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NANJING -- Police in Nanjing, East China's Jiangsu Province, have nabbed 47 suspects over human trafficking and rescued 40 babies, said senior officers with the Nanjing railway police office on Friday.A group of four women, each holding a newborn baby in arms but never breast-feeding the infants, arouse police suspicion on May 24 on a train from Kunming, capital of Southwest China's Yunnan Province, to Nanjing and were questioned.The women, including one identified as Lang Chunyan from Tancheng County of East China's Shandong Province, confessed that the babies were bought from Yunnan and they had been doing so with the help of two other suspects, Dao Xiufen and Ding Fachang, since 2005. While Lang's husband, Shen Yuzhou, was in charge of selling babies with the help of 10 human traders in Shandong.Lang also confessed that they usually buy a baby girl at 1,500 yuan (US0) but sell it for 8,000 yuan, while a baby boy usually costs them 8,000 yuan and can fetch 20,000 yuan for them.The Nanjing railway police set up a special team of more than 10 policemen to investigate the case.The team arrived in Yunnan on May 27 and arrested Dao, Ding and seven other suspects. Shen was later arrested in Shandong.Investigations found that the gang of human traders headed by Shen and Lang have bought 27 newborn babies in Yunnan during 16 trips and then sold them in Shandong.Forty out of more than 60 babies who were trafficked by the gang have been rescued by police so far, while police were trying to find the others.

Wuhan -- China's first bank-invested trust company is officially set up in Wuhan, capital of central China's Hubei Province, on Sunday.The new trust company is held by the Bank of Communications (BOCOM), China's fifth largest lender, and Hubei provincial finance department, which control 85 percent and 15 percent of the total shares respectively.The BOCOM invested 1.2 billion yuan (about US0m) to buy the shares of the Hubei international trust and investment company, the first commercial bank investment in a trust company approved by the China Banking Regulatory Commission.Jin Dajian, chairman of the new company named "jiaoyin-guoxin", or BOCOM-International Trust, said the company would focus on "professional wealth management".Jin called the establishment of the new trust company "a breakthrough for China's trust industry", given that the country's law on commercial banks, effective since 1995, did not allow commercial banks to make trust investment.The regulation was not lifted until the end of last year, when the China Banking Regulatory Commission encouraged financial institutions, including commercial banks, to acquire trust companies.The BOCOM, a large state-owned commercial bank, was established in 1908, and the Hubei international trust investment company was founded as a non-banking financial institution under Hubei provincial government in 1981.

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.

China's consumer price index is expected to rise about 3.3 percent in 2007, moving above the government target of three percent, the State Information Centre said on Wednesday. The forecast came after China's consumer price index (CPI) hit a 27-month-high of 3.4 percent in May, driven by an 8.3 percent rise in food prices, from 3.0 percent in April and 3.3 percent in March. "Consumer inflation in 2007 is to be pushed up by food price increases, and food price increases are the result of a surge in meat, poultry and egg prices," the think-tank said in a report published on the China Securities Journal. The centre is a research body under the China National Development and Reform Commission, China's top planning agency. The report said the rise in meat and other foods would not slow considerably until the last quarter of this year because of high grain and cereal prices. But it did not provide any forecast on policy moves. A surge last month in the price of pork, a staple meat on Chinese dinner tables, raised concerns about inflation. After the May inflation data was released last week, Premier Wen Jiabao said the government was prepared to tighten policy further to restrain the economy and inflation. Various ministries also scrambled to respond in an effort to ease public worries about inflation. The Ministry of Commerce said pork prices in major Chinese cities had dropped slightly in the first 10 days of June. But according to the report, meat and egg prices could rise even further in coming weeks, following a 26.5 percent surge in meat prices in May. Besides food, inflation pressures are under control, the report said. Prices of industrial products are unlikely to rise significantly, and labour cost increases in China have yet to be reflected in consumer inflation. It said the pace of inflation in 2007, although it is exceeding Beijing's target, is still within a range the government can control. Monetary tightening and yuan appreciation in China are expected to have some cooling effects on inflation.

LONDON, March 13 (Xinhua) -- The Center for Creative Business in London hosted on Thursday Creative Exchange with China, exploring the possibilities of business ventures between the two countries in the creative industry.     The conference, which is aimed to help creative businesses from both China and Britain to get to know each other before exploring the business potentials of the rising industry, has attracted some 200 creative entrepreneurs, creative business managers and executives, policy makers, practitioners academics and researchers.     In his keynote speech delivered at the conference, Michael Bichard, rector of the University of the Arts London, said within the next two years, Britain's creative industries sector is expected to overtake the financial sector as the country's most significant economy. At the same time, China will move ahead of Germany as the world's third largest economy.     "If we remain isolated, we would not be able to achieve our creative goals of building global brands. To make collaborations effective, it takes much deeper look into the respective industries instead of superficial ones," he said.     Bichard, who is also chair of Design Council UK, hopes that Design Council would cooperate with China not only academically, but across the business to develop tomorrow's creative industry.     However, Bichard noted that creative exchange is not just about money, it's about understanding. The Olympics is a strong link between Beijing and London. Bichard urged for enforcing the bond, saying "two countries together can achieve great things."     Professor Xiong Chengyu, director of National Research Centre of Cultural Industry at China's prestigious Tsinghua University, clarified the conceptual difference of cultural industry in China and creative industry in Britain.     "It has only been 5-6 years since we began to talk about the cultural industries in China. In the past in China, we regarded culture as a kind of spiritual course which is focused on social benefit rather than economic benefit. The Chinese government realized how important it is to the national economy and has already carried out a number of policies to help and promote development," he said.     Wang Yongzhang, director general of cultural industries at China's Ministry of Culture, elaborated on China's policy improvement on the cultural industry over the years to serve as a backgrounder to the audience.     Representatives from British and Chinese creative companies also shared information about their experience in China during panel sessions.     The afternoon session dwelled on three topics with participants discussing Investing in China, Investing in UK and Managing Creativity in China.     The one-day conference sponsored by the Center for Creative Business, University of the Arts London and London Business School, is part of China Now, a six-month celebration of Chinese cultural and history across Britain.