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Nearly 5,000 officials were punished for squandering public funds in the first half of this year, according to the Ministry of Supervision (MOS).The government took disciplinary action ranging from warnings to dismissal against 4,866 officials from the Communist Party of China and government bodies, after an investigation found their use of funds violated rules.The joint investigation of officials suspected of using public funds for banquets, overseas tours, luxury cars or entertainment was launched earlier this year by the MOS, the Ministry of Finance, National Office of Audit, Government Offices Administration of the State Council and the Ministry of Foreign Affairs.Earlier this month, the Central Commission for Discipline Inspection (CCDI), the Party's graft buster, slammed officials at a local procuratorate for taking an overseas tour on taxpayers' money.Xu Wenai, vice procurator-general of East China's Anhui Province, was removed from his post for wasting public funds on the trip to Finland.A delegation of 10 people from the procuratorate headed by Xu was found to have fabricated an invitation from the Finnish government in November 2006.The CCDI investigation found the delegation also tampered with business travel routes, adding a number of destination countries.The incident caused a nationwide stir, with many provinces considering tighter regulations to screen officials who plan to take overseas trips for international conferences or study.The central authorities have urged government at all levels to implement the country's anti-corruption policies and called on all Chinese officials to avoid wasting public funds.Xinhua-China Daily

China will gradually sell its planned 1.55 trillion yuan (3.6 billion) in special domestic bonds to finance its overseas investment agency, a senior central bank official was quoted on Monday as saying. The country's stock market has been hit by the bond issue plan, approved by China's parliament on Friday, as investors feared such a move would suck funds from the market. "The plan will be carried out gradually according to its monetary policy," Yi Gang, assistant governor of the People's Bank of China, told the Shanghai Securities News. Yi reiterated the Finance Ministry's view that the bond issue would have only a neutral impact on the domestic economy, the newspaper said. The Finance Ministry indicated on its Web site on Friday that it would issue the bonds directly to the central bank in exchange for part of the .2 trillion in foreign currency reserves under the central bank's control. No specific timetable was given for the sale of the bonds, but the increase in this year's debt ceiling suggests they will all be issued this year.

BEIJING - State Forestry Administration investigators found more than 100 suspected footprints of a South China tiger on Friday in Shaanxi Province, where photos of the big cat taken by a farmer have caused a national controversy over their authenticity.A South China tiger [File photo] The Beijing Morning Post reported on Monday that Zhang Bin, a local forestry official who accompanied the investigators, said the team also found a skeleton suspected to belong to a young tiger."It's like the skeleton of a cat," said Zhang, adding the bones had been sent to Beijing for DNA testing. "But experts said with a length of 50 centimeters, a cat would have grown tooth bones. This skeleton hasn't (teeth), it's like a cub feline.""The experts said there is a great probability that it belongs to a South China tiger cub."He said the footprints found in Zhenping County ranged from 12 to 16 cm, with toes. "To my experience in investigating the wild, they are tiger footprints. They belong to more than one tiger."Zhang said the experts had also developed rubbings of the footprints for further analysis.In October, a farmer in Zhenping County, in the northern Shaanxi Province, claimed he snapped photos of a tiger in the forest near his home. The provincial forestry bureau later cited experts as verifying it was a South China tiger. The subspecies was believed to have been extinct in the wild for more than three decades.However, many scientists and Internet users have denounced the pictures as fake. In November, one netizen posted an on-line picture of a tiger from a new year calendar and claimed the two tigers were identical.Despite this, the provincial forestry department insisted the tiger in the photo existed in Zhenping County. The Beijing-based China Photographers Society, however, confirmed the images were not real.Last month, the State Forestry Administration dispatched an expert panel to Zhenping to carry out a field investigation. It hoped to find concrete evidence on whether the tiger existed.The photo taken by Zhou Zhenglong, a farmer in Zhenping County of Northwest China's Shaanxi Province. Zhou claimed he snapped photos of a South China tiger in the forest near his home.

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Foreign investors are eyeing more opportunities as China's demand for oil refining and petrochemicals increases. According to a think-tank affiliated to China National Petroleum Corp (CNPC), China's oil demand will hit 455 million tons while the country's total refining capacity will surpass 400 million tons by the end of the 11th Five-Year Plan period, set from 2006 to 2010. "From this year to 2010, the average annual oil demand of China will grow at 6.5 percent per year. One forecast shows demand reaching 455 million tons in 2010," Gong Jinshuang, a veteran researcher at the Economic and Technology Research Institute of CNPC, China's largest oil and gas producer, said on Friday. According to a national industrial deployment plan, there will be many refineries and ethylene crackers on stream by 2010 and China will witness 18 million tons of ethylene produced by 2010. The country's refineries will run at 90 to 95 percent capacity by 2010, Gong said. Ethylene output of China was 9.41 million tons last year, up 24.5 percent year-on-year. To seize opportunities arising from the downstream sector of the oil industry, not only State-owned giants, but also foreign investors are gearing for more investment. Mustafa Al-Sahan, general manager in charge of China investment at Sabic Asia Pacific Pte Ltd, told China Daily that his firm plans to invest billion to set up an integrated refining and petrochemical project in Dalian, Northeast China. The industrial complex is expected to include a 10-million-ton refinery, a one-million-ton ethylene cracker and an 800,000-ton aromatics plant, according to the blueprint. Al-Sahan said the project will be a joint venture formed by several parties, holding equal stakes. So far, there are already two parties involved, Sabic and a private Chinese company. Sabic is looking for another State-owed energy giant to join, Al-Sahan added. The project is still subject to approval by the National Development and Reform Commission (NDRC), China's top economic planner. Sabic has invested in a petrochemicals plant in Tianjin, in partnership with Sinopec, Asia's top refiner. The Tianjian project has been given the green light by the NDRC and is expected to be on stream by the fourth quarter of next year, the Sabic chief for the investment in China said. CNPC and Sinopec are either planning or expanding their refining and petrochemical projects, such as in Sichuan, Fujian provinces and Guangxi Zhuang Autonomous region, to better meet the country's future fuel and industrial demand. China now is the world's fastest growing major oil market Al-Sahan said the downstream segment of the Chinese oil industry has good potential because of the robust future demand. He said Sabic will not produce gasoline, which is oversupplied in the market, but oil and petrochemicals that are in big demand.

SYDNEY - Chinese President Hu Jintao met here Saturday with Japanese Prime Minister Shinzo Abe, to exchange views on bilateral ties, the nuclear issue on the Korean Peninsular and other issues of common concern.The meeting took place on the sidelines of the 15th Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC) forum. Both China and Japan are APEC members.All-round Sino-Japanese ties currently maintain a sound momentum of improvement and development, which are widely welcomed by both peoples and the international community, Hu said."Sino-Japanese ties are now at a crucial juncture," Hu said, "we should maintain such a sound trend, and push forward the healthy and steady development of bilateral ties."This year marks the 35th anniversary of the normalization of Sino-Japanese ties. Over the next few months, the two countries will host various activities of friendly exchange, Hu said, hoping that the two sides will cooperate and support each other to make these activities a success, in order to enhance the mutual understanding and friendship of both peoples."We welcome Prime Minister Abe to visit China again this year, and hope both sides will make good preparations to ensure the visit achieve positive results," Hu told Abe.Abe echoed Hu's remarks on bilateral ties, saying bilateral cooperation has made progress in various areas.Bilateral exchanges and cooperation in defense matters have made positive progress, which are of great significance, Abe added.Japan attaches great importance to maintaining high-level contacts with China and is looking forward to conducting more contacts with Chinese leaders this year, Abe said.Japan is ready to work with China to push forward bilateral ties, Abe added.The Chinese president arrived here from Canberra Wednesday to attend the annual APEC Economic Leaders Meeting. He has also paid a state visit to Australia.

BEIJING, March 3 -- The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said on Sunday. A China Development Bank office in Shanghai. The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said March 2, 2008.      The CDB cannot turn into a commercial bank immediately since it does not accept individual deposits now, but it will start doing so in the future, said Liu Kegu, vice governor of the bank.     The CDB is one of the three policy lenders in the country.     The CDB at the end of last year received the first 5 billion U.S. dollars of the planned 20-billion-dollar re-capitalization from Central Huijin, an investment arm incorporated into China Investment Corp (CIC).     Liu said the capital injection will not affect the CDB's credit rating since it has the best asset quality among domestic banks. It has a non-performing loan ratio below 1 percent - much lower than that of major commercial banks.     The CDB will retain its long-term credit business and the right to issue financial bonds in the interbank market.     The lender has generated controversy in the banking industry by increasingly becoming involved in commercial business in recent years.     Earlier reports said that the CDB is planning to expand into financial leasing to diversify its business. It is reported to be on the verge of acquiring Shenzhen Financial Leasing Co Ltd for 7 billion yuan, by taking a 90 percent stake.

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China kicked off an annual rural work conference in Beijing on Saturday to map out the country's strategies and policies for agricultural and rural development in 2008.China's rural development will continue to be one of the areas that top the government's agenda in the coming year, as stressed at the 17th National Congress of the Communist Party of China (CPC) concluded in October.A recent CPC meeting urged continuing to modernize the agricultural sector to close the gap between urban areas and relatively underdeveloped rural regions in the coming year.The meeting called on to boost infrastructure constructions in rural areas, promote the steady development of agriculture, increase the income of farmers, ensure the basic supply of farm produce and improve the livelihood of rural population.It asked to establish a long-term mechanism for boosting the agriculture sector, continue to increase government investment on agriculture, give more support to the agricultural sector and boost grain production in 2008.Experts believed balancing inflation curbs and steady price hikes of farm produce for the good of farmers would be a key challenge for the Chinese government next year.Farm produce such as grain, meat and cooking oil, were major factors behind this year's soaring inflation.The Chinese government had pledged to modernize the agricultural industry and invest more money in the country's vast rural areas at the annual conference last year.The Party and government had annually devoted its first work document to rural development four times since 2004 to draw up a variety of preferential policies to support the rural sector. The move indicated that rural development was a top concern of the central government.This year's rural work conference is scheduled to last two days.

At least two Chinese universities could achieve "world-class" status within the next 20 years, the president of one of the United States' oldest higher education institutions said yesterday in Beijing. Yale University's Richard Levin made the comment at the start of a 10-day visit by about 100 Yale faculty, students and administrators, the biggest delegation from the university ever to visit China. President Hu Jintao, who extended the invitation to the Ivy League university during his 2006 visit to the US, met the delegation last night at the Great Hall of the People. Hu said the visit of Levin's delegation will help promote mutual understanding and friendship between the two peoples, as well as the stable and healthy development of Sino-US relations. The president expressed his hope that Yale University students build strong relationships with the young people of China. In an interview with Chinese media, Levin said the country had made great progress in strengthening its top universities, by investing more in first-class facilities including research labs. "The key ingredients to being a world-class university are top students and top faculties," Levin said. "I don't think there is any doubt that China's top universities today have students that are as good as any in the world. "What remains to be built are faculties that are at the very frontier of research in their fields and worldwide leaders in their research endeavors." The delegation will spend its days meeting government leaders and visiting universities and other historical and cultural sites in Beijing, Shanghai and Xi'an. The Chinese government and Yale are sharing the cost of the trip. Participating students and faculty, the majority of whom had never before been to China, were handpicked to represent the university's different schools. Delegation groups will today meet with government leaders, including Yang Jiechi, the minister of foreign affairs and Jiang Zhenghua, chairman of the Chinese Peasants' and Workers' Democratic Party. The visiting students may even bridge some cultural divides. "I think that young people can play a very important role in securing a peaceful future for the US and China," Levin said. "Today, especially among the older generation, there is a great deal of ignorance about China in the United States, and some ignorance about the United States in China as well." Before leaving for China, some of the delegation met with US President George W. Bush, who spoke about the importance of "people-to-people diplomacy". "I think the trip will serve a cultural purpose in that our students will get a deeper understanding of Chinese culture to the extent that this throws into public view the importance of student-to-student exchanges," Levin said. "And that certainly serves a political purpose."

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Chinese residents along the Huaihe River have been urged to gear up for their second tough combat against floods in a week as the receding flood water on some branches started rising again on Saturday after torrential rains.The upper-reach Nanwan Water Dam and Shishankou Reservoir have got an average rainfall of 150 mm and 315 mm respectively on Friday, resulting a twist in the ongoing combat against the worst flooding on the Huaihe River since 1954. ¡¡ Chinese Premier Wen Jiabao talks to a child during his visit to the flood-hit Funan County in East China's Anhui Province, July 13, 2007. Continuous heavy rainfall has been battering a large part of eastern and southern China, with some parts witnessing the worst floods in decades. [newsphoto]The water level on the crucial Wangjiaba Hydrological Station may soon surge above the danger line as more rains have been forecast in the next few days, said Cheng Dianlong, deputy director of the Office of the Flood Control and Drought Relief Headquarters. Thirteen sluices at Wangjiaba station were opened Tuesday to divert flood water into the Mengwa Buffer Zone home to 150,000 people to provide relief to more than 2 million flood-hit residents in Henan Province. ¡¡ Nearly half a million people have been evacuated from the projected path of floodwater from the Huaihe River by Friday. Cheng said that the Henan hydrological departments on the upper reaches have made good use of reservoirs and water dams to alleviate pressure downstream Saturday. The flux into the Nanwan Reservoir registered at 2,760 cubic meters per second, however that out of the reservoir was¡¡reduced to 200 cubic meters per second. "The Huaihe riverbanks have been lashed by swelling water for several days. Putting up good defense will become increasingly difficult as more torrential rains are to come," he said. The headquarters issued an emergency notice Saturday to all local governments along the Huaihe River, requiring them to surmount fatigue, remain high alert and carry forward the spirit fostered in battling the 1998 Yangtze River flooding which killed more than 3,000 people and inflicted about 100 billion yuan (about 13 billion U.S. dollars) in economic losses. The notice urged them to take all adverse situations into consideration to reinforce preventive measures, continue to put the human first and safeguard the lives and assets of the people by arranging for relocation in advance. Along the Yangtze River, Guizhou, Hunan and Hubei provinces and Chongqing Municipality have been stricken by floodwater as heavy rainfall had lifted up the water levels of some branches. The Pipazui and Zhengjiahe Hydrological Stations on the tributary Fuhe River have both registered their highest water levels in history. Landslides triggered by mountain torrents killed six and caused three missing in Zhijin County of Guizhou Province, affected more than 673,000 people in Chongqing and inflicted the municipality 182 million yuan in direct economic losses. Some 1,630 people in Jingshan County of Hubei were evacuated in emergency as the water collected in downtown areas were 0.5 to 1.5 meter deep. By Friday, a total of 403 Chinese had been killed with 105 missing and 3.17 million people have been relocated as the rainy season coupled with ferocious flood waters continues to batter central and southern China.

BEIJING - China imported 139,900 sedans in 2007, up 25.13 percent over the previous year, with the largest share of 46 percent, or 63,800 units, coming from Germany, China Customs figures revealed.The sedan imports worth 5.01 billion US dollars, up 25.41 percent from the previous year, took up 45 percent of China's total automobile imports which has slightly overshot the previous year's total to stand around 310,889 units.China Trading Center for Automobile Import predicted late January that tariff reduction since July 1 had given a stimulus to China's consumption of overseas made automobiles, which could reach 300,000 in 2007.China customs figures showed about 79 percent of the imports were vehicles with an engine size of or larger than 2.5 liters.Japan exported 29,700 sedans to China, the second largest total, while the United States ranked third with 18,000 units.China's sedan exports, by contrast, more than doubled year-on-year to 188,600 units in 2007.Chery, the flag-bearer of Chinese brands, saw a 132-percent surge in exports in 2007, to 119,800 units. The carmaker, which has accelerated its expansion overseas in recent years, expected to export 180,000 units this year.Chang'an Automotive Group, China's fourth largest automaker, sold more than 40,000 cars overseas last year, against 21,700 in 2006.China, the world's third largest vehicle producer, after Japan and United States, found its auto output grow 22.9 percent to 9.04 million units last year, according to figures with the National Development and Reform Commission (NDRC), the country's top economic planner.The NDRC deputy economic performance department director Zhu Hongren said, since quantity was not a problem anymore, auto producers should increase their focus on quality.In 2006, China overtook Japan to become the world's second largest car market after the United States, with sales of 7.2 million units, up 25.13 percent year-on-year.Compared with their international counterparts, China's auto makers are still small in terms of production scale and behind in technology. In addition, the country's auto boom has created growing problems, such as increasing traffic jams and pollution.