Beidou satellite launch marks first of many 2011 space missions

The high-density launch missions of China's aerospace industry in 2011 began with the successful launch of the eighth Beidou navigation satellite. In 2011, China will implement more than 20 launch missions, such as the Tiangong-1, Shenzhou-8 and the Beidou navigation project, according to plans. According to sources, China is expected to carry out more than 100 space launches during the 12th Five-Year Plan period. Wu Dong, director of the Navigation Project Office under the China Aerospace ... Add a comment

China needs caution in drive to up gold reserves

&$&$Edited and Translated by People's Daily Online &$&$ According to data on every country's gold reserves recently issued by World Gold Council (WGC), the United States’ gold reserves are 8,133.5 tons, accounting for 26.49 percent of the world’s total, and the Untied States is still the largest gold reserve country. China’s gold reserves are a little more than 1,054 tons, ranking sixth in the world. Although China's gold reserve is not less in quantity, it accounts for only ... Add a comment

China stocks close 071 pct lower Tuesday

BEIJING, Aug. 16 (Xinhua) -- China's stocks closed lower on Tuesday with the benchmark Shanghai Composite Index down 0.71 percent, or 18.60 points, to close at 2,608.17. The Shenzhen Component Index fell 0.87 percent, or 102.33 points, to finish at 11,665.41. ... Add a comment

China to spend record amount on Tibetan water projects

&$&$Edited and Translated by He Xin, People's Daily Online&$&$ China will spend a record high of 11.6 billion yuan, equivalent to 1.8 billion U.S. dollars, on construction of Tibet's irrigation and drinking water projects under the 12th Five-Year Plan (2011-2015), according to a release from Tibet's Water Resources Department on Tuesday. The water program will cover 16 categories, including irrigation, drinking water, geological disaster prevention and control as well as hydropower, ... Add a comment

Chinas yuan advances to 63925 against USD Tuesday

BEIJING, Aug. 16 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day. The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business ... Add a comment

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