Fourteen Chinese Open Border Cities Make Significant Achievements in Economic Construction
Xinhua News Agency report of February 12 from Beijing - The fourteen Chinese border cities that have been opened to foreigners achieved satisfactory results in their economic construction in 1995.
According to statistics, the cities achieved a combined gross domestic product of RMB19 billion last year, an increase of more than 90% over 1991 before their opening.
The State Council successively approved the opening of fourteen border cities to foreigners in 1992, including Heihe, Pingxiang, Hunchun, Yining and Ruili, and permitted them to set up 14 border economic cooperation zones.
Over the past three years, the cities have undergone rapid social and economic development, considerably enhancing their local economic strength. They achieved an average annual economic growth of 17%, higher than the national average.
According to the relevant sources, the 14 cities have stepped up their urban construction and the development and construction of the cooperation zones.
During the past three years, these border cities maded a combined investment of RMB12 billion in fixed assets and have changed the past situation of "no high buildings, no smooth roads, no bright lights, no clear water and no easy communication".
A total of 22.6 square kilometers of economic cooperation zones have been developed, attracting a total of 287 foreign-funded enterprises with an actual foreign investment of US$890 million.
In addition, there are some 5,100 domestic enterprises, with 175 industrial projects already put into operation.
"Golden Triangle" of the Yellow River Becomes a New Hot Spot for Investment
Xinhua News Agency report of February 7 from Taiyuan (by staff reporter Shan Baohong and Trainee Hu Jingguo) - The Fenglingdu Economic Development Zone, also known as the "Golden Triangle" of the Yellow River due to its location at the juncture of China's Shanxi, Shaanxi and Henan provinces, has increasingly drawn the attention of Chinese and foreign investors and become a new hot spot for investment.
The Fenglingdu Economic Development Zone is the only one in China that is built on the basis of a small town and serves as a new passage for inland Shanxi Province to establish contacts with the outside.
Through more than three years of construction, the development zone has begun to take shape and turned into a comprehensive wholesale market for lumber, medicinal herbs, tobacco, clothing, food and oil, and various industrial products.
At present, rows of buildings have been erected inside the development zone where many businessmen gather. A multi-purpose and modern shopping center - the Golden Triangle New Village - is in its closing stage of construction. Two-thousand lines of program-controlled telephones have been put into use. The 10KV power line is in normal operation. The development zone has attracted large groups of investors. More than 30 factories in the development zone, including a lemon factory, a perfumery and a special paint factory, offer a steady supply of products to the inland regions. The three newly-built orthopedic, gynaecologic and pediatric hosipitals are equipped with advanced facilities and have been opened to the public.
The rapidly emerging Golden Triangle has caught the attention of many overseas investors. By far, over 50 foreign banking syndicates and businesses from the United States, France, Japan, Korea, Taiwan and other countries and regions have been involved in negotiations for 31 projects, with a total investment of RMB320 million.
Township Enterprises in Southeastern Fujian Continue to Take the Lead in China
Xinhua News Agency report of March 10 from Fuzhou (by Reporter Xu Ting)- Southeastern Fujian is continuing its leading role in the development of township enterprises, which account for "the bulk" of Fujian's economy.
Last year, township enterprises in the five cities of Fuzhou, Xiamen, Quanzhou, Zhangzhou and Putian accounted for more than seventy percent of the economy in the province.
According to statistics from the Fujian Administration for Township Enterprises, the total output value of township enterprises in Fujian Province in 1995 had climbed to RMB238.15 billion, of which, industrial output value was RMB155.9 billion, with a profit of RMB10.9 billion for the whole year.
The GNP generated by township enterprises accounted for about one third of the GNP of Fujian Province.
During the Eighth Five-Year Plan Period (from 1991 to 1995), township enterprises in Fujian Province contributed an aggregate total of RMB18.56 billion in tax, and achieved a total of RMB105.5 billion worth of export commodities.
The province has now 11 township enterprises which are ranked among China's "best township enterprises for economic performance".
At present, a large number of township enterprises or township enterprise groups have emerged in Fujian Province, with a high content of science and technology, and a stronger momentum for further development.
Statistics show that of the 191 township enterprise groups which have been set up in the province, over 50 have reached above RMB100 million in output value, and some have even reached RMB500 million to RMB1 billion.
The Fuxing Investment Zone in Gushan Town of Fuzhou and the Qiaotou Industrial Area in Anhai of Jinjiang have both become the country's model communities for township enterprises.
Foreign Investment Increases in Jiangsu's Agriculture
Xinhua News Agency report of December 16 from Nanjing (by reporter Zhou Fang) - Foreign investment in agriculture is gradually increasing in Jiangsu Province.
At present, the number of agricultural projects with foreign direct investment in Jiangsu Province has reached eight, with a total investment of over US$800 million.
According to officials of the Jiangsu Provincial Agricultural and Forestry Bureau, from the year of 1994, the province's agricultural administrative departments have approved more than 500 foreign-funded enterprises, involving a total foreign investment of more than US$700 million, which are respectively three times and seven times higher than the figures of 1991.
The increase of investment has mainly come from the United States, Japan and Singapore. The new projects feature an increasing higher ratio of foreign investment. The number of wholly foreign owned enterprises has markedly increased.
The rapid increase of foreign investment has to a large extent made up the insufficient input in agriculture of Jiangsu Province and sped up the development and utilization of agricultural resources.
According to statistics, Jiangsu Province currently has more than 100 agricultural and side-product processing enterprises with an output value of more than RMB100 million.
Ruyi Group of Lianyungang, by using Japan's government loan and foreign direct investment, has developed into the biggest export-oriented vegetable processing and sales enterprise in China with a full variety of products.
Jiangsu also made use of foreign capital in introducing advanced manufacturing and processing technology and nearly one hundred types of quality breeds, vegetables and flowers such as beer-brewing wheat, California perch, Ross marsh shrimp, fine-breed chicken and lean swine. The level of agricultural production has been markedly improved.
Henan Province and Foreign Financial Institutions Hold Discussions on Economic Cooperation in Beijing
Xinhua News Agency report of December 16 from Beijing (by reporter Yu Haisheng) - Henan Province and over 100 representatives from 88 resident offices in Beijing of foreign financial institutions gathered here today for discussions on economic cooperation in order to promote mutual understanding between Henan Province and the international financial community and to explore financing channels for developing Henan's economy.
Chen Yuan, Vice Governor of the People's Bank of China, said in his congratulatory message to the meeting that the Chinese Government has decided to intensify development efforts in the central and western regions, will encourage more Chinese and foreign enterprises to invest in the central and western regions, and has decided to use more than 60% of all future foreign bank and government loans in these regions.
Mr. Kosiye, Chairman of the Foreign Financial Institutions Resident in Beijing and chief representative of General Bank of Belgium, Beijing Representative Office, said at the meeting that the foreign financial institutions resident in Beijing intend to make their due contributions to the economic construction of Henan Province and the development of China's central and western regions.
Li Yucheng, the Executive Vice Governor of Henan Province, gave an introduction to Henan's natural resources and economic development situation.
He said that Henan Province not only possesses the hardwares necessary for foreign investment, but also has, on the basis of the State policies and Henan's specific conditions, formulated its own preferential policies for encouraging foreign investment and development of foreign economic, trade and technological cooperation.
The relevant departments of the Henan Provincial Government announced the proposed economic and technological cooperation projects at the meeting and held discussions with the attending representatives regarding the intent of cooperation on the relevant projects.
China Sees 27% Increase in Utilization of Foreign Investment by November
Xinhua News Agency report of December 27 from Beijing - By November this year, the number of foreign investment projects approved by China and the amount of contractual foreign investment are both lower than in the corresponsidng periods last year. Nevertheless, the amount of paid-in foreign capital increased by 27.1% over the corresponding period last year.
Statistics provided today by the Ministry of Foreign Trade and Economic Cooperation showed that by November this year, the amount of paid-in foreign capital in China reached US$46.95 billion, which includes US$40.07 billion of direct foreign investment.
By November, China has granted approval to 18,640 foreign investment projects this year, down 15.34% compared with the corresponding period last year. The accumulated contractual foreign investment was US$48.462 billion, down 27.14%.
Of the newly-approved foreign investment enterprises, the number of Chinese-foreign equity and cooperative joint ventures fell marginally. However, the number of wholly foreign owned enterprises saw a 4.12% increase, totalling 8,484.
The amount of paid-in foreign investment also increased by more than 30% over the corresponding period last year.
By November this year, China granted approval to 13 new joint development projects while the number was 10 during the corresponding period last year.
The amouts of contractual foreign investment and paid-in foreign investment reached US$205 million and US$311 million respectively, representing an increase of 14.5% and 61.98% over the corresponding period last year.
Shantou High-tech and New-tech Development Area Receives Attention from Domestic and Overseas Investors
Xinhua News Agency report of December 20 from Shantou - Shantou High-tech and New-tech Development Area has attracted the attention from domestic and overseas investors as a result of its improved investment environment and good development trend.
Some American-Chinese scientists from the "Silicon Valley" who originally came from Chaochow have expressed their intent to invest in and establish high-tech industries in the Area. The President of Motorola China and the representatives from Ericsson have also visited the Area to discuss investment projects, while Taiwanese investors have indicated to fund software technology development companies in the Area.
At present, Shantou High-tech and New-tech Development Area has made an aggregate investment in the Area worth RMB1.8 billion. Factory buildings with a total area of 370,000 square meters have been completed, and ancillary infrastructure facilities including water, electricity, telecommunications and bonded warehouse have been completed and put into operation.
As of early November this year, the Area has accommodated a number of 177 projects, with a total investment amount of RMB6.4 billion, of which amount, 50% has come from foreign investors. Seven of the resident enterprises in the Area have accredited as State Level High-tech and New-tech Enterprises.
This year, the Area has achieved an aggregate industrial output value of RMB3.7 billion, and a total combined revenue of RMB4.55 billion from new technology, industry and foreign trade, with an export volume of US$127.47 million, and a realized profit tax worth RMB360 million.
At the same time, Shantou City has also formulated and published a dozen of regulations and policies as a measure to encourage the investment in and establishment of technology and knowledge intensified enterprises for high and new technology.
Foreign Trade Volume of Pudong New Area Will Top US$9 Billion This Year
Xinhua News Agency report of December 21 from Shanghai (by staff reporter Wu Yu and correspondent Pu Hai) - According to statistics provided by Shanghai Pudong Customs, Pudong New Area (including Waigaoqiao Bonded Zone) has by November this year recorded a total import and export volume of US$8.579 billion, an increase of nearly 25% over the corresponding period last year.
It is anticipated that the annual total foreign trade volume will exceed US$9 billion.
This year, Pudong New Area saw balanced and powerful increases in both import and export trade.
Processing trade underwent relatively rapid development. Over 200 State-owned enterprises in Pudong have engaged in the processing trade, gaining an equal share of the business with foreign-funded enterprises both in terms of the number of enterprises and the amount of contractual investment. Moreover, the mode of production and operation is changing from the simple processing of client-supplied materials to the deep and fine processing of high-technology and high value-added products.
According to the relevant sources, the foreign-funded enterprises in Pudong New Area recorded an import and export trade volume of 3.86 billion this year, marking an increase of 37.4% over the corresponding period last year and accouting for 45% of Pudong's total foreign trade volume. This is because some foreign-funded enterprises increased their import of equipment as equity investment and Pudong took the lead in China in opening its foreign trade business to foreign investment. Three Chinese-foreign equity joint venture trade companies have been established as a result.
In terms of the varieties of import and export commodities, mechinery and eletronic products took the lion's share of import goods, comprising mainly of computers, integrated circuits and micro-electronic components. Machinery and electronics, clothing and woven products topped the list among export products.
Japan remained the biggest trading partner, while the United States and Hong Kong came second and third.
Urban Construction Becomes New Hotspot for Foreign Investment in Qinghai
Xinhua News Agency report of December 21 from Xi'ning - Urban infrastructure facilities which used to be a threshold to foreign investment is now the new interest of foreign investors, and has become a new field for the utilization of foreign investment in Qinghai, subsequent to the exploitation of resources.
For long, Xi'ning has made insufficient investment in the construction of urban infrastructure facilities, with the total investment made being only about RMB400 million during the 46-year period between the founding of the New China to 1995. As a result, the backward and underdeveloped infrastructure facilities have restricted the city's economic development.
In the past few years, some foreign investors have expressed their wishes to get involved in the urban construction of Xi'ning.
In light of the situation, the Qinghai Provincial Government put forward the idea of commercialization of infrastructure facilities, and ratified early this year the Several Regulations of Xi'ning City to Encourage and Direct Foreign Investment.
Soon after the decision was announced that the right to road operation of the eastern exit of Xi'ning would be transferred on a charged basis, a dozen of foreign investors came up for discussions, and the bidding price was finalized at RMB50 million.
The Mo Jia Jie Old Urban Blocks Reconstruction Project designed according to modern city functions was undertaken solely by a Hong Kong investor in RMB50 million.
The Sixth Water Source Construction Project involved a foreign investment of US$20 million, with a water supply capacity of 150,000 tons per day, which will greatly relieve the tension in water supply in Xi'ning.
An agreement has been reached with Hong Kong Taihua Company for the construction of the north exit road of the city, with an estimate investment of RMB180 million. The southern express ring road project has also attracted several foreign investors for negotiations.
Over 300,00 Thousand Foreign Investment Enterprises Approved and Established in China
Xinhua News Agency report of December 25 from Beijing (by staff reporter Lu Yongjian) - By the end of November this year, an accumulated 302,464 foreign investment enterprises have been approved and established in China, according to latest news releases from the Ministry of Foreign Trade and Economic Cooperation.
The source said that of the more than 300,000 foreign investment enterprises, there are 182,059 Chinese-foreign equity joint venture enterprises, accounting for 60% of the total; there are 44,094 Chinese-foreign cooperative joint venture enterprises, accounting for 15%; and there are 76,161 wholly foreign owned enterprises, accounting for 25%.
At present, a diversified foreign investment utilization pattern has taken shape in China, with sources of capital covering more than 170 countries and regions.
By the end of September this year, the top-10 countries and regions making investment in China on the basis of their paid-in capital are: Hong Kong, Taiwan, Japan, the United States, Singapore, the Republic of Korea, Great Britain, Germany, Virgin Islands and France.
The total investment made by the top-10 countries and regions comprises more than 91% of the all foreign investment actually utilized in China.
Foreign investment in China comes mainly from Asian countries and regions, particularly Hong Kong, Taiwan, Japan, Korea and Asean countries and regions. Their investment total accounts for more than 85% of all foreign investment utilized by China.
Hong Kong remains the major source of foreign capital for Chinese mainland, providing more than 55% of all foreign investment actually made in China on a cumulative basis.
Nearly One Hundred Foreign-Funded Enterprises Become Bonded Factories in Tianjin Development Area
Xinhua News Agency report of December 27 from Tianjin - It was learned that the General Semi-Conductors (China) Co., Ltd and some other 20 foreign investment enterprises recently passed the appraisal conducted by the Tianjin Customs and became bonded factories that enjoy preferential customs policy.
Up till now, a total of 99 enterprises in the Tianjin Technological and Economic Development Area (TEDA) have become bonded factories.
It was learned that Tianjin Customs has worked actively during the past few years to align itself with the international practices in strengthening macro-management of enterprises, optimizing the Customs clearance environment, helping enterprises to improve their trading efficiency and promoting the bonded system.
As a new focus of the local economic growth, TEDA has seen rapid development in processing trade and has become home to 220 foreign-funded enterprises engaged in processing trade. The bonded factories now make up 41% of all enterprises in the TEDA and have formed a bonded factory system covering such fields as electronics, chemical industry, textile, communications and automobile making, and including such giants as Motorola, Samsung Electronics and Yamaha.
Officials of TEDA's Customs said that the practice of bonded factories helps lower trading cost and improve trade efficiency.
After General Semi-Conductors (China) Co., Ltd became a bonded factory, it has lowered its working capital requirements by US$500,000 on a daily basis.
According to the company, in the coming five years, the company will make an additional investment of US$90 million, with an anticipated annual output value of US$300 million.
High Economic Growth and Low Inflation Development Pattern Taking Shape in Gansu
Xinhua News Agency report of January 6 from Lanzhou (by staff reporter Sun Zhiping) - Gansu Province in the northwestern region of China showed a promising economic development trend last year, with a development pattern of "high growth and low inflation" gradually taking shape.
The provincial GDP of Gansu reached RMB78.13 billion in 1997, an increase of 8.3% over the previous year. The margin of retail price increase dropped to 1.8% from 6.6% in the previous year; and the margin of increase in consumer prices dropped to 3% from 19.8% in the previous year
Gansu Province has actively implemented the strategy of agricultural development by means of science and technology and promoted the application of such practical technologies and measures for increasing agricultural production as mulching, water-conservation irrigation and irrigation with collected rainwater. A good harvest was secured as a result. The annual grain production volume totaled 7.66 billion kilograms.
During the past year, 916,000 people in Gansu solved the problem of adequate food and clothing.
Last year, the large and medium-sized State-owned enterprise took a turn for the better in their operating results. As of October, their net losses were reduced by more than RMB50 million as compared with the corresponding period in the prior year.
The annual industrial added value increased by RMB28.71 billion, an increase of 10.3% over the year before.
At the same time, investment in fixed assets increased by 21% compared with the corresponding period the year before, totaling RMB26 billion.
Moreover, Gansu has got on the right track in opening to the outside world.
Its annual export volume reached US$400 million and import volume US$250 million.
The amount of foreign capital actually utilized during the past year reached US$260 million.
Gu Yongjiang Says That Mainland Economic Development Provides Five Big Opportunities for Hong Kong
Gu Yongjiang said that the economic development in the Chinese mainland provides five big opportunities for Hong Kong:
--- Favorable to Hong Kong's long-term economic prosperity and stability.
The mainland economy will grow steadily in the long term and Hong Kong's economy will benefit from the mainland economy which is full of vitality.
--- Providing more trade opportunities for Hong Kong.
With the gradual opening of the mainland's trade, finance and retail sectors, Hong Kong's service industry will have a bigger space for development.
--- Favorable to the consolidation of Hong Kong's status as a trade and shipping center.
By 2010, the total foreign trade volume of the Chinese mainland will reach US$800 billion, which will undoubtedly require more transit trade and transshipment via Hong Kong and will help consolidate Hong Kong's status as a trade and shipping center.
--- Further enhancing the development of Hong Kong's financial market.
With the deepening of reform of State-owned enterprises, more share-holding companies will be listed overseas, and Hong Kong will be the top choice for the State-owned enterprises to get publicly listed overseas.
This will help increase the scale of Hong Kong stocks, improve the structure of the stock market, enhance the development of Hong Kong's security market and attract more Chinese funds to Hong Kong. All these will help consolidate and strengthen Hong Kong's status as an international financial center.
--- Favorable for improving the competitiveness of Hong Kong products in the international market.
Through maintaining the mutual complementary economic relationship between the Chinese mainland and Hong Kong and utilizing their respective advantages, Hong Kong products will become more competitive in the international market.
Russian Prime Minister on Domestic Economy
Xinhua News Agency report of January 8 from Moscow - Russian Prime Minister Chernomyrdin said at a government meeting on the 8th that the major achievement Russia made in 1997 was to have created a fundamental basis for its economic growth.
According to reports from IGAR-Tass, Chernomyrdin said that as compared with 1996, the GDP in Russia last year increased by 1.2%, the industrial output increased by 3.2%, the retail sales volume increased by 3.9%, the annual inflation rate was 11%, half of that of 1996, and the residents income increased by 2.5%.
Chernomyrdin also pointed out that there were also many problems in Russia last year, such as the poor performance of taxation, investment plans yet to be completed, reduced surplus in foreign trade, and ineffective fiscal and financial measures taken by the government.
On the work for this year, Chernomyrdin said that new plans for structural reform and economic growth was being drafted, and would be submitted for deliberation at an enlarged government meeting to be held on February 26.
Based on the plan, the GDP in Russia next year is to increase by 2%, and the inflation rate is to go down to 5% to 8%.
Fujian To Make Great Efforts This Year to Promote Trade and Economic Cooperation between Fujian and Taiwan
Xinhua News Agency report of January 10 from Fuzhou (by staff reporter Xu Ting)- Fujian Province recently announced that the province will make greater effort this year to promote trade and economic cooperation between Taiwan and Fujian, further extend invitation for Taiwanese investment and strengthen contacts with large enterprises and syndicates in Taiwan in a bid to attract more Taiwanese businessmen to invest in Fujian, to promote trade with Taiwan and to carry out labor cooperation with Taiwan in the sector of fishery.
The relevant departments of Fujian Province have presently formulated new measures to further speed up the development of foreign trade, to deepen reforms of foreign trade enterprises, to maintain its steady growth of export and to continue increasing the utilization of foreign investment, which will be the major tasks of the province concerning foreign trade and economic cooperation for the year of 1998.
Fujian is among the most rapidly developing areas in coastal China.
Last year, the province recorded a foreign trade volume of nearly US$20 billion. The amount of foreign capital actually used exceeded US$4 billion. Foreign contracting projects and labor cooperation projects amounted to US$355 million.
It was learned that the new measures will focus on the development of large-scale business operations and forming of enterprise groups in order to push forward with the strategic reorganization of foreign trade enterprises subordinated to the provincial government. Efforts will be also made to increase export of products from pillar industries and to ensure success of the foreign business invitation fair and the '98 China investment and trade fair to be held in Hong Kong.
China To Continue to Implement the Policy of Opening its Financial Market
Xinhua News Agency report of January 16 from Beijing (by staff reporters Xu Xingtang and Qian Yuhong) - China will continue to implement the policy of opening to the outside world in the financial sector, said Dai Xianglong, Governor of the People's Bank of China.
Dai Xianglong emphasized at a news briefing today to both domestic and foreign journalists that China will not give up its policy to open its financial market despite the financial turbulence in some Southeast Asian countries.
He said that more foreign banks and insurance companies established subsidiaries in China last year and the number of foreign-funded operating financial institutions reached more than 170 by the end of the year.
The number of subsidiaries of foreign banks and insurance companies will be further increased appropriately in the future, consideration will be given to increase the number of foreign banks authorized to handle RMB business on a trial basis.
He also stressed that China will carry out more prudent administration with respect tot the conditions for foreign financial institutions, qualifications of their senior officers and the validity of their business operations when they apply to start business operations in China.
Since there has never been a timetable for achieving the convertibility of RMB for capital account items, there is no such issue as to the delay of this process due to the financial crisis in Southeast Asia, he said.
However, with respect to the opening of capital items, China will draw lessons from the financial crisis in Southeast Asia and take a more cautious approach, he said.
US Multinational Company to Open 300 Chain Supermarkets in Fujian
Xinhua News Agency report of January 16 from Xiamen (by staff reporter Yu Yingrui) - Two supermarkets named "Bei Shun" today opened to business here.
The opening marks the formal start-up of the Xiamen Fu Lan Pu Li Supermarket Co. Ltd., in which the large US multinational company, Pain & Safe has a 60% of shareholder interest.
The Xiamen Fu Lan Pu Li Supermarket Co. Ltd., as jointly invested by Pain & Safe International Holdings Co. Ltd. of the United States, the China Xiamen Overseas Supplies Corporation, and the Fei Li Global Inc. of the Philippines, is the first Chinese-foreign equity joint venture enterprise in Fujian Province in retail industry.
According to the agreement, the total investment of the project was approximately US$26 million, with the first installment to be US$10 million to open 20 model chain stores and a modern distribution center in Xiamen. Then, in light of the market expansion, a total number of 300 chain stores will be opened up in nine municipal cities in Fujian Province.
The stores are usually located in densely-populated residential areas, and cover an area of around 400 square meters, selling daily items, staple and non-staple foodstuffs closely related to the life of the residents.
Pain & Safe International Holdings Co. Ltd. of the United States is a large multinational food company, with a total annual sales volume exceeding US$2.1 billion.
China is relatively cautious in opening up its retail industry to foreign investment, and so far experimental operations have only been implemented in Beijing, Qingdao, Dalian, Guangzhou, Shenzhen, Wuhai and Shanghai. The plan of Pain & Safe International Holdings Co. Ltd. for the development of chain stores in China is a quite significant move of foreign investment in China's retail industry.
Finance Minister of Cote d'Ivoire Says That West African Economy Has Shown Obvious Recovery in Growth
Xinhua News Agency report of January 18 from Abidjan (by staff reporter Linghu Daocheng) - Economy and Finance Minister Engoran of Cote d'Ivoire said here on the 17th that the member countries of the West African Economic and Monetary Union have shown obvious recovery in economic growth, with major economic components in ideal conditions.
Engoran said at a seminar of economists held at the Cote d'Ivoire Businessmen Club that the member states of the West African Economic and Monetary Union recorded annual average growth rates of 5.9% in 1996 and 6.3% in 1997, marking an obvious recovery from 2.6% in 1994.
He said that the West African countries have in the past few years made great efforts in improving the situations of unbalanced import and export and of public investment, resulting in a marginal increase of trade surplus while considerably reducing their budgetary deficits, which only account for one third of their respective GDPs.
As to the effects on African francs caused by a unified European currency within the European Union, Engoran said that there is no need to worry about the future of African francs.
He said that the member countries of the West African Economic and Monetary Union have shown obvious recovery in their economic growth and there is no possibility that another marginal devaluation will occur to the African franc as in January of 1994 when the currency was devalued by 50%.
Chinese Insurance Regulatory Program Launched in Beijing
Xinhua News Agency report of January 21 from Beijing - A research program has recently been launched in Beijing with the aim of assisting the People's Bank of China to carry out supervision of the insurance regulations formulated by foreign-funded insurance institutions in China and to explore insurance standardization systems and measures.
The program is jointly sponsored by Royal & Sun Alliance Insurance Group TLC of Great Britain and Lincoln National Corporation of the United States and undertaken by Coopers & Lybrand of the US, with a total investment of US$1,400,000.
This insurance regulation program will conduct a systematic analysis of the regulations formulated by foreign-funded financial institutions in China and China's existing insurance regulatory provisions, make reference to advanced foreign experience and submit constructive proposals favorable to the development of China's insurance supervision and administration, and the perfection of regulatory laws and regulations.
Under the insurance regulation program launched this time, the researchers will carry out a deeper study on the basis of the existing regulations of the People's Bank of China on the supervision and regulation of foreign-funded insurance institutions and will dedicate to the strengthening of management over organizational structure and operating procedures, particularly the development of an early warning system.
It was learned that the new regulatory provisions will help perfect the  present regulatory system of foreign-funded insurance institutions in the Chinese market and assist the People's Bank of China in strengthening the regulation of the entire insurance market.
US Ambassador to China Calls on the US to Adopt Constructive China Policy
Xinhua New Agency report of March 6 from New York (by staff reporter Zhou Xisheng) - US Ambassador to China James Sasser called the United States to "adopt a continuous, reliable and constructive policy toward China in a strategic manner" and resolve the differences with China on certain issues through frank and comprehensive dialogue during his speech at the luncheon held on the 6th by the New York National Committee of US-Chinese Relations.
James Sasser pointed out that the US shall take a right attitude toward China's emergence on the international stage and that the US shall regard it as a major opportunity in its foreign policy to develop a steady and healthy relationship with China both in the end of this century and next century.
On the issues of protection of human rights and intellectual property rights, the Ambassador noted that China has made considerable progress in both areas.
He believed that the Chinese people now enjoy unprecedented freedom and democracy and that China has cooperated actively in the protection of intellectual property right, which the US shall not take no notice.
James Sasser also suggested that after China's entry into the World Trade Organization, the US Congress shall cancel its annual discussions on the issue of granting China the MFN status and grant the permanent MFN status to China.
He pointed out that the annual debate on this issue by the Congress will only be to the disadvantages of the US itself and affect the confidence of American businessmen to invest in China, thus causing negative effects on employment opportunities in the US.
China's Trade with Japan in Steady Increase
Xinhua News Agency report of March 9 from Beijing - Statistics published by the General Administration of Customs show that China's trade with Japan continued to grow last year. The total import and export volume reached US$60.6 billion, an increase of 4.5% over the year before and accounting for 20.7% of China's total foreign trade volume.
Of the total volume, export totaled US$30.88 billion while import amounted to US$29.18 billion.
China recorded a trade surplus of US$1.7 billion against Japan.
This is the fourth consecutive year that Japan has become China's No. 1 trading partner, and the bilateral trade volume last year was US$17.22 billion higher than the trade volume between China and its No.2 trading partner, the United States.
According to the relevant sources, the Chinese export products have become increasing dependent on the Japanese market, while the proportion of imports from Japan as against the total import volume of China fluctuate irregularly. The development of different types of trade patterns remained unbalanced. General trade decreased while processing trade increased; and trade of primary products saw relatively rapid development.
Last year, the export volume of primary products to Japan reached US$8 billion, an increase of 10.9% from the year before. The import volume of primary products was US$1 billion, an increase of 4.4%.
The foreign investment enterprises saw rapid increase in their trade with Japan.
Last year, foreign investment enterprises exported US$14.9 billion worth of products to Japan, an increase of 35.4% and accounting for 48% of China's total export to Japan, and their import volume totaled US$19.5 billion, an increase of 14.7% and accounting for 67% of China's total import from Japan.
Guangxi Utilizes US$150 Million of Foreign Capital in Construction of Transportation and Water Carriage Infrastructure Facilities
Xinhua News Agency report of March 14 from Nanning (by staff reporter Lu Hankui) - By far, Guangxi has utilized foreign loan of US$150 million from the World Bank, the Asian Bank and such countries as the Netherlands and the Republic of Korea in the construction of its transportation and water carriage infrastructure facilities.
In the past few years, the construction of passageways to sea ports has been stepped up in China's southwestern regions.
To make up the shortage of funds and to further open up the region, Guangxi has strengthened its efforts in introducing foreign capital.
The World Bank loan of US$80 million was utilized in the construction of the Phase II of the Xijiang Shipping Hub Project, with a total investment of over RMB2 billion. So far, 80% of the excavation work of the main project and 50% of the total concrete placing volume have been completed.
The Phase II project of Fangchenggang (including the expressway from Qinzhou to Fangchenggang) involved a loan of US$52 million from the Asian Development Bank. It is expected that the expressway will be ready for use by the latter half of this year.
A government loan of US$10 million from Korea was used in the construction of supporting facilities in Beihai Port.
Another government loan of US$10 million from the Netherlands was used in the construction of supporting facilities in Qinzhou Port.
These projects are going smoothly in their construction.
Foreign Cooperation Developing Rapidly in China's Building Materials Industry
Xinhua News Agency report of March 19 from Beijing (by staff reporter Li Jianmin) - The strengthening of foreign cooperation has been made as an important measure for the rapid development of China's building materials industry. The scope of utilization of foreign investment has been quickly expanded. By far, the industry has attracted a total foreign investment of US$5 billion.
A top official of the State Building Materials Bureau disclosed in an interview that a large group of cement production projects in Tongling of Anhui Province, Xiangxiang of Hunan Province and elsewhere, sponsored by China's building materials industry with loans from the World Bank and the Asian Development Bank, have been put into operation one after another.
Foreign investments are making their way rapidly into such areas of new types of building materials, high and new technologies, and deep processing of building materials.
The construction of a number of high-grade sanitary ware technological renovation projects are going smoothly in Shaanxi, Shandong, Guangdong, Jilin and Hunan with the utilization of a preferential export credit loan of US$100 million from Italy.
Most recently, bilateral cooperation agreements have been executed between the Chinese building materials industry and the government departments and multi-national companies of the Netherlands, Germany, Thailand, Greece, Australia, Japan, France and Denmark. The number of foreign partners has increased marginally.
Last year, China exported a historic high of US$2.1 billion worth of building material products of which cement export totaled 12 million tons, an increase of 46% over the previous year.
In addition, China has in the past few years introduced pre-decomposition kiln production lines in building such large-scale modern cement factories as Jidong, Ningguo, Huaihai and Liuzhou, increasing the annual cement production capacity by 22 million tons.
Foreign Invested Enterprises Become the New Area for Significant Growth in Shandong's National Economy
Xinhua News Agency report of April 2 from Jinan - With the continuous improvement of overall performance, foreign invested enterprises have become the new area for significant growth in Shandong's national economy.
Till now, there are more than 10,000 foreign invested enterprises in Shandong which have gone into operation. Last year, those enterprises achieved a total sales volume of RMB122.1 billion, with a realized profit of RMB5.3 billion.
According to information from the Provincial Foreign Economic and Trade Commission, foreign invested enterprises in Shandong in 1996 generated a total export volume of US$5.49 billion, accounting for 51% of the province's total export volume; the amount of foreign investment actually utilized throughout the province accounted for 14.7% of the fixed capital investment of the entire society; and the number of employees with foreign invested enterprises was 1.15 million, accounting for 10.9% of the total number of industrial employees in the province.
Due the continuous improvement of the investment environment, and the good performance of foreign invested enterprises, multinational companies are now making size investments in Shandong, following an experimental period.
Shandong Samsung Electronics and Telecommunications Co. Ltd. has made two additional investments, and is now one of the three major manufacturing bases of the Samsung Group of Korea in China.
Qingdao San Mei Electric Motors Co. Ltd., the largest exporting FIE in Shandong, has made five or six additional investments, in an aggregate amount of 90 million US dollars.
WTO-China Seminar on Service Trade To Be Held in Shanghai
Xinhua News Agency report of April 15 from Shanghai (by staff reporter Xia Ruge and Trainee Zhang Jiansong) - The "WTO-China Seminar on Service Trade" will be held in Shanghai on April 19 and Rugerro, director general of the World Trade Organization, will present at the seminar and give a special speech.
It was learned that the seminar will focus on the themes of how China's undertakings to open up its service trades in the WTO negotiations will cast impact on China's domestic market in such sectors as finance, insurance, sea and air transportation, consulting, retail sales, advertising, legal consulting and accounting, how competitive the different industries will be internationally and how the Chinese Government shall determine the opening degree of its service trade in the negotiations.
In addition, discussions will be held at the seminar regarding the establishment in the future of Chinese-foreign joint ventures in the field of foreign trade operations on a trial basis.
The two-day seminar is jointly sponsored by the WTO Shanghai Research Center and Shanghai Foreign Service Company Limited.
Also present at the seminar will be Long Yongtu, Vice Minister of China's Ministry of Foreign Trade and Economic Cooperation who will accompany Rugerro to Shanghai, and Shen Jueren, former chief negotiator of China in GATT negotiations.
Besides, some 200 officials from the local foreign economic and trade commissions of different provinces, executives of large enterprises, experts and scholars will attend the seminar.
China Utilizes World Bank Loans to Build a Railway Communications Network
Xinhua News Agency report of April 17 from Beijing (by staff reporter Qian Tong) - China's Ministry of Railway will build a special-purpose railway communications network covering the entire nation by utilizing railway project loans from the World Bank.
Following intense competition, Zhongyi International Bidding Company won the bid and will, together with China Electrical Appliances Import and Export Associated Company, provide program-controlled switchboard equipment with a total capacity of 220,000 lines to the Ministry of Railway, with a contract price of nearly US$20 million.
According to sources of the Ministry of Railways, the construction of the network is part of the nationwide railway hub communications reconstruction project.
Following the completion of construction, the network will make it more convenient for Chinese passengers and cargo owners, including those from Hong Kong and Macao, to check the railway operation situation via the network, to book passenger tickets or cargo space and to track cargo departure and arrival information.
During the recent years, China has started to make use of loans from international financial institutions to finance its infrastructure construction and make procurement through international bidding.
The procurement this time has complied with international practices and it is finally determined that the bid winner is China Electrical Appliances Import and Export Associated Company which is the sales agent of switchboard equipment manufactured by Bell Shanghai.
This also marks the first time that a major order is won by a domestic manufacturer in the field of switchboard equipment.
It was learned that the parties to the procurement contract have held their execution ceremony yesterday at the Beijing Diaoyutai State Guesthouse.
All equipment will be manufactured and installed within this year.
Dutch Trade Promotion Council Set Up Representative Office in Wuhan
Xinhua News Agency report of April 3 from Wuhan (by staff reporter Tang Weibin) - The Wuhan Representative Office of the Dutch Trade Promotion Council was officially set up recently in Wuhan.
This is the first representative office of the Dutch Trade Promotion Council in China.
It was learned that the major task of the Representative Office was to enable the Dutch government and businesses to timely follow up with economic development in Hubei, help Dutch businesses determine the possibility for trade and investment, and to assist Dutch businesses in communicating with the local enterprises and government entities and providing consultations.
Ambassador of the Netherlands to China, Oostra Ate said at the opening ceremony that Wuhan was chosen as the site of the representative office because of its excellent geographical location with convenient communications both on land and waterways.
Also, both the Dutch government and the industry believe that Hubei has great potential, and there may exist the possibility for cooperation between Hubei and the Netherlands in such areas as communications, infrastructure facilities, agriculture and energy.
As early as the 1980s, Philips, the Dutch multinational company, established its first joint venture enterprise with Wuhan, the Chang Fei Optical Fiber Co. Ltd.
The cooperation between the parties has been further expanded in the 1990s.
ABN AMRO Bank officially opened its Wuhan Office not long ago.
Vice-Governor of Hubei Province Meng Qingping said the establishment of the Wuhan Representative Office of the Dutch Trade Promotion Council marked the beginning of a new era for friendly relationship and economic and trade cooperation between the Dutch government and Dutch business circles and Wuhan Hubei.
It was hoped that such cooperative relationship would continue to develop, and produce fruitful results.
Chinese Enterprises Become Top Outside Investors in Macao
Xinhua News Agency report of April 3 from Macao (by staff reporters Wang Zhigen and Che Yuming) - The number of Chinese enterprises in Macao has reached over 200 with a combined asset value of over 90 billion Macao Dollars, said Zhang Xuming, president of the Macao Chinese Enterprises Association.
The Chinese enterprises have become the biggest outside investors in Macao.
Zhang Xuming said at the recent meeting to mark the 5th anniversary of the establishment of Macao Chinese Enterprises Association that the investing enterprises from the Chinese mainland have grown from small to big and from weak to strong, and have become a major force in Macao's economic sector.
They have made significant contributions to the prosperity and stability of Macao.
According to the relevant sources, these enterprises have been extensively engaged in business activities in such sectors of Macao as trade, industry, finance, insurance, tourism, food service, transportation and real estate.
The Chinese enterprises have taken a 50% share of the financial and insurance services, 50% to 70% of the tourism industry, 30% of Macao's import and export trade and 70% of its real estate business.
Zhang Xuming indicated that the Chinese enterprises in Macao will continue to abide by the "one state two systems" concept put forward by Deng Xiaoping and the various State policies and guidelines toward Hong Kong and Macao, stick to the principles of "action and nonaction", make joint efforts with the local business people, and make greater contribution to promoting the economic stability and social development of Macao.
US Admitted Hundreds of Deaths of Iraqi Civilians in Air Strike and UK Reporter Claimed the Target Being Definitely Non-military
Xinhua News Agency report of February 13 from Washington - The US White House admitted on the 13th that the air strike by the multinational air forces on Iraqi capital of Baghdad claimed hundreds of deaths of Iraqi civilians, but insisted that the target that was hit was for military purpose.
White House spokesman Fitswalter said the US government considered this "as really a tragic result".
But he condemned Iraqi President Saddam for keeping the civilians inside the military facilities, and left them at risk.
He said that the US considered the hit target was a command and control center of Iraqi troops.
The facility was "covered and disguised to escape from reconnaissance, but evidence showed that it was a military target".
Xinhua News Agency report of February 13 from London - BBC Correspondent in Iraqi Capital of Baghdad Bowen confirmed on the 13th that no indication had shown the shelter which was bombed by the US bombers was an Iraqi military bunker.
Such statement as made by Bowen in a BBC TV Newscast rejected the official saying of the US that the shelter was a disguised military bunker.  t
Bowen went to the bombed shelter for an on-site coverage, and about 400 civilians were killed.
France Opposes Revisions to UN Charter
Our staff reporter Lu Wangda reports from Paris on February 14 - French Foreign Minister Dima pointed out that France will not agree to the request for amending the US Constitution in order to reallocate the five permanent members of the US Security Council.
The French Foreign Minister made the above statement in a meeting of the Foreign Affairs Commission of the French National Congress.
Dima said that the United Nation was borne after the World War II and France, as other permanent members, was a victor.
As loser states, although Germany and Italy have now become democratic states, but is it adequate to just look back at the history regarding the past issues?
It was reported here that as economic giants, Germany and Japan have time and again requested to reallocate the permanent seats of the US Security Council.
German Foreign Minister Genscher spoke on the 11th that he hopes the unified Germany will play a bigger role in the United Nations and have a bigger say in UN decisions.
The French Foreign Minister stressed regarding this that such argument is "unrealistic", since the permanent seats of the US Security Council are set forth in the UN Constitution and the amendment of the UN Constitution requires the unanimous approval of the member states. France will not agree to any amendment of the UN Constitution.
Wangma "Opens" Its Computer Software Domestically and Donate Its Scientific Achievements to the People
Our staff reporter He Huangbiao reports on January 5 from Beijing - Wangma Computer Company, a high-tech enterprise in the Zhongguancun area of Beijing, announced on January 4 at a new briefing held at the Great Hall of the People that in order to meet the urgent need for office automation in various offices of the Party, the government and the army, the company has decided to "open" a software collection with a profitability potential of over RMB1 million for free use domestically. Any domestic computer user may freely copy and use the "Wangma Software Collection", all provided in non-coded form.
Wangma Computer Company had its name from the Chinese character encoding system --- the "Five-Stroke" entry method --- invented by well-known computer expert Wang Yongmin.
This easy and high-efficient entry method is popular with more than 85% of users nationwide and has become the leading Chinese entry technology in China.
However, with the rapid development of computer industry, more and more computer users have come to "queue up" for purchasing new versions of the "Five Stroke" system and Wangma's Chinese operating system.
To benefit the society, Wangma Computer Company firmly gives up the opportunity of otherwise making a big profit and offers the non-coded software to the users for their free copying.
The government officials, experts and users present at the news briefing all gave high remarks to the selfishless contribution made by Wangma Computer Company.
Zhejiang Wenzhou Sped Up Its Efforts to Repair the Dyke Damaged by Typhoon No. 17
Xinhua News Agency report of September 1 from Wenzhou (by staff reporter Hu Hongwei and correspondent Xie Yunting) - Reports from the Wenzhou Flood and Drought Control Command Center said the city was speeding up its efforts to repair the water conservancy project damaged by Typhoon No. 17.
As of August 30th, the city had allocated a labor force of 158,300 per day in the project, with the aggregate labor contribution amounting to 936,500, and had completed 730,000 cubic meters of earth and stone.
Typhoon No. 17 hit Wenzhou in the front, and damaged 862 kilometers of the city's dyke, of which 357.7 kilometers were fully destroyed.
Yet the spring tides on August 3 and 15 on Chinese lunar calendar are right at the corner, and new typhoon storms may also come up any time, leaving the city in great danger.
The local people have now taken an emergency action to repair the dyke and protect their homes.
Now there have been 991 emergency repair projects under the way, and large batches of materials for repair work, such as straw bags and woven bags, are also coming into Wenzhou from other parts of Zhejiang.
It is expected that a majority portion of the damaged dyke in the city will be repaired with earth for contingency purpose prior to August 3 on lunar Chinese calendar when the spring tide comes up.
It was learned that the Wenzhou city government has worked out plans to start an even larger project throughout the city for water conservancy construction in the coming winter and next spring.
Ding Hao Became China's First Disabled College Student Brought Up at an Orphanage
Xinhua News Agency report of September 1 from Hangzhou (by staff reporter Zhu Guoxian and trainee Guan Zhehui) - Disabled student Ding Hao became an orphan as a child and was brought up at the Hangzhou Children Welfare School, and recently he received the notice of enrollment from the Hangzhou University, as a student of the Department of Philosophy and Social Sciences.
It was learned that Ding Hao, who is 19 years old this year, was the first disabled orphan in new China who has been brought up at a welfare school and become a college student.
"How I wish I would jump up when I received the notice," said Ding Hao, but he was unable to "jump up" to express his excitement.
A high fever when he was three years old brought him serious sequelae of infantile paralysis, and was adopted by the Welfare School that year.
Ding Hao completed his primary school at the Children Welfare School, and then went to a nearby township middle school.
At the beginning, the teachers of the Welfare School took him to and from school, and from the second year he began to lodge at school. He went back to the Welfare School on Saturdays, and regardless of the weather, he was never absent from class.
He attended this year's college entrance examination, and was qualified and enrolled by Hangzhou University.
The success made by Ding Hao has combined the efforts from various sectors of the society.
The Children Welfare School has been taking care of him as always for the past sixteen years, and has spent more than RMB3,000 for him since last year to cover his tuition fees, learning materials and nutritious food.
Assistance has also been extended to him from various sectors of the society.
After learning about his enrollment by the university, Hangzhou Longchang Cereals and Oils Trading Company made a donation of RMB20,000 to support him going to college. Other entities, including the Artificial Limb Plant, donated him the wheel chair and crutches.
Students in Disaster Stricken Areas in Zhejiang Began Class as Scheduled
Xinhua News Agency report of September 2 from Hangzhou (by staff reporters Shen Haixiong and Shen Xiquan) - Typhoon No. 17 brought serious losses to the education system in the affected areas in Zhejiang, leaving around 1,500 classrooms and school facilities damaged or destroyed.
Owing to the anti-disaster and self-support efforts made by the governments and people in the affected areas, a majority of the primary and middle schools in those areas have now started class as scheduled.
Educational authority of Zhejiang Province recently dispatched working groups to Wenzhou, Taizhou and other areas to help restore the education system in the areas.
More than 20 cadres from the Wenzhou Education Commission were divided into seven groups and sent to Leqing, Ouhai, Dongtou, Pingyang and other areas to help repair the damaged schools and prepare for the new semester.
Education administrations in the affected cities, prefectures and counties have exempted or reduced the tuition fees or extended some assistances to those students whose families have been too much affected by the disaster to pay for their school.
School leaders and faculties in the affected areas have voluntarily started working ahead of schedule to clean up the campus, carry out hygienic and sterile activities, and repair the damaged classrooms.
The Wenzhou Education Commission and the Wenzhou Youth League Committee have jointly initiated a donation program for the affected schools among the faculty and student, and up till now the amount of donations from various parties has reached over one million RMB.
Bosnia-Herzegovina Serbs Hope to Hold Talks Regarding New Peace Plan
Xinhua News Agency report of August 31 from Belgrade (by staff reporter Wang Sen) - Krayishenik, Chairman of the Congress of Bosnia-Herzegovina "Serbian Republic", emphasized on August 31 during his talks published on the Voice of Serbia that after the territory division plan proposed by the Joint Liaison Group is rejected in the referendum, the Serbian leasers of Bosnia-Herzegovina "can only hope that talks will be held regarding the new territory division plan, or the new Bosnia-Herzegovina peace plan."
It was declared that in the referendum held on August 27 and 28 of all Bosnia-Herzegovina Serbs, over 90% voted against the Bosnia-Herzegovina territory division plan proposed by the international liaison group.
Krayishenik further explained in his talks that "our refusal to accept the territory division plan only means the refusal of a portion of the Bosnia-Herzegovina peace plan.
But the non-acceptance in the referendum of the territory division plan spells an end to the entire peace plan."
Regarding the relationship between Bosnia-Herzegovina Serbs and Yugoslavia, Krayishenik said, "The policy of the western countries is to split the Serbs. They have long been waiting for this day." But he added, "Our goal is to get all Serbs united."
Foreign Minister of Bosnia-Herzegovina "Serbian Republic" Buha said on the same day to AFP that "after the referendum is held among Bosnia-Herzegovina Serbs, all Serbs hope that the International Liaison Group will come up with a new proposal so as to avoid any dead end."
Chi Haotian Met with Tanzanian Defense Officials
Xinhua News Agency report of August 30 from Dares Salaam (by staff reporter Pei Shanqin) - Chinese State Councilor and Defense Minister Chi Haotian and Minister of Defense and National Service of Tanzania Keenana met here today to discuss how to enhance the cooperation between the two countries and the two armies, and reached a consensus on the above matters.
The two parties expressed their satisfactions over the friendly cooperation between the two armies in the past 30 years.
Chi Haotian said that China and Tanzania has maintained good relations since they established diplomatic ties 30 years ago, and the two countries have conducted productive cooperation in political, economic, military and cultural areas.
Keenana said that it is pleasing to see that such friendly cooperative relationship created by the older generation of leaders of the two countries, Nyerere and Mao Zedong and Zhou Enlai, has not only been carried on but also been further improved.
Keenana expressed gratitude to China for its great assistance to Tanzania in the past.
The parties both agreed that the two countries will further develop the cooperation in various fields between the two countries and two armies on the basis of equality and mutual benefit, in an effort to improve the friendly cooperation between the two countries to a new level.
Keenana hosted a grand troop reviewing ceremony before the meeting to welcome Chi Haotian and his entourage.
Chi Haotian and his entourage arrived here on the 29th to start a six-day friendly visit to Tanzania at the invitation of Keenana.
Irish Republican Army Declares Ceasefire
Xinhua News Agency report of August 31 from London (by staff reporter Li Wenhao) - The Irish Republican Army announced today that the organization will stop all military activities and implement "unconditional and indefinite" ceasefire beginning from this midnight.
The Irish Republican Army said in a statement to the British and Irish media that in consideration of the current situation and for purpose of promoting the Northern Irish peace process, the organization has made the above decision and has issued the notice to all of its subordinate troops.
The statement demanded the British government to face up to its own responsibilities, urged the relevant parties to face the new situation brought by the ceasefire in a determined and patient manner, and called for extensive talks involving the British and Irish governments and the major political parties of Northern Ireland in a bid to finally resolve the Northern Ireland conflicts.
The statement said that the ceasefire declared by the Irish Republican Army provides an opportunity for resolving the Northern Ireland issue in a "fair and permanent manner".
However, the Irish Republican Army restated that it will stick to its "goal of building a republic", that is the unification of the entire Irish Island.
In order to achieve unification of Northern Ireland and the Republic of Ireland, the Irish Republican Army have been engaged in violent actions for 25 years in Northern Ireland.
Fossils of Dinosaur Bones Found in Xixia of Henan
Xinhua News Agency report of April 23 from Zhengzhou (by staff reporter Liu Yaming) - The relevant experts and scholars recently found a large number of fossils of dinosaur bones in Yangcheng Township, Xixia County of Henan Province.
This is another major finding following the discovery of rare fossils of dinosaurian eggs in this area early last year.
It was learned from the Archaeological Research Institute of Henan Province, the relevant experts found fossils of hundreds of dinosaur bone pieces, including ribs and toe bones, in between two river gravel beds at the Hutou Mountain located in Yangcheng Township, Xixia County.
Many of the fossils are in broken pieces due to long-time exposure on the ground.
From the stratigraphic point of view, they all belong to the Cretaceous period.
According to the experts, there are a large amount of fossils of dinosaur bones and of other species beneath the dinosaur fossil zone.
They believed that the discovery of large quantities of rare dinosaurian eggs in the Xixia Basin is rarely seen in the world. It is even rarer to find fossils of dinosaurian eggs and dinosaur bones in the same place.
The finding is of great significance to the study of the dinosaur species in the Xixia area and the ecological and reproduction habits of dinosaurs in order to bring to life the ecological environment of the dinosaur age and to reveal the changes of the Earth's crust and the environmental evolution rules of the Earth.
The finding of dinosaur bone fossils provided an important clue for our further study of the distribution of dinosaur fossils and their burying rules.
China To Step Up Construction of Human Talents Market System
Xinhua New Agency report of September 1 from Beijing - The Ministry of Organization under the CPC Central Committee and the Ministry of Personnel recently issued a joint notice to strengthen the planning the human talent market construction, to step up the development of the talent market development and to promote the healthy development of the talent market.
It is pointed out in the notice that the overall goals for fostering and developing the talent market are: The individuals will be able to chose a profession on their own will; the employer units will have the right to select employees on their own will; supply and demand will be regulated by the market; social services will be perfected; social security will be improved; and under the macro-control of the State, the market will play a fundamental role in the deployment of human resources.
The short-term goals for fostering and developing the talent market are: to formulate basic policies and regulations within the next two to three years required for the operation of the human talent market; to commonly set up talent marketplace in large and medium-sized cities; to set up and develop local talent information networks; and to support the development of specialized talent market and the establishment of regional talent market.
Before the year 2000, a human talent market system will be preliminarily built across the country with complete functions, perfect mechanism, complementary regulations, timely guidance and good service.
The Ministry of Organization and the Ministry of Personnel asked the organizational and personnel departments of different levels to strengthen the construction and management of the human talent market, to strengthen research and planning concerning the talent market, to establish a general layout and implementation plan for the development of the talent market, to take into consideration the specific conditions of different places, to offer categorized guidance, and to gradually build a perfect human talent market system.
China Becomes a Major Eider Down Producer and Exporter
Xinhua New Agency report of September 1 from Beijing (by staff reporter Zhou Liang) - China's eider down and down products industry emerged quickly during the past decade and has now become a major component of the nation's light industry, with annual export volume and export value accounting for half of the world's total eider down trade volume. China's eider down and down products have been well received in the international market.
China's eider down and down products industry began its rapid development in the mid-1980s, when the industry saw significant improvement in both product quantity and quality by making use of China's advantages in its resources and human resources and by introduced advanced foreign technology and equipment.
According to incomplete statistics, China has more than 3,000 enterprises engaged in processing of eider down and related products, of which over 600 have reached scale production, with some 300,000 persons engaged in the business and an annual capacity of processing more than 50 million pieces of down products. The annual industry output value has reached RMB8 billion.
Through more than a decade of marketing effort, China has now become the world's major down producer and exporter of down products, with an annual export volume of nearly 30,000 tons and over 20 million pieces, reaping foreign exchange earnings of US$820 million. The export of down clothing makes up over 50% of the total export volume of the down industry.
It was said that the quality of China's down products has been steadily improving.
Random inspection of the 56 down clothing enterprises during the first half of this year shows that 47 of them or 84% had all their products pass the inspection.
In the course of market competition, a number of reputed brands have emerged, such as Yaya of Jiangxi Province, Yililan of Beijing, Gelanz of Guangdong Province and Tiange of Sichuang Province.
McLaren Holds Talks with Zou Jiahua
Xinhua New Agency report of April 22 from Toronto - Canadian International Trade Minister McLaren said during his talks with visiting Chinese Vice Premier Zou Jiahua here on April 22 that he had just been back from his China trip and is very much impressed with the rapid economic development in China.
He assured that Canada and China can become very good partners.
McLaren also restated his support for the resumption of China's status as a contracting party to GATT and for China to become a founding member of the World Trade Organization.
Zou Jiahua said that during the past few days of his visit, he has experienced the strong desire of both the Canadian government and people from different walks of life to strengthen cooperation with China and felt that the conditions are ready and the time is mature for the two countries to accelerate the development of bilateral relationship.
McLaren and Zou Jiahua meanwhile discussed about the prospects of Sino-Canadian trade and science and technology cooperation.
Both sides agreed that Sino-Canadian economic and trade relationship has seen relatively rapid development in the past few years, but it is far from enough compared with the actual needs and existing potentials of the two countries.
The two countries have great potential for expanding their cooperation in energy, transportation, hydroelectric power, communications and other infrastructure sectors.
The two sides held discussions over specific issues and reached extensive mutual agreement.
After the talks, McLaren hosted a banquet dinner for Zou Jiahua and his party.
Various Cambodian Parties Agree to Take Part in National Reconciliation Round-Table Conference
Xinhua News Agency report of April 23 from Phnom Penh (by staff reporters Xing Heping and Cai Ximei) - The relevant parties of Cambodia have agreed to take part in the round-table conference proposed by King Sihanouk regarding peace and national reconciliation of Cambodia, according to the relevant sources here.
This morning, the First Prime Minister of the Kingdom of Cambodia Norodom Ranariddh and Second Prime Minister Hun Sen met with the UN representative to Cambodia Benny Waydiono, who is newly appointed by the UN Secretary-General.
After the meeting, Waydiono and the spokesman of the Cambodian Council of Ministries told the reporters that the Chairman of the Cambodian People's Party and National Assembly Chairman Chea Sim, FUNCENPEC Chairman and First Prime Minister Ranariddh, Second Prime Minister Hun Sen and Chairman of the Union of Cambodians Democrats Khieu Samphan all expressed their willingness to participate in the round-table conference set for May 2 to 7 in Phnom Penh.
Sihanouk put forth this proposal in a statement made yesterday.
It was said that the two sides discussed about Cambodian political, economic and security issues at the meeting.
The two prime ministers of Cambodia asked the UN Secretary General to extend the UN representative's term of stay in Cambodia to six months or longer.
Waydiono said that he will convey the request to the UN Secretary General.
"Rare Stone of the Divine Land with Five Unique Features" Shown to the Public
Xinhua News Agency report of September 1 from Nanjing (by staff reporter Yuan Yanghe) - Professor Liu Yuyi, who once created a sensation in the arts circle with his renowned painting of "A Merry Eve", recently exhibited his collection of a Yuhua stone in Nanjing, which he called the "Rare Stone of the Divine Land with Five Unique Features".
The shape and size of the Yuhua stone are very similar to the auspicious Longevity Padlock.
The center of the Yuhua stone bears an image which very much resembles the territory of the People's Republic of China.
The image rises in both ends, sunken in the middle and protrudes in the lower right portion, just like a crowing cock standing upright; beside the "cock's" stomach and across a "strait" lies a narrow "Taiwan Island"; and below the "cock's" claws lies the round "Hainan Island".
The color of the two islands is identical with that of the "mainland".
The entire image is very similar to a Chinese map.
Professor Liu Yuyi said that he found this Yuhua stone five years ago along the road to a Yuhua stone processing plant. After careful study, he noticed the "Chinese territory" on the stone.
At the same time, he also found a huge dragon with a shining pearl in its mouth above the mainland territory and along China's northeastern, northern and northwestern borderlines. Above the giant dragon, there is a golden flare like a shoe-shaped gold ingot. In the middle of the mainland territory there are a series of torch-like stripes, a symbol of never-extinguishing fire of life of the Chinese nation. These features, together with the shape of the stone like a longevity padlock, add up to a total of five unique features with this stone.
Liu Yuyi thus called this stone the "Rare Stone of the Divine Land with Five Unique Features"
China, Thailand, Vietnam, Laos and Cambodia Strengthen Sub-Regional Economic Cooperation
Xinhua New Agency report of April 23 from Hanoi (by staff reporter Hu Suojin) - The six countries of China, Thailand, Vietnam, Laos and Cambodia will further strengthen their cooperation in such areas of transportation, energy, trade and investment, environmental protection, tourism and human resources development.
This is a mutual understanding reached by the delegates of the six nations at the Third Asian Development Bank Sub-Regional Economic Cooperation Conference concluded here today.
It is also determined at the Conference that transportation will be the focus of sub-regional cooperation.
Priority will be given to the two highways from Kunming to Ching Lai of Thailand and from Kunming to Lawu of Burma, and two railways from Yunnan to Vietnam and from Yunnan to Thailand.
The Conference is jointly organized by the Vietnamese Government and the Asian Development Bank.
Present at the Conference were government delegations from the above six countries and representatives from some international organizations and agencies.
The Asian Development Bank first made its proposal in 1992 to have China (Yunnan), Cambodia, Laos, Burma, Thailand and Vietnam to form a sub-region and carry out economic cooperation in various aspects within the sub-region. It also identified a group of cooperation and development projects of regional significance.
The inaugural and 2nd Asian Development Bank Sub-Regional Economic Cooperation Conference were held in October 1992 and August 1993 in Manila.
The World Bank Decides to Provide a US$2.5 Billion Aid to Palestine
Xinhua News Agency report of August 31 from Jerusalem (by staff reporter Huai Chengbo) - The Jerusalem Posts today cited Savel, director of the Israeli Foreign Ministry General Office now visiting in the US as saying that the World Bank has decided to offer a US$2.5 billion aid to Palestine before the end of 1994.
The decision has broken the ice between the donor countries and the Palestinian autonomous government, that has lasted for nearly a year.
At an international meeting held on October 1 last year in Washington in support of Palestinian autonomy, the donor nations guaranteed that they will offer a US$2.4 billion development aid within five years, of which US$750 million will be provided during the first year.
However, the donor nations claimed that there is a lack of necessary mechanism and accounting books for the handling of the aid fund in the Palestinian autonomous region. Therefore, they refused to fully fulfill this undertaking.
Savel said that although the US and the World Bank are not fully satisfied with the accounting work in Palestine, they have agreed to make a partial payment of this aid fund as soon as possible.
PLO Executive Chairman Arafat and other Palestinian leaders have always criticized that the donor nations have failed to fulfill their undertakings in making the aid funds available in a timely manner.
It is anticipated that PLO chief negotiator Shaarh and Israeli chief negotiator Rosschild will head for Washington and discuss with the US and the World Bank regarding the aid fund issue.
China and US Sign High-Tech Cooperation Agreements in Shanghai
Xinhua New Agency report of August 31 from Shanghai (by staff reporters Bai Guoliang and Xia Ruge) - The "Signing Ceremony for Sino-American High-Tech Cooperation Projects" was held today in Shanghai.
The ceremony this morning marks the signing of two projects involving knowledge and information network communications technology and DNA bio-technology. Meanwhile, a language teaching and exchange cooperation agreement was also executed at the ceremony.
The three projects were respectively executed by and among the Shanghai Branch of the International Technology and Economics Research Institute under the State Council Development Research Center, the Shanghai Pudong Continued Education Center, the Knowledge and Information Network Company of the US, the World Learning Organization and Hisec Corporation.
C.E. Mynett, Chairman of the Knowledge and Information Network Company, said that the Sino-American high-tech projects are of great significance.
He hopes that an electronic information expressway will be built between the United States and China such that transactions and information exchange between the New York Stock Exchange and Shanghai Stock Exchange can be realized at an earliest possible date.
World Learning Organization Chairman Judy Merro expressed her hope that a joint venture education institution can be set up in Shanghai by the end of this year.
According to the American parties, the three projects executed today won the care and support of American Secretary of Commerce Brown, who is in Shanghai for a visit.
Fei Xiaotong Awarded Magsaysay Prize
Xinhua New Agency report of August 31 from Manila (by staff reporter Xiong Changyi) - Fei Xiaotong, a well-known Chinese sociologist and the Vice Chairman of the National People's Congress Standing Committee, was awarded the 1994 Magsaysay "Community Leader" Prize here this afternoon.
The awarding ceremony was solemnly held at the Philippines Cultural Center.
The Philippines President Ramos attended the ceremony and handed out medals, prize money and certificates to the six outstanding persons as winners of this year's Magsaysay Prize.
"I will never let down the encouragement from our friendly neighboring country, regardless of the number of years still ahead for my disposal," said Fei Xiaotong in his thank-you speech. "I will conscientiously make full use of every minute and try my best to do something good for the interest of Asian people and people of the whole world, and to enable the accumulated human knowledge play a positive role in pushing the society toward a better future."
The Magsaysay Prize was named after the former Philippines President Ramon Magsaysay and is honored as Asia's Nobel Prize.
The Prize has five awards which are granted annually to the outstanding individuals and institutions in such fields of government service, public service, community leadership, news, literature and creative exchange art, and international understanding.
Since the inception of the Prize in 1958, a total of 172 individuals and 14 institutions have won the Prize.
Jiang Zemin Stresses on the Work of Militiamen and Reserve Duty
Xinhua New Agency report of September 1 from Beijing (by staff reporter Gai Yumin) - General Secretary of the CPC Central Committee, State President and Chaiman of the Central Military Committee Jiang Zemin stressed during his meeting at Zhongnanhai today with delegates to the National Militiamen and Reserve Duty Work Meeting that the local CPC committees, governments and military departments at different levels shall keep their sight on the general working situation of the entire CPC and the entire nation, and shall lay emphasis on the work related to militiamen and reserve duty.
Jiang Zemin pointed out that the militiamen are both civilians and army men and are an important force not only in safeguarding national security and maintaining national unification, but also in keeping social stability and promoting the construction of two civilizations.
The local CPC committees, governments and military departments at different levels shall fully mobilize the initiatives and creativity of the mass militiamen and officers and soldiers of reserve troops, making contribution in the course of deepening reforms, promoting development and maintaining stability.
All army units shall provide reliable security for such reforms, development and stability and shall actively participate in local economic construction and make effort for promoting the common prosperity of different nationalities.
Unity shall be strengthened between the military and the government and between the military and the people in such a manner as to breathe together, link their fate and be of one mind with the people of all the nationalities.
Liu Huaqing, Vice Chairman of the Central Military Commission, and members of the Commission Zhang Wannian, Yu Yongbo and Fu Quanyou as well as leaders of the three general departments of the PLA and the General Office of the Central Military Committee were also present at the meeting.
France Drawing Up Military Withdrawal Plan from Bosnia-Herzegovina
Xinhua New Agency report of September 1 from Paris (by staff reporter Zhang Youhao) - French Defense Minister Leotaire said on September 1 that France is preparing a military withdrawal plan from Bosnia-Herzegovina.
Leotaire made this statement in an interview here with a radio station in Paris.
He pointed out that the US proposal to list weapon sanction on Bosnia-Herzegovina means "the possible end of international assistance" and "the outbreak of serious and open conflicts", which will result in "the severe consequence of serious losses."
Leotaire said, "we cannot accept any lifting of the weapon sanctions imposed on Bosnia-Herzegovina when the security of the UN peace-keeping army cannot be guaranteed."
French Foreign Minister Jupe explicitly indicated last week that the lifting of sanctions shall be "conditioned upon the withdrawal of French Blue-Beret troops and all UN peace-keeping army."
Since the outbreak of Bosnia-Herzegovina conflict, France has sent an army of 4,000 officers and soldiers to Bosnia-Herzegovina.
France is the western country that has sent the largest number of Blue-Beret troops to the region.
US President Clinton said on August 10 that if the Serbs in Bosnia-Herzegovina do not accept the Five-Nation Peace Plan by October 15, he will request the UN to adopt a resolution to lift the weapon sanction against Bosnia-Herzegovina. If the Security Council fails to pass such a resolution, the US will unilaterally seek to lift such sanction against Bosnia-Herzegovina.
China and Kirghizia Signed 6 Documents
Xinhua News Agency report of April 23 from Pishpek (by staff reporters Ju Mengjun and Hu Xiaoguang) - The relevant persons in charge from China and Kirghizia singed six documents here today.
Premier Li Peng and Kirghiz President Arkayev attended the signing ceremony.
The six documents are: Agreement on Chinese Loans to Kirghiz Government, Agreement for Establishment of Sino-Kirghiz Inter-government Economic and Trade Commission, Exchange Notes on China's Donation of Goods to Kirghizia, Agreement on Sino-Kirghiz Cultural Cooperation, exchange of approval documents on the Consulate Treaty between the two countries and Agreement on Cooperation between China Council for the Promotion of International Trade and Kirghiz Chamber of Industry and Commerce.
After the signing ceremony, President Arkayev and Premier Li Peng answered the questions raised by the journalists.
Arkayev spoke highly of the result of his talks with Premier Li Peng.
He expressed that the visit by Premier Li Peng will promote peace, security and stability in the Middle Asia region.
He said that the newly-signed documents are very important to the strengthening of good neighborhood relationship and friendly cooperation between the two countries.
Premier Li Peng said that the visit has enhanced mutual friendship and understanding and has laid good foundation for further cooperation between China and Kirghizia.
He hoped that the Middle Asian region will maintain stability and development while continuously improving the living standard of its people.
Li Peng hopes that the Kirghiz media will extend the cordial greetings of the Chinese people to the Kirghiz people.
US Open Enters into Third Day
Xinhua News Agency report of September 1 from Beijing - According to foreign reports, the US Open Tennis Championship entered into the third day on August 31. Defending champion Sampras, back from an ankle injury that sidelined him for more than a month, scored an easy straight-set victory over his opponent and qualified for the second round of men's singles competition.
World No. 1 Sampras of the United States, away from competitions since mid-July due to injury, showed good form in this match and entered into the second round by crushing his South African opponent 6-2, 6-2 and 6-2 in less than one hour and 30 minutes.
Eighth seed A. Medvedev of Ukraine disposed his opponent 6-3, 6-4 and 6-0 for a spot in the second round.
The victory is a present for his 20th birthday.
In the women's competition, No. 2 seed Sanchez-Vicario of Spain faced a tough challenge from French player N. Tauziat but finally won 6-2 and 7-6 to enter into the third round.
No. 5 seed Kimiko Date of Japan, No. 9 seed M. Fernandez of the United States and 1990 US Open champion Sabatini of Argentina all breezed into the third round.
In a later development, American player Michael Chang won over his opponent 4-6, 6-2, 6-3 and 7-6 to qualify for the third round.
World Swimming Championships Lan Wei and Cheng Cheng Qualify for Second Round in 1-Meter Springboard
Xinhua News Agency report of September 1 from Rome (by Yang Aiguo and Huang Changrui) - The preliminary round of the men's 1-meter springboard competition got under way here this morning at the Seventh World Swimming Championships.
Chinese divers Lan Wei and Cheng Cheng both qualified for the second round.
In the preliminary round, 26-year-old Lan Wei from Guangdong Province preformed excellently and topped the competition with a total score of 355.35 points.
Cheng Cheng, a 19-year-old from Hubei Province, is currently ranked at sixth, with a total score of 342.60 points.
German diver B. Lizzo finished right behind Lan Wei, with a total mark of 355.02 points.
Zimbabwean S. Evan came third with a total score of 354.39 points.
Xu Yiming, head coach of the Chinese diving team, said after the competition that "Cheng Cheng was a bit nervous today."
"Our divers are not very adapted to competition under bright sunlight," he added.
"They train mostly indoors back in China.
It seems that they need more outdoor training."
He said that China has entered a number of new faces in the competition.
They still lack international experience.
The preliminary competition of the women's 10-meter platform will be held this afternoon.
World and Olympic champion Fu Mingxia from Hubei Province and World Cup winner Chi Bin from Hebei Province will compete for China.
Visiting Chinese Foreign Minister Tang Jiaxuan delivered a speech on US-China relations in a joint press conference on the 29th with US Secretary of State Albright.
Tang Jiaxuan also noted that President Clinton's sex scandal was an internal affair of the United States and that China will never forget President Clinton's contributions in promoting Sino-American friendship.
Following is the report by VOA correspondent Zhou Youkang from the press conference:
Dear Listeners: US President Clinton met with visiting Chinese Foreign Minister Tang Jiaxuan at the White House at 11:30 am on September 29.
US Secretary of State Albright announced the meeting between President Clinton and Tang Jiaxuan in the joint press conference held at noon by Foreign Minister Tang Jiaxuan and the US State Department.
Albright said
I'm very glad to tell you that just now Foreign Minister Tang and President Clinton held a meeting and they announced that China will sign the International Convention on Civil and Political Rights on October 5 in New York.
Chinese Foreign Minister Tang Jiaxuan said at the press conference that the meeting with Clinton was of profound significance.
His Excellence President Clinton met with me and I think the meeting is fruitful.
Now President Clinton is in great trouble, some Americans have expressed their strong complaints and criticism over his sex scandal.
Some want to impeach him or expect him to step down. Even some Democratic congressmen want to make a clean break with him.
However, Chinese Foreign Minister didn't avoid this and spoke highly of President Clinton's contribution to the promotion of Sino-US relations.
At the Press Conference, asked if President Clinton's sex scandal will affect Sino-US relations,
Tang Jiaxuan said:
I think this is absolutely an internal affair of the United States.
I never think this will bring any effect to the development of China relations.
President Clinton has made valuable contributions to the development of Sino-American relations and we will never forget that.
Personally, I sincerely hope that the Sino-US relations will move forward in a tangible and stable manner based on the three communiqu?s of the two countries and the joint declaration of the two leaders this time.
The Chinese government has restated that Taiwan is one of its provinces and the Taiwan issue is an internal affair of China.
Chinese Foreign Minister Tang Jiaxuan talked about the Taiwan issue publicly several times in the UN General Assembly and during his visit to Washington.
Asked about what is the largest barrier to the Sino-US strategic partnership, Tang Jiaxuan said:
I have repeated several times in this regard that special attention must be paid to the proper handling of the Taiwan issue.
Because the Taiwan issue is the most sensitive and the most realistic issue in Sino-US relations.
Millions of people across Russia held demonstrations against President Yeltsin, demanding the government to pay the delayed salaries.
However, the actual number of demonstrators was much lower than 40 million as anticipated by the organizers.
A small of number of demonstrators gathered outside the Kremlin, waving Communist Party flags.
In the Siberian city of Krasnojarsk, Lebed, who was likely to be elected President, delivered a speech to the mass rally.
He said investors from Russia and Western countries were losing their patience for the real economic reforms.
Israeli Prime Minister Netanyahu has named Sharon, the number one hard-liner in the government, the Foreign Minister.
The appointment came right before a summit meeting in the United States between the Palestinian and Israeli leaders on a temporary peace agreement.
Under the agreement, Israel will hand over more land in the West Bank to the Palestinians.
Sharon firmly advocates to establish Jewish settlements in the West Bank and opposes compromises on the issue of troop withdrawal.
Afghanistan's Taliban militia returned the bodies of another three Iranian diplomats killed by them to Iran on Sunday, which was seen as a move that the Taliban was trying to ease tensions with Iran.
Iran has so far deployed over 200,000 troops along its border with Afghanistan.
The three bodies were flied to the Iranian city of Mashhard. Last month, six bodies of Iranians killed in Marzar-e-Sharif were brought there.
Also on Sunday, the Taliban ordered the release of another 10 Iranians captured this August following the fall of Marzar-e-Sharif.
The British Supreme Court resumed a hearing on Thursday to decide whether former Chilean dictator Pinochet would be extradited to Spain to face charges of crimes against humanity.
On Wednesday, five prosecutors from the British Upper House began to hold a hearing on an appeal by a lower court.
The lower court said Pinochet, who is retired, enjoys diplomatic immunity. However, the prosecutors held that diplomatic immunity doesn't apply to genocide, abuse and terrorism.
The hearing is expected to last two days.
Nicaraguan ambassador to the United States Sacasar has called on the creditor nations to reduce the debts of Central American countries and to provide large amount of aid for their recovery from the damages caused by Hurricane Michelle.
In a televised speech, Sacasar said the reconstruction of Nicaragua needs about one billion US dollars. He also urged the United States and other creditor nations to draft an economic aid package similar to the Marshall Plan which helped the reconstruction of western Europe after the Second World War.
Delegates attending the UN Conference on World Climate continue their work in the Argentine capital of Buenos Aires.
Meanwhile, the US Congress is discussing whether or not to approve the Protocol reached in the Kyoto Conference in Japan.
Another report filed by VOA correspondent Fulekus from Buenos Aires says several US Congressmen have brought the debate to the meeting hall of Buenos Aires on Tuesday.
Here is the detailed report read by Ma Kaiyue:
US Democratic Senators Liberman and Kley announced their statement on Tuesday in Buenos Aires, urging the Clinton Administration to ratify the Protocol this week, which was reached at the Kyoto Conference.
The two Senators said this will make US delegates more convincing in getting developing countries to promise to reduce emission of greenhouse gases.
This is actually a precondition set for several bills in the Senate.
However, some US Congressmen in Buenos Aires said they opposed any such actions taken by the Clinton Administration.
Chairman of the House Science Committee, Wisconsin Republican S.S. Brunne said the Kyoto Protocol is sure to be vetoed in the Senate due to its fatal defects.
He said:
Congressman S.S. Brunne said that just as the Protocol is being put aside right now, it would have become defunct before getting to the Senate, and the US Senate will not approve the Protocol.
The question is what we should do now.
Shall we try to save it or to declare that the Protocol has fatal defects and we need to hold another discussion.
Congressman S.S. Brunne said this is not a Party struggle in the Senate and the Congress, which was echoed by several prominent Democratic Congress members.
Pennsylvanian Democratic Congressman Kellink said he was opposed to the Protocol because it would reduce the employment rate and the degree of US industrialization.
However, Ohio Democratic Congressman Kuczyn disagreed with S.S. Brunne. He compared the fight against global warming with the struggle for world peace.
He said the same resolution will make the Kyoto Protocol a success.
He said:
Congressman Kuczyn said, I hope this process to go on and at the same time we cannot ignore the necessity of reaching a global solution simply because of the stubbornness of one Congressman, with or without the US participation.
In the main meeting hall of Buenos Aires, delegates are discussing various topics, some of which will most probably be left to energy and environmental ministers of 160 attending countries to settle during Wednesday's meeting.
US delegates said the conference has made headway though some issues, although some issues most concerned for by the US Congress will probably be left for settlement till next year's conference.
Six Gulf Arab states along with Syria and Egypt called on Iraq to comply with the relevant UN resolutions on weapons inspection in order to avoid confrontations which they said would only hurt the Iraqi civilians.
The White House welcomed the statement and viewed it as another evidence that Iraqi leader Saddam Hussein is facing isolation in the world. However, most Iraqis don't care about the possible US-led air strikes.
The London-based Tibetan Information Network said one of the most respected Tibetan religious leaders, Arja Renboche, had fled to the United States in protest of China's policy towards Tibet.
The Tibetan Information Network said that Arja Renboche seemed to be indignant at Beijing's attempt to carry out monastery reforms in the chaotic Tibetan region and its refusal to accept the reincarnated soul boy, or the future Panchen Lama, designated by the Dalai Lama.
However, the Tibetan Information Network said it was not clear if Arja Renboche plans to seek asylum in the United States.
A US arms control delegation, which is in Beijing for talks to accelerate the process for China to join the missile technology control agreement, said China may still be exporting missile technology to other countries.
Following is the summary report by VOA correspondent Fang Yuan:
A US delegation led by acting Under Secretary of State Holem held a one and a half day talks in Beijing with Chinese Foreign Minister Tang Jiaxuan, Deputy Chief of Joint Staff Xiong Guangkai and some other Chinese arms control experts regarding China's participation in the missile technology control agreement.
The meeting concentrated on how to materialize Chinese President Jiang Zemin's promise made in June when President Clinton paid a visit to China.
Jiang Zemin promised at that time that China would consider joining the missile technology control agreement, which was seen as one of the major achievements in the China-US summit meeting.
One member of the US delegation told AP that the US side suspected that China was still exporting missile parts or missile technology and that Pakistan and Iran were two beneficiaries of China's missile technology export.
The official said the US side continued to raise the issue to China and he believed that China was taking measures to resolve these issues.
China's export of missile technology has remained an issue which often causes frictions in US-China relations.
Following the nuclear tests earlier this year by both India and Pakistan, the two arch rivals in the South Asian Subcontinent, the United States felt that it needs China in particular to make an undertaking regarding the control of missile technology transfer, because Pakistan, one of the nuclear contestants in the South Asian Subcontinent, is a long-time ally of China.
As early as in 1993, the United States had imposed sanctions on China for its export of missile parts and technology to Pakistan. China only, the United States only lifted the sanctions in 1994 when China promised to stop its export of surface-to-surface missiles.
The United States also worries that the missile trade between China and Iran will pose serious threats to US allies in the Middle East and its own interests.
However, the official who disclosed the above declined to elaborate what kind of missile technology is being exported and when China provided such technology to Pakistan and Iran.
He said there was not enough evidence that China did provide missile technology to the two countries.
In the past, when the United States gathered evidence that China exported missile technology to the above two nations, China either denied the report or insisted it provided dual-use technology and only for peaceful purposes.
So far, the Chinese side has not responded publicly to the remarks made by the US delegation official.
According to another AP report from Beijing, Washington has confirmed that it was North Korea rather than China which helped Pakistan to develop the "Korea" missile which was launched in April.
Above is the summary report by VOA correspondent Fang Yuan.
In weather, we know the consequences resulted from the El Nino Phenomenon, including the persistent big fires in Indonesia, the floods in the desert regions of Peru and the extensive abnormality of regional weathers around the world.
In the United States, California and other southern states were flooded at the beginning of this year, followed by a drought in many places in the south.
Experts say the El Nino is becoming a new phenomenon called the La Nina.
Moreover, La Nina will bring surprising consequences worse than the El Nino Phenomenon.
Following is the report from Chicago by VOA correspondent Li Lan, read by Qi Zhifeng:
Chicago, which usually has freezing winters, witnessed warmer weather and less snow last year and the next winter is likely to be the same.
Meanwhile, El Nino was rampant in Southeast Asia with a drastic decrease of precipitation, causing wild fire that has lasted for weeks and been out of control.
The El Nino and La Nina are the results of drastic temperature changes in the eastern Pacific Ocean.
El Nino refers to the above-average temperatures of the water's surface, which affects the air current causing changes of world weather.
La Nina refers to the below-average temperature of the tropical Pacific Ocean's surface, which has the opposite influences on the weathers of many places.
Larve, an expert with the U.S. Meteorological Bureau, said that big fires in Indonesia will not go out of control next year because the region is predicted to see more rain from this December to next March compared with the previous years.
Meanwhile, western and southeastern Africa will see lower temperatures and there will be more rain in the northern part of South America.
The southern part of the United States will be drier, which means Taxes and New Mexico will experience persistent drought while there are more chances of fire taking place in the forests of Florida.
The torrential rain this year in California and its southern part is attributed to the El Nino.
Larve said the El Nino will not result in rainstorms but will contribute to the forming of them.
The past summer was one of the hottest in the history of the United States.
Some people link the world warming to the El Nino Phenomenon.
Larve believes that it is possible but there has been no evidence so far.
However, whatever the reason is, the upcoming winter in the north and central west will be much colder and will see more snow.
Meanwhile, the Chinese and local Indonesians guarded their houses side by side around the China Town in the Indonesian capital of Jakarta.
China Town was attacked again since the bitter riot in May.
VOA correspondent Grant files another report from Jakarta:
When the night fell, the soldiers fired warning shots to disperse young people who were throwing stones at them.
Several hours ago, thousands of people set fire to a bank less than one kilometer away from the Presidential Palace. The fire quickly spread to nearby stores.
The group of young people rammed open the doors of shops with a pole of a street lamp.
In Saturday's attack on the Chinese, a group of people dragged a Chinese to the street to beat and then threw him to a ditch.
The severely wounded man was later rescued by an armored carrier.
Tanks patrolled along the street littered with stones and broken glass, with thousands of troops armed with guns and tear gas bombs guarding commercial districts to keep away rioters.
Business people selling electrical products were forced to move away their stores following the riot in May.
Reporters saw a 29-year-old young man named Min, in shorts and with a belt, guarding behind a barbed wire road block.
The young man, who worked in a computer company, said he and his Muslim neighbors guarded there all night to ward off robbers from their houses.
Mr. Min said his neighbors made the barbed wire after the riot in May but they didn't expect to use it so soon.
In some blockaded places, local residents drove away groups of strangers with big sticks.
One resident called Dahiryart wore a typical Muslim hat and a Sarong.
He told reporters that most of the robbers came outside of the China Town after hearing about the riot.
The mob destroyed a subway station a kilometer away. When the army chased them they fled with shoes, computers and coat hangers littered all the way.
The Hague-based International Tribunal has ruled that three defendants were guilty of committing war crimes against Bosnian Serbs. However, their senior commander has been acquitted on the charge.
According to the ruling of the International Tribunal, Bosnian Muslim Firallic was not responsible for the atrocity committed against the Serbian prisoners of war in the Zerabic Camp.
The other three defendants were sentenced to prison terms for their roles in what people said the cruel rule in the camp.
Dear listeners, let's take a look at the situation in China.
The Chinese government has arrested several dissidents in an effort to foil a meeting of some members of the Chinese Democratic Party from Zhejiang and Shanghai.
VOA Chinese Service files the report read by Qing Yue:
According to sources inside the Hong Kong-based China Human Rights and Democratic Movement Information Center, police in Hangzhou took away two members of the Chinese Democratic Party, Zhu Zhengming and Mao Qingxiang, from their homes on Friday afternoon.
So far, their whereabouts are unknown.
Earlier, police arrested four other key civil rights members closely associated with the Chinese Democratic Party. They are Yao Zhengxian, Li Guotao, Wu Yilong and Wang Rongqing.
China Human Rights and Democratic Movement Information Center said about 20 members from the Zhejiang and Shanghai branches of the Chinese Democratic Party were originally scheduled to hold their inaugural meeting on Friday afternoon in a hotel in Hangzhou.
Police then made several arrests against the gathering.
In addition, police in Zhejiang have warned pro-democracy activists to stay at home or they may be arrested.
The Chinese government considers the opposition Chinese Democratic Party as an illegal organization. It has arrested and interrogated scores of supporters and activists of the organization.
However, they were released soon in most occasions.
AP, Reuters and AFP have respectively reported the latest news released by the China Human Rights and Democratic Movement Information Center.
Palestinian leader Yasser Arafat started his first official flight from the Gaza International Airport.
The Gaza International Airport was put into operation a day earlier.
On Wednesday, Israeli security officials saw Arafat's plane off, which was destined for Paris.
Israeli officials are responsible for airport security.
The Land for Peace Agreement reached recently by the Israelis and Palestinians has paved the way for the use of the Gaza International Airport.
The Palestinians consider the airport as a symbol of their sovereignty and a boost to the Palestinian economy.
On the World AIDS Day, US President Clinton promised to provide new financial aid, including more research funds to curb the deadly disease.
Clinton plans to increase the funds for AIDS research by 30%.
He is also to announce an $10 million aid to orphans caused by AIDS.
The Clinton Administration indicated that this will be the largest package of investment for AIDS research provided by the US Public Funds.
Next, let's first take a look at Canada.
Canadian Foreign Trade Minister Marchi said Canada should export its values while exporting goods in order to improve the human rights situations in China and other Asian countries.
Marchi made the remarks in response to a suggestion by the Foreign Relations Committee of the Canadian Parliament that trade should be linked to human rights.
Following is the report by VOA correspondent Yan Ming from Toronto.
Canadian Foreign Trade Minister Marchi offered a positive response to a suggestion in a report by the Senate's Foreign Relations Committee of Canadian Parliament that trade should be linked to human rights.
Marchi said Canada should add human rights as a new factor to its foreign trade policy.
Ottawa Citizen reports that Canadian Foreign Trade Minister Marchi made the remarks on Thursday in a meeting on foreign policy and trade held in Ottawa.
Marchi said what he saw in Malaysia during the APEC Summit Meeting and the arrests of dissidents by Chinese authority had made him firmly believe that Canada should export its goods together with its values.
Human Rights and social justice should become an important part of Canada's foreign trade policy.
Canadian News Agency reported that the report by the Foreign Relations Committee of Canada's Parliament suggests that the Canadian government review various foreign aid projects in order to improve the human rights conditions of the recipient countries while helping to develop their economies.
The National Post said that all signs indicated that the Canadian government is trying to adjust its foreign policy towards Asian countries including China. And the report of the Senate Foreign Relations Committee is only one of those signs.
On Thursday, Canadian Foreign Minster Axworthy said Canada had expressed its great concern over the arrests of dissidents in China.
He said we must respond to the incident.
We have told the Chinese government that the apprehension of dissidents violates the UN Convention of Civil and Political Rights China has signed.
The Canadian News Agency reported that Canadian Prime Minister Chretien has as a matter of fact criticized China's human rights records several times in public occasions during his visit to China last month, marking changes from his practice for over two years of not making public criticisms over China.
The unusual move by the Canadian Prime Minister has in fact indicated some changes in Canada's foreign policy.
The National Post reported that the Canadian business people are divided over the linkage between trade and human rights.
Some people worry that this will affect the business of large-sized Canadian enterprises.
However, Dr. Zhu Yuchao from Auknagon University in Canada's British Colombia Province expressed different opinions.
For capital from North America, one of the most important reasons why such capital is being moved to East Asia for investment, opening factories or doing business is to make money and make profits.
While they enter into these countries, they can bring some standards, for example labor protection, labor welfare and benefits, environmental protection requirements, to those countries. This is bilateral.
These people can set examples and they can have direct influence over the improvement of local human rights conditions and the protection of employees.
Above is the report by VOA correspondent Yan Ming from Toronto.
The United States and North Korea are scheduled to hold talks on Friday regarding US access to a suspected underground nuclear site in the vicinity of Pyongyang.
Representatives from both sides will first hold a two-day talks in New York and then move to Washington to continue their talks.
The two sides held similar talks last month in Pyongyang.
The meeting broke up due to a demand raised by North Korea.
North Korea demanded 300 million US Dollars in return for the inspectors' access to all the relevant sites.
Before the new round of talks, North Korea launched a series of verbal attacks against the United States.
Minister of China's State Economic and Trade Commission, Sheng Huaren, said the Chinese army and other governmental institutions will soon fully break off ties with their subordinate enterprises.
The resolution seems much firmer this time though the Chinese government has issued such orders several times before.
Following is the report by VOA correspondent Ning Xin:
Minister of China's State Economic and Trade Commission, Sheng Huaren, said the Chinese army will fully break ties with its subordinate businesses before December 20.
Other Party, governmental and law enforcement authorities must take similar actions beginning from the start of next year.
In July, Chinese President Jiang Zemin ordered the army and the armed police to stop running enterprises, hotels or other businesses to curb the increasing corruption and smuggling within the army.
Sheng Huaren said so far, some businesses in Shanghai and Tianjin had been put under the control to local governments. However, he did not say whether the army would be compensated.
Apart from the army, all Party, governmental and law enforcement authorities were also ordered not to run any subordinate businesses.
Chinese state-owned enterprises have over 100 million workers. Some of the enterprises are actually on the verge of bankruptcy due to bad debts and sluggish export markets caused by the global economic crisis.
Sheng Huaren said many overstaffed State-owned enterprises, which employ ten times as many personnel as they need, incurred greater losses during the past year.
This shows that it is an urgent task to strengthen their market competitiveness.
In addition, analysts say corruption and mismanagement are rampant in governmental in charge of State-owned enterprises and law enforcement departments.
It is very common for many officials, who act as regulators of an industry, to operate business in the same sector.
Therefore, they can provide contracts, loans and favorable taxes to the businesses with their influences.
This phenomenon undermines fair market competition and hampers China's transformation from a planned economy to a market one.
It is reported that a newly-established committee under the State Council will take charge of over 500 largest former state-owned enterprises affiliated to the Party, governmental and law enforcement authorities. Their employees will be arranged by personnel departments.
Local governments will take charge of the smaller-sized businesses.
In addition, financial and investment companies will be controlled by the Ministry of Finance.
It is not clear now if these changes mean that the government will reduce its loans provided to the state-owned enterprises, causing some large-sized enterprises to gradually go bankrupt.
Some analysts believe that due to worries about the social instability caused by high unemployment rate, China is likely to deal with the problem of enterprises suffering losses by merger rather than bankruptcy.
Above is the summary report by VOA correspondent Ning Xin.
The Russian Duma, or the lower House, is set to debate on whether to unilaterally lift the sanctions on Iraq in response to the US and British air strikes against Iraq.
The Duma is considering to resume political and economic cooperation with Iraq in defiance of the 8-year-long UN embargo imposed on the country.
Earlier, Russia called back its ambassadors to the United States and Britain in protest of their military actions against Iraq.
The United Nations Latin American and Caribbean Economic Committee predicted that the region's rate of economic growth will go down to 1% next year.
However, the UN body also admitted that the situation may be worse.
Following is the report by VOA South American correspondent Meek, read by Tian Ye:
According to the preliminary survey conducted by the United Nations Economic Committee, the Latin American and Caribbean region will witness an economic growth of 2.3% this year, a drastic slump compared with 5.2% of last year.
The figure might be even lower if it was not due to the strong economic performance in the first half of the year.
The Committee said the region's economic performance is relatively good despite external shocks.
However, the worst effects have surfaced now and will last until next year.
The UN Economic Committee said the economic difficulty in Brazil has been reflected in the countries of the southern cone region.
These countries were for a large part affected by the low prices of their major export products.
The Committee said most countries chose to raise interest rates to protect their currencies.
This measure has curbed economic growth and caused the rising of unemployment rate.
The report said if these countries expect to keep stronger marketing competitiveness through devaluating their currencies, they will take the risks of intensifying inflation......
Ground controllers of a hot-air balloon, on a non-stop tour around the world, said the three pilots are expected to fly out of China's airspace and then cross the Pacific eastwards.
On Tuesday, the three-member group flying at high altitude came across some political troubles when the balloon veered away from the charted course designated by the Chinese authority.
Chinese officials had ordered them to land on China's Tibet, but the Chinese side revoked the order following negotiations with American and British diplomats.
Ten people were killed and five others injured when a train collided with a bus at a crossing near the city of Barde in India's eastern state of Bihar.
The Press Trust of India reported that railway officials blamed the passengers for the accident.
The report said anxious passengers grabbed the key from a guard and opened the crossing rail.
The collision took place before the bus could manage to cross the rails.
All the dead were passengers of the bus.
International observers in Kosovo still hold hopes for the resumption of a cease-fire despite the continuous fighting between Serbian security forces and Albanian separatists over the past few days.
A spokesman with the observers said in Pristina that the situation in the Yugoslav Kosovo province was calm.
At least 12 people were killed in the battle last week.
Chairman of the Organization for Security and Cooperation, Gelmeck of Poland, blamed the two sides for causing the conflict.
Several key US Republican Congressmen were caught in disagreement over how to impeach President Clinton.
Senate majority leader Lott said the Senate could make an impartial ruling based on the existing evidences.
However, the Republican complainant in the House wanted to summon 15 people including Lewinsky to testify in court.
The love affair between Lewinsky and President Clinton is the core of the scandal.
Senator Lott expects the trial to begin on January 11 and to end in two weeks.
In Yemen, freed Western tourists said the kidnappers hid behind them as shields during the army's rescue operation.
Four tourists were killed in Tuesday's gun fight. Twelve people managed to escape.
The Yemeni government said the army launched the attack when it was obvious that the kidnappers would kill the hostages.
However, some freed tourists said the gun fight broke out after the start of the rescue operation.
Indonesian Police Summon a Reporter for Coverage on Rape of Chinese Women in May
(APF report from Jakarta)The Journalists Protection Committee, an international organization advocating for press freedom, expressed its shock over the summoning and examination by the Indonesian police of a journalist who reported the rape of Chinese women in the riot this May.
The New York-based Journalists Protection Committee said Jakarta-Jakarta's reporter Gunawan was summoned on Thursday to the police headquarter for questioning.
The Committee said Gunawan quoted a woman victim's narration in a report in July.
The New York Times also quoted the victim's remarks in a June 10 report.
In a letter to Indonesian President Habibie the Committee said the summoning is "the first step for the police to file a charge".
The Committee "is very much concerned over the negative impact on the freedom of speech by applying such law".
The Committee referred to the move that Indonesian Muslim organizations have pressured the government to arrest Gunawan citing Article 156 of the Criminal Code.
The article prohibits people from defaming religious groups.
The International Alliance of Independent Journalists has also lodged a protest with the police against the summoning of Gunawan.
It said this would "set a precedent for weakening the greater freedom enjoyed by the press since the stepdown of former President Suharto."
The Journalists Protection Committee has urged Habibie to "stop actions against Gunawan" and to settle the dispute in civil court.
It also called the relevant parties to "make utmost efforts to eliminate the article concerning defamation in the Criminal Code of Indonesia."
A Majority of Hong Kong Residents Decline to Consider Themselves as Chinese
(AFP report from Hong Kong) A public survey announced yesterday showed that although Hong Kong returned to Chinese jurisdiction last year, a majority of Hong Kong residents declined to consider themselves as Chinese.
The survey results showed that among the 6.5 million Hong Kong residents, 40% of them consider themselves as "Hong Kong residents", 22.3% of them consider themselves as "Hong Kong Chinese", and 20.6% of them consider themselves as "Chinese living in Hong Kong".
The survey was conducted by the Social Sciences Research Center of University of Hong Kong.
Among the 517 interviewees, only 20.6% consider themselves as Chinese, and 1.6% did not give definite answers or give their comments.
In similar surveys conducted half a year following Hong Kong's return to the Chinese jurisdiction, 35.9% considered themselves as "Hong Kong residents", and 18% considered themselves as Chinese.
Now it's 15 months since Hong Kong returned to Chinese jurisdiction, the Hong Kong government has been trying to remind the residents that they are Chinese.
A Hong Kong official criticized that the 150-year British colonial rule has put many Hong Kong residents in dilemma on the issue of their identity.
Chief Executive Tung Chee-Hwa of Hong Kong SAR, said in his National Day message the day before yesterday, "I feel very proud of being a Chinese, and I'm also very proud of the development of our country."
In order to foster the sense of Chinese nationals among the Hong Kong residents, the Council for the Promotion of Education among Hong Kong Residents has compiled and published a book with vivid pictures entitled "I Am Chinese".
Head of Shalaoye Province: Anwar Likely Guilty of Sodomy
(AFP report from Sydney)Chief Minister of Malaysia's Shalaoye Province Taiyimarmu said the detained Malaysian former Deputy Prime Minster Anwar was most probably guilty of all charges against him, including sodomy.
In an interview with Australian newspapers, he said "he knew Anwar very well", and believed that Anwar would be likely pronounced guilty of all the charges.
He said, "I've learned all the charges he faces."
"I think he is very likely to be pronounced guilty."
Anwar was arrested on September 20 under internal security orders, and was faced with 10 charges, five counts of sodomy and five counts of graft after he held a series of demonstrations following his dismissal in early September.
He made his first appearance on Tuesday, nine days after he was detained by the police, with his left eye swollen and bruised hands. He denied all the charges in court.
Taiyimarmu is in Adelaide to attend an international alumna gathering.
He said he didn't contact Anwar recently but he is not worried about his conditions, nor that Anwar would receive an unjust trial.
He said "the law is impartial...if he is innocent, I believe he will be released.
"But if he is guilty he should be punished like other Malaysian citizens."
Taiyimarmu also blamed Anwar for the impairment of Malaysia's international image.
He said, "I think what has impaired our image is not what happened here but the remarks of Anwar."
National Youth League to Make Biggest Flag to Show Support to the Head of State
(Kuala Lumpur)The National Youth League will make the world's largest flag to show their care and support to the state and the state leader.
The youth league is scheduled to hold a meeting on October 24 to present the compatriotic letters they had received across the country to Prime Minister Mahathir.
At the meeting, the youth league will also display compatriotic flags, including one which probably can be entered in the Guinness Book of Records.
The flag is 150 meters by 100 meters, which is made by State of Selangor Youth League and has applied for entry into the Guinness Book of Records.
The National Youth League said these activities are aimed at showing support and adoration for the state leaders.
"We want to let people know that when someone wants to overthrow the democratically-elected government through undemocratic and illegal means, the Malaysian people will not tolerate and remain silent."
Meanwhile, the National Youth League said no foreign governments, leaders or media should attempt to interfere in Malaysia's internal affairs.
"Although we deeply believe in our government's capability in dealing with any thing that jeopardizes the country's security, the irresponsible acts of some people have been challenging our tolerance time and again."
Therefore, the youth league calls on the Malaysians to join hands in foiling the attempt by foreign forces to create instability in the country.
Overhead Railway Project to Re-Start in Bangkok
(AFP report from Bangkok) The Ministry of Transport and Communications of Thailand announced yesterday that Thailand will demand Hopewell Group, a Hong Kong listed company, which contracted for the construction of the Bangkok Overhead Railway and Highway System, for damages worth US$6.8 billion (approximately 11 billion Singapore dollars) for its failure to perform the contract as scheduled.
Vice Minister Pharatid of the Ministry of Transport and Communications of Thailand said the Ministry of Transport and Communications of Thailand and the State Department of Railways are entitled to have a recourse against Hopewell for the damages worth US$6.8 billion for the losses arising from the project delay. Thailand criticized Hopewell for having completed only 12% of the originally scheduled project during the past 8 years.
Hopewell had several negotiations with the relevant Thai authorities in connection with the intensified financial disputes arising from the devaluation of Thai Baht and the land requisition progress disputes following the economic crisis in the country, but achieved no results. In January this year, the Thai Government terminated the contract with Hopewell.
As a result, Hopewell has demanded an indemnity worth 100 billion Thai Baht (approximately 4.2 billion Singapore dollars) from the Thai Government to compensate for the investments made over the past 8 years and the completed portions of the project.
The Thai Government said yesterday that Thailand is planning to re-start the 3.2 billion US dollar project, but is planning to scale down the project.
But in no event will Hopewell be allowed to participate in the project.
Pharatid said that the German Government and KFW, the German Reconstruction Bank was interested in helping the huge project revive, and had decided to invest 100 million Thai Baht in the feasibility study of the Bangkok Overhead Railway and Highway System.
The German company Siemens is currently working together with a local company in Thailand to construct another electric railway in Bangkok, which is 23 kilometers.
Thai Finance Minister Tarrin in Japan to Discuss Loan Package
(AFP report from Bangkok) Thai Finance Minister Tarrin left for Japan yesterday for talks over Thailand's share of the US$30 billion (48.6 billion Singapore Dollars) aid package provided by Japan to save the Asian economy deep in financial crisis.
He said during his four-day visit to Japan he would hold in-depth talks with the Japanese side but he was not sure how much money Japan would offer to Thailand.
Speaking to reporters at the Bangkok International Airport, Tarrin said, "I have already reported to Prime Minister Chuan Leepai on the outlines of how to use the loan but we haven't decide the sum because Japan hasn't informed us about it."
He said he expected to obtain a low interest rate and generous conditions of repayment under the program.
He said he would hold separate talks with Japanese trade and industrial officials on a new aid package to support Thailand's industrial and agricultural restructuring.
Japanese Finance Minister Kiichi Miyazawa announced a $30 billion aid package on October 3 at the G-7 meeting.
In a short time, Japan will provide $10.5 billion to help such sectors as trade and financing.
Japan is to provide direct financial aid through loans offered by the Japanese Import and Export Bank and by purchasing Asian public bonds. It will also provide Japanese Yen development loans to Asian countries.
It will also guarantee to provide loans to banks in Asian countries and to issue Asian bonds, helping them raise money in the world.
Kiichi Miyazawa's aid package is of great importance to Thailand because last month Thailand delayed its plan to issue $500 million worth of global bonds.
Thailand will inject the money in its economy as circulating funds.
Thai economy has been seriously struck by high loan costs and turbulences in the world's emerging markets.
August Retail Index Falls 8.3% Compared with Last Year
The retail index in August fell 8.3% as compared with the same period of last year, a continued decline in 12 months.
The retail index has witnessed a continued decline since September 1997 compared with the same period of the previous year, showing that the local retailing sector is still in a slow period.
The retail index saw a fall of 8.3% as compared with that in July.
The index would fall 3.9% if the sales of vehicles were not included.
Figures from the Statistics Bureau showed that almost all the retailing activities in August were very slow.
The sales of vehicles saw a surge of 41.4% in July, but a drop of 19.9% in August.
Other retailing sectors which have also witnessed a decline in sales include furniture and household goods (8%), textile and personal necessities (7.8), department stores and supermarkets (2.6%), gas stations (1.3%) and groceries (0.3%).
In another development, food and beverage industry was also down 4.5% in August as compared with the same period of last year, a continued decline in seven months since February 1998.
However, if compared with July, there has been a slight increase of 1.4% in the food and beverage sector.
The money spent on food and beverage rose to 248 million dollars from 245 million dollars in July.
The rise is attributed to the revenue increase of 6.6% in the fast food sector.
Apart from restaurants, the sales of other food outlets also saw an increase of 2.5%.
The retail index and the food and beverage index are released every month by the Statistics Bureau, with the aim to learn about the country's short-term performance in the retailing sector and the food industry.
25-Story Building in Detroit Leveled to the Ground in 30 Seconds
(AFP report from Detroit) The 107-year-old Hudson Building in Detroit turned into a heap of ruins in 30 seconds the day before yesterday.
The reinforced structure building was 25 stories high, and was the highest building which was bombed down by plastic explosives.
The Hudson Building was once the largest retail store in the world, and was also a landmark of Detroit.
With the explosion of 1,215 kilos of plastic explosives, the building turned into 306,000,000 kilos of debris at last.
A series of internal explosions began in the Hudson Building at 5:45 p.m. local time, and cloud of dense dust turned into a thick fog which swallowed all the onlookers around.
A citizen said, "I did not expect that I would be completely blackened by the dust."
As the building collapsed, some onlookers cheered up, but some others were wiping their tears, as they would no longer see that familiar building.
During its peak time in the 50s, the building accommodated about 100,000 shoppers every day.
Even some famous movie stars, including Garbo and Peck, visited the building.
Mayor Archer of Detroit once told the public that the local authorities would like to offer to the public the chance to press the detonator in order to raise 150,000 US dollars of charity donations.
But as the Hudson Building was the glory of Detroit, no one was willing to press the button to destroy the building.
A man who proposed to have the building under protection said, "It's a tragic thing."
Portuguese Foreign Minister to Talk with UN on Over-Deployment of Indonesian Troops in East Timor
(APF report from Lisbon) According to reliable sources, Portuguese Foreign Minister Gama will hold talks with a UN official in Geneva on the issue of over-deployment of Indonesian troops in East Timor.
Saiser, spokesman for Gama, said what the relevant reports say are not in line with what was promised by Indonesian Foreign Minister Alatas in August before Gama and UN Secretary-General Koffi Annan.
Saiser said Alatas had promised to gradually reduce Indonesian troops in East Timor.
Sources said Gama is scheduled to hold discussions with Annan's representative Mark regarding the relevant developments.
According to a file, obviously a confidential document of the Indonesian military, which was circulated among foreign journalists, by the end of July, there were 17,834 Indonesian military men in East Timor.
Western embassies said the number was very close to what they had estimated.
However, Indonesian Commander-in-chief Wiranto rebuffed it as a "lie".
He failed to give the true number but military officials had indicated that there were about 11,500 Indonesian troops in East Timor in August.
Indonesia sent its troops to East Timor in 1975 and annexed it in the following year.
However, the United Nations still holds that Lisbon shall be responsible for the administration of East Timor.
The UN Secretary-General has been sponsoring peace talks between Portugal and Indonesia since 1983.
East Timor leaders, including Nobel Prize winner Belo and independence movement guerrilla leader Gusmao, still in jail, have made their statements in support of the relevant reports, refuting Indonesia's claim that it has reduced its troops in East Timor.
US Federal Reserve May Cut Rates Again
(Reuters report from Washington) Vice Chairman of the US Federal Reserve Rivlin warned on Monday that the global financial crisis will slow down US economic growth, and hinted that the United States may need to further cut interest rates to avoid economic recession.
Rivlin said in an interview that she didn't think the US economy would collapse but she warned that the decline of export and the reduction of employment opportunities mean that economic growth would slow down drastically.
The Federal Reserve had cut interest rates twice over the past six weeks to avoid the lash on US economy brought by the most severe financial crisis in half a century.
The Federal Reserve is scheduled to meet on November 17 to discuss about interest rate cut.
It is generally anticipated that the Federal Reserve will cut rates again to keep the economy stable.
The US economy saw a 3.3% increase in the third quarter of the year, lower than the 5.5% of the firs quarter.
It is predicted that the economy will further slow down in the coming several months.
This is because both investment and output of the American manufacturing industry have been affected by the decline of US export to Asia.
Rivlin pointed out that the great pressure on the US financial market had been relieved in the past few weeks.
However, she warned that the credit crunch still existed.
Rivlin also said the world economy has not fully recovered from the crisis.
Asia's recovery was in the very preliminary stage.
Japan, the world's second largest economy, had not recovered while Russia's economic situation "remains bad".
Lien Hoe to Redeem the Remaining 65% of Bonds before the End of the Year
(Report from Kuala Lumpur) Lien Hoe expected that by way of bank loans, it may redeem the currently remaining 65% or 53,810,000 Ringgit of its bonds, before the end of this year.
The redeemable secured bonds at an annual interest rate of 6% issued by Lien Hoe had a total value of 85,740,000 Ringgit, expiry on August 17, 1998.
Due to the declining of the real estate market and the decrease of floating capital, Lien Hoe was able to redeem only 35% of its bonds upon expiration, and the remaining 65% of the bonds were deferred till August 17, 2000, at an annual interest rate of 15%.
The Securities Exchange Regulatory Commission granted its approval last month that Lien Hoe could defer its bonds till August 17, 2000, which made the Group the first company in the country to be approved for the deferral of bonds.
As the current market interest rate has gone down, Lien Hoe has planned to redeem the remaining bonds through bank loans, instead of the even higher annual interest rate to the bond holder, which is 15%.
The managing director of the company, Tseng Hualong, said, as the current interest rate has gone down, and the newly proposed financial budget is advantageous to the development of the real estate industry, Lien Hoe was expected to be able to reverse the adverse situation in the first half of the year, and achieve good performance in the second half of the year.
Portuguese Parliament Member Demands the Extradition of Suharto
(AP report from Lisbon)Portugal's Chief Procurator's Office said the day before yesterday that the General Procuratorate is discussing a request raised by a Portuguese Parliament member to extradite former Indonesian President Suharto.
Parliament member Kreja Silva said in a letter that Suharto should be extradited for his deeds against human rights in East Timor.
Indonesia invaded East Timor, a former Portugal colony, in 1975 and annexed it to Indonesia several weeks later.
Spokeswoman of the General Procuraorate Sala Pena said, "We are studying the possibility of doing so on the basis of Portuguese laws."
Human rights organizations have accused Indonesian troops' violations of human rights in East Timor.
Silva said the possible extradition of Pinochet, former Chilean dictator, to Spain for charges such as genocides had made him firmer on the extradition of Suharto.
Pinochet is now in London, awaiting the Upper House's decision on his extradition.
Britain's Supreme Court has revoked an order to arrest Pinochet because Pinochet enjoys immunity as a former head of state.
Silva is a member of the rightist People's Party.
He said the United Nations still considers Portugal the legal administer of East Timor. This will be helpful for filing the request to extradite Suharto.
Philippine Foreign Minister: Cambodia Not Expected to Join ASEAN Next Month
(APF report from Manila) Philippine Foreign Minister Siazon said the day before yesterday that Cambodia was not expected to join ASEAN during the ASEAN summit next month in Hanoi.
Siazon said Cambodia will not become an ASEAN member automatically even if the Cambodian opposition parties form a coalition before the summit meeting.
He said, "Many ASEAN members showed hesitation."
"Now there still exist many problems and the political process in Cambodia is under way."
"If we accept them as a new member, we have to deal with the problem once again if they fight again."
Earlier this week, Malaysian Foreign Minister Abdullah said Cambodia's ASEAN membership hinged on the establishment of a legitimate government.
Siazon said, "Some say, haven't we been burnt before? At that time, just as we were ready to accept them, they fought again several days later."
He was obviously referring to April 1997 when Cambodia was close to reach an agreement to join ASEAN.
Cambodia's failure to join ASEAN was due to the overthrow of Prince Ranariddh by Hun Sen.
Hun Sen's Cambodian Peoples' Party won the election in July but the party failed to win over 2/3 Parliament seats required for its sole control of the government.
Last week, Hun Sen and Ranariddh reached an agreement to form a coalition government, but the new government is yet to be established.
China Plans to Settle 20 to 30 Million People on a Million Acres of Reclaimed Land from Sea
(AFP report from Beijing) The English newspaper China Daily reported yesterday that China plans to settle a population of 20 to 30 million on reclaimed land from sea along the coastal regions in the next century.
Experts attending the Conference on Land Reclamation from Sea in Xiaoshan, Zhejiang Province revealed that the government hopes to reclaim one million acres of land from sea in the coming 40 to 50 years along the 18,000 kilometers of coastal lines.
China Daily says that 20 to 30 million people will live in these areas.
The paper cited Professor Yu Zhiyin as saying, "Technically speaking, China has no problem in accomplishing land reclamation from sea. The problem lies with insufficient fund."
It is reported that even if the project will cause serious environment problems, "it remains an effective means of easing land resources shortage in the next century, especially as China has such a huge population."
The relevant plan will also promote the development of new industries and new employment opportunities.
China plans to make investments in its infrastructure facilities in order to cast off the effects of the Asian financial crisis.
Zuo Zhongmo, deputy secretary-general of the Conference, said, "This is not just an issue of agriculture. These reclaimed lands can serve the general development purposes of various sectors, including forestry, industry and tourism."
Although China implements "one child policy", the Chinese population is expected to continue to grow and will reach its peak of 1.6 billion by the middle of the next century.
China presently has a population of 1.23 billion.
Over 90% of the Chinese population live in areas representing one third of the country's territory.
Japanese Prime Minister Hopes Miyazawa to Stay and Carry out Economic Recovery Plan
(Reuters report from Tokyo)Japanese Finance Minister Kiichi Miyazawa was pressured not to quit office yesterday.
He announced last week that he wanted to resign soon.
The issue of whether Miyazawa stays or not has cast shadow on the coalition government formed by Keizou Obuchi's Liberal Democratic Party and Ichiro Ozawa's Liberal Party.
The coalition government has been in an unstable state since differences came to surface among the senior officials regarding whether the Cabinet's posts held by the Liberty Party are prearranged.
It was reported that Secretary-General of the Liberal Party Hirohisa Fujii will replace Miyazawa after the latter resigns.
Miyazawa said last Friday that he will resign at the end of the year but he didn't give the exact date.
He said at a press conference, "I can't tell when."
It is expected that he will stay in office till the closing of the Diet's two-week special meeting.
The Diet's meeting will close on December 14.
Suzuki, Deputy Secretary of Keizou Obuchi's Cabinet, told the NHK television that he believed that the Prime Minister will ask the 79-year-old Miyazawa to stay.
Suzuki said, "I think (Obuchi) personally expects him to stay to carry out his economic recovery plan."
Obuchi will hold talks with Miyazawa.
He said, "In consideration of his ability, it is not easy to find someone to replace him."
"I myself expect him to stay to invigorate the country's economy."
Obuchi's public comment on Miyazawa's desire to resign was that he had read the relevant reports and planned to talk it over with the Finance Minister.
Information Minister Rahmat: Demonstrators of "Lasting Fire" Should Not Become Foreign Puppets
(Kuala Lumpur)Malaysian Information Minister Mohammed Rahmat said people who took part in the "Lasting Peace" demonstrations should not become foreign puppets to sabotage the country and should, instead, take wiser approaches to express their wills.
He said that compared with resorting to violence and making chaos, it is much more effective to express their wills through reasonable means.
Malaysian News Agency reported that Mohammed Rahmat told reporters yesterday after attending Information Ministry's Home Day activities that the government had taken measures to allow the people to fully express their wills in 500 Expression Centers established across the country such that all people can express their opinions and views toward the country through proper channels.
He said the government will study the opinions and wills of the people and make improvements to meet the needs of the people.
He stressed that this is a practice of democratic nations.
He also urged the demonstrators to think thoroughly about the consequences of demonstrations because Malaysia's prosperity today is the result of contributions of all Malaysians and active construction during the past 41 years following its independence.
He said the demonstrators were being supported by foreign forces to resist the government and they didn't realize it was a betrayal of national dignity.
He said, "If foreigners want to invest in Malaysia, we welcome but if they pay the demonstrators, we certainly will protest."
Australia Sends Military Attach开 to East Timor to Watch Moves of Indonesian Troops
(Reuters report from Canberra)Australian Defense Minister Moore said Australia has been authorized to send a military attach开 to East Timor to watch Indonesian troops' movement.
Speaking in Channel 9 television on Sunday, Moore said he talked about Australia's concerns over the East Timor issue with Indonesian President Habibie
Moore said, "We held frank talks on East Timor and other relevant issues.
"We mentioned the issues of Australia's concern, such as human rights in East Timor and the dispatch of a military Attach开 to East Timor.
Moore held talks with Habibie the day before yesterday in Surabaya following talks with Indonesian Defense Minister Wiranto last Friday.
Moore said the Australian military Attach开 to Jakarta will conduct free investigations after he arrives in East Timor tomorrow.
He pointed out the military Attach开 would investigate the number of troops, their establishments and relations with the local people. He would report any sensitive issues he found when he comes back.
The United States expressed its concern over the recent riots in East Timor and quoted reliable sources as saying that the recent military operations had caused the death of civilians.
However, Moore said Habibie refused to allow former head of Australia's Criminal Investigation Bureau Sherman to go to East Timor for the investigation of the death of five Australian journalists in 1975.
The Australian government decided to investigate the case after one new witness accused Indonesia's Information Minister Yosfiah of ordering its soldiers to kill these Australian journalists when he was the commander of the Indonesian Special Forces in 1975.
Thousands of British Leave Australia Due to Discrimination by Locals
(APF report from Sydney)A survey released yesterday showed that thousands of British immigrants decided to leave Australia due to local people's "hatred toward Britain" and the discrimination against them.
Britain's Immigrants Association has called on the government to face up to the problem for the sake of the immigrants and Australia's economic interests.
Chairman of the Association Hantel pointed out that the Australians bear "hatred toward Britain" and that Australia's economy is "likely to lose millions of dollars every year for this".
He said it was very disappointing that so many British chose to leave Australia because they were almost all skilled workers and economically independent.
He told reporters that "under the immigration rules these immigrants are not those you want to cast off."
The British account for 14% of the immigrant population in Australia.
However, statistics released by the Immigration Bureau showed that although there were 11,978 new British immigrants coming to Australia between 1996 and 1997, 3,737 people left the country during the same period.
Hantel said the survey by the Association found that one quarter of the British believe that they are discriminated against in Australia.
Nearly 40% surveyed believed that the local people were partial to non-British.
37% pointed out that the complaints of the British couldn't be treated equally like other peoples.
About 35% surveyed blamed the media for causing prejudice against the British.
Hantel said former Australian Prime Minister Keating's anti-British position also contributed to this.
Opposition Party Urges Defense Minister to Step down for Series of Accidents
(Reuters report from Seoul) South Korea's opposition parties urged Defense Minister Kim Dong-Shin to step down because of a series of military accidents, including the misfiring of a missile and a star shell to civilian districts.
South Korean officials said the latest accident took place at dawn during a military exercise when a star shell struck through two walls of an old woman's house.
The old woman's house was close to the site where two days ago the fragments of a missile fell after explosion.
Navy officials said the star shell fired by the South Korean Marines went beyond the range they expected, hitting the house in Kimfu.
Kimfu is located west to Seoul.
The opposition Grand National Party said in a statement that the Defense Minister must step down immediately or (President Kim Dae-jung) must sack him.
A government which is not afraid of its people is not a government of the people."
The statement said Kim Dong-Shin tried to hang on to his post. He only expressed his sorrow, which was arrogant.
The Defense Ministry apologized for the missile accident the day before yesterday.
A Navy official said the star shell hit the bathroom after going through two walls.
He said the 83-year-old woman has been hospitalized for over-shock.
Last Friday, the South Korean army launched a ground-to-air missile by accident. The missile exploded in the air, wounding at least three civilians.
Defense Ministry officials said the missile was fired by accident when the military technical personnel were checking equipment at an air base in the western port city of Inchon.
Inchon is 40 kilometers away from the border between South Korea and North Korea.
Chuan Leepai: Thailand to Hold Early General Election
(Summary report from Bangkok)Thai Prime Minister Chuan Leepai said he would hold an early general election before the seven-Party coalition expires in October 2000.
However, he added that the coalition is now in stable condition and capable of carrying out the economic reform plan.
He said that such economic reform will be of great importance to economic recovery and the goal of achieving a sustainable economic growth rate.
In a speech delivered to the Overseas Journalists Club, Chuan Leepai said, "the confidence of foreign investors is closely linked to the stability of the government and consistent policies. We will bear this in our mind."
"We don't want to stay till the tenure expires."
"We will use the time available to us to implement the restructuring of the country's economy and to lay a good foundation for (future) sustainable development."
Chuan Leepai said he has not decided when to dissolve the Parliament and hold the general election ahead of schedule.
Thailand has not yet recovered from the crisis.
In addition, Chuan Leepai warned in his speech that Thailand has not yet recovered from the crisis.
He pointed out that the current situation is still "frail". The global factors would likely cause Thailand to miss the target for achieving economic recovery in the second half of 1999.
However, he promised to carry out more extensive reforms and to curb corruption in the country's economic sectors.
Promoting Viagra, Dole Calls for Public Awareness of Sexual Impotence
(AP report from New York) 1996 Republican presidential candidate Dole will launch a new campaign in which he will represent Pfizer, the manufacturer of the world famous sex-enhancing drug, Viagra, in its advertising promotion to raise public awareness of sexual impotence.
Dole will address in TV commercials sexual impotence and general health education for men.
Pfizer declined to indicate the payment to Dole, and Dole would not mention Viagra in the commercials.
The commercials will be aired early next year.
The Dole commercial is the first time Pfizer has promoted Viagra through television.
Pfizer is considering whether it will run any advertisement directly mentioning Viagra.
In May this year, Dole admitted using Viagra on a trial basis, and gave high remarks to the drug after use, describing it as "a magic drug."
75-year-old Dole said in his statement, "I believe this campaign can help men become aware of the health issue they are afraid to address."
Since the sex-enhancing drug was launched in April this year, American doctors have issued more than 6 million Viagra prescriptions.
There are 10 to 20 million men in the United States who are impotent, but only 10% of them seek help from the doctor.
Dole urged the Americans in talk shows and also at the Congress to early diagnose and treat carcinoma of prostate and recognize its side effect of sexual impotence.
Dole was diagnosed as suffering from carcinoma of prostate in 1991, and according to the doctor, he recovered after operation.
Two South Korean Prisoners of War Escape after 45 Years in North Korea
(Reuters report from Seoul)South Korea's National Security Planning Bureau said the day before yesterday that two South Korean soldiers, who were believed to be killed in the Korean War, escaped from North Korea after being jailed for 45 years.
The National Security Planning Bureau said in a statement that 67-year-old Kim Fu-ji and 71-year-old Park Dung-yi recently returned home via a third country.
The statement said the two men were captured by Chinese soldiers in the northeastern regions nearby the border between South Korea and North Korea during the Korean War.
The statement said they were forced to work in a coal mine in North Korea before they escaped.
South Korean Defense Ministry listed tens of thousands of soldiers as Missing In Action after the 1950-1953 Korean War. Kim Fu-ji and Park Dung-yi were among them.
South Korea and North Korea eventually signed a truce but not a formal peace agreement.
South Korea and North Korea are still technically in war.
It is hard to believe that the two men became relatives by marriage when they were both under imprisonment.
The statement said Kim Ning-jue, the second son of Kim Fu-ji married Park Jun-shi, the fourth daughter of Park Dung-yi in April of 1991.
The statement didn't give any further explanation.
An official with the National Security Planning Bureau said Kim Fu-ji and Park Dung-yi had been detained for questioning.
The Defense Ministry said about 20,000 soldiers were missing in the Korean War and it believed that some had survived.
In April, one escapee said there were still 50-60 South Korean soldiers being jailed in North Korea.
Huang Sihua: Malaysia to Create Favorable Environment to Keep Billions of Foreign Investment in Stock Market
(Kuala Lumpur)Malaysia's Deputy Finance Minister Huang Sihua said that it is anticipated that some 10-billion Ringgit of foreign investment will be withdrawn from the stock markets as foreign exchange control measures are implemented for a full year by September 1 next year. Therefore the government will take various measures to create a favorable investment environment to encourage foreign investment to stay in Malaysia.
He said that judging from the economic growth rate achieved in the third quarter, the Malaysian economy has shown signs of recovery. He believed that by September next year, the economy will become stable, market activities will become active, and foreign investors will decide to invest in Malaysia.
Huang Sihua made the remarks the day before yesterday at an economic conference and seminar sponsored by Malaysia's Chinese Chamber of Commerce and Industry.
He stressed that the Malaysian government will set the exchange rate between US Dollar and Malaysian Ringgit at 1:3.8, which will encourage overseas investors to plan long-term investment projects, without worrying about the fluctuation of currencies.
He said that foreign exchange control will continue for a period of time till the international currency market becomes stable, the international mechanism is set up to bring speculations under check and the transparency of currency transactions is guaranteed to avoid financial crisis hitting the Southeast Asian region again.
In addition, Huang Sihua said through the coordination of the Finance Ministry, the state has granted approval to offer loans to 20% of those companies which were originally disapproved and have filed complaints to the Ministry.
He said the Finance Ministry will continue to offer consulting services or relevant assistance to the companies whose application for loans were not accepted in order to help them to carry out development projects and to give impetus to the domestic economy.
Japan, Australia, New Zealand and South Korea Expresses Support, saying that the U.S. Has No Other Choice
(Summary report from Tokyo) Japan, Australia, New Zealand and South Korea have expressed their support for the Desert Fox military action, saying the United States has no other choice.
Japanese Prime Minister Keizou Obuchi expressed his support for the air strikes, and also called on Baghdad to accept the U.N. weapons inspection unconditionally.
Obuchi said in a statement that Iraq did not give "enough" cooperation following the resumption of the weapons inspection program.
"Given the development of the situation in the past, our country supports the actions taken by the U.S. and Britain this time."
South Korea also expressed its support for the joint air strikes conducted by the U.S. and Britain.
Australian Prime Minister Howard said that after he reviewed the report prepared by Butler, the head of the U.N. weapons inspection team, he believed that the U.S. and Britain had no other choice but to launch the attacks.
France and Germany expressed their regret and grief.
New Zealand Prime Minister Shipley said in a special statement that the world could not tolerate Hussein's continued defiance of the U.N. resolutions.
Meanwhile, France also expressed its regret over the actions the U.S. and Britain were forced to take.
French Foreign Ministry said the regretful situation had resulted from Iraqi leader's refusal for cooperation with the U.N.
Germany expressed its sorrow over the military action. A government spokesman pointed out that Germany has warned Iraq that the international community would not tolerate Iraq's defiance of U.N. promises.
Philippines Accuses Malaysia's Attempt to Occupy Its Reef
Fernandel reports from Manila
Philippine officials believed that apart from China another country which poses potential threats to the Philippines in the Nansha Islands is Malaysia.
A Philippine intelligence file showed that Malaysian troops were attempting to occupy a reef of the Philippines.
The file said Malaysia's attempt to occupy the reef might pose threats to Philippine's security because the reef was geographically close to Philippines' Barlawan Island.
The paper did not specify when the event took place or why the Malaysian troops' attempt did not succeed.
Philippine military officials said in an earlier press interview that Malaysia's attempted to occupy the reef took place in August, or a few months before the Philippine Navy was aware of the Chinese Naval activities in the Meiji Reef in November.
They explained that the timely "persuasion" by the Philippine government prevented Malaysia from carrying out its plan in that region, but the Philippine Defense Ministry officials did not give any details.
Before the Philippine military disclosed Malaysia's attempt to occupy the Philippine reef, President Estrada had rejected the proposals raised by the military to control the Philippine reefs.
In the same report, the military claimed China's construction of facilities in Meiji Reef as a springboard for the country to occupy the nearby Ledel Reef to prepare for its oil exploration.
Warm Responses to the Sale of Yunnan Gardens with 44 Units Half Sold
Yunnan Gardens were launched for sale last weekend, and have received warm responses.
As of the day before yesterday, more than half of the 44 units had been sold, i.e. 25 units had found their buyers.
Among them, 19 were middle town houses, with an average sales price of 1,06,000,000 dollars, and the other 6 were side town houses, with an average sales price of 1,400,000 dollars.
Developed by the Fujian Club, Yunnan Gardens is a real estate project of 313 units with land ownership
It has permanent land ownership contract, and covers a land area of 1.3 million square feet. It is located at the Upper Section of Yulang Road, which is close to the Nanyang Technological University.
Prior to this, the developer has launched 139 units in three different phases.
The earliest phase was in 1991, and the first three phases have all been completed so far and have been occupied.
Last week, the developer launched 66 units of its fourth phase, with the Dai Yu Xiang Industrial Consulting Company as its sales agent.
These include 60 town houses, 2 semi-detached villas, 1 detached villa and three commercial spaces, which are located at the first and second plot of the fourth phase.
As compared with the third phase, the price of the fourth phase is down 30%.
The entire fourth phase actually contains four plots, with a total of 174 units, including detached, semi-detached villas, town houses and commercial spaces.
The development of the first two plots is expected to be completed in March 2000.
The Dai Yu Xiang Industrial Consulting Company said that spacious front door area is the biggest characteristic of Yunnan Gardens with land ownership.
Even the smallest town houses can park two cars.
Thailand Welcomes Khieu Samphan's Surrender
Liu Zhenting reports from Bangkok.
The Thai government yesterday extended its welcome to the surrender of Khieu Samphan and Nuon Chea, two key members of Khmer Rouge, to Phnom Penn.
Foreign Ministry spokesman Kusai said at a press conference, "The surrender of Khieu Samphan and Nuon Chea will be an important event in the process of the realization of national reconciliation and an end to internal conflicts in Cambodia. It will bring peace not only to Cambodia but also to the region."
Kusai reiterated that Thailand will never support any party of Cambodia to utilize Thailand for any activity in an attempt to subvert the neighboring countries.
Thailand would disarm and punish by law any foreign armed personnel once they were found using Thailand's territory for their activities.
He also said that Thailand signed an extradition agreement with Hun Sen's government in May, and therefore Thailand could also extradite by law those wanted by Phnom Penn for punishment.
Meanwhile sources in Phnom Penn also revealed that Thai Foreign Minister Dr. Surin had invited Cambodian Foreign Minister Hor Namhong to visit Thailand early next year to discuss the issues of mutual border stability, the tens of thousands of Cambodian refugees in Thailand and the proposed resumption of personnel training program to Cambodia.
The ASEAN summit meeting held in Hanoi in the middle of this month has decided to accept Cambodia as its tenth member, and has authorized ASEAN Foreign Ministers to prepare the ceremony in Hanoi to officially welcome Cambodia to join ASEAN.