BEIJING, Dec. 31 (Xinhua) — China’s total lottery sales in 2007 had exceeded 100 billion yuan (some 13.7 billion U.S. dollars) by Sunday, an increase of 18 billion yuan or 20 percent over last year, setting a 20-year record in China’s lottery history.

    Of the total sales, 62 billion yuan went to social welfare lottery while 38 billion yuan belonged to sports lottery, according to the latest issue of the China Philanthropy Times.

    2007 is the 20th anniversary of the launching of lottery in China, over the years lottery has contributed considerably to the country’s social welfare, philanthropy and public sports, the report said.

    In 1987, the first year of lottery issuance, the sales was barely 17.40 million yuan, they it enjoyed a steady year-on-year growth. In 2006, it reached 81.93 billion yuan.

    Lottery experts held that, compared with Western countries, China’s lottery business still lags far behind but has far greater potentials.

    BEIJING, Dec. 31 (Xinhua) — China’s self-developed commuter aircraft, the Modern Ark 60 (MA60), has received new purchasing or leasing orders of 20 aircraft over the weekend to make its total orders to 116.

    The China Aviation Industry Corporation I (AVIC1) announced Sunday that its subsidiary, the Xi’an Aircraft Industry (Group) Company. Ltd.(XAC), has signed contracts with Yunnan Ying’an Airlines and AVIC1 Leasing Company for the purchasing and leasing of the 20 MA60 twin turbo-prop commuters.

    Of the 20 planes, 10 are purchasing and leasing contracts while the other half are orders of intent. The first 10 planes will be delivered in three batches starting in May 2008.

    MA60 is the most successful civil aviation aircraft developed by China so far. It has a maximum take-off weight of 21,800 kg and a seating capacity of up to 60 passengers.

    The XAC said the plane has been designed and developed according to the requirements of CCAR-25 and FAR-25, it’s safety, reliability, comfort, economy and maintainability have reached to or are close to the level of similar advanced commuter aircraft in the world.

    MA60 has been exported to Zimbabwe, Zambia, Indonesia and other countries.

    BEIJING, Dec. 31 — This year, the world discovered the Chinese stock market.

    Investors in China poured their money into shares like never before, sending the market on a turbulent, stunning, record-breaking ride.

    And around the world, people took notice: In February, for the first time ever, a plunge in Chinese stocks helped trigger a global market sell-off, suggesting the potential sway this heretofore ignored market will have in years to come.

    China’s market quickly recovered and the Shanghai Composite index went on to soar 97 percent this year, making it the world’s best-performing major benchmark index.

    But the year ahead isn’t going to be as rewarding, analysts say, and the volatility will likely continue.

    ”It was a nice rally,” UBS economist Jonathan Anderson wrote in a recent report. The market in 2008 “may not be nearly as exciting.”

An investor walks past an electronic board at a stock exchange in Nanjing in east China’s Jiangsu province Nov. 14, 2007.  (Photo: China Daily/Agencies)

    While many Chinese believe that authorities will to try to keep the markets on an even keel ahead of the Beijing Olympics in August, other risks loom.

    Beijing is struggling to keep inflation in check and could continue to raise interest rates. Also, the mortgage crisis in the US has raised the risk of a recession that might sap demand for Chinese exports.

    Jason Zhou, 37, is among the legions of Chinese stock investors who were chastened by the market’s roller-coaster performance this year.

    Zhou, who works for a foreign trade company in Shanghai, bought shares in oil and gas giant PetroChina just after it listed shares on the Shanghai Stock Exchange in November at 43 yuan (5.90 U.S. dollars).

    Normally, such elite companies have seen huge, sustained gains after IPOs on domestic bourses.

    But PetroChina, whose market value, according to some methods of calculation briefly surpassed US$1 trillion after its local market debut, has fallen back to just above 30 yuan (4.10 U.S. dollars) per share, still nearly twice its IPO price.

    Zhou cut his losses and sold when the shares fell to 38 yuan (about 5.20 U.S. dollars)

    ”The loss is not huge, but it’s impressive enough,” Zhou says. “This was not a pleasant experience.”

    Neither was the 8.8 percent plunge in the Shanghai index on Feb. 27, which spooked investors around the world and was one of several gut-wrenching drops this year.

    In another sign of the Chinese mainland’s growing market muscle, Shanghai became the second most popular place for initial public offerings behind New York as companies raised 48.62 billion U.S. dollars through November, according to the World Federation of Exchanges.

    That surpassed the 31.81 billion U.S. dollars raised in IPOs in Hong Kong and the 43.47 billion U.S. dollars chalked up in London during the 11-month period, the federation’s numbers show. Only the New York Stock Exchange, with 52.06  billion U.S. dollars, had more.

    (Source: China Daily/Agencies)

China shares ease on 2007’s last trading day amid concern over Bhutto’s death

   BEIJING, Dec. 28 (Xinhua) — Chinese shares ended the 2007 trading year lower on Friday, in line with world markets, following the assassination overnight of Pakistani opposition leader Benazir Bhutto.

    After gaining 2,586.09 points since the last trading day of 2006, the benchmark Shanghai Composite Index dropped 0.89 percent, or 47.3 points, to close at 5,261.56 points. Full story

Chinese shares drop on year’s last trading day

    BEIJING, Dec. 28 (Xinhua) — Chinese share prices closed lower on Friday with the benchmark Shanghai Composite Index dropping 0.89 percent, or 47.3 points, to close at 5,261.56 points.

    The index was pulled down by the international market on the last trading day of 2007 after gaining more than 470 points since Dec. 18. Full story

Chinese shares keep up rising for 3rd day

    BEIJING, Dec. 21 (Xinhua) — Chinese shares rose for the third day in a row on Friday, as investors shrugged off the sixth interest rate hike this year.

    The central bank raised the benchmark one-year deposit rate by 0.27 percentage points and the lending rate by 0.18 percentage points late on Thursday, in a fresh move to curb inflation and cool the sizzling economy. Full story

Chinese top leaders Hu Jintao, Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang pose with performers of a Beijing Opera show celebrating the New Year, in Beijing, capital city of China, on Dec. 30, 2007. (Xinhua Photo)

    BEIJING, Dec. 30 (Xinhua) — A Beijing Opera concert was held here Sunday evening at the newly inaugurated National Center for the Performing Arts to celebrate the upcoming New Year’s Day.

    Top Chinese leaders Hu Jintao, Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang attended the concert.

    During the concert, a number of China’s leading performers staged pieces from both traditional repertoires and modern plays.

    BEIJING, Dec. 30 (Xinhua) — Shanghai GM, a joint venture with General Motors, is recalling 7,056 Buick cars in China due to front brake problems, China’s top quality watchdog said.

    Involved are some of the Buick LaCrosse sedans made between March 10, 2006 and March 22, 2007.

    ”The problem may cause vehicle vibrations in a minority of cases, affecting manipulation and comfort,” the General Administration of Quality Supervision, Inspection and Quarantine said.

    Shanghai GM will contact the buyers and repair the problematic parts free of charge.

    Shanghai GM, the Detroit-based automaker’s venture with Shanghai Automotive Industry Corp., China’s biggest carmakers, also produces the Cadillac and Chevrolet cars.

    The joint venture was China’s No. 1 passenger vehicle producers last year, with sales of 413,400.

    BEIJING, Dec. 30 (Xinhua) — The 10th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) held its 49th meeting of the chairman and vice chairpersons on Sunday, to propose that the First Session of the 11th CPPCC National Committee would open on Mar. 3, 2008.

    The proposal was included in a draft resolution that will be handed over to the forthcoming 20th meeting of the Standing Committee of the 10th CPPCC National Committee for checking.

    The CPPCC National Committee, the top advisory body in China, elects new leaders every five years. The current leaders of the 10th CPPCC National Committee were elected in March, 2003.