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DONGXIANG, Jiangxi, May 23 (Xinhua) -- At least three people were killed in east China's Jiangxi Province when a passenger train derailed after being hit by landslides at Sunday dawn, railway authorities said.The train, bound for the tourist city of Guilin in south China's Guangxi Zhuang Autonomous Region from Shanghai, derailed at around 2:10 a.m. in Dongxiang county, Fuzhou city in Jiangxi, the Ministry of Railways said in a press release. At least ten passengers were injured.Xinhua reporters who rushed to the scene saw the locomotive, plus eight of the 17 carriages of the train -- coded K859 -- derailed and some even overturned in the mountainous area of Jiangxi. One carriage was twisted and crushed on the other. Rescuers work at the site where a passenger train derailed in Dongxiang County, east China's Jiangxi Province, May 23, 2010. At least three people were killed, 10 more injured in Dongxiang when a passenger train derailed after being hit by landslides at Sunday dawn, authorities said"Each of the train carriages has 118 seats. It is not yet immediately known how many passengers were on board," said a police officer surnamed Luo, who was from the Railway Bureau in Nanchang, Jiangxi provincial capital.He said the bureau has called for all of its four legal medical experts to the accident site to help identify the dead."We are afraid the casualty may soon rise, as four of the derailed train cars were severely deformed in the accident," he said.Xinhua reporters saw rescuers using cutting equipment to open an entrance in order to get into one of the derailed carriage. A locomotive has arrived to help pull up the carriages.A rescue official surnamed Yu said hundreds of armed police, firemen and soldiers are trying to rescue those who remained trapped inside the train.More than a dozen ambulances were parked along the tracks.Rescuers told Xinhua at least 20 injured passengers were saved. Four in serious conditions were rushed to hospital.Trains on the Shanghai-Kunming railway were halted after the accident.Minister of Railways Liu Zhijun has ordered all-out efforts to save lives, to restore the railway transport and to launch a thorough investigation of the cause of the accident. [ Governor of Jiangxi Wu Xinxiong arrived at Dongxiang early Sunday morning to direct the rescue operations.Most parts of Jiangxi, along with neighboring provinces, were drenched by heavy rains in the past few days. Farms were destroyed, low-lying villages and towns flooded, and at least four reservoirs were forced to release fast-rising water.Local authorities said around 1.46 million residents were affected, with 44,600 being evacuated out of dangerous zones.In parts of south China, rainstorms since early May have triggered floods and mud-rock flows, swollen rivers, burst dikes, threatened reservoirs and damaged highways, bridges and power facilities.
BEIJING, May 3 -- Ma Weihua, president and chief executive officer of China Merchants Bank (CMB), said he wanted to see Chinese banks elevate their level of globalization in the context of expedited overseas expansion of Chinese companies during his bank's recent road show in the United States. He said CMB would pursue this process ambitiously but cautiously.The bank is soon to relocate its night-shift foreign exchange trading team to its New York branch, which was established in 2008, and will move on to security trading as well in the future, according to Ma during a group interview. The branch is also working on consolidating its dollar settlement business."What I'm concerned about right now is to first have my New York branch familiarized with the US market, customers and rules as soon as possible so I can expand the business steadily," Ma told the audience at a recent speech at New York University's Leonard N. Stern School of Business. "We won't consider faster expansion until we have secured our position here."Because of policy restrictions, CMB and other Chinese banks are only able to provide very limited services overseas for now. Retail banking, which CMB is best at, is still being constrained in its New York branch, its first branch in the West. But the bank is eyeing up other opportunities.The branch is attaching increasing importance to the loan business for Chinese companies during their overseas merger and acquisition activities. It just completed a big deal for a Chinese State-owned conglomerate but declined to reveal its name."The most fundamental motive to globalize our bank is to support Chinese companies' overseas growth and to provide the same quality service for foreign companies as well when they come to China," Ma said.According to Ma, over the past five years, Chinese companies' overseas direct investment saw an annual increase of 60 percent and their non-financial overseas investment grew by 68.5 percent year-on-year.In comparison, overseas assets only make up less than 4 percent of Chinese banks' total assets, while in large banks in Europe and the US, the proportion is about 40 percent, he said.

BEIJING, April 28 (Xinhua) -- Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan (101.2 billion U.S. dollars) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday.The NBS did not provide reasons for the 102.6-percent profit surge. The figure was down 21.1 percentage points for the first two months of the year, the statement said.Analysts attributed the growth to a low comparison base during the first quarter of 2009 when the country's economic growth was dragged down by the global economic downturn. The economic recovery, backed by government stimulus measures, also helped lift profits.The People's Bank of China, the central bank, said in a statement last week that industrial production in the first quarter had accelerated and profits of enterprises continued to expand on growing domestic demand.Altogether 38 of the 39 major industrial sectors saw year-on-year growth in profits, with profits of the steel industry up 3,380 percent and those of the power sector up 1,540 percent, the statement said.
PARIS, May 11 (Xinhua) -- The efforts made by China on its course of development has made it a successful example for other emerging countries, the UN Educational, Scientific and Cultural Organization's chief said to Xinhua in an exclusive interview here on Tuesday, four days before her trip to China and the Shanghai Expo.The UNESCO Director General Irina Bokova will pay a working visit to Shanghai and Beijing from May 16, during which she will have a two-day stop for the Shanghai Expo, which has opened doors to the public on May 1."We've seen the efforts of China, which are spectacular in all areas of development ... it also shows that with political will, with the efforts of an entire people to focus on development, it is possible to overcome certain difficulties," she said.She praised China's "very impressive" development and said China should also share its experience with other developing countries because it "is a good example that can bring millions of people out of poverty by adapting to a globalized world."Additionally, she encouraged China to engage more into UNESCO affairs in Africa and in Asia on educational domain.As to the Shanghai Expo, the UNESCO has set up its own pavilion at the Expo site and Bokova herself has personally planned diversified activities, lectures and conversations at the pavilion to provide platforms for idea exchanges with Chinese people and foreign visitors, the veteran diplomat told Xinhua.The Shanghai World Expo "gives an opportunity for all countries and all organizations to make a sort of communication on their values and their activities," she said, seeing it "a great event for China and for the entire international community."Bokova is expected to launch a UN report on cultural diversity at the UNESCO pavilion, which is specially designed to focus on material and immaterial cultural heritages, education issues and scientific topics including climate change, water management and etc.She spoke highly of the great effort made by the Chinese authorities to organize the World Expo in Shanghai."I know that the 'motto' of this exhibition is about urban ( Better City, Better Life). We already know that 60 percent of the world population live in cities, the figure rises almost all the time. Some projections say that in fifty years there will be 80 percent of the world population live in cities," she indicated.According to the director general, the UNESCO is seeking answers through its experiences to some difficult issues that are associated with globalization and interconnectability of the world in the fields of culture, science and especially the education.She underlined that education and personnel training was the key factor to make a nation "competitive" and have "sustainable development."At last, the UNESCO chief issued a friendly message to China and Chinese people, saying China is a very old nation "with ancient roots very deep into all the culture of humans" and it meanwhile "shows the dynamism and creativity, which are examples for all the world.""I think China has proved that there are no limits, there is no problem that can not be overcome," she concluded.
BEIJING, May 21 (Xinhua) -- The U.S. commerce chief Friday said the United States would complete its review of the exports control system this summer, without specifying the possibly relaxed controls against exports to China."With respect to our export control reform, we want to have that done by this summer," U.S. Commerce Secretary Gary Locke told reporters during his trade mission to China Friday.Locke is leading a delegation of business executives from American clean energy companies looking to China's fast growing green energy market, the size of which the United States has predicted will be 100 billion U.S. dollars by 2020."We have restrictions on items already readily available from companies around the rest of the world and our restrictions make no sense," Locke said.The United States' 1979 Export Administration Act limits the export sales of some commercial high-technology goods to China.The exports control system, operated by the U.S. Defense Department and the Commerce Department, is widely seen as a major cause for the trade imbalance between China and the United States.U.S. products accounted for 7.5 percent of China's high technology imports last year, down from 18.3 percent in 2001 partly due to the U.S. exports control system, according to China's Commerce Ministry."If the share in 2001 is used as a benchmark, U.S. companies lost at least 33 billion U.S. dollars worth of export opportunities in 2009," Commerce Minister Chen Deming said in March.In a meeting with Locke Thursday, Chinese Deputy Commerce Minister Ma Xiuhong said China-U.S. cooperation would be impaired unless the United States takes substantive measures to ease its restrictions on exports to China.Locke didn't specify which exports are likely to be available to China,citing U.S. national security as the major factor to be considered when reviewing the export control system.Locke stressed restrictions will be eased on some commonly available high-tech goods and strengthened on sensitive technologies with military uses."We need to intensify and increase our protection on some very super-sensitive technologies to make sure that they don't get in the hands of those who want to do America ... harm, especially terrorist organizations," he said."Some of it can be implemented almost immediately while some can be done in a matter of months once there is agreement within the administration on the review," Locke said in response to Xinhua's question on when the new export control system will be in operation.
来源:资阳报