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 ...

&$&$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 ...

&$&$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, ...

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. ...

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 ...

BEIJING, Aug. 15 (Xinhua) -- China's banking regulator said Monday it has begun to seek public opinion on the drafted tougher capital rules for the nation's banks. The new rules will keep minimum capital adequacy ratio (CAR) for banks of systematic importance at 11.5 percent, while raising the ratio for banks of non-systematic importance to 10.5 percent, the China Banking Regulatory Commission (CBRC) said on its website. The regulation is designed to keep China's banking industry in compli ...

HARBIN, Aug. 16 (Xinhua) -- Representatives from at least 400 wood companies gathered in the city of Mudanjiang in northeast Heilongjiang Province as the 5th China-Russia International Wood Expo opened Tuesday. The expo will not only speed up local economic growth, but also promote over-all cooperation in foreign trade, said Zhang Jingchuan, the Communist Party chief of Mudanjiang. As one of the country's big four wood expos, it attracts exhibitors from Russia, Germany, Finland, Sweden, Ca ...

BEIJING, Aug. 15 (Xinhua) -- Anhui Conch Cement Co., China's second largest cement producer by output, said Monday that its first-half profits rose 233.62 percent year-on-year due to higher selling prices and increased sales volume. Net profits rose to 5.99 billion yuan (937.5 million U.S. dollars), or 1.13 yuan per share, from 1.8 billion yuan, or 0.34 yuan a share, one year earlier, the cement maker said in a statement filed to the Shanghai Stock Exchange. Revenues generated from the com ...

BEIJING, Aug. 16 (Xinhua) -- China's maritime authority on Tuesday confirmed that it will sue companies responsible for oil leaks in the Bohai Bay. The State Oceanic Administration (SOA) said in a statement that the oil spill in the Penglai 19-3 oil-field developed by ConocoPhillips China caused damage to China's oceanic ecological system, and the North China Sea branch of the SOA will, on behalf of the country, file lawsuits against companies responsible for the leaks. The administration ...

BEIJING, Aug. 15 (Xinhua) -- Tianjin Faw Toyota Motor Co. will recall 33,809 Corolla EX sedans from Tuesday to fix an engine computer malfunction, China's quality watchdog said on Monday. The recall affects Corolla EX sedans manufactured between Oct. 23, 2010 and Jan. 29, 2011, the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said in a statement on its website. The auto maker said the onboard computer controlling engine functions may fail when the comput ...