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HANGZHOU - Nineteen people are missing with only one rescued after a Liberian ship collided with a fishing boat in the East China Sea on Saturday night, said the Zhejiang Maritime Affairs Bureau on Sunday.A spokesman with the bureau said that the Liberian ship, "Formosa 10", collided with the fishing boat about 11:40 pm in the sea off the eastern Zhejiang Province, on its way from Taiwan to the Republic of Korea.The fishing boat, with 20 people on board, capsized."Most of the missing people are local fishermen and the others are from the neighboring provinces," said the spokesman.The provincial search and rescue center sent more than ten searching boats to the scene immediately and a helicopter arrived to assist in the operation around 6:45 am on Sunday.More than 20 fishing boats also participated in the rescue work."The visibility at the sea is favorable but the temperature of the sea water is very low. Usually, it's hard for people to survive more than 12 hours in such cold water," rescuers said.

The authorities are considering a central system to award individuals' achievements in various fields to regulate such honors now being given out by local governments and agencies, said officials."The country is forging ahead to study the setting up of a national system of honors and a government framework for awards," said Yin Weimin, minister of personnel.Research on two specific laws to administer awards and confer medals is already being carried out, Yin said in a conference over the weekend.The National People's Congress has discussed laws on systems to give out awards and medals as early as 1993, but no agreement has been reached because of the complexity of such systems, experts said."Effective government awarding methods are positive ways to motivate society to learn from the merits of individuals," said Wang Xiongjun, a researcher with Peking University."And the establishment of core honors in an award system, as national honors and medals for certain fields, will bring China in line with international standards," Wang said.Currently, China has various rules set up by government agencies to award individuals including civil servants and civilians who make contributions in certain fields, but almost all these lack detailed descriptions on awarding procedures and methods, said Wang.There have also been cases where officials were nominated for awards in controversial selection processes - sometimes involving large amount of prize money - that were said to lack transparency.For instance, judge Song Yushui from the Haidian District People' Court was up for an award worth a million yuan (5,600) in 2005 given by the Beijing municipal government for being one of the "outstanding individuals" of the year.But critics said Song should not receive such an award since her "achievements" were expected of her as a judge.To prevent such situations, there should be guidelines and principles set under an awards system, said Hua Xiaochen, an expert on public institutions with a research body under the Ministry of Personnel.The main role of an awards system is to provide examples of merit for the public to learn from and not to focus on large prizes, Hua told the Legal Daily.

BEIJING, March 21 -- A growing number of people are choosing to keep their money in the bank rather than invest it in stocks or property, a central bank survey released yesterday said.     More than 51 percent of the 20,000 households polled said the current level of interest rates was "appropriate", the quarterly survey by the People's Bank of China said. The figure was up from 46 percent in the previous poll held in the fourth quarter of last year, and was the fourth consecutive quarterly increase.     The central bank raised interest rates six times last year in a bid to curb inflation. The rate for a standard one-year savings account is now 4.14 percent, up from 2.52 percent at the start of last year.     While investing on the stock market was a popular option in the earlier part of last year, recent corrections have dampened enthusiasm. The benchmark Shanghai Composite Index has fallen about 40 percent since October, and in recent months, bank deposits have grown significantly.     The survey was carried out last month and involved families in 50 cities. Of those polled, 35 percent said they thought it necessary to save more, up from 30 percent in the previous poll, while almost 28 percent said they planned to invest more in stocks and mutual funds, down from about 36 percent.

China on Friday issued its first regulation on human organ transplants, banning organizations and individuals from trading human organs in any form.The regulation, issued by the State Council, or China's cabinet, will go into effect on May 1.The regulation does not apply to transplants of human tissue, such as cells, cornea and marrow.Human organ transplants are defined as the process of taking a human organ or part of a human organ - such as the heart, lung, liver, kidney and pancreas - from a donor and transplanting it into a patient's body to replace his or her sick or damaged organ.The regulation stipulates that human organ transplants should respect the principle of being voluntary and free donation.The regulation comprises 32 articles in five chapters, including human organ donations, human organ transplants, legal responsibilities and supplementary points. It covers transplant quality and aims to safeguard citizen's lawful rights.

China's Premier Wen Jiabao said on Wednesday macro control measures should be further strengthened to prevent the fast-growing national economy from overheating. The monetary policies should be stable in general but "moderately tightened" to secure a stable and fast-growing economy, said Premier Wen at a meeting of the State Council. Wen said the country will continue to implement its current prudent fiscal and monetary policies. He called for fiscal policies to be more supportive of industrial restructuring. He said industrial production is growing at a rate that is faster than desired and the trade surplus is too big. China's trade surplus in May soared to US.45 billion, up 73 percent from the same month last year. Wen said the country would continue to adjust export rebates and tariffs on certain items while further improving policies to boost imports in a bid to address the climbing trade surplus. Sustained fast growth of investment, excessive liquidity in the capital market and rising inflation pressure also deserve more attention, said Wen. Wen said the government would control the supply of land and bank loans to high energy-consuming projects. He also said financial, fiscal and taxation measures should be employed to guide the flow of capital. He said there should be more channels for capital outflow and for the use of foreign exchange. Rising food prices have caused the consumer price index (CPI) to rise 3.4 percent in May, higher than the government's target of three percent. Wen pledged to stabilize food prices by ensuring the food supply and enhanced supervision over food quality.