revenue and profits, Apple has become the world's largest smartphone vendor by volume with 18.5 percent market share, said the latest research from Strategy Analytics released on Friday.The Cupertino, California-based company sold 20.3 million iPhones in the second quarter,up 142 percent compared with the same period a year earlier.Samsung's shipments of 19.2 million units grew a huge 520 percent year over year, accounting for 17.5 percent global smartphone market share in the second quarter of 2011.Apple and Samsung overtook long-time volume leader Nokia for the two spots. The Finnish mobile phone giant accounted for 15.2 percent of global smartphone market share in the last quarter, which is less than half of what it was just one year earlier.In the second quarter of 2010, Nokia was the No.1 smartphone maker by volume in the world with 38.1 percent of market share. The industry is now waiting Nokia's pending transition to Windows Phone 7.According to a separate report by International Data Corporation (IDC) released on Thursday, the worldwide mobile phone market grew by 11.3 percent year over year in the second quarter of 2011 despite a decline of the feature phone market for the first time in almost two years.The feature phone market was down by 4 percent in the last quarter, said the IDC Worldwide Mobile Phone Tracker report. It noted that the decline in shipments was mainly in economically mature regions, such as the United States, Japan and Western Europe, as users making rapid transition to smartphones.The shrinking feature phone market had a great impact on some of the world's largest suppliers of mobile phones, such as Nokia, which is losing share in the feature phone category to low-cost suppliers, said the report.For the overall market, global mobile phone vendors shipped 365. 4 million units in the second quarter, compared to 328.4 million units in the same period last year, with Nokia still holding the top spot with a market share of 24.2 percent, followed by Samsung, LG Electronics, Apple and ZTE.But the 11.3 percent growth was lower than IDC's forecast for the quarter and also below the 16.8 percent growth in the first quarter of 2011.IDC said the feature phone forecast isn't expected to be any rosier in the future and the shipment growth of feature phones won 't exceed 1.1 percent in the coming years.

BEIJING, June 10 (Xinhua) -- The nation's drug watchdog on Friday publicized a draft national standard of sulfur dioxide residue in Chinese herbal medicine, which is open for public opinion until Sept. 9 this year.The maximum amount of sulfur dioxide residue is 400 mg in one kg of each of 11 specified kinds of herbal medicine, such as Chinese yams, Gastrodia elata and Codonopsis pilosola, according to the draft standard unveiled by the State Food and Drug Administration (SFDA).The standard provides a 150-mg-per-kg limit for all other kinds of herbal medicine.Fumigation with sulfur is used as a way of drying some herbal medicine by growers, and currently have no alternative that is both cheap and convenient.The SFDA said it doesn't favor the drying herbal medicine through fumigation with sulfur and urges research efforts to invent new alternatives.According to the World Health Organization, the tolerable maximum amount of sulfur dioxide that a human body can take in one day is 0.7 mg per kg, which means that an adult of 60 kg should not take in more than 42 mg of sulfur dioxide a day.Long-term exposure to high amounts of sulfur dioxide can cause damage to human body, especially the respiratory system, according to experts. 

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