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BEIJING, Feb. 17 (Xinhua) -- China's new rules for reviewing proposed mergers and acquisition (M&A) deals by foreign firms on grounds of national security would benefit both Chinese and foreign investors, a Ministry of Commerce (MOC) spokesman said Thursday.The rules will facilitate the growth of foreign-invested enterprises (FIEs) in China and improve the quality and structure of foreign direct investment (FDI) flowing into China, MOC spokesman Yao Jian said at a press conference.The move also marked an improving legal environment for the security of China's business sector along with its opening-up drive, given that M&A by FIEs will increasingly become a trend in the coming years, Yao said."The adoption of the rules in China will also increase policy transparency and improve law-based government administration," said Yao.Yao's words came after the State Council, China's Cabinet, announced last Saturday that it was establishing a panel to check whether M&A deals struck by foreign firms in the country endanger national security.The panel will review attempts by FIEs to buy or merge with domestic companies whose business pertains to national defence, agriculture, energy, resources, key infrastructure, transport systems, key technology sectors and important equipment manufacturing industries, according to a statement published on the central government's website www.gov.cn.The review will be conducted by a foreign investment security review board under the cabinet, members of which come from the National Development and Reform Commission (NDRC), the MOC and other agencies.The new regulations, which take effect in March, come at a time when China is expected to see more M&A deals struck by foreign firms.Currently, inward M&A accounts for about 3 percent of China's total FDI, a sharp contrast with the global average level of more than 70 percent, said Yao. "M&A by FIEs will become a major trend in China."China's taking in FDI through more M&A will promote industrial consolidation and restructuring, and it will also mean more efficient utilization of the existing resources, he said."As the share of M&A in the FDI will probably rise from the current 3 percent to 8 percent, 10 percent or even more, it is necessary to timely formulate China's own rules governing foreign takeovers in line with international standards," Yao said.In April 2010, the State Council said in a statement that foreign investment should be allowed to be more diversified and foreign investors encouraged to participate in the consolidation and restructuring of domestic firms via equity holdings or acquisitions.He Manqing, a researcher with the Chinese Academy of International Trade and Economic Cooperation of the MOC, said "It is right and proper to impose regulations and requirements on proposed M&A deals in the sectors of strategic importance and those involving national security.""The introduction of the regulations conforms to the new trend in China's receiving of FDI and indicates that China's regulations on FDI are becoming more mature," said He.The NDRC said Wednesday that national security scrutiny would only occur when foreign companies take a majority stake in a domestic M&A deal, meaning that a minority stake purchase will not trigger a review."The new rules draw references from similar rules in the United States, Germany and Canada," the NDRC said in a statement on its website.The NDRC also said that the new regulations were in line with World Trade Organization rules and did not imply that China had changed its policies on opening up and attracting FDI.China's FDI jumped 23.4 percent in January to 10.03 billion U.S. dollars, said Yao. The monthly growth rate was up from December's 15.6 percent.As the world's top investment destination, China received a total of 105.74 billion U.S dollars in FDI in 2010, up 17.4 percent year on year, the MOC said last month.

CANBERRA, April 14 (Xinhua) -- Scientists on Thursday expressed disappointment to the decision to cancel the long-running Australian Science Festival in Canberra.The festival has been operating during August for the past 19 years with free and ticketed science education activities.However, the festival organizers on Wednesday announced to halt this year's program after failing to secure support from the Australian Capital Territory state government in time to arrange events.According to Australian Science Communicators president, Jesse Shore, thousands of school children have attended the festival over its history to learn more about science as a career."It's encouraged other activities to join it, it was very important in getting National Science Week started, and that's stimulated a lot of other science communication activities," he told ABC News on Thursday.Shore said the decision to close it down is unfortunate as the event has been very influential and instrumental promoting science communications activities.He said he hopes that a number of people would gather together in a new partnership, with new ideas and hopefully a new funding base.

FUZHOU, Feb. 5 (Xinhua) -- A minibus rolled over and fell into a reservoir in Shaowu City in southeast China's Fujian Province Friday afternoon, killing 10, local officials said early Saturday morning.Nine people were rescued, and two were still missing.The minibus bound for Shaowu from Yong'an lost control at 5:27 p.m. Friday when the driver apparently tried to avoid a motorbike. It fell into the Qianling Hydropower Station reservoir, according to officials with Nanping city government.About 200 police and rescuers were still looking for the missing people, and the investigation into the accident is underway.

MOSCOW, Jan. 21 (Xinhua) -- Russian and Chinese companies started construction of an iron ore dressing plant Friday in the Evreyskaya Autonomous Oblast to provide high-grade iron ore to the Asia Pacific region, including China.Yury Makarov, chief executive officer of IRC Ltd., told Xinhua the plant would reach its designed capacity in 2013 at 10 million tons of iron ore and 3.2 million tons of iron ore concentrates, which contain up to 65 percent iron.Makarov said that 20 percent of the iron ore concentrates, which are natural iron ore processed through crushing, grinding and dressing, would be used to meet demands of Russia's far east and the rest would go to the Asia-Pacific market. Currently, China imports large amounts of concentrates from Brazil, Australia and India."We are very open to interaction with various countries of the Asia-Pacific region, especially China. The volume of processed iron ore has been increasing every year. We will be happy to deliver iron ore to your companies as well as any other consumers who are willing to purchase our products," he said.The plant will draw its resources from the Kimkanskoye and Sutarskoye deposits and send its products through the Khabarovsk Krai and the Suifenhe port to China.The plant is only 7 km from the Trans-Siberian Railway. A railway bridge is being planned between Evreyskaya Oblast and Heilongjiang to further shorten the supply route.Total investment in the plant is 400 million U.S. dollars, with 340 million in loans from the ICBC (Industrial and Commercial Bank of China) in China. Interest under the facility will be charged at 2.8 percent above LIBOR per annum. The China National Electric Engineering Co, Ltd is tasked with the construction of the plant.Makarov said he was very optimistic about the future of the plant and the development of relations between the Russia's far east and China's northeastern region.IRC Ltd. is a metal unit of Russian gold miner Petropavlovsk PLC. It became the second Russian company to be listed on the HK stock exchange, when it started trading on Oct. 21.

WASHINGTON, May 3 (Xinhua) -- People diagnosed with asthma in the United States grew by 4.3 million between 2001 and 2009, according to a new report released Tuesday by the Centers for Disease Control and Prevention (CDC).In 2009, nearly one in 12 Americans were diagnosed with asthma. In addition to increased diagnoses, asthma costs grew from about 53 billion U.S. dollars in 2002 to about 56 billion dollars in 2007, about a six percent increase. The explanation for the growth in asthma rates is unknown, according to the CDC.Asthma is a lifelong disease that causes wheezing, breathlessness, chest tightness, and coughing, though people with asthma can control symptoms and prevent asthma attacks by avoiding things that can set off an asthma attacks, and correctly using prescribed medicine, like inhaled corticosteroids. The report highlights the benefits of essential asthma education and services that reduce the impact of these triggers, but most often these benefits are not covered by health insurers."Despite the fact that outdoor air quality has improved, we've reduced two common asthma triggers -- secondhand smoke and smoking in general -- asthma is increasing," said Paul Garbe, chief of CDC 's Air Pollution and Respiratory Health Branch. "While we don't know the cause of the increase, our top priority is getting people to manage their symptoms better."Asthma triggers are usually environmental and can be found at school, work, home, outdoors, and elsewhere and can include tobacco smoke, mold, outdoor air pollution, and infections linked to influenza, cold-like symptoms, and other viruses.According to the report, asthma diagnoses increased among all demographic groups between 2001 and 2009, though a higher percentage of children reported having asthma than adults (9.6 percent compared to 7.7 percent in 2009). Annual asthma costs in the United States were 3,300 dollars per person with asthma from 2002 to 2007 in medical expenses. About two in five uninsured and one in nine insured people with asthma could not afford their prescription medication."Asthma is a serious, lifelong disease that unfortunately kills thousands of people each year and adds billions to our nation's health care costs," said CDC Director Thomas Frieden. "We have to do a better job educating people about managing their symptoms and how to correctly use medicines to control asthma so they can live longer more productive lives while saving health care costs."