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With compensation from the government of the Qing Dynasty (1644-1911), the missionaries built the Cizhong Church. It was completed in 1914 and became the main church of the Yunnan parish. The three-storey clock tower of Cizhong Church is a Gothic building, but its top floor is of Chinese pavilion style, covered with glazed tiles. On the top floor, one can enjoy a bird's eye view of Cizhong Village. Though foreign missionaries left in the early 1950s, Catholicism had taken root in Cizhong. Today there are 233 households in the village. Of the 130 households on the west side of the Lancang River, where the church is located, 89 are Catholics. Though both Catholics and Tibetan-Buddhists live in Cizhong, there seems not to be a distinct boundary between them, as all villagers, wh

With compensation from the government of the Qing Dynasty (1644-1911), the missionaries built the Cizhong Church. It was completed in 1914 and became the main church of the Yunnan parish. The three-storey clock tower of Cizhong Church is a Gothic building, but its top floor is of Chinese pavilion style, covered with glazed tiles. On the top floor, one can enjoy a bird's eye view of Cizhong Village. Though foreign missionaries left in the early 1950s, Catholicism had taken root in Cizhong. Today there are 233 households in the village. Of the 130 households on the west side of the Lancang River, where the church is located, 89 are Catholics. Though both Catholics and Tibetan-Buddhists live in Cizhong, there seems not to be a distinct boundary between them, as all villagers, whether Catholics or Buddhists, celebrate religious festivals together. "On Christmas, the Buddhists help us prepare the celebration, and they sing, dance and eat with us. The only difference is that they don't go to church to pray," said Hansen. "It's similar for us on Buddhist festivals." On Christmas Eve, a fire was lit before the church. Villagers, no matter what religion, age, or gender, formed a circle around the fire to sing and dance. "Our guests from afar have come a long way. On this auspicious day, we meet at the Catholic Church. It is by God's mercy that we can celebrate Christmas together" Xianzi, a form of song and dance popular among the Tibetans living in Yunnan, was used to express a Christian theme, and such songs were sung by Catholics and Buddhists together. The party reached a climax when Santa Claus appeared. Played by Austin, president of the church, Santa Claus brought gifts for the children. People went on singing and dancing around the fire until midnight, when firecrackers were set off declaring time for Mass. Then the villagers swarmed into the church. There is no regular priest in Cizhong. For this year's Christmas, the village invited Father Yang Hongchang from Dali to hold the Mass.

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Yang, himself of the Miao ethnic group, is experienced in working with minority Catholics. "In the western part of Yunnan, almost all Catholics are minority people," said Yang. "I have been to villages where there is no electricity, and no road." Language is a problem in Yang's work. For many villagers of Cizhong, only a part of his sermon in putonghua could be understood, but Yang said that even if some people couldn't fully understand what he said, they could feel God in their hearts. "For all the people in the world who believe in Jesus Christ, today is a jubilant day," said Yang. Customs and habits of minority people can be another problem. During Mass, non-Catholics were still singing and dancing outside the church, while some Catholics, having drunk too much wine, forgot Mass and kept singing and dancing too. "Later I criticized those church members who forgot Mass," said Yang. "A Catholic can drink wine, but shouldn't drink too much, or it will cause trouble." When the French missionaries brought Catholicism, they also brought seeds of vines and techniques for brewing wine. Today planting grapes and brewing wine still brings important income for the villagers. The wine used in Mass was also locally brewed. During Mass, the villagers read scriptures and sang chants in Tibetan language, but the texts they used were written in Chinese characters. Most people in the church held in their hands such a book of scriptures and chants, the cover of which has a picture of the church.

Xiao Jieyi, 76, is probably the person in Cizhong whose life is most closely associated with the church, for he was born in it. Xiao's father, a Han Catholic from Sichuan Province, followed foreign missionaries to Cizhong and met Xiao's Tibetan mother here. They got married in the church and lived in the church for 25 years. Because the influence of his father, who worked as a translator for the foreign missionaries, Xiao not only speaks Chinese and Tibetan, but also learned French and Latin. In the 1990s, seeing that many young church members did not know how to read scriptures, Xiao began to transliterate Tibetan scriptures and chants into Chinese characters. With the help of many old church members, the book was completed in 2002. "I'm so glad that everybody can read scriptures and sing chants now," said Xiao, who often led the church members in reading and chanting. When the Tibetan Catholic chants echoed in the church, the resonant voice of men and penetrating voice of women could be heard from afar.

转自http://www.chinadaily.com.cn/en/home/index.html中国日报英文版

U.S. mortgage watchers worry about China FX move

China's recent signal that it may diversify its foreign investments in 2006 has mortgage industry watchers concerned that if China buys fewer U.S. Treasury securities this year, it may drive interest rates higher and pour more cold water on the real estate market.

Last week, China's foreign currency regulator said its plans for 2006 include "actively exploring more efficient use of our FX (foreign-exchange) reserve assets" and "widening the foreign exchange reserves investment scope."

While China's central bank said Tuesday it has no plans to sell dollars from its $800 billion-plus foreign reserves, some analysts predict China may buy less U.S. government debt at Treasury auctions this year.

Like Japan, China is a large buyer of U.S. Treasuries and other U.S. debt such as securities issued by housing agencies Freddie Mac and Fannie Mae. China sees the U.S. debt market as stable and liquid versus other countries' debt and its purchases have helped keep U.S. interest rates relatively low in recent years.

While it is not certain exactly how a drop in China's demand for U.S. government debt would show up, Ken Hackel, chief fixed income analyst at RBS Greenwich Capital Markets, believes there could fewer purchases of five- and 10-year U.S. government notes at regular U.S. Treasury auctions

As a result, "there may be somewhat higher yields ... over time," Hackel said. He added that China likely won't completely exit the U.S. government debt market, but merely pare back its buying.

Home mortgage rates are closely tied to Treasury rates and any rise in the cost of borrowing could further slow home sales. A series of increases in the overnight bank lending rate by the Federal Reserve since 2004 has already made adjustable-rate mortgages more pricey. Further rises in the yield of 10-year Treasury notes, which lenders use as a benchmark for rates they charge for 15- and 30-year fixed-rate mortgages, could make those mortgages more expensive as well.

Last week, 30-year mortgages averaged 6.21 percent, up from 5.77 percent a year ago, according to Freddie Mac.

"If it comes to pass that long-term Treasury yields are higher, that means that mortgage rates will become more expensive for consumers," said Frank Nothaft, chief economist at Freddie Mac, one of two housing agencies chartered by Congress to help lenders resell their mortgages on Wall Street.

"The added burden of a rise in interest rates, even a small one, is of no help" to consumers or their lenders, said Keith Gumbinger of HSH Associates, which tracks mortgage rates

While China has signaled a shift in its buying patterns, it likely won't completely abandon U.S. dollar denominated assets like debt issued by Fannie Mae and Freddie Mac.

"They (China) ship a lot of goods to Wal-Mart. Wal-Mart pays for these goods in dollars and manufacturers in China trade these for China's local currency and eventually the dollars work their way into China's central bank," said Chris Low, chief economist at FTN Financial.