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LOS ANGELES - More Chinese tourists are expected to visit the United States as new travel rules between the two nations are pending, a report said on Sunday.Southern California is a likely destination for middle- and upper-class visitors with money to spend, said the Los Angeles Times.Travels agencies are preparing for what they hope could be a boom in new Chinese tourism to the United States that is expected to occur next year.Both nations are finalizing a deal to ease entry restrictions and lift a ban in China on promoting travel to the United States, according to the paper.The negotiations have been going on for several years, but China's government news agencies and sources at the US Commerce Department said a deal should be completed within the next few weeks, said the paper.The new travel rules are expected to be a particular boom to Southern California, which already sees more Chinese tourists - 110,000 in Los Angeles County last year - than anywhere else in the United States. But travel officials expect that number to grow significantly if more members of China's emerging middle and upper classes are able to travel to the region for vacations.China's travel industry is currently prohibited from marketing the United States as a travel destination because of disputes over the strict entry process initiated after 9/11 - a reality that US officials blame on the need for national security and concerns about visitors overstaying their visas, said the paper.

Another two closed-end stock funds have received official approval from China's securities regulator, Xinhua learned from a company source here on Friday.     The China Nature Asset Management Co. Ltd's Tianzhi Fund and the Dongwu Fund run by Soochow Asset Management Co., Ltd received regulatory approval from the State Securities Regulatory Commission Friday.     The Tianzhi stock fund will open through China Communication Bank, China Construction Bank, the Agricultural Bank of China, the Industrial Bank Co., Ltd, Shanghai Pudong Development Bank, CITIC Bank, Minsheng Banking Corp., Ltd, and with big brokers.     The Dongwu fund is to be issued by the Industrial and Commercial Bank of China, the Agricultural Bank of China, China Construction Bank, the Postal Savings Bank, Huaxia Bank and qualified individual brokers.     Both companies declined to say how much they expected to reap from the listing.     Four stock funds launched by Bank of China Investment Management Co., Ltd. and AXA SPDB Investment Managers, CCB Principal Asset Management Co. and China Southern Fund Management Co., respectively, received official approval in the first half of February.     Of the four, CCB Principal Asset Management's Jianxin Fund and the Nanfangshengyuan Fund run by China Southern Fund Management Co. made their debut on Feb. 18.     Market analysts said the launch of these funds was expected to bring a new round of fresh capital into the sliding stock market.     China's securities watchdog suspended the launch of new funds late last year in reaction to the surging domestic stock market. The Shanghai Composite Index nearly doubled last year.

Aerospace experts saved the country's first ever manned space mission as the spaceship faced a potentially lethal impact while flying through the communications blackout area before landing, the country's space authorities revealed yesterday.China became only the third country to put a man in space, after the former Soviet Union and the United States, when Yang Liwei orbited the Earth in 2003 in what was a resounding success for its space program.But Xinhua News Agency reported that this was almost not so, quoting the Xi'an Satellite Monitor and Control Center's report on the dangers the Shenzhou V rocket faced."Yang lost every means to communicate with the ground command and control headquarters as he entered the ( Earth atmosphere), which fell in the worst-case scenario prepared by the space mission team," Xinhua quoted Dong Deyi, head of the center, as saying.Communications go down when any spacecraft re-enters the Earth's atmosphere, but in Yang's case, "even radar could not capture any signal from the returning module", Dong was quoted as saying. "After the Shenzhou V came out of the blackout area, the echo signals from the spaceship were still volatile, which sufficiently threatened the safe landing of astronaut Yang."Mission control promptly ordered optical guiding and tracking instead of a communication-guided landing, Dong was quoted as saying."Aerospace technologists used cinetheodolites (optical trackers) on the ground to measure the spacecraft's position and record movements. Precise positioning of the spacecraft enabled officers to properly control the slow-down parachute, which was vital to a soft landing."But the landing was 9 km east of the planned site, Dong said.China began its clandestine manned space program in 1992. The country has since spent at least 20 billion yuan (.64 billion) on the project and sent three astronauts into orbit.Dong also revealed that at least three orbiting satellites were malfunctioning during certain periods, but all had been salvaged by experts since October 2006.The Xi'an center, established on June 23, 1967, in the mountains of Northwest China, has monitored and controlled more than 100 satellites and the six Shenzhou spaceships. According to official records, China now has at least 19 satellites orbiting the earth.China plans to chart every inch of the moon's surface as part of its ambitious space program.China, which plans to launch a lunar orbiter called "Chang'e I" in the second half of this year to take 3D images, would aim to land an unmanned vehicle on its surface by 2010, Zhang Yunchuan, minister of the commission of science, technology and industry for national defense, said on Friday.Xinhua-Agencies

BEIJING -- China is likely to become the world's second largest consumer market by 2015,  said a report released by the Boston Consulting Group (BCG).Chinese shoppers select the luxury Louis Vuitton luggage at the first franchise store in Nanjing, East China's Jiangsu Province, July 25, 2007. [newsphoto]The report is based on a survey of 4,258 consumers in 13 Chinese cities from February to March 2007. According to the report, Chinese consumers are experiencing unprecedented wealth growth which is 3 to 5 times faster than developed countries in the past 50 years. Most Chinese consumers plan to spend more in near future to fulfill their family dreams."The past decade of rapid economic growth has brought prosperity but also uncertainty, resulting in a highly complex consumer market with diverse consumer attitudes," said Hubert Hsu, senior partner and managing director of BCG, at a press conference in Beijing."Capturing the next wave of consumer growth in China will involve developing deep consumer insights and creating marketing differentiation," said Hsu.The report said there are significant generational differences in terms of spending attitude among Chinese consumers. The strong interest in trading up, which means spending more money for more expensive products, was driven up by consumers' increasing desire for better goods and services and rising concern over safety and quality of cheap products.Chinese consumers put more faith in brand names compared with the US consumers and they believe good brand represents quality, safety, effectiveness and durability, said Hsu.Despite strong trading up desires, Chinese consumers continue to "treasure hunt" - make deliberate trade-offs to maximize "value" of their budgets. They use similar strategies for treasure hunting as their counterparts in other countries except several unusual tactics such as group purchase for volume discount, said the report.The report suggested global suppliers in China should establish strong, branded relationships with China's treasure-hunting consumers, provide the kinds of products that appeal to practical concerns and emotional needs, and be willing to customize their offerings to meet the needs of a geographically diverse population.While the retailers must make sure the categories they carry are the ones that treasure-hunting consumers will seek and focus on a product's technical and emotional benefits, said the report.

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.