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Hong Kong' benchmark Hang Seng Index plunged 5.18 percent on Monday to close at its lowest level this year, drawn by growing troubles in the global credit markets and weakness in the Chinese mainland bourses.     The Hang Seng Index fell 1,152.50 points, or 5.18 percent, to close at 21,084.61 on Monday, its lowest level in nearly seven months, amid worries on the near collapse of U.S. investment bank Bear Stearns.     Over the weekend, the subprime mortgage crisis claimed another major victim -- Wall Street's fifth largest investment bank Bear Stearns. Wall Street fell sharply on Friday on the news, followed by Asian markets.     The benchmark Hang Seng Index opened at 21,318.03 and fluctuated between 21,041.26 and 21,473.40 during the session. Turnover was at 94.37 billion HK dollars (12.16 billion U.S. dollars), up from last Friday's 88.28 billion HK dollars (11.32 billion U.S. dollars).     Three of the four major categories lost ground. The Properties lost most at 5.73 percent, followed by the Commerce and Industry at 5.58 percent and the Finance at 5.32 percent. The Utilities, the only gainer, edged up 0.21 percent.     The biggest decliners in the local benchmark index were mainly China-based companies. Index heavyweight China Mobile fell 4.6 percent to 102.50 HK dollars. Smaller rival China Unicom slid 4.6 percent to 16.32 HK dollars.     Shenhua Energy fell 8.9 percent to 32.95 HK dollars, and Ping An Insurance was down 7.6 percent at 53.20 HK dollars.     The Chinese mainland's biggest insurer, China Life Insurance, slid 7.4 percent to 25.70 HK dollars. Non-life insurer PICC P&C tumbled 11.5 percent to 6.48 HK dollars.     Air China, Chinese mainland's biggest international carrier, lost 50 cents or 8.5 percent at 5.40 dollars as oil continued its relentless climb to a fresh high of 111.80 in Asian trade Monday on a weaker dollar. The company will report its 2007 results later Monday. The mainland's biggest airline by fleet size, China Southern Airlines skidded 73 cents or 12.5 percent to 5.13 dollars.     PetroChina, Asia's biggest oil and gas company, dropped 6.6 percent to 9.42 HK dollars. Major oil firm Sinopec fell 8.1 percent to 6.14 HK dollars on investor concerns about steep losses at its refining division given the recent surge in crude prices.     Property stocks tumbled, in line with the downward trend in the overall market, and on reports of softening housing prices in the city's new territories.     Sino Land Co, which has the highest exposure to the local residential market, fell 11 percent to 15.42 HK dollars.     Asian billionaire Li Ka-shing's property flagship Cheung Kong Holdings, fell 5.7 percent to 99.05 HK dollars.     Hong Kong's biggest property developer, Sun Hung Kai Properties Ltd (SHK Properties), slumped 4.8 percent to 112.60 HK dollars.     CLP Holdings and Hong Kong Electric were the only gainers in Monday's trade as CLP Holdings up 1.1 percent to 65.30 HK dollars and Hong Kong Electric rose 3.3 percent to 50.90 HK dollars.

Chinese officials said water quality was improving in the country's third-largest lake, choked by a polluted slick of algae, but experts warned that tap water in the area was still not safe, state media reported on Saturday. Taihu Lake, in the southern province of Jiangsu, has been struck by a foul-smelling canopy of algae that left tap water undrinkable for more than 2.3 million residents of nearby Wuxi and prompted a run on bottled water at local supermarkets. Residents said the government was telling them it was safe to drink boiled water, but complained that it still had an unappealing green film on top. Environment experts said it was unlikely to be fit to drink. "Although quality of the water supply has improved significantly on Friday and now it is safe for washing hands or clothes, it still takes some time to become drinkable," the Zhang Xiaojian, an environment specialist at Tsinghua University in Beijing said. Algae blooms can develop in water that is rich in nutrients, often because of run-off from heavy fertiliser use, industrial waste and untreated sewage. Officials have invoked emergency measures, diverting the Yangtze river and seeding clouds to provoke rainfall, to try to flush out the algae. Heavy rainfall is also expected in the area in the next few days. Residents of Wuxi said the algae, which they said smelt like rotten meat, was driving a roaring trade at McDonald's and KFC fast-food outlets in the city. "Here they fry food," said a company manager named Zhao as he queued at KFC. "I can't eat dumplings or noodles because they would be cooked in water and it's too expensive to use bottled water."

The country's top religious affairs official has pledged to continue support for the printing and publication of the Bible, even as the religious text here hit a milestone of 50 million copies published.Ye Xiaowen"The country respects and protects religious freedom," said Ye Xiaowen, head of the State Administration for Religious Affairs."And China has become one of the countries publishing the largest number of Bibles in the world."Ye made the remarks at a ceremony to mark the publication of the country's 50 millionth complete Bible by the Amity Printing Company over the weekend in Nanjing, capital of Jiangsu Province.About 43 million copies of the Bible have been made for believers on the Chinese mainland, with copies in Braille and eight minority languages.The remaining 7 million were exported to more 60 countries and regions, mainly through a joint venture with the United Bible Societies (UBS) established in 1988.The accomplishment of 50 million Bibles is a major milestone in Bible publication in China, which satisfies the nationwide demand including those of the remote rural areas, UBS general secretary Rev Miller Milloy said at the ceremony.About 3 million copies of Bible have been rolling off the press annually in recent years, which forms the largest annual production by any Christian group, said the organization.Amity Foundation, the only one authorized in China to print the Bible, said there are 74 sales offices set up throughout the country for distributing the text."The printing company not only produces Bibles for Christians, it also donates its earnings to charity," said Bishop Kuang-hsun Ting, chair of the board of the Amity Foundation.Official statistics show that there were 16 million Christians in China by 1997 and the number is said to be growing, said Cao Shengjie, president of China Christian Council. The country also has 18 theological schools, with about 1,800 students.Ye gave the assurance at the ceremony that Chinese religious groups will provide help and service, including giving copies of the Bible to overseas athletes and tourists, during the Beijing Olympics 2008."The Amity Printing Company is well prepared to provide assistance to print copies of the Bible for the Beijing Olympic Games in 2008," said Zhang Liwei, deputy secretary-general of the Amity Foundation.Li Zhanjun, director of the Beijing Olympics media center, also said earlier that a religious service center will be set up in the Olympic Village to offer services to Christians, Catholics, Muslims, Jews, Hindus, Buddhists and followers of other religions next summer.

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.

来源：资阳报