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The four-day Beijing air quality exercise held earlier in the month was met with mixed reaction.Diverse opinions were expressed by private car owners and public transport users.During the four days, cars bearing odd and even license plates were allowed on the roads on alternate days to see what effect this would have on the reduction of air pollution.According to a survey by Beijing Youth Daily, 61.9 percent of car owners opposed the practice in a long run while 78.2 percent of public transport users lauded it. The survey covered 3,000 residents.On the positive side, the exercise between August 17 and 20, showed a reduction in haze and smoother traffic flow.On the negative side, it has sparked further debate on the number of vehicles in the capital. About 1,000 new cars are registered every day in the city.Car owners argued that smoother traffic comes at the expense of individuals' convenience."Does being a car owner mean you have limited rights? That would be cruel and inhuman," Wang Hongsheng, head of the Volkswagen Polo club in Beijing, said.Fifty-seven percent of car owners shared his opinion.Among non-drivers, 21.9 percent did not think the even-odd plate exercise was a reasonable, scientific way to gauge air quality."It is an arbitrary way of stripping car owners of their rights. They pay for the convenience," a respondent said.Apart from the purchase price, the cost of owning a car in Beijing ranges from 10,000 yuan to 30,000 yuan (,300 to ,900) a year, he said.The survey also showed 36 percent of car owners were in favor of "public transport if managed well"."People are fed up with the poor condition of buses, and the metro where people are packed like sardines," another said.On options to improve traffic conditions, 49.9 percent said efficiency and lowering public transport fares should top the government's agenda instead of restricting car-ownership.Twenty-six percent of respondents said more roads and bridges should be built to reduce congestion, 14.5 percent were in favor of more flexible parking fees in relation to localities, and 9.5 percent said the use of bicycles, and walking should be promoted.

BEIJING -- China and Japan will start the seventh round of talks on the East China Sea issues in Tokyo, Japan on Thursday, Foreign Ministry spokesman Qin Gang Tuesday told a regular press conference. Director of Chinese Foreign Ministry Department of Asian Affairs Hu Zhengyue and head of the Japanese Foreign Ministry's Asian and Oceanian Affairs Bureau Kenichiro Sasae will attend the talks as top negotiators, according to Qin. China and Japan were divided by the issue of the demarcation of the continental shelf of the East China Sea. Qin said China insisted on shelving the disputes and engaging in joint development, and hoped that related issue would be properly solved through negotiation. "We expect to make in-depth and full discussion with Japan during the upcoming seventh round of talks," the spokesman noted.

TAIPEI, June 23 - Taiwan "presidential candidate" Ma Ying-jeou, who is from the main opposition party, has picked a "former premier" and economic expert as his running-mate for the 2008 election. Ma, from the Nationalist Party or Kuomintang (KMT) and one of two serious contenders for the "presidency", chose former "premier Vincent" Siew because of his experience, one of Ma's aide told Reuters. Siew, 68, served as "economics minister" from 1990 to 1993 and as "premier" from 1997 to 2000 under then "president" Lee Teng-hui. He now chairs the authoritative Chung-hua Institute for Economic Research. Siew ran unsucessfully for "vice-president" alongside KMT candidate Lien Chan in 2000, when opposition leader Chen Shui-bian swept to power, putting an end to half a century of Nationalist rule. Ma faces a close contest next year with Frank Hsieh, candidate of Chen's ruling Democratic Progressive Party (DPP).

NEW YORK - The overheating of the Chinese stock market is a structural problem that will be resolved by developing more financial products and cracking down on illegal activities, a Chinese securities regulatory official said Thursday. Hu Bing, deputy director-general of the market supervision department at the China Securities Regulatory Commission, said at a conference in New York that authorities are seeking to roll out more products to broaden investors' options, such as real estate investment trusts, or REITs, as well as listed infrastructure funds. Other eventual offerings will include derivatives products such as stock-index futures and warrants. These products will be launched "when conditions are ready," Hu said at a China Investment Forum sponsored by Merrill Lynch and Institutional Investor. He said he couldn't provide a clearer timeline for when those products would be ready. Hu acknowledged a "liquidity surplus problem" that is contributing to the overheating of the Chinese stock market and noted that hot-money inflows coming in through illegal channels are exacerbating the problem. Tackling the liquidity issue is a long-term project that "cannot be resolved just by (raising) the interest rate," Hu said. "So the structural problem has to be resolved using structural measures." Earlier this week, the Chinese government tripled its stamp tax on stock trades in an effort to rein in the equity market. The Shanghai Composite Index more than doubled in 2006 and is still up around 50 percent so far in 2007. Hu said China's capital markets are still young and face a "golden opportunity" to develop their depth and breadth. The majority of individual investors rely on rumors or inside information to make their decisions, leading to speculative gains in stocks, he said. Hu said authorities are stepping up efforts to crack down on insider trading, "but because this is a transitioning society in an emerging market, it will take a long time."

The central government has ordered coal firms to stop driving up prices and said they must honor their supply contracts with power plants in an effort to head off a power shortage.At the request of the National Development and Reform Commission, the China Coal Transportation and Distribution Association has threatened to cancel the license of any company that ignores the order to stabilize prices."Coal producers must strictly implement their contract prices for 2008 and must not take advantage of the current tight supply to raise prices as they like," the association said in a circular issued yesterday.Prices should be held at around the same level as at the end of last year, the circular said.The government is also banning all coal shipments other than those to power plants.The crackdown comes as the country faces a severe power shortage. Several power plants are struggling to secure the coal they need, while others are reducing their output rather than lose money as coal prices soar.Brownouts have already hit at least 13 provinces, and at its peak last week, nationwide demand outstripped supply by nearly 70 gigawatts, the People's Daily newspaper reported yesterday.About 80 percent of China's electricity is generated by burning coal.The crackdown on unsafe mines, high global demand, which pushed up prices and the cold snap that has closed roads and downed cables have added to the problem, an official from the State regulator said.