News » Society » China in safety crackdown after sleeper bus tragedy
News » Society » China in safety crackdown after sleeper bus tragedy |
- China in safety crackdown after sleeper bus tragedy
- Chinese fishermen killed as typhoon hits SK coast
- Relief in Taiwan as Typhoon Tembin skirts island
- Carrier to brave the storm on sea trials
- Gold bars handed out by business-savvy village
- Faculty sex scandal hurts as PKU probes
- 19 cited for mine deaths held for criminal charges
- Typhoon Tembin passes by Hengchun
- HK regulator takes Ernst & Young to court for work papers
- Buffett-Backed BYD’s Profit Plunges 94% on Handset, Solar Units
- Have You Heard…
- Shipping Firm China Cosco Sails a Sea of Red Ink
- China to Lend Egypt $200 Million as Leaders Meet in Beijing
- New train fit for icy weather
- Liaoning city Party boss flees to US
- China orders bus safety sweep after fatal accident
- Wuhan villagers reap big rewards as shareholders
- 5 dead, 10 missing after typhoon sinks Chinese boats off S. Korea
- Japan urges probe on flag attack
- VIDEO: Typhoon Bolaven hits Korean peninsula
| China in safety crackdown after sleeper bus tragedy Posted: 28 Aug 2012 09:27 AM PDT CHINA has ordered sweeping inspections into the safety of long-distance buses after a horror crash at the weekend which claimed 36 lives. Local transport authorities must immediately launch a comprehensive examination of all long-distance buses and routes to eliminate potential safety hazards, the transport ministry said. Buses that fail safety checks will be banned from the road, it said. Effective measures must also be taken to ensure bus drivers have enough rest. Chinese transportation and safety authorities have ordered an investigation into the accident early on Sunday when a double-decker sleeper bus burst into flames after rear-ending a methanol tanker in the city of Yan'an in Shaanxi Province, killing 36 of the 39 people onboard. The other three passengers managed to escape the inferno. The accident exposed weak links in highway transportation safety management, the State Council's work safety committee said after an emergency meeting yesterday. Yang Dongliang, director of the State Administration of Work Safety, said the investigation team is determined to identify the cause of the accident and has promised to make public the results of the investigation. Huang Ming, vice minister of public security, also ordered stricter supervision over illegal transport activities. Drivers who drive 50 percent over the speed limit will have their licenses removed, while bus drivers who exceed the speed limit by 20 percent will be fired after receiving punishment, Huang added. The Shaanxi accident sparked Internet comments. Some highlighted the frequency of accidents involving sleeper buses, as accidents involving these vehicles often result in large numbers of casualties. The accident was the worst in China since July 2011, when a fire on an overloaded sleeper bus killed 41 passengers and injured six others on an expressway in central China's Henan Province. "The design of the double-decker sleeper bus is absurd, as only the driver can open the door and the side windows are usually locked," wrote microblogger Xingqing-Sunny on Weibo. The Ministry of Industry and Information Technology and the Ministry of Public Security suspended the production and sale of sleeper buses in March. However, existing buses are likely to remain in service for another five to eight years. Some Internet users said traffic authorities needed to learn lessons from countries where bus accidents were relatively rare. "In Germany, drivers take a 15-minute rest every two hours and are required to have 11 hours of sleep at night," Candy Qianzhihe posted. Others called for stricter government supervision. "Passenger safety is ensured not only by things we can see, such as vehicle parts and airbags, but also the invisible guarantee provided by traffic rules and government supervision," said Zhang Tong, a professor at Tongji University. The sleeper bus accident was just one of six over the weekend which claimed 71 lives. Also in Shaanxi, five people were killed when a farm vehicle overturned in Longxian County on Sunday and nine people died after a speeding truck-tractor ran into a van on the Qingdao-Yinchuan Expressway on Monday morning. In Sichuan Province, a van carrying 12 people crashed into a heavy-duty truck on Sunday afternoon on an expressway, with 10 of the van's passengers killed at the scene and the other two dying in hospital. Early on Monday morning, three vehicles collided on a national highway in suburban Beijing, leaving four people dead and 11 others injured. Later that day in the northwestern Gansu Province, five people died when a van collided with a truck. Nine people were injured. |
| Chinese fishermen killed as typhoon hits SK coast Posted: 28 Aug 2012 09:16 AM PDT A POWERFUL typhoon pounded South Korea with strong winds and heavy rain yesterday, killing nine people and churning up rough seas that smashed two Chinese fishing ships onto rocks and forced the coastguard to perform a daring rescue of survivors. Rescuers saved 12 fishermen and searched for 10 still missing from the ships that hit rocks off South Korea's southern Jeju island. Five fishermen were killed, officials said. The four other fatalities came as Typhoon Bolaven knocked out power to hundreds of thousands of South Koreans, canceled flights and temporarily halted joint war games by United States and South Korean military forces. North Korea, which is still struggling to rebuild from massive floods and a devastating drought before that, was next in the typhoon's path. Heavy rain and strong winds hit many parts of the country yesterday, a day that was supposed to be a North Korean celebration of its young people. Off Jeju island, dangerous waves kept rescue vessels from approaching the wrecked fishing boats. The coastguard used a special gun to shoot rope to one ship so officers could pull themselves over and bring the fishermen back to shore, spokesman Ko Chang-keon said. Eighteen fishermen survived. The coast guard rescued 12, and the others swam or were washed ashore. South Korea issued a storm warning for the capital, Seoul, as Bolaven battered the country's south and west, knocking over street lights and church spires and ripping signs from stores. A large container box crushed an apartment janitor to death, a woman fell to her death from a rooftop where she kept dried red peppers and another person died after bricks hit a house, according to disaster and fire officials. An 80-year-old man died after a small makeshift building fell on him, officials said. Strong gusts of wind left Seoul streets covered with garbage and tree branches. More than 15,000 schools canceled classes, and businesses and homes taped windows or pasted the glass with wet newspapers to keep them from shattering. About 1.7 million South Korean homes and businesses lost power, the National Emergency Management Agency said, though all but about 200,000 had electricity restored by last night. More than 80 families were left homeless because of floods or storm damage. Nearly 200 flights were canceled, 860 hectares of farmland were flooded and 32 ships were damaged, the agency said. In Pyongyang, cars splashed through slightly flooded streets, spraying people on crowded sidewalks who scrambled to avoid the water. Residents appeared to be going about their daily lives, though many wore rain boots and jackets, angling umbrellas against the wind and rain. The bad weather came on North Korea's first Youth Day since Kim Jong Un took over as leader in December. North Korea is still trying to help people with food, shelter, health care and clean water after heavy flooding in July, according to a recent United Nations report. More than 170 people died nationwide, and tens of thousands of homes were destroyed in the floods, according to official North Korean accounts. Weather officials had warned that Bolaven would be the strongest typhoon to hit the region in several years, but its gusts weren't as powerful as predicted. This posting includes an audio/video/photo media file: Download Now |
| Relief in Taiwan as Typhoon Tembin skirts island Posted: 28 Aug 2012 09:00 AM PDT Taiwan's rain-battered south heaved a huge sigh of relief yesterday as Typhoon Tembin skirted the island before dawn without making landfall. Communities in the exposed southern part of Taiwan had been bracing for a rare second onslaught after Tembin swept across the island late last week and unleashed the worst downpours in more than a century in some areas. "I feel relieved now," said Yeh Ming-shun, head of Hengchun township, which forms the southernmost tip of Taiwan. Tembin brushed by Taiwan at 2am, missing the south of the island by 10 kilometres, its weather center said. Three people suffered minor injuries when waves hit their house in Orchid Island off the east coast, where roads, houses and other public facilities were damaged. This posting includes an audio/video/photo media file: Download Now |
| Carrier to brave the storm on sea trials Posted: 28 Aug 2012 09:10 AM PDT CHINA'S first aircraft carrier has set off for its 10th sea trial after a month's rest but may encounter Typhoon Bolaven which was sweeping along the same route yesterday. Five tugboats towed the carrier out from the port of Dalian in northeast China's Liaoning Province to sea at 1:30pm on Monday. The carrier started its main engines at around 3:15pm and set out alone. Its depot ship, No. 88, remained at port, an indication that the sea trial wouldn't last too long. A restricted zone set up by the Liaoning Maritime Safety Administration "for military exercises" in the north Bohai Sea is in effect until tomorrow. There was also no farewell ceremony like those ahead of each previous sea trial, another indication, according to China News Service, that there is nothing special about these sea trials. Twelve poles could be seen on the left side of the carrier's deck and another two on the right, according to China News Service photographs, which may be used as markers for pilots landing aircraft on the deck. The carrier may be commissioned later this year, but it would not have combat ability until 2017, Li Jie, a researcher of the China Navy Military Academy and a senior colonel, said yesterday. "Normally, it will take three years for an aircraft carrier to be commissioned after its first sea trial and another five to eight years to be able to combat in a battle," Li said. He said that was because an aircraft carrier could not conduct missions alone, but needed protection and support from a fleet including frigates, destroyers and cruisers. Some submarines were also necessary for scouting and antisubmarine tasks. A US aircraft carrier is normally accompanied by two missile cruisers, two frigates, two nuclear-driven submarines and a depot ship. |
| Gold bars handed out by business-savvy village Posted: 28 Aug 2012 09:00 AM PDT A VILLAGE in central China's Hubei Province started sending each of its villagers a gift gold bar worth more than 36,000 yuan (US$5,666) yesterday in gratitude for their contribution as the village celebrated its 20th year anniversary. The fairy tale-like story taking place in a Chinese village has raised a stir on the Internet and created envy online. The Yujiatou Village of Wuhan City, capital of Hubei Province, spent about 34 million yuan purchasing gift gold bars made-to-order from Shanghai half a month ago in order to celebrate the special occasion. Each gold bar, weighing 100 grams, has slightly increased in value and now is worth more than 36,000 yuan as gold's value has risen, village authorities said. Each of its 1,001 villagers will receive a bar engraved with his or her name along with specially designed auspicious patterns. Villagers said besides the gold bars, they were also to receive other bonuses including cash and houses distributed by the village administration. The village has another name - Yujiatou Group Co Ltd. Each adult villager is a shareholder in the firm. They authorized the village authority to use their land to operate businesses such as building commercial projects and renting space. The villager shareholders traditionally get a bonus at the end of each year. "The real value of the gold bar far surpasses the figure on its price tag. It carries the glory and contribution of each villager over the past 20 years," said Zheng Qijun, a member of the village company board. |
| Faculty sex scandal hurts as PKU probes Posted: 28 Aug 2012 09:00 AM PDT CHINESE Internet users are clamoring for details regarding an alleged sex scandal that has tarnished the image of one of the country's top universities. Last week, a microblogger identifying himself as Zou Hengfu, a former professor of economics at Peking University, claimed in a microblog post that his former colleagues had regularly sexually harassed hostesses at a restaurant they frequent. Zou claimed that deans and directors would "always do that" after having meals at the Mengtaoyuan Restaurant, located close to the university's hospital. However, Zou did not reveal their identities or provide any evidence. The post was forwarded and commented on thousands of times over within a day of going online, creating a scandal that has impacted both Zou and the university. Peking University spokesman Jiang Langlang responded to the claim last Thursday and promised to open internal disciplinary investigations. A preliminary report was issued on Monday saying that none of Zou's allegations could be confirmed and asking Zou to provide further evidence. The university said it has failed to establish contact with Zou, despite its best efforts. Zou responded by blaming the university for not listening to him. Although Zou's accusation is vague at best, it is considered to be truthful by some Chinese netizens. A poll of 1,927 people on Sina Weibo, a twitter-like popular microblogging site, revealed that 40.6 percent of respondents believe Zou's story. Weibo users have noted that Zou's account has been verified and tied to his real identity, adding that it is not likely that a public figure would risk his or her reputation by making false accusations. Some users have asked the university to prove the innocence of its faculty, although other voices have challenged the credibility of Zou's claims. Pang Congrong, a Beijing-based book editor, said it is hard to tell whether the allegations are true or not, adding that she does not believe her friends who work at the university would engage in such behavior. Professor Xie Danyang at the Hong Kong University of Science and Technology said that if the charges prove false, they will damage Zou's reputation. However, if they are true, the damage would be wider, Xie said. "The charges are likely true, considering Professor Zou uses his real name. But is PKU still a university we should feel proud of?" wrote "jiangshuidongshi." |
| 19 cited for mine deaths held for criminal charges Posted: 28 Aug 2012 09:00 AM PDT
Among the group, seven from the Sizhuang Coal Mine in Shizong County, including the owner Liang Yonghui, were prosecuted for causing the accident and 10 local coal industry bureau officials were charged with dereliction of duty. Also, Sheng Zhong, then deputy director of the county, was brought to court this April for corruption and Wang Jianzhong, then Party chief of the county, was accused of severely violating discipline in his contact with Sizhuang Coal Mine. Another 13 Party officials also were punished. The accident occurred on November 10, 2010 when a powerful gas blast hit two underground platforms and trapped 43 miners, who were buried and suffocated. The investigation showed workers did not follow procedures, causing a massive amount of coal dust to mix with gas and fill the underground platforms. The privately run mine was operating illegally, having had its production licenses revoked before the explosion, according to the statement. The coal mine was fined 5 million yuan (US$786,500) and had 17.3 million yuan confiscated which was money made while licenses were revoked. Each of the families of 35 victims whose bodies have been retrieved have been paid 660,000 yuan, while families of the eight others, whose bodies have yet to be found, have been paid 700,000 yuan each. |
| Typhoon Tembin passes by Hengchun Posted: 28 Aug 2012 09:00 AM PDT Transferred residents have a rest at a temporary settlement in Hengchun Township of Pingtung County, southeast China's Taiwan, yesterday. More than 300 elderly people and children were transferred to temporary settlements as Typhoon Tembin passed by Hengchun early yesterday morning. This posting includes an audio/video/photo media file: Download Now |
| HK regulator takes Ernst & Young to court for work papers Posted: 28 Aug 2012 09:48 AM PDT  Source: Reuters By Anne Marie Roantree and Rachel Armstrong (Reuters) – Hong Kong's securities regulator, in an unprecedented move, took Ernst & Young to court after the audit giant failed to turn over accounting records related to a former China-based client. The case is the first of its kind in Hong Kong and mirrors one in the United States where Ernst & Young's rival Deloitte Touche Tohmatsu is fighting a request from U.S. regulators to hand over its audit work papers of Chinese computer company Longtop Financial Technologies. Accounting scandals at mainland companies listed in America such as Longtop and Sino-Forest Corp have dented investor confidence in U.S.-listed Chinese stocks. The blow-ups have spurred regulators there to demand access to audit work papers kept in China and inspect mainland-based auditors. "This risks throwing H-share and red chip companies into the same mess that all the U.S.-listed Chinese companies are in," Paul Gillis, professor of accounting at Peking University and author of the China Accounting Blog, said by phone on Tuesday. Red chips and H-shares refer to companies operating in mainland China but listed in Hong Kong. Between them, they make up more than half of the city's stock market. The U.S. Securities and Exchange Commission (SEC) last September asked a federal court to force Deloitte to produce records related to possible accounting fraud at Longtop, but Deloitte has resisted, citing Chinese secrecy laws. That case has currently been postponed as the SEC said it is trying to reach a solution with Chinese regulators. STANDARD WATER The Securities and Futures Commission (SFC) in Hong Kong said late on Monday it wants the Ernst & Young unit in the city to hand over its records from its audit work for mainland-based water provider Standard Water Ltd. The SFC said the audit firm has claimed it does not have the relevant records, as they are held in mainland China by its joint venture partner Ernst & Young Hua Ming, and could not be produced due to restrictions under China's state secrecy laws. "The secrecy rules are a fairly grey area — the mainland authorities have made announcements reminding firms of their obligations under them in recent years, but have not gone on to define fully what they are," said Chris Joy, executive director at the Hong Kong Institute of CPAs. The SFC said auditors should always be able to provide documents, especially since Standard Water applied to list in Hong Kong a few years ago. "Accounting and audit working papers relating to private companies applying for listing in Hong Kong must be capable of being produced either directly to the SFC or via the relevant mainland authority under the standing arrangements for co-operation," the SFC said in a statement. The regulator added that it already has consulted its mainland counterparts about the records and is working with them on this issue. Ernst & Young said it was working to try and resolve the situation as soon as possible. "We understand our obligations to the SFC and endeavor to fully comply, while also meeting our compliance obligations with mainland China's laws and regulations," the firm said in a statement on Tuesday. "We will work closely with the relevant regulators, and trust that there will be a quick resolution to enable our full compliance with applicable laws and regulations," it said. It also said that while it performed IPO audit work for Standard Water in 2009, it resigned in 2010 and did not issue an accountant's report on the company. Ernst & Young resigned as auditor upon discovery of "inconsistencies in documentation" provided by the Chinese company, and Standard Water withdrew its Hong Kong listing application shortly after, according to the SFC. Peking University's Gillis said the fact that the Hong Kong firm was acting as Standard Water's main auditor means it is in a difficult position to defy the SFC's request. "If the Hong Kong firm is signing the reports, that are to be used in Hong Kong, then under auditing standards the majority of the work should have been done in Hong Kong and they should have evidence of that work," he said. Under the action taken by the SFC, the Hong Kong court will inquire into why Ernst & Young has not complied with the regulator's request. It can order the auditor to hand the papers over if it is satisfied it does not have a reasonable excuse. A date for the first hearing is yet to be set.   |
| Buffett-Backed BYD’s Profit Plunges 94% on Handset, Solar Units Posted: 28 Aug 2012 09:53 AM PDT  Source: Bloomberg News BYD Co. (1211), the Chinese carmaker partly owned by Warren Buffett's Berkshire Hathaway Inc. (BRK/B), said first- half profit plunged 94 percent, dragged down by its solar-cell and handset units. BYD, which supplies to mobile-phone makers including Nokia OYJ (NOK1V) and HTC Corp. (2498), said in April that first-half profit would plunge as much as 95 percent as major customers suffered a decline in market share and Europe's debt crisis hurt demand for solar-energy cells. Vehicle deliveries declined this year at the Shenzhen-based maker as popularity of its F3 model waned amid increased competition from foreign carmakers including Volkswagen AG. (VOW) Net income for the nine months to the end of September is forecast to fall by as much as 95 percent to 17.6 million yuan, the company said in the statement. "During the third quarter of 2012, due to the impact of macro-economic uncertainties at home and abroad, China's auto demand is expected to remain weak while market competition will intensify," BYD said in yesterday's statement. Profit at its handset and solar-cell units will continue to decline over the nine-month period, BYD said. Shares Fell BYD shares fell 2.8 percent to HK$13.36 in Hong Kong trading yesterday before the announcement, widening its loss this year to 21 percent. The company's Shenzhen-listed stock rose 1.1 percent to 15.08 yuan yesterday. Revenue from handset components and assembly fell 11.6 percent from a year earlier to 8.6 billion yuan, while rechargeable battery sales dropped 5.5 percent to 2.4 billion yuan, according to the statement. Automobile sales increased 12.7 percent to 11.6 billion yuan. BYD's vehicle sales fell 11 percent in the first seven months of the year to 231,902 units, compared with a 19 percent gain for Volkswagen's eponymous brand to 1.18 million, according to data from industry researcher LMC Automotive. Total industry passenger-car sales rose 7.5 percent to 8.74 million units in the first seven months, according to the China Association of Automobile Manufacturers. BYD's shares fell by the most in more than two months in Hong Kong in May after a newspaper reported three passengers were killed when one of its E6 electric taxis caught fire after a crash in Shenzhen. Official investigations found no flaws in the vehicle's safety design, the company said on Aug. 3. Midsized Sedan The automaker introduced the Su Rui, a new midsized sedan, in Beijing this month, and is trying to expand overseas sales in markets such as Israel and Uruguay with fleet trials of its electric buses, according to the company. MidAmerican Energy Holdings Co., a unit of Buffett's Berkshire Hathaway, bought 9.9 percent of BYD in September 2008 to tap rising demand for clean technology. BYD shares surged more than ninefold after Buffett's investment, reaching a record close of HK$85.50 on Oct. 23, 2009. None of the 21 analysts who cover BYD recommend investors buy its Hong Kong stock. Twelve analysts have a sell rating, with the remaining nine recommending a hold, according to data compiled by Bloomberg.   |
| Posted: 28 Aug 2012 09:39 AM PDT Have You Heard…   |
| Shipping Firm China Cosco Sails a Sea of Red Ink Posted: 28 Aug 2012 09:59 AM PDT
As China Cosco Holdings Co. prepares yet another earnings report awash in red, voices inside and outside are pushing China's champion of the world's shipping lanes to shore up its finances. But industrywide woes and Cosco's own ill-timed expansion have damaged its financial standing, limiting its ability to nurture new business and to order additional ships. Should Cosco report a second consecutive annual loss, after last year's loss of 10.5 billion yuan ($1.65 billion), it also would risk being put on the Shanghai Stock Exchange's "special treatment" list. That could limit the daily trading movement of Cosco's shares to 5% from the standard 10%. If losses extend into a third year, the company automatically would be delisted. A senior Cosco executive said the company hopes to avoid the second year of losses through a "combination of efforts to improve capital quality, asset quality and production capability." He said it was "premature" to comment further because plans haven't been completed. Avoiding a loss for the year could be a tall order. Cosco on Wednesday is expected to report a deeper first-half loss than the 2.76 billion yuan loss logged for last year's first half. The company last month cited the weak global economy and slowdown in trade. To avoid an overt state bailout, analysts said, the company needs to find additional capital from the markets or from asset sales. Cosco's problems are part of a broader industry shakeout, oddly enough exacerbated by China's rise as a global shipping power. The country recently knocked off Germany to having the world's third-largest by fleet capacity, after Japan and Greece. China now has about 10%, up from 6.3% in 2006. Though China's companies long have chartered ships from foreign ship owners, Beijing made an effort to build and own its own vessels. In 2010 China eclipsed South Korea to become the world's largest shipbuilding nation by capacity, according to ship brokers Clarksons, five years ahead of Beijing's schedule. That contributed to a fall in shipping rates. A capesize-class vessel, a large cargo ship, cost around $160,000 a day to charter from a shipowner at the height of a shipping boom in 2008. But recent daily charter rates for a capesize are about $2,800 a day. Cosco—the major listed arm of state-controlled China Ocean Shipping (Group) Co.—bet heavily on China's continued rise, leading to a jump in capacity just as the market collapsed. The company increased its dry-bulk fleet—ships that carry raw materials such as coal—to around 450 ships in 2010 from about 400 in 2007. But roughly half its fleet was chartered from shipowners in other countries, making Cosco vulnerable to fluctuations in the spot market for freight rates. Last year the company engaged in a high-profile spat with foreign shipowners to halt or repay payments for vessels it chartered at the height of the shipping boom. Cosco said it renegotiated contracts for 18 ships. The company in 2011 logged a provision of 1.4 billion yuan for what it called onerous contracts. Cosco's 10.5 billion yuan loss last year made the company the worst performer on the Shanghai exchange's so-called A-share list in terms of earnings. The company's total liabilities nearly doubled to 107.3 billion yuan last year from 56.2 billion yuan in 2008. Market watchers are waiting to see whether Cosco seeks funding from markets, with a likely assist from the Chinese government. "A recapitalization with the government taking up the additional shares might be the best way out," said Macquarie Securities analyst Janet Lewis. "You dilute your existing shareholders but it's not like they are doing too well out of the current situation." A more permanent solution might be a sale of assets or a reorganization, Ms. Lewis and other analysts said. One option could be a shift of Cosco's container business—shipping large metal boxes, usually full of exports—to another state-supported company, China Shipping Container Lines. CSCL didn't respond to requests for comment. Another course, said Johnson Leung, head of transportation at Jefferies Hong Kong, would be to transfer the dry-bulk division to parent China Ocean.   |
| China to Lend Egypt $200 Million as Leaders Meet in Beijing Posted: 28 Aug 2012 10:02 AM PDT  Source: Bloomberg News | Photo: Xinhua China promised a $200 million loan to Egypt and the two sides signed deals in agriculture, the environment and telecommunications as Egyptian President Mohamed Mursi sought to boost ties in a trip to Beijing. The agreement came on the first leg of Mursi's two-nation trip that will also include Iran, a stop that has raised concern in the U.S. and Israel about Egypt's foreign policy. Mursi has signaled a foreign policy that may shift away from the U.S. ties built by Hosni Mubarak, his predecessor who was ousted in a mass uprising last year. "Since taking office, Mr. President has chosen China as one of his first countries to visit and this fully shows that your country attaches great importance to the desire to develop relations with China," Hu said when the two leaders met in Beijing today, according to a pool report. Egypt hopes to boost Chinese investment to $3 billion from the current $500 million, the state-run Al-Ahram newspaper reported today, citing Hassan Malek, head of a business delegation accompanying Mursi. Egypt wants to sign eight agreements with China, offering investment projects in agriculture, tourism and infrastructure, the report said. Signed Agreements No details were available about the China Development Bank loan. Other agreements signed by the two sides focused on issues including agriculture, the environment and tourism. China also agreed to provide Egypt with police cars, according to the agreements. A commentary published yesterday by China's state-run Xinhua News Agency said the two sides have maintained "steady and robust cooperation despite Egypt's social turmoil." Trade rose to $8.8 billion last year, the report said. It said that China has extended its "helping hand" to push economic recovery in Egypt. It said the two sides want to work together on a range of international issues including the conflict in Syria, where China has vetoed UN resolutions aimed at speeding up Syrian President Bashar al-Assad's departure. "Egypt could be a bridge for China to strengthen cooperation with the whole Arab world and the African continent within the UN and other international organizations," the Xinhua commentary said. Non-Aligned Summit In Iran, Mursi is scheduled to address the Non-Aligned Movement summit on Aug. 30 and will remain in the country for only a few hours, his office has said. The trip is the first by an Egyptian president to Tehran since the 1979 Islamic Revolution. Ties between Egypt and Iran since then have been run through intermediaries. Israel and the U.S. have pressed Mursi not to attend the summit, arguing that it could send a signal of legitimacy to the government of President Mahmoud Ahmadinejad as it remains locked in a dispute with the U.S. and its allies over Iran's nuclear program. Egyptian officials have downplayed the trip, whose main purpose is the handing over of the NAM leadership to the Iranians,Yasser Ali, Mursi's spokesman, said in e-mailed comments.   |
| Posted: 28 Aug 2012 03:07 AM PDT China's first Metro train designed for operation in extremely cold weather rolls out of the plant in Changchun, Jilin Province today. The six-car train has a top speed of 80kph and will be delivered to Harbin City in China's northernmost province of Heilongjiang where it will undergo test run in the city's new subway. This posting includes an audio/video/photo media file: Download Now |
| Liaoning city Party boss flees to US Posted: 28 Aug 2012 01:44 AM PDT THE former Party chief of Fengcheng City, Liaoning Province has fled to the United States as authorities began to probe allegations against him, the People's Daily reported today. Wang Guoqiang, the Party secretary of Fengcheng, allegedly left the country in April or May after channeling more than 200 million yuan (US$31.46 million) of embezzled funds to the US where his other family members live as immigrants. Local officials said Wang was removed from his post before he went overseas but refused to disclose any details. "We are unfamiliar with his case," said an official with the city's Party organization department. Wang was being investigated for taking bribes from a local heating company and some property developers. Online posts said the Haide Heating Co Ltd was run by Wang's friend after it changed from a state-owned company into a private one a few years ago. Haide continued to charge heating fees from local homes without supplying heat. Wang went abroad under the guise of "conducting a field study" before discipline authorities were able to detain him on corruption charges. Ma Yanchuan, the mayor of Fengcheng, has taken over his post as the city's Party secretary. |
| China orders bus safety sweep after fatal accident Posted: 28 Aug 2012 01:33 AM PDT CHINA'S Ministry of Transport has ordered a sweeping inspection of long-distance bus safety after a fatal road accident killed 36 people on Sunday. |
| Wuhan villagers reap big rewards as shareholders Posted: 28 Aug 2012 12:39 AM PDT A suburban village in Wuhan, capital of Hubei Province, gave each villager a gold bar worth about 36,000 yuan in appreciation of their contribution to the village that owns Yujiatou Group Ltd. The act of Yujiatou Village created a stir on the Internet. People learned that it spent 34 million yuan to order custom-made gold bars from Shanghai ahead of the village enterprise's 20th anniversary yesterday. The 1,001 villagers each received a gold bar embossed with their names and will also get cash dividends and new apartments from the village because each adult villager is a shareholder of the company. They authorized the village committee to use their land to develop commercial and residential properties and they get dividends at the end of each year. "The real value of the gold bar far exceeds the figure on its price tag. It symbolizes the contribution of each villager in the past 20 years," Zheng Qijun, a village committee director, told the media. |
| 5 dead, 10 missing after typhoon sinks Chinese boats off S. Korea Posted: 27 Aug 2012 11:47 PM PDT FIVE Chinese fishermen are confirmed dead and ten others are still unaccounted for after a powerful typhoon sank their fishing boats in South Korean waters early this morning. Two fishing boats capsized around 2:40 am local time in waters about 1.8 kilometers from the Hwasun port in Jeju's Seoguipo city due to heavy winds and high waves unleashed by Typhoon Boleven. Two crew members swam ashore and reported the accident to authorities, and sixteen others were rescued later by South Korean coast guard officials. Five were found dead, putting the number of those missing at 10. The vessels, "Yuejiangchengyu" No. 91104 and No. 91105, are both from Weihai city of East China's Shandong province. The Jeju-based Chinese Consulate is maintaining close contact with local police in search and rescue efforts. A typhoon alert was issued in waters off the southern resort island early Monday morning. Schools there were closed and flight services canceled. |
| Japan urges probe on flag attack Posted: 27 Aug 2012 11:29 PM PDT Japan calls an incident in which an unknown man ripped the flag off a car carrying its ambassador in Beijing "very regrettable". |
| VIDEO: Typhoon Bolaven hits Korean peninsula Posted: 28 Aug 2012 02:52 AM PDT Typhoon Bolaven has left at least nine people dead and several others missing on the Korean peninsula. |
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