The Beijing Olympics was a spectacular experience with excellent facilities and arrangements, Indonesian weightlifter Triyatno told Xinhua on Tuesday.
Triyatno felt that he was really fortunate to have been sent to compete in Beijing. He not only earned medal, but could see how the spectacular opening ceremony at the Bird's nest stadium.
Tri gave the country its second Olympic medal. He lifted a total 298 kilograms in the men's 62kg division.
Tri said that he really thanks God after winning the competition. He said that his happiness doubled after knowing that there will be big bonus from the Indonesian weightlifting association, state ministry of youth and sports and provincial government Lampung Sumatera where he used to be.
Source: Xinhua
Tuesday, August 26, 2008
Mongolian official says Beijing Olympic Games brings surprise
The Beijing Olympic Games was held successfully and brought about surprise and miracles, Nasanbat Oyunbat, director of the Mongolian Olympic national delegation, said on Tuesday.
The opening ceremony of the Beijing Olympics was wonderful and impressive to the world, Oyunbat told Xinhua.
"My friends saw me on TV at the opening ceremony," she said. "I am very happy about that and this is a miracle for me."
The Mongolian sports official was very excited that her country got its first Olympic gold medal from the Beijing Olympics.
"Beijing blessed Mongolian athletes," she said.
When talking about the days in Beijing, Oyunbat said Mongolian athletes were accustomed to Beijing's food and weather.
"Beijing is an international city. The Olympic Village is very beautiful and just like my home," she said.
Mongolian athletes got two gold medals and two silver medals at the Beijing Olympic Games, which was a breakthrough for the country.
Source: Xinhua
The opening ceremony of the Beijing Olympics was wonderful and impressive to the world, Oyunbat told Xinhua.
"My friends saw me on TV at the opening ceremony," she said. "I am very happy about that and this is a miracle for me."
The Mongolian sports official was very excited that her country got its first Olympic gold medal from the Beijing Olympics.
"Beijing blessed Mongolian athletes," she said.
When talking about the days in Beijing, Oyunbat said Mongolian athletes were accustomed to Beijing's food and weather.
"Beijing is an international city. The Olympic Village is very beautiful and just like my home," she said.
Mongolian athletes got two gold medals and two silver medals at the Beijing Olympic Games, which was a breakthrough for the country.
Source: Xinhua
Interview: Success of Beijing Olympics due to joint efforts by Chinese gov't and people
Bangladeshi senior journalist and President of Commonwealth Journalist Association Hassan Shahriar said here Tuesday the success of Beijing Olympics is due to joint efforts of the Chinese government and the Chinese people.
In an exclusive interview with Xinhua, Shahriar said the success of Olympics not only enhanced the pride of the Chinese people, but also the people of Asia.
At the invitation of 2008 Beijing International Media Center, Shahriar and 7 other Bangladeshi journalists visited Beijing and Tianjin from Aug. 18 to 25.
Shahriar said he was deeply impressed by the hospitality of the Chinese government and the Chinese people and he brought back a lot of beautiful memories.
He said he appreciated the Olympic volunteers very much, saying the volunteers not only spoke good English, but also were very friendly and helpful.
Shahriar said the common people in China also showed their hospitality to them. "When we went for shopping or walked in the streets, some Chinese people would come to us and asked if we needed help," he said.
Shahriar has been working as a journalist for more than 40 years and interviewed a lot of foreign leaders, but it is the first time for him to see Olympics.
Shahriar said, "This is the first time for me to see Olympics. I feel very excited. For me it seems a dream comes true."
He said he could feel the Chinese government had made very good preparations for the Olympic Game.
Shahriar visited China for the first time a few years back. "But this time I become to know more of China and the Chinese people," he said.
Shahriar said Olympics has given a chance for China to expose its culture, history to the world. "Because of the Olympics, Beijing becomes a household-known name in the world, it is also a success of China," he said.
Shahriar said he is very happy to have the opportunity to visit China during Olympics, experiencing the holiday atmosphere in China.
Source: Xinhua
In an exclusive interview with Xinhua, Shahriar said the success of Olympics not only enhanced the pride of the Chinese people, but also the people of Asia.
At the invitation of 2008 Beijing International Media Center, Shahriar and 7 other Bangladeshi journalists visited Beijing and Tianjin from Aug. 18 to 25.
Shahriar said he was deeply impressed by the hospitality of the Chinese government and the Chinese people and he brought back a lot of beautiful memories.
He said he appreciated the Olympic volunteers very much, saying the volunteers not only spoke good English, but also were very friendly and helpful.
Shahriar said the common people in China also showed their hospitality to them. "When we went for shopping or walked in the streets, some Chinese people would come to us and asked if we needed help," he said.
Shahriar has been working as a journalist for more than 40 years and interviewed a lot of foreign leaders, but it is the first time for him to see Olympics.
Shahriar said, "This is the first time for me to see Olympics. I feel very excited. For me it seems a dream comes true."
He said he could feel the Chinese government had made very good preparations for the Olympic Game.
Shahriar visited China for the first time a few years back. "But this time I become to know more of China and the Chinese people," he said.
Shahriar said Olympics has given a chance for China to expose its culture, history to the world. "Because of the Olympics, Beijing becomes a household-known name in the world, it is also a success of China," he said.
Shahriar said he is very happy to have the opportunity to visit China during Olympics, experiencing the holiday atmosphere in China.
Source: Xinhua
Australian Olympians back home with hero-like reception
Australia's Olympians, boosted by the glory of their achievements in the Beijing Olympic Games, received a heroes' welcome of fanfare and cheers in Sydney on Tuesday.
With a total of 46 medals clinched by the Australian athletes, including 14 gold medals, the Olympic team was greeted by Prime Minister Kevin Rudd and hundreds of family and friends.
Most of the 435 Olympians arrived home early Tuesday after finishing sixth in the medal tally and winning a podium position in 14 sports.
Oarsman and opening ceremony flag-bearer James Tomkins, returning from his sixth Olympics, said the team was "pumped" to be back in Australia.
"The support that we got from Australia was incredible, the messages of support to all the athletes was unbelievable," the Australian Associated Press quoted him as saying.
"Then to come back here and realize the enormity of the achievement of the team was absolutely phenomenal."
Rudd said the preparations for the 2012 London Olympics would begin today.
"Every man, woman and child in this nation Australia is proud of every one of you, well done," he told the athletes.
"To hear the roar of the crowd in China welcoming this great team for Australia says for me one thing - you are great ambassadors for Australia and the nation thanks you," the prime minister said.
Source: Xinhua
With a total of 46 medals clinched by the Australian athletes, including 14 gold medals, the Olympic team was greeted by Prime Minister Kevin Rudd and hundreds of family and friends.
Most of the 435 Olympians arrived home early Tuesday after finishing sixth in the medal tally and winning a podium position in 14 sports.
Oarsman and opening ceremony flag-bearer James Tomkins, returning from his sixth Olympics, said the team was "pumped" to be back in Australia.
"The support that we got from Australia was incredible, the messages of support to all the athletes was unbelievable," the Australian Associated Press quoted him as saying.
"Then to come back here and realize the enormity of the achievement of the team was absolutely phenomenal."
Rudd said the preparations for the 2012 London Olympics would begin today.
"Every man, woman and child in this nation Australia is proud of every one of you, well done," he told the athletes.
"To hear the roar of the crowd in China welcoming this great team for Australia says for me one thing - you are great ambassadors for Australia and the nation thanks you," the prime minister said.
Source: Xinhua
Australian swimmer Rice denies romance with American Phelps
Australian swimming star Stephanie Rice said on Tuesday the report about her romantic relationship with American swimmer Michael Phelps was just a rumor.
The triple Olympic gold medal winner in Beijing said the reports she kissed Phelps at a Games celebration in Beijing was wrong, but she said meeting the record-breaking winner of eight Olympic gold medals at Beijing was inspirational.
Rice and her former boyfriend - fellow Australian swim team member Eamon Sullivan - appeared before media and shoppers at a Sydney department store on Tuesday hours after returning from China.
The 20-year gold medallist denied reports she shared a kiss with superfish Phelps at a post-swim meet party. "It was just great to meet him and meet people you usually see on TV like Nadal and Federer," she said.
"For me, Michael Phelps is a real inspiration and someone you really look up to," Australian Associated Press quoted her as saying.
Rice and Sullivan parted ways on the eve of the Olympics after a two-year romance, saying they wanted to concentrate on their swimming.
Sullivan, 22, who took silver in the 100m freestyle, said he hadn't spoken to Rice about the reports of a relationship with Phelps.
"She's a mature girl and makes her own decisions and we're just enjoying being friends and that's something you just can't take away," he said.
Rice's personal life has been the subject of speculation after taking her trifecta of gold in the 200m and 400m individual medleys and the 4x100m freestyle relay.
Source: Xinhua
The triple Olympic gold medal winner in Beijing said the reports she kissed Phelps at a Games celebration in Beijing was wrong, but she said meeting the record-breaking winner of eight Olympic gold medals at Beijing was inspirational.
Rice and her former boyfriend - fellow Australian swim team member Eamon Sullivan - appeared before media and shoppers at a Sydney department store on Tuesday hours after returning from China.
The 20-year gold medallist denied reports she shared a kiss with superfish Phelps at a post-swim meet party. "It was just great to meet him and meet people you usually see on TV like Nadal and Federer," she said.
"For me, Michael Phelps is a real inspiration and someone you really look up to," Australian Associated Press quoted her as saying.
Rice and Sullivan parted ways on the eve of the Olympics after a two-year romance, saying they wanted to concentrate on their swimming.
Sullivan, 22, who took silver in the 100m freestyle, said he hadn't spoken to Rice about the reports of a relationship with Phelps.
"She's a mature girl and makes her own decisions and we're just enjoying being friends and that's something you just can't take away," he said.
Rice's personal life has been the subject of speculation after taking her trifecta of gold in the 200m and 400m individual medleys and the 4x100m freestyle relay.
Source: Xinhua
Other side of "Lightning Bolt"
Aside from the tremendous achievements at the 2008 Beijing Olympics by the world fastest man, Jamaican Usain Bolt, his true character was revealed at the Westin Beijing Hotel.
Just 2 days after his 22nd birthday, Usain Bolt said that he was overwhelmed by the positive support and love shown to him by the Chinese people and wanted to say thank you by making a personal donation of US$ 50, 000 to the Red Cross Society of China.
The other side of the "Lightning Bolt"
"This donation is a gift from me to the children who have been victims of the earthquake in China's Sichuan Province. Some of these children have been seriously injured and may never be able to experience the joy of running or even dancing. It is a difficult time for them and I just hope I can help bring a smile to their face."
Bolt and the Miss World Zhang in the charity conference
Bolt and the Miss World Zhang in the charity conference
Bolt has invited six children to come to Jamaica next year for the World Beach Sprint in the hope that they can have a fun and exciting trip learn more about another culture. In support of Usain's gesture, Jamaica's Minister of Tourism, Hon. Edmund Bartlett has offered the children a fun-filled holiday in Jamaica.
Bolt and his coach
Bolt holds the Olympic and world records for the 100 metres at 9.69 seconds, the 200 metres at 19.30 seconds and, along with his teammates, the 4x100 metres relay at 37.10 seconds, all set at the 2008 Summer Olympics. Bolt became the first man to win all three events at a single Olympics since Carl Lewis in 1984, and the first man in history to set world records in all three at a single Olympics.
The International Red Cross and Red Crescent Movement is the world's largest humanitarian network. The Movement is neutral and impartial, and provides protection and assistance to people affected by disasters and conflicts.
The Movement is made up of almost 97 million volunteers, supporters, and staff in 186 countries.
Bolt and his girlfriend
By Zhenyu Li, staff writer for People's Daily online
Just 2 days after his 22nd birthday, Usain Bolt said that he was overwhelmed by the positive support and love shown to him by the Chinese people and wanted to say thank you by making a personal donation of US$ 50, 000 to the Red Cross Society of China.
The other side of the "Lightning Bolt"
"This donation is a gift from me to the children who have been victims of the earthquake in China's Sichuan Province. Some of these children have been seriously injured and may never be able to experience the joy of running or even dancing. It is a difficult time for them and I just hope I can help bring a smile to their face."
Bolt and the Miss World Zhang in the charity conference
Bolt and the Miss World Zhang in the charity conference
Bolt has invited six children to come to Jamaica next year for the World Beach Sprint in the hope that they can have a fun and exciting trip learn more about another culture. In support of Usain's gesture, Jamaica's Minister of Tourism, Hon. Edmund Bartlett has offered the children a fun-filled holiday in Jamaica.
Bolt and his coach
Bolt holds the Olympic and world records for the 100 metres at 9.69 seconds, the 200 metres at 19.30 seconds and, along with his teammates, the 4x100 metres relay at 37.10 seconds, all set at the 2008 Summer Olympics. Bolt became the first man to win all three events at a single Olympics since Carl Lewis in 1984, and the first man in history to set world records in all three at a single Olympics.
The International Red Cross and Red Crescent Movement is the world's largest humanitarian network. The Movement is neutral and impartial, and provides protection and assistance to people affected by disasters and conflicts.
The Movement is made up of almost 97 million volunteers, supporters, and staff in 186 countries.
Bolt and his girlfriend
By Zhenyu Li, staff writer for People's Daily online
Zou becomes China's first Olympic boxing gold medalist
Zou made it. Much easier than expected.
Zou Shiming of China, left, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
Shiming Zou, China's biggest hopeful for its first Olympic boxing gold medal, easily won the gold medal after Mongolia's Serdamba Purevdorj couldn't keep fighting early in the second round because of a shoulder injury in Beijing on Sunday.
Zou Shiming of China, centre, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
Zou took a 1-0 lead following a tune-up first round. The Mongolian got off to a good start, but his coach surprisingly threw in the towel just 19 seconds into the second. The final was over. Zou became China's first-ever Olympic boxing gold medalist after one punch and 139 seconds in the final bout.
The fight was stopped due to an injury to Purevdorj's shoulder when his right arm was hanging limply at his side with 101 seconds remaining in the second.
Zou Shiming of China, centre, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
According to the Mongolian Olympic runner-up, his shoulder hasn't been right since an Olympic qualifying tournament in Kazakhstan. He hurt it again in his semifinal victory over Cuba's Yampier Hernandez, and he was unable to raise it after exchanging sharp punches with Zou early in the second.
Zou Shiming of China, right, fights with Serdamba Purevdorj of Mongolia in the light flyweight 48 kilogram Olympic boxing final at Beijing Workers' Gymnasium, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
"On the surface, it looked like I won the gold medal with no sweat, but there was much work and preparation that went into this," Zou said after the final. "It's regrettable that I couldn't be more entertaining to my fans in the gold medal bout."
By Zhenyu Li, boxing writer for People's Daily online at ringside
Zou Shiming of China, left, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
Shiming Zou, China's biggest hopeful for its first Olympic boxing gold medal, easily won the gold medal after Mongolia's Serdamba Purevdorj couldn't keep fighting early in the second round because of a shoulder injury in Beijing on Sunday.
Zou Shiming of China, centre, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
Zou took a 1-0 lead following a tune-up first round. The Mongolian got off to a good start, but his coach surprisingly threw in the towel just 19 seconds into the second. The final was over. Zou became China's first-ever Olympic boxing gold medalist after one punch and 139 seconds in the final bout.
The fight was stopped due to an injury to Purevdorj's shoulder when his right arm was hanging limply at his side with 101 seconds remaining in the second.
Zou Shiming of China, centre, won the light flyweight 48 kilogram Olympic boxing gold medal by defeating Serdamba Purevdorj of Mongolia in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
According to the Mongolian Olympic runner-up, his shoulder hasn't been right since an Olympic qualifying tournament in Kazakhstan. He hurt it again in his semifinal victory over Cuba's Yampier Hernandez, and he was unable to raise it after exchanging sharp punches with Zou early in the second.
Zou Shiming of China, right, fights with Serdamba Purevdorj of Mongolia in the light flyweight 48 kilogram Olympic boxing final at Beijing Workers' Gymnasium, Sunday, Aug. 24, 2008. Bronze medalists are Yampier Hernandez G of Cuba and Paddy Barnes of Ireland.
"On the surface, it looked like I won the gold medal with no sweat, but there was much work and preparation that went into this," Zou said after the final. "It's regrettable that I couldn't be more entertaining to my fans in the gold medal bout."
By Zhenyu Li, boxing writer for People's Daily online at ringside
The dark horse Zhang Xiaoping bagged the 2nd boxing gold for China
Zhang Xiaoping of China, centre, poses after defeating Kenny Egan of Ireland in the men's light heavyweight 81 final boxing match to win a gold medal at the Beijing 2008 Olympics in Beijing, Sunday, Aug. 24, 2008. Bronze medalists are Tony Jeffries of Britain and Yerkebulan Shynaliyev of Kazakhstan seen at the right.
About two hours after China's light flyweight hopeful Shiming Zou made history in becoming the nation's first Olympic boxing gold medalist, the dark horse light heavyweight Xiaoping Zhang beat the odds to bag the second boxing gold medal for China, outpointing Ireland's Kenny Egan 11-7.
Zhang upset two medal favorites on his way to the title bout, beating Russia's Artur Beterbiev, the silver medalist of the 2007 World Championships, 8-2 in the second round and his old nemesis Yerkebulan Shynaliyev of Kazakhstan, who kicked him out of the last eight in the 2007 World Championships, 4-4 in the semifinal.
In the final, the Chinese light heavyweight took an early lead and held it through the entire bout against Egan, who repeatedly struggled to land scoring punches despite an active attack.
"I performed on a high level both physically and psychologically during the tournament," Zhang said jubilantly after claiming the gold. "Before the Games, my goal rested simply on winning a medal. I didn't expect to reap a gold."
By Zhenyu Li, boxing writer for People's Daily online at ringside
About two hours after China's light flyweight hopeful Shiming Zou made history in becoming the nation's first Olympic boxing gold medalist, the dark horse light heavyweight Xiaoping Zhang beat the odds to bag the second boxing gold medal for China, outpointing Ireland's Kenny Egan 11-7.
Zhang upset two medal favorites on his way to the title bout, beating Russia's Artur Beterbiev, the silver medalist of the 2007 World Championships, 8-2 in the second round and his old nemesis Yerkebulan Shynaliyev of Kazakhstan, who kicked him out of the last eight in the 2007 World Championships, 4-4 in the semifinal.
In the final, the Chinese light heavyweight took an early lead and held it through the entire bout against Egan, who repeatedly struggled to land scoring punches despite an active attack.
"I performed on a high level both physically and psychologically during the tournament," Zhang said jubilantly after claiming the gold. "Before the Games, my goal rested simply on winning a medal. I didn't expect to reap a gold."
By Zhenyu Li, boxing writer for People's Daily online at ringside
Restoring ancient texts a painstaking art
Bending over a brown scroll unfolded over a huge desk, Hu Yuqing meticulously picked on the edge of a new piece of paper that she had glued to the old scroll with a pair of tweezers. She spread the feathery fibers of the paper, which are less than 0.5 cm long, onto the scroll evenly.
"This ensures that the new material won't be stuck to the old scroll abruptly, which will exert too much pressure on the fragile scroll and cause further damage," she explained.
The scroll, full of neat rows of fingernail-sized Chinese characters, is part of a Buddhist scripture hand-written in the Tang Dynasty . Scorched for unknown reasons on both ends, the scripture is one of the precious Dunhuang scrolls stored at the National Library in Beijing.
Hu Yuqing and her 29 colleagues at the Rare Books Restoration Center of the National Library have repaired 5,000m, or half of the Dunhuang scrolls in the library over the past 18 years.
Hu is one of fewer than 200 professionals in China who can restore ancient texts. Despite a shortage of funding, Hu and her colleagues have devoted themselves to restoring the ancient classics, whose mere existence has helped preserve Chinese civilization for some 3,000 years.
In an unprecedented national survey last year, researchers discovered that one third of 30 million classics of historical value, either written on paper or silk, or carved on bamboo slips or other materials, was in urgent need of restoration.
A major boost for the preservation of classics came last March when the State Council issued the first List of National Treasures. The Dunhuang scrolls were included in the 2,392 items of utmost value. The scrolls were first discovered in 1900 in a hidden cave at the Dunhuang Mogao Grottoes of Northwest China's Gansu province, a holy site of Buddhism on the ancient Silk Road.
Of the more than 50,000 pieces of the Dunhuang scrolls in museums, libraries and private collections around the world, some 16,000 are designated national treasures at the National Library.
A palm-sized piece of darker brown paper covered a hole in the scroll Hu was working on one recent day. It was glued on there during a previous restoration by a restorer who had used a piece of a less valuable book to repair the hole.
"There is a certain communication that I have with my predecessors as I repair the damaged scrolls," Hu said.
She has done one-fifth of the restoration work of the scrolls since joining the team in 1987. "It was dull at first, but you get used to it," she said.
According to Du Weisheng, 56, the senior member of the team, the oldest Dunhuang scrolls at the library are more than 1,600 years old. "After our restoration work, they can last for at least another 500 years, " he said.
An army veteran, Du joined the library staff in 1975. He has done restoration work on all four major treasures at the library: the Dunhuang scrolls, the 900-year-old Grand Buddhist Scriptures from the Jin Dynasty , the 600-year-old Yongle Encyclopedia and the 200-year-old Siku Quanshu .
However, restoring ancient texts is far more than just patching and mending. "It takes learning in many fields for someone to succeed in this career," said Zhang Ping, 55, former head of the restoration center.
For example, a master in ancient text restoration must be a connoisseur of paper and fabrics to know what materials to use for repairs. A restorer should also have the expertise to recognize when a book was published from its edition and printing style, Zhang explained.
When the pages of a book are loose or damaged, a restorer must be able to read ancient Chinese well to sort them out in sequence. When the pictures are damaged or indistinct, it helps if he or she knows how to paint to add strokes and colors where they are needed, Zhang said.
"We treat ancient works like doctors their patients. We need to diagnose before deciding on what steps to take. Many classics are the sole copies extant. An error could cause an irrevocable loss. The longer I work in this profession, the more I feel like I am skating on thin ice," said Zhang, who joined the library some 20 years ago as a carpenter.
Du was equally cautious. "It can take me two days to restore one stroke of a written character. That bit of information, however insignificant, could be invaluable to researchers."
Meng Xiaohong is one of the youngest members of the team. In her early 30s, Meng came to the center two years ago with a Masters degree in chemistry from the China University of Mining and Technology and the Chinese Academy of Sciences.
Unlike her colleagues who work with tweezers, glue and paint brushes, Meng was armed with two microscopes and a computer. She analyzes tiny scraps of paper fibers from ancient books. Her report on the physical and chemical condition of the fiber help the restorers find similar materials and, more importantly, find ways for duplicating them.
In repairing the Yongle Encyclopedia, a collection of some 7,000 ancient works, the team couldn't find the same fiber for a book cover. In the summer of 2002, Zhang rode her bicycle all over the city before spotting a similar material at Ruifuxiang, a store selling silk and clothes.
If they could replicate old paper, such an arduous search would be unnecessary, Meng said.
Speaking with an evident passion for her work, Meng compared the aim of her job to the famous armless statue of the Venus de Milo: "You must respect history and beauty, even if it means broken beauty."
Source: China Daily
"This ensures that the new material won't be stuck to the old scroll abruptly, which will exert too much pressure on the fragile scroll and cause further damage," she explained.
The scroll, full of neat rows of fingernail-sized Chinese characters, is part of a Buddhist scripture hand-written in the Tang Dynasty . Scorched for unknown reasons on both ends, the scripture is one of the precious Dunhuang scrolls stored at the National Library in Beijing.
Hu Yuqing and her 29 colleagues at the Rare Books Restoration Center of the National Library have repaired 5,000m, or half of the Dunhuang scrolls in the library over the past 18 years.
Hu is one of fewer than 200 professionals in China who can restore ancient texts. Despite a shortage of funding, Hu and her colleagues have devoted themselves to restoring the ancient classics, whose mere existence has helped preserve Chinese civilization for some 3,000 years.
In an unprecedented national survey last year, researchers discovered that one third of 30 million classics of historical value, either written on paper or silk, or carved on bamboo slips or other materials, was in urgent need of restoration.
A major boost for the preservation of classics came last March when the State Council issued the first List of National Treasures. The Dunhuang scrolls were included in the 2,392 items of utmost value. The scrolls were first discovered in 1900 in a hidden cave at the Dunhuang Mogao Grottoes of Northwest China's Gansu province, a holy site of Buddhism on the ancient Silk Road.
Of the more than 50,000 pieces of the Dunhuang scrolls in museums, libraries and private collections around the world, some 16,000 are designated national treasures at the National Library.
A palm-sized piece of darker brown paper covered a hole in the scroll Hu was working on one recent day. It was glued on there during a previous restoration by a restorer who had used a piece of a less valuable book to repair the hole.
"There is a certain communication that I have with my predecessors as I repair the damaged scrolls," Hu said.
She has done one-fifth of the restoration work of the scrolls since joining the team in 1987. "It was dull at first, but you get used to it," she said.
According to Du Weisheng, 56, the senior member of the team, the oldest Dunhuang scrolls at the library are more than 1,600 years old. "After our restoration work, they can last for at least another 500 years, " he said.
An army veteran, Du joined the library staff in 1975. He has done restoration work on all four major treasures at the library: the Dunhuang scrolls, the 900-year-old Grand Buddhist Scriptures from the Jin Dynasty , the 600-year-old Yongle Encyclopedia and the 200-year-old Siku Quanshu .
However, restoring ancient texts is far more than just patching and mending. "It takes learning in many fields for someone to succeed in this career," said Zhang Ping, 55, former head of the restoration center.
For example, a master in ancient text restoration must be a connoisseur of paper and fabrics to know what materials to use for repairs. A restorer should also have the expertise to recognize when a book was published from its edition and printing style, Zhang explained.
When the pages of a book are loose or damaged, a restorer must be able to read ancient Chinese well to sort them out in sequence. When the pictures are damaged or indistinct, it helps if he or she knows how to paint to add strokes and colors where they are needed, Zhang said.
"We treat ancient works like doctors their patients. We need to diagnose before deciding on what steps to take. Many classics are the sole copies extant. An error could cause an irrevocable loss. The longer I work in this profession, the more I feel like I am skating on thin ice," said Zhang, who joined the library some 20 years ago as a carpenter.
Du was equally cautious. "It can take me two days to restore one stroke of a written character. That bit of information, however insignificant, could be invaluable to researchers."
Meng Xiaohong is one of the youngest members of the team. In her early 30s, Meng came to the center two years ago with a Masters degree in chemistry from the China University of Mining and Technology and the Chinese Academy of Sciences.
Unlike her colleagues who work with tweezers, glue and paint brushes, Meng was armed with two microscopes and a computer. She analyzes tiny scraps of paper fibers from ancient books. Her report on the physical and chemical condition of the fiber help the restorers find similar materials and, more importantly, find ways for duplicating them.
In repairing the Yongle Encyclopedia, a collection of some 7,000 ancient works, the team couldn't find the same fiber for a book cover. In the summer of 2002, Zhang rode her bicycle all over the city before spotting a similar material at Ruifuxiang, a store selling silk and clothes.
If they could replicate old paper, such an arduous search would be unnecessary, Meng said.
Speaking with an evident passion for her work, Meng compared the aim of her job to the famous armless statue of the Venus de Milo: "You must respect history and beauty, even if it means broken beauty."
Source: China Daily
Zhengzhou set to host Asian Art Festival
Thirty-seven performing troupes from across Asia will gather next month at a grand festival in Zhengzhou, capital of central China's Henan province, to provide their distinctive forms of entertainment for locals and tourists from home and abroad.
The 10th Asian Art Festival is sponsored by the Ministry of Culture and the Henan provincial government and organized by the Henan Culture Bureau, the Zhengzhou city government and Kaifeng city government. It will be held in Zhengzhou and the neighboring city of Kaifeng from September 26 to October 8.
Zhengzhou, the main venue, will host the opening ceremony and most of the events.
Troupes from about 20 countries and regions, including South Korea, India, Japan, North Korea, Syria, Kirghizstan, Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Pakistan, Cambodia, Turkey, Israel, Myanmar and Mongolia, as well as those from the Chinese mainland, Hong Kong and Macao, will participate.
Five cultural ministers and 20 diplomats from participating countries will also attend.
The festival will include five types of events - performances, movies, mass cultural activities, exhibitions and a trade fair.
An opening evening party called "Harmonious Asia" will be staged in Zhengzhou on September 26, featuring songs and dances of the various Asian countries and regions.
Troupes will present nearly 100 performances including songs, dances, operas, dramas and concerts.
Chinese delegations will perform local operas including Yuju , Peking Opera and Kunqu Opera.
The closing evening party - called "Meeting in Henan" - will be held in Kaifeng.
The event's Asian Movie Festival will show about 50 films produced in Japan, South Korea, North Korea, Israel and Syria, screened at cinemas, squares, schools and communities in Zhengzhou and Kaifeng. Organizers say it is a rare opportunity for audiences to see films with different cultural backgrounds - the Chinese industry is dominated by domestically produced films and those imported from the United States.
A parade with floats and a tour of theme parks will offer additional public entertainment and recreation.
Visitors will also have an opportunity to see the historic Henan cultural relics. The central province in China is considered the cradle of Chinese civilization and has the largest number of unearthed ancient sites in the country.
Thirty-seven foreign embassies in China will show their art collections at an exhibition in Zhengzhou from September 27 to October 8.
Artists from all over Asia will also display their drawings and sculptures at various exhibitions.
The Asian Art Festival is one of the largest international art events in China. Since Beijing hosted the first art festival in 1998, nine sessions have followed in cities including Hangzhou in Zhejiang, Changchun in Jilin, Foshan in Guangdong and Nantong in Jiangsu.
A total of 141 art delegations from 30 Asian countries and regions have displayed various art forms at festivals over the past 10 years to an audience of nearly 10 million people.
This year is the first time the event to be held in the central region of China.
Organizers expect the event will showcase Henan's brilliant civilization and cultural progress and promote exchanges with Asian countries and regions.
Source: China Daily
The 10th Asian Art Festival is sponsored by the Ministry of Culture and the Henan provincial government and organized by the Henan Culture Bureau, the Zhengzhou city government and Kaifeng city government. It will be held in Zhengzhou and the neighboring city of Kaifeng from September 26 to October 8.
Zhengzhou, the main venue, will host the opening ceremony and most of the events.
Troupes from about 20 countries and regions, including South Korea, India, Japan, North Korea, Syria, Kirghizstan, Singapore, Indonesia, Malaysia, Thailand, Vietnam, the Philippines, Pakistan, Cambodia, Turkey, Israel, Myanmar and Mongolia, as well as those from the Chinese mainland, Hong Kong and Macao, will participate.
Five cultural ministers and 20 diplomats from participating countries will also attend.
The festival will include five types of events - performances, movies, mass cultural activities, exhibitions and a trade fair.
An opening evening party called "Harmonious Asia" will be staged in Zhengzhou on September 26, featuring songs and dances of the various Asian countries and regions.
Troupes will present nearly 100 performances including songs, dances, operas, dramas and concerts.
Chinese delegations will perform local operas including Yuju , Peking Opera and Kunqu Opera.
The closing evening party - called "Meeting in Henan" - will be held in Kaifeng.
The event's Asian Movie Festival will show about 50 films produced in Japan, South Korea, North Korea, Israel and Syria, screened at cinemas, squares, schools and communities in Zhengzhou and Kaifeng. Organizers say it is a rare opportunity for audiences to see films with different cultural backgrounds - the Chinese industry is dominated by domestically produced films and those imported from the United States.
A parade with floats and a tour of theme parks will offer additional public entertainment and recreation.
Visitors will also have an opportunity to see the historic Henan cultural relics. The central province in China is considered the cradle of Chinese civilization and has the largest number of unearthed ancient sites in the country.
Thirty-seven foreign embassies in China will show their art collections at an exhibition in Zhengzhou from September 27 to October 8.
Artists from all over Asia will also display their drawings and sculptures at various exhibitions.
The Asian Art Festival is one of the largest international art events in China. Since Beijing hosted the first art festival in 1998, nine sessions have followed in cities including Hangzhou in Zhejiang, Changchun in Jilin, Foshan in Guangdong and Nantong in Jiangsu.
A total of 141 art delegations from 30 Asian countries and regions have displayed various art forms at festivals over the past 10 years to an audience of nearly 10 million people.
This year is the first time the event to be held in the central region of China.
Organizers expect the event will showcase Henan's brilliant civilization and cultural progress and promote exchanges with Asian countries and regions.
Source: China Daily
China's "most lovable" writer Wei Wei dies at age of 88
Famed Chinese writer Wei Wei died of illness on Sunday. He was 88.
The largely self-taught writer was best known for reporting from the front lines of the Korean War in the 1950s.
His masterpiece, "Who Is the Most Lovable", an eulogy of the heroism and revolutionary spirit of the Chinese People's Volunteers serving in the Korean War, has been read by and influenced generations of Chinese people.
"The most lovable" has become a title to address Chinese soldiers.
Born in 1920 in a poor family in Zhengzhou, capital of central Henan Province, Wei joined the Eighth Route Army at the outbreak of the War of Resistance against Japan in 1937 and became a member of the Communist Party of China in 1938.
He was called a "noble-minded writer", a "dogged solider" and also a "most lovable person" at online forums after people got the news of his death.
Source: Xinhua
The largely self-taught writer was best known for reporting from the front lines of the Korean War in the 1950s.
His masterpiece, "Who Is the Most Lovable", an eulogy of the heroism and revolutionary spirit of the Chinese People's Volunteers serving in the Korean War, has been read by and influenced generations of Chinese people.
"The most lovable" has become a title to address Chinese soldiers.
Born in 1920 in a poor family in Zhengzhou, capital of central Henan Province, Wei joined the Eighth Route Army at the outbreak of the War of Resistance against Japan in 1937 and became a member of the Communist Party of China in 1938.
He was called a "noble-minded writer", a "dogged solider" and also a "most lovable person" at online forums after people got the news of his death.
Source: Xinhua
George Bush wants Michael Phelps as son-in-law?
With eight Olympic gold medals in hand, American Michael Phelps becomes a hot golden bachelor in his country. Now Barbara Bush, George Bush's unmarried daughter, seems to have a crush on Phelps, after the president acted as go-between, U.S. media reported on Tuesday.
"Barbara, 26, often talked about Phelps, 23, with her friends even before the Beijing Olympic Games," the Globe Magazine was quoted as saying.
From her words Barbara apparently admired Phelps' swimming skills and believed he could win many gold medals. Like other American girls, Barbara also regarded Phelps as a charming and handsome athlete, and Prince Charming in her heart.
George Bush was not only with Barbara on this point but also would like to play Cupid.
In order to hook up Barbara with Phelps, George Bush took Barbara to watch Phelps' competition at the National Aquatics Center, or Water Cube where Phelps began his unprecedented eight-gold quest in men's 400 individual medley final on Aug. 10.
When Phelps started his final charge with the freestyle, Barbara stood up in cheers, waving an American national flag.
After Phelps finnaly won the gold medal, George Bush congratulated Phelps on his success and "incidentally" introduced Barbara to him, according to the Globe Magazine.
On Aug. 17, George Bush appeared very excited of Phelps' achieving historic feat of eight golds and invited him to be a special guest in White House next month.
Bush also mentioned he will let Barbara accompany Phelps during the stay.
Source: Xinhua\agencies
"Barbara, 26, often talked about Phelps, 23, with her friends even before the Beijing Olympic Games," the Globe Magazine was quoted as saying.
From her words Barbara apparently admired Phelps' swimming skills and believed he could win many gold medals. Like other American girls, Barbara also regarded Phelps as a charming and handsome athlete, and Prince Charming in her heart.
George Bush was not only with Barbara on this point but also would like to play Cupid.
In order to hook up Barbara with Phelps, George Bush took Barbara to watch Phelps' competition at the National Aquatics Center, or Water Cube where Phelps began his unprecedented eight-gold quest in men's 400 individual medley final on Aug. 10.
When Phelps started his final charge with the freestyle, Barbara stood up in cheers, waving an American national flag.
After Phelps finnaly won the gold medal, George Bush congratulated Phelps on his success and "incidentally" introduced Barbara to him, according to the Globe Magazine.
On Aug. 17, George Bush appeared very excited of Phelps' achieving historic feat of eight golds and invited him to be a special guest in White House next month.
Bush also mentioned he will let Barbara accompany Phelps during the stay.
Source: Xinhua\agencies
Beijing hosts 6.5 million tourists during Olympics
Beijing recorded 6.52 million tourist arrivals, including 382,000 from abroad, during the Olympic Games, official figures showed on Tuesday.
Scenic sites in the city reported total revenues of 162 million yuan , according to the joint monitoring by the Beijing Statistics Bureau, the National Bureau of Statistics' Beijing survey team and the Beijing Tourism Bureau.
The results showed key attractions such as the Forbidden City, the Summer Palace and the Great Wall each received more than 230,000 tourists during from Aug. 8 to 24.
Star-level hotels accepted around 80,000 guests each day. The five-star hotels had an occupancy rate of 81 percent with an average price of 3,604 yuan per room per day.
Source: Xinhua
Scenic sites in the city reported total revenues of 162 million yuan , according to the joint monitoring by the Beijing Statistics Bureau, the National Bureau of Statistics' Beijing survey team and the Beijing Tourism Bureau.
The results showed key attractions such as the Forbidden City, the Summer Palace and the Great Wall each received more than 230,000 tourists during from Aug. 8 to 24.
Star-level hotels accepted around 80,000 guests each day. The five-star hotels had an occupancy rate of 81 percent with an average price of 3,604 yuan per room per day.
Source: Xinhua
Overseas education big lure
Foreign educational institutions are holding seminars and exhibitions to lure more Chinese youngsters to study abroad.
They are being helped by local educational consulting agencies as more parents are eager to send their children abroad.
"We have held six exhibitions this month and attracted about 100 foreign institutions and more than 1,000 students to the events," Jiao Yuying, press officer of the Zhejiang New Orient International Consulting Co, based in Hangzhou, Zhejiang province, said.
Zhejiang is one of the largest recruiting centers for overseas studies because of its booming economy.
"June and August is the peak period. We have received about 210 enquires from foreign universities so far this year. The figure was 180 last year," Jiao said.
He said as foreign universities look to increase their intake, more are looking to Chinese students, he said.
More than 1,000 students have gone abroad to study through New Orient so far this year, up 30 percent over the same period last year.
Hu Fei, who runs an architectural design institute in Hangzhou, plans to send her son to the United States for studies next summer.
"I have confidence in the Western system, which focuses on an all-round education. I believe my son will benefit," she said.
Like many, Hu is a thrifty parent, but when it comes her son's education, no expense is spared.
She has just paid more than 20,000 yuan for a one-month English course at Hangzhou's New Oriental School, for her 18-year-old only son. She wants him to improve his English skills in order to take the TOFEL and SAT exams.
Hu has also set aside a good deal of her savings for her son's further education.
"It will cost at least 1.6 million yuan for his four-year college education overseas," Hu said. "It is worth it."
Hu is only one of such parents willing to spend large sums of money on their children's education.
Affluent people in Hangzhou are more inclined to invest in education when compared with such cities as Beijing, Shanghai, and Chengdu, Xiao Mingchao, deputy general manager of Sinomonitor International, a Beijing-based research company, said.
"The city's super rich are family-oriented and therefore more willing to invest in their children," Xiao said.
Shinyway International, the largest overseas study agency in Zhejiang, said more than 1,000 students used its services to study abroad. It too, registered 30 percent increase compared to the previous year.
Teng Wenzheng, Shinway's director of overseas planning center, said: "Owners of companies, most of whom are not well educated, are eager to send their children abroad.
"Many believe that well educated children with an international vision, will help globalize their businesses."
Statistics show that the average cost for a four-year high school education in the US costs between 250,000 yuan and 300,000 yuan per year.
Source: China Daily
They are being helped by local educational consulting agencies as more parents are eager to send their children abroad.
"We have held six exhibitions this month and attracted about 100 foreign institutions and more than 1,000 students to the events," Jiao Yuying, press officer of the Zhejiang New Orient International Consulting Co, based in Hangzhou, Zhejiang province, said.
Zhejiang is one of the largest recruiting centers for overseas studies because of its booming economy.
"June and August is the peak period. We have received about 210 enquires from foreign universities so far this year. The figure was 180 last year," Jiao said.
He said as foreign universities look to increase their intake, more are looking to Chinese students, he said.
More than 1,000 students have gone abroad to study through New Orient so far this year, up 30 percent over the same period last year.
Hu Fei, who runs an architectural design institute in Hangzhou, plans to send her son to the United States for studies next summer.
"I have confidence in the Western system, which focuses on an all-round education. I believe my son will benefit," she said.
Like many, Hu is a thrifty parent, but when it comes her son's education, no expense is spared.
She has just paid more than 20,000 yuan for a one-month English course at Hangzhou's New Oriental School, for her 18-year-old only son. She wants him to improve his English skills in order to take the TOFEL and SAT exams.
Hu has also set aside a good deal of her savings for her son's further education.
"It will cost at least 1.6 million yuan for his four-year college education overseas," Hu said. "It is worth it."
Hu is only one of such parents willing to spend large sums of money on their children's education.
Affluent people in Hangzhou are more inclined to invest in education when compared with such cities as Beijing, Shanghai, and Chengdu, Xiao Mingchao, deputy general manager of Sinomonitor International, a Beijing-based research company, said.
"The city's super rich are family-oriented and therefore more willing to invest in their children," Xiao said.
Shinyway International, the largest overseas study agency in Zhejiang, said more than 1,000 students used its services to study abroad. It too, registered 30 percent increase compared to the previous year.
Teng Wenzheng, Shinway's director of overseas planning center, said: "Owners of companies, most of whom are not well educated, are eager to send their children abroad.
"Many believe that well educated children with an international vision, will help globalize their businesses."
Statistics show that the average cost for a four-year high school education in the US costs between 250,000 yuan and 300,000 yuan per year.
Source: China Daily
Asteroid dubbed "Beijing Olympics" in space
On August 24, the day the Beijing 2008 Olympic Games concluded successfully, on a communiqué launched by the Minor Planet Center , a newly discovered asteroid was christened "Beijing Aoyun," or Beijing Olympics.
The asteroid, Number of 23408, was discovered by China's Purple Mountain Astronomical Observatory on October 12, 1977 in the Taurus constellation.
To commemorate and celebrate the great event, the observatory appealed to the MPC for the right to name it after "Beijing Aoyun," so as to keep the
great event shining forever in the galaxy.
The "Beijing Aoyun" asteroid rotates in an elliptical orbit with an eccentricity of 0.19, an average of 458 million kilometers from the sun. It travels nearly 1.476 million kilometers a day, and takes 5.3 years to complete one rotation around the sun.
On the asteroid, a rich resource of the universe is preserved. In the future of mankind space travel, in-depth exploration of asteroids will play an important role and be of great significance.
By People's Daily Online
The asteroid, Number of 23408, was discovered by China's Purple Mountain Astronomical Observatory on October 12, 1977 in the Taurus constellation.
To commemorate and celebrate the great event, the observatory appealed to the MPC for the right to name it after "Beijing Aoyun," so as to keep the
great event shining forever in the galaxy.
The "Beijing Aoyun" asteroid rotates in an elliptical orbit with an eccentricity of 0.19, an average of 458 million kilometers from the sun. It travels nearly 1.476 million kilometers a day, and takes 5.3 years to complete one rotation around the sun.
On the asteroid, a rich resource of the universe is preserved. In the future of mankind space travel, in-depth exploration of asteroids will play an important role and be of great significance.
By People's Daily Online
Delcam's new technology revolotionises the footwear industry
Delcam, one of the world's top suppliers of CADCAM software product development solutions for the manufacturing industry, has developed rapidly since its establishment in 1977. Also being one of the largest software companies, Delcam witnessed its business expansion in the Asia-Pacific region, particularly in China in recent years.
With the launch of Delcam Crispin OrthoScan, a 3D laser foot scanner, many people, especially those who need orthopaedic repair and refurbishments have benefited a lot from this customized service. OrthoScan scans the foot, ankle and lower leg using the I-Ware USB 3D laser scanner, and provides an STL template of the scanned foot, then to import into OrthoLast, which imports the scanned foot data in STL format.
OrthoLast imports the scanned foot STL, template, then modifies the shape from an existing last into a new customer last, in relation to the scanned foot. It exports the new last for milling and transfers the last data to OrthoStyle and/or OrthoDesign that builds on the functionality of OrthoStyle to provide a comprehensive 3D footwear design system.
The advanced technique collects accurate information and provides a template of each foot, then the data will be used to help create customer's last, and sometimes, more economically, the insoles.
"I have been wearing these insoles since last summer, proximately one year now. As a distance runner, I run a hundred miles every week, so I am in pain in my knees and hips because I am getting older, " said Stuart Stokes, a British steeplechaser who won the 4th place in the last Commonwealth Games.
"Since I put these insoles in, it comforts my body and my pain has gone. So because the pain in my knees and hips has gone, it allows me to train harder, mentally as well. Every day when you are in pain, it is very different," added Stokes.
"Now with the insole, I can train longer. I hope this summer it will increase my performance and hope to have better results in the Beijing Olympics. I have quite a few of personal performances. Sometime winning races means a lot to you; other time you don't win the race, and you know you did you best. That can be equally as good. " noted the steeplechaser.
By People's Daily Online
With the launch of Delcam Crispin OrthoScan, a 3D laser foot scanner, many people, especially those who need orthopaedic repair and refurbishments have benefited a lot from this customized service. OrthoScan scans the foot, ankle and lower leg using the I-Ware USB 3D laser scanner, and provides an STL template of the scanned foot, then to import into OrthoLast, which imports the scanned foot data in STL format.
OrthoLast imports the scanned foot STL, template, then modifies the shape from an existing last into a new customer last, in relation to the scanned foot. It exports the new last for milling and transfers the last data to OrthoStyle and/or OrthoDesign that builds on the functionality of OrthoStyle to provide a comprehensive 3D footwear design system.
The advanced technique collects accurate information and provides a template of each foot, then the data will be used to help create customer's last, and sometimes, more economically, the insoles.
"I have been wearing these insoles since last summer, proximately one year now. As a distance runner, I run a hundred miles every week, so I am in pain in my knees and hips because I am getting older, " said Stuart Stokes, a British steeplechaser who won the 4th place in the last Commonwealth Games.
"Since I put these insoles in, it comforts my body and my pain has gone. So because the pain in my knees and hips has gone, it allows me to train harder, mentally as well. Every day when you are in pain, it is very different," added Stokes.
"Now with the insole, I can train longer. I hope this summer it will increase my performance and hope to have better results in the Beijing Olympics. I have quite a few of personal performances. Sometime winning races means a lot to you; other time you don't win the race, and you know you did you best. That can be equally as good. " noted the steeplechaser.
By People's Daily Online
Paralympic ticket sales going well:Official
Tickets for the opening and closing ceremonies of the 2008 Paralympics and associated sports events are selling well, a senior official from the Games' organizing committee said over the weekend.
"So far, more than 480,000 tickets for have been sold, 32,000 of them to disabled spectators, their families and friends," Tang Xiaoquan, executive vice-president of BOCOG and vice-president of the China Disabled Persons' Federation told a press meeting on Sunday in Beijing.
Of the total 1.66 million tickets available for the Paralympics, the best seats will go to disabled spectators, Zhao Chunluan, chief of the Beijing Disabled Persons Federation, said.
The price of tickets has been kept low - from 30 yuan to 80 yuan, and people can book through the official website, www.tickets.beijing2008.cn, until Sept 14, he said.
All of the tickets will be sold on a first-come-first-served-basis, he said.
In a move to let more people enjoy the Games, 20 percent of the tickets have been set aside free of charge for the Paralympic Education Program.
Dubbed "Sky, Earth and Human Beings", the logos of the Beijing Paralympics yesterday begin to replace those of the Olympic Games.
"All departments concerned are ready for the transformation work, and we are confident of staging another successful Games," director of BOCOG's Paralympics department, Zhang Qiuping, said yesterday.
The Games, the 13th, will be held in Beijing from Sept 6 to 17.
In addition to the Paralympic venues, buildings across the entire city have been fitted with easy-access installations, and some at historical sites such as the Great Wall and Forbidden City, Tang said.
Source: China Daily
"So far, more than 480,000 tickets for have been sold, 32,000 of them to disabled spectators, their families and friends," Tang Xiaoquan, executive vice-president of BOCOG and vice-president of the China Disabled Persons' Federation told a press meeting on Sunday in Beijing.
Of the total 1.66 million tickets available for the Paralympics, the best seats will go to disabled spectators, Zhao Chunluan, chief of the Beijing Disabled Persons Federation, said.
The price of tickets has been kept low - from 30 yuan to 80 yuan, and people can book through the official website, www.tickets.beijing2008.cn, until Sept 14, he said.
All of the tickets will be sold on a first-come-first-served-basis, he said.
In a move to let more people enjoy the Games, 20 percent of the tickets have been set aside free of charge for the Paralympic Education Program.
Dubbed "Sky, Earth and Human Beings", the logos of the Beijing Paralympics yesterday begin to replace those of the Olympic Games.
"All departments concerned are ready for the transformation work, and we are confident of staging another successful Games," director of BOCOG's Paralympics department, Zhang Qiuping, said yesterday.
The Games, the 13th, will be held in Beijing from Sept 6 to 17.
In addition to the Paralympic venues, buildings across the entire city have been fitted with easy-access installations, and some at historical sites such as the Great Wall and Forbidden City, Tang said.
Source: China Daily
Visa: Commercial spending in Asia Pacific up 13% to $18.9 trln last year
Annual commercial spending in Asia Pacific grew 13 percent from the previous year to 18.9 trillion U.S. dollars in 2007, according to data released Tuesday by Visa.
The Commercial Consumption Expenditure index also showed that global annual commercial spending grew 12.2 percent to an estimated 77.3 trillion U.S. dollars last year.
The Visa's index is a financial metric that provides standardized tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending.
Twenty-one economies from countries and regions in the Asia Pacific were measured as part of the index with 16 of those outpacing the average annual growth increase.
The top five Asia Pacific economies in size of total business and government spend were Japan with 5.2 trillion U.S. dollars, China with 4.9 trillion U.S. dollars, India with 2.3 trillion U.S dollars, South Korea with 2 trillion U.S. dollars and Australia with 1.2 trillion U.S. dollars.
The fastest growing Asia Pacific economies in size of total business and government spend were Myanmar, Hong Kong, Singapore, India and the Philippines, said Visa.
Source: Xinhua
The Commercial Consumption Expenditure index also showed that global annual commercial spending grew 12.2 percent to an estimated 77.3 trillion U.S. dollars last year.
The Visa's index is a financial metric that provides standardized tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending.
Twenty-one economies from countries and regions in the Asia Pacific were measured as part of the index with 16 of those outpacing the average annual growth increase.
The top five Asia Pacific economies in size of total business and government spend were Japan with 5.2 trillion U.S. dollars, China with 4.9 trillion U.S. dollars, India with 2.3 trillion U.S dollars, South Korea with 2 trillion U.S. dollars and Australia with 1.2 trillion U.S. dollars.
The fastest growing Asia Pacific economies in size of total business and government spend were Myanmar, Hong Kong, Singapore, India and the Philippines, said Visa.
Source: Xinhua
Ministers: Outlook for ASEAN trade in 2008 "promising"
Despite the global economy is slowdown, the outlook for the Southeast Asia's trade in 2008 is "promising", said trade ministers from the region on Tuesday.
"The outlook for 2008 is promising as total ASEAN trade in the first quarter of 2008 posted an annual growth of 31.8 percent," said a statement by the annual ASEAN economic ministers' meeting on Tuesday.
In view of the anticipated slowdown in global demand, the potential build-up in inflationary pressures, higher global oil prices and growing global imbalances, the ministers also emphasized the need to continue efforts to deepen and broaden economic integration of ASEAN, a market of over 550 million people and total trade of about 1.6 trillion U.S. dollars.
At the week-long Singapore meeting opening on Tuesday, trade ministers from 10 member states tracked efforts to integrate the regional bloc's Economic Community by 2015, which will facilitate movement of goods, services and people.
Successful integration will also enable ASEAN to remain attraction. Total Foreign Direct Investment inflows to ASEAN exceeded 60 billion U.S. dollars in 2007.
The Ministers noted that the increased investment flows last year indicate that ASEAN remained a favored destination for investments.
Investment from six dialogue partners last year was led by the European Union with 14.3 billion U.S. dollars, following by Japan, the United States, Republic of Korea, China and Australia.
China invested 1 billion U.S. dollars in ASEAN last year.
The 10-member meeting Tuesday also announced conclusion of the ASEAN Comprehensive Investment Agreement. Investors from ASEAN and those based in the region can expect to benefit from the new pact.
During the next few days, ASEAN will continue to negotiate free trade agreements with its dialogue partners such as Australia, New Zealand, China, India, South Korea and EU.
"The ministers noted the finalization of the modality for tariff reduction and/or elimination of the ASEAN-India FTA Trade in Goods Agreement," said the statement released Tuesday.
ASEAN is expected to seal FTA with India, Australia and New Zealand this week.
Source: Xinhua
"The outlook for 2008 is promising as total ASEAN trade in the first quarter of 2008 posted an annual growth of 31.8 percent," said a statement by the annual ASEAN economic ministers' meeting on Tuesday.
In view of the anticipated slowdown in global demand, the potential build-up in inflationary pressures, higher global oil prices and growing global imbalances, the ministers also emphasized the need to continue efforts to deepen and broaden economic integration of ASEAN, a market of over 550 million people and total trade of about 1.6 trillion U.S. dollars.
At the week-long Singapore meeting opening on Tuesday, trade ministers from 10 member states tracked efforts to integrate the regional bloc's Economic Community by 2015, which will facilitate movement of goods, services and people.
Successful integration will also enable ASEAN to remain attraction. Total Foreign Direct Investment inflows to ASEAN exceeded 60 billion U.S. dollars in 2007.
The Ministers noted that the increased investment flows last year indicate that ASEAN remained a favored destination for investments.
Investment from six dialogue partners last year was led by the European Union with 14.3 billion U.S. dollars, following by Japan, the United States, Republic of Korea, China and Australia.
China invested 1 billion U.S. dollars in ASEAN last year.
The 10-member meeting Tuesday also announced conclusion of the ASEAN Comprehensive Investment Agreement. Investors from ASEAN and those based in the region can expect to benefit from the new pact.
During the next few days, ASEAN will continue to negotiate free trade agreements with its dialogue partners such as Australia, New Zealand, China, India, South Korea and EU.
"The ministers noted the finalization of the modality for tariff reduction and/or elimination of the ASEAN-India FTA Trade in Goods Agreement," said the statement released Tuesday.
ASEAN is expected to seal FTA with India, Australia and New Zealand this week.
Source: Xinhua
Daily sales on Beijing's market up 17% during Olympics
Sales of 193 sample enterprises in Beijing averaged 190 million yuan per day during the Olympics, up 17 percent from the same period last year, said Beijing Municipal Bureau of Commerce on Tuesday.
The sample enterprises included stores with a distinctive "Chinese flavor" such as those in the Silk Street and famous traditional restaurants like Quanjude, known for roast ducks.
From Aug. 1 to 24, nearly one million people visited the five-floor Silk Street mall in eastern Beijing, pushing its sales to 383 million yuan , eight times as much as that in the same period last year.
Tailored clothes, silk by the roll, jewelries and chinaware were most popular among customers, of which foreigners accounted for 80 percent including state heads and government officials from 24 countries and world famous athletes.
For example, the 14-time Olympic gold medalist Michael Phelps, pole vault world record keeper Isinbaeva, NBA star Manu Ginobili and the Argentine soccer team all went shopping at Silk Street.
Visitors from home and abroad poured into old restaurants such as Quanjude and Bianyifang to taste the special-flavored duck.
Quanjude restaurant chains received visitors totaling more than previous records set during Golden Week holidays and Spring Festivals. On one night, people lined up outside the Quanjude restaurant at Hepingmen amounted to 400.
Another chain restaurant Bianyifang sold more than 580 roast ducks every day. Its sales were up 30 percent compared with the same period last year.
An Australian newspaper even speculated that the roast duck helped swimmer Libby Trickett win her gold medal as she could not stand a meal without it.
Source: Xinhua
The sample enterprises included stores with a distinctive "Chinese flavor" such as those in the Silk Street and famous traditional restaurants like Quanjude, known for roast ducks.
From Aug. 1 to 24, nearly one million people visited the five-floor Silk Street mall in eastern Beijing, pushing its sales to 383 million yuan , eight times as much as that in the same period last year.
Tailored clothes, silk by the roll, jewelries and chinaware were most popular among customers, of which foreigners accounted for 80 percent including state heads and government officials from 24 countries and world famous athletes.
For example, the 14-time Olympic gold medalist Michael Phelps, pole vault world record keeper Isinbaeva, NBA star Manu Ginobili and the Argentine soccer team all went shopping at Silk Street.
Visitors from home and abroad poured into old restaurants such as Quanjude and Bianyifang to taste the special-flavored duck.
Quanjude restaurant chains received visitors totaling more than previous records set during Golden Week holidays and Spring Festivals. On one night, people lined up outside the Quanjude restaurant at Hepingmen amounted to 400.
Another chain restaurant Bianyifang sold more than 580 roast ducks every day. Its sales were up 30 percent compared with the same period last year.
An Australian newspaper even speculated that the roast duck helped swimmer Libby Trickett win her gold medal as she could not stand a meal without it.
Source: Xinhua
China Minsheng Banking first-half profit more than doubles
China Minsheng Banking Corp. Ltd. on Tuesday announced first-half net profits up by 114.29 percent over the same period last year on strong commission charges and fee income.
The lender said in its half-year report net profit was 6.046 billion yuan , or 0.32 yuan per share.
Its commission charges and fees income surged to 3.072 billion yuan, representing an increase of 211.88 percent over the same period last year, which it said contributed the most to a hefty profit.
The business income stood at 17.67 billion yuan, up 6.38 billion yuan or 56.52 percent.
According to the report, Minsheng Banking also profited from expanding assets. Total assets increased by 15.48 percent, or 142.4 billion yuan, from the end of last year, to top 1 trillion yuan in the first half.
Outstanding loans stood at 612.05 billion yuan, up 10.29 percent from the end of last year, while outstanding deposits increased by 13.29 percent to 760.4 billion yuan.
Non-performing loans in the first half reached 7.39 billion yuan, and the non-performing loan ratio was 1.21 percent, down 0.01 percentage point from the end of last year.
The capital adequacy ratio was 9.21 percent at the end of June, down from 10.73 percent from the end of 2007.
The bank also said the value of debt it held involving U.S. mortgage groups Fannie Mae and Freddie Mac totaled 226.95 million U.S. dollars by the end of June.
The Shanghai-listed bank saw its shares rose 1.36 percent to close at 5.79 yuan on Tuesday.
Source: Xinhua
The lender said in its half-year report net profit was 6.046 billion yuan , or 0.32 yuan per share.
Its commission charges and fees income surged to 3.072 billion yuan, representing an increase of 211.88 percent over the same period last year, which it said contributed the most to a hefty profit.
The business income stood at 17.67 billion yuan, up 6.38 billion yuan or 56.52 percent.
According to the report, Minsheng Banking also profited from expanding assets. Total assets increased by 15.48 percent, or 142.4 billion yuan, from the end of last year, to top 1 trillion yuan in the first half.
Outstanding loans stood at 612.05 billion yuan, up 10.29 percent from the end of last year, while outstanding deposits increased by 13.29 percent to 760.4 billion yuan.
Non-performing loans in the first half reached 7.39 billion yuan, and the non-performing loan ratio was 1.21 percent, down 0.01 percentage point from the end of last year.
The capital adequacy ratio was 9.21 percent at the end of June, down from 10.73 percent from the end of 2007.
The bank also said the value of debt it held involving U.S. mortgage groups Fannie Mae and Freddie Mac totaled 226.95 million U.S. dollars by the end of June.
The Shanghai-listed bank saw its shares rose 1.36 percent to close at 5.79 yuan on Tuesday.
Source: Xinhua
Nine treasures contributed by Beijing Olympics
Grand fireworks and spectacular choreography brought the Beijing Olympic Games to a close on Sunday; and China by then had fulfilled its commitments to the world, as the Games was lauded as one of the most successful in Olympic history. Guangzhou Daily published an article on August 25, stating the Games have left nine treasures to the world.
1. A more mature public in sports
The Olympics has awarded something more valuable than the 51 gold medals it seized at the Games. The article pointed that Team China has created the best record ever since its attendance at the Olympics; but more importantly, Chinese spectators matured and became more rational by hosting the Games: the Olympics serves as a 'growing-up ceremony' for Chinese spectators, as was described in the article. This can partially reflects the fact that the Chinese nation has built confidence; and as result, become more tolerant. At the Games, they cheered for every wonderful performance, but never said boo to a poor show. They clamored after the winners and encouraged the losers.
2. Awareness of environmental protection enhanced
In terms of air quality, Beijing has materialized its promise to guarantee a green Olympics, as the air quality index since August has all met the standards. More than 50 percent have met first grade standards, according to the Beijing Municipal Administration of Environmental protection.
In the meantime, national awareness of environmental protection has been greatly enhanced by hosting the Games. Calls for "energy-conservation and emissions reduction" are well-known to every ordinary citizen in Beijing; and are shining on billboards across China. The Chinese people have built up an unprecedented awareness for environmental protection; and a strong desire to improve environmental standards.
3. A driving force for the economy
The successful bid for the Olympics in 2001 adds Olympic factors to China's sustained economic growth, propelling the increase of infrastructural investment in the host city and other supporting cities and spurring the development of some Olympics-related fields and industries. In 2001, China's annual GDP was less than 11 trillion yuan in total; while in the first half of 2008, the total volume of its annual GDP already exceeded 13 trillion yuan.
Experts estimated that direct revenue from the Beijing Olympics totals approximately U.S. $2 billion. If Olympic-related industries are included, the total economic influence spurred by the Olympics will reach U.S. $71.7 billion. China's economy, since its opening three decades ago, has been growing into its full size and vitality.
4. A showcase for Chinese culture
When Beijing applied for the Olympic bid in 2001, it vowed that China would like to exhibit its splendid 5,000-year history to the world if Beijing were granted the 16 days to showcase.
Since April this year, China has been launching the "2008 Beijing Olympic Cultural Activities" to display China's wide arrays of culture and promote exchanges between different cultures. The cultural activities will last until September; and so far, there have been 260 performances and 160 art exhibitions presented. More than 2,000 artists from over 80 countries have savored Olympic moments on the commonly built cultural stage.
5. A diplomatic feast
Eighty-six heads of State and international dignitaries attended the opening ceremony, which also chalked up a record in Olympic history. U.S. President George W. Bush also made history as the first U.S president to show up to an Olympic opening ceremony. Ordinary Beijing citizens thought it was just their luck to see so many of the world's VIPs coming and going within a fortnight.
Half of the world leaders gathered in Beijing and enjoyed a diplomatic feast on the sidelines of their attendance at the Olympics. The Games has been used by these policy makers as a golden opportunity to extend goodwill to one another.
6. Media gala
The Beijing Olympics has welcomed over 20,000 licensed media staff and more than 5,000 unlicensed journalists, and 67 main stream media across the world placed the Beijing Games in the forefront of their coverage. The Main Press Center and the international Broadcasting Center are respectively the largest media services centers of their kind in Olympic history. The coverage of the Beijing Games has gained TV ratings of 21.5 percent, second only to the coverage of the Atlanta Olympics. Additionally, China's openness and transparency in information services were also widely touted for the duration of the Games.
7. Public security tightened
An 110,000-strong public security force composed of policemen, armed police forces and paramilitary troopers, along with volunteers, worked day in and day out in a bid to turn out a safe and successful Olympics.
Security has always been a top priority internationally, for hosting the Olympics; and China has guaranteed a safe Olympics in this volatile international situation by initiating a security command system at three levels—State, Olympic sites and venues.
8. A new look in city construction
Since 2001, during the years of preparation for the Olympics, Beijing has input 280 billion yuan into the general layout of the city, including investment in infrastructure, energy, traffic and environmental improvement. So far, the subway grid linking the entire city has been completed with a total length running 150 kilometers. The Beijing's facelift has also come as a benefit to ordinary citizens.
9. An army of volunteers
More than 1.7 million people served as volunteers, serving 2,940 posts at the Games, which was also a record in Olympic history. Through the Games, more and more Chinese in different age groups began to realize the importance of volunteer jobs and offered to join the army of volunteers. This could effectively boost China's volunteer cause, which is still in its infant stage.
By People's Daily Online
1. A more mature public in sports
The Olympics has awarded something more valuable than the 51 gold medals it seized at the Games. The article pointed that Team China has created the best record ever since its attendance at the Olympics; but more importantly, Chinese spectators matured and became more rational by hosting the Games: the Olympics serves as a 'growing-up ceremony' for Chinese spectators, as was described in the article. This can partially reflects the fact that the Chinese nation has built confidence; and as result, become more tolerant. At the Games, they cheered for every wonderful performance, but never said boo to a poor show. They clamored after the winners and encouraged the losers.
2. Awareness of environmental protection enhanced
In terms of air quality, Beijing has materialized its promise to guarantee a green Olympics, as the air quality index since August has all met the standards. More than 50 percent have met first grade standards, according to the Beijing Municipal Administration of Environmental protection.
In the meantime, national awareness of environmental protection has been greatly enhanced by hosting the Games. Calls for "energy-conservation and emissions reduction" are well-known to every ordinary citizen in Beijing; and are shining on billboards across China. The Chinese people have built up an unprecedented awareness for environmental protection; and a strong desire to improve environmental standards.
3. A driving force for the economy
The successful bid for the Olympics in 2001 adds Olympic factors to China's sustained economic growth, propelling the increase of infrastructural investment in the host city and other supporting cities and spurring the development of some Olympics-related fields and industries. In 2001, China's annual GDP was less than 11 trillion yuan in total; while in the first half of 2008, the total volume of its annual GDP already exceeded 13 trillion yuan.
Experts estimated that direct revenue from the Beijing Olympics totals approximately U.S. $2 billion. If Olympic-related industries are included, the total economic influence spurred by the Olympics will reach U.S. $71.7 billion. China's economy, since its opening three decades ago, has been growing into its full size and vitality.
4. A showcase for Chinese culture
When Beijing applied for the Olympic bid in 2001, it vowed that China would like to exhibit its splendid 5,000-year history to the world if Beijing were granted the 16 days to showcase.
Since April this year, China has been launching the "2008 Beijing Olympic Cultural Activities" to display China's wide arrays of culture and promote exchanges between different cultures. The cultural activities will last until September; and so far, there have been 260 performances and 160 art exhibitions presented. More than 2,000 artists from over 80 countries have savored Olympic moments on the commonly built cultural stage.
5. A diplomatic feast
Eighty-six heads of State and international dignitaries attended the opening ceremony, which also chalked up a record in Olympic history. U.S. President George W. Bush also made history as the first U.S president to show up to an Olympic opening ceremony. Ordinary Beijing citizens thought it was just their luck to see so many of the world's VIPs coming and going within a fortnight.
Half of the world leaders gathered in Beijing and enjoyed a diplomatic feast on the sidelines of their attendance at the Olympics. The Games has been used by these policy makers as a golden opportunity to extend goodwill to one another.
6. Media gala
The Beijing Olympics has welcomed over 20,000 licensed media staff and more than 5,000 unlicensed journalists, and 67 main stream media across the world placed the Beijing Games in the forefront of their coverage. The Main Press Center and the international Broadcasting Center are respectively the largest media services centers of their kind in Olympic history. The coverage of the Beijing Games has gained TV ratings of 21.5 percent, second only to the coverage of the Atlanta Olympics. Additionally, China's openness and transparency in information services were also widely touted for the duration of the Games.
7. Public security tightened
An 110,000-strong public security force composed of policemen, armed police forces and paramilitary troopers, along with volunteers, worked day in and day out in a bid to turn out a safe and successful Olympics.
Security has always been a top priority internationally, for hosting the Olympics; and China has guaranteed a safe Olympics in this volatile international situation by initiating a security command system at three levels—State, Olympic sites and venues.
8. A new look in city construction
Since 2001, during the years of preparation for the Olympics, Beijing has input 280 billion yuan into the general layout of the city, including investment in infrastructure, energy, traffic and environmental improvement. So far, the subway grid linking the entire city has been completed with a total length running 150 kilometers. The Beijing's facelift has also come as a benefit to ordinary citizens.
9. An army of volunteers
More than 1.7 million people served as volunteers, serving 2,940 posts at the Games, which was also a record in Olympic history. Through the Games, more and more Chinese in different age groups began to realize the importance of volunteer jobs and offered to join the army of volunteers. This could effectively boost China's volunteer cause, which is still in its infant stage.
By People's Daily Online
Beijing Olympics lauded at home and abroad
The curtain of the Beijing Olympics dropped on August 24 with a closing ceremony featured with carnival festiveness; however, it seems that the atmosphere of gathering and celebration still goes on in people's hearts. The readers of People's Daily Online have left many messages expressing their admiration for the organizers and share their views on the whole games.
Most of them speak highly of the games by using such words as "tremendously successful", "memorable" and"flawless."The opening and closing ceremonies have also received wide praise for being "exceptional", "most enchanting", "unforgettable", "unique", "fabulous",and "fantastic."
Capture image from message board
The following are some of the messages:
"Wo Ai Beijing!!! Such a great event held by an exceptional host. Well done to all in Beijing and a special thanks to the volunteers. The Chinese government did very well to keep the games safe for all. By Sudesh"
"It was the most enchanting show I've ever seen. Unlikely some country will ever be able to measure up! My deepest respect for all of you & sincere congratulations for these amazing, unique & breathtaking OG. Breathtaking! by Griet"
"With great respect for the Chinese people & with much interest I have watched closely these unforgettable and unique Olympic Games. I've enjoyed the amazing and breathtaking opening & closing ceremony in Belgium & am aware that never I'll be watching something that will be able to compete with the grandeur your country has realized & achieved. The true competence and talent of your country and it's leaders is admirable, remarquable and a role model for the whole world. Moreover, the idea my daughter was present in your country as a student fills me with proud. I could never more understand her deepest sympathy for the PR of China and its people. Please accept my feelings of gratitude and respect. You were all amazing! Congratulations."
"All the Americans I know think that China did a great job in the Olympics, and that the games and ceremonies were a pleasure to watch and were a triumph of China's creativity.
Jim Richards, Randolph, Mass. USA"
"Congratulations to all the people of China on a tremendously successful Olympic Games. The opening and closing ceremonies were beyond description and magnificent on a scale never seen before. It was also very nice to get to see some of your beautiful country and your wonderful people. I hope the spirit of the games will continue to grow and foster a deeper understanding amongst all the peoples of this world. We really are not very different from each other, and most of us want peace, harmony and understanding.
Thank you again for a wonderful two weeks.
Jerry C. in Florida USA"
By People's Daily Online
Most of them speak highly of the games by using such words as "tremendously successful", "memorable" and"flawless."The opening and closing ceremonies have also received wide praise for being "exceptional", "most enchanting", "unforgettable", "unique", "fabulous",and "fantastic."
Capture image from message board
The following are some of the messages:
"Wo Ai Beijing!!! Such a great event held by an exceptional host. Well done to all in Beijing and a special thanks to the volunteers. The Chinese government did very well to keep the games safe for all. By Sudesh"
"It was the most enchanting show I've ever seen. Unlikely some country will ever be able to measure up! My deepest respect for all of you & sincere congratulations for these amazing, unique & breathtaking OG. Breathtaking! by Griet"
"With great respect for the Chinese people & with much interest I have watched closely these unforgettable and unique Olympic Games. I've enjoyed the amazing and breathtaking opening & closing ceremony in Belgium & am aware that never I'll be watching something that will be able to compete with the grandeur your country has realized & achieved. The true competence and talent of your country and it's leaders is admirable, remarquable and a role model for the whole world. Moreover, the idea my daughter was present in your country as a student fills me with proud. I could never more understand her deepest sympathy for the PR of China and its people. Please accept my feelings of gratitude and respect. You were all amazing! Congratulations."
"All the Americans I know think that China did a great job in the Olympics, and that the games and ceremonies were a pleasure to watch and were a triumph of China's creativity.
Jim Richards, Randolph, Mass. USA"
"Congratulations to all the people of China on a tremendously successful Olympic Games. The opening and closing ceremonies were beyond description and magnificent on a scale never seen before. It was also very nice to get to see some of your beautiful country and your wonderful people. I hope the spirit of the games will continue to grow and foster a deeper understanding amongst all the peoples of this world. We really are not very different from each other, and most of us want peace, harmony and understanding.
Thank you again for a wonderful two weeks.
Jerry C. in Florida USA"
By People's Daily Online
Beijing sets off on a new journey
Beijing's 2008 summer Olympics came to a spectacular close. The landmark, "Bird's Nest" National Stadium, like a very thick book, has closed with 16 glorious days of splendid Games. In this book, China has erected a performing or theatrical stage for human glory and dream with its immense zeal and greatest effort...
The Games will be remembered with the splendid opening and closing ceremonies, undulating processes of Games, the widest and most extensive participation and acute competitions. The whole globe has been amazed by breaking 38 world records and 85 Olympic records, and a record 87 nations won medals during the Games.
As far as the realm of sports is concerned, the Beijing Games would be recorded into the history of the Olympic movement with a host of vivid, unique grand ceremonies or functions.
The straight, long axis extends to the Yongdingmen Gate in the south through the magnificent Tiananmen Gate, and to the new Olympic Park in the north through the Bell and Drum Tower; it symbolizes or "caresses" the prosperity and adversity of the longstanding Chinese nation.
Marco Polo of Italy came here to witness the brilliance and glory of ancient China over seven full centuries ago, and he gave rise to the yearning of the Europeans of the Middle Ages to reach the "Orient paradise" at that time.
In May 1900 or the 26th year of Emperor Guangxi), the Eight-power Allied Forces intruded into Beijing, the capital of the imperial Qing dynasty then and smashed the vanity or ostentation of China's "heavenly kingdom".
Only those people, who are familiar with China's modern history, can tell how eager and longing the 1.3 billion Chinese people was to host such a grand Olympic gala party and they can understand why the people in China endorse and support the Beijing Games, which did not need at all to arouse the people for backing it.
China has done all it could for the Games to take its due share of duty or responsibility and let the rest of the world know that the present China is an important participant in globalization, apart from "realizing its long-cherished dream". In his rare interview on August 4 with a selected group of foreign reporters, President Hu Jintao conveyed to them the "unswerving will" of his country.
Chinese delegation achieved a historic breakthrough with its haul of 100 medals, and this indeed facilitates us fulfilling the solemn commitment China had made to the world and increasing our sense of patriotism. When the bustling Bird's Nest stadium turns quiet gradually, and when people turn the glory of Games into their reminiscence, how we "make an inventory" of the income, and how we turn the zeal and excitement that originated from the Olympics into a motive force for the march forward?
The 16 days of splendid Games has spurred our ancient nation even to go further ahead with its new dream, since the current agitating or exciting world has entered into the "Beijing Time" and the Olympics has enabled China to stand on the central stage of the world.
With 1.3 billion Chinese having undergone an in-depth education regarding the Olympics, and more than 400 million Chinese kids and youths having been enlightened, the Olympics is benefited and its concepts have spread on the most extensive scale on earth and the Olympic Games originating from a nation by the Mediterranean Sea has been merged with a spring-fed stream with hallmarks of the East.
China has shortened or narrowed its distance with the outside world due to the hosting of the Games and, with seven full years of preparations, the concept of the Green Olympic, H-tech Olympic and the people's Olympic has detonated the unique Chinese mode. ,
Moreover, with more than 100 foreign dignitaries, more than 10,000 athletes from 204 countries, and several hundred thousand tourists coming worldwide to Beijing and a global audience of 4.5 billion worldwide, the Beijing Olympics has conducted a multi-channel cultural exchange on a very rare, unprecedented way.
As both China and the world at large are benefited and the Olympics benefited itself, the Beijing Olympics Games has been turned into the most crucial spiritual legacy.
Meanwhile, International Olympic Committee President Jacques Rogge said the believed that historians would turn Beijing's 2008 Games into an important milestone in China's major changes.
People will never forget Chinese sprinter Liu Changchun appeared holding high China's national flag in the Olympic arena and entered the 100m and 200m run in Los Angeles as the only Chinese athlete to compete in the 10th Olympic Games in 1932.
People will never forget the Chinese sports delegation, comprising 250 athletes, none of whom had taken part in the Olympics before, made its debut at the 1984 Los Angeles summer Games, and they drew thunderous, deafening cheers from the audience when they entered the arena.
And people will never forget that after Chinese applicants failed with its first bid for the 2000 Games failed narrowly by two votes in 1993, they were greeted by a 1,500 well-wishers at the Beijing Capital Airport with a streamer reading"forever Beijing and not distant Olympics".
"Without Deng Xiaoping, there would be no open-up policy," said Australian Prime Minister Kevin Rudd, and without the open-up policy. there would be no Olympic Games held in China. In another development, more than 20,000 foreign journalists have come to cover the Games, and the number of reporters coming to cover the Games also set a record with the Olympic Games.
Beijing's Olympics was held at an appropriate time after three decades of reform and opening to the outside world. The economic strength accumulated in the past three decades, China's global outlook and the country's readiness and resolve to integrate into the world economy constitute the most vital conditions for holding of the Games.
What particularly intriguing is that 65 percent of people in China are most interested in "the grace or outlook of Chinese people and the global appraisal of China." So, let us value the gift left by the Games 鈥�an even more open China, which not only displays more self-confidence and composure and would in turn get access to more support and opportunities.
The misery or an abyss of suffering in China's history has been turned into the receding figure of the past generations and "my participation, my contribution and my pleasure" have melted away the hardships and vicissitudes throughout the ages.
Since the opening of the Games, Olympic-themed haircut has become popular among Chinese kids, and Olympic badges are seen on at lots of school bags they carry. More than one million volunteers working in varied services inside and outside sports arenas have been dubbed as the "post-80s diplomats" of the Bird's Nest National Stadium, who have given expression to "Chinese feelings". UN Secretary General Ban Ki-moon has awarded the Beijing Volunteer Association with the UN Distinctive Services Organizing Award.
In Olympic arenas, China won 100 medals and led with 50 gold. This is indeed something worth cheers and acclamation. What lets us be more joyous and elated is that our audience have focused, transcending the listing of the Olympic medal tallies, more onto the integrity and sentiments of athletes, such as shown by German weighlifter Matthias Steiner who held up a picture of his wife Susann, who had died in a car accident last year, and on Russia-Georgia hug, in which Russia's Ketalia Paderina and Georgia's Nino Salukvadze embraced each other after winning Olympic silver and bronze medals, respectively, in the women's 10-meter air pistol final despite ongoing conflicts between their countries 鈥�br />
People in China are convinced that the connotation of a powerful nation need not to base itself on gold medals and a nation imbued with the brilliance of the human nature is still more charismatic. Hence, "the One World, One Dream" has become most precious and most valuable.
Hosting an ace Olympic Games does not mean to say that China has succeeds in realizing its century-old dream to make itself strong. How China will advance in the "post-Olympic era? And the answer will have a bearing on the future of the 1.3 billion people in the country as well as on the future of the world at large.
Beijing 2008 Olympics represents a crucial stop in China's modernization process and, at this historical moment, we should regard our achievements more soberly and look forward to the future more rationally and reasonably. At present, we should likewise think of how to go on merging the Green Olympics, H-tech Olympics and people's Olympics with China's vast territories.
"Beijing will stay clean," "Chinese media will not close the door after the Beijing Olympic Games" and "good changes wrought by the Games will sustain," etc. and the world has heard such promises.
The Beijing Olympics is, beyond any doubt, is an historic event in terms of two biding attempts, seven years of intense preparations and the hosting of the Games itself, and it has erected a milestone in the course of the Chinese nation's revitalization. With the gift of the Olympics after three decade reform and opening-up, China is now situated at a new historical height.
In 1908, the "Tianjin Youth Journal" for the first time in Chinese history queried: When would China sent an athlete to compete in the Olympic Games; when would China send a team to participate in the Games, and When China would host the Olympic Games on its own? The dream or aspiration contained in these three questions has echoed on and one for a whole century, and China has worked hard for 100 years to their accomplishment.
The world thanks China for it has "hosted a high-standard Olympic Games with distinctive characteristics" and China thanks all the more to the world for it has availed it of such a rare, valuable opportunity to realized its century-old dream and to set out for a new voyage to materialize another new dream. Let us cherish high hope that Beijing is again at another starting point of a new journey.
By People's Daily Online
The Games will be remembered with the splendid opening and closing ceremonies, undulating processes of Games, the widest and most extensive participation and acute competitions. The whole globe has been amazed by breaking 38 world records and 85 Olympic records, and a record 87 nations won medals during the Games.
As far as the realm of sports is concerned, the Beijing Games would be recorded into the history of the Olympic movement with a host of vivid, unique grand ceremonies or functions.
The straight, long axis extends to the Yongdingmen Gate in the south through the magnificent Tiananmen Gate, and to the new Olympic Park in the north through the Bell and Drum Tower; it symbolizes or "caresses" the prosperity and adversity of the longstanding Chinese nation.
Marco Polo of Italy came here to witness the brilliance and glory of ancient China over seven full centuries ago, and he gave rise to the yearning of the Europeans of the Middle Ages to reach the "Orient paradise" at that time.
In May 1900 or the 26th year of Emperor Guangxi), the Eight-power Allied Forces intruded into Beijing, the capital of the imperial Qing dynasty then and smashed the vanity or ostentation of China's "heavenly kingdom".
Only those people, who are familiar with China's modern history, can tell how eager and longing the 1.3 billion Chinese people was to host such a grand Olympic gala party and they can understand why the people in China endorse and support the Beijing Games, which did not need at all to arouse the people for backing it.
China has done all it could for the Games to take its due share of duty or responsibility and let the rest of the world know that the present China is an important participant in globalization, apart from "realizing its long-cherished dream". In his rare interview on August 4 with a selected group of foreign reporters, President Hu Jintao conveyed to them the "unswerving will" of his country.
Chinese delegation achieved a historic breakthrough with its haul of 100 medals, and this indeed facilitates us fulfilling the solemn commitment China had made to the world and increasing our sense of patriotism. When the bustling Bird's Nest stadium turns quiet gradually, and when people turn the glory of Games into their reminiscence, how we "make an inventory" of the income, and how we turn the zeal and excitement that originated from the Olympics into a motive force for the march forward?
The 16 days of splendid Games has spurred our ancient nation even to go further ahead with its new dream, since the current agitating or exciting world has entered into the "Beijing Time" and the Olympics has enabled China to stand on the central stage of the world.
With 1.3 billion Chinese having undergone an in-depth education regarding the Olympics, and more than 400 million Chinese kids and youths having been enlightened, the Olympics is benefited and its concepts have spread on the most extensive scale on earth and the Olympic Games originating from a nation by the Mediterranean Sea has been merged with a spring-fed stream with hallmarks of the East.
China has shortened or narrowed its distance with the outside world due to the hosting of the Games and, with seven full years of preparations, the concept of the Green Olympic, H-tech Olympic and the people's Olympic has detonated the unique Chinese mode. ,
Moreover, with more than 100 foreign dignitaries, more than 10,000 athletes from 204 countries, and several hundred thousand tourists coming worldwide to Beijing and a global audience of 4.5 billion worldwide, the Beijing Olympics has conducted a multi-channel cultural exchange on a very rare, unprecedented way.
As both China and the world at large are benefited and the Olympics benefited itself, the Beijing Olympics Games has been turned into the most crucial spiritual legacy.
Meanwhile, International Olympic Committee President Jacques Rogge said the believed that historians would turn Beijing's 2008 Games into an important milestone in China's major changes.
People will never forget Chinese sprinter Liu Changchun appeared holding high China's national flag in the Olympic arena and entered the 100m and 200m run in Los Angeles as the only Chinese athlete to compete in the 10th Olympic Games in 1932.
People will never forget the Chinese sports delegation, comprising 250 athletes, none of whom had taken part in the Olympics before, made its debut at the 1984 Los Angeles summer Games, and they drew thunderous, deafening cheers from the audience when they entered the arena.
And people will never forget that after Chinese applicants failed with its first bid for the 2000 Games failed narrowly by two votes in 1993, they were greeted by a 1,500 well-wishers at the Beijing Capital Airport with a streamer reading"forever Beijing and not distant Olympics".
"Without Deng Xiaoping, there would be no open-up policy," said Australian Prime Minister Kevin Rudd, and without the open-up policy. there would be no Olympic Games held in China. In another development, more than 20,000 foreign journalists have come to cover the Games, and the number of reporters coming to cover the Games also set a record with the Olympic Games.
Beijing's Olympics was held at an appropriate time after three decades of reform and opening to the outside world. The economic strength accumulated in the past three decades, China's global outlook and the country's readiness and resolve to integrate into the world economy constitute the most vital conditions for holding of the Games.
What particularly intriguing is that 65 percent of people in China are most interested in "the grace or outlook of Chinese people and the global appraisal of China." So, let us value the gift left by the Games 鈥�an even more open China, which not only displays more self-confidence and composure and would in turn get access to more support and opportunities.
The misery or an abyss of suffering in China's history has been turned into the receding figure of the past generations and "my participation, my contribution and my pleasure" have melted away the hardships and vicissitudes throughout the ages.
Since the opening of the Games, Olympic-themed haircut has become popular among Chinese kids, and Olympic badges are seen on at lots of school bags they carry. More than one million volunteers working in varied services inside and outside sports arenas have been dubbed as the "post-80s diplomats" of the Bird's Nest National Stadium, who have given expression to "Chinese feelings". UN Secretary General Ban Ki-moon has awarded the Beijing Volunteer Association with the UN Distinctive Services Organizing Award.
In Olympic arenas, China won 100 medals and led with 50 gold. This is indeed something worth cheers and acclamation. What lets us be more joyous and elated is that our audience have focused, transcending the listing of the Olympic medal tallies, more onto the integrity and sentiments of athletes, such as shown by German weighlifter Matthias Steiner who held up a picture of his wife Susann, who had died in a car accident last year, and on Russia-Georgia hug, in which Russia's Ketalia Paderina and Georgia's Nino Salukvadze embraced each other after winning Olympic silver and bronze medals, respectively, in the women's 10-meter air pistol final despite ongoing conflicts between their countries 鈥�br />
People in China are convinced that the connotation of a powerful nation need not to base itself on gold medals and a nation imbued with the brilliance of the human nature is still more charismatic. Hence, "the One World, One Dream" has become most precious and most valuable.
Hosting an ace Olympic Games does not mean to say that China has succeeds in realizing its century-old dream to make itself strong. How China will advance in the "post-Olympic era? And the answer will have a bearing on the future of the 1.3 billion people in the country as well as on the future of the world at large.
Beijing 2008 Olympics represents a crucial stop in China's modernization process and, at this historical moment, we should regard our achievements more soberly and look forward to the future more rationally and reasonably. At present, we should likewise think of how to go on merging the Green Olympics, H-tech Olympics and people's Olympics with China's vast territories.
"Beijing will stay clean," "Chinese media will not close the door after the Beijing Olympic Games" and "good changes wrought by the Games will sustain," etc. and the world has heard such promises.
The Beijing Olympics is, beyond any doubt, is an historic event in terms of two biding attempts, seven years of intense preparations and the hosting of the Games itself, and it has erected a milestone in the course of the Chinese nation's revitalization. With the gift of the Olympics after three decade reform and opening-up, China is now situated at a new historical height.
In 1908, the "Tianjin Youth Journal" for the first time in Chinese history queried: When would China sent an athlete to compete in the Olympic Games; when would China send a team to participate in the Games, and When China would host the Olympic Games on its own? The dream or aspiration contained in these three questions has echoed on and one for a whole century, and China has worked hard for 100 years to their accomplishment.
The world thanks China for it has "hosted a high-standard Olympic Games with distinctive characteristics" and China thanks all the more to the world for it has availed it of such a rare, valuable opportunity to realized its century-old dream and to set out for a new voyage to materialize another new dream. Let us cherish high hope that Beijing is again at another starting point of a new journey.
By People's Daily Online
Closing ceremony marks start of China's new height
The Beijing Olympics closing ceremony held on Sunday not only lavished tribute on an ancient nation's pride and charm, but turned out the extravaganza of a global carnival, which has further expressed China's determination to be integrated into the international community and fulfill its aspiration of ‘One World, One Dream.'
During the last 17 days, the entire world has been bathed in great ferment and jubilation. The athletes' wonderful performance at the Games, as well as episodes of their painstaking struggles in life, has deeply moved audiences all over the world as the distillation of the Olympic spirits---faster, higher and stronger. The commonly shared virtues embodied in fair competition has smashed all human prejudices. For that short period, people across the world gathered together and competed on the same arena regardless of race, gender and religion. Even the players who have just struggled out of their war-torn countries seemed to have temporarily forgotten painful memories when savoring happy Olympic moments.
The Olympics is over, but its spirit will persist. For China, hosting the Olympic Games is all the more important in its ongoing reforms and opening up. As a matter of fact, the Games have tested China in many respects: the interaction between the Government and public, China's mass intelligence and public values, and information transparency and openness. It has proven to be an unprecedented success that all the Olympics-related policies have been carried out to the letter. This partially reflects that China has basically built up sound communication between the government and the general public in which the policies made on the basis of public opinion will be fully respected and supported by the public.
For instance, the Odd-Even Car Restriction, launched in July through to the end of the Paralympics in September - by which cars are banned on alternate days depending on whether their number plates end in odd or even numbers - has already gained popular support among Beijing citizens, as the restriction has greatly eased the otherwise congested traffic and effectively cleaned the air in downtown areas. Many netizens posted their opinions online suggesting the restriction continue even after the Games. The Beijing municipal government decided to hold hearings to collect public opinion before deciding whether to put the restriction into law in the future.
It is evident that if the policy-making process is open and accumulates mass intelligence and public opinions, the policies will be regarded as democratic fruits and will be supported wholeheartedly by the general public. China's government and policymakers have been endeavoring to build up a platform on which related authorities and ordinary citizens can enjoy a heart-to-heart dialogue; and people from all walks of life can contribute their ideas to the policy-making process. The Olympic Games has further opened channels of communication between the top level and the grassroots. This is social progress achieved in hosting the Games by collecting mass intelligence and public opinions and will be cherished by the Chinese people in the days to come.
According to the Pareto Improvement Effect, from innovation more people can accumulate wealth, alleviate conflicts among different groups and create the Pareto-efficient allocation in the public interest. Therefore any efficient policy must be based on the maximum public interest.
Facing the global economic slow down and continuous prices hike in recent years, China's economy also has had great difficulty in keeping its robust growth for almost three decades. Many people cannot help but worry the so-called ‘post-Olympics effects' could adversely influence China's economic development. To combat the potential negative effects induced by the globally sluggish economy, China has moved into a new round of economic reforms which stages more policies to benefit the general public, further restricts administrative authority and market monopoly, and launches reconstruction projects in earthquake-hit areas.
‘Nothing is more valuable in the universe than human beings,' as was addressed by President Hu Jintao in his speech at Yale University. The closing ceremony of the Beijing Olympic Games will not act as the watershed for China's economy and social progress; but marks a starting point for China and the Chinese people to scale to a new height.
By People's Daily Online
During the last 17 days, the entire world has been bathed in great ferment and jubilation. The athletes' wonderful performance at the Games, as well as episodes of their painstaking struggles in life, has deeply moved audiences all over the world as the distillation of the Olympic spirits---faster, higher and stronger. The commonly shared virtues embodied in fair competition has smashed all human prejudices. For that short period, people across the world gathered together and competed on the same arena regardless of race, gender and religion. Even the players who have just struggled out of their war-torn countries seemed to have temporarily forgotten painful memories when savoring happy Olympic moments.
The Olympics is over, but its spirit will persist. For China, hosting the Olympic Games is all the more important in its ongoing reforms and opening up. As a matter of fact, the Games have tested China in many respects: the interaction between the Government and public, China's mass intelligence and public values, and information transparency and openness. It has proven to be an unprecedented success that all the Olympics-related policies have been carried out to the letter. This partially reflects that China has basically built up sound communication between the government and the general public in which the policies made on the basis of public opinion will be fully respected and supported by the public.
For instance, the Odd-Even Car Restriction, launched in July through to the end of the Paralympics in September - by which cars are banned on alternate days depending on whether their number plates end in odd or even numbers - has already gained popular support among Beijing citizens, as the restriction has greatly eased the otherwise congested traffic and effectively cleaned the air in downtown areas. Many netizens posted their opinions online suggesting the restriction continue even after the Games. The Beijing municipal government decided to hold hearings to collect public opinion before deciding whether to put the restriction into law in the future.
It is evident that if the policy-making process is open and accumulates mass intelligence and public opinions, the policies will be regarded as democratic fruits and will be supported wholeheartedly by the general public. China's government and policymakers have been endeavoring to build up a platform on which related authorities and ordinary citizens can enjoy a heart-to-heart dialogue; and people from all walks of life can contribute their ideas to the policy-making process. The Olympic Games has further opened channels of communication between the top level and the grassroots. This is social progress achieved in hosting the Games by collecting mass intelligence and public opinions and will be cherished by the Chinese people in the days to come.
According to the Pareto Improvement Effect, from innovation more people can accumulate wealth, alleviate conflicts among different groups and create the Pareto-efficient allocation in the public interest. Therefore any efficient policy must be based on the maximum public interest.
Facing the global economic slow down and continuous prices hike in recent years, China's economy also has had great difficulty in keeping its robust growth for almost three decades. Many people cannot help but worry the so-called ‘post-Olympics effects' could adversely influence China's economic development. To combat the potential negative effects induced by the globally sluggish economy, China has moved into a new round of economic reforms which stages more policies to benefit the general public, further restricts administrative authority and market monopoly, and launches reconstruction projects in earthquake-hit areas.
‘Nothing is more valuable in the universe than human beings,' as was addressed by President Hu Jintao in his speech at Yale University. The closing ceremony of the Beijing Olympic Games will not act as the watershed for China's economy and social progress; but marks a starting point for China and the Chinese people to scale to a new height.
By People's Daily Online
Kenyans prepare grand reception for Olympic medallists
A grand reception is being organized in Rift Valley towns of Eldoret and Nakuru by the families of 800m Beijing Olympic champion Wilfred Bungei and marathon champion Samuel Wanjiru.
According to local dailies on Tuesday, preparations to give the heroes a grandstand welcome has hit the highest gear in what could be the biggest reception accorded to Kenyan sportspersons in living memory.
Apart from cash awards from the government and corporate sponsors awaiting them, huge parties to toast to their honor are being lined up in their hometowns.
Their impending arrival has seen elaborate plans to fete the athletes, who delivered the biggest Olympic medal haul in Kenyan history thus far , laid out in Nairobi, Mombasa, Eldoret and Nyahururu towns.
"We are moving very fast to ensure they receive a heroes' welcome in Nairobi, where senior government officials will be on hand to welcome them back home," Sports Commissioner Gordon Oluoch told the Standard newspaper.
He added that Sports Minister Helen Sambili, who arrived in the country Monday night from Beijing, is to spearhead the welcoming activities. Oluoch said that accommodation arrangements were being made to house the athletes in the capital before they are transported to Mombasa, ease Kenya, where they are expected to hand back the flag to President Mwai Kibaki on Friday.
"The ceremony is being planned to be like no other witnessed before. The government is very proud of their achievements," Oluoch added.
Meanwhile Prime Minister Raila Odinga has congratulated Kenyan athletes for the historic medal haul at the just ended Beijing Olympics.
In a statement, Raila said he had talked to the team on phone. "I have just talked to our Kenyan team in Beijing to tell them that the entire nation stands in awe and in gratitude for their astounding feat."
"Our glorious men and women won five gold, five silver and four bronze in the most successful Olympic Games. They were victorious against the world's toughest athletes who train with virtually unlimited resources from a very early age," said the statement.
He said the achievements were particularly inspiring to the rest of the Kenyans. "We celebrate our athletes' prowess, determination and inherent abilities."
He said the country is grateful to the athletes because they have put Kenya back on the world map. He said the achievement was memorable because it had renewed unity in a way unimaginable a few months ago.
"The historic resilience that propelled Kenyans out of the crisis has seen them stun the world," he added.
"Some Kenyans might be tempted to take this great success in their stride, since we always win Olympic gold and other medals in track events. But the reality is that each medal is a result of painful and long lasting commitment and discipline. No less important, each year the competition for medals gets harder," said the statement.
Source:Xinhua
According to local dailies on Tuesday, preparations to give the heroes a grandstand welcome has hit the highest gear in what could be the biggest reception accorded to Kenyan sportspersons in living memory.
Apart from cash awards from the government and corporate sponsors awaiting them, huge parties to toast to their honor are being lined up in their hometowns.
Their impending arrival has seen elaborate plans to fete the athletes, who delivered the biggest Olympic medal haul in Kenyan history thus far , laid out in Nairobi, Mombasa, Eldoret and Nyahururu towns.
"We are moving very fast to ensure they receive a heroes' welcome in Nairobi, where senior government officials will be on hand to welcome them back home," Sports Commissioner Gordon Oluoch told the Standard newspaper.
He added that Sports Minister Helen Sambili, who arrived in the country Monday night from Beijing, is to spearhead the welcoming activities. Oluoch said that accommodation arrangements were being made to house the athletes in the capital before they are transported to Mombasa, ease Kenya, where they are expected to hand back the flag to President Mwai Kibaki on Friday.
"The ceremony is being planned to be like no other witnessed before. The government is very proud of their achievements," Oluoch added.
Meanwhile Prime Minister Raila Odinga has congratulated Kenyan athletes for the historic medal haul at the just ended Beijing Olympics.
In a statement, Raila said he had talked to the team on phone. "I have just talked to our Kenyan team in Beijing to tell them that the entire nation stands in awe and in gratitude for their astounding feat."
"Our glorious men and women won five gold, five silver and four bronze in the most successful Olympic Games. They were victorious against the world's toughest athletes who train with virtually unlimited resources from a very early age," said the statement.
He said the achievements were particularly inspiring to the rest of the Kenyans. "We celebrate our athletes' prowess, determination and inherent abilities."
He said the country is grateful to the athletes because they have put Kenya back on the world map. He said the achievement was memorable because it had renewed unity in a way unimaginable a few months ago.
"The historic resilience that propelled Kenyans out of the crisis has seen them stun the world," he added.
"Some Kenyans might be tempted to take this great success in their stride, since we always win Olympic gold and other medals in track events. But the reality is that each medal is a result of painful and long lasting commitment and discipline. No less important, each year the competition for medals gets harder," said the statement.
Source:Xinhua
Kenya to offer hefty cash rewards for Beijing Olympics medallists
Hefty cash rewards are awaiting triumphant Kenyan Olympic team that returns from Beijing late Wednesday.
A total of 22.5 million shillings will be dished out to the medalists who finished 15th overall in the medal standings of the Beijing Olympic Games, having won five gold, five silver and four bronze medals.
The performance ranked Kenya top in Africa ahead of Ethiopia, who finished 18th overall with four gold, one silver and two bronze medals.
Gold medallists, Pamela Jelimo and Brimin Kipruto have traveled to Europe for Friday's Weltklasse Golden League meeting in Zurich.
Jelimo is in the running for a share of the one million U.S. dollar Golden League jackpot alongside Croatian high jump Olympic silver medallist, Blanka Vlasic.
Both have won their specialities in the Golden League meetings in Berlin, Oslo, Rome and Paris. The Sept. 5 Brussels meet will close this season's circuit.
Nancy Jebet Lagat , Wilfred Bungei and Samuel Wanjiru Kamau are the other gold winners. Wanjiru, who traveled to Japan, is expected in sometime next week.
A total of 57 athletes traveled to Beijing under Athletics Kenya's David Okeyo, who was the chef de mission. He led about 60 officials -- 22 being technical while the rest were part of the management and government delegation.
The national team will visit Mombasa State House on Friday, where they will hand back the national flag to President Mwai Kibaki and later be rewarded for their sterling performance.
Early this month, the government announced a new award scheme to reward the medallists as did other organizations which came on board with pledges that will push the total figure even higher.
The government pledged 750,000 shillings for gold medals, 500,000 shillings for silver and 250,000 shillings for bronze medals.
That figure increased with the coming on board of Safaricom, Equity Bank, Nakumatt Supermarkets and America East Africa Corporation. Safaricom promised to match the government offer.
Commissioner of Sports, Gordon Oluoch said more corporate companies had expressed interest to join in the awarding of the athletes and the figure was likely to climb. The five gold medallists stand to earn about two million shillings each.
Silver medallists will take home at least 1.5 million shillings while bronze medallists will pocket 1.25 million shillings.
"The performance in Beijing was fantastic. We have to show our love and support of these athletes by honoring them," said Oluoch, who returned from Beijing last Friday.
"The government will be in the forefront to do so and they will give out their part. The corporate world will also be interested and I hope it will be good."
Source:Xinhua
A total of 22.5 million shillings will be dished out to the medalists who finished 15th overall in the medal standings of the Beijing Olympic Games, having won five gold, five silver and four bronze medals.
The performance ranked Kenya top in Africa ahead of Ethiopia, who finished 18th overall with four gold, one silver and two bronze medals.
Gold medallists, Pamela Jelimo and Brimin Kipruto have traveled to Europe for Friday's Weltklasse Golden League meeting in Zurich.
Jelimo is in the running for a share of the one million U.S. dollar Golden League jackpot alongside Croatian high jump Olympic silver medallist, Blanka Vlasic.
Both have won their specialities in the Golden League meetings in Berlin, Oslo, Rome and Paris. The Sept. 5 Brussels meet will close this season's circuit.
Nancy Jebet Lagat , Wilfred Bungei and Samuel Wanjiru Kamau are the other gold winners. Wanjiru, who traveled to Japan, is expected in sometime next week.
A total of 57 athletes traveled to Beijing under Athletics Kenya's David Okeyo, who was the chef de mission. He led about 60 officials -- 22 being technical while the rest were part of the management and government delegation.
The national team will visit Mombasa State House on Friday, where they will hand back the national flag to President Mwai Kibaki and later be rewarded for their sterling performance.
Early this month, the government announced a new award scheme to reward the medallists as did other organizations which came on board with pledges that will push the total figure even higher.
The government pledged 750,000 shillings for gold medals, 500,000 shillings for silver and 250,000 shillings for bronze medals.
That figure increased with the coming on board of Safaricom, Equity Bank, Nakumatt Supermarkets and America East Africa Corporation. Safaricom promised to match the government offer.
Commissioner of Sports, Gordon Oluoch said more corporate companies had expressed interest to join in the awarding of the athletes and the figure was likely to climb. The five gold medallists stand to earn about two million shillings each.
Silver medallists will take home at least 1.5 million shillings while bronze medallists will pocket 1.25 million shillings.
"The performance in Beijing was fantastic. We have to show our love and support of these athletes by honoring them," said Oluoch, who returned from Beijing last Friday.
"The government will be in the forefront to do so and they will give out their part. The corporate world will also be interested and I hope it will be good."
Source:Xinhua
China Life's first half profit falls 36%
China Life Insurance Company Co., the country's biggest insurer, said its first-half profit fell 36.16 percent, as a bearish stock market has squeezed investment return.
Its net profit was 10.77 billion yuan by June under China accountant standards, or 0.38 yuan per share, the company said in its half-year report on Monday.
During January to June period, its investment income was 34.2 billion yuan, down 0.66 percent over the same period a year earlier.
China Life's investment return was largely cut down by a recessive domestic stock market, which plummeted more than 55 percent this year. In face of the problem, the company reduced its stock and fund investments during the same period
The insurer's stock and fund investments accounted for 14.74 percent and 8.21 percent of the total investments value by the end of 2007, and the figures fell to 8.05 percent and 5.2 percent by June, respectively.
According to the report, the insurer's premium income surged by50.06 percent to hit 182.06 billion yuan in the first half, accounting for 42.8 percent of the domestic market share, up 3.1 percentage points over 2007.
Its total assets was 913.02 billion yuan, representing an increase of 2.06 percent over last year.
The company ranked the 159th among the 2008 Fortune 500 list of top global companies, according to the U.S. Fortune magazine. It ranked 192nd in 2007.
China Life A-share has so far fallen by more than 70 percent from its peak. It gained 1.98 percent on Monday to close at 25.24 yuan.
Source:Xinhua
Its net profit was 10.77 billion yuan by June under China accountant standards, or 0.38 yuan per share, the company said in its half-year report on Monday.
During January to June period, its investment income was 34.2 billion yuan, down 0.66 percent over the same period a year earlier.
China Life's investment return was largely cut down by a recessive domestic stock market, which plummeted more than 55 percent this year. In face of the problem, the company reduced its stock and fund investments during the same period
The insurer's stock and fund investments accounted for 14.74 percent and 8.21 percent of the total investments value by the end of 2007, and the figures fell to 8.05 percent and 5.2 percent by June, respectively.
According to the report, the insurer's premium income surged by50.06 percent to hit 182.06 billion yuan in the first half, accounting for 42.8 percent of the domestic market share, up 3.1 percentage points over 2007.
Its total assets was 913.02 billion yuan, representing an increase of 2.06 percent over last year.
The company ranked the 159th among the 2008 Fortune 500 list of top global companies, according to the U.S. Fortune magazine. It ranked 192nd in 2007.
China Life A-share has so far fallen by more than 70 percent from its peak. It gained 1.98 percent on Monday to close at 25.24 yuan.
Source:Xinhua
Good signs for the economy
China's urban fixed-asset investment rose 27.3 percent year-on-year in the first seven months, compared with the first half's 26.8 percent, promising to bolster the economy even as exports weaken.
The National Bureau of Statistics did not reveal the investment growth for July, but based on these figures, it is estimated that the July figure could be 29.4 percent.
China's domestic demand also grew steadily in July, increasing the possibility that the overall economy may not suffer much while trade is battered by weakening global demand, analysts said.
The annualized growth rate in retail sales rose to a record 23.3 percent in July from 23 percent in June, according to the statistics bureau. This is all the more impressive as inflation dropped to 6.3 percent in July from 7.1 percent in June.
As the country's trade surplus fell 9.6 percent year-on-year in the January-July period, the solid growth in retail sales and investment is an assurance the economy could remain resilient, analysts said.
China's economic growth slowed to 10.4 percent in the first half from almost 12 percent last year.
"With the phasing out of the Olympics influence and the slowing of household incomes, growth in domestic consumption will weaken in the second half, but it will still be the steadiest driver of the economy," Ha Jiming, chief economist at investment bank CICC, said in a research note.
Agreed Zhu Baoliang, senior economist with the State Information Center. Consumption will remain stable for the rest of the year, he said. "Retail sales generally do not change much. It is expected to remain stable, but will not increase rapidly."
Fixed-asset investment, a major pillar of the national economy, may ease in the coming months, he said. A large part of the investment is trade-related, analysts said, and will decline as export slows.
But it should not decline significantly since investment by the government and State enterprises would remain strong, said Duan Hongbin, economist with Ipencil Economic Research Institute in Shanghai. "Private enterprises may feel the need for investment capital, but State enterprises won't."
Although export and trade surplus growth could continue to fall in the coming months and the economy is set to decline, the overall economy can still manage to grow at 10 percent this year, said Zhu.
Macroeconomic regulations would hold the key to the economy, analysts said. China has adopted a tightening policy since the second half of last year to curb inflation and overheating. But the latest stance has been shifted to curbing inflation while ensuring a stable economy, a departure from the previous one.
"I'm not sure to what extent the Chinese economy would slow this year," said Hua Min, director of Fudan University's Institute of World Economy. "In the short term, it will hinge on the degree of policy tightening. If policymakers ease the tightening stance and increase liquidity in the market, the economy can be saved from drastic declines."
Following last week's rumor that the government was considering a massive stimulus plan worth up to 400 billion yuan, the Economic Observer yesterday reported policymakers are indeed considering such a plan, which includes 220 billion yuan in new investments and 150 billion in tax cuts, citing insiders.
The rumor reflects a market expectation that policymakers may intervene to save the economy as global economic prospects remain gloomy, analysts said. And, the belief that the government wishes to spur growth might in itself boost fixed-asset investment in the coming months, said Sherman Chan at Moody's Economy.com in a research note.
"As the authorities appear to have now shifted their top priority from curbing inflation to fuelling economic growth, investors keen to enter the Chinese market have been given an injection of confidence," she said. "Investment will likely continue to grow at a breakneck pace in the coming months."
Source:China Daily
The National Bureau of Statistics did not reveal the investment growth for July, but based on these figures, it is estimated that the July figure could be 29.4 percent.
China's domestic demand also grew steadily in July, increasing the possibility that the overall economy may not suffer much while trade is battered by weakening global demand, analysts said.
The annualized growth rate in retail sales rose to a record 23.3 percent in July from 23 percent in June, according to the statistics bureau. This is all the more impressive as inflation dropped to 6.3 percent in July from 7.1 percent in June.
As the country's trade surplus fell 9.6 percent year-on-year in the January-July period, the solid growth in retail sales and investment is an assurance the economy could remain resilient, analysts said.
China's economic growth slowed to 10.4 percent in the first half from almost 12 percent last year.
"With the phasing out of the Olympics influence and the slowing of household incomes, growth in domestic consumption will weaken in the second half, but it will still be the steadiest driver of the economy," Ha Jiming, chief economist at investment bank CICC, said in a research note.
Agreed Zhu Baoliang, senior economist with the State Information Center. Consumption will remain stable for the rest of the year, he said. "Retail sales generally do not change much. It is expected to remain stable, but will not increase rapidly."
Fixed-asset investment, a major pillar of the national economy, may ease in the coming months, he said. A large part of the investment is trade-related, analysts said, and will decline as export slows.
But it should not decline significantly since investment by the government and State enterprises would remain strong, said Duan Hongbin, economist with Ipencil Economic Research Institute in Shanghai. "Private enterprises may feel the need for investment capital, but State enterprises won't."
Although export and trade surplus growth could continue to fall in the coming months and the economy is set to decline, the overall economy can still manage to grow at 10 percent this year, said Zhu.
Macroeconomic regulations would hold the key to the economy, analysts said. China has adopted a tightening policy since the second half of last year to curb inflation and overheating. But the latest stance has been shifted to curbing inflation while ensuring a stable economy, a departure from the previous one.
"I'm not sure to what extent the Chinese economy would slow this year," said Hua Min, director of Fudan University's Institute of World Economy. "In the short term, it will hinge on the degree of policy tightening. If policymakers ease the tightening stance and increase liquidity in the market, the economy can be saved from drastic declines."
Following last week's rumor that the government was considering a massive stimulus plan worth up to 400 billion yuan, the Economic Observer yesterday reported policymakers are indeed considering such a plan, which includes 220 billion yuan in new investments and 150 billion in tax cuts, citing insiders.
The rumor reflects a market expectation that policymakers may intervene to save the economy as global economic prospects remain gloomy, analysts said. And, the belief that the government wishes to spur growth might in itself boost fixed-asset investment in the coming months, said Sherman Chan at Moody's Economy.com in a research note.
"As the authorities appear to have now shifted their top priority from curbing inflation to fuelling economic growth, investors keen to enter the Chinese market have been given an injection of confidence," she said. "Investment will likely continue to grow at a breakneck pace in the coming months."
Source:China Daily
Chinalco gets the Rio nod
Aluminum Corp of China, or Chinalco, has got Australian approval to raise to 11 percent its stake in Rio Tinto Group, the target of a hostile $143 billion takeover by rival miner BHP Billiton Ltd.
"I have decided to raise no objections under Australia's foreign investment policy," Wayne Swan, federal treasurer of Australia, said yesterday in a statement.
Chinalco, in partnership with Alcoa Inc, bought a 9 percent stake in London-based Rio in February and said in March it might seek to increase that holding.
The bid by China's biggest aluminum producer may make it more difficult for Melbourne-based BHP to succeed in its all-stock takeover offer for Rio, the world's third largest mining company. Chinalco may be seeking to increase its stake to block that deal, the Australian Financial Review reported earlier.
"This will underpin the Rio share price and also create uncertainty about whether or not BHP will get its deal over the line," said Stephen Bartrop, a resources analyst and director of Sydney-based Stock Resource. "Even if Chinalco doesn't increase its stake, it shows they have the capacity to block the deal."
BHP closed 3.1 percent higher at A$40.15 on Aug 22 on the Australian stock exchange and Rio gained 0.7 percent to 5,179 pence on the London Stock Exchange. Rio's stock is 14 percent below the 6,000 pence a share price paid by Chinalco and Alcoa when they bought their stake.
Liu Qiang, Chinalco's company secretary, couldn't be reached for comment. Rio spokeswoman Amanda Buckley also couldn't be contacted.
"While Australia welcomes foreign investment, we will carefully examine national interest issues where these arise in relation to foreign sovereign ownership," Swan said in the statement. Chinalco will have to reapply to increase its stake beyond the level approved yesterday, and has agreed not to seek representation on Rio's board, Swan said.
BHP's CEO Marius Kloppers wants the Chinese company's support for his deal, which would create the world's biggest producer of aluminum and energy coal.
Source:China Daily/Agencies
"I have decided to raise no objections under Australia's foreign investment policy," Wayne Swan, federal treasurer of Australia, said yesterday in a statement.
Chinalco, in partnership with Alcoa Inc, bought a 9 percent stake in London-based Rio in February and said in March it might seek to increase that holding.
The bid by China's biggest aluminum producer may make it more difficult for Melbourne-based BHP to succeed in its all-stock takeover offer for Rio, the world's third largest mining company. Chinalco may be seeking to increase its stake to block that deal, the Australian Financial Review reported earlier.
"This will underpin the Rio share price and also create uncertainty about whether or not BHP will get its deal over the line," said Stephen Bartrop, a resources analyst and director of Sydney-based Stock Resource. "Even if Chinalco doesn't increase its stake, it shows they have the capacity to block the deal."
BHP closed 3.1 percent higher at A$40.15 on Aug 22 on the Australian stock exchange and Rio gained 0.7 percent to 5,179 pence on the London Stock Exchange. Rio's stock is 14 percent below the 6,000 pence a share price paid by Chinalco and Alcoa when they bought their stake.
Liu Qiang, Chinalco's company secretary, couldn't be reached for comment. Rio spokeswoman Amanda Buckley also couldn't be contacted.
"While Australia welcomes foreign investment, we will carefully examine national interest issues where these arise in relation to foreign sovereign ownership," Swan said in the statement. Chinalco will have to reapply to increase its stake beyond the level approved yesterday, and has agreed not to seek representation on Rio's board, Swan said.
BHP's CEO Marius Kloppers wants the Chinese company's support for his deal, which would create the world's biggest producer of aluminum and energy coal.
Source:China Daily/Agencies
Egyptian governor invites Chinese investment
Egypt's North Sinai Governor Mohamed Shousha said here Monday that he welcomes investments from China, particularly in the domains of high technology, tourism, mining and water resources.
In an interview with Xinhua, Shousha said there is a great potential for Egypt and China to boost investment in various fields in the northeastern Egyptian governorate.
He said North Sinai governorate is working on realizing development in the fields of agriculture, industry, mining, tourism and human resources.
He expressed his hope that his governorate, even Egypt as a whole, can attract more investments from China to make use of China's advanced high technology, which has witnessed great developments in the past years.
Chinese companies are also welcomed to invest in the Mediterranean coastal governorate for sea products, said Shousha.
Source:Xinhua
In an interview with Xinhua, Shousha said there is a great potential for Egypt and China to boost investment in various fields in the northeastern Egyptian governorate.
He said North Sinai governorate is working on realizing development in the fields of agriculture, industry, mining, tourism and human resources.
He expressed his hope that his governorate, even Egypt as a whole, can attract more investments from China to make use of China's advanced high technology, which has witnessed great developments in the past years.
Chinese companies are also welcomed to invest in the Mediterranean coastal governorate for sea products, said Shousha.
Source:Xinhua
China's listed companies see profit growth slow dramatically in 1H
Listed companies' profits grew less than half as fast in the first half of 2008 as they did a year earlier, the Shanghai Securities News reported on Tuesday.
The newspaper said as of Monday, 1,178 listed companies, or 72.8 percent of the total, had released interim statements.
These reports showed they earned 323.14 billion yuan in all, up 30.9 percent year-on-year. The year-earlier growth rate was 70 percent.
Revenue grew 28.4 percent to 3.13 trillion yuan, but operating cash flow contracted sharply, falling 60 percent to 412.92 billion yuan.
The newspaper said profits were affected by an economic slowdown and a weak domestic stock market, while last year's results were boosted by a bullish equity market. The stock market has declined by more than half since it peaked last fall.
Gross domestic product growth was 10.4 percent in the first half, 1.8 percentage points lower than the same period last year, amid slowing world economic activity and domestic policies intended to cool China's economy.
Although more than 20 percent of listed companies have yet to release half-year results, analysts said overall corporate profit growth would likely come in between 20 percent and 30 percent.
Source:Xinhua
The newspaper said as of Monday, 1,178 listed companies, or 72.8 percent of the total, had released interim statements.
These reports showed they earned 323.14 billion yuan in all, up 30.9 percent year-on-year. The year-earlier growth rate was 70 percent.
Revenue grew 28.4 percent to 3.13 trillion yuan, but operating cash flow contracted sharply, falling 60 percent to 412.92 billion yuan.
The newspaper said profits were affected by an economic slowdown and a weak domestic stock market, while last year's results were boosted by a bullish equity market. The stock market has declined by more than half since it peaked last fall.
Gross domestic product growth was 10.4 percent in the first half, 1.8 percentage points lower than the same period last year, amid slowing world economic activity and domestic policies intended to cool China's economy.
Although more than 20 percent of listed companies have yet to release half-year results, analysts said overall corporate profit growth would likely come in between 20 percent and 30 percent.
Source:Xinhua
HSBC report: China consumer spending still strong and accelerating
The increase in China's retail sales volume exceeded 20 percent year on year in the last eight months and is still accelerating, enough to sustain economic growth above 9.5 percent for the rest of the year, a HSBC report said.
According to the report "China Economic Spotlight" released on Tuesday, consumer spending has performed strongly despite the slowing economy, the disastrous earthquake and the cancellation of the May Day golden week.
Taking into account the retail price index, the real retail sales growth hit a decade record of 15.4 percent year on year in July from 14.8 percent in June, substantially higher than the monthly average of 12.4 percent in 2007.
Both urban and rural areas showed strong retail sales growth in real terms over the same period last year, with rural retail up 14percent to 280 billion yuan and that of urban areas up 17 percent to 600 billion yuan.
Strong consumer spending is attributable to the rapidly increasing expenditure on accommodation and catering, up 26.5 percent year on year in July, and the robust growth of wholesale and retail trading, said the report.
In terms of commodities, petroleum products, jewellery, cosmetics, garments and automobiles are taking the lead. Petroleum products sales rose 55.2 percent year on year in July from 44.4 percent in the first half, reflecting the still strong demand despite the fuel price rise in June.
However, as a side effect of a less vibrant property market, the growth of building material sales fell further to -3.4 percent in July from the -1.8 percent in Jan-Jun period, a sharp decline from the 41 percent growth in the first half of 2007.
The report attributed the vibrant spending to the strong income growth of the past few years and the structural upgrading of spending on consumer goods.
In real terms, urban disposable income growth has maintained 10percent growth annually in the last three years, while rural residents' net income is increasing even faster. From January to June, urban per capita disposable income rose by 6.3 percent, while rural incomes increased 10.3 percent.
With nearly 1,900 US dollars per annum of disposable income for the urban residents and almost 700 US dollars per annum cash income for farmers, Chinese people are upgrading their consumption structure, said the report. They spend more on recreational goods, dine out more frequently, buy cars and go on more holidays, hence the fast rising sales of automobiles, garments, cosmetics and jewellery.
In terms of the tumbling stock market, the HSBC report held that the sharp fall in the market had a limited negative wealth effect because shareholders represent less than 5 percent of the population.
Source:Xinhua
According to the report "China Economic Spotlight" released on Tuesday, consumer spending has performed strongly despite the slowing economy, the disastrous earthquake and the cancellation of the May Day golden week.
Taking into account the retail price index, the real retail sales growth hit a decade record of 15.4 percent year on year in July from 14.8 percent in June, substantially higher than the monthly average of 12.4 percent in 2007.
Both urban and rural areas showed strong retail sales growth in real terms over the same period last year, with rural retail up 14percent to 280 billion yuan and that of urban areas up 17 percent to 600 billion yuan.
Strong consumer spending is attributable to the rapidly increasing expenditure on accommodation and catering, up 26.5 percent year on year in July, and the robust growth of wholesale and retail trading, said the report.
In terms of commodities, petroleum products, jewellery, cosmetics, garments and automobiles are taking the lead. Petroleum products sales rose 55.2 percent year on year in July from 44.4 percent in the first half, reflecting the still strong demand despite the fuel price rise in June.
However, as a side effect of a less vibrant property market, the growth of building material sales fell further to -3.4 percent in July from the -1.8 percent in Jan-Jun period, a sharp decline from the 41 percent growth in the first half of 2007.
The report attributed the vibrant spending to the strong income growth of the past few years and the structural upgrading of spending on consumer goods.
In real terms, urban disposable income growth has maintained 10percent growth annually in the last three years, while rural residents' net income is increasing even faster. From January to June, urban per capita disposable income rose by 6.3 percent, while rural incomes increased 10.3 percent.
With nearly 1,900 US dollars per annum of disposable income for the urban residents and almost 700 US dollars per annum cash income for farmers, Chinese people are upgrading their consumption structure, said the report. They spend more on recreational goods, dine out more frequently, buy cars and go on more holidays, hence the fast rising sales of automobiles, garments, cosmetics and jewellery.
In terms of the tumbling stock market, the HSBC report held that the sharp fall in the market had a limited negative wealth effect because shareholders represent less than 5 percent of the population.
Source:Xinhua
Chinese shares down 2.62% amid weak market sentiment
Chinese equities lost 2.62 percent on Tuesday amid weak market sentiment in response to news that listed companies' profit growth slowed drastically in the first half of 2008 from a year earlier.
The benchmark Shanghai Composite Index slumped 2.62 percent, or63.29 points, to close at 2,350.08 points. In Shenzhen, the market fell 2.21 percent, or 178.08 points, to close at 7,887.37 points.
Aggregate turnover expanded to 47.2 billion yuan from 40.56 billion yuan on the previous trading day.
Losses outnumbered gains by 772-54 in Shanghai and 646-35 in Shenzhen.
Source:Xinhua
The benchmark Shanghai Composite Index slumped 2.62 percent, or63.29 points, to close at 2,350.08 points. In Shenzhen, the market fell 2.21 percent, or 178.08 points, to close at 7,887.37 points.
Aggregate turnover expanded to 47.2 billion yuan from 40.56 billion yuan on the previous trading day.
Losses outnumbered gains by 772-54 in Shanghai and 646-35 in Shenzhen.
Source:Xinhua
Baosteel pares prices as demand wanes, but 4Q rebound possible
Baosteel Group Corp., China's largest steelmaker by output, has cut prices in response to low off-season sales in July and August and a cooling economy that has dented demand.
The cuts would apply to October and perhaps the entire fourth quarter, depending on demand. Steel prices cuts aren't unusual in China at that time of year, however, and the reductions might only be temporary.
As the industry leader, the Shanghai-based company often sets price trends for the sector. It said the move was its first price reduction this year. It raised prices in each of the previous three quarters.
Price cut amounts and percentages vary by the type of steel, but cold rolled steel prices were cut by 300 yuan per tonne, according to a price report released by the company on Tuesday.
The price of 1mm by 1,250 mm steel on Tuesday was 7,350 yuan per tonne.
Analysts said the company was seeking to retain flexibility in case demand rebounded.
Analysts at Guojin Securities said besides the seasonal and economic slowdowns, some steel factories had stopped running to improve air quality during the Beijing Olympics. Construction controls during the Olympics had weakened demand.
The analysts said they expected prices would rise as September and October are usually the peak season for steel sales.
Fourth-quarter price cuts are customary for major steel makers, so Baosteel's action was largely predictable, said Xu Xiangchun, senior consultant at a Beijing-based steel e-commerce company
He said that market volume had shrunk and prices had fallen after steel prices peaked in early June. Steel prices fell 15 percent in July and August, compared with a 30-percent increase in the first half.
In July, amid soaring costs of iron ore and coke, output of rawsteel, pig iron and rolled steel stood at about 45 million tonnes, 42 million tonnes and 51 tonnes, down 2.7 percent, 2 percent and 4percent, respectively, from June, the International Iron and Steel Institute said.
Second-half economic conditions would exert further pressure on steel prices. The first half saw weak nationwide sales of housing, vehicles and home appliances -- all major users of steel.
Source:Xinhua
The cuts would apply to October and perhaps the entire fourth quarter, depending on demand. Steel prices cuts aren't unusual in China at that time of year, however, and the reductions might only be temporary.
As the industry leader, the Shanghai-based company often sets price trends for the sector. It said the move was its first price reduction this year. It raised prices in each of the previous three quarters.
Price cut amounts and percentages vary by the type of steel, but cold rolled steel prices were cut by 300 yuan per tonne, according to a price report released by the company on Tuesday.
The price of 1mm by 1,250 mm steel on Tuesday was 7,350 yuan per tonne.
Analysts said the company was seeking to retain flexibility in case demand rebounded.
Analysts at Guojin Securities said besides the seasonal and economic slowdowns, some steel factories had stopped running to improve air quality during the Beijing Olympics. Construction controls during the Olympics had weakened demand.
The analysts said they expected prices would rise as September and October are usually the peak season for steel sales.
Fourth-quarter price cuts are customary for major steel makers, so Baosteel's action was largely predictable, said Xu Xiangchun, senior consultant at a Beijing-based steel e-commerce company
He said that market volume had shrunk and prices had fallen after steel prices peaked in early June. Steel prices fell 15 percent in July and August, compared with a 30-percent increase in the first half.
In July, amid soaring costs of iron ore and coke, output of rawsteel, pig iron and rolled steel stood at about 45 million tonnes, 42 million tonnes and 51 tonnes, down 2.7 percent, 2 percent and 4percent, respectively, from June, the International Iron and Steel Institute said.
Second-half economic conditions would exert further pressure on steel prices. The first half saw weak nationwide sales of housing, vehicles and home appliances -- all major users of steel.
Source:Xinhua
Beijing Olympics helps raise Romanian TV's rating
The Beijing Olympic Games helped raise the rating of Romania's national channel TVR 1 in urban areas from Aug. 8 to Aug. 21, the local daily Business Standard reported Tuesday.
TVR 1 got an average viewership of 0.7 percent in terms of viewers in urban areas this July. But in the first three weeks of August, the channel got an average rating of 1 percent.
The figure did not include the last three days of the Olympics or the closing ceremony, which could raise the rating higher.
Liviu Boitan, research and strategy coordinator of MediaCom Romania advertising agency, estimated that public TV could earn 1.5 million euros from advertising during the live broadcast of the Beijing Olympic Games.
The Romanian national TV transmitted over 320 hours of live coverage during the Olympics through its two channels, TVR 1 and TVR 2.
Source: Xinhua
TVR 1 got an average viewership of 0.7 percent in terms of viewers in urban areas this July. But in the first three weeks of August, the channel got an average rating of 1 percent.
The figure did not include the last three days of the Olympics or the closing ceremony, which could raise the rating higher.
Liviu Boitan, research and strategy coordinator of MediaCom Romania advertising agency, estimated that public TV could earn 1.5 million euros from advertising during the live broadcast of the Beijing Olympic Games.
The Romanian national TV transmitted over 320 hours of live coverage during the Olympics through its two channels, TVR 1 and TVR 2.
Source: Xinhua
China UnionPay issues 150,000 credit cards in ROK
China UnionPay , a bankcard association headquartered in Shanghai, has issued more than 150,000 UnionPay credit cards in the Republic of Korea since the initial issuance in February.
The credit cards "zhong guo tong", literally "Around China", were jointly issued by China UnionPay and ROK's leading credit card company BC Card Co., Ltd .
CUP anticipated that the card issuance would hit 1 million by February next year.
A BC senior official expressed his willingness to promote the cards to more local residents and said the company was clearly planning to reach the goal of 1 million credit cards by next February.
From February to July, ROK citizens had spent up to 130 million yuan by using the card in their own country, and nearly 200 million yuan in China, while Chinese citizens had spent over 140 million yuan in ROK, according to CUP.
"I find this card very useful during my stay in Beijing. I can use it to draw money on ATMs and consume through POS systems ," said a young ROK lady, who had come to Beijing to watch the Olympic Games.
CUP President Xu Luode said the issuance of UnionPay was a result of deepened economic and trade ties between China and ROK.
Currently, nearly 1 million ROK nationals, including 600,000 students are living in China.
Source: Xinhua
The credit cards "zhong guo tong", literally "Around China", were jointly issued by China UnionPay and ROK's leading credit card company BC Card Co., Ltd .
CUP anticipated that the card issuance would hit 1 million by February next year.
A BC senior official expressed his willingness to promote the cards to more local residents and said the company was clearly planning to reach the goal of 1 million credit cards by next February.
From February to July, ROK citizens had spent up to 130 million yuan by using the card in their own country, and nearly 200 million yuan in China, while Chinese citizens had spent over 140 million yuan in ROK, according to CUP.
"I find this card very useful during my stay in Beijing. I can use it to draw money on ATMs and consume through POS systems ," said a young ROK lady, who had come to Beijing to watch the Olympic Games.
CUP President Xu Luode said the issuance of UnionPay was a result of deepened economic and trade ties between China and ROK.
Currently, nearly 1 million ROK nationals, including 600,000 students are living in China.
Source: Xinhua
Chinese president calls for closer China-ROK parliamentary exchanges
Chinese President Hu Jintao on Tuesday called for closer parliamentary exchanges between China and the Republic of Korea to push forward bilateral relations.
At a meeting with ROK National Assembly Speaker Kim Hyong-o, Hu said the China-ROK relations have developed rapidly since the two nations established diplomatic ties 16 years ago, adding that the exchanges and cooperation between the two sides haven been closer in various areas.
As a significant part of China-ROK ties, the active exchanges between the parliaments, the political parties and organizations of the two countries have further boosted mutual understanding and trust and played an important role in moving forward the sound and steady bilateral relations, Hu said.
The Chinese leader expressed the hope that the parliaments and political circles of the two countries would strengthen exchanges and cooperation and make new contributions to the constantly developing China-ROK ties.
Kim said the ROK people enjoy the fast-developing ties with China.
The ROK side highly commends China's close attention to peace and stability in Northeast Asia and its important role in the denuclearization process on the Korean Peninsula, he said.
All political parties in the ROK support strengthening the exchanges and cooperation between Seoul and Beijing in various areas and are willing to make positive efforts to further bilateral ties, Kim added.
Kim expressed congratulations to Hu over the success of the Beijing Olympics and the excellent results achieved by Chinese athletes. He said the ROK people will remember the Beijing Olympics as the ROK athletes achieved in Beijing the best result at an Olympics.
Hu expressed gratitude to the ROK government and people for their support for the Beijing Olympics.
The Chinese president arrived in Seoul Monday for a two-day state visit. He left Seoul Tuesday afternoon for Dushanbe, Tajikistan, to continue his three-nation Asian tour which will also take him to Turkmenistan.
Source: Xinhua
At a meeting with ROK National Assembly Speaker Kim Hyong-o, Hu said the China-ROK relations have developed rapidly since the two nations established diplomatic ties 16 years ago, adding that the exchanges and cooperation between the two sides haven been closer in various areas.
As a significant part of China-ROK ties, the active exchanges between the parliaments, the political parties and organizations of the two countries have further boosted mutual understanding and trust and played an important role in moving forward the sound and steady bilateral relations, Hu said.
The Chinese leader expressed the hope that the parliaments and political circles of the two countries would strengthen exchanges and cooperation and make new contributions to the constantly developing China-ROK ties.
Kim said the ROK people enjoy the fast-developing ties with China.
The ROK side highly commends China's close attention to peace and stability in Northeast Asia and its important role in the denuclearization process on the Korean Peninsula, he said.
All political parties in the ROK support strengthening the exchanges and cooperation between Seoul and Beijing in various areas and are willing to make positive efforts to further bilateral ties, Kim added.
Kim expressed congratulations to Hu over the success of the Beijing Olympics and the excellent results achieved by Chinese athletes. He said the ROK people will remember the Beijing Olympics as the ROK athletes achieved in Beijing the best result at an Olympics.
Hu expressed gratitude to the ROK government and people for their support for the Beijing Olympics.
The Chinese president arrived in Seoul Monday for a two-day state visit. He left Seoul Tuesday afternoon for Dushanbe, Tajikistan, to continue his three-nation Asian tour which will also take him to Turkmenistan.
Source: Xinhua
China urges parties to honor promises as DPRK halts denuclearisation
China on Tuesday urged parties in the Korean Peninsula nuclear talks to honor their commitments and take joint actions even when difficulties arise.
"Whether opportunity knocks or difficulty arises, we should keep in mind our goal of a denuclearized Korean Peninsula and a peaceful and stable northeast Asia, honor our commitments, enhancemutual trust and work closely to push the six-party talks," Foreign Ministry spokesman Qin Gang told a regular press briefing.
Qin's comments came hours after the Democratic People's Republic of Korea announced that it had stopped disabling its nuclear facilities in Yongbyon.
The DPRK will "consider reconstructing the nuclear facilities, "the official KCNA news agency quoted a Foreign Ministry spokesman as saying.
Accusing the United States of violating a six-nation disarmament deal, the DPRK attributed its move to the U.S. failure to remove it from a terrorism blacklist.
Under a six-party denuclearization deal, the disablement work at the Yongbyon facility, about 90 kilometers from the capital Pyongyang, had been under way since November 2007.
"The six-party talks are still faced with important opportunities," Qin said, citing the progress made in earlier six-party talks.
"The chief negotiators' talks and foreign ministers' informal meeting in July produced important consensuses on how to move the nuclear talks ahead," Qin said.
The spokesman said China has always kept close communication and consultation with the other parties in the talks in an effort to iron out differences and increase common ground.
"We hope the communication and consultation can overcome all difficulties and complex factors and take the nuclear talks into anew phase," Qin said.
The spokesman stressed that China will continue its constructive role in the talks, which started in 2003 and also include the Republic of Korea , Russia and Japan.
"China will take an open attitude and play its part in any effort that will work for the denuclearization of the Korean Peninsula and safeguard regional peace and stability," Qin said.
Source: Xinhua
"Whether opportunity knocks or difficulty arises, we should keep in mind our goal of a denuclearized Korean Peninsula and a peaceful and stable northeast Asia, honor our commitments, enhancemutual trust and work closely to push the six-party talks," Foreign Ministry spokesman Qin Gang told a regular press briefing.
Qin's comments came hours after the Democratic People's Republic of Korea announced that it had stopped disabling its nuclear facilities in Yongbyon.
The DPRK will "consider reconstructing the nuclear facilities, "the official KCNA news agency quoted a Foreign Ministry spokesman as saying.
Accusing the United States of violating a six-nation disarmament deal, the DPRK attributed its move to the U.S. failure to remove it from a terrorism blacklist.
Under a six-party denuclearization deal, the disablement work at the Yongbyon facility, about 90 kilometers from the capital Pyongyang, had been under way since November 2007.
"The six-party talks are still faced with important opportunities," Qin said, citing the progress made in earlier six-party talks.
"The chief negotiators' talks and foreign ministers' informal meeting in July produced important consensuses on how to move the nuclear talks ahead," Qin said.
The spokesman said China has always kept close communication and consultation with the other parties in the talks in an effort to iron out differences and increase common ground.
"We hope the communication and consultation can overcome all difficulties and complex factors and take the nuclear talks into anew phase," Qin said.
The spokesman stressed that China will continue its constructive role in the talks, which started in 2003 and also include the Republic of Korea , Russia and Japan.
"China will take an open attitude and play its part in any effort that will work for the denuclearization of the Korean Peninsula and safeguard regional peace and stability," Qin said.
Source: Xinhua
Rural loan scheme gives credit where due in NW China
Looking at the piles of snow-white cotton harvested from his 18 mu of fields, Niyazi could not help grinning. The 40-year-old farmer from northwest China's Xinjiang Uygur Autonomous Region will have a bumper harvest and a gleam of hope for a better life this year
"I owe all this to the new rural credit system," said Niyazi.
Niyazi, a father of two schoolchildren from Xiaoyiluke Village,Xinhe County, Akesu Prefecture, was the support of a poor family. There was no way out when it came to the spring plowing season this year.
He netted 7,000 yuan from his cotton crop last year. But this spring, he needed that exact amount for seeds, fertilizers and plastic film for water-saving irrigation. To live or to plow, became the question.
There were banks around. But Niyazi had no collateral or guarantors.
"Aizezi came forth" when I was at a dead end, said Niyazi.
His savior, Aizezi, who worked at the local rural credit cooperative, came with a hammer and nailed a red iron slate on Niyazi's door.
Under a rural credit scheme that took effect in mid-2007 in Xinjiang, that slate, along with a little red book that was actually a loan certificate, meant that Niyazi would be able to borrow up to 10,000 yuan from the co-op.
Rural credit co-ops have functioned in China for decades as a major means of financing for local farmers. The one that helped Niyazi was the Xinhe Rural Credit Co-operative, which was formed with the support of local village heads.
It evaluates creditworthiness based on farmers' previous loan records , farming activities and record of obeying the law. It doesn't ask for collateral or guarantors.
"We decided our mission was to elevate the credit standing of farmers by improving our small loan service," said Abudu, director of the Xinjiang Rural Credit Co-operative Alliance, of the alliance's formation.
By the end of 2007, about 91 percent of the farmers in Xinhe County, or 23,900 households, had credit files that divide them into three categories depending on how much they can borrow: 10,000 yuan, 20,000 yuan and 30,000 yuan. For this purpose, the co-op set aside 269 million yuan for loans.
"The little red book doesn't weigh much, but it's a life-saver to me," said Niyazi, who quickly got his loan.
SMALL LOANS FOR FARMERS
In Xinjiang, as in other parts of China, many farmers can't get loans.
"With loans, they might use their farms to build a better life. Without them, they will continue struggling under the poverty line," said Gong Weibin, a professor at the China National School of Administration.
Even credit-worthy farmers can find it tough and time-consuming to get loans. Local lending officers often take days to evaluate applications, as they're unsure of being repaid.
Through the co-ops, village heads provide something like a character reference for farmers when credit officers evaluate applications. They're involved through the whole process, until the loan is repaid. For their participation, they're paid about 1,000 yuan annually by the rural credit co-ops, or about 10 percent of the salary for a credit co-op staffer.
"Rural credit co-operatives are able to hire 10 qualified village heads on a part-time basis for the salary of one staff member and effectively lower costs," said Zhang Jian, head of Kashi Banking Regulatory Bureau.
Some village heads say this system makes for better relations with the farmers.
"Our duties used to have us collect all kinds of annoying fees from farmers. With this new mission, we are able to do something that really helps needy farmers and we become more reliable in the eyes of farmers," said Tu'erxun Wushou'er, head of the No.1 Village of Yikesu Township of Zepu County, who takes part in the system.
Although the co-ops do the lending, local governments help because the loans ultimately support their regions.
"Rural credit co-operatives are actually helping us to boost the local economy," said Yan Yongbin, head of Paixian Baibazha Township under Xinhe County.
The township sends three financial officials to work with the co-op for two months each year.
"With our support, the rural cooperatives are willing to take more risks," said Yan. In 2007, Xinhe's co-op extended 39 million yuan in loans to local farmers, up from 7 million yuan in 2005.
Local farmers have proven themselves reliable. For three years in a row, all their loans were repaid, including those extended before the scheme started. As of the end of June this year, the Xinhe co-op had lent 353 million yuan to local farmers, said Aini Wa'er, its president.
The loans helped the farmers improve their lives, with per capita net income of 4,061 yuan in 2007, 2.3 times that of 2002.
To date, Xinjiang has extended non-guaranteed loans to 980,000 rural households, or 46 percent of the total; 2,815 villages and 166 townships .
In 2007, Xinjiang extended 30.4 billion yuan in loans to farmers, a net increase of 8 billion yuan year-on-year.
GREATER LENDING SCOPE
So far, most loans from Xinjiang's rural credit co-ops have been used by farmers. But there have been others who benefit.
Farmer Yang Chunlan from Donggou Township, Dabancheng, borrowed from a rural co-op for her small restaurant. Yang has used her cooking skills to support her five-member family, as her 6 mu plot didn't yield enough.
She opened the shop in 1994. A decade later, wanting to expand, she turned to the Dabancheng co-op, which had a small loan program for female entrepreneurs. It was one of a dozen specialized credit services offered by the organization.
With a 1,000-yuan loan, Yang made her restaurant big enough for100 customers at a time. She borrowed and repaid several loans over the years, raising her creditworthiness along the way. She's now making enough from her restaurant to send her two children to a better school and put a second story on the building.
Yang and Niyazi are the people co-ops were intended to help. "We hope to extend the scope of our lending. Priority will be given to orchards and animal husbandry," said Wu Mai'errouzi of the Xinhe co-op.
Raising fruit trees is an investment and "the more you invest, the more you can harvest," said Yan.
Xinhe, which is in southern Xinjiang, has ideal conditions for growing walnuts, which can be planted along the ridges of cotton fields. Just 1 mu of trees might yield 300-400 kg of nuts a year and a handsome income, but it takes six years before the saplings mature.
"No farmer can afford to wait so long, without financing," said Yan.
KEEPING CREDIT IN MIND
One year into the credit-record system, Xinjiang farmers have become increasingly aware of the importance of their borrowing record, said Wang Huimin, who is an official of the Xinhe co-op. In Akesu City, rural co-ops' bad loans fell 97 percent from 2002 to just 60,000 yuan in 2007.
During the autumn harvest season, Xinjiang farmers stand in line to repay their loans. So far, nearly 1 million farming and herding households are classified as trustworthy, said Abudu.
Niyazi, who expects to sell his cotton crop for about 26,000 yuan, is eager to repay his loans.
"We see the red iron plates on neighbors' doors. We farmers are highly sensitive to our reputations. Who doesn't want a good credit rating?" he asked, adding: "Lads who don't have a red plate on their door, won't find a girlfriend in our village."
Source: Xinhua
"I owe all this to the new rural credit system," said Niyazi.
Niyazi, a father of two schoolchildren from Xiaoyiluke Village,Xinhe County, Akesu Prefecture, was the support of a poor family. There was no way out when it came to the spring plowing season this year.
He netted 7,000 yuan from his cotton crop last year. But this spring, he needed that exact amount for seeds, fertilizers and plastic film for water-saving irrigation. To live or to plow, became the question.
There were banks around. But Niyazi had no collateral or guarantors.
"Aizezi came forth" when I was at a dead end, said Niyazi.
His savior, Aizezi, who worked at the local rural credit cooperative, came with a hammer and nailed a red iron slate on Niyazi's door.
Under a rural credit scheme that took effect in mid-2007 in Xinjiang, that slate, along with a little red book that was actually a loan certificate, meant that Niyazi would be able to borrow up to 10,000 yuan from the co-op.
Rural credit co-ops have functioned in China for decades as a major means of financing for local farmers. The one that helped Niyazi was the Xinhe Rural Credit Co-operative, which was formed with the support of local village heads.
It evaluates creditworthiness based on farmers' previous loan records , farming activities and record of obeying the law. It doesn't ask for collateral or guarantors.
"We decided our mission was to elevate the credit standing of farmers by improving our small loan service," said Abudu, director of the Xinjiang Rural Credit Co-operative Alliance, of the alliance's formation.
By the end of 2007, about 91 percent of the farmers in Xinhe County, or 23,900 households, had credit files that divide them into three categories depending on how much they can borrow: 10,000 yuan, 20,000 yuan and 30,000 yuan. For this purpose, the co-op set aside 269 million yuan for loans.
"The little red book doesn't weigh much, but it's a life-saver to me," said Niyazi, who quickly got his loan.
SMALL LOANS FOR FARMERS
In Xinjiang, as in other parts of China, many farmers can't get loans.
"With loans, they might use their farms to build a better life. Without them, they will continue struggling under the poverty line," said Gong Weibin, a professor at the China National School of Administration.
Even credit-worthy farmers can find it tough and time-consuming to get loans. Local lending officers often take days to evaluate applications, as they're unsure of being repaid.
Through the co-ops, village heads provide something like a character reference for farmers when credit officers evaluate applications. They're involved through the whole process, until the loan is repaid. For their participation, they're paid about 1,000 yuan annually by the rural credit co-ops, or about 10 percent of the salary for a credit co-op staffer.
"Rural credit co-operatives are able to hire 10 qualified village heads on a part-time basis for the salary of one staff member and effectively lower costs," said Zhang Jian, head of Kashi Banking Regulatory Bureau.
Some village heads say this system makes for better relations with the farmers.
"Our duties used to have us collect all kinds of annoying fees from farmers. With this new mission, we are able to do something that really helps needy farmers and we become more reliable in the eyes of farmers," said Tu'erxun Wushou'er, head of the No.1 Village of Yikesu Township of Zepu County, who takes part in the system.
Although the co-ops do the lending, local governments help because the loans ultimately support their regions.
"Rural credit co-operatives are actually helping us to boost the local economy," said Yan Yongbin, head of Paixian Baibazha Township under Xinhe County.
The township sends three financial officials to work with the co-op for two months each year.
"With our support, the rural cooperatives are willing to take more risks," said Yan. In 2007, Xinhe's co-op extended 39 million yuan in loans to local farmers, up from 7 million yuan in 2005.
Local farmers have proven themselves reliable. For three years in a row, all their loans were repaid, including those extended before the scheme started. As of the end of June this year, the Xinhe co-op had lent 353 million yuan to local farmers, said Aini Wa'er, its president.
The loans helped the farmers improve their lives, with per capita net income of 4,061 yuan in 2007, 2.3 times that of 2002.
To date, Xinjiang has extended non-guaranteed loans to 980,000 rural households, or 46 percent of the total; 2,815 villages and 166 townships .
In 2007, Xinjiang extended 30.4 billion yuan in loans to farmers, a net increase of 8 billion yuan year-on-year.
GREATER LENDING SCOPE
So far, most loans from Xinjiang's rural credit co-ops have been used by farmers. But there have been others who benefit.
Farmer Yang Chunlan from Donggou Township, Dabancheng, borrowed from a rural co-op for her small restaurant. Yang has used her cooking skills to support her five-member family, as her 6 mu plot didn't yield enough.
She opened the shop in 1994. A decade later, wanting to expand, she turned to the Dabancheng co-op, which had a small loan program for female entrepreneurs. It was one of a dozen specialized credit services offered by the organization.
With a 1,000-yuan loan, Yang made her restaurant big enough for100 customers at a time. She borrowed and repaid several loans over the years, raising her creditworthiness along the way. She's now making enough from her restaurant to send her two children to a better school and put a second story on the building.
Yang and Niyazi are the people co-ops were intended to help. "We hope to extend the scope of our lending. Priority will be given to orchards and animal husbandry," said Wu Mai'errouzi of the Xinhe co-op.
Raising fruit trees is an investment and "the more you invest, the more you can harvest," said Yan.
Xinhe, which is in southern Xinjiang, has ideal conditions for growing walnuts, which can be planted along the ridges of cotton fields. Just 1 mu of trees might yield 300-400 kg of nuts a year and a handsome income, but it takes six years before the saplings mature.
"No farmer can afford to wait so long, without financing," said Yan.
KEEPING CREDIT IN MIND
One year into the credit-record system, Xinjiang farmers have become increasingly aware of the importance of their borrowing record, said Wang Huimin, who is an official of the Xinhe co-op. In Akesu City, rural co-ops' bad loans fell 97 percent from 2002 to just 60,000 yuan in 2007.
During the autumn harvest season, Xinjiang farmers stand in line to repay their loans. So far, nearly 1 million farming and herding households are classified as trustworthy, said Abudu.
Niyazi, who expects to sell his cotton crop for about 26,000 yuan, is eager to repay his loans.
"We see the red iron plates on neighbors' doors. We farmers are highly sensitive to our reputations. Who doesn't want a good credit rating?" he asked, adding: "Lads who don't have a red plate on their door, won't find a girlfriend in our village."
Source: Xinhua
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