China to Launch Trainee Program for 1 mln Unemployed College Graduates
According to a circular issued by the State Council's general office on Sunday (Feb 15), China is to launch a graduate trainee program for one million unemployed college graduates over the next three years. The program doesn't suggest a fixed length or pay scale for the training, demands that the local governments and organizations which provide such training, offer a basic living subsidy to trainees. Besides the trainee program, the government is also to enhance technical training for students in vocational schools, with a "double certificate" program. According to the program, schools should help students get technical qualification certificates when they leave school, in addition to their graduate certificates. 

China Starts Mass Production of Home-grown Jet
China's state-owned Shanghai Aircraft Manufacturing Corporation said on Friday (Feb.13) it had signed contracts with four other factories, in order to kick-off mass production of the country's first domestically developed regional jet, the ARJ21-700. The four companies are the Avici Commercial Aircraft Co Ltd (ACAC) and aircraft component factories in Chengdu, Xi'an and Shenyang. ACAC will produce the main bodies, while the other three will make the wings and other various parts. According to Luo Ronghuai, deputy general manager of ACAC, up until now, there are 208 orders for ARJ21 jets from foreign and domestic customers, including an order for 25 aircrafts from the US-based GE Commercial Aviation Services.

(Photo from:xinhua.net)

G7 Rejects Protectionism, Urges Measures to Back Growth
The Group of Seven (G7)'s finance ministers and central bank governors met in Rome on Friday and Saturday to discuss the global economic down-turn and identify possible solutions to ease the financial crisis. In a final joint communique released Saturday, representatives from the world's leading industrialized nations -- the United States, Germany, Japan, France, Italy, Great Britain, and Canada -- rejected all sorts of protectionist measures. They pledged to sustain employment and economic growth and, at the same time, strengthen the banking system. The finance ministers and central bank governors stressed they will do all they can to fight recession and avoid distorting free trade.