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BEIJING, Jan. 21 (Xinhua) -- A locomotive producer in central China's Hunan province on Friday rolled out a low-cost magnetically levitated (maglev) train that is more environmental-friendly than conventional ones.The three-carriage train is designed to run at a maximum speed of 100 km per hour and carry 600 passengers, said Xu Zongxiang, general manager of Zhuzhou Electric Locomotive Co. Ltd. of China South Locomotive and Rolling Stock Corporation (CSR). Xu said the new train was much quieter than conventional ones. While a conventional train moves forward by using friction between its wheels and the railway tracks, the maglev train replaces wheels by electromagnets and levitates on the guideway. According to Xu, his company's has minimized the risk of the new maglev train derailing or overturning. "It's ideal for mass transportation, as it is quiet and environmental-friendly. Its manufacturing cost is about 75 percent of a conventional light-rail train," said Xu. The maglev train has a minimum turning radius of 50 meters and can easily run in residential communities or on hilly slopes. "It's an ideal public transport option for Chinese cities and major tourist destinations," said Xu. Railway transport specialist Liu Youmei, also an academician with Chinese Academy of Engineering, said the new train is green, economical and safe. "It can be used for public transport in populous areas and at scenic spots with fragile environments." Liu said China is one of a few countries that have applied maglev technology. Beijing is building a maglev route, the Daitai line (S1), which starts at its IT center in Haidian district, passes through Shijingshan district, and ends in Mentougou district on its western outskirts. The line will be operational next year.The eastern metropolitan of Shanghai runs the world's first commercial maglev system on a 30-km stretch between the downtown business district and Pudong airport. The German-made maglev went into operation on Dec. 31, 2002.

BEIJING, Jan. 7 (Xinhua) -- China's financial system is running on a stable course despite the global financial crisis. However, apparent problems and potential risks still linger, as the crisis has not ended, Premier Wen Jiabao said.Wen made the remarks at the two-day National Financial Work Conference that concluded Saturday. The meeting, held every five years, mapped out development plans for the financial sector in the upcoming five years. Similar meetings were held in 1997, 2002 and 2007."China's economy has maintained stable and relatively fast growth with stabilized consumer prices and improvements in people's lives. The financial system is running steadily. The good momentum of economic and social development remains unchanged," Wen said.Chinese Premier Wen Jiabao ( front) attends the National Financial Work Conference in Beijing, Jan. 7, 2012."We have the confidence, capabilities and conditions to move economic development to a new stage," he said.China has resolutely pushed forward a series of financial reforms which have set significant historical milestones. Large commercial banks have remarkably improved their capabilities of guarding against risks, Wen said."We should especially note that the global financial crisis has not ended. We should strengthen our awareness of risks and responsibilities in order to push financial work to new levels," he said.In the future, China will stick to the principal of having the financial industry serve the real economy to prevent virtual bubbles from inflating the economy, he noted.Wen voiced his support for the development of financial innovation, but stressed that this should not escape supervision. "Risk-aversion should be the lifeline of our financial work," he said.He pledged to allow market forces a greater say in deciding fund allocation and to more clearly define the government's role.Financial oversight will be tightened and improved, and banks should establish a more complete and prudent supervision system, he said.According to a statement released after the meeting, China's assets in the financial industry totaled 119 trillion yuan (18.8 trillion U.S. dollars) at the end of November 2011, a 149-percent increase from that at the end of 2006.As of the end of September 2011, the banking capital adequacy ratio stood at 12.3 percent, 5 percentage points higher than that at the end of 2006, while the non-performing loan ratio was 0.9 percent, 6.2 percentage points lower than that at the end of 2006.

BEIJING, Jan. 8 (Xinhua) -- China canceled over one-third of all official ceremonies, seminars and forums last year in a bid to avoid extravagance or corruption in the use of public resources.Some 2,549 such activities proposed by governments or public institutions, or 37.7 percent of the total applications, which were deemed "ceremonial" and "unnecessary," were cut, saving 1.22 billion yuan (about 193.39 million U.S. dollars), said an official statement released Sunday.The statement was issued by the State Council's Office for Rectifying Malpractices, a ministry-level inter-agency supervisory body dedicated to eliminating administrative irregularities and abuse of power in government agencies, public institutions and major service sectors.Last year's inspections focused on activities co-funded by ministries and local governments, the statement said.The Chinese government agreed with the public that the soaring number of official celebrations, seminars and forums would cost plenty of money and manpower and exacerbate corrupt behaviors.In March, the State Council, or China's Cabinet, ordered 98 ministries and ministry-level government organs to make public their budgets and expenditures on official overseas visits, public vehicles and official receptions -- the "three public consumptions" that had triggered widespread public concern.Premier Wen Jiabao also repeatedly urged the country's government agencies to reduce administrative expenses, including cutting the number of meetings and documents printed.Official figures indicate that the country's crackdown on various forms of extravagant spending by officials saved the country 5.7 billion yuan in 2010.A blue book on China's conferences published in November estimated that the total output of the country's conference industry had reached nearly 1 trillion yuan. Companies made up half of this total, while a considerable portion came from the government and public institutions compared to other social organizations.

UNITED NATIONS, Oct. 28 (Xinhua) -- China's progress in meeting a development goal on children's health can serve as an inspiration to other countries working towards the same objective, Dr. Renee Van de Weerdt, chief of maternal, newborn and child health at the UN Children's Fund (UNICEF) told Xinhua in an interview Friday.Van de Weerdt said that "the example of China is very encouraging because it means it can be done, even in a very big country with a very big population."China is on track to meet the fourth Millennium Development Goal (MDG), one of the eight development targets that the international community has pledged to meet by 2015. MDG 4 requires that each country reduce its rate of mortality for children under age five to two-thirds of what it was in 1990.According to Van de Weerdt, most deaths of children under five take place in the first month of life. After the first month, the most prevalent causes of death are pneumonia and diarrhea.ACHIEVING THE GOAL WORLDWIDEThe international community has been doing "relatively well" in working towards achieving MDG 4, Van de Weerdt said.The UN Interagency Group for Child Mortality Estimation (IGME) stated in their 2011 Report on Levels and Trends in Child Mortality that the number of under-five deaths worldwide has dropped from more than 12 million in 1990 to 7.6 million in 2010."We really continue to see progress," Van de Weerdt said. "The number of children that die every year continues to drop so we are really pleased to see that progress. Unfortunately, the progress isn't sufficient to really be able to say that if we continue at this pace we would achieve MDG 4 by 2015."Some regions, according to Van de Weerdt, like Latin America and parts of Asia are making more headway towards the goal than others that are currently lagging behind.

OTTAWA, Oct. 26 (Xinhua) -- Canadians are working about three years longer before retirement than they were in the 1990s, and have a longer life in retirement, an official study said Wednesday.Statistics Canada, the federal statistics agency, reports that Canada' s men and women, who don't face compulsory retirement, are increasingly choosing to delay retirement, as part of a long-term trend that has begun before the recent recession.The trend of later retirement dates back to the mid-1990s, when a 50-year-old employee could expect to work another 12.5 years before retiring from the daily grind.Today, that same 50-year-old worker could expect another 16 years of employment.The study says that 34 percent of Canadians aged 55 and older were employed in 2010, compared to just 22 percent in 1996.A longer working life would unnecessarily imply a shorter life in retirement due to increased life expectancy, the study says.The study notes that men and women leaving the work force today are spending as much time in their post-career life as many of their predecessors did.For example, between 1977 and 1994, the typical retirement length for a man in Canada rose from 11.2 to 15.4 years; as of 2008, it was 15 years.For women, the average retirement length similarly rose from 16.4 to 20.6 years between 1977 and 1996; as of 2008, it was 19 years.From another point of observation, 50-year-old men can expect to spend 48 percent of their remaining years of life in retirement in 2008,compared with 45 percent in 1977.In 2008, 50-year-old women could expect to spend 55 percent of their remaining years of life in retirement, nearly identical to the proportion in 1977.