1 of 2. The China Central Television (CCTV) building is seen next to a construction site in heavy haze in Beijing's central business district in this January 14, 2013 file photo.

BEIJING | Sun Jan 20, 2013 12:11am EST

BEIJING (Reuters) - Beijing is to unveil unprecedented new rules governing how China's capital reacts to hazardous air pollution, the official Xinhua news agency said, as deteriorating air quality threatens to become a rallying point for wider political dissatisfaction.

The rules will formalize previous ad-hoc measures, including shutting down factories, cutting back on burning coal and taking certain vehicle classes off the roads on days when pollution hits unacceptable levels.

Air quality in Beijing, on many days degrees of magnitude below minimum international health standards for breathability, is of increasing concern to China's leadership because it plays into popular resentment over political privilege and rising inequality in the world's second-largest economy.

Domestic media have run stories describing the expensive air purifiers government officials enjoy in their homes and offices, alongside reports of special organic farms so cadres need not risk suffering from recurring food safety scandals.

Smog blanketed most of the city from late Friday, prompting the government to warn people to reduce outdoor activities.

On Saturday, an index measuring PM2.5, or particulate matter with a diameter of 2.5 micrometers (PM2.5), rose as high as 400 in some parts in the city. A level above 300 is considered hazardous, while the World Health Organization recommends a daily level of no more than 20.

The reading was still lower than last weekend, when it hit a staggering 755.

Lung cancer rates in the city have shot upward by 60 percent in the last decade, according to a report by the state-run China Daily in 2011, even as smoking rates have flattened out.

The pollution has also deterred foreigners from living and working in "Greyjing". Now it appears that the government has adopted a more transparent approach to addressing the problem than in the past.

Officials once tried to spin the city's poor air quality by not including PM2.5 readings in reports and referring to smog as "fog" in weather reports. One official accused the U.S. embassy in Beijing of meddling in China's internal affairs for publishing its own PM2.5 readings online.

But this time around, state media appears to have been cleared to cover pollution as a major problem.

Vice Premier Li Keqiang, who is expected to take over as premier in March, said earlier this week that tackling pollution would be a long-term process.

(Reporting by Kevin Yao; Writing by Pete Sweeney; Editing by Nick Macfie)

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Thu Sep 27, 2012 6:00am EDT

n">(Reuters) - Affluent Americans feel more in control of their finances and say they are less conservative with their investments than they were a year ago, according to a bi-annual survey released on Thursday by Merrill Lynch Global Wealth Management.

Wealthier investors recognize there is likely to be more volatility ahead thanks to the November U.S. elections, the looming fiscal cliff and continued uncertainty in the European Union, but they feel confident when it comes to their personal finances, said Ted Durkin, head of the Merrill Lynch Affluent Client Segment.

That uptick of confidence came in part from changes affluent investors have made in their financial lives.

Those participating in the August poll of 1,000 people with investable assets of over $250,000 said they are living more within their means, making more joint investment decisions with their spouses and setting tangible goals for their future.

"People have done a great job of controlling what they can control," Durkin said.

Thirty percent of wealthy investors described their investing approach as conservative this year - down from 36 percent in 2011 and 50 percent in 2010.

That shift may be, in part, because investors have become used to volatility, not because they see tangible improvements in the economy. Almost half of the respondents said they see economic uncertainty as a "new normal" that will be here for the foreseeable future.

Younger affluent investors are more confident. Nearly two-thirds of those between 18 and 34 years of age said they think their financial situation will improve next year, citing an ability to take advantage of investment opportunities.

Tony Montanari, a financial adviser who manages $26 million in client assets for Charlotte, North Carolina-based ACM Wealth Management, agreed that the wealthy are getting more aggressive in their investments. But, he said, they might be disappointed.

"People should have been the most aggressive and the least conservative four years ago when the market bottomed," he said.

Heather Walsh, a financial adviser with Merrill based in Burlington, Massachusetts, said she's stressing to her clients that even though the markets have improved, it's critical to stay focused on budgeting and saving. That, in turn, can make them less reliant on unrealistic market returns, said Walsh, whose team manages $500 million in client assets.

That message may resonate with wealthier investors. Despite increased confidence in their financial situation, four out of five of those polled in Merrill's survey said they were concerned about accomplishing certain financial goals, like having enough money to sustain their lifestyle in retirement and buying their dream home.

And only 38 percent of parents paid or plan to pay the full cost of their children's college education, down from nearly 48 percent a year ago.

(Reporting By Jennifer Hoyt Cummings; Editing by Jennifer Merritt; Twitter @jenhoytcummings)

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