China rehearses parade

    China held a rehearsal* for the September 3 military parade* from Saturday to Sunday in Tian’anmen Square and along Chang’an Avenue in downtown Beijing.

    More than 10,000 servicemen* and servicewomen, about 500 military vehicles and nearly 200 aircraft attended the rehearsal.

    All formations* were present while about 35,000 guests observed the parade.

    Mayor claims responsibility

    The top official of Tianjin on August 19 said he blames himself for the blasts near Tianjin Port on August 12 and claimed “inescapable responsibility” for the tragedy.

    “As the major leader of Tianjin, I have inescapable responsibility for the incident,” he said.

    Huang said companies and individuals found to be involved in the incident, no matter who they are and what connections they have, will be investigated thoroughly and punished according to the law.

    Pension fund in stock market

    China’s State Council published the final guideline on investment for the country’s massive pension fund on Sunday, effectively opening the gate for its investment in the stock market.

    The final plan allows the pension fund to be invested in new products but restricts the maximum proportion of investments in equities* to 30 percent of total net assets*.

    The fund will also be used to participate in major projects and purchase shares in State-owned enterprises.

    Compensation offered

    Family members of the victims of the Eastern Star shipwreck* back in June will receive compensation* worth about 825,000 yuan (US$129,112) per person from local governments.

    Of the Eastern Star’s 456 passengers, 442 died when the vessel capsized* in the Yangtze River.

    Officials said compensation from the government will start to be handed out to family members of the victims in Nanjing starting next week. Nearly 100 of those that died in the Eastern Star shipwreck were from Nanjing.(SD-Agencies)