Xinhua reported on Thursday that Wang made the remarks during a State Council teleconference on the implementation of the country's new Tourism Law.

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During a lull in the conversation, Wang points to an antique earthenware pot sitting on a lacquered stand.

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In the first 11 months of 2012, the 80 major steel makers posted a loss of 1.97 billion yuan, said Wang Qinghai, chairman of the association, during a meeting this weekend.

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In a new paper, Jingzhi Huang of Penn State University and Ying Wang of SUNY-Albany examined the performance of 73 hedge fund-like mutual funds during the 2007 financial crisis.

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