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BEIJING - Chinese share prices rebounded by 1.88 percent on Tuesday with the Shanghai Composite Index, which covers both A and B shares, closing at 5,285.45 points at the end of morning session.The Shenzhen Component Index on the smaller bourse ended at 17,213.70 points, up 0.87 percent.The rise came after a fund has been approved to open for additional subscriptions late this week, which is believed to be a new signal from the government to back up the stock market.On November 4, China's Securities Regulatory Commission (CSRC) issued a notice ordering fund firms not to expand the promised scale of their funds within six months.Heavy weights drove up the share prices. Sinopec went up by 6.58 percent while the new market heavy weight PetroChina by 2.88 percent. China Shenhua rose by 2.36 percent.Steel shares also jumped, with Baosteel, the nation's biggest steel producer, rising 4.10 percent to 15.75 yuan, and with Anyang steel up by 9.39 percent to 10.25 yuan.On Monday, the benchmark Shanghai Composite Index dropped 2.4 percent, or 127.81 points, to close at 5,187.73 points, after falling to as low as 5,032.58 points in intra-day trading.Last week, the Shanghai Composite Index fell 8 percent to 5,315.54, the biggest weekly loss during the past nine years.
Authorities were unable to accurately predict the recent weather conditions due to lack of equipment and an adequate forecast model, the national meteorological agency has said."We underestimated the duration and severity of the weather and failed to pre-evaluate its impact on transport and the power sector," China Meteorological Administration (CMA) spokeswoman Jiao Meiyan said.The CMA had forecast all five rain and snowstorms between Jan 10 and Feb 5 two to five days in advance. But it failed to alert the public to the extreme danger of the storms."One reason why the weather department could not make precise forecasts is because many of the places most affected were located in mountainous areas where meteorological monitors are in short supply," Duan Yihong, deputy director of the National Meteorological Center, said."Another major problem is that China's numerical weather forecasts still fall far behind world standards."Numerical weather forecasts, based on calculations by high-performance computers, are a core part of modern weather bulletins. China began to develop its own numerical forecast model less than a decade ago.There is a 10-year gap between the Chinese model and advanced foreign models, Duan said.The extreme weather also made it a huge challenge for Chinese meteorologists."It was increasingly difficult to forecast as low-probability extreme weather is occurring more frequently," Qiao Lin, chief weather forecaster of the Central Meteorological Station, said.To enhance the country's defense against extreme weather, China will begin to establish a monitoring and warning system, Jiao said.
Joseph Li Shan was ordained on Friday as the new Catholic bishop of Beijing, filling the vacancy left by the late Bishop Michael Fu Tieshan who passed away in April.Father Li Shan, the new Catholic bishop of Beijing, walks out of the Southern Catholic Church following the appointment ceremony in Beijing, September 21, 2007. [Reuters]Li, 42, was appointed to the influential post at a ceremony in the city's 400-year-old Cathedral of the Immaculate Conception at Xuanwumen, Xicheng District in Beijing.The ceremony began with a procession of seminarians, nuns, priests and bishops, including ordaining prelate John Fang Xingyao from Linyi Diocese in East China's Shandong Province, and bishops from other major dioceses in China, who were serving as coordinating prelates.During the ceremony, Li took a traditional oath of service to the church, which has 50,000 followers in Beijing.He also promised to "lead all the priests, seminarians and nuns of this diocese in adhering to the nation's Constitution and maintaining national unification and social stability".Representatives from the Chinese Catholic Patriotic Association and the Bishops' Conference of the Chinese Catholic Church, as well as more than 70 priests and more than 1,000 worshippers attended the ceremony.Proceedings were broadcast to those outside via loudspeaker and closed-circuit television.Overseas media reported earlier that Vatican Secretary of State Cardinal Tarcisio Bertone described Father Li as a "good and qualified" candidate after his election by the Beijing diocese in July."We welcome the attitude of the Vatican. It signals progress in our relationship," Liu Bainian, vice-president of the Chinese Catholic Patriotic Association, said.Li was elected bishop-designate by an overwhelming majority over three competitors by priests and nuns of the Beijing diocese and representatives of Church followers on July 16, after his predecessor Michael Fu Tieshan passed away on April 20.Born in 1965, Li, who used to be a priest at Beijing's St Joseph's Church in the capital's Wangfujing commercial area, graduated from the Chinese Catholic Academy of Theology and Philosophy.He was ordained as a priest by Bishop Fu 1989.You Suzhen, a 75-year-old Catholic, said the new bishop was well liked in the diocese, and had rich experience as an administrator, academic and parish priest."I am confident he will be a good successor to Bishop Fu," You said."I'm sure he'll do a great job in uniting and leading us," Sun Xiang'en, a Beijing priest who helped train Li as a seminarian, said.Li was the second bishop ordained this year, after 40-year-old Paul Xiao Zejiang was ordained as coadjutor - the designated successor to the current Bishop Anicetus Wang Chongyi - in Guizhou Diocese earlier this month.Liu said the Catholic body has so far received six applications to fill vacant bishoprics in Guizhou, Guangzhou, Yichang, Beijing, Ningxia and Hohhot. The Chinese mainland has 5 million Catholics under 97 dioceses.
Mixed feelings over buying Japanese productsHonda, Canon, Fuji, Sony, Mitsubishi, Asahi, Sumitomo, Shiseido, Square Enix and Daiichi Pharmaceutical apart from being Japanese, these brands have something else in common. They are all immensely popular in China. Chinese consumers, with a collective memory of the eight-year Japanese invasion and Japanese prime ministers' constant visits to the Yasukuni Shrine that honors war criminals, have mixed feelings toward these leading brands. To a recent poll by China Daily on its website (www.chinadaily.com.cn), which posed the question "Have you bought any products made in Japan over the past two years, and why?", 45.63 percent of the respondents said "yes", while 44.04 percent said they had not, and the rest of the 1,065 respondents made no comment. Most people, the survey reveals, buy Japanese products because of their quality, after-sales service, design and affordability. "I don't care if the product comes from Japan or is made in China, I only care about its quality," said a respondent. Some consumers believe that the history of war is a political issue, with no relevance to business. A Japanese goods buyer said: "That's the real world. You buy what's value for money. There's no way one can deny that Japanese goods are quality products," but added that if any Japanese company got involved in politics in a "negative way", its goods would fall from her grace. But a great number of people said they were in two minds when buying Japanese goods. "Frankly speaking, products made in Japan are superior to ours, so we tend to buy them. It's rational consumer behavior," a respondent said. "However, in terms of politics, the Japanese prime ministers' visits to Yasukuni infuriates all Chinese people." Most respondents who do not buy Japanese commodities share the latter view. Many of those who participated in the survey believe the two nations share many common interests such as bilateral trade and investment and the Japanese government should strengthen bilateral ties. Bilateral trade volume reached 7.36 billion in 2006, up 12.5 percent over the previous year. Japan continues to be China's third-largest trade partner. By the end of November 2006, Japanese firms had invested .45 billion in China. Japan is now the second-largest source of foreign investment in China, after the United States. From January to October 2006, Chinese enterprises invested .18 million in Japan, with total investment from China reaching 9 million. This year is the 35th anniversary of the normalization of China-Japan relations and the 70th anniversary of the "July 7 Incident" that marked the beginning of the War of Resistance against Japanese aggression.
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."