Reports of collapsed schools, 900 feared trapped or killed.

US Geological Survey:
An earthquake occurred 90 km (55 miles) WNW of Chengdu, Sichuan, China and 1545 km (960 miles) SW of BEIJING, Beijing, China at 12:28 AM MDT, May 12, 2008 (2:28 PM local time in China).

90 km (55 miles) WNW of Chengdu, Sichuan, China
150 km (90 miles) WSW of Mianyang, Sichuan, China
360 km (225 miles) WNW of Chongqing, Chongqing, China
1545 km (960 miles) SW of BEIJING, Beijing, China

Magnitude 7.8

CNN:
At least six more earthquakes — measuring between 4.0 and 6.0 magnitudes — happened nearby over the three hours after the initial quake at at 2:28 p.m. local time (0728 GMT, 0228 ET), the USGS reported.

A spokesman for the Beijing Olympic Committee said no Olympic venues were affected by the earthquake. The massive Three Gorges Dam — roughly 400 miles east of the epicenter — was not damaged, a spokesman said.

The earthquake was also felt in Hong Kong, Shanghai, Taiwan, and as far away as Hanoi, Vietnam, and Bangkok, Thailand, according to the Hong Kong-based Mandarin-language channel Phoenix TV.