China publishes guidelines for county-level hospital reform

 

 

 

 

 

>>  China questions U.S. linking of China with Crimea-style action

By Wang Huihui

China on Friday of April 4 questioned the intention of Daniel Russel, U.S. assistant secretary of state for East Asia, as Russel warned China not to attempt Crimea-style action in Asia.

Russel reportedly said on Thursday Russia’s annexation of Crimea had heightened concerns among U.S. allies in the region about the possibility of China using force to pursue its claims and the U.S. was committed to defending its Asian allies.

China has repeatedly made its stance clear on the situation of Ukraine or the South China Sea, Foreign Ministry spokesman Hong Lei said at a daily news briefing.

“As to why the U.S. official is deliberately linking the two issues and making it a story about China, you can go and ask him,” Hong said when responding to a journalist’s question.

 

 

 

 

 

>>  Japan approves new textbooks claiming China’s Diaoyu Islands

By Zhu Chao

Japanese government on Friday of April 4 approved new elementary school textbooks claiming the disputed Diaoyu Islands as part of Japan’s territory, arousing strong denunciation from China immediately.

The revised textbooks, which will be used from the next academic year starting April 2015 for fifth and sixth grade students, won approval from Japan’s Education Ministry.

All social studies textbooks approved for use in Japanese elementary schools next year will mention the Diaoyu Islands known as Senkaku islands in Japan, according to Japan’s Asahi Shimbun daily.

Seven of the 14 textbooks submitted for screening clearly state that the Diaoyu Islands are “inherent territories of Japan,” the paper said.

Chinese Foreign Ministry spokesman Hong Lei urged Japan to stop provocations and teach correct historical views to young people.

“Japan should tell its next generation true facts about the Diaoyu Islands that they are China’s and they were illegally stolen,” Hong told a press briefing.

He added that China was extremely concerned about a Japanese Foreign Ministry policy paper, which also claimed the islands as Japan’s.

Hong reiterated that China’s stance on its relations with Japan was consistent and clear.

The tough situation of bilateral relations was caused by repeated provocation by the Japanese side on issues regarding history and the Diaoyu Islands, he said.

“We urge the Japanese side to honestly face up to and reflect on its history of militarist aggression and stop infringing upon China’s territorial sovereignty,” he said, calling on Japan to correct its mistakes by concrete actions.

The Diaoyu Islands in the East China Sea have been an inherent part of Chinese territory since ancient times.

Japan occupied them during the Sino-Japanese War in 1895. After World War II, the Diaoyu Islands were returned to China in accordance with such international legal documents as the Cairo Declaration and the Potsdam Proclamation. They have been under Japan’s administrative control since 1972 but the fact that they are China’s inherent territories will never change.

In addition, the textbooks all lay claim to the Takeshima island chain, known as the Dokdo in South Korea, which is at the center of a territorial dispute between Tokyo and Seoul.

In contrast, there is only one textbook for fifth graders currently mentions the Takeshima and Senkaku islands.

 

 

 

 

 

 

>>  China slams Japan’s “Diplomatic Bluebook for 2014″

By Zhang Yi

China on Friday of April 4 expressed deep concern and strong dissatisfaction over Japan’s outrageous claim of the “China Threat” laid through its “Diplomatic Bluebook for 2014″.

Chinese Foreign Ministry spokesman Hong Lei said at a regular press briefing that the bluebook made groundless accusations against China and maliciously depicted China as a threat.

“Japan has deliberately made provocations and sought excuses for military expansion, aiming to serve its domestic political pursuit,” Hong said, adding that the international community should be highly alarmed.

He noted that it is Japan itself that stirs up troubles on the Diaoyu Islands and the East China Sea.

Japan can never change the fact that the the Diaoyu Islands belong to China and will not shake China’s firm determination to safeguard national territorial sovereignty, Hong said.

He urged Japan to correct its attitude and stop provocative remarks and actions that might damage China’s sovereignty and legitimate rights.

“Japan should educate their next generations with a right view on history. Tell them the truth about the Diaoyu Islands in the textbooks and let them know the islands belong to China,” the spokesman said.

 

 

 

 

 

 

>>  China urges Japan’s efforts on improvement of ties

By Hou Lijun

Foreign Ministry spokesman Hong Lei on Friday of April 4 again urged Japan to make serious efforts for the improvement of bilateral relations.

Hong made the remarks in response to some Japanese media reports at a regular press briefing.

Some Japanese media reports said China has set preconditions for summit talks between the two countries, which requires a public commitment by Japanese Prime Minister Shinzo Abe on not visiting the Yasukuni Shrine during his tenure.

Other media reports said China has turned its pressure against Japan from territorial disputes to historical issues.

Hong reiterated that China’s stance on its relations with Japan was consistent and clear.

The tough situation of bilateral relations was caused by repeated provocation by the Japanese side on issues regarding history and the Diaoyu Islands, he said.

“We urge the Japanese side to honestly face up to and reflect on its history of militarist aggression and stop infringing upon China’s territorial sovereignty,” he said, calling on Japan to correct its mistakes by concrete actions.

 

 

 

 

 

 

>>  Chinese tourists to grow by 10 to 15 pct this year in Catalonia

By Vera

The region of Catalonia, located in the northeast of Spain and whose capital is the well-known city of Barcelona, is expected to receive between 10 percent and 15 percent more Chinese visitors in 2014, the Director of the Catalan Tourism Agency Xavier Espasa told Xinhua on Friday of April 4.

Espasa explained that the Agency expected this increase in the number of Chinese visitors after this region received around 140,000 Chinese tourists in 2013.

“Around 2 million Chinese tourists visit Europe, of which Spain receives 10 percent, 200,000 more or less. Catalonia receives around 70 percent of the 200,000″, he explained.

The Catalan Tourism Agency established a center to promote tourism in Beijing in 2006 and thanks to that, the number of Chinese tourists who chose Catalonia as their destination has significantly increased.

The strategy consists of emphasizing especially the luxury sector and the MICE sector, which refers to meetings, incentives, conferences and exhibitions.

There is also “an online course for Chinese intermediaries and agents so that they can know better our destination, Catalonia”, Espasa said.

The Director told Xinhua about the most promoted areas: “culture is promoted by the agency, but they are also focused on privilege tourism, Gaudi and Miro,” he named as examples.

Espasa said that “the Chinese market is important” and stressed the importance of events such as the Mobile World Congress (MWC) held in the city of Barcelona and the motor sport race Circuit de Catalunya, which is held near the city.

“These events are important to the business world, as well as other events of the same kind,” he said.

Espasa took part on Friday in the opening of a Conference held in the International Tourism Show in Catalonia (SITC) that is being held from April 4 to 6 in the Mediterranean city.

The conference, organized by the Catalan Tourism Agency, is a platform for companies and centers of tourism to exchange ideas on source markets.

 

 

 

 

 

 

>>  Pakistani PM to participate in Boao Forum

By Chen Peng

Pakistani Prime Minister Nawaz Sharif will participate in the 2014 Boao Forum for Asia (BFA) to be held in China’s southern Hainan Province from April 8 to 11, the Foreign Ministry said in a statement on Friday of April 4.

The prime minister will deliver a speech at the opening plenary of the BFA on April 10, which will be inaugurated by Chinese Premier Li Keqiang, the statement said.

Sharif will also make a keynote speech at a seminar on ” Reviving the Silk Road”, which will be attended by the leaders of China, Iran and Kazakhstan, the Foreign Ministry said.

Besides attending the forum, Sharif will hold a bilateral meeting with the Chinese premier, the statement said.

The BFA’s themes are centered on the pursuit of win-win cooperation in Asia. The international profile of the forum has risen rapidly, as it attracts a growing number of important political and corporate leaders from around the world with every passing year. The theme of this year’s BFA is “Asia’s New Future: Identifying New Growth Drivers.”

 

 

 

 

 

 

>>  China to hold academic conference on geodesy, geophysics

By Zuo Yuanfeng and Yu Xiaojie

An academic conference on geodesy and geophysics is scheduled for October 25 and 26 in Beijing’s China University of Geosciences to shed light on global sustainable development.

With the theme of “From global changes to future Earth,” the event will be jointly hosted by the Chinese National Committee for International Union of Geodesy and Geophysics (IUGG) and the Academic Division of Earth Sciences under the Chinese Academy of Sciences (CAS).

Organizers said at Friday’s press conference that they will invite nearly a thousand domestic and foreign academics and experts to deliver reports concerning eight major fields such as geomagnetism and aeronomy, hydrology, meteorology and atmospheric sciences and seismology.

“(The conference) focuses on global sustainable development with multi-disciplinary researches and aims to provide scientific evidence for government decision-making and bring more knowledge to the public,” said CAS academic Wu Guoxiong, also president of the academic committee for the conference.

According to Wu, the event will also unveil some new technology and products.

 

 

 

 

 

 

>>  Chinese VP meets CELAC Quartet delegation

By Bai Jie

Chinese Vice President Li Yuanchao on Friday of April 4 met with a delegation of the Quartet of the Community of Latin American and Caribbean States (CELAC) on seeking closer China-Latin America ties.

Li said China is willing to work with CELAC to push forward the establishment of a comprehensive mechanism of cooperation centered on the China-CELAC forum, and further promote the development of China-Latin America comprehensive cooperative partnership, which features equality, mutual benefit and common development.

He called for more efforts on enhancing both sides’ capability to address crisis so as to advance world peace and stability.

The CELAC, established in December 2011, comprises the 33 countries of the western hemisphere with the exception of the United States and Canada.

The Quartet comprises the current rotating chair of the CELAC, its previous rotating chair and its next rotating chair — Costa Rica, Cuba and Ecuador, respectively — as well as representatives from the Caribbean Community.

The delegation, led by Costa Rican Foreign Minister Enrique Castillo, also include Cuban Vice Foreign Minister Abelardo Moreno, and Ecuadorian Deputy Foreign Minister Leonardo Arizaga.

They were here for a two-day official visit at the invitation of Chinese Foreign Minister Wang Yi.

 

 

 

 

 

 

>>  Chinese FM meets CELAC Quartet delegation

By Hao Yalin

Chinese Foreign Minister Wang Yi on Friday of April 4 held talks with a visiting delegation of the “Quartet” of the Community of Latin American and Caribbean States (CELAC).

Wang said China attached high importance to relations with CELAC, which is playing a more and more important role as a regional dialogue coordination mechanism.

He pledged China’s active efforts to promote the preparation of a China-CELAC forum.

Wang said the establishment of the forum conforms to the global trend of multi-polar and regional cooperation, and helps China and Latin American countries strengthen equal and reciprocal cooperation, and maintain the common interests of developing countries.

The foreign delegates vowed to continue to play an active role of coordination, promote Latin America-China cooperation and the south-south cooperation.

The Quartet comprises the current rotating chair of the CELAC, its previous rotating chair and its next rotating chair — Costa Rica, Cuba and Ecuador, respectively — as well as representatives from the Caribbean Community.

The Quartet is visiting China from April 3 to 4 at the invitation of Wang.

 

 

 

 

 

 

>>  Chinese FM holds talks with counterpart of Costa Rica

By Hao Yalin

Chinese Foreign Minister Wang Yi met with his Costa Rican counterpart Enrique Castillo on bilateral ties on Friday of April 4.

Wang spoke highly of the comprehensive and fast growth of China-Costa Rica relations since the two countries established diplomatic relations seven years ago, and appreciated the firm adherence of Costa Rica to the one-China policy.

He said China was ready to deepen its cooperation with Costa Rica on the basis of mutual trust, reciprocity and mutual assistance, and promote bilateral cooperation projects in such areas as energy, infrastructure construction and special economic zones planning to achieve positive progress, so as to help the bilateral ties continue to develop within a sound and stable track.

Castillo said it is a steady strategic choice of the government of Costa Rica to develop friendly relationship with China. Costa Rica will work with China to strengthen their communication, expand cooperation and push forward the bilateral ties and relationship between Latin American countries and China.

Castillo is leading a delegation of the “Quartet” of the Community of Latin American and Caribbean States in their China visit from April 3 to 4 at the invitation of Wang.

The Quartet comprises the current rotating chair of the CELAC, its previous rotating chair and its next rotating chair — Costa Rica, Cuba and Ecuador, respectively — as well as representatives from the Caribbean Community.

 

 

 

 

 

 

>>  China, Netherlands agree to enhance military cooperation

By Yang Yijun

Chinese military leaders on Friday of April 4 met with visiting Dutch Defense Minister Jeanine Hennis-Plasschaert to promote bilateral cooperation in a broader way.

Xu Qiliang, vice chairman of the Central Military Commission, told Hennis-Plasschaert that the People’s Liberation Army is ready to enhance cooperation with the Dutch armed forces to promote bilateral ties to a higher stage.

Praising President Xi Jinping’s recent visit to the Netherlands, Xu said the consensus between the two countries to build an open and pragmatic partnership for comprehensive cooperation will strongly push forward bilateral relations.

Hennis-Plasschaert said her visit to China is short but very impressive, stressing the Dutch armed forces are willing to strengthen cooperation with the Chinese armed forces in various areas.

State Councilor and Defense Minister Chang Wanquan held a welcoming ceremony for Hennis-Plasschaert. During their talks, Chang said the Chinese side is willing to work with the Dutch side to promote exchanges at various levels and cooperation in more fields.

Hennis-Plasschaert said it is important for the two sides to enhance mutual communication and understanding so as to push forward bilateral cooperation in a pragmatic way.

 

 

 

 

 

 

>>  Over 80 officials investigated for graft

By Ren Ke

More than 80 Chinese officials have been investigated in a disciplinary inspection launched by the Communist Party of China (CPC) last May, said the website of the CPC’s flagship newspaper on Thursday.

Citing information released by the authorities, the website of the People’s Daily said the investigated officials come from 13 places and various levels, including nine at vice-ministerial level and above.

Many of the officials were investigated based on clues found by inspectors, according to the report, which said that five vice ministerial-level officials were probed on these grounds.

Since May 2013, the Central Discipline and Inspection Commission (CCDI) of the CPC has run two rounds of inspections, sending high-level officials to provincial regions, ministries, state-run institutions and centrally administered state-owned enterprises.

Early this week, the CCDI announced the kick-off of the third round of nationwide discipline inspections since the CPC’s leadership transition in 2012. It covers 10 provincial-level areas and four other units.

The inspections are part of the CPC’s effort to crack down on rampant corruption. President Xi Jinping has vowed to go after both powerful “tigers” and lowly “flies,” warning that the issue is so severe that it threatens the Party’s survival.

 

 

 

 

 

 

>>  Two officials in NW China province probed over bribery

By Zhong Qun and Wang Bo

Two officials in northwest China’s Gansu Province are under investigation on suspicion of taking bribes, a procuratorate statement said on Friday.

Ma Zongming, 49, secretary of the county committee of the Communist Party of China of Guanghe, and Feng Guangmin, 44, former government head of Xifeng District in Qingyang City, are both suspected of taking bribes, according to the statement issued by the People’s Procuratorate of Gansu.

The latter is also suspected of possessing a large amount of unexplained property, the statement said.

Further investigation into the cases is under way.

 

 

 

 

 

 

>>  China publishes guidelines for county-level hospital reform

By Tian Ye

China will push forward reform in more county-level hospitals this year amid a broader scale overhaul of its health care system launched in 2009.

According to a set of government guidelines released on Friday, medical reform will be expanded from 311 county-level public hospitals to more than 1,000 this year, covering 50 percent of Chinese counties.

Authorities will ensure the optimal distribution of medical resources, establish a scientific subsidy mechanism, and regulate the price of drugs and medical services, according to the guidelines, which were jointly released by five government organs including the National Health and Family Planning Commission(NHFPC).

A NHFPC spokesman said in a written interview that the reform also aims to improve public hospitals’ management, and set up a payroll and human resources system that suits the medical sector.

Doctor-patient conflicts are common in China’s public hospitals, which provide 90 percent of the country’s medical services.

Patients often complain of high bills and poor quality services. Doctors complain of heavy stress and low salaries. Doctors often over-prescribe to make profits for public hospitals and obtain bonuses.

Full scale reform of the health care system got underway in 2009. Pilot projects for public hospital reform were a priority, along with a basic medical security system, improvement at grass roots level and equal access to basic public health services.

 

 

 

 

 

>>  Guizhou to build 800 nurseries for “left-behind” children

By Zhong Qun and Wang Chengcheng

Southwest China’s Guizhou Province is to establish 800 nurseries for “left-behind” children, to ease their psychological problems caused by the absence of parents.

The nurseries, to be built in rural boarding schools, are expected to be completed before the end of 2014, the Guizhou education department said in a statement on Friday. The special homes will provide areas for reading, surfing the Internet and making phone calls to parents, in addition to playgrounds and exercise equipment, the statement said.

The nurseries will help create a better environment for their healthy growth by providing good physical conditions as well as sufficient psychological intervention, the statement said.

The education department will award 20,000 yuan (3,220 U.S. dollars) to each nursery that operates well in the future, it added.

“Left-behind” children are those who remain in rural homes while their parents go to work in cities. The children are usually taken care of by their grandparents or other relatives.

According to a report by the All-China Women’s Federation in May 2013, the problems facing left-behind and migrant children, including lack of family closeness, security, protection and educational opportunities, have been relieved but have not yet been resolved, and new problems keep emerging.

Guizhou had about 2.4 million “left-behind” children in 2013 thanks to the large number of outbound laborers, a report by the Guizhou Academy of Social Sciences showed.

 

 

 

 

 

 

>>  China facing increasing vector-borne disease risk

By Wang Cong

Globalization and China’s increasing exchanges with the outside world have made the country increasingly vulnerable to vector-borne diseases, a disease control expert has said, as part of an international campaign on the issue.

The number of vectors – insects or animals which pass diseases from one person to another – intercepted by Chinese customs, especially those from southeast Asia and Africa, has been on the rise in recent years, said Liu Qiyong with the Chinese Center for Disease Control and Prevention on Thursday, days ahead of World Health Day.

Liu said 90 percent of all malaria cases reported in China in 2013 originated from outside Chinese borders.

Climate change and urbanization have also led to an expansion of vector habitats and has given rise to import risks, he added.

World Health Day, which marks the anniversary of the establishment of World Health Organization in 1948, is celebrated annually on April 7, with a different theme each year, featuring an area of priority in global public health. This year’s World Health Day will focus on vector-borne diseases.

 

 

 

 

 

 

>>  Chinese judiciary vows careful handling of lawmakers’ motions

By Cheng Zhuo

China’s top court and procuratorate have pledged to carefully deal with motions, suggestions and proposals submitted by the country’s legislators and political advisors.

The Supreme People’s Court (SPC) has received 205 suggestions from deputies of the National People’s Congress, China’s top legislature, and 84 proposals from members of the National Committee of the Chinese People’s Political Consultative Conference, the top political advisory body, regarding the SPC’s work this year, according to a document issued on Friday after an SPC meeting on Thursday.

Also, the Supreme People’s Procuratorate (SPP) will handle more than 100 motions, suggestions and proposals this year, said another document issued after the SPP’s meeting.

Most of the suggestions and proposals were about improvements to judicial or procuratorial practices, law applications, judicial interpretation issuance and reform efforts in the judicial system.

Zhou Qiang, head of the SPC, promised to carefully discuss these suggestions and proposals and properly handle them in accordance with laws.

Replies to these suggestions will be published on the SPC’s website to satisfy the public’s right to know, he said, without specifying a time scheme.

Hu Zejun, executive deputy procurator-general of the SPP, told procuratorate agencies to ensure the suggestions and proposals be processed with high quality and efficiency.

Replies to the legislators and political advisors should be specific and clear, and for problems that can not be solved in the short term, sufficient explanations should be offered, Hu said at the SPP meeting.

 

 

 

 

 

 

>>  China concerned over dead and abandoned infants

By Zuo Yuanfeng

China’s health watchdog on Friday released a regulation on the safety of newborns, which orders placing new-borns without guardians under proper care.

The rules on the safety management of newborns, released by the National Health and Family Planning Commission, also orders medical institutions to consult with the mothers or other guardians to confirm the deaths of foetus and infants, and should not treat the bodies as medical waste.

In the case of stillborns or dead infants with infectious diseases, institutions should obtain the guardians’ consent before disposing of the bodies in line with laws and regulations.

The commission noted that the rules improved safety for hospitalized newborns.

Meanwhile, the regulation requires hospital staff to boost their professional skills while calling for adequate preparations of medicines, equipment and workers with expertise during child delivery.

Hospitals were also told to strengthen inspections of hospitalized infants and improve a management system for newborns entering and leaving hospitals.

 

 

 

 

 

 

>>  Xi’an allows 72-hr visa exemptions

By Zhong Qun and Shi Zhiyong

A city in northwest China’s Shaanxi Province will allow 72-hour transit visa exemptions for foreign nationals to make it more accessible to the outside world, local authorities said on Friday.

Foreigners from 51 countries in Europe, America, Oceania and Asia will be able to visit Xi’an, Shaanxi’s capital city, and Xianyang City without visas within 72 hours when they are en route to a third country or region via Xi’an Xianyang International Airport (XXIA), according to a statement issued by the provincial government.

Xi’an is the eighth city in China to embrace the policy, joining Beijing, Shanghai, Guangzhou, Chongqing, Chengdu, Dalian and Shenyang.

The policy, expected to be implemented in the next two or three months, will help ramp up Shaanxi’s opening-up levels, as it provides more convenience for visting foreign nationals, according to the government.

Shaanxi boasts abundant tourism resources, making it a popular choice among inbound and outbound visitors. In 2013, the province received 285 million tourists, 797,000 of whom made their trips via XXIA.

 

 

 

 

 

 

>>  One more human H7N9 case in China

By Xiao Sisi and Cheng Lu

China reported one more human H7N9 virus infection on Friday.

The 62-year-old man from Heyuan City of south China’s Guangdong Province, was confirmed on Thursday to have contracted the virus, according to the Guangdong Provincial Health and Family Planning Commission.

The patient is in a critical condition now and is receiving treatment at a local hospital.

China has reported more than 130 human H7N9 cases this year, including at least 38 deaths.

 

 

 

 

 

 

>>  China’s nuclear power to hit 40 mln kw by 2015

By Zuo Yuanfeng

China’s nuclear power plants will have a total installed capacity of 40 million kw by 2015, Ye Qizhen, an academician with the Chinese Academy of Engineering, has said.

“Coal power has high transportation costs and puts huge pressure on the environment, but nuclear power doesn’t emit pollutants such as carbon dioxide or sulfur dioxide,” Ye said Friday at a press conference.

China currently has 17 nuclear power units running with a total installed capacity of 14 million kw.

Ye estimated that, if the country has 60 million kw of nuclear power capacity in 2020, it will reduce the emission of carbon dioxide by 574 million tonnes per year, or by 6.8 percent.

According to Ye, the National Energy Administration is moving to approve major nuclear power projects and steadily push forward nuclear power construction in coastal regions.

Meanwhile, Zhou Dadi, vice director of the China Energy Research Society, noted that China has been raising its nuclear safety standards and nuclear power has safety guarantees in terms of technology, management and laws and regulations.

 

 

 

 

 

 

>>  China’s external financial assets near 6 trln USD

By Fang Dong, Wang Peiwei and An Bei

China’s external financial assets amounted to 5.94 trillion U.S. dollars at the end of 2013, data from the country’s forex regulator showed on Friday.

The figure was up from 5.21 trillion U.S. dollars in 2012, the State Administration of Foreign Exchange said, while stressing that China will strive to make the balance of international payments at an equilibrium level and prevent the risk of across-border capital flows.

The country’s external liability rose to 3.97 trillion U.S. dollars, while the net external financial assets 1.97 trillion U.S. dollars.

In breakdown, China’s foreign exchange reserves stood at 3.88 trillion U.S. dollars, accounting for 65 percent of the total assets. The outbound direct investment (ODI) took up 10 percent, the securities investment 4 percent and other investment 20 percent.

As for liabilities, foreign direct investment (FDI) in China rose to 2.35 trillion U.S. dollars, making up 59 percent of total assets. The investment in securities and other aspects took up 10 percent and 31 percent, respectively.

SAFE also unveiled China’s current account surplus reached 182.8 billion U.S. dollars in 2013, down 15 percent from the previous year; the the surplus in capital and financial account went to 326.2 billion U.S. dollars, contrasted with a 31.8 billion deficit in 2012.

China’s current account balance improved in the last year, as its surplus to GDP fell 0.6 percentage point year on year to 2 percent, a reasonable level resulting from the growth mode, restructuring and adjustment of economic external policy.

The balance of international payments and exchange rate of the yuan are approaching an equilibrium, SAFE said.

In 2013, China’s international reserve assets increased by 431.4 billion U.S. dollars, while the reserve assets in foreign exchange rose by 432.7 billion U.S. dollars, 334 billion U.S. dollars more from the increase in 2012.

 

 

 

 

 

 

>>  Macao’s resident deposits down in February

By Lin Juan

Macao’s resident deposits in February decreased 0.7 percent from the previous month to 447.2 billion patacas (55.99 billion U.S. dollars), according to the figures released on Friday by the Monetary Authority of Macao.

Of the resident deposits, pataca deposits and HKD deposits decreased at respective rates of 0.2 percent and 2.5 percent, while other foreign currency deposits grew 2.7 percent, the figures indicated.

As for non-resident deposits, the value grew by 3 percent month- to-month to 194.8 billion patacas (24.39 billion dollars) in the period, of which public sector deposits with local banking sector increased by 1.4 percent to 84.6 billion patacas (10.59 billion dollars), according to the DSEC.

As a result, total deposits with the banking sector increased by 0.5 percent from the previous month to 726.6 billion patacas ( 90.97 billion dollars) in February, with the shares of pataca and HKD in total deposits standing at 18.8 percent and 41.6 percent respectively, the DSEC also said.

 

 

 

 

 

 

>>  Chinese shares close higher Friday

By Zhang Xu

Chinese shares rebounded on Friday, with shares related to farm herbicides particularly strong due to spring ploughing being on the horizon.

The benchmark Shanghai Composite Index went up 0.74 percent, or 15.13 points, to finish at 2,058.83.

The Shenzhen Component Index gained 0.96 percent, or 69.80 points, to close at 7,367.80.

Combined turnover on China’s two bourses shrank to 146 billion yuan (23.72 billion U.S. dollars) on Friday from 149.42 billion yuan on the previous trading day.

Twenty-four shares gained over 8 percent and 18 shares hit the daily increase limit of 10 percent, while only four shares dropped by more than 5 percent.

Last year, the Ministry of Environmental Protection issued regulation to limit use of the herbicide glyphosate, dampening demand for it. But related shares surged 4 percent as spring ploughing is set to boost demand once more.

Nonferrous metals sector performed strongly, with two shares up 10 percent. China Minmetals Rare Earth surged 9.99 percent to 19.59 yuan per share.

High-tech shares also led the increase, as Guangdong Goworld rose 8.99 percent to 12 yuan per share and Chengdu B-ray Media gained 6.35 percent to 11.56 yuan per share.

Bucking the trend, the oil and transportation equipment sectors declined. Sinopec Shanghai lost 1.67 percent and China CNR, one of the country’s largest train makers, dipped 0.62 percent to 4.78 yuan per share.

The ChiNext Index, a NASDAQ-style board tracking China’s growth enterprises, gained 1.55 percent, or 20.56 points, to end at 1,346.74 points.

 

 

 

 

 

 

>>  China regulates preferred stocks information disclosure

By Han Qiao

China’s securities regulator on Friday unveiled rules regarding information disclosure for preferred stocks, marking another step towards the introduction of the new type of stocks.

The China Securities Regulatory Commission (CSRC) said preparing a stock issuance plan and a prospectus are regulatory requirements.

Stock issuance plans should contain such information as the amount of preferred stocks to be issued, the price, the yield and the stock buy-back terms, said the CSRC.

They should also describe the purpose of the issuance, and summarize opinions of the board of directors on the stock issuance.

According to the commission, the prospectus should highlight risk factors and be published on designated websites so that it can help investors make informed decisions.

Preferred stocks, along with common stocks are the two primary types of stocks that companies offer to investors. Preferred stock holders have priority rights over common stock holders in relation to distribution of profits and residual assets, but they do not have voting rights.

Analysts believe preferred stocks will open up additional financing channels for Chinese companies and provide more investment instruments for investors.

 

 

 

 

 

 

>>  Xuzhou Zhongsen bond default an “individual case”

By Lin Jianyang

The default on private bonds issued by Xuzhou Zhongsen will be handled in accordance with market rules, China Securities Regulatory Commission (CSRC) said on Friday.

In a post on its Weibo microblog, the CSRC said it has required the bond issuer, broker and insurer to fulfill their responsibilities to investors.

Xuzhou Zhongsen Tonghao New Board Company in East China’s Jiangsu Province, which manufactures construction materials, has missed an interest payment of some 18 million yuan (2.9 million U.S. dollars) on its 180 million yuan privately-placed bonds, according to media reports, the second default by a Chinese company in less than a month.

Last month, solar cell manufacturer Shanghai Chaori Solar Energy Science and Technology Co. failed to pay the full 89.8 million yuan interest due March 7, the first default of a publicly-traded bond in China’s onshore market since 1997.

The CSRC said Xuzhou Zhongsen, which is operating normally, failed to pay its bond interest because of a liquidity problem.

According to the CSRC, Hualong Securities, manager of the Xuzhou Zhongsen bond, had asked bond insurer Sino-capital Guaranty Trust Co., Ltd to pay the interest on behalf of Xuzhou Zhongsen within 30 working days.

Rating agency Moody’s said the Xuzhou Zhongsen default would not reduce the ability of rated Chinese mainland non-financial companies to obtain funding.

Most of the Chinese mainland companies rated by Moody’s will maintain access to multiple funding sources and Moody’s sees little effect from any tightening that may occur in the onshore bond market following the defaults, said Moody’s analyst Hu Kai.

The latest default, however, highlights the challenges facing small and medium companies as economic growth has slowed and the government allows market forces to play a larger role in the economy, Hu said.

“The government and state-owned banks did not step in to bail out the defaulting companies, as they have done in the past.”

The lack of intervention was consistent with the central government’s adoption of more market-oriented policies, which include increased tolerance of bond defaults, as it reforms the country’s financial markets, he said.

“We believe the defaults will cause lenders to look more closely at the credit quality of companies,” Hu added.  

 

 

 

 

 

 

>>  Audi reports record Q1 sales in China with double-digit growth

By Zhu Sheng

German car producer Audi AG reached the best first quarter of its history in China, Audi said Friday in a statement.

A total of124,520 Audi automobiles sold in the first quarter on the Chinese market, up 21.1 percent compared with the same period last year, according to the statement.

In addition, the models produced in Changchun, the Audi A4 L, A6 L, Q5 and Q3, reached a new record of 103,113 cars, an increase of 21 percent year on year.

Luca de Meo, member of the board of management of Audi for sales and marketing, contributed the additional growth to Audi’s locally produced models Audi A3 Sportback, which was launched this March, and A3 Sedan, which will start in the summer.

The company had expanded significantly throughout China last year, opening a new dealership every week to increase its sales outlets to more than 340 in over 150 cities.

Audi is about to expand its sales and service network to more than 500 dealerships by 2017, it said.

 

 

 

 

 

 

>>  Mother cuts off son’s fingers

By Zhong Qun and Zhu Yi

A woman in Shanghai was detained after she cut off her son’s fingers during a fight with her husband, local police said on Friday.

The woman, surnamed Sun, chopped three fingers off her eight-year-old son when she was quarrelling with her husband over trivial things on Wednesday afternoon, according to the public security bureau in Qingpu District.

Further investigation is under way.

 

 

 

 

 

 

>>  Residents buried as building collapses in east China

By Yue Deliang and Li Baojie

A residential building in the city of Fenghua in east China’s Zhejiang Province collapsed Friday morning, local authorities said.

One people has been rescued and more are believed to be buried in the debris.

The rescue operation is still under way.

 

 

 

 

 

 

>>  12 buried NE China workers all alive

By Han Xiaojing, Duan Xu and Zong Wei

Twelve workers trapped under a collapsed tunnel in northeast China’s Jilin Province for two days are all alive and in good condition, local authorities said on Friday.

A high-speed rail tunnel under construction in Hunchun City collapsed at about 2 a.m. on Wednesday when 12 workers were pouring concrete to reinforce it.

Rescuers got in touch with and delivered food to the trapped workers at 1:55 p.m. on Friday through a passage they bored to the collapsed tunnel.

Rescue work is ongoing, and police are investigating the cause of the accident.

 

 

 

 

 

 

 

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