China

21 killed in China coal mine accident

21 killed in China coal mine accidentBeijing, March 13 - Twenty-one miners were killed while four went missing when a coal and gas outburst took place in a mine in China's Guizhou province Tuesday, authorities said.

At least 58 of the total 83 miners, working underground at the time of accident, managed to reach the ground safely, Xinhua reported.

The accident occurred in the evening at Machang Coal Mine, belonging to a company of Guizhou Water & Mining Group.

Rescue operation was underway and the cause for the accident was yet to be established till last report. (IANS)

OECD revises its growth outlook for India to “slowing down”

OECD revises its growth outlook for India to “slowing down”The Organisation for Economic Cooperation & Development (OECD) has revised its growth outlook for the Indian economy from "below trend" to "slowing down", and warned that the worst mightn't be over for the world's second most populous country.

The Paris-based think tank said that the Indian economy is suffering rate of economic growth.

Tech analyst: Chinese smartphone market-share breakdown looks like global PC market

Tech analyst: Chinese smartphone market-share breakdown looks like global PC marketIn a recently-released video, senior technology analyst Eric Bleeker has voiced his opinion about the new Strategy Analytics' data which underscores an evident boom in the smartphone market in China.

Strategy Analytics: Samsung grabbed top spot in Chinese market in 2012

Strategy Analytics: Samsung grabbed top spot in Chinese market in 2012The latest statistics released by Strategy Analytics in a new report have revealed that the 2012 sales figures of Samsung's smartphones in China was 30.06 million units, which was almost three-fold more than the 2011 sales - of 10.90 million units - of the company's handsets in the country.

Four killed in China road crash

Four killed in China road crashBeijing, March 11 - At least four people were killed and six injured in a head-on collision in China's Gansu province Sunday, traffic police said.

The accident occurred in the evening in Baiyin city when a car smashed into an SUV at a sharp turn of the road, leaving 10 people trapped between the two vehicles, Xinhua reported.

Two people died at the scene while two others died later. (IANS)

900 dead pigs found in Shanghai river

900 dead pigs found in Shanghai riverShanghai, March 10 : Over 900 dead pigs were retrieved from Shanghai's Huangpu river Saturday after a large number of bodies were found floating in the water, authorities said.

These pigs were spotted in the Songjiang section, the upstream of the Huangpu river and a drinking water source for Shanghai residents, reported Xinhua citing the city's water supplies bureau.

Chinese exports rise 21.8 per cent in February

Chinese exports rise 21.8 per cent in FebruaryAccording to the latest figures released, the total exports from China increased 21.8 per cent during the month of February compared to the same month of the previous year mainly due to increased demand from the US and South East Asian countries.

China's inflation rebounds to 10-month high

China-InflationBeijing, March 9 : Due to rising food prices during the Spring Festival season, China's annual consumer inflation rebounded to a 10-month high of 3.2 percent in February, according to data released by the National Bureau of Statistics (NBS) Saturday.

On a month-on-month basis, February's consumer price index (CPI) gained 1.1 percent from the previous month, according to the NBS statement.

China Everbright Bank plans Hong Kong IPO to raise $1.5 billion

China Everbright Bank plans Hong Kong IPO to raise $1.5 billionChina Everbright Bank, which is based in the Chinese capital Beijing, might be planning to launch an Initial Public Offering (IPO) in Hong Kong aiming to raise $1.5 billion to meet stricter requirements.

China's e-commerce revenue hits $175 bn

e-commerceBeijing, March 8 : China's booming online commerce industry is expected to have reaped more than 1.1 trillion yuan (about $175 billion) in revenue in 2012, Commerce Minister Chen Deming said Friday.

"The total revenue of online commerce is estimated to be around 1.1 trillion yuan (about $175 billion) to 1.2 trillion in 2012," Xinhua quoted Chen as saying.

China's online commerce has experienced rapid growth in recent years, with its total revenue expanding from 25.8 billion yuan in 2006 to 780 billion in 2011, the commerce minister told a press conference held on the sidelines of the ongoing national legislature.

Don't sharply devalue currencies: China to major economies

Chen-DemingBeijing, March 8 : Major economies in the world should consider the spillover effect of their monetary policies and avoid drastic currency devaluation, China's Minister of Commerce Chen Deming said Friday.

"Any major depreciation of the world's major currencies of the Japanese yen, the US dollar and euro means great trouble for China and other emerging economies," Chen said at a press conference on the sidelines of the parliament's annual session.

Chen said many countries have adopted quantitative easing policies according to their domestic needs, reported Xinhua.

Couples flocking to divorce to avoid new property tax

Couples flocking to divorce to avoid new property taxSome media reports in China are alleging that the couples in China are flocking in large numbers to get divorced in order to avoid a new property tax introduced by the Chinese government.

China aiming at 7.5% growth this year

China aiming at 7.5% growth this yearThe government in China has set up a target of 7.5 per cent growth this year as it begins the crucial leadership transition summit.

Experts say that the moderate growth target reflects that the Chinese government is looking for a broader economic development driven by domestic spending instead of focusing on double digit growth based on exports to the global markets. The target will be the central point in the agenda at the National People's Congress that began on Tuesday.

China eyes 8 percent rise in foreign trade

China-foreign-trade.Beijing, March 5 : China hopes to increase its foreign trade by around 8 percent amid slow world economic recovery and rising trade protectionism, a report submitted to the country's parliament Tuesday said.

The targeted foreign trade growth for the world's second-largest economy is higher than last year's real growth but still below the 10-percent target set for 2012, Xinhua reported.

Chinese shares falls as government moves to cool property market

Chinese shares falls as government moves to cool property marketStock markets have fallen sharply in China on indications that the government would step up its efforts to cool the property markets in the country.

The central government is to looking to cool the property market ahead of the crucial annual parliament meetings. The Shanghai Composite fell 3.7 per cent and Hong Kong's Hang Seng recorded a fall of 1.5 per cent.

Three die in China acid leak

Three die in China acid leakBeijing, March 3 - Three people died when 2,000 cubic metres of sulphuric acid leaked from a storehouse in a Chinese village, authorities said Saturday.

The exact number of casualties in the incident, which occurred in Liaoning province during afternoon, was yet to be established, Xinhua quoted an official as saying.

The acid leaked from a family-run storehouse and contaminated nearby areas, making it hard for rescuers to approach. Two villagers were found dead at the site and another perished in hospital, the official added. (IANS)

Jackie Chan appointed to China's top political advisory body

Jackie Chan appointed to China's top political advisory bodyThe communist government in China has appointed Hong Kong action star Jackie Chan to be part of China's top political advisory body, in an attempt to possibility showcase close ties between China and the former British colony.

China to send three astronauts into space this summer

China to send three astronauts into space this summerChina will send a new manned spacecraft to its orbiting space station Tiangong-1 sometime this summer, according to an official statement released newly by the country's manned space program.

The statement released on Thursday confirmed that three Chinese astronauts would be sent into the space sometime between June and August.

The three astraunouts will board the Shenzhou-10 spacecraft, which will dock with the country's orbiting lab module.

Major Asian markets rise today

Major Asian markets rise todayMajor stock markets in the region recorded growth today after investors showed mixed reactions for the weaker manufacturing data from China.

Japan's Nikkei 225 recorded an increase of 1.78 per cent to 11,588.7, Hong Kong's Hang Seng Index rose 0.06 per cent to 22,795.52, Shanghai's Composite Index expanded 0.16 per cent to 2,317.97 while Singapore's Straits Times Index strengthened 0.09 per cent to 3,291.15. South Korea's Kospi recorded a fall of0.27% to 2,013.40 and Taiwan's TAIEX declined 0.26 per cent to 7,966.08.

5.4-magnitude earthquake jolts Tibet

5.4-magnitude earthquake jolts Tibet Beijing, Feb 25 : An earthquake measuring 5.4 on the Richter scale jolted Gerze county of Ali prefecture in southwest China''s Tibet Autonomous Region at 1:11 p. m. Beijing Time Monday, according to the China Earthquake Networks Center.

The epicenter, with a depth of 9 km, was initially determined to be at 34.4 degrees north latitude and 85.7 degrees east longitude.

Another earthquake measuring 4.1 on the Richter scale occurred in the same area at 1:22 p. m. Beijing Time, with a depth of 3 km, the center reported.

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