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HAICHENG, Liaoning: The death toll has risen to 10 following the collapse on Sunday of a dam at an iron mine in Liaoning Province, after rescuers retrieved four more bodies Monday.Rescuers search the missing after the collapse of a dam at an iron mine in Shiqiaozi village of Haicheng, Northeast China's Liaoning Province November 26, 2007. Ten, including a child, has been confirmed dead and another three are still missing. [Xinhua]Zhang Xingdong, vice-mayor of Haicheng and head of the rescue team, said the bodies, including one of a child, were buried deep in silt.He said about 750 people, including soldiers, armed police, local officials and villagers, were continuing to search for three people still missing after the dam collapsed in the village of Shiqiaozi in the city's Ganquan township.More than 30 dredgers have also been employed to help clear the silt, he said."To ensure the safety of rescuers, we have sent experts to closely monitor four other iron tailings dams nearby to guard against possible further accidents," Zhang said.The four dams have a registered capacity of about 1 million cu m of waste ore each.The power supply has yet to be turned back on in Xiangyang, which is one of two low-lying villages hit by a large volume of mud-like debris after the collapse, he said.The debris smothered homes, suffocating and crushing those inside, he said.A further 17 people were injured in the accident and are now in hospital. One is in a critical condition, while three others were also seriously hurt.Doctors have said they are expected to pull through, however.The local government has set up its rescue headquarters at the primary school in Xiangyang village. It has also provided candles, quilts, clothes and food to villagers made homeless.Some were housed overnight in a local school, while others stayed with relatives.Xiangyang, which has a population of about 980, was the worst-hit by the debris, with 33 houses destroyed.The collapse also affected the village of Caijia, which is home to some 500 people. No casualties have been reported there, but there have been reports of severe damage to houses, vehicles and grain fields.The 100-m-long by more than 10-m-high dam was situated on a hillside. A crack more than 10 m long appeared in it and a river of waste ore and mud some 80 m wide spilled down across cropland.With a capacity of 150,000 cu m, the dam, which belongs to the Dingyang Mining Co Ltd, an iron ore producer, was designed to contain waste ore. However, over recent years, a large quantity of water had built up inside it, Zhang said.The mining company is a subsidiary of the privately run Xiyang Corporation, a magnesium refractory products and fertilizer producer based in Liaoning.Xinhua

BEIJING - China's National People's Congress (NPC),the top legislature, published on Friday a list of all its new deputies.The Standing Committee of the 10th NPC confirmed the qualifications of all deputies to the 11th NPC at its last session on Thursday, making way for the upcoming election of a new Chinese leadership.Among all the 2,987 deputies were Chinese President Hu Jintao, and the other eight members of the current Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang.They were elected respectively from provincial-level areas of Jiangsu, Anhui, Gansu, Beijing, Sichuan, Shanghai, Liaoning, Hunan and Heilongjiang.All the deputies will attend the upcoming First Session of the 11th NPC, which is set to open on March 5.The deputies were elected from 35 electoral units across China, including all provinces, autonomous regions and municipalities, the Hong Kong and Macao special administrative regions, and the People's Liberation Army (PLA).

Reduced bank deposits by Chinese households suggest that a large amount of money is being invested in the capital market, according to the central bank. Household deposits decreased by 167.4 billion yuan (.7 billion) in April. In contrast, they increased by 60.6 billion yuan (.9 billion) at the same time last year, the People's Bank of China said on its website yesterday. The high growth rate of M1 a narrow measure of money supply that includes cash and demand deposits plus diminishing household deposits suggests Chinese households are keeping money on tap for investment in the capital market. The red-hot stock market has grown by more than 50 percent this year after doubling last year. Stock mania is sweeping the country despite warnings of a speculative bubble but small investors are rushing to pull out money from bank savings accounts and deposits to pump them into the share market. Some are even mortgaging their houses or dipping into retirement savings to feed the frenzy. Economists say the government should take steps to moderate the price surge or risk a sharp fall that could hurt millions of small investors. "This is a very critical time. If policy adjustments take place now, the market can still have sustainable development," Hong Liang, a Goldman Sachs economist, told Associated Press. "The longer they wait, the harder the eventual landing will be." Enthusiasm for stocks is fueled in part by a lack of other attractive investments and low interest rates. Some have made fortunes in the booming real estate market, but the government is cracking down on speculation to rein in soaring housing costs. On Friday, the government announced it will raise the amount that Chinese banks are allowed to invest in stocks abroad, possibly diverting some of the money pouring into domestic markets. But economists said the amounts involved will be too small to affect the country's money flows. Regulators have also discussed raising interest rates on bank savings to make them more attractive and creating other new investment options but have announced no timetable. There has also been some talk of imposing a capital gains tax to cool off speculation. The securities watchdog on Friday urged stock exchanges, securities dealers and other authorities to educate investors about the risks of stock market trading. The institutions must make investors understand that stock markets are risky and they should be cautious in entering, especially those who use all their savings or pawn their apartments for loans to invest in stocks, the notice by the China Securities Regulatory Commission (CSRC) said. Saying that the number of "irregularities" in the stock market was rising, the CSRC also told listed companies, securities dealers and other related institutions to release accurate, authentic, complete and timely information.

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An increasing amount of investment capital is flowing from the Chinese stock market to the relatively stable real estate markets in major cities like Shanghai, Beijing and Shenzhen, according to several banks and property consultancies. Low- and medium-level residential properties have been attracting the bulk of the funds diverted from stocks, while luxury residential houses and office buildings are taking in a much smaller share, according to a recent survey by Shenzhen-based Worldunion Properties Consultancy (China) Limited. The survey, which covers 16 real estate projects in Shenzhen, Beijing and Tianjin, estimates that funds diverted from stocks accounted for around 50 percent of the total transactions in low- to medium-priced residential properties from October 2006 to June 2007, 10 to 20 percent in luxury apartments and about the same percentage in office premises. "The volatility of the stock market after the stamp tax hike in late May has also increased the potential risks and reduced the returns of stock investment, prompting many risk-averse investors to shift their focus to the property market," the Worldunion report said. "It can be seen from the weak and uncertain performance of the stock market and the strong performance of property prices in various major cities," the report said. Housing prices in 70 large-and medium-sized cities in China continued to rise in June, up 7.1 percent over the same period last year, while the Shanghai Composite Index dropped 7 percent that month. "From my experience in other markets, the risks of investment in real estate are relatively lower than that in the stock market," said Mao Zhi, a professor at China Real Estate Index Research Academy. Some are even selling their stocks to pay for house loans before the recent lending rate hike of 27 basis points. These funds have indirectly flowed into the real estate market, analysts said. "The interest rate hike is not expected to have a negative impact on the property market. The gap between long-term deposit and lending rates narrowed only 9 basis points after the rate adjustment, showing that the measure is not targeting the real estate market," said Li Maoyu, an analyst at Changjiang Securities. At the macro level, the fund flow trend from stocks to real estate is reflected in the sharp increase in bank loans, economists and market analysts said. According to statistics from the People's Bank of China, the increase of loans outstanding in June alone was 451.5 billion yuan, while it's only 247.3 billion in May. Of the additional increase of 56.6 billion yuan loans from the same time a year ago, 79.9 percent were household loans. "Since the majority of household loans were mortgage loans, it's clear that more funds have been relocated to the property market lately," said Shen Minggao, an economist at Citigroup. "Investments in luxury residential properties also shot up as many investors cashed out of the Shanghai stock market and turned to luxury properties as long-term investments," said Lina Wong, managing director of Colliers, an international real estate service provider. In line with the increased transaction volume, selling price for luxury properties grew 2.7 percent in the first half, compared with 3.5 percent in the past 12 months. The rents also grew 2.9 percent, while it rose 3.8 percent from last June. Worldunion said it's like the two markets are on a seesaw, when "one goes up, the other comes down." The National Bureau of Statistics has announced that China's real estate investment rose 28.5 percent from a year earlier to 988.7 billion yuan in the first half of 2007. "Anticipation of further renminbi appreciation should secure a continuous inflow of foreign capital and help fuel the property market," said Wong of Colliers.

BEIJING - The world's most populous nation began its week-long Lunar New Year holiday on Wednesday, but hundreds of thousands of people will probably spend the biggest festival of the year in the cold and dark.Currently, more than 3,000 people, including electricians, soldiers and armed police are struggling to repair power lines damaged by prolonged snow, rain and sleet to restore the power supply for Chenzhou, a city of about 4 million in central China's Hunan Province, which started its 12th day of power blackouts and water cuts on Wednesday.Staff workers of Hunan Grid repair the collapsed high-voltage power transmission tower in Changsha, capital of South China's Hunan Province, Feb. 3, 2008. [Xinhua] Wednesday marks the eve of Lunar New Year, known as Spring Festival, the most important festival for family gatherings in China with a population of 1.3 billion."Parts of the power lines have been recovered, and power supply will restore gradually for citizens in Chenzhou starting today," said Huang Qiang, vice general manager of the Hunan Electric Power Company under the State Grid Corporation of China.But power service is not expected to be resumed by 6:00 p.m. Wednesday, in eight counties, including Guiyang, Jiahe in Hunan Province, Zixi, Lichuan, Yihuang and Le'an in Jiangxi Province, Pingtang in Guizhou Province and Ziyuan in the Guangxi Zhuang Autonomous Region, the disaster relief and emergency command center under the State Council, China's cabinet, said in a statement late Tuesday.Freak winter weather featuring prolonged snow, rain and sleet since mid-January in China's eastern, central and southern regions has downed power lines, covered roads with thick ice, brought trains, buses and planes to standstill and stranded millions of people.The snow havoc, the worst in five decades, and even in a century in few areas, has led to deaths, structural collapses, blackouts, accidents, transport problems and livestock and crop losses in 19 provinces, municipalities and autonomous regions, according to the Ministry of Civil Affairs.More than 100 million people have been affected, and at least 60 people have died in the freezing weather.

China's employers have dual problems on the hiring front as they face the biggest salary increases in Asia needed to attract talent and the region's highest turnover, according to a survey.The findings appeared in the Friday edition of the China Youth Daily.Nearly one-third, or 32 percent, of the employers surveyed planned to raise salaries by at least 20 percent to attract badly-need talent, said the survey by human resources company Hudson.The survey covered employers' first-quarter plans and expectations.Year-end bonuses are expected to rise significantly, with 66 percent of the respondents planning to increase year-end bonuses at least 10 percent and almost one-fourth planning raises of more than 20 percent.But despite significant increases in compensation, staffing turnover has been heavy.Across all industries, 47 percent of companies surveyed had turnover rates of more than 10 percent in the past 12 months, and 13 percent said that the rate was more than 20 percent.China's staff turnover rate was highest in Asia, more than twice that of Japan, the Youth Daily report said. Unsatisfactory compensation and limited career progression were blamed for China's high turnover level.Among respondents, 22 percent agreed that limited career progression was a major cause of high turnover, while 18 percent believed it resulted from dissatisfaction over money.The report predicted a persistent increase in salary levels in China because of limited talent resources.

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Chinese President Hu Jintao on Monday launched a campaign to rid the country's sprawling Internet of "unhealthy" content, state television reported. Development and administration of Internet culture must stick to the direction of socialist advanced culture, adhere to correct propaganda guidance," said a summary of the meeting read on the news broadcast. "Internet cultural units must conscientiously take on the responsibility of encouraging development of a system of core socialist values." In January, President Hu made a similar call to "purify" it, and there have been many such calls before. "Consolidate the guiding status of Marxism in the ideological sphere," the party meeting urged, calling for more Marxist education on the Internet. In 2006, China's Internet users grew by 26 million, or 23.4 percent, year on year, to reach 137 million, Chinese authorities have estimated. That lucrative market has attracted big investors such as Google and Yahoo. Authorities have also launched repeated crackdowns on pornography and salacious content. The latest campaign against porn and "rumor-spreading" was announced earlier this month. The meeting also announced that schools and sports groups would be encouraged to use healthy competition as a way to shape youth, the report said. "Sports plays an irreplaceable role in the formation of young people's thinking and character, mental development and aesthetic formation," the meeting declared.

US Treasury Secretary Henry Paulson arrived in Xining in northwest China last night, kicking off a four-day visit to China. US Treasury Secretary Henry Paulson, pictured June 2007, arrived in China on Sunday. [AFP]He is due to visit local environmental protection programs in Qinghai Province, home to Qinghai Lake, the largest salt water lake in China. He will also visit rural households in the remote province on the Qinghai-Tibet Plateau, dubbed the "roof of the world." Paulson, who heads to Beijing on Monday, will meet with government officials to discuss the US-China Strategic Economic Dialogue (SED) launched last year.The forum covers a range of economic and environmental issues, but the issue at the forefront is China's yuan, which is seen by lawmakers in the United States as grossly undervalued. Last week the Senate Finance Committee overwhelmingly approved a bill requiring the Treasury to identify nations with "fundamentally misaligned" currencies, potentially opening the door to economic sanctions against Beijing. But Paulson said Friday that lawmakers were sending the wrong message by threatening to punish Beijing."We would like to see the Chinese move and show more flexibility," he said.Paulson will also hold talks with President Hu over tensions arising from China's swollen trade surplus and other issues. The secretary also is to meet Vice Premier Wu Yi, who leads the Chinese side of the dialogue. The last formal meeting of the economic dialogue in May ended with no progress. Since then, China has announced measures to rein in surging export growth. It repealed rebates of value-added taxes on more than 2,000 types of goods ranging from cement to plastic products in June. Last week, the government said it would limit the growth of its "processing trade," a big but low-profit segment of the economy that imports components and exports finished goods.Paulson was due to leave China on Wednesday.

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China warmly welcomes French President Nicolas Sarkozy on a state visit next month, which will "be a great event for China-France relations", Foreign Minister Yang Jiechi said at a joint press conference with his French counterpart Wednesday.Yang and French Foreign Minister Bernard Kouchner discussed the preparations for Sarkozy's visit, and agreed that it would definitely achieve great results.A lot of agreements will be inked between France and China during Sarkozy's visit in areas such as energy, transportation and education, Kouchner said.The French foreign minister is in China to pave the way for Sarkozy's visit, the first since he assumed presidency in May.During their talks, Yang said China is ready to go along with France to deepen strategic dialogue, expand mutually beneficial cooperation and have closer consultation and coordination on major international issues.The two foreign ministers agreed, as two of the five permanent members of the UN Security Council, to strengthen comprehensive strategic partnership for the benefit of both sides. Such a development will be beneficial to global peace, stability and development, too.On the development of ties between China and the European Union (EU), Yang said their relationship had matured after 30 years of cooperation."The two sides share broad common interests in intensifying mutual political trust, expanding economic and trade cooperation, jointly tackling the challenges of climate change and combating traditional and non-traditional security threat," Yang said.Kouchner ensured Yang that France would double its efforts to solve the pending China-EU problems after his country assumed the rotating presidency of the EU in July 2008.On the Taiwan question, Kouchner said France follows the one-China policy. He said EU foreign policy chief Javier Solana had made a statement on behalf of EU countries opposing Taiwan authorities' attempt to hold a referendum to move the UN for membership. "France supports the position (of Solana)," Kouchner said.Yang and Kouchner also exchanged views on regional and international matters such as the nuclear issues on the Korean Peninsula and in Iran, the situation in Myanmar, climate change and the Darfur and other issues in Africa.

The national workers' union on Wednesday pledged to work closely with authorities to issue a detailed regulation on the Labor Contract Law as soon as possible, to assist its application starting January 1."We'll actively promote and participate in the legislation and relevant legal interpretations to make the law more applicable, especially by making suggestions on some hotly debated issues," Liu Jichen, head of the legal affairs department of the All China Federation of Trade Unions, said at a press briefing.Liu did not elaborate or disclose a timetable, but the Outlook Weekly, a magazine under the official Xinhua News Agency, reported on Monday that an implementation regulation of the Labor Contract Law was expected by the end of the year. It also reported that a judiciary interpretation, drafted by the Supreme People's Court, would also be adopted soon to regulate loophole jumping.The Labor Contract Law, passed in June after 18 months of heated debate and public consultation, is considered the most significant change in the country's labor rules in more than a decade. It targets bosses and officials who exploited workers by establishing standards for labor contracts, use of temporary workers and severance pay.However, business lobbies worry that stricter contract requirements could increase costs and give them less flexibility in hiring and firing.The country's leading telecom equipment-maker Huawei Technologies in October encouraged some 7,000 veteran employees to resign and rehired them immediately afterward.The Labor Contract Law stipulates that an employee who has worked for a company for more than 10 years is entitled to sign an open-ended labor contract.However, the legislative affairs commission of the Standing Committee of the National People's Congress, the country's top legislature, made it clear on Saturday that such sidestepping is useless, because although the contracts end, employment relations still exist.At yesterday's conference, Liu said Huawei's dodge is only one of the three tactics the union discovered violating or circumventing the current Labor Contract Law. Firms would also fire employees and rehire them soon afterward as dispatch workers. The other strategy uses mass layoffs.For example, United States retailing giant Wal-Mart fired about 100 employees at its sourcing center in China last October, claiming the layoff was part of its global restructuring."The cause of these problems is that a small number of enterprises is trying to evade responsibility to optimize profits," Liu said. "We've begun intervening to stop such activities."