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XIANGNING, Shanxi, March 31 (Xinhua) -- The water level dropped Tuesday in a flooded coal mine in north China's Shanxi Province, where 153 people were trapped, as rescue efforts entered the third day.But there was still no communication with the trapped although almost 1,000 rescuers have been racing the clock to pump out water and trying to reach them.By 6 p.m. Tuesday, the water level in the shaft had dropped by 15 cm, and a total of 15,000 cubic meters of water had been pumped out of the pit, the rescue headquarters said late Tuesday.Rescuers send drainage pipes down to the shaft at the site of the flooding accident of Wangjialing Coal Mine, sitting astride Xiangning County of Linfen City and Hejin City of Yuncheng City, north China's Shanxi Province, on March 30, 2010.Currently, six pumps are being used to pump up to 645 cubic meters of water per hour.Altogether 261 workers were in the pit of Wangjialing Coal Mine, which was under construction, when underground water gushed in at about 1:40 p.m. Sunday. Although 108 were lifted safely to the ground, 153 others were trapped in the shaft.The mine, which straddles Xiangning County, of Linfen City, and Hejin City, of Yuncheng City, covers about 180 square kilometers.The mining zone was estimated to have more than 2.3 billion tonnes of coal reserves, including 1.04 billion tonnes of proven reserves, according to the company's official website.The mine, affiliated with the state-owned Huajin Coking Coal Co. Ltd., is a major project approved by the provincial government. It is expected to produce 6 million tonnes of coal annually once in operation.

WASHINGTON, May 15 (Xinhua) -- Forty-six U.S. business executives, led by U.S. Commerce Secretary Gary Locke, began a 10-day trip to China Saturday to promote clean energy technologies, which in Locke's words, will be a win-win scenario for both countries.The delegation, the first cabinet-level trade mission of the Obama Administration, will make stops in Hong Kong, Shanghai and Beijing."We hope to have various signing ceremonies throughout the trip," Locke said before departing the U.S.A MISSION TO PROMOTE EXPORTS OF U.S. CLEAN ENERGY TECHNOLOGIESThe mission comes on the heels of the Obama administration's National Export Initiative, which seeks to double American exports over the next five years -- supporting some two million new jobs in the process.According to the U.S. Commerce Department, the mission aims to promote exports of leading U.S. technologies related to clean energy, energy efficiency, and electric energy storage, transmission, and distribution."Energy is a 6 trillion dollar market. And green energy is the fastest growing sector. The race to develop the new technologies the world will one day rely on is a race that this nation and all developed nations must engage in," Locke told reporters at a press conference Wednesday.The top U.S. trade official said the increased trade with China, especially cooperation on clean energy sector, benefited both countries."Every American should know that when a U.S. clean energy company finds success abroad, it creates more jobs here at home in the United States," Locke said. "In fact, some of the companies on this trip produce over 90 percent of the components for the products that they sell overseas right here in the United States."The trade mission was an opportunity for win-win scenarios for American companies, American workers and the people and the governments of China, he said.ECONOMIC AND TRADE FRICTIONS TO CONTINUE AS COOPERATION DEEPENSAccording to statistics released by the Chinese government, bilateral trade between China and the United States grew 9 percent a year in the past five years.Currently, the U.S. stands as China's second largest trading partner, the second largest export market and the sixth largest source of imports. China is the second largest trading partner of the U.S., its third biggest export market and its number one source of imports.While the two countries enjoy enormous cooperation opportunities in many areas, the U.S. Commerce Department has imposed a series of tariffs on Chinese products and many Chinese companies complain they have been affected by the rising protectionist measures taken by U.S. government.Locke rebuffed these complaints, saying he had explained to Chinese officials it was not the United States government that brought the cases."It's not the policy of the United States government to file these cases. These cases are filed by companies within the United States who feel that the actions of a company from another country (were affecting them)," he told Xinhua.He also noted that less than 3 percent of all goods sold from China into the United States were subject to duties in question."So 97 percent of all the goods coming from China are without any type of penalties or dumping duties or counter-veiling subsidies," Locke said. "We should not focus on the number of complaints."Many Chinese officials have argued the U.S. export control against China has already limited their access to the Chinese market.They believe the achievement of trade balance between the two countries rests not with restricting China's exports to the U.S., but with increasing U.S. exports to China.Secretary Locke echoed the opinion.While he insisted that national security should be the U.S.'s overriding objective, he also admitted "there are so many things now that are on the various control lists that really should not be on the control list."He also told reporters the U.S. government was reviewing its high-tech control systems and the result would be announced in the next few months.He said the current system had strong protections for both sophisticated technologies that could affect U.S. national security, and technologies that were readily available from around the world, which really made no sense?"So we need to reduce those restrictions and make it easier for those items to be exported," Locke said.

NAIROBI, May 8 (Xinhua) -- Somali pirates have hijacked a Taiwan fishing boat off the Horn of Africa nation coast with 26 crew members, a regional maritime official confirmed on Saturday.Andrew Mwangura, East Africa coordinator of Seafarers Assistance Program, said the ship's owner lost contact with the Tai Yuan 227 two days ago north of the Seychelles as it headed for the Maldives. "The fishing boat lost contacts two days ago and has 26 crew members from China, Kenya, Taiwanese and Mozambique. We received the reports on Friday and it seemed the hijack took place two or three days ago," Mwangura told Xinhua by telephone.The International Maritime Bureau has also confirmed the hijack.Pirate attacks off the Somali coast have continued despite the presence of several warships, deployed by navies of the NATO, the European Union, Russia, China, South Korea and India in the region to protect cargo and cruise ships against piracy.Kenya's proximity to Somalia prompted insurance companies to hike up their premiums for ships traveling to Kenyan ports to mitigate the increased insecurity.This led shipping companies to take the longer route around the Cape of Good Hope traveling to the Kenyan ports, with cost of doing business on the Kenyan coast going up by over 40 percent.To date more than 100 suspects have been transferred to Kenya by the Western warships patrolling the Indian Ocean to combat piracy.It is only Kenya and the Seychelles in the region that have agreed to take in suspects for prosecution, but both have recently complained about the burden of trying and jailing pirates in their countries.

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.

CHICAGO, May 15 (Xinhua) -- Highly effective investment in infrastructure by the Chinese government and the urbanization process in China will ensure the continuous rapid growth of the Chinese economy in the next 20 years, said a distinguished economist on Saturday.Justin Yifu Lin, chief economist and senior vice president of the World Bank, made the statement during the "China and the Future of the Global Economy" conference held at the University of Chicago.Lin was very positive about the Chinese government's efficiency in infrastructure investment.During the Southeast Asian financial crisis last century, the Chinese government solved the economic development bottleneck by investing in infrastructure. It laid a solid foundation for the development of an export-oriented Chinese economy, he said."Since the financial crisis in the second half of 2008, the Chinese government implemented a dynamic financial policy and heavily invested in infrastructure. It successfully drove China's economic growth and contributed to the global economic growth as well."Most developing countries are facing the economic bottleneck of a backward infrastructure. The Chinese government has set a good example for other developing countries with its highly efficient investment in infrastructure. The World Bank may consider providing more loans to developing countries to help them invest in infrastructure, he continued.Lin said China's future economic development has greater potential compared with other major economies.

来源：资阳报