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China Securities Regulatory Commission announced here on Friday that it has approved the initial public offering (IPO) plans of three domestic companies.     They are the Sichuan-based software and equipment provider Wisesoft, nitrocellulose producer Sichuan Nitrocell Corporation, and husbandry company Shandong Minhe.     It also approved the issue of three stock funds, bringing the total of newly approved funds of this kind to 18 since February. A bond fund also won approval.     New funds approved since February equals half of all funds approved last year, which would injects more capital into the declining stock market.     Though the market is less sensitive to new fund issue as more funds win approval, the accumulation of capital would possibly lead to positive short-term change in the market, analysts said.

SHANGHAI: The children of migrant workers in Shanghai are turning against their hometowns and becoming arrogant, it has been claimed.Kids brought up in Shanghai have a feeling of superiority when they return to their birthplaces, Zhang Yichao, the founder of a chorus group who has been organizing trips for the young migrants to the countryside, said.The 35 chorus group members are aged from 11 to 16, born in rural areas and are growing up in Shanghai. They were making 12-day trips to their hometowns of Anhui, Jiangxi and Jiangsu provinces last month.Zhang set up the chorus in February last year with an American. It is the first troupe in Shanghai comprising the children of migrant workers.Following an 18-month training course by voluntary teachers they put on performances at venues such as the Shanghai Oriental Art Center and Jinmao Tower, China's second-highest building.On their visits to the countryside the kids held chorus and solo shows, with electric instruments, for the farmers. They also played games with local children and collated information to write reports."Few of these children maintain their affection for their hometowns and they don't like the countryside. I hope these trips will help them remember their early childhood and the rural areas where they were born," Zhang said.For the first few days, he said, the kids kept their distance from farmers, complained about dirty toilets, muddy sidewalks and shabby housing. They even hid the fact they were from rural areas themselves."It's obvious these children liked the feeling of superiority in front of their country fellows," Zhang said."What we can do, however, is help them face up to the fact they were born in rural areas and perhaps then they will be more fond of these places."They are still young and innocent and I believe they will build up a positive life philosophy and make their own contributions to society," chorus volunteer Liu Jing said."Children of migrant workers need more education in all aspects of life. This trip to the countryside is just a small part and we are organizing other activities," Zhang said.

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Visiting Chinese Premier Wen Jiabao (L) is greeted by Japanese Prime Minister Shinzo Abe upon his arrival at Abe's official residence in Tokyo April 11, 2007. Wen arrived in Japan on Wednesday. [Reuters]TOKYO: Premier Wen Jiabao and his Japanese counterpart Shinzo Abe Wednesday agreed on concrete steps to build mutually beneficial strategic ties. Wen's three-day trip, the first by a Chinese premier in nearly seven years, comes six months after Abe went to Beijing to mend ties chilled by his predecessor Junichiro Koizumi, who repeatedly visited Yasukuni Shrine that honors Japan's war criminals of World War II. Yesterday, the two leaders declared their firm intention to move forward on rebuilding relations, signed agreements on energy and the environment and issued a joint statement that spelt out issues for cooperation. An environmental accord called for the two to work on a successor to the Kyoto Protocol on climate change by 2013. The other agreement committed the two nations to cooperate on developing energy resources and building nuclear power plants in China. In the joint statement, the two vowed to seek ways to jointly develop gas deposits in disputed waters, pursue the denuclearization of the Korean Peninsula, and strengthen defense cooperation. During their talks, Wen said that the history issue is crucial for bilateral relations as it affects the national feeling of the Chinese people. It could be an obstacle to improved ties if not handled well, he added. He urged the Japanese leaders to face up to history and "open up good, forward-looking relations toward a beautiful future". Wen also reiterated China's position on the Taiwan question, hoping the Japanese side can realize the acute sensitivity of the issue and deal with it properly. Abe reiterated Japan's commitment to the principles enunciated in the three joint documents directing bilateral relations. On disputed waters in the East China Sea, the two sides agreed to speed up the negotiation process to seek a solution that is acceptable to both. The two sides pledged to make the area "a sea of peace, cooperation and friendship". Wen arrived in Tokyo just hours after the two countries signed an accord lifting Beijing's four-year ban on Japanese rice imports. China banned imports in 2003, claiming Japanese rice did not meet the requirements of its revised quarantine system. Wen is scheduled to address Japan's parliament today. He will also meet Emperor Akihito and co-chair an inaugural meeting with Abe on a high-level economic dialogue that will involve officials at the ministerial level and above. He will even join in a game of baseball - a popular sport in Japan - tomorrow with college students in western Japan before returning. Meanwhile, Abe accepted an invitation to visit China again this year. Though no timetable has been set, it is widely believed that he will visit in the autumn to attend the celebrations marking the 35th anniversary of the normalization of bilateral relations. His trip is seen as setting the stage for President Hu Jintao's first visit to Japan next year.

Rescuers take a rest outside a flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in a flooded coal mine in Xintai, authoritative sources said on Saturday morning. [Xinhua]XINTAI, Shandong Province -- One hundred and seventy-two miners were trapped in a flooded coal mine in east China's Shandong province, authoritative sources said on Saturday morning.The flooding occurred at around 2:30 p.m. Friday in the coal mine of Huayuan Mining Co. Ltd (formerly known as Zhangzhuang coalmine) in Xintai City, about 150 kilometers south of Jinan, Shandong's capital.A total of 756 miners were working underground at the time of the flooding and 584 managed to escape after the accident, Xu Qinyu, general manager of the company said on Saturday morning.Downpours hit the area Friday with a precipitation of 205 millimeters, triggering flash flood and a 50-meter breach of a levee of the Wen river in the region.Floodwater from the Wen river swamped the coal mine via an old shaft. A 100-millimeter rainfall Saturday night worsened the flooding situation. The rain ended around 7 a.m. Saturday.By 8:50 a.m., the working places under the mine have been all inundated, according to the rescue headquarters.Wang Ziqi, director of the Shandong coal mine safety administration, said the trapped miners had only slim chances of survival.Most of the trapped people were from rural areas in Tai'an City and surrounding areas, said Wang Junmin, vice governor of Shandong.About 2,000 Chinese People's Liberation Army troops, armed police and miners have closed up a 30-meter section of the breached levee of the Wen river by midday Saturday.The closure of the breach is crucial to the rescue efforts and it will stop water from continuing to flow into the mine, according to rescuers.In a separate accident in Xintai, nine people were trapped in the Minggong coal mine after it flooded because of the rainstorms.Ninety-five people were working underground when the accident happened. Eight-six have been lifted alive. Rescue work is underway.Li Yizhong, director of the Administration of Work Safety and Zhao Tiechui, director of the State Administration of Coal Mine Safety, have rushed to the site to oversee rescue efforts.The work safety watchdog issued on Saturday an emergency notice urging coal mines to draw lessons from the Huayuan mine accident and immediately take preventive measures against rainstorm-triggered floods.Huayuan Mining Co. Ltd is a licensed enterprise with an annual capacity of 750,000 tons.Rescuers prepare to install the drain pipes outside the flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in the flooded coal mine, authoritative sources said on Saturday morning. [Xinhua]Rescuers work outside the flooded coal mine in Xintai City, East China's Shandong Province, Aug. 18, 2007. One hundred and seventy-two miners were trapped in the flooded coal mine, authoritative sources said on Saturday morning. [Xinhua]

Yichang - Construction of a tunnel under the Yangtze River that will form part of a gas pipeline project running from Sichuan Province to Shanghai was completed Monday.The 1.4-km, 3.08-m diameter tunnel sits 20 m beneath the riverbed and connects two wells on either side of the river in Yichang city, Hubei Province, Liu Juzheng, head of the Hubei section of the pipeline, said.With a total length of 2,203 km, the pipeline will serve as an "energy artery" as part of the West-East gas project, Liu said.The pipeline is expected to channel 12.1 billion cu m of natural gas a year from the Puguang field in Sichuan to central and eastern regions of the country, including Chongqing Municipality, the provinces of Hubei, Anhui, Jiangxi, Jiangsu and Zhejiang, and Shanghai Municipality.The tunnel, which took 325 days to complete, is the first of five to be built under the Yangtze.Industry experts say the new pipeline, which will cost 62.7 billion yuan (.4 billion) to build, will provide an opportunity to develop western regions based on their rich natural resources.Chen Deming, vice-minister of the National Development and Reform Commission (NDRC), said the pipeline will be completed in late 2010 and the gas it transports will help reduce carbon dioxide emissions by tens of millions of tons a year.Figures from the China Petrochemical Corporation (Sinopec) put Puguang's proven reserves at 356.1 billion cu m. The country has total proven natural gas reserves of about 2.66 trillion cu m.The government has been promoting the use of natural gas to improve energy efficiency and reduce air pollution.Under an NDRC proposal on natural gas development, the government plans to increase the natural gas pipeline network to 44,000 km by 2010 to meet demand.Although China's natural gas output will reach 94 billion cu m in 2010, up from 58.6 billion in 2006, an additional 16 billion cu m a year will still have to be imported to meet demand, Sinopec said.In Shanghai, demand for natural gas soared from 4 million cu m in 2003 to 1.9 billion in 2005.In 2004, China National Petroleum Corp (CNPC) opened its West-East gas pipeline, which runs more than 4,000 km and channels 1.2 billion cu m of gas a year to Shanghai from the Tarim Basin in the country's westernmost region of Xinjiang.CNPC is to build a second West-East pipeline to carry gas imported from central Asia to the Pearl and Yangtze river deltas. Construction will begin next year with the line, which is designed to carry 30 billion cu m a year, becoming operational in 2010.

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The average pork price has dropped to 12.61 yuan this week, 9.61 percent lower than the peak price on August 9, said China's economic planner after pork prices nearly doubled in the past eight months due to short supply and mounting production costs.The prices have seen a consecutive drop for the eighth week, down by 3.45 percent from the end of August, as the piglets raised since May and June grew ready for the market to add to the pork supply.Pigs daily butchered in 36 major cities have increased by 12.6 percent from August, and the supply is expected to keep rising, said the National Development and Reform Commission.But the Ministry of Commerce said the decline in the pork prices would probably stop as demand surges during the ongoing National Day holiday and feedstuff prices stay high.The soaring pork prices is a major contributor to the general food price hikes that drive up the consumer price index to a 6.5 percent increase in August.

BEIJING, March 10 (Xinhua) -- The National Development and Reform Commission (NDRC), China's top economic planning agency, said on Monday the country's combined edible vegetable oil consumption stood at 23 million tons in 2007, 2 million tons more than a year earlier.     The country's total market supply last year reached 23.8 million tons, according to a statement on the NDRC website.     The NDRC said the current demand and supply of edible vegetable oil on the domestic market were balanced and could meet citizens' needs.     However, the NDRC and the State Grain Administration (SGA) called on their local branches to endeavor to maintain stable market supply as international soybean and edible oil prices had risen sharply recently.     The NDRC and the SGA ordered their local branches to accentuate the importance that the import of soybeans and edible vegetable oil would not be disrupted.     Two-thirds of edible oil materials in China, the largest global consumer, relies on imports. According to General Administration of Customs statistics, imports of edible oil and soybean reached 8.38 million tons and 30.82 million tons, respectively, last year, up 1.69 million tons and 2.58 million tons year on year.     The NDRC also asked local governments to track the inventory and price of edible oil price in real time and make efforts to maintain a sound market order.

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SHANGHAI - One experimental clean-energy car runs on natural gas. Another uses ethanol distilled from corn. A third has a zero-emissions electric motor powered by a hydrogen fuel cell. Visitors walk around a Ryuga Mazda car on display during The Shanghai Auto Show in Shanghai April 21, 2007. These alternative vehicles were created not by a global automaker but by China's small but ambitious car companies, which displayed them Sunday alongside gasoline-powered sedans and sport utility vehicles at the start of the Shanghai Auto Show. At a time when they are still trying to establish themselves in international markets, Chinese automakers are already investing in such avant-garde research in a bid to win a foothold in the next generation of technology. "This is the tide of the industry. If you don't go with the tide, the industry will pass you by," said Qin Lihong, a vice president of China's biggest domestic automaker, Chery Auto Co., in an interview ahead of the show's opening. China's leaders are encouraging the development as part of efforts to cut pollution and rising dependence on imported oil and to make this country a creator of profitable technologies. Chinese manufacturers are getting help from foreign automakers in joint ventures and from research alliances with Chinese universities and government laboratories. Beijing has made cleaner cars a policy priority, targeting the field as one of 11 priority areas in a 15-year technology development plan issued in February 2006. It promised grants and tax breaks to support industry efforts. The campaign embodies one of Beijing's strategies in technology development: Pick new areas with no entrenched competitors so China can make breakthroughs without huge costs. While foreign automakers have a lead in conventional technology, "in new energy we're starting from almost the same line," said Chen Hong, the president of Shanghai Automotive Industries Corp. "So we believe we can catch up with other auto companies and make great progress in developing new energy vehicles," Chen said. China's leaders are pressing its auto, steel, manufacturing and other industries to improve energy efficiency and cut pollution. They see China's rising reliance on imported oil as a strategic weakness. China already is the world's No. 2 oil consumer after the United States and saw imports soar by 14.5 percent in 2006, driven by economic growth that has topped 10 percent for the past four years. A boom in car sales has added to smog shrouding China's major cities, which are among the world's dirtiest. Vehicle sales jumped 25.1 percent last year to 7.2 million units, including 3.8 million passenger cars. At the Shanghai show, both SAIC and Chery displayed experimental fuel-cell sedans, while they and a third Chinese automaker, Chang'an Automobile Group Co., also showed gasoline-electric hybrids. SAIC said it will start selling its hybrid next year, while Qin said Chery's would go on the market in two to three years. "The hybrid will be our focus," SAIC chairman Hu Maoyan said at a news conference. "The fuel cell will be our direction." SAIC has spent 100 million yuan ( million) on fuel cell research, according to state media. Chery had the widest array of alternative vehicles on display at the Shanghai show. They included models outfitted to run on bio-diesel made from vegetable oil or a "flexible fuel" choice of compressed natural gas or ethanol. Foreign automakers also are playing a role in China's research. General Motors Corp. has a joint-venture technology center with SAIC in Shanghai and operates three experimental fuel cell buses in the city. DaimlerChrysler AG has three of its own fuel cell buses running regular routes in Beijing in a research project with the technology ministry. Foreign automakers including GM, Ford Motor Co., BMW AG and Honda Motor Co. displayed their own hybrids and experimental fuel cell cars at the Shanghai show. Company officials said hydrogen fuel cells, which produce power with no exhaust, are the cleanest option. But they say it could be a decade or more before such technology is commercially feasible, due partly to the need to create a network of hydrogen filling stations. Chinese authorities also are looking at other possible fuels such as natural gas and methane extracted from coal, said Mei-Wei Cheng, the president of Ford's China operations. "This is not an easy decision, because every option has pros and cons," Cheng said. "The government is trying to find a solution as quickly as possible, but this is a difficult problem."

The average wedding cost in urban China hits a record of 560,000 yuan (US,572), and young couples are heavily depending on parents' financial aids to pave the way for their marriages, reported the Jiefang Daily Friday.2006 China Wedding Expo was held at Beijing Exhibition Center from August 11-13. Various wedding photos and other related wedding outfits had been exhibited during the expo. [CRI]The 560,000 yuan is based on some 60,000 valid questionnaires of a recent survey conducted by the Committee of China Wedding Expo.According the survey, the wedding related expense, honeymoon, new house and car are prime contributors to the soaring marriage cost in the urban area. The wedding related cost, including wedding picture, dress, ceremony, feast, jewelry is 139,557 yuan in average. The average costs of honeymoon and a new car are 9,227 yuan and 94,800 yuan respectively. Housing expense fuels the marriage cost by adding 308,600 yuan in average. According to the survey, 81.6 per cent of young couples' marriages are funded by their parents. No matter parents finance some of it, half of it or all of it. "Parents are the young couple's first-choice sponsor of their luxurious wedding," said Liao Junguo, the director of the data center of China Wedding Expo. "I am willing to give my boy a hand as it is a tradition of Chinese parents to take care of their children's wedding," a senior surnamed Zhang said. The skyrocketing marriage cost in urban area put many engaged couples in an awkward position when it comes to the question of getting married. Love and marriage go together like a horse and carriage, but the carriage nowadays is loaded with money.