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An investor smiles before an electronic board showing stock information at a securities firm in Xiamen, East China's Fujian Province March 20, 2007. [newsphoto]The net income of the 287 funds launched by 53 fund management firms totaled 124.8 billion yuan, while paper profits reached about 146 billion yuan, according to WIND, a provider of Chinese financial data. The profits were more than 38 times greater than the seven billion yuan earned in 2005 by all 206 funds under 46 fund management firms. The majority of profits came from the 216 stock-leaning funds, which have at least 60 percent of their investments in stocks. They reported total operating profits of 261.4 billion yuan, accounting for 96.53 percent of all fund profits. The country experienced a fund investment boom last year as investors shifted low-interest bank deposits into the bourses, which surged 130 percent last year after a four-year slump. Fifteen million people have invested in funds. The proportion of individual investors in closed-end funds rose to 74.21 percent by the end of 2006, an increase of 18.05 percentage points from the end of the first half, according to WIND. China raised 390 billion yuan in 90 new funds and registered 7.78 million new accounts in 2006. More than 300 mutual funds have sprung up in China since 1992. The funds are valued at around one trillion yuan, accounting for 19 percent of the present stock markets.
The U.S. National Academy of Sciences announced on Tuesday the election of 72 new members and 18 foreign associates in recognition of their distinguished and continuing achievements in original research. The election was held this morning during the business session of the 144th annual meeting of the academy, and brought the organization's total number of active members to 2,025. Foreign associates are non-voting members of the academy. The 18 newly elected, from 12 different countries, brought the total number of foreign associates to 387. Two Chinese scientists, Zhang Qifa and Li Aizhen, were among the new foreign associates. Professor Zhang is the director of National Key Laboratory of Crop Genetic Improvement, Huazhong Agricultural University, in central China's Wuhan. Li is from the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences. The U.S. National Academy of Sciences is a private organization of scientists and engineers dedicated to the advance of science and its use for the general welfare. It was established in 1863 by a congressional act signed by Abraham Lincoln. The act calls on the academy to act as an official adviser to the federal government, upon request, in any matter of science or technology

SHIJIAZHUANG - A joint investigation team of China and Japan to the Tianyang Food company has not detected abnormity after a half-day inspection tour in the plant, both Japanese and Chinese investigators said here early Wednesday morning."The plant is very clean and well managed, and no abnormity has been detected," a Japanese investigator told the press. Japan will conduct further analysis based on information and data collected in the plant, he said.Wang Daning, director of the department of food import and export safety under the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), said that China and Japan have been cooperating well with each other, and the Chinese side has been letting Japanese investigators see related materials and equipments as many as possible.So far, Japanese police have confirmed that at least 10 people fell sick after eating dumplings laced with the highly toxic organophosphate pesticide called methamidophos made by Tianyang Food.Both governments of China and Japan have been struggling to find what actually had happened. A Japanese investigation team came to China and held talks with China Tuesday morning, then to Tianyang Food in Shijiazhuang in the afternoon and worked till 1 a.m. the next morning.
The State Environmental Protection Administration (SEPA) yesterday outlined its plan to significantly reduce air and water pollution this year.It aims to cut up to 2.3 million tons of sulfur dioxide (SO2) emissions and 1.3 million tons of chemical oxygen demand (COD), a measure used in the monitoring of pollution.SEPA director Zhou Shengxian said yesterday in Beijing that this year's targets are to reduce SO2 by 6 percent and COD by 5 percent based on their 2005 levels, which serve as the base for the environmental goals of the 11th Five-Year Plan (2006-10).By 2010, the plan is to reduce both SO2 and COD levels by 10 percent, based on 2005 figures."Industrial restructuring will play a fundamental role in curbing pollution," Zhou said.He said more high energy consuming and high polluting power plants will be shut down this year, including a number of small-sale thermal power plants with a combined output of 13 gigawatts, steel plants with a total capacity of 6 million tons, cement plants with a combined output of 50 million tons, iron production facilities with a total capacity of 14 million tons, and papermaking factories producing a combined 1 million tons."This phase-out plan, if achieved by the end of this year, will help China reduce its emissions of SO2 by 600,000 tons and cut the COD by 400,000 tons," Zhou said.Key eco-friendly projects will also be implemented, Zhou said.The country's urban wastewater treatment capacity is to be increased by 12 million tons a day, which will cut COD by 600,000 tons.In addition, industries will be required to strengthen their wastewater treatment capacities and will be expected to decrease COD by 200,000 tons a year.In terms of air pollution, the use of sulfur scrubbers to clean emissions will be emphasized.New thermal power generation units with a combined capacity of 30 gigawatts will be installed with sulfur removal capabilities, which is expected to reduce SO2 emissions by 1.5 million tons.Measures taken by the central government and environmental agencies last year also saw progress being made in the green battle.The density of COD in water resources was 6.5 mg per liter, down 7 percent on 2006.A reduction in SO2 emissions also saw the area of land affected by acid rain shrink by 100,000 sq km.The number of blue-sky days with good air quality was also up on the previous year.However, the fight against pollution is far from over, Zhou said.SEPA figures showed that last year, the quality of more than 26 percent of water runoff was worse than grade V - a level unfit for human contact.The air quality in cities on more than 100 days was below grade II, the level at which it is considered healthy for humans.
Chief judge Xiao Yang has pledged to keep up the fight against judicial corruption after the nation's court system rooted out 292 judges last year because of unethical deeds. Greater efforts would be made this year to build a "clean court system", Xiao, president of the Supreme People's Court (SPC), said in an interview with China Daily. "We must never relax our vigilance on corruption," he said, after he reported to the National People's Congress in early March that, last year, 292 judges were subjected to power abuse investigations, with 109 of them prosecuted. The number of judges charged with corruption was 378 in 2005 and 461 in 2004. However, Xiao, who has been SFC president since 1998, said he had ongoing fears about the "grave situation" of judicial corruption. The 69-year-old chief judge said he "lost sleep" because he was so deeply disturbed by reports of corruption, especially those involving court officials. Corruption involving judges, though in small number, damaged the image of the country's court system and undermined the credibility of the justice system. "We will continue to be serious in handling the official corruption cases," he said. In 2006, two high-level group corruption cases were reported by the Chinese court system. The first involved three top judges from Fuyang Intermediate People's Court in East China's Anhui Province, who were arrested for taking bribes since 2005. Two of the former judges were sentenced to 9 and 10 years respectively, with the other one still on trial. The second case involved five senior judges from Shenzhen's Intermediate People's Court in South China. Three of them were sentenced to jail terms ranging from 3.5 to 11 years, with the other two still on trial. Corrupt judges have disrupted the working of the court system and sometimes resulted in wrong verdicts, Xiao said. A "firewall" against corruption will be consolidated, he said, with the apex court on its way to make four important sets of rules on fee charges, court discipline, judge discipline, and court supervision. The first two sets of rules will be implemented this year, with the other two released for public comment. Of the new rules to be released, he said, court officials are barred from using their influence to seek price discounts in any transactions, to occupy properties under other people's ownership, to collect or to spend money through gambling, to have personal investment managers, or to seek benefits for their family members. Also, beginning last year, the court introduced an "anti-corruption deposit" system. If a 22-year-old court staff member deposits 500 yuan () every year and does not do anything illegal, he will get 300,000 yuan (,600) upon retirement - including his premium and reward.
来源:资阳报