Chinese FM stresses joint effort with ASEAN to maintain peace in South China Sea

China has called on ASEAN countries to make joint effort to maintain peace in the South China Sea. 

Chinese Foreign Minister Yang Jiechi told a joint press conference with his Indonesian counterpart Marty Natalegawa in Jakarta that to maintain peace and stability in the South China Sea is the shared responsibility of all countries in the region.

He said China is willing to work with Indonesia and other ASEAN countries to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea, build mutual trust, promote cooperation and maintain peace and stability in the South China Sea.

Earlier Friday, Yang Jiechi held talks with Indonesian president Susilo Bambang Yudhoyono to discuss deepening the all-round strategic cooperation between the two countries.

 

40 killed as bus falls into gorge in N. India

At least 40 people were killed and 17 injured Saturday when an overloaded bus fell into a deep gorge in the northern Indian state of Himachal Pradesh.

This is the second deadly bus incident in India in days after over 30 were killed when a bus fell into a gorge in the northeast Indian state of Meghlaya on Wednesday.

 

Romney picks Paul Ryan as VP running mate: media 

U.S. Republican presidential candidate Mitt Romney has picked Wisconsin Rep. Paul Ryan as his vice presidential running mate.

U.S. media report a formal announcement would be made Saturday in Norfolk, Virginia, during a public event aboard the renowned USS Wisconsin, a decommissioned World War II-era warship.

 

Mainland negotiator concludes Taiwan tour after signing agreements 

Chinese mainland negotiator Chen Yunlin has concluded his three-day trip to Taiwan after signing two cross-Strait agreements on investment protection and customs cooperation during talks with his Taiwanese counterpart, marking the eighth round of negotiations since regular cross-Strait talks resumed in 2008.

The two sides signed the two agreements that aim to improve the protection of the rights and interests of cross-Strait investors and promote two-way investment, as well as facilitate customs clearances.

 

Typhoon Haikui affects 330,000 in E China province 

More than 330,000 people in east China's Jiangxi Province have been affected by typhoon Haikui.

Local authorities say typhoon-triggered torrential rainstorms have battered Jiangxi over the past few days. Over 33 thousand residents have been relocated in the province. 

The water level of Poyang Lake, the country's largest freshwater lake, stood at 19.2 meters, 0.20 meter over the alert level and 2.25 meters higher than the average annual level. 

Haikui, the 11th typhoon of the year, was the third typhoon to wallop China's eastern coast in a week, after storms Saola and Damrey hit the region over the weekend.

 

Death toll in E China reservoir breach rises to 11 

Eleven people have been confirmed dead in a flood that occurred ollowing a dam breach in east China's Zhejiang province.

The reservoir's 28.5-meter-high earthen dam collapsed Friday morning, flooding a downstream village. Twenty-seven people were injured in the flood. 

Zhejiang has been lashed by downpours over the last few days with the arrival of typhoon Haikui, which landed in the province early Wednesday morning before moving into neighboring Anhui province.

 

Traffic accidents crippled Chinese insurers last year 

Chinese insurance companies were in the red last year due to road accident-related insurance, as they had to compensate a large number of victims of traffic accidents according to data from the industry association. 

The Insurance Association of China says insurance companies posted a combined loss of 9.2 billion yuan (1.45 billion U.S. dollars) in managing the compulsory auto traffic accident liability insurance.

It says two-billion-yuan in investment revenue from traffic accident liability insurance premiums failed to cover 11billion yuan in claims insurers had to pay last year, leading to the fifth straight year of losses for the insurance product since it was introduced in 2006. 

The country's insurance companies have lost over 17 billion yuan in compulsory insurance over the past five years, according to the IAC.

 

China starts construction on 5.8 mln low-income housing units 

China started building 5.8 million low-income housing units in the first seven months of this year.

The Ministry of Housing and Urban-Rural Development says Construction on 3.6 million affordable homes has been basically completed in the period.

The government has vowed to start construction on more than 7 million low-income housing units this year, part of its five-year plan to build 36 million such units by 2015.

 

Central China produces super-capacity light rail train 

The world's first super-capacity light rail train has been completed in Zhuzhou, central China's Hunan province.

The new type of electric locomotive can be fully charged within 30 seconds during its station stops, as it has a box-type super capacitor on the roof and charge spots at the foot of every compartment.

The train can hold a maximum of 320 passengers and features low energy consumption. It can provide a new solution for the construction of highly cost-effective and environmentally-friendly urban rail public transport.