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The China Meteorological Ad-ministration (CMA) Tuesday announced the completion of a national climate observation network to help mitigate global warming.CMA director Zheng Guo-guang said the network would collect accurate information about climate change."Climate change is threatening the environment, state security and economic development," Zheng said.Responding to a UN plan, China's first climate observation network was set up in 1997. Seven departments - meteorology, water affairs, agriculture, environmental protection, forestry, ocean and scientific research - joined the network.The network set up 16 key observation areas, Zhang Renhe, director of the Chinese Academy of Meteorological Sciences Director, said.These are: Atmosphere and land systems in the Qinghai-Tibetan plateau, glacier; water and ecological systems in the Tianshan Mountain area; Xilingol pastures in the Inner Mongolia Autonomous Region; Dunhuang desert in Gansu Province; forests in Northeast China; water circulation systems in Sichuan and Yunnan provinces; agriculture in the Yellow and Huaihe river basins; the lakes of Dongting and Poyang; the atmosphere around Mount Waliguan in Qinghai Province; ecological systems in source regions of the Yangtze, Yellow and Lancang rivers; the economic belt around Beijing; economic development zones in the Yangtze and Pearl river deltas; Sichuan Basin; the land-ocean-atmosphere system around Bohai Sea; air-sea interaction in the South China Sea; and comprehensive oceanic observations.By observation and data processing, the network should provide data about temperatures, glaciers, frozen soil, accumulated snow, aerosoles, greenhouse gases, ozone, plant and soil."This data can help China predict natural disasters, strengthen forecasts of extreme weather events and be more adaptable when it comes to industrial projects," Zheng said.A National Climate Change Program was released in June, which pledged to cut greenhouse gas emissions, but with no specific goals.

BEIJING - Chinese share prices rebounded by 1.88 percent on Tuesday with the Shanghai Composite Index, which covers both A and B shares, closing at 5,285.45 points at the end of morning session.The Shenzhen Component Index on the smaller bourse ended at 17,213.70  points, up 0.87 percent.The rise came after a fund has been approved to open for additional subscriptions late this week, which is believed to be a new signal from the government to back up the stock market.On November 4, China's Securities Regulatory Commission (CSRC) issued a notice ordering fund firms not to expand the promised scale of their funds within six months.Heavy weights drove up the share prices. Sinopec went up by 6.58 percent while the new market heavy weight PetroChina by 2.88 percent. China Shenhua rose by 2.36 percent.Steel shares also jumped, with Baosteel, the nation's biggest steel producer, rising 4.10 percent to 15.75 yuan, and with Anyang steel up by 9.39 percent to 10.25 yuan.On Monday, the benchmark Shanghai Composite Index dropped 2.4 percent, or 127.81 points, to close at 5,187.73 points, after falling to as low as 5,032.58 points in intra-day trading.Last week, the Shanghai Composite Index fell 8 percent to 5,315.54, the biggest weekly loss during the past nine years.

BEIJING -- Beijing has seen a 30 percent decrease in residents' complaints about airborne debris around construction sites in the first 11 months of this year compared with a year earlier, the municipal environment authorities said Sunday.The city fined 7,467 construction sites in 2007 for failing to control dust, involving a total of about 10 million yuan (US.3 million), according to the municipal environmental watchdog. The city also  fined more than 4,000 illegal outdoor barbeques and rubbish incineration facilities.The city reached its goal of 245 "blue sky" days for 2007 on Sunday, when a cold front helped the city hit an annual air quality improvement target just two days before the year ends.Statistics also show that although the number of "blue-sky" days did not increase dramatically, Beijing recorded only three heavily-polluted days this year, sharply down from last year's 13.The Chinese capital launched a drive, "Defending the Blue Sky," in 1998, when it only had 100 days of fairly good air quality. The Olympic host city aims to make 70 percent of the days in 2008 meet the standard.

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WUHAN: The China Enterprise Confederation (CEC) has released its latest list of the country's top 500 companies.State-owned China Petrochemical Corporation, also called Sinopec, was the largest company by revenue, with 1.06 trillion yuan (9.5 billion) in 2006. It was the only company to top 1 trillion yuan.Foreign trade dealer Zhucheng Waimao Co Ltd ranked 500. The Shandong province-based company recorded 7.216 billion yuan.Companies in the list witnessed a 23.7 percent increase in revenue and 25.9 percent hike in profits from the previous year, largely because of continued growth from mergers and acquisitions.However, the money-earning performance of the 500 still falls far behind that of the world's top 500 as compiled by Forbes.China's top performers recorded a modest 4.72 percent on profit margin, lower than the average 7.32 percent of the world's top 500, the CEC report said.The return on equity of the top 500 was 10.1 percent, much lower than the 16.1 percent of the world's top 500."The top 500 China is still mainly ranked in size instead of performance," Li Wei, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council said."That is a gap between China and developed countries."A total of 22 Chinese companies were among the world's top 500 in 2007. Sinopec, the largest company in China, ranked 17th."China's top firms have still focused their business on traditional industries, mainly manufacturing," Yang Du, professor at Renmin University of China, said.As many as 280 companies, accounting for 56 percent of the top 500 are from manufacturing industries, and less than 30 percent are from service-related industries.China's top 500 have been continually expanding, with 131 of them, merging and acquiring some 408 other businesses last year."But these merger and acquisition (M&A) activities are mainly limited within the same industries and few of the M&A deals are cross-industries," Yang said.Among the top 500, 96 are headquartered in Beijing and 40 are from East China's Jiangsu Province.

General Secretary of the Communist Party of China (CPC) Central Committee Hu Jintao and visiting Chinese Kuomintang (KMT) Honorary Chairman Lien Chan underscored peace and development across the Taiwan Straits in their meeting in Beijing Saturday. Hu Jintao (R), General Secretary of the Communist Party of China (CPC) Central Committee, meets with Honorary Chairman of the Chinese Kuomintang (KMT) Lien Chan at the Great Hall of the People in Beijing, capital of China, in this April 16, 2006 file photo. [Xinhua]"Peace and development should be the theme of cross-Straits relations, and the common goal of the people both in the mainland and Taiwan," Hu said. Lien said peace was the basis for cross-Strait prosperity and development. Compatriots from both sides of the Straits should face up to the challenges and continue to pursue peace, so as to create economic prosperity on both sides of the Straits. The mainland is creating a miracle with a growth rate of about 10 percent for 27 years, he noted. "Peace and prosperity live together, for if there is no peace, there will be no prosperity, and only peace creates opportunities for us to pursue prosperity," he said. Lien arrived on Thursday leading a KMT delegation to attend a cross-Straits economic and trade forum, which closed on Saturday. Hu extended warm congratulations on the behalf of the CPC Central Committee for the success of the forum. "The two-day forum is an important activity for the two parties to continue exchanges and dialog," Hu said. The mainland announced at the forum a new package of beneficial policies to promote cross-Straits economic and trade relations, and the participants also passed joint proposals for closer economic and trade ties across the Straits. The 15 new favorable policies announced by the mainland pointed out a new direction for the future cross-Straits economic and trade development, Lien told Hu. Hu and Lien met for the first time in Beijing a year ago when Lien, then chairman of the Taiwan-based KMT party, had an "ice-breaking" journey to the mainland. It was also the first meeting between top leaders of the CPC and KMT in 60 years. Hu called for closer personnel, economic and cultural exchanges between the mainland and Taiwan to curb Taiwan secessionist activities and maintain peace across the Taiwan Strait.

BEIJING - China's currency, the yuan, hit a new high against the US dollar on Thursday, following an overnight key interest rate cut in the United States.The yuan, also known as the renminbi, went up 145 basis points from the previous day to a central parity rate of 7.1853 yuan to one dollar, breaking the 7.19 mark.The Federal Reserve on Wednesday cut US interest rates by a bold half-percentage point as part of its efforts to shore up economic growth.The move came just eight days after the US central bank slashed rates by three quarters of a percentage point, leading the dollar to weaken against other major world currencies.The Chinese currency had appreciated against the greenback by about 12 percent since a new currency regime was imposed in July 2005 to revalue and de-peg it from the dollar.It had climbed 6.9 percent against the dollar in the past year, but some US critics say it remains undervalued, giving Chinese exporters an unfair advantage and resulting in the massive trade imbalance between the two countries.China was not against revaluation of the yuan, but opposed "excessively rapid" appreciation that was inappropriate to its national conditions, Commerce Minister Chen Deming said last month.Premier Wen Jiabao also said China would improve the yuan's exchange rate mechanism in a controllable and gradual manner, let the market play a bigger role in the mechanism and enhance the currency's flexibility.

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China Railway Construction Corp. (CRCC), the country's leading rail builder, may raise as much as 22.25 billion yuan (3.1 billion U.S. dollars) in its initial public offering (IPO) in Shanghai.     In a statement to the Shanghai Stock Exchange late Sunday, the state-owned company said it has cut the number of A shares it is offering to 2.45 billion from 2.8 billion after reconsidering its capital demand.     The 2.45 billion shares represent 23.44 percent of CRCC's outstanding capital. The firm had built nearly 34,000 kilometers of rails by the end of 2006, more than half of all the rail links built nationwide since 1949.     On Feb. 14, CRCC was given green light by the China Securities Regulatory Commission to issue no more than 2.8 billion A shares on the Shanghai Stock Exchange.     The IPO price range was set between 8 to 9.08 yuan and it translated into 26.92 to 30.56 earnings multiples after the domestic share sale, according to the statement.     The company would start to receive from institutional investors orders for its 612.5 million shares, or 25 percent of the offering, on Feb. 25 and 26. The retail investors would be able to subscribe for the remaining shares on Feb. 26, the statement noted.     CRCC also planned to sell no more than 1.71 billion H shares in Hong Kong.     The company established its name by building the Qinghai-Tibet railroad, Shanghai maglev rail line and the Beijing-Kowloon railway. It also took the largest share in the bidding for the construction of the express railway linking Beijing and Shanghai.     Its total assets amounted to 155 billion yuan (21.7 billion U.S. dollars) by the end of November 2007, with net profit reaching 2.8 billion yuan (391.8 million U.S. dollars).

China is tightening its grip once more on foreign investors in Chinese real estate, banning them from borrowing offshore in the latest effort to tame property prices and cool the economy. The new rule, set out in a circular from the State Administration of Foreign Exchange , could squeeze foreign investors who take advantage of lower interest rates outside China. Some may find it especially difficult to fund projects as Beijing has told its banks to cut back on loans for the construction industry. The central bank ordered Chinese banks to stop lending for land purchases as far back as 2003. "The only alternative is to fund the entire equity," said Andrew McGinty, a partner at the law firm Lovells in Shanghai. "But that's not a very favoured method, because your internal return on investment goes down dramatically." Property funds operating in China tend to borrow to fund at least 50 percent of a project's value. The circular, which the currency regulator sent to its local branches in early July but has not yet published on its Web site, also increases red-tape for foreign property investors. Investors seeking to bring capital into China to set up a real estate company must now lodge documents with the Ministry of Commerce in Beijing -- not just with local branches of the ministry, according to the new circular with de facto effect from June 1. That process could take a month or more, said an official at the Ministry of Commerce, declining to be identified. "What we mean is very clear: First we are targeting foreign real estate firms that are illegally approved by local governments," a SAFE official said. McGinty said the new rule would reduce foreign investment in the real estate sector, but the real impact would depend on how it is enforced. UNCERTAIN IMPACT China has applied a raft of measures to rein in property investment, including interest rate rises and rules to discourage construction of luxury homes. Some steps have specifically targeted foreign investors, who account for less than 5 percent of total investment in the property sector. Foreign investors must now secure land purchases before setting up joint ventures or wholly owned foreign enterprises in China. However, funds such as those run by ING Real Estate, Morgan Stanley , Hong Kong's Sun Hung Kai Properties , Henderson Land Development and Singapore's CapitaLand Ltd. are pouring more money than ever into China to tap a middle class hunger for new homes and rising capital values. China's urban property inflation rose to 7.1 percent in June, compared with a year earlier, from 6.4 percent in May. McGinty said some foreign investors may eventually quit China for more interesting markets if an inability to employ leverage reduces their internal rate of return. However, others said they would stay on. "We are not too worried about it. Cooling measures won't stay forever," said Robert Lie, Asia chief executive for ING Real Estate, which has raised a 0 million fund to build housing in China. ING Real Estate borrows locally, partly to hedge its currency risk. Most other foreign investors in China do the same. Some foreign property firms that have been in China for many years have strong connections with local lenders -- Chinese banks as well as international banks incorporated in China. "There is still strong interest in China, although there will be some form of slowdown in the number of transactions," said Grey Hyland, head of investment at Jones Lang LaSalle in Shanghai. He said the new approval rules would further dampen the ability of foreigners to compete with local rivals. "It's still early to say how, because these rules are still very new and being tested," Hyland said. One consequence, he added, could be to drive foreign property investors inland to second- and third-tier cities that the authorities are eager to develop and where approval is therefore easier to obtain.

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Beijing's top official on cross-Straits affairs Monday condemned a referendum pushed by Taiwan leader Chen Shui-bian as a move that is threatening to drag ties into a "high-risk period".Chen Yunlin, minister of the Taiwan Affairs Office of the State Council, called the referendum to join the United Nations under the name of Taiwan as a "scheme" aimed at de jure independence for the island.The Taiwan authorities led by Chen Shui-bian are "attempting to change the cross-Straits status quo that both the mainland and Taiwan belong to one China " Chen Yunlin said in a signed article published Monday in the latest issue of Qiushi (Seeking Truth) journal, a publication of the Central Committee of the Communist Party of China.The article came amid mounting concerns from across the Straits and international community over the proposed referendum, which is expected to strain cross-Straits relations and threaten regional stability.In an interview with a German newspaper published Monday, Chen Shui-bian insisted the referendum for Taiwan's admission to the UN will be slated for March as scheduled, along with the island's "presidential" elections.The Taiwan leader was quoted as saying he has no rights to "veto the referendum".Raymond Burghardt, chairman of the American Institute in Taiwan, rapped Chen Shui-bian in a meeting in Taipei last week, saying the United States is greatly concerned about the referendum and hopes it will be scrapped.He said his remarks represented views from the "highest level in Washington".Once Chen Shui-bian's plot materializes, "it will bring serious consequences cross-Straits relations and peace", Chen Yunlin warned in the article.The minister said the fight against pro-independence forces is becoming more and more intense as their secessionist activities are being intensified.He stressed that "China's sovereignty and territorial integrity brook no division, and any matter in this regard must be decided by the entire Chinese people including our Taiwan compatriots"."The 1.3 billion Chinese people will never swallow the bitter fruit of 'Taiwan independence'," Chen Yunlin said.He reiterated that Beijing will stay on high alert of any desperate moves of the secessionist forces of Taiwan.In the event that "Taiwan independence" secessionist forces should act under any name or by any means to cause Taiwan's secession from China, or that major incidents entailing Taiwan's secession from China should occur, we shall resort to necessary measures without hesitation to safeguard national sovereignty and territorial integrity, our core national interests," he said.

Nearly one out of three people in Beijing belongs to the mobile population, according to the capital's population and family planning commission.Workers stand on a temporary dormitory at the Central Business District in Beijing September 2, 2007. China's 120 million migrant workers, the young generation in particular, are demanding higher wages and a better working environment, the Labour Ministry said. [Agencies]The municipality's mobile population reached 5.4 million in October, accounting for nearly 30 percent of the total, the commission's deputy director Li Yunli said.More than 80 percent of the capital's mobile population belongs to the China-unique category of rural migrant workers, Li told a conference on population in Beijing on Monday. The remainder is mostly made up of people visiting for less than a month.She added that migrant workers would comprise the vast majority of both the capital's and the nation's mobile population for a long time to come. Currently, the national mobile population stands at 150 million.The most recent influx of migrant workers boosted the capital's population to about 17.4 million by October, signaling Beijing's population would likely exceed its threshold of 18 million earlier than previous forecasts, Li said.The total population would continue to grow in Beijing over the next five or 10 years, Li said, and "that would further strain scarce resources, including land, water and energy".Previous research has suggested that accommodating more than 14 million residents would exceed Beijing's food- and water-supply capacities.More than 130,000 people were born in Beijing in 2007 as of October, and more than one-third of them were born to migrant families, Li said. And according to her, there would be even more births next year.This year, most of the capital's unplanned births were to migrant families, Li said."Family planning among migrant workers is crucial to China's overall family planning, and the construction of a new socialist countryside and a harmonious society," deputy director of the State Population and Family Planning Commission Wang Guoqing was quoted as saying by Xinhua news agency earlier.In addition, most of the migrant workers in Beijing work labor-intensive jobs in fields such as manufacturing, home furnishing, catering, cleaning and domestic services.Most migrant workers received little education, with 60 percent of them dropping out after junior middle school mainly because of financial problems, Li explained.More than half of them earn less than 1,200 yuan (0) per month and live in poorly equipped rental rooms, Li added.Researcher with China Foundation for International and Strategic Studies Qin Xiaoying said that if migrant workers remain economically and socially marginalized, mental anguish could flourish among the demographic and threaten social stability.The commission urged governments at all levels to improve public services for the migrant population, protect their legal rights and interests, and reduce discrimination against them.