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<title><![CDATA[China sees 55.5 mln travellers on 2nd day of "golden week"  ]]></title>
<news_id>6508948</news_id>
<link>http://english.people.com.cn/90001/90776/6508948.html</link>
<pubDate>Wed, 01 Oct 2008 12:06:34  +0800</pubDate>
<description><![CDATA[Some 55.5 million people traveled in China on roads on Tuesday, the second day of the "golden week" travel peak, an increase of 7.4 percent year on year, said He Jianzhong, the Ministry of Transport spokesman on Tuesday. 
 
     The "golden-week" National Day holiday this year runs from Sept. 29 through Oct. 5. 
  
 A total of 760,000 medium- and large-sized passenger vehicles were used to deliver travelers in the country, He said, adding that most of the tourists were on the move for short-dist ...]]></description>
<full-text><![CDATA[Some 55.5 million people traveled in China on roads on Tuesday, the second day of the "golden week" travel peak, an increase of 7.4 percent year on year, said He Jianzhong, the Ministry of Transport spokesman on Tuesday. 
 
     The "golden-week" National Day holiday this year runs from Sept. 29 through Oct. 5. 
  
 A total of 760,000 medium- and large-sized passenger vehicles were used to deliver travelers in the country, He said, adding that most of the tourists were on the move for short-distance travel or in their hometowns. 
 
     The transportation situation nationwide remained stable on Tuesday, said the transportation control bureau of the Ministry of Public Security on Tuesday. 
 
     It said there were no bad traffic jams in the 39 major tourism cities, nor at the 32 hottest tourism destinations nationwide. 
 
   As of 6 p.m. Tuesday, a total number of 2.57 million tourists was registered in the 119 tourism destinations nationwide under survey, up 82.58 percent compared with Monday. 
 
     The capital city Beijing has seen a great number of tourists, with the Olympic Park hosting 156,000 visitors on Tuesday. 
 
     Qianmen Street, Beijing's oldest commercial area, received 150,000 visitors on Monday and the figure is expected to rise on Wednesday, the street administrating committee reported. 
 
 The street, dating back to a century ago, was reopened on Aug. 7 after a massive refurbishment lasting more than one year. 
 
     The city also plans to open all the lighting facilities to illuminate the downtown every evening from Oct.1 to 5, according to Beijing Municipal Administration Commission. 
 
     The Olympic co-host city Qingdao also ushered in a tourism peak on Tuesday, with 11,000 people visiting the Olympic Sailing Center in the eastern city.
 
 &$<i>&$Source: Xinhua&$</i>&$
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<title><![CDATA[Death toll stands at 41 in north China landslide, search completed  ]]></title>
<news_id>6508946</news_id>
<link>http://english.people.com.cn/90001/90776/6508946.html</link>
<pubDate>Wed, 01 Oct 2008 12:06:34  +0800</pubDate>
<description><![CDATA[The death toll from a landslide in north China's Shanxi Province stood at 41 as rescuers stopped their search efforts on Tuesday. 
 
     Rescuers also found some parts of unidentified bodies and DNA tests would be conducted, said Lofan County rescue headquarters. 
 
     Some bodies could not been identified at the site because they had been buried for nearly two months, rescuers said. 
 
     A landslide toppled a waste dump from a local iron mine on Aug.1, burying Sigou Village in Loufan Coun ...]]></description>
<full-text><![CDATA[The death toll from a landslide in north China's Shanxi Province stood at 41 as rescuers stopped their search efforts on Tuesday. 
 
     Rescuers also found some parts of unidentified bodies and DNA tests would be conducted, said Lofan County rescue headquarters. 
 
     Some bodies could not been identified at the site because they had been buried for nearly two months, rescuers said. 
 
     A landslide toppled a waste dump from a local iron mine on Aug.1, burying Sigou Village in Loufan County in the suburbs of the provincial capital Taiyuan. 
 
     More than 8,000 rescuers with 921 digging vehicles had been searching for the missing for weeks. 
 
     The government had offered compensations to families of the victims and other households suffering economic losses. 
 
     A team sent by the State Council, China's Cabinet, was investigating the landslide, which had initially been played down by local authorities. 
 
 &$<i>&$Source: Xinhua&$</i>&$
  
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<title><![CDATA[China issues orange alert for typhoon Jangmi ]]></title>
<news_id>6508945</news_id>
<link>http://english.people.com.cn/90001/90776/6508945.html</link>
<pubDate>Wed, 01 Oct 2008 12:06:34  +0800</pubDate>
<description><![CDATA[The National Meteorological Center (NMC) issued an orange warning for typhoon Jangmi on Tuesday, which was expected to bring strong winds and rain in southeastern coastal areas. 
 
     Jangmi, the 15th and strongest typhoon of this year, was about 250 kilometers northeast of Cangnan, in the eastern Zhejiang Province, at 5 a.m., packing winds of up to force 10, or 90 km per hour, in the eye, according to the NMC. 
 
     It is moving northeastward at about 10 km per hour and expected to weaken,  ...]]></description>
<full-text><![CDATA[The National Meteorological Center (NMC) issued an orange warning for typhoon Jangmi on Tuesday, which was expected to bring strong winds and rain in southeastern coastal areas. 
 
     Jangmi, the 15th and strongest typhoon of this year, was about 250 kilometers northeast of Cangnan, in the eastern Zhejiang Province, at 5 a.m., packing winds of up to force 10, or 90 km per hour, in the eye, according to the NMC. 
 
     It is moving northeastward at about 10 km per hour and expected to weaken, having shaved Zhejiang's coastal area on Monday night. 
 
     Jangmi made landfall in Yilan, Taiwan at 3:40 p.m. Sunday, packing winds of up to 183.6 km per hour in the eye. 
 
     Alerted with the orange alarm, the second highest alert, at 6 a.m. on Tuesday, ships and fishing boats were advised to seek shelter in port, and local authorities were warned to prepare for floods and landslides. 
 
 &$<i>&$Source: Xinhua&$</i>&$
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<title><![CDATA[Nigerian President, Thai PM congratulate China on successful space mission ]]></title>
<news_id>6508943</news_id>
<link>http://english.people.com.cn/90001/90776/6508943.html</link>
<pubDate>Wed, 01 Oct 2008 12:06:35  +0800</pubDate>
<description><![CDATA[ Nigerian President Umaru Yar'adua Monday telephoned Chinese President Hu Jintao to congratulate China on its recent successful Shenzhou-7 space mission. 
 
     Yar'adua said following the successful hosting of the Olympics and Paralympics, China passed a milestone achievement by completing the Shenzhou-7 space mission, which marked the first spacewalk by Chinese astronauts. The successful conclusion of the mission fully displayed the country's capability and determination to become a world pow ...]]></description>
<full-text><![CDATA[ Nigerian President Umaru Yar'adua Monday telephoned Chinese President Hu Jintao to congratulate China on its recent successful Shenzhou-7 space mission. 
 
     Yar'adua said following the successful hosting of the Olympics and Paralympics, China passed a milestone achievement by completing the Shenzhou-7 space mission, which marked the first spacewalk by Chinese astronauts. The successful conclusion of the mission fully displayed the country's capability and determination to become a world power. 
 
     On Sunday, Thai Prime Minister Somchai Wongsawat sent a congratulatory message to China's Premier Wen Jiabao on the same occasion. 
 
     Somchai lauded the mission as a milestone achievement, which became an unforgettable memory for all. 
 
     China's progress in science and technology will benefit not only Chinese people but also humanity as a whole, the prime minister added. 
 
 &$<i>&$Source: Xinhua&$</i>&$
  
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<title><![CDATA[Feature: Rise of yuan - where now for China's currency?  ]]></title>
<news_id>6508939</news_id>
<link>http://english.people.com.cn/90001/90776/6508939.html</link>
<pubDate>Wed, 01 Oct 2008 12:04:47  +0800</pubDate>
<description><![CDATA[Coming back from a short business trip to Hong Kong, Clare Hu opened her purse and found that she had unintentionally spent half of her monthly salary while browsing through shops and department stores there. 
 
     "There are a variety of goods there, and they are much cheaper," says Hu, a media worker in Shanghai. Her colleagues bought even more. The buys ranged from 2, 000-yuan cameras to a box of milk tea. 
 
     Mainland tourist shopping sprees in Hong Kong are becoming a tradition, but s ...]]></description>
<full-text><![CDATA[Coming back from a short business trip to Hong Kong, Clare Hu opened her purse and found that she had unintentionally spent half of her monthly salary while browsing through shops and department stores there. 
 
     "There are a variety of goods there, and they are much cheaper," says Hu, a media worker in Shanghai. Her colleagues bought even more. The buys ranged from 2, 000-yuan cameras to a box of milk tea. 
 
     Mainland tourist shopping sprees in Hong Kong are becoming a tradition, but such behavior has become much more reckless as yuan has risen in value, increasing its purchase power. 
 
     China's currency, the Renminbi or yuan, has appreciated 20 percent against the U.S. dollar since it was unpegged from the dollar in 2005. The Hong Kong dollar, which is still pegged to the U.S. dollar, has weakened from 1.06 to 0.88 to the yuan. 
 
     INCREASED PURCHASING POWER 
 
     "With the rapid growth of the Chinese economy, the outbound travel market is expanding," says Grace Pan, head of travel and leisure research at Nielsen. 
 
     Chinese travelers spend on average 2,597 to 3,506 U.S. dollars on an overseas trip, with the amount varying by region, according to the Nielsen China Outbound Travel Monitor report. 
 
     Not only are mainland residents traveling abroad to take advantage of the rising yuan, they can sense the change in the domestic market. Prices of imported vehicles, which have been high for years, have been falling slowly for the first five months this year. 
 
     According to National Development and Reform Commission monitoring data on consumer product prices in 36 large and medium-sized cities nationwide, the prices of imported vehicles dropped 1.95 percent in May from the previous month, 
 
     China imported 171,000 automobiles in the first five months, up59 percent compared with the same period last year. In 2007, the volume of automobile imports saw an annual rise of 37.9 percent. Part of the reason is that international automobile giants made stronger efforts in China this year to make up for reduced sales in the North American market. Chinese consumers, with a currency that is becoming stronger daily, are believed to be becoming more open to buying imported cars. 
 
     The market of imported snacks and other foods has been rising at an annual rate of 15 percent in the past five years, according to report on the industrial website sponsored by China National Food Industry Association (CNFIA). 
 
   EXPORTS PAINS 
 
     In contrast to consumers, exporters have been hurt by the appreciation, which has eroded their profits to crisis point. 
 
     "In only half a year, our export cost was pushed up by 10 percent and profit reduced by 40 percent," says Shen Yaoqing, vice president of Shangtex Holding Co., a major Shanghai-based textile manufacturer that exports about 2 billion U.S. dollars worth of products annually. "Our company is on the brink of failure." 
 
     The problem of Shangtex reflects the dire situation suffered by the export-oriented processing trade that employs up to 40 million people. 
 
     Exports have been hailed as&amp;nb ]]></full-text>
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<title><![CDATA[China Merchants Bank completes acquisition of Wing Lung Bank]]></title>
<news_id>6508937</news_id>
<link>http://english.people.com.cn/90001/90776/6508937.html</link>
<pubDate>Wed, 01 Oct 2008 12:04:25  +0800</pubDate>