About 100 domestic and overseas entrepreneurs, scholars and foreign diplomats gathered in Beijing yesterday to attend the closing ceremony of a two-day seminar. The participants exchanged views on challenges and opportunities brought by China's entry into the World Trade Organization, and discussed the issues of how to enter the international market and how to build an international brand, as well as overseas listing and fundraising.

The seminar, aimed at helping promote co-operation between Chinese and foreign firms, was co-organized by the China Council for the Promotion of Regional Development, Beijing Zhihui Research Centre of Enterprise Development and the A C International Group Corp of the United States.

Faster express mail to HK

The State Postal Bureau (China Post) and the post offices in Hong Kong will jointly provide overnight high-speed express mail services (EMS) from today .

The EMS packages collected during the first day will reach clients in Hong Kong and the mainland cities before 10 am the next day. Customers in Beijing, Shanghai and Guangzhou will be the first to enjoy the service, with other major cities ready to join in the near future. China Post said it will refund the service charge if the EMS parcels failed to reach customers before 10 am.

English programme seeks investor

"Modern English," a famous English education programme of Beijing Television Station, is seeking co-operation with investors to set up a chain of English schools. "Modern English" will offer management and teacher training support for the school chain.

A sponsor of the programme said, considering the huge potential in the English education market following China's entry into the World Trade Organization and the unique training model of "Modern English," the schools will be popular among Chinese people.

COSCO signs pact with Boston

China Ocean Shipping (Group) Company (COSCO) and the Massachusetts Port Authority of the United States signed on Thursday a terminal services agreement to bring COSCO ships to the Port of Boston by providing a weekly direct service between Asia and Boston.

The agreement will make Boston a new port-of-call for COSCO, as well as open a new chapter in Sino-US trade, said COSCO President Wei Jiafu at the signing ceremony.

SHANGHAI

City to upgrade power grid

China's leading industrial and commercial city, Shanghai, plans to invest 6.33 billion yuan (US$762 million) this year to modernize its power grid to meet the demand of rapid economic development and social progress.

According to the plan, a power grid with a supply capacity of 32 million kilowatts annually will be established in the city by 2005.

At present, construction of a 500-kilovolt transformer substation and relevant electricity transmission lines is progressing smoothly.

CHENGDU

Plastic factory opens

Work started on Wednesday on China's first 1000-ton production line for polyphenyl thioether in Deyang, in Southwest China's Sichuan Sichuan.

Polyphenyl thioether is a high-performance special plastic with a high degree of toughness, and is erosion, heat and radiation proof. Widely used in the electronics, automobile, electrical appliance, aerospace and aviation industries, at the moment it is manufactured in only a few countries.

HONG KONG

City to host FATF meeting

Hong Kong will host the first Plenary of the Financial Action Task Force on Money Laundering (FATF) at the end of the month, following FATF's adoption of the Plan of Action to combat terrorist financing at the extraordinary plenary meeting held in Washington last October.

Commissioner for Narcotics Clarie Lo, chair of the FATF, made the announcement at a luncheon meeting organized by the Consular Corps on Wednesday.

SEOUL

Tax exemptions to World Cup officials

South Korea plans to exempt income taxes for foreign soccer officials taking part in this year's World Cup finals.

Those benefiting from the plan, drafted on January 18 and made public yesterday, include foreign World Cup staffers, referees and officials from FIFA, the world's soccer governing body.

WASHINGTON

Feds review Enron, Andersen contracts

Top US officials have ordered federal agencies to review contracts worth between US$60 and 70 million with the beleaguered Enron corporation and the Arthur Andersen auditing firm, US news media reported on Saturday.

President George W. Bush's budget director, Mitchell Daniels, sent a letter to top agency officials in charge of government purchases ordering the review because "recent press reports have highlighted potential irregularities in work done" by Enron and Andersen, according to the Chicago Tribune.

ANKARA

1.5 million give up mobile phones

Turkey's faltering economy hit the telecom market hard last year, with nearly 1.5 million people giving up their mobile phones, a report said Saturday. Transport Minister Oktay Vural, cited by the Anatolia news agency, told parliament that 1.489 million people in 2001 terminated their mobile phone subscriptions as the nation battles its worst recession in decades