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BEIJING, March 25 (Xinhua) -- China's upcoming growth enterprise board for small start-ups to raise funds is no threat to the main stock market, Yao Gang, new vice chairman of the China Securities Regulatory Commission (CSRC), said here Tuesday. His comments followed continuous declines in China's bourses partly caused by fears of capital shortages after a series of restraining measures and huge refinancing. "The market is not short of money but of better and more attractive investment products," said Yao in an online interview. CSRC statistics showed the average market capitalization of the222 companies listed on the Shenzhen small and medium-sized enterprises (SMEs) board was only 300 million yuan. The number would be even lower, ranging from 100 million to 200million yuan, on the growth enterprise board, he said. Therefore the capitalization of listing 100 such enterprises would only match one major enterprise on the Shanghai Stock Exchange, he said. The CSRC began to solicit opinions on the growth enterprise board on March 21. Shang Fulin, CSRC chairman, said in January the board would be opened on the Shenzhen Stock Exchange in the first half of 2008. Lack of finance has been a problem for China's 42 million small and medium-sized enterprises, more than 95 percent of which are privately owned. Less than 2 percent of the SMEs access funds directly from the financial market, according to statistics from the National Development and Reform Commission.
BEIJING -- China's education officials are joining with employment authorities to mount investigations into reports of agencies and individuals who lure minors to work, said the Ministry of Education on Thursday."We have received reports that some agencies and individuals lured minors to work on the pretense of introducing them to part-time jobs or internships," said the ministry in a circular.Education authorities across the country will join with officials who have law enforcement powers in labor departments and commerce and industry administrations to intensify supervision and management to stop illegal employment of minors by agencies and individuals, it said.The ministry asked its local branches and all schools to be aware and report illegal employment to the authorities.Chinese law bans minors under the age of 16 from working and those between 16 and 18 must be given easier and safer work than adult workers.Employers who violate the law can be fined and, if the crime is serious, their business licenses will be withdrawn.In June, private brick kilns in north China's Shanxi Province were found abusing workers, many of whom were underage, in a forced labor scandal.A total of 95 officials in the province have been punished in the wake of the forced labor scandal.The ministry also warned vocational schools not to violate regulations on internships, which ban students from interning during their first year.Most vocational schools in China take in students who finish three years in secondary school, but do not go to high school.In 2004, a private vocational school in southeast China's Jiangxi Province was caught luring first-year students to work full-time in an electronic hardware factory during their summer vacation by promising free tuition.
BEIJING - China's food watchdog issued an emergency circular on Wednesday to ensure food safety in the face of severe winter weather that has blocked transport and endangered supplies in much of central, eastern and southern China.The State Food and Drug Administration (SFDA) ordered all the local food and drug bureaus to tighten inspections of food production and sale facilities so as to prevent inferior or fake food from entering the market.The snow, the heaviest in decades in many places, has been falling in China's east, central and southern regions since January 10, causing building collapses, power blackouts, highway closures and crop destruction.The SFDA ordered all local bureaus to maintain food market order and to prosecute law violations, noting supplies of some foods was already tight.The extreme weather in the past two weeks hit as Chinese travelers began one of the world's biggest annual mass migrations for the Chinese Lunar New Year, or the Spring Festival, the most important festival for Chinese family gatherings.The SFDA also ordered local bureaus to promptly report and tackle emergencies and prevent mass incidents of food poisoning.
The U.S. National Academy of Sciences announced on Tuesday the election of 72 new members and 18 foreign associates in recognition of their distinguished and continuing achievements in original research. The election was held this morning during the business session of the 144th annual meeting of the academy, and brought the organization's total number of active members to 2,025. Foreign associates are non-voting members of the academy. The 18 newly elected, from 12 different countries, brought the total number of foreign associates to 387. Two Chinese scientists, Zhang Qifa and Li Aizhen, were among the new foreign associates. Professor Zhang is the director of National Key Laboratory of Crop Genetic Improvement, Huazhong Agricultural University, in central China's Wuhan. Li is from the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences. The U.S. National Academy of Sciences is a private organization of scientists and engineers dedicated to the advance of science and its use for the general welfare. It was established in 1863 by a congressional act signed by Abraham Lincoln. The act calls on the academy to act as an official adviser to the federal government, upon request, in any matter of science or technology
Many parts of China experienced extreme weather conditions including heatwaves, storms and floods last month, the China Metrological Administration (CMA) said on Friday.Vehicles drive along a flooded street in Guangzhou, South China's Guangdong Province August 14, 2007. Downpours caused flooding in the city and paralyzed local transport. [Xinhua]Data indicated that last month's average temperature reached 21.6 C, 1.1 degrees warmer than usual. This is also the second-highest average temperature since 1951 and only 0.3 degrees lower than last August's average of 21.9 C, said Zhu Qiwen, deputy chief of the disaster forecasting and relief department of the CMA.Northwest China's Qinghai Province was hit by its worst heatwave since 1951, with high temperatures also roasting Beijing, Gansu, Tibet and Inner Mongolia.CMA head Zheng Guoguang said the country has been more frequently hit by extreme weather conditions this year.The conditions match predictions in a weather forecast report jointly published by the CMA, the Ministry of Science and Technology and the Chinese Academy of Sciences.It says that China's average temperature rose by 0.5 to 0.8 degrees in the 20th century. And the extreme weather's frequency and intensity are all under dramatic change.The CMA's list of extreme weather events includes heavy rains and floods in East China's Shandong Province and Northwest China's Xinjiang Uygur Autonomous Region where rainfall increased 50 per cent. The severe flooding also triggered landslides, which resulted in 89 deaths in Southwest China's Yunnan Province.Further north and west, Inner Mongolia Autonomous Region, Shaanxi Province and Chongqing Municipality suffered from ongoing droughts.Other events include lightning strikes that killed 109 and wounded another 43 last month. More than 588,000 people were forced to evacuate their homes in Central China's Hunan Province in the wake of Typhoon Sepat, which has left two people dead and seven missing in the province.