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BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified Foreign Institutional Investors (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.The move is expected to widen the investment channel of overseas RMB funds and add new momentum to the country's bid to make the RMB an international currency.Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the rules jointly released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity funds should account for no more than 20 percent.The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.It will also help diversify investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.The RMB is not fully convertible under the capital account but China has stepped up efforts to make the currency more international over the past few years.The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.

XIAMEN, Dec. 26 (Xinhua) -- The three-decade achievements of the Xiamen Special Economic Zone have shown that China has made the right decision to set up special economic zones (SEZs), President Hu Jintao said Monday.Hu made the remarks in a congratulatory letter to a gala held Monday in southeastern Fujian province's city of Xiamen, which is celebrating the 30th founding anniversary of its special economic zone.Over the past 30 years, the Xiamen Special Economic Zone has made marked socio-economic progress, made significant changes in people's lives, and served as a pilot area for the country's reform and opening-up and socialist modernization, Hu said.The Xiamen Special Economic Zone has made a unique contribution to promoting cross-Strait economic and trade cooperation as well as culture and personnel exchanges, Hu said in the letter.Hu also urged the economic zone to further enhance the capability of independent innovation, ensure and improve people's well being, strengthen and make innovations in social management, and better serve the peaceful development of the cross-Strait relationship.He Guoqiang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attended and addressed the gala.In his speech, He said the economic zone should develop high-end manufacturing business and a modern service industry, while speeding up the establishment of a market-oriented technology innovation system that integrates production with scientific research.The economic zone needs to make greater efforts in energy saving and emissions reduction as well as environmental protection by greatly developing a green and recycling-based economy, according to He.He also said that the economic zone should exert itself to increase the income of rural and urban residents, especially low-income residents, and meet people's basic requirements in terms of education and culture, employment, medical services and housing."Reasonable appeals of the people should be addressed, and behavior that undermines people's interests should be resolutely rectified," He said.In addition, He expects the Xiamen Special Economic Zone to thoroughly implement the cross-Strait Economic Cooperation Framework Agreement (ECFA) and further explore and enhance cooperation in finance and logistics with Taiwan, He said.The economic zone should also strengthen the development of direct flights, customs clearance and ports in order to facilitate direct exchanges across the Taiwan Strait, according to He.He also met with representatives of Hong Kong, Macao and Taiwan residents and overseas Chinese, who attended the gala.He said people from all walks of life in Hong Kong, Macao and Taiwan have long been active in investing, financing education and alleviating poverty in Fujian.They have not only shared the opportunities that the country's reform and development have brought forth and expanded their own enterprises, but also greatly boosted the country's socio-economic progress, He said."You are witnesses, participants and beneficiaries of the reform and opening up," He said to these representatives.The Xiamen Special Economic Zone is one of the four earliest SEZs set up after China initiated the reform and opening up in 1978. In 1984, it was expanded from the initial 2.5 square kilometers to 131 square kilometers. Last year, it was extended to span the entire city.

WASHINGTON, Oct. 3 (Xinhua) -- The Rockefeller University confirmed Monday its Canadian-born cell biologist Ralph Steinman died three days before being awarded the Nobel Prize on Monday as the Nobel committee was unaware of his death at the time."Steinman passed away on September 30," the New York university said in a statement."He was diagnosed with pancreatic cancer four years ago, and his life was extended using a dendritic-cell based immunotherapy of his own design."The Nobel committee was unaware of Steinman's death when announcing this year's winners and it was unclear whether the prize would be rescinded because Nobel statutes don't allow posthumous award."The Rockefeller University is delighted that the Nobel Foundation has recognized Ralph Steinman for his seminal discoveries concerning the body's immune responses," says Rockefeller University President Marc Tessier-Lavigne."But the news is bittersweet, as we also learned this morning from Ralph's family that he passed a few days ago after a long battle with cancer. Our thoughts are with Ralph's wife, children and family.""We are all so touched that our father's many years of hard work are being recognized with a Nobel Prize," says Steinman's daughter Alexis. "He devoted his life to his work and his family, and he would be truly honored.""Ralph's research has laid the foundation for numerous discoveries in the critically important field of immunology, and it has led to innovative new approaches in how we treat cancer, infectious diseases and disorders of the immune system," Tessier-Lavigne says.Steinman, who discovered the immune system's sentinel dendritic cells, is this year's recipient of the Nobel Prize in Physiology or Medicine. He shares half the prize with Bruce Beutler and Jules Hoffmann.

WASHINGTON, Dec. 21 (Xinhua) -- New research suggests that, in people who don't currently have memory problems, those with smaller regions of the brain's cortex may be more likely to develop symptoms consistent with very early Alzheimer's disease.The study was published Wednesday in the online issue of Neurology, the medical journal of the American Academy of Neurology.For the study, researchers used brain scans to measure the thickness of regions of the brain's cortex in 159 people free of dementia with an average age of 76. The brain regions were chosen based on prior studies showing that they shrink in patients with Alzheimer's dementia.Of the 159 people, 19 were classified as at high risk for having early Alzheimer's disease due to smaller size of particular regions known to be vulnerable to Alzheimer's in the brain's cortex, 116 were classified as average risk and 24 as low risk. At the beginning of the study, participants were also given tests that measured memory, problem solving and ability to plan and pay attention. The tests will go on over the next three yearsThe study found that 21 percent of those at high risk experienced cognitive decline during three years of follow-up after the MRI scan, compared to seven percent of those at average risk and none of those at low risk."Further research is needed on how using MRI scans to measure the size of different brain regions in combination with other tests may help identify people at the greatest risk of developing early Alzheimer's as early as possible," said study author Bradford Dickerson, of Massachusetts General Hospital in Boston and a member of the American Academy of Neurology.

WASHINGTON, Nov. 21 (Xinhua) -- The launch of the Mars Science Laboratory, which contains the car-sized Curiosity rover, has been delayed by a day to Nov. 26, the U.S. National Aeronautics and Space Administration (NASA) announced Monday.The delay will "allow time for the team to remove and replace a flight termination system battery," NASA said in a statement.The launch is now scheduled for 10:02 a.m. (1502 GMT) on Saturday from Cape Canaveral Air Force Station, Florida. The launch window remains open for one hour and 43 minutes.Curiosity is about twice as long and more than five times as heavy as any previous Mars rover. Its 10 science instruments include two for ingesting and analyzing samples of powdered rock delivered by the rover's robotic arm.Scheduled to land on the Mars in August 2012, the one-ton rover will examine Gale Crater during a nearly two-year prime mission. Curiosity will land near the base of a layered mountain three miles (five kilometers) high inside the crater. The rover will investigate whether environmental conditions ever have been favorable for development of microbial life and preserved evidence of those conditions.

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