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BEIJING, April 3 (Xinhua) -- China will launch a two-month campaign to inspect work safety nationwide on April 5, according to the work safety commission of the State Council, or the Cabinet.Serious accidents took place in succession in some areas and industries recently, which shows negligence and loopholes in work safety management and serious violations to laws and regulations, said a circular issued by the commission.The inspection would focus on work safety in mines, the chemical industry, transportation and fire-works mills, among others.The campaign would include self-examination by enterprises, government inspection and public supervision.Enterprises are required to complete self-examination in April and local governments to conduct inspection in May, while the commission would dispatch supervision teams to check their work.The nationwide campaign comes days after 153 coal miners were trapped in a flooded coal mine in north China's Shanxi Province, which will be China's worst mining disaster in more than two years if the miners cannot be saved.

BEIJING, May 30 (Xinhua) -- Growth in China's consumer price index (CPI) is likely to see a reverse "V" shape this year and the possibility of a serious inflation is easing, said Ha Jiming, chief economist at the China International Capital Corp. (CICC).Speaking at an investor education activity in Beijing Saturday, Ha expected China's CPI to increase 3.2 percent in May from a year earlier, and said the CPI annual growth rate would even peak at 4 percent in June and July.The country's CPI rose 2.4 percent year on year in March and the growth for April accelerated to 2.8 percent, according to statistics from the National Bureau of Statistics.The pick-up in CPI growth was a result of lower comparison base last year and the risk for a serious inflation in short term was defusing because both the global commodity prices and domestic meat and vegetable prices were falling, he said.In China, food prices accounted for one third of the CPI weight.The CICC has cut its estimate for China's economic growth this year to 9.5 percent from 10.5 percent, he said.Interest rate hikes would be unlikely this year as growth in consumer prices was expected to fall in the second half, he said.

BEIJING, May 14 (Xinhua) -- Chinese Vice Premier Hui Liangyu has urged reconstruction authorities to protect the fragile ecosystem and improve living conditions during their work in the quake-hit Yushu Tibetan Autonomous Prefecture.Hui was speaking at a meeting held by the State Council on Friday in Beijing to evaluate a report on the reconstruction's impact on resources and the environment.A 7.1-magnitude earthquake jolted Yushu in the Himalayan northwest Qinghai Province on April 14, leaving at least 2,200 deaths.The State Council, or Cabinet, approved the report at the meeting and Hui said reconstruction planners should consider the impact of their projects on the ecosystem.The epicenter of the devastating quake was at the headwaters of three major rivers -- the Yangtze, the Yellow and the Lancang rivers -- that run through China and neighboring countries.The clearing of debris, selection of sites for new towns and development of other industries in the quake area should all prioritize environmental protection, and natural forests as well as vegetative cover should be protected and restored, Hui said.The government has pledged to finish reconstruction work within three years.

URUMQI, May 29 (Xinhua) -- China would spend 120 to 150 billion yuan (17.6 to 22 billion U.S. dollars) on transport infrastructure in its far-western Xinjiang Uygur Autonomous Region over the next five years, the regional government said Saturday.The money will be used to build new roads and renovate old ones to support Xinjiang's "leapfrog development" promised by the central government earlier this month, according to a statement issued after a conference of the Ministry of Transport and Xinjiang's regional government.The paved roads to be built or renovated will reach 75,000 to 80,000 kilometers in the region where there were just 15,000 kilometers of paved roads in place by the end of last year, said Song Airong, a regional Party official.Xinjiang's current 838 kilometers of highways will also be extended to 4,000 kilometers over the next five years, he said.The central government unveiled a policy package last Thursday to support the development of Xinjiang Uygur Autonomous Region, setting a goal that the region should undergo a spurt in development so that by 2015 its per capita gross domestic product could reach the national average.Under the package, fixed asset investment in Xinjiang in the next five years will be more than double the amount in the current five-year plan that ends this year.

BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.