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BEIJING, March 19 (Xinhua) -- In spite of the fact that snow still covers his farmland, Jiang Chen has been busy stocking fertilizers and seeds to prepare for the coming spring farming season."I am almost ready for the sowing," said Jiang, a 64-year-old peasant who farms five hectares of cropland in Liujia Township in Yushu City, northeast China's Jilin Province. "But the costs are rising so I still want to look for better seeds providing a higher yield this year."As the Chinese government continued policies to assure a good grain harvest this year, millions of farmers like Jiang in China's major grain-producing regions such as Jilin, Heilongjiang, Shandong and Henan provinces are now gearing up to finalize preparations for the coming sowing season.The central government's incentives in 2011 include increases in minimum rice purchase prices by 9.7 percent to 21.9 percent from last year, as well as 24.9 billion yuan (about 3.77 billion U.S. dollars) in subsidies to the national grain risk fund for farmers."Though farmers are richer now than before, our economic strength remains relatively weak as compared with urban residents," Jiang said.He noted that he was considering investing less this year because the cost of agricultural production has increased year after year.The average urea price from manufacturers and retailers rose about 10 percent from last year to about 1,980 yuan and 2,100 yuan per tonne at a grain and oil wholesale market near Yuquan Road in Beijing, where many farmers from neighboring Hebei, Henan and Shandong provinces buy agricultural fertilizers and additives.Urea is the primary fertilizer used by Chinese grain growers, though many of the farmers said that they would reduce the use the compound in their fields due to rising prices and the impact on wheat caused by the widespread drought in north China this winter.Wang Quan, the president of China National Agricultural Means of Production Group Corp., the country's largest supplier of agricultural materials, predicted that the use of urea during the spring farming season would be between 20 million tonnes to 25 million tonnes, which is about two fifths of the year's total.Wang said that the urea price is around 400 U.S. dollars per tonne in global markets, or 15.7 percent higher than the domestic price."I think it takes time for Chinese farmers to accept the price hikes gradually," he added.Analysts say that the different perceptions on urea prices between manufacturers and farmers may have affected China's crops because the reduced use of fertilizers usually mean less grain output in the country since many farmers depend more on fertilizers, rather than technology to boost production.China's grain output rose 2.9 percent last year to 546.41 million tonnes, marking the seventh consecutive year of growth. The country aims to keep its 2011 grain production over 500 million tonnes, according to an executive meeting of the State Council, or the Cabinet, Thursday.Chinese Premier Wen Jiabao said last month that rising costs of grain production, the lingering drought in north China's major wheat-growing regions and the weakening of agricultural production in some areas would directly affect China's summer grain output.Facing challenges such as higher costs for growing grain, Jiang believed that he could generate higher income from his crops this year with the support of the agricultural sector by the government."If the grain prices also rise this year, I can still earn a net income of 10,000 yuan for every hectare of farmland," Jiang said."I hope to keep my farmland from being seized for industrial or residential development," he added.
BEIJING, May 10 (Xinhuanet) -- Professional social networking site LinkedIn is aiming for a valuation of 3.3 billion U.S. dollars for its initial public offering, media reports said Tuesday.The Mountain View, California-based company is expected to begin trading on the New York Stock Exchange within the next month and will use the symbol "LNKD."It plans to offer 7.84 million shares priced at 32 dollars to 35 dollars each, according to the filing, which it submitted to the Securities and Exchange Commission.LinkedIn, which has more than 100 million members in over 200 countries and territories, is seeking to raise as much as 274.4 million dollars from the initial public offering (IPO) with 146.6 million dollars going to the company itself.In 2010, LinkedIn made 15 million dollars in profit on 243 million dollars in revenue, according to the filing.LinkedIn's biggest shareholder is its founder and chairman, Reid Hoffman, who owns more than 21 percent of the company.
NEW YORK, March 9 (Xinhua) -- The U.S. stocks dropped on Wednesday, the two-year anniversary of the beginning of a bull market, as concerns of oil prices and Middle East unrest continued to weigh on investors' minds.U.S. crude oil price dipped on Wednesday as crude inventories rose more than expected, though Brent crude rose on fears caused by continued violence in Libya.Meanwhile, Rex Tillerson, the CEO of energy giant Exxon Mobil Corp., said on Wednesday that he didn't think the recent jump in oil prices was hurting the U.S. economy just yet, but it's getting close.The market was worrying that the surging oil prices would hurt global economic recovery. Adding to those concerns, the Portuguese government's two-year cost of borrowing hit the highest level since it joined the eurozone in a bond auction on Wednesday.Wednesday marked the two-year anniversary of the beginning of a bull market. On March 9, 2009, the Dow Jones Industrial Average closed at 6,547 and the Standard & Poor's 500 Index closed at 677. The Dow is back above 12,000 now and the S&P 500 index has almost doubled.Meanwhile, the wholesale report was slightly positive, but still failed to boost the market. According to the U.S. Commerce Department, the wholesale inventories climbed 1.1 percent in January. Sales at the wholesale level rose 3.4 percent, the largest gain since November 2009.Economists expected that as businesses kept expanding, demands for products would continue to grow. And larger sales may also encourage businesses to keep restocking their shelves and boost factory production.According to the report, a 10.6-percent rise in demand for petroleum helped lift sales, reflecting higher oil and gas prices.While some investors were concerned that surging oil prices might have a negative impact on economy, some others believed the boost in sales and inventories in January hinted that the economy could withstand the impact.The Dow Jones industrial average lost 1.29 points, or 0.01 percent, to 12,213.09. The Standard & Poor's 500 Index was down 1. 80 points, or 0.14 percent, to 1,320.02. The Nasdaq declined 14.05 points, or 0.51 percent, to 2,751.72.
XI'AN, March 31 (Xinhua) -- Archeologists in the northwestern Shaanxi Province confirmed Thursday, after weeks of lab work, that the bones they found in a bronze cooking vessel from a 2,400-year-old tomb belonged to a male dog under a year old.Altogether 37 bones were found in the cooking vessel, which was unearthed in November 2010 from a tomb near the Xianyang International Airport in the suburbs of Xi'an, said Liu Daiyun, a researcher with the Shaanxi Provincial Archeological Institute."When we opened the 20-cm tall cooking vessel, we were shocked to find bones and soup inside," said Liu.The bones and soup had all turned greenish, similar in color to the bronze container, he said.Cooking vessels were a typical offering Chinese once presented to their deceased ancestors, said Liu.The custom became prevalent around the Warring States Period (475 - 221 BC), the time Liu and his colleagues believed this dog stew was offered.Hu Songmei, a researcher who did most of the lab work to identify the bones, said they found the bones were "strikingly similar" to four complete sets of canine skeletons preserved at the institute's lab.The newly found bones, however, were smaller, indicating the dog was just a pup, said Hu.Hu said further lab work was needed to tell the exact species of the canine. "Dogs were domesticated by humans at least 10,000 years ago, but the early dog species that evolved from wild wolves could be very different from today's pet dogs."Besides the dog bones, experts also found a wine-like liquid in another airtight kitchen ware from the same tomb. "Whoever the tomb owner was, he must have loved liquor and meat, so his sons wished he could still enjoy the feast in his grave."
KUNMING, March 13 (Xinhua) -- Local authorities said all earthquake victims had found shelter after nearly 9,000 tents were set up in the earthquake-hit Yingjiang County in southwest China.Altogether 53,000 people are being housed in large-sized tents erected in county plazas and village squares, said Jiang Zhaogang, spokesman with the rescue headquarters.Others moved in with friends, relatives, or makeshift houses for temporary accommodation, said Jiang.A 5.8-magnitude quake struck Yingjiang County in southwest China's Yunnan Province Thursday, leaving 25 dead and 314 injured. The tremor also toppled the homes of 1,039 families and left 4,994 others seriously damaged.As of Sunday, the central and local governments in Yunnan have disbursed 10,000 tents, 15,000 quilts and 15,000 coats for the homeless victims in the quake-hit region.White coated medical personnel patrolled and disinfected the tents every day, and no sign of epidemics have been detected.In one tent area, a local medical team was brewing traditional herbal juice for disease prevention, while residents lined up before the steaming wok with bowls, bottles, and even wash basins at hand."I invented this herbal brew especially for the disaster victims, which can help prevent flu and alleviate rheumatic pains," said Chen Benshan, an experienced practitioner of traditional Chinese medicine.Though the rebuilding of the county has not been put on schedule, less damaged schools are expected to resume classes on Monday."We want to start counseling classes as soon as possible to help the children recover from the terror of the earthquake," said Jin Xiasi, a member of the local rescue team.