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BEIJING/YICHUN Aug. 25 (Xinhua) -- China on Wednesday started the official probe into the Yichun plane crash which killed 42 people and injured 54 others while domestic airlines were ordered to overhaul safety measures.The State Council, or China's Cabinet, has set up a special work group to probe the cause of the crash. Chinese President Hu Jintao and Premier Wen Jiabao ordered a thorough investigation and beefed-up efforts to ensure air travel safety.Chinese Vice Premier Zhang Dejiang, who led an investigation team to the lush forested city of Yichun overnight after the crash, headed the work group.Zhang called upon the work-group's first meeting Wednesday but details of the meeting were not made public.Li Jian, vice director of the Civil Aviation Administration of China (CAAC), told Xinhua that the work group has started to gather evidence for the probe, but the process would take some time.A Brazil-made ERJ-190 turbine jet of Henan Airlines crashed during the landing at the forests-surrounded Lindu Airport of Yichun City late Tuesday night, killing 42 and injuring 54 passengers and the crew on board.Fifteen severely injured, including children and a vice minister, were transferred to four key hospitals in Harbin, the provincial capital on Wednesday night.Initial probes and survivors' accounts indicate the plane missed the runway and crashed on the ground, cracking the cabin and triggering a mild explosion.No signs of sabotage have been found so far, investigators said.The black boxes of the jet have been retrieved.The Lindu airport of Yichun was closed down shortly while operations of the Henan Airlines were suspended.The board of directors of Henan Airlines on Wednesday sacked the airline's general manager Li Qiang and appointed an acting manager to replace him.Cao Bo, Li's replacement, served as the chief pilot of Shenzhen Airlines, the parent company of Henan Airliens.Major Chinese carriers, including the China Eastern and China Southern, on Wednesday called upon emergency meetings to review the companies' safety measures.

BEIJING,Aug 17(Xinhuanet) -- China reduced its holdings of U.S. Treasury debt for a second straight month in June while the holdings of Japan and Britain rose.China's holdings fell by billion to 3.7 billion, a decline of 2.7 percent, the Treasury Department said Monday in a monthly report on debt holdings.Total foreign holdings of Treasury securities rose .6 billion to a total of trillion, an increase of 1.2 percent.The debt figures are being closely watched at a time when the US government is running up record annual deficits. A drop in foreign demand would lead to higher interest rates in the United States. The yield on Treasuries rises when fewer people invest in them.It would start with the US government paying more interest on its .3 trillion national debt and then ripple through the economy. Consumer loans such as home mortgages and auto loans track the yields on Treasurys, so they could rise, too.So far, interest rates in the United States have remained extremely low. A weak economy has depressed borrowing by the private sector and the Federal Reserve has kept a key interest rate at a record low level of zero to 0.25 percent in an effort to spur stronger growth.US interest rates have also been kept low by the European debt crisis in the spring. That triggered more investment in US Treasurys, which are considered the safest investment in the world because the US government has never defaulted on its obligations.China is the largest foreign holder of Treasury securities. The billion decline in China's holdings in June followed a .5 billion drop in May. China's holdings had hit a high for this year of 0.2 billion in April.There are concerns that China could influence US interest rates by rapidly selling off its holdings of US debt. That could lead others to dump their holdings and result in a spike in interest rates.But analysts say China is more likely to sell a little bit at a time."While it would hurt the United States if China started selling off our securities, it would hurt China just as badly because it would drive down the value of their holdings," said David Wyss, chief economist at Standard & Poor's in New York.Wyss predicted that China will slow its acquisition of new US government debt while diversifying its holdings. Wyss said that process has already begun, noting China's recent acquisition of energy and other natural resource holdings in Latin America and Africa.Japan, the second largest foreign owner of Treasury bonds, increased its holdings in June to 3.6 billion. That's an increase of .9 billion or 2.5 percent. Britain's holdings rose 3.5 percent to 2.2 billion.Japan had for years been the No 1 holder of Treasury securities, but was overtaken by China in September 2008.New government data showed that Japan lost its place as the world's second largest economy in the second quarter of this year. China moved up from No 3 to the No 2 spot, behind the United States.While the data on total economic output was for the second quarter, analysts believe China is on track to surpass Japan for the entire year and become the world's second largest economy.The US Treasury report said that net purchases of long-term securities, a category that covers not only US government debt but also debt of US companies, increased by .4 billion in June after rising .3 billion in May.

JINAN, Aug. 7 (Xinhua) -- China concludes a five-day air defense exercise on Saturday with a live-fire drill and precision attacks on air targets by ground-to-air missiles.The live-fire drill, in Shandong Province, was part of the exercise code-named "Vanguard-2010," which began Tuesday in seven cities across Henan and Shandong provinces, involving more than 12,000 personnel.Seven types of ground-to-air weaponry, including a new type of ground-to-air missile and another state-of-the-art anti-aircraft gun, were used in intercepting and concentrating fire on air targets.Nearly 200 military aircraft, including drones, reconnaissance aircraft, fighter jets and helicopters, were involved in the five-day military drill, said Feng Zhaoju, deputy commander of the People's Liberation Army (PLA) Jinan Military Command.The annual drill, consisting of two phases, focused on an emergency evacuation, strategy, reconnaissance, early warning, ground-to-air attacks and evacuation of command posts during the first phase which ended Thursday.Its second phase included testing of air defense abilities in a "complicated electromagnetic environment."A "Vanguard-2009A" exercise last year involved 5,000 troops from the army and air force."Vanguard-2008" included a 2,200-strong armored brigade from the People's Liberation Army (PLA) Jinan Military Area Command.

YICHUN, Aug. 26 (Xinhua) -- Two days after the deadliest commercial plane crash in China in nearly six years killed 42 people in a remote northeastern city, doubts and speculations continue to swirl and no progress has been reported in the government investigation.A brief press conference was held Thursday afternoon -- the first in more than 40 hours after a Brazil-made ERJ-190 turbine jet run by Henan Airlines crashed at Lindu Airport of Yichun, Heilongjiang Province.But officials and an airline executive who addressed the conference did not say what caused the accident or whether their data analysis of the two black boxes found on Wednesday had achieved any results."The black boxes have been sent to Beijing and our specialists are still working on the data," said Lu Xue'er, an official in charge of aviation safety at the General Administration of Civil Aviation (CAAC).A representative from Henan Airlines offered an apology and condolences to the victims and their families."We're grieved over the tragedy," said Liu Hang, Chairman of the Supervisory Board the airline. "Our condolences for the dead and apologies to all the victims, their families and the whole society."He said his company had opened 24-hour hotlines at its headquarters in Zhengzhou, central Henan Province, Harbin and Yichun to help victims' f

BEIJING, June 21 (Xinhua) -- China's top legislator, Wu Bangguo, met Monday with a delegation from the Ethiopian House of Federation, pledging closer links between the two countries on the occasion of the 40th anniversary of diplomatic ties.Meeting with the delation led by Speaker Degefi Bula, Wu, chairman of the Standing Committee of the National People's Congress (NPC), described bilateral ties as an example of friendship between China and African countries.Since the two countries established diplomatic relationship 40 years ago, China and Ethiopia had seen consolidated and progressive friendly cooperation in the spirit of mutual respect and equality, said Wu.The establishment of a comprehensive cooperative partnership in 2003 set the direction for the future development of relations, said Wu.Wu said China was willing to work with Ethiopia to tap cooperative potential and boost traditional friendship.Wu said parliamentary exchanges between the two countries had played positive roles in promoting nation-to-nation relations.Wu urged the two countries to deepen cooperation between special committees and friendly groups within both parliaments in a bid to introduce new energy into China-Ethiopia ties.Degefi expressed his appreciation for China's assistance to African countries, including Ethiopia, saying the Ethiopian government and parliament highly valued relations with China and would learn from China in its economic development, technological progress and national unity.Ethiopia would make joint efforts with China to enhance cooperation in areas like agriculture, science and technology, and infrastructure, said Degefi.