Society

Chinese Commerce Minister Chen Deming said on Friday that China will maintain its exports of rare earths in 2011, denying reports that China would significantly reduce its export quotas.

At a signing ceremony of cooperation agreements with France, Chen said China has shut down or suspended the operation of some rare earth mines, which failed to meet environmental protection regulations.

However, the measure aimed at preventing environmental damages due to over-exploitation and reckless mining has been politicized by some Western media, he said.

The Walt Disney Co has signed an agreement with a Shanghai company for the establishment of a Disneyland theme park in the city, bringing its long-planned park in mainland China closer to fruition.

The deal was reached with Shanghai Shendi Group, which was specifically created for the development of the Disneyland project, the Xinhua news agency said on Friday.

Disney confirmed the Xinhua report and said it was awaiting final approval from China's central government regarding the incorporation of the related joint venture companies and the completion of regulatory procedures.

"For quite some time, we have been involved in discussions with the Shanghai government about building a Disney theme park. We can confirm the statement from the Shanghai government that we have taken another step forward in the approval process," a Disney spokeswoman said in an emailed statement to Reuters.

Shanghai's Disneyland is expected to cover about 4 square kilometers (1.5 square miles) and cost about 25 billion yuan ($3.75 billion), Xinhua said. Following the announcement, speculation about possible construction contracts helped lift shares of several building companies, including Shanghai Pudong Road and Bridge Construction Co, which rose 9 percent.

It was not clear what the ownership structure of the park would be like, but Chinese media reported last year that an investment company controlled by the Shanghai municipal government would own a majority stake in the park.

Disney itself gave no further details.

Disney's foray into the China market has been mixed so far. Its Hong Kong Disneyland park, which opened to great fanfare, reported a loss last year and has at times struggled to attract as many visitors as hoped. Disney runs two other parks outside the United States, in Paris and Tokyo.

Disney has long sought to build in Shanghai, a wealthy city of about 20 million people that is ringed by the prosperous Yangtze River Delta, home to tens of millions more potential visitors.

For Disney and other media companies, China's 1.4 billion residents, and its growing middle class and powerful economy, have made it a compelling investment spot. But it also has proven to be a difficult place to conduct business, with the government hesitant to allow too much foreign influence in media and popular culture.

For Disney, building the park in Shanghai caps years of on-and-off talks with Chinese authorities. A deal was finally outlined a year ago and was seen as a springboard for Disney to market and promote the rest of the entertainment business, from merchandise to film and television.

Disney's Parks and Resorts division, which has roots stretching back to the early 1950s, accounts for roughly one-quarter of the company's sales. But the division has faced headwinds in recent quarters as the economic downturn has hurt attendance and hotel occupancy, particularly at its US resorts.

Shares of Disney were up 15 cents at $37.18 in morning trade on the New York Stock Exchange.

According to Jilin Provincial press conference, the plaza fire on 5^th November cause 19 deaths and 27 wounded persons.

When Mireille Gingras made her first trip to China six years ago, Xian Ping Lu was exactly the sort of person she was hoping to meet, and the company he had founded -- Chipscreen Biosciences -- just the sort she wanted to do business with. She just hadn't been sure they existed.

The Montreal-born neurobiologist had started her own San Diego consulting firm, HUYA Bioscience, which tried to help Big Pharma and biotech firms latch on to promising early-stage drug developments across the globe.

China hadn't been on her radar back then. For the pharmaceutical and biotech industries -- just like toys or consumer electronics -- China was (and to a large extent still is) a source of inexpensive products that can be sold, as Wal-Mart (WMT) might put it, "for everyday low prices." China has been an increasing source of generic drug development for pharma, but not the kind of research-intensive, expensive-to-develop medicines that are the stuff of patents and high profit margins. "People didn't think there was anything happening there back then," Gingras says.