China to Launch Lunar Landing Program in 2004: Official...Next Phase Of Huge Water Diversion Underway...HK Confirms Extension of Individual Visit Scheme...China's Grid Giant to Issue Bonds...China's Grid Giant to Issue Bonds...  
 
China plans to kick off its unmanned lunar landing program in 2004 with hopes of launching a lunar satellite by 2007.

A senior Chinese space official says the satellite, part of the three-stage program, will be followed by the landing of an unmanned vehicle on the Moon in the second stage by 2010 and the collection of samples of lunar soil will begin in 2020 marking the final stage.

But he says the last two stages are still under review by scientists and have yet to receive official approval.

The satellite project is designed to obtain three-dimensional images of the moon's surface, analyze the elements and materials on the surface, and probe the depth of the lunar soil and the space environment between the Earth and the Moon.

*********
China has started the central part of the south-to-north water diversion project, designed to ease the severe water shortage around Beijing.

The central section of the project, expected to attract investment of 11 billion US dollars in its first phase, aims to divert water from the Yangtze River to Beijing by 2010.

Up to nearly 50 billion cubic meters of water will be diverted through three canals to the north, an amount comparable to the regular annual volume of the Yellow River.

About 90 percent of the plain around Beijing will need the diverted water on the completion of the central section project.

*********
Hong Kong has confirmed that citizens in six more cities of Guangdong Province together with another 10 Chinese mainland cities can visit Hong Kong as individual visitors from the first day of next year.

At present, the scheme is implemented in 10 Chinese mainland cities including Guangzhou, Beijing and Shanghai.

Residents with permanent household registration in these cities can apply for an individual visit endorsement from their local Public Security Bureau to visit Hong Kong.

The Hong Kong Tourism Board is working with the travel trade to keep visitors abreast of activities and attractions in the city.

*********
China's largest state-owned power grid operator, the State Grid Corporation, will issue five billion yuan or about 600 million US dollars in bonds to fund the construction of new generating projects.

The bonds will be issued publicly from the last day of this year to mid-January.

Both fixed rate bonds and floating rate bonds will be issued and the interest paid every year will be higher than bank deposit rates for the same period.

The State Grid Corporation will be the first Chinese electricity firm to issue bonds.

*********
China's largest state-owned power grid operator, the State Grid Corporation, will issue five billion yuan or about 600 million US dollars in bonds to fund the construction of new generating projects.

The bonds will be issued publicly from Wednesday to January 14th next year. Both fixed rate bonds and floating rate bonds will be issued and the interest paid every year will be higher than bank deposit rates for the same period.

The State Grid Corporation will be the first Chinese electricity firm to issue bonds.