CHENGDU - Twenty-seven people were missing and eleven others were saved after a bus they were riding in fell into a river in southwest Chinas Sichuan Province Sunday morning, latest information given by the emergency response center with Garze Tibetan Autonomous Prefecture confirmed. The center said that the bus, registered in Aba Tibetan and Qiang Autonomous Prefecture, fell into Dajin River inside Rongchag County of Garze at 10:15 am. The bus, with an approved capacity load of 35 people but carrying 38 people aboard Sunday, was heading for Chengdu, the provincial capital of Sichuan, from Maerkang County of Aba. Rescuers are searching for the missing.
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White LeBron James JerseyIn the more than 80 years since the Chicago Blackhawks inception, the NHL team has become a Chicago institution. Following their introduction onto the ice on November 17, 1926, Chicago Blackhawks tickets have gone from second thought to second to none China would not let the yuan gain against the US dollar in the short term, experts said in Beijing Thursday when commenting on the latest quarterly report of Chinas central bank. Peoples Bank of China (PBOC), the central bank, said Wednesday in its quarterly report of monetary policy, for the first time, that the bank would improve the mechanism of the exchange rate determination based on international capital flows and movements in major currencies. The new wording showed that China would reduce speculation and strengthen risk control in the future, but it did not necessarily suggest a change in the yuans exchange rate policy, said Tan Yaling, an expert with the China Institute for Financial Derivatives at Peking University. The future mechanism would reflect Chinas own concerns and status, she said. Chinas foreign exchange reserves surged to a record $2.27 trillion as of the third quarter of 2009, up 19.26 percent year-on-year, PBOC reported in September. According to Yin Jianfeng, a researcher with the Chinese Academy of Social Sciences (CASS), a government think tank, it is natural for the central bank to pay more attention to increasing international capital inflows. Excessive liquidities are pouring into China as the country is witnessing rapid recovery while the economic condition is still weak in the western world, he said. Related readings: No change in current loose monetary policy: PBOC PBOC likely to adopt a tighter monetary policy: report Yuan, trade risks loom over economy WB chief: Yuan can be alternative reserve currency in 15 years Zuo Xiaolei, chief economist with Galaxy Securities, said the central banks report indicated the government had raised concerns that such inflows would put China under huge external pressure for yuan appreciation. Zuo predicted that as the US dollar depreciates further, excessive liquidity will be a global issue in future, which would in turn pull up Chinas foreign reserve to a new level. China has been facing calls to let its own currency gain against the dollar since it recovered quickly from the financial crisis, especially after it reported the positive economic data of last month, however, experts had expressed different opinions. Sudden upward movement in the yuan would slow Chinas economic growth when the countrys exports just showed signs of recovery, Tan said, All in all, the exchange rate policy should not be subjected to other countries but serve our own economy. Also, the pace of yuans appreciation should be determined not only by the foreign trade surplus, according to Zuo Xiaolei. The balance of Chinas internal development should also be taken into consideration, including the massive stimulus package and the accumulated liabilities of local governments, she said. Chinas exports slid 13.8 percent year-on-year to $110.76 billion in October, said the National Bureau of Statistics Wednesday. The decline rate was 1.4 percentage points lower than that of September. (For more biz stories, please visit Industries) ' ' '