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BEIJING, March 10 -- Tianjin's mayor assured investors Sunday that the city's pilot program, allowing mainlanders to invest in Hong Kong-listed shares, is on track.     "There's a lot of preparation involved. Risk assessment and research is under way to open the door for mainlanders to invest in the Hong Kong stock market," Huang Xingguo, mayor of Tianjin, said Sunday.     "The project's going smoothly, but timing depends on central government approval. I can assure you that Tianjin's status as a pilot city (for financial reform) will not change," he said.     The scheme is in line with the nation's economic development and investor demand and will be an effective way to bring in conversion of the renminbi via capital accounts, Guo Qingping, chief of Bank of China's (BOC) Tianjin branch, said on the sidelines of yesterday's NPC session.     But authorities are cautious about rushing the program through, due to its complexity and risk.     "One risk is hot money flowing into and out of the mainland," Guo said.     BOC was originally expected to be the only financial institution providing the program, but Guo said the details are still being ironed out.     The trial scheme was announced in August last year as a way to diversify mainland investor channels. But it's been put on hold amid the unfolding US subprime crisis and global stock market uncertainty.     Preparation for the program includes payment systems, renminbi conversion, regulation changes as well as extensive risk assessment, Huang said.     Liu Mingkang, chairman of the China Banking Regulatory Commission, told China Daily earlier that no timetable has been set for the pilot scheme, which will allow mainlanders to invest directly in Hong Kong-listed shares. The regulator stressed that more research into the system is needed.     Meanwhile, a timetable is not yet available for Tianjin's new offshore financial center, which is also subject to further research, according to Guo from BOC.

BEIJING - China's currency, the yuan, hit a new high against the US dollar on Thursday, following an overnight key interest rate cut in the United States.The yuan, also known as the renminbi, went up 145 basis points from the previous day to a central parity rate of 7.1853 yuan to one dollar, breaking the 7.19 mark.The Federal Reserve on Wednesday cut US interest rates by a bold half-percentage point as part of its efforts to shore up economic growth.The move came just eight days after the US central bank slashed rates by three quarters of a percentage point, leading the dollar to weaken against other major world currencies.The Chinese currency had appreciated against the greenback by about 12 percent since a new currency regime was imposed in July 2005 to revalue and de-peg it from the dollar.It had climbed 6.9 percent against the dollar in the past year, but some US critics say it remains undervalued, giving Chinese exporters an unfair advantage and resulting in the massive trade imbalance between the two countries.China was not against revaluation of the yuan, but opposed "excessively rapid" appreciation that was inappropriate to its national conditions, Commerce Minister Chen Deming said last month.Premier Wen Jiabao also said China would improve the yuan's exchange rate mechanism in a controllable and gradual manner, let the market play a bigger role in the mechanism and enhance the currency's flexibility.

China has delivered the first shipment of 50,000 tons of heavy oil aid it had pledged to the Democratic People's Republic of Korea (DPRK) and the rest is being sourced, said Chinese foreign ministry spokeswoman Jiang Yu on Tuesday.The first shipment of heavy fuel oil from China arrived in the Nampo port of DPRK on September 16, said Jiang at a regular press conference.The DPRK, under a joint document issued at the six-party talks on February 13, should declare all nuclear programs and disable all existing nuclear facilities in exchange for a total of 1 million tons of heavy fuel oil or equivalent aid, with the initial shipment of 50,000 tons.The Republic of Korea (ROK) delivered 6,200 tons on July 15, sooner after which the DPRK announced its shutdown of the Yongbyon reactor, a widely regarded substantial step, after a 10-member team of U.N. inspectors arrived in the capital Pyongyang to verify and monitor the reactor sealing.Top negotiators to the six party talks from host China, the DPRK, United States, the ROK, Russia and Japan, agreed in July to provide the DPRK with economic, energy and humanitarian assistance up to the equivalent of 950,000 tons of heavy fuel oil.Envoys also agreed to meet here in early September to compile a road map for implementing the second phase of DPRK's denuclearization process which is to declare all of its nuclear programs and disable all of its existing nuclear facilities."We consider it necessary for the six parties to reconvene at a proper time. Date for next-phase nuclear talks should be decided by all parties concerned," Jiang said."China is consulting with the relevant parties on the dates for the next phase of six party talks," Jiang added.The DPRK Vice Foreign Minister in charge of Chinese and Asian affairs Kim Yong Il reportedly arrived in Beijing on Tuesday morning.In response to a request to confirm the DPRK vice foreign minister's China visit, Jiang said Kim's visit was "according to exchange plans between Chinese and the DPRK foreign ministries".Chinese foreign minister Yang Jiechi and his deputy Wu Dawei will meet him. Beside Beijing Kim will also visit other Chinese cities, Jiang said.

Chairman of the US Joint Chiefs of Staff Marine Gen. Peter Pace inspects the guard of honor during a welcome ceremony at the Defence Ministry in Beijing March 22, 2007. [Reuters]"Clearly, both the United States and China have enormous military capacity, but equally clearly neither country has the intent to go to war with the other. So absent of intent, I don't find threat," General Peter Pace, chairman of the Joint Chiefs of Staff said. "We should not focus on how to fight each other but how to prevent military action. That is what my government is focused on, and that is what my Chinese counterparts here have said their government is focused on." Pace arrived in Beijing Thursday for a four-visit which as he said is aimed at boosting military ties Pace said he had discussed the sensitive topic of Taiwan with the Vice Chairman of the Central Military Commission, Guo Boxiong, Defence Minister Cao Gangchuan and Foreign Minister Li Zhaoxing. "It is not surprising that in each of the meetings, the issue of Taiwan came up. It is clearly a fundamental issue with China," he said. Asked about the possibility of a conflict over Taiwan, he said: "I believe there are good faith efforts among all the leadership to prevent that." Pace said he had repeated US President George W. Bush's position that the US leader "would not support Taiwan independence" and that Washington wanted the issue to be handled peacefully. Pace's visit follows a US announcement last month that it plans to provide over 400 missiles to Taiwan.China's military is proposing officer exchanges and other confidence-building measures with the US Army and may be inching closer to setting up a "hotline" for emergency communication with Washington, according to Pace. Pace said he immediately agreed to study the proposals put forward Friday by Gen. Liang Guanglie, chief of the PLA's General Staff Department. "To me this was a very good, open discussion and one that I found very encouraging," Pace told reporters in Beijing. Liang's proposals included sending Chinese cadets to the Army academy at West Point as well as participating in joint exercises and humanitarian and relief-at-sea operations "that might be able to build trust and confidence amongst our forces." Military exchanges were largely suspended following a collision between a US spy plane and a Chinese jet fighter over the South China Sea in 2001.  Pace said the sides agreed to keep discussing setting up a "hotline" between either military or civilian leaders that would help ease any future friction. "The Chinese military understands as well as I do that the opportunity to pick up the phone and talk to somebody you know and smooth out misunderstandings quickly is a very important part of relations between two countries," Pace said.

Chinese Premier Wen Jiabao shares a light moment with children orphaned due to the death of their parents from AIDS in Shangcai County, Central China's Henan Province Novermber 30, a day before the 20th World AIDS Day which fell on Saturday. [Xinhua] ZHENGZHOU -- Chinese Premier Wen Jiabao paid his second visit to China's worst AIDS-hit villages in Henan Province, a day before the 20th World AIDS Day. It was Wen's fifth face-to-face talks with AIDS patients or their family members since 2003."What's your name?""Zhang Shuwan.""Do you remember how your parents were dying?""No, I don't."This was a dialog between the visiting Premier and Zhang Shuwan, a 10-year-old girl, whose parents died of AIDS seven years ago, at the Chinese Red Ribbon Home, an orphanage at the Wangying Village of Lugang Township in Shangcai County on Friday morning.Wen was accompanied by Henan's Communist Party chief Xu Guangchun and Governor Li Chengyu.Upon learning that all the orphans are studying hard and with good results, Wen said with smile: "I have come to see, because I have kept you in my mind.""You are very unfortunate for losing your parents at a young age, but you are very lucky, as well, since there are lots of people in the country who have taken care of you and showed concern for you," said the premier, advising the children to walk out of the shadow of losing parents.He expressed his hopes that these children will study even harder to make themselves useful for the people, the nation and the society, in the future. He asked them to be happy and take an optimistic attitude toward life.Afterwards, the premier sang a song together with the children. He also visited their dormitory, played table tennis, and had lunch with them.Wen first visited Shangcai County in 2005 on the eve of Spring Festival, China's traditional Lunar New Year.The county in Henan is well known for high AIDS incidence caused by illegal blood deals in 1990s. Among 38 worst AIDS-hit villages in Henan, 22 are located in Shangcai.Premier Wen Jiabao chats with children at the Red Ribbon Home, an orphanage in Shangcai County, Henan Province November 30, 2007. [Xinhua]The premier's second stop was Wenlou village, home to 373 HIV carriers, one tenth of the village population. And 360 of them have developed AIDS."I came here two years ago," Wen told some AIDS patients and medical staff, while visiting the village's clinic.Kong Chunyi, one of the patients and a worker of the village's mushroom factory, said he has been quite fine with the help of the government's special policies for this group of people.The Chinese government provides AIDS patients, who have been covered by social security umbrella, with free medicine; provides free consultation to all those who are voluntary to consult on the disease; provides free schooling to AIDS-caused orphans; and provides free consultation, medical check, and medical treatment to pregnant women from areas which have been made exemplary for comprehensive control over AIDS, so as to reduce the spreading of HIV between mother and infant; and make all AIDS patients accessible to financial assistance from the government.During his visit, the premier showed his concern for the problem of drugfastness among some patients. He asked Health Minister Chen Zhu, who was with him, to study the issue.In talks with some medical staff working with the clinic, Wen thanked them for their devotion.The premier also encouraged the patients to be confident and optimistic to face the illness.Wenlou Village is a vegetable production base, but its products do not sell well due to prejudice by some outsiders. Wen called for greater awareness about the disease among the public so as to eliminate prejudice against AIDS patients."You can tell them that the premier has eaten Wenlou's vegetable today," he told the villagers.According to the villagers, with the help of the government, great changes have taken place at the village. The village is gradually out of the shadow of AIDS. About a dozen of children in the village go to college every year."I believe that Wenlou will become better and better day by day," said the premier.In Shangcai County, there are some "simulation families" formed by volunteer "parents" and AIDS-caused orphans.On Friday afternoon, the premier visited one of them with father Hu Shaoling, mother Zhang Ping, and four orphans.In his talks with the "family", Wen questioned the "family members" carefully. "It is not a matter of money, but a matter of passion," he said, upon learning that the "mother" only gets a pay of 500 yuan (about 67 U.S. dollars) per month.The premier told the kids, "Your 'dad' and 'mum' are caring and kind people. You must study hard. Don't forget them and treat them with filial respect when you grow up."At another "simulation family", with five orphans, Wen wrote an inscription, "Study hard for a beautiful future."Later the day, Wen presided over a workshop attended by experts and local officials. In his speech, the premier urged local people to prepare for a protracted war against AIDS.On the same day, Chinese President Hu Jintao visited doctors and communities in north Beijing, talking and shaking hands with HIV carriers to encourage the people "not to be daunted by HIV."An official report released on Thursday said that China officially reported 223,501 HIV contracted cases, including 62,838 AIDS patients, by October this year while about 700,000 people are estimated to be living with HIV/AIDS.

来源：资阳报