News Dec 4

News Bulletin

China Cabinet meeting encourages commercial banks to make more loans

China's State Council says it will adopt more favorable policies and update the financial system so as to encourage the country's commercial banks to lend more. At an executive meeting presided over by Premier Wen Jiabao, the Cabinet said banks, security firms and insurers should work together to expand financing and control risks. The meeting also released a set of measures to boost the role of the financial sector.

China vows strictest land protection as stimulus package boosts land demand

China vows strict land protection as the recent stimulus package is expected to put pressure on maintaining the countries quota of 120 million hectares of arable land. Measures will include means to avoid illegal land use and land grabs as the government's 600 billion U.S. dollar economic stimulus package is expected to boost land demand. Lu Xinshe, Deputy minister of land and resources says before any existing arable land is allocated for non-farming purposes, an equal amount of land must be earmarked for agricultural use.

China to raise grain reserves to protect farmers' income

China's State Administration of Grain says it will increase temporary state grain reserves in a bid to stabilize grain prices and to safeguard farmers' interests. The 14 million ton purchase includes 7.5 million tons of rice, 5 million tons of corn and 1.5 million tons of soybeans. Other measures to raise farmers' income and motivate increased production include raising the minimum purchase price for wheat and rice in 2009.

WB offers 120-mln-dollar loan to support China's eco-farming

The World Bank's Office in China has announced it will assist with funding eco-farming projects in China. The bank is set to provide a loan of 120 million dollars covering half of the costs for the project that will assist farmer households to build biogas digesters, improved kitchens, animal sheds, and toilet facilities. Anhui, Hubei, and Hunan provinces, along with Chongqing Municipality and the Guangxi Zhuang Autonomous Region will benefit from the project.

China Investment Corp. won't invest massively overseas till uncertainty clears

Lou Jiwei, Chairman of China Investment Corp. or CIC, the nation's state-owned forex investment firm, says no substantial overseas investments will be made amid the financial crisis given the uncertainty brought on by government policies in the United States and Europe. Lou made the comment while addressing a panel discussion at a plenary session of the Clinton Global Initiative Asia Meeting held in Hong Kong on the unfolding global financial crisis. Lou says currently the CIC has no courage to invest in financial institutions citing losses in Morgan Stanley and the Blackstone Group.

Senior Chinese official elaborates principles on "shared vision" in addressing climate change

A senior Chinese official has elaborated China's stance on a shared vision for long- term cooperative action under the UN climate convention, saying pragmatic actions are needed. Su Wei, deputy head of the Chinese delegation to the Poznan talks, said on Wednesday that shared vision should be focused on the implementation of the UN Framework Convention on Climate Change, the Kyoto Protocol, Bali Roadmap, and address mitigation, adaptation, technology transfer, and provision of financing resources. The Chinese delegation is in Poland for the two-week Poznan talks, which are aimed at building up a deal in Copenhagen next December.

Curbing greenhouse gas emission not to cut developed countries' competitiveness

A report by the non-governmental organization The World Wild Fund for Nature, or WWF, says industrialized countries have no reason to worry about losing their competitiveness when discussing setting emission reduction targets during Poznan talks on climate change. The report noted that tough caps on carbon dioxide generally have a moderate impact on production costs and there is a lack of empirical evidence to support fears of relocation of energy-intensive industries due to climate regulation. Kim Carstensen, leader of the WWF Global Climate Initiative says when discussing targets for emission reductions ahead of a possible deal in Copenhagen next year, industrialized countries should leave their competitiveness fears at the door.

Thailand to hold reelection on Dec. 11

Thailand is preparing to hold a reelection on December 11 after the Constitution Court ruled to dissolve the ruling coalition on electoral fraud charges. Election Commission chairman Apichart Sukhagganond says executives from the three disbanded parties, many of whom were members of parliament, have been banned from the electoral process for five years. As a result of the Constitutional court`s ruling, anti-government protesters lifted their siege of Bangkok's two airports, which allowed more than three thousand stranded Chinese tourists to return to China.

Police find explosive devices at Mumbai railway station

India`s media has reported that Mumbai police found and defused two bombs at Mumbai's main railway station on Wednesday evening. Two 4 kg live bombs were found at the site of last Wednesday's terrorist attack on the Chhatrapati Shivaji Terminus Mumbai Police were quoted as saying. There is speculation that the explosives could have been be planted by the militants who attacked 10 sites in Mumbai last Wednesday as the explosives were similar to those left by the militants during the attacks.

Zimbabwe Declares Cholera Outbreak National Emergency

The Zimbabwe government has declared the recent outbreak of cholera in the country as national emergencies and called on the donor community to provide aid in fighting the disease. According to the figures by the Zimbabwe government, the outbreak of cholera has so far killed 563 people and caused the malfunctioning of central hospitals. Zimbabwe Minister of Health and Child Welfare David Parirenyatwa said Wednesday that there is a critical shortage of resources in the health sector. The minister made the remarks at a meeting of stakeholders to mobilize resources for fighting cholera which was held in the capital.

Sports News

Vereran Li Nan Saves Bayi for Big Win

Veteran captain Li Nan scored 11 out of 22 points down the stretch to lead Bayi Fubang to a 105-103 breath-taking win over leaders Jiangsu Dragons on Wednesday in the eighth round of the CBA league. The 34-year-old guard scored 11 consecutive points to initiate a 12-4 run when Bayi were down 99-93 with less than two minutes left in the game. His third 3-pointer gave the home team a 104-101 lead before Yi Li had two free-throws for Jiangsu. Mo Ke had the last point of the game to give Bayi the fifth win out of eight matches.

Chinese Club Waives to Sign up Former NBA Star Baker

Another CBA team, Liaoning Hunters has waived to sign up former NBA player Vin Baker for their CBA league campaign due to physical concerns.  Baker, who averaged 15.1 points in his 13-year NBA career, appeared in four consecutive All-Star Games and played for the United States at the 2000 Sydney Olympic Games. The 2.22m forward played for several NBA teams before he was released by the Minnesota Timberwolves in 2006 for alcoholism. Baker had a two-day trial at the Hunters after he arrived in Yingkou, Liaoning Province, on November 30. Despite his superb skills and accurate shooting, his physical condition let the Liaoning club down.

"Football for Hope" Held amid FIFA U-20 Women's World Cup

The Football for Hope movement was launched on Wednesday as a part of the U-20 Women's World Cup being held in Chile. The movement, led by soccer's world governing body FIFA, is aimed to create a better future through the medium of soccer. Harold Mayne-Nicholls, President of the Soccer Federation of Chile, together with FIFA officials, attended the opening ceremony. Mayne-Nicholls stressed the need of fulfilling soccer's social role to boost the friendship among the youth. More than 200 youngsters aged between 15 and 21 will participate in the four-day project.

Djokovic Confirms First ATP Event in Serbia

World number three Novak Djokovic confirmed on Wednesday that the first ATP tennis tournament to be staged in Serbia will take place next May after his family bought the licence of the ABN Amro Open previously held in the Netherlands. A prize money of 500,000 U.S. dollars will be on offer in the tournament to be directed by Nikola Pilic. The 21-year-old Serb said he would aim to bring top-ranked players to the ATP event between Masters Series events in Rome and Madrid next May.

Entertainment News

Zhao Wei, Zhou Xun at "Painted Skin" Taiwan Premiere

Chinese actresses Zhao Wei and Zhou Xun attended the Taiwan premiere of "Painted Skin" in Taipei' Ximenting area on Wednesday night. Zhao Wei donned a bottle-green dress and wore jewelries which were reported to be worth 12 million yuan. The two A-list stars will be guest presenters for the Golden Horse awards ceremony this Saturday, local media reported. "Painted Skin" grabbed about 240 million yuan on the Chinese mainland and ranks the fifth place in mainland's box office record for domestic movies. It is also Hong Kong's official entry to this year's Academy Awards.

Bai Yansong Tops Public Satisfaction on Host Survey Ranking

The 2nd Public Satisfaction Selection on China's celebrities ranked CCTV host Bai Yansong at number one on the host list. Entertainment program hostess Li Xiang, however, came in last "as always" with a considerable score margin. It is the first time for the survey to cover TV hosts. Bai Yansong, with a score as high as 814.43, may also take the top spot on the survey's lists of celebrities' public satisfaction. The survey, launched by Lian Xin Power Survey, a prestigious domestic survey agency, assessed the performances of about 700 celebrities this year.

Lil Wayne, Coldplay Lead Brit-Heavy Grammy Field

Rapper Lil Wayne, whose new album was the biggest seller of the year, led the field of Grammy contenders, while rock bands Coldplay and Radiohead led a British invasion of the music industry's top honors. Lil Wayne, whose real name is Dwayne Michael Carter, scored eight nominations, while Coldplay followed with seven, organizers said on Wednesday. Three acts were each nominated for six -- rappers Kanye West and Jay-Z, and R&B singer Ne-Yo.

Sundance Fest Unveils Competition Films

The Sundance Film Festival, the premiere event for U.S. independent movies, on Wednesday unveiled a wide-ranging list of more than 60 movies that will compete for awards at its 25th anniversary event in January. The festival, backed by Robert Redford's Sundance Institute for filmmaking, puts the media spotlight on low-budget and art films made outside Hollywood's mainstream studios. Past Sundance hits include Oscar-nominated "Little Miss Sunshine", and the festival annually boosts the careers of previously little-known actors, directors and writers.