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March

An International Automobile city will break ground in Jiading District in northern Shanghai Later this year. Shanghai will invest 35 billion yuan ($4.22 billion) in car production in the coming five years and the output value of the sector is expected to reach 150 billion yuan ($18 billion) by year 2005, accounting for 14 percent of the city's total industrial output value. China Telecom has set up a research and development centre in Shanghai, a major move to increase its capability in telecommunications research. Financial experts in Shanghai believe that the recently legalized B-stock trading for Chinese citizens will be a major source of foreign exchange income for the citizens China's Policy to reduce tariffs has promoted the import of automobiles. China Pacific Insurance Co., Ltd. will underwrite 30 per cent of a 10-billion-yuan ($1.2 billion) Yangtze Three Gorge's Dam project, which involves the installation of the electrical equipment on the left bank of Yangtze river and transportation of some equipment for the project. SIEMENS Shanghai Mobile Communication LTD pass the attestation of ISO 14001 environmental management system recently. Shanghai has launched a project with an investment of more than 40 million yuan ($4.8million) to revamp its downtown underground sewage-discharging pipes. The "lowest living guarantee" system for local residents has been established. Last year, the municipal government invested 300 million yuan ($36 million) to ensure a basic living standard for needy people. Shanghai has started 29 projects to create about 3,900 employment opportunities for local residents. It's the second year for the project, which is expected to increase 100,000 job openings. This year the plan will focus on woman above 40 years old and men above 50. To prepare for the coming travel peak in spring, Shanghai Railway Station will add more trains from Shanghai to Suzhou, Wuxi and Hangzhou during the March-April period. With the coming of a warm season and the "Qingming", a festival to mourn ancestors in front their tombs, the number of travellers is expected to reach 5.8 million in April. Around the "Day of Lei Feng" on March 5, local residents carried out activities to honour the memory of the model, who was ready to help others when he was alive. A 80-sqm board to promote the spirit of Lei Feng was set up recently in the Nanjing Lu. More than 1,200 taxi waited outside some hospitals to pick up patients free of charge.

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