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BEIJING, Aug. 13 (Xinhua) -- Chinese rating agency Dagong Global Credit Rating Co. on Saturday defended its AAA rating given to the Ministry of Railways, which has been under public fire over a train collision last month.The ministry received the long-term credit rating after launching on Monday its first bond sales since the crash on July 23 that killed 40 people near the Wenzhou city of eastern Zhejiang province.It sold 20 billion yuan worth of three-month bills on offer in the interbank market, with a yield of 5.55 percent, a relatively high rate for short-term government paper.The rating was assigned because of the ministry's status as a government agency backed by the central government revenue, its sufficient capital flows and strong financing ability, Dagong said in an email to Xinhua.The agency made the elaboration in response to market doubts as the ministry is already heavily indebted and the accident has stirred up skepticism about the its credibility and the safety of fast-expanding railways.Adding to doubts is that the AAA rating of the ministry is even a notch above China's local currency debt rating of AA+, which was also rated by Dagong.Government data showed the ministry's debts exceeded 2 trillion yuan (313 billion U.S. dollars) as of the end of June, raising its debt ratio to 58.53 percent, slightly up from the end of the first quarter of this year.Dagong said in the statement that the debt-to-asset ratio is medium level, lower than the alert line for the ministry which is 75 percent.The ministry has large-scale assets of good quality and relatively large room for fund-raising, Dagong said.The ministry has "extremely strong" repayment ability as it is backed by the state's credit, Dagong said, referring it as one of the three authorities that are allowed to issue bonds, along with the Ministry of Finance and the People's Bank of China.In July, the ministry issued 20 billion yuan of one-year commercial papers with a coupon rate of 5.18 percent, but only 18.73 billion yuan of the total was bought.Analysts said it has become more difficult for the ministry to borrow money because of tightened market liquidity and concerns over the ministry's debt burden.China's top four banks said at the end of last month that they will continue to offer loans to the ministry based on market conditions and risk appraisal. Credit from the four largest state-owned banks including the Industrial and Commercial Bank of China and the Construction Bank of China has been the major source funding the construction of China's fast-growing railways in recent years.

SAN FRANCISCO, June 15 (Xinhua) -- As social networking sites like Facebook and Twitter grow worldwide, more Internet retailers are beefing up their efforts to add social twists to their business, trying to define the idea of "social commerce" and capitalize the opportunity.On Wednesday, online auction giant eBay revealed some of the social features it is planning to launch later this year, while Copious, a San Francisco-based startup, launched its online social commerce marketplace with a slogan of "buying from and selling to people, not strangers."Copious asks users to log in through their Facebook accounts and allows buyers and sellers to see if they have friends in common in their social networking sites. Buyers can see more information about a seller and also see whether anyone in their networks has purchased, shared or commented on an item from a specific seller, rather than anonymity or simple profiles on sites like eBay and Craigslist.As for sellers, Copious has a social pricing mechanism that enables a seller to offer buyers discounts for sharing listings on Facebook and for following the seller on Copious.Jonathan Ehrlich, Copious co-founder and former Facebook head of marketing, told technology blog TechCrunch that the site is centralized around using social data as a signal to help users understand and trust other parties.According to Copious, the startup founded in January 2011 has raised two million U.S. dollars in funding from Foundation Capital, Google Ventures, Blackberry Partners Fund and a number of Silicon Valley angel investors.Also on Wednesday, Christopher Payne, vice president and head of eBay North America, delivered a keynote speech at the Internet Retailer Conference and Exhibition 2011 in San Diego, revealing some features eBay is launching during the social trend.One feature will enable users to log in their Facebook account on eBay's homepage to get product recommendations based on one's purchasing history and things they have "liked" on their Facebook page. Another feature will allow users to post multiple products on their Facebook page to get their friends' opinions and ask them to vote for the final purchase.EBay has been stepping up its social efforts, and Payne said on Wednesday that social is a top-level initiative for Internet retailers. Last month, eBay hired former Yahoo executive Don Bradford to lead its social commerce efforts. Last November, it launched Group Gifts service, enabling users to chip in to buy a gift for someone.A research by Adgregate Market in March showed that more brand websites are losing traffic to their Facebook pages. The study revealed that the "Facebook stores" of most Internet retailers are more efficient at acquiring visitors, indicating social commerce is poised to take off.Although the idea of social commerce is still new, more companies are trying to seize the opportunity in their own moves.There are many other companies taking the social commerce model. Oodle, the exclusive provider of classified ads on the Facebook Marketplace, rolled out a series of social features last December to make more money from social classifieds.In February, Payvment Inc. launched a Facebook Mall, where consumers can shop for more than 1.2 million products among 60,000 retailers in a single shopping cart.Yardsellr, which is often called "an eBay for Facebook," allows sellers to list items at fixed prices in different categories called "blocks," such as jewelry and purses. Prospective buyers can "like" the "blocks" they are interested in on the Yardsellr website or its Facebook page, and then they will get Facebook news feed if a seller has something to offer in the category.Yardsellr said 1.5 million people were following its "blocks" by late December 2010 and the number of new followers is growing by 20,000 daily.

BEIJING, July 15 (Xinhua) -- The Chinese Academy of Agricultural Sciences (CAAS) announced Friday that a group of international scientists has finished sequencing the genetic code of the potato.The Potato Genome Sequencing Consortium (PGSC), which is led by Chinese scientists and made up of 97 researchers from 14 countries, has sequenced the complete potato genome and published a report of its findings in the latest issue of the scientific journal Nature, said the CAAS.The research took six years and revealed that the potato contains about 39,000 genes, said the CAAS.Qu Dongyu, a potato farming specialist with the Crop Science Society of China and a promoter of the PGSC, said the study helped discover genes that define the growth and insect resistance of potatoes.The sequenced genome will enable scientists to create new varieties of potato that are high in yield and quality and more resistant to insects and diseases, he said.Huang Sanwen, a researcher with the CAAS and one of the three corresponding authors of the report, said the sequencing will also allow potato breeders to accelerate the breeding process of new seeds from 10 to 12 years to about 5 years.China is the world's top potato grower, with its farmers planting potatoes on nearly 90 million mu (6 million hectares) of land each year. The average yield per mu stands at 1,000 kg, only one-third of that harvested by countries with advanced technologies, Qu said.

DUBLIN, June 27 (Xinhua) -- The Irish government is aiming to increase internet literacy among older people with the launch of a 1.6 million euro training program, according to a cabinet minister on Monday.The goal of the scheme is to provide basic internet skills to 30,000 elderly people across the country who are less likely engage with the internet themselves.The announcement was made by Irish communications minister Pat Rabbitte at a new computer training facility run by Age Action Ireland, an Irish charity which promotes positive aging and better policies and services for older people.The Irish minister detailed how the training program will help those involved."This scheme will enable thousands of people throughout Ireland, people otherwise likely to be left behind in the knowledge society, to acquire the basic practical know-how to improve their digital skills. In particular this will help older people, those with disabilities, the unemployed and other key target groups. They will learn to use the internet, emails and how to conduct simple on-line transactions," he said."Previous schemes show that learning such basic skills helps people in many ways, giving them new communication options, new opportunities to save money, as well as better access to a wide range of on-line services," he added."We have also seen how such new skills and the opportunities that result from them improve people's confidence and wellbeing. More widespread participation in the knowledge society is a win- win outcome with advantages for citizens, government and the wider economy."

WASHINGTON, June 21 (Xinhua) -- Brain cancer patients who are able to exercise live significantly longer than sedentary patients, U.S. scientists at the Duke Cancer Institute have reported.The finding, published online this week in the Journal of Clinical Oncology, adds to recent research that exercise improves how cancer patients feel during and after treatments, and may also extend their lives.The study enrolled 243 patients with advanced recurrent gliomas, lethal brain malignancies that typically result in a median life expectancy of less than six months. The patients who reported participating in regular, brisk exercise -- the equivalent of an energetic walk five days a week for 30 minutes -- had significantly prolonged survival, living a median 21.84 months versus 13.03 months for the most sedentary patients."This provides some initial evidence that we need to look at the effects of exercise interventions, not only to ease symptoms but also to impact progression and survival," said Lee Jones, associate professor in the Duke Cancer Institute and senior author of the study.