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UNITED NATIONS -- China's special representative for climate change talks, Yu Qingtai, urged the international community to conduct substantive negotiations aimed at securing a new global post-2012 agreement on climate change by 2009.Speaking at the UN General Assembly debate on climate change, Yu said that the Bali roadmap, adopted at the UN climate conference last December by delegates from nearly 190 nations, is "only a beginning.""The international community must continue with the task of conducting substantive consultations and negotiations, so as to insure a final agreement on the post-2012 international cooperation on climate change within the next two years," he said.Yu emphasized that any framework for future arrangements must be firmly based on the principles established by the UN Framework Convention on Climate Change (UNFCC) and the Kyoto Protocol, particularly the principle of common but differentiated responsibilities.The four building blocks of the roadmap -- mitigation, adaptation, technology transfer and financing, are all important components for developing an effective framework for responding to climate change, and should be given equal attention, and none of them should be neglected, he noted.Urging developed countries to further strengthen policies and measures aimed at emission reduction, the special envoy said the concerns by developing countries over adaptation, technology transfer and financing should be addressed in earnest, so that they will have the capacity to make greater contributions to confronting the challenge from climate change."The effectiveness of participation by the developing countries will, to a significant extent, depend on whether the developed countries will take substantive actions on financial and technological assistance," he said. "Effective mechanisms should be set up as soon as possible to insure that measurable, reportable and verifiable assistance be provided to the developing countries with regard to financial resources, technology and capacity building," he said.China takes climate change "very seriously" and have adopted various policies and measures to respond to the challenge, with " noticeable success," he said."While making our own due contribution, we will also help other developing countries to enhance their ability to adapt to climate change," Yu added.Representatives, including some 20 ministers, from more than 100 countries and international organizations attended the two-day high-level session and exchanged views on ways to move forward the negotiating process launched in the Bali conference.

Five needy college students in Central China's Hubei Province are being denied further financial aid because they never expressed their thanks to the benefactors who helped them pay their bills last year.The beneficiaries, in Xiangfan, were said to have been indifferent to their sponsors because they never called, wrote or even thanked them for the financial support they had received, local media reported.Sina.com asked more than 200,000 people what they thought of the subject Wednesday, and more than 83 percent of respondents said they thought it was right to cut off the financial aid to the students. Roughly 9 percent said they did not agree and the rest said no comment.Under the aid program, organized by the Xiangfan Federation of Trade Unions and Xiangfan Women Entrepreneurs Association last August, 19 businesswomen offered financial support to 22 needy college students.Each benefactor promised to give 1,000-3,000 yuan (0-400) every year to each student for the next four years.The federation sent letters to the students and their families before they enrolled in college, suggesting they occasionally write letters to their sponsors to brief them on their studies. However, two-thirds of the students failed to do so.Some of the businesswomen refused to sponsor the students this year because they said "some students were cold-blooded"."The situation is embarrassing. Most of the students have a strong sense of pride. They lack a proper and optimistic attitude toward others and society. Maybe, some of them took the sponsorships for granted because they thought they were good students and deserved the support. That's why they didn't think to say 'thank you'."Zhou Ping, deputy chairperson of Xiangfan Federation of Trade Unions"We cannot refrain from eating for fear of choking on the food. It will not help these disadvantaged students to cut off their support. If they have faults, they should get help correcting them. Financial aid and other kinds of charity should focus on helping escape their difficulties, both spiritually and materially. "Zhou Xiaozheng, a professor of Renmin University of China in Beijing"Financial resources are limited, and many students are waiting to share them, so there is no room for ungrateful citizens who might have no will to repay society. There are many examples of impoverished students who spend their financial aid on luxury products, which discourages others from offering them donations."Li Chengpeng, a media commentator"I support cutting off the aid. The benefactors do not feel the value of their good deed and the beneficiaries do not feel grateful for the help. If the relationship is to be maintained, it might be harmful to both sides."Zhu Jun, a lawyer

LONDON -- China is set to make 2008 the year it asserts its status as a global colossus by flexing economic muscles on international markets and exhibiting its cultural richness, The Independent newspaper said on Tuesday."The world's most populous nation will mark the next 12 months with a coming-of-age party that will confirm its transformation in three decades from one of the poorest countries of the 20th century into the globe's third-largest economy, its hungriest consumer and the engine room of economic growth," the daily said in an article.It said that China enjoys unprecedented levels of domestic consumption and showcases itself to a watching world with a glittering 20 billion pound ( billion) Olympic Games.China's trade surplus with the rest of the world will widen from 130 billion pounds (0 billion) in 2007 to 145 billion pounds (0 billion) this year, the paper said.The paper said China is set to grow in the next year by something like 10 percent and contribute more to world economic growth than the United States in 2008.The paper also expressed worries about the challenges China faces in social and economic life like the rich-poor gap and inflation.Culturally, China will remind the world of its rich legacy of music, dance and visual arts with a new wave of Chinese creativity in Britain, it said.The Chinese New Year on February 7 will herald the beginning of the largest-ever festival of China's culture in Britain with an accent on contemporary artists in fields from video art to neon signs.

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The website of the National Bureau of Corruption Prevention (NBCP) crashed on Tuesday, just hours after its launch, as droves of people logged on to complain about corruption among officials.The website (yfj.mos.gov.cn) was closed for most of the afternoon, Beijing Youth Daily reported.An NBCP official, who did not want to be named, confirmed the breakdown had occurred."Repairs were carried out soon after the website broke down and normal service has now been resumed, he told the Xinhua News Agency."The number of visitors was very large and beyond our expectations," he said.As of 4 pm yesterday, visitors had left 22 pages of messages in the website's guest book.While many of them referred to report specific cases of official corruption, these were redirected by the webmaster to other sites, such as that of the Ministry of Supervision.Other visitors made calls for the strengthening of the government's anti-corruption efforts, and comments about the need for special attention to be given to cases involving institutes of higher education and grassroots governments."The corruption problem in China is a fatal illness. Establishing more institutions will not solve the problem," one comment read.The enthusiasm that greeted the launch of the website reflects the growing frustration felt by the public toward corruption at government level, which has been accentuated by several high-profile cases in recent years.Several senior officials, including Qiu Xiaohua, the former director of the National Bureau of Statistics; Zheng Xiaoyu, the former head of the food and drug administration; and Chen Liangyu, the former Party head of Shanghai, have been found guilty of serious corruption.Last year, more than 90,000 officials were disciplined, according to official figures.The NBCP was set up on September 13, with Ma Wen, the Minister of Supervision, as its head.The bureau has been entrusted to collect and analyze information from the banking, land use, medicine and telecommunications sectors, among others, and to share it with prosecuting organs, courts and the police.It is not, however, involved in the investigation of individual cases.

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

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BEIJING -- Xinhua was authorized on Tuesday to release a signed article by Shi Shan. The full text of the article is as follows:Carrying forward Buddhism or fueling evil cults?-- On the relationship between the 14th ** Lama, Aum Shinrikyo cult and Falun GongThe world has seen rapid development in the scientific civilization of mankind, but the malignant tumor of evil cults is still rampant, plunging innocent people into the depths of suffering. Evil cults such as the Solar Temple Cult of the United States, the Falun Gong of China and the Movement of the Restoration of God's Ten Commandments of Uganda wantonly preach the fallacy of "the End of the World", destroy social stability and jeopardize the lives and property of the public. Such perverse acts have aroused strong indignation of the people and governments of various countries. Many countries have staged a fight against evil cults by enacting legislation and setting up special agencies.Buddhist doctrine advocates good deeds and extrication from the earthly weal and woe. It has also long been viewing evil cults as the "feud of Buddha" and maintaining that "Buddha and demons do not coexist with each other". The 14th ** Lama, who boasts to be a "follower of Buddhism" and "human rights fighter", however not only has no hatred toward evil cults but instead shows a great deal of compassion for them. Isn't it worth pondering the reasons behind this?Let's first start with the Aum Shinrikyo cult of Japan. The cult leader Shoko Asahara claimed that it was "the 14th ** Lama who personally led him into the Mahayana tradition of Buddhism" and that he could shorten the time needed for one to become a Buddha from 2,000-3,000 years to just 10 years, urging people to ditch the ascetic practices advocated by Buddhism and follow his sect tenets to merrily achieve longevity and even to become a Buddha. The 14th ** Lama kept writing certificates or letters of recommendation for Shoko Asahara to the authorities of Tokyo, hailing Shoko Asahara as "a very capable religious teacher" and hoping the authorities would "allow the Aum Shinrikyo Sect to be exempted from tax payments and propagandize its credo. The German weekly Focus reported that without the support of the 14th ** Lama, it would have been absolutely impossible for Shoko Asahara to build up his sect empire and, within a short period of very few years, gain status as a cult leader in Japan. In other words, it is the 14th ** Lama's all-out "support" that turned Shoko Asahara, a swindler and a mountebank, into "a religious teacher".It was because of the 14th ** Lama who persistently supported and trumpeted Shoko Asahara that the Aum Shinrikyo cult could acquire the privilege of "tax exemption" and accumulated funds to bankroll his cruel evil doing against the Japanese people. In the Spring of 1995, Shoko Asahara organized a terrorist attack by discharging poisonous gas in Tokyo's subway, killing 12 people and injuring 5,000 others. The event sparked indignation from the Japanese people. In October of the same year, Shoko Asahara and his die-hard followers stood public trial in a local court of Tokyo and were punished in line with laws.Even at this moment, the 14th ** Lama who claimed to be a "human rights fighter" still spoke plausibly to the Kyodo News Service that Shoko Asahara remained his friend and that he still thought what the Aum Shinrikyo cult preached was in accordance with Buddhist doctrines. It was the support and connivance of the 14th ** Lama who took the foe for his friend that made Asahara feel secure in the knowledge that he had strong backing. The evil cult continued to do evils under the guise of constantly changed names and leaders. Eventually in 1999, the Japanese Senate completed the legislative procedures against evil cults including the Aum Shinrikyo. The Tokyo authorities also took a number of measures to crack down on the leaders of the evil cult.Why would the 14th ** Lama openly violate the teachings of Sakyamuni that urge his followers to get rid of demons and uphold truth and laws to favor Aum Shinrikyo? Why would he flout the tenets of Buddhism urging the masses not to do evils but to do good deeds? The 14th ** Lama had confessed in a letter to the cult, appreciating the Aum Shinrikyo Sect for its "generous donation to our Buddhist collective in exile". Aha, it turned out to be that the "leader" even bartered away the sacred tenet of Buddhism as a cheap bargaining chip in money deals.It is the 14th ** Lama's own deeds that have step by step betrayed his real intentions and political ambitions put under the guise of Buddhism and peace. A weekly newspaper in Manila commented it was a pity that the 14th ** Lama wore the cassock of a Lama but played political tricks, spoke of the pursuit of freedom through peaceful means but harbored in mind the vain attempt of restoring the past feudal rule of Lamaism. Even catholic senator P. Santorum of the United States couldn't help exclaiming that such conduct reflected a subdued religious sentiment. He held that to establish a society respecting life, cracking down upon crimes and promoting dignity of mankind, efforts must be made to prevent religion from being individualized. It appears that many people of insight across the world have recognized the tricks of the 14th ** Lama in using Tibetan Buddhism to engage in political activities and have stayed on high alert to and repulsed the deed of the ** Lama.Let's now have a look at the 14th ** Lama's attitude toward China's evil cult Falun Gong. Cult leader Li Hongzhi of Falun Gong took religion as pretence, trampled upon religious doctrines and thus invited indignation, reprimands and stern objections from the religious circles. They said that Li Hongzhi had blasphemed Buddhism by fabricating his birthday from July 1952 to May 13, 1951, the date on which Sakyamuni was believed to be born. His attempt to pass himself as the reincarnation of Sakyamuni and his bragging about getting true knowledge from Sakyamuni and thus being more powerful than Sakyamuni was "an extreme blasphemy to Buddhism", they said. However, even such an evil cult leader who is denounced by many people and had to flee abroad to escape the punishment of laws secured compassion and admiration from the 14th ** Lama. The latter first dispatched his representative to comfort Li Hongzhi and then sent over his representatives to conspire with Li and staged various farces at the time when the 56th World Human Rights Conference was held in Geneva, stopping at nothing to spread lies and rumors and to trumpet anti-China bills.As one Chinese saying goes: Birds of a feather flock together. The real reasons for the collusion of the 14th ** Lama and Li Hongzhi are their shared situation. They are both in exile after their illegal acts to subvert the Chinese government and the Chinese people ended in constant failures under the august Chinese Constitution and laws; Shared nature--They are both not resigned to failures and attempt to hoodwink and manipulate their few domestic followers to carry on making turbulence and to hold back the rejuvenation of the Chinese nation; Shared intention--They are both hostile to their motherland and regard the 1.3 million Chinese as enemies, dreaming a pipe dream of returning to China, with the support of their masters, to materialize their evil objective of splitting China. Imagine the 14th ** Lama, the self-proclaimed "religious leader", even condescended to associate with Li Hongzhi who has been labeled by the United International World Buddhism Association Headquarters as a preacher of evil cult and a swindler! This obviously reflects that the 14th ** Lama has cornered himself into a dead end!

The Chinese government expresses strong dissatisfaction about the U.S. decision to impose penalty tariffs against the imports of Chinese coated free sheet paper, Wang Xinpei, spokesman for China's Ministry of Commerce, said early Saturday. The Department of Commerce of the United States on Friday announced its preliminary decision to apply U.S. anti-subsidy law to the imports of coated free sheet paper from China. "This action of the U.S. side goes against the consensus reached by the leaders of both countries to resolve differences through dialogue," Wang said. "China strongly requires the U.S. side to reconsider the decision and make prompt changes," the spokesman said, adding China will closely watch the development of the issue and protect its own legitimate rights. In 1984 the United States set the policy of not applying anti-subsidy law to "non-market economies". Such a practice had been taken as a judicial precedent and had not been changed, Wang said. The preliminary decision of the U.S. Commerce Department made a bad instance and it obviously does not conform with the current judicial precedent of U.S. courts and the consistent practice of the U.S. Commerce Department, the spokesman said. While regarding China as a non-market economy, the U.S. ignored the strong protests from China and decided to apply its anti-subsidy law against China. "The decision brings great harm to the interests and feelings of Chinese business people and is not acceptable," Wang said.The U.S. Department of Commerce on Friday announced its preliminary decision to apply U.S. anti-subsidy law to imports from China. The decision alters a 23-year old bipartisan policy of not applying the countervailing duty (CVD) law to China, which the U.S. government regarded as a "non-market economy", said the Department of Commerce in a statement, adding the change reflects China's economic development. "China's economy has developed to the point that we can add another trade remedy tool, such as the countervailing duty law. The China of today is not the China of years ago," said Commerce Secretary Carlos M. Gutierrez. The U.S. government also claimed that Chinese producers and exporters of coated free sheet paper received countervailable subsidies ranging from 10.90 to 20.35 percent. From 2005 to 2006, imports of coated free sheet paper products from China increased approximately by 177 percent in volume, and were valued at an estimated at 224 million dollars in 2006.

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WASHINGTON - US Treasury Secretary Henry Paulson will visit China's largest lake next week on a trip that will highlight global environmental challenges. Treasury Secretary Henry Paulson speaks during an interview with Reuters in Washington July 2, 2007. [AP]Paulson will also hold talks in Beijing with President Hu Jintao that will focus on the Strategic Economic Dialogue, high-level discussions launched last year in an effort to deal with economic tensions between the US and China. "This trip is part of an ongoing process to strengthen our strategic economic relationship - to address long-term issues such as working with China to rebalance its growth and increase the flexibility of its currency and also to address short-term issues as they arise," Paulson said Tuesday in announcing the trip. Paulson will begin the trip with a visit July 30 to Qinghai Lake, the largest lake in the country and an example of some of the environmental challenges facing China as it struggles to deal with pollution. "The only way to make progress on climate change is to engage all the large economies, developed and developing, to work toward embracing cleaner technology and reducing emissions," Paulson said. "What's happening with the environment in the middle of China not only affects the local climate and economy but also the global climate and economy." Paulson will meet on July 31 in Beijing with Hu and Vice Premier Wu Yi, who is leading the Chinese side in the strategic dialogue talks. The administration is coming under pressure from Congress to show results from these discussions, particularly in the area of currency values. American manufacturers contend that the yuan is undervalued by as much as 40 percent, which makes Chinese products cheaper for US consumers but makes it more difficult for US products to be sold in China. The first strategic dialogue session was held in Beijing last December with a follow-up meeting in Washington in May. The two countries have pledged to meet twice a year with the next session to take place in China later this year. An exact date has not yet been announced. The Treasury Department said in a statement announcing the trip that Paulson in his meetings with Chinese leaders would raise issues of concern to Congress as well as follow up on issues that were identified as priority items at the May meeting of the strategic dialogue. US lawmakers have grown increasingly unhappy as America's trade deficit with China has soared, hitting 3 billion last year, the largest ever recorded with a single country and one-third of the US total deficit with the rest of the world. Various bills have been introduced that would require the administration to take a harder line on the currency issue including pursuing economic sanctions if China does not move more quickly to allow its currency to rise in value against the dollar. China has reiterated that it does not manipulate its currency and the currency reforms are moving as quickly as the developing economy and financial system will allow.

China, with a record .2 trillion of foreign-exchange reserves, will keep the "bulk" of its US dollar holdings because the currency is one of safest investment options, a People's Bank of China assistant governor said. The dollar remains "important" because trade and foreign direct investment is conducted mostly in the currency, Yi Gang told delegates at a meeting that was closed to the media at the World Economic Forum in Singapore. Asian central banks will continue to hold most of their reserves in dollars, he said. "Safety, return and liquidity are the three most important elements that people should consider when they talk about reserves," Yi said in a recording of the discussion that was obtained by Bloomberg News. "As far as we're concerned, the serious reduction of the dollar reserve is a small probability," he said, adding that any adjustments to its dollar holdings will be "incremental." China's gross domestic product expanded 11.1 percent in the first quarter, making it the world's fastest-growing major economy, led by sustained demand for its exports to the US and other trading partners. Diversification of the nation's foreign-exchange reserves will be gradual and won't hurt the dollar or financial markets, Market News International said last month, citing Ding Zhijie, one of five advisers to the reserves agency's committee. 'Gradual Process' China's trade surplus, which the Asian Development Bank estimated will climb by 45 percent to a record 7 billion next year, has sparked calls for further gains in China's yuan. Some US lawmakers have said that the yuan was undervalued by 40 percent to make China's exports cheap and pledged trade sanctions as punishment. The central bank expects the yuan exchange rate will gradually move toward a "market-oriented direction," Yi told reporters after the meeting Monday. The currency has risen about 8.6 percent since the dollar link was abandoned in July 2005. "The central bank of China has the responsibility to keep the exchange rate at more or less a stable level," Yi said. "The mechanism is more toward a market-oriented direction."