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BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

CHONGQING, June 7 (Xinhua) -- Rescuers on Sunday recovered seven bodies from the debris of Friday's landslide site in southwest China, as the search continued to find the 65 people still missing.     The seven bodies, including five men and two women, were yet to be identified, according to the rescue headquarters.     A brief farewell ceremony was held for the deceased.     Rescuers carried out a second explosion at 11 a.m. Sunday to enable the drilling of holes to send food and air to 27 trapped miners who could still be alive after the massive landslide in Chongqing Municipality. Local militia and firemen stand on the alert prior to the second blasting in Wulong County of southwest China's Chongqing, June 7, 2009. The second blasting was carried out at around 1:00 p.m. Sunday to enable the drilling of a hole 40 meters deep to send food and air to 27 trapped miners who could still be alive after Friday's massive landslide.Three drilling machines were working and staff were setting up a fourth, said Ai Yang, spokesman for the Chongqing municipal government.     More than 400 experts, technicians and rescuers had joined the search and rescue operation at the headquarters, said Ai.     Eighty-five people whose homes were threatened by a barrier lake formed by the landslide would be relocated, said Ai. Those in the affected area downstream of the lake had already been evacuated.     The two entrances of the Jiwei Mountain mine were both buried under rocks when the landslide happened at around 3 p.m. Friday. It also buried an iron ore plant and 12 houses in Tiekuang Township, Wulong County, about 170 kilometers southeast of central Chongqing.     Eight people -- three of them seriously injured -- were rescued late Friday. But 21 residents, the 27 trapped miners and 18 miners who worked above ground, two telecommunications company workers and four passers-by, went missing.     With sniffer dogs and life detectors, hundreds of rescuers found no signs of life on the debris on Saturday, said a spokesman with the rescue headquarters.     The 27 miners are about 150 to 200 meters below ground. The air and a small amount of water in the mine could support them for five to seven days. Water is believed to exist in the shafts as Jiwei Mountain mainly comprised limestone, said the spokesman.     Early Sunday, rescuers completed a 28-km road to the site for large machinery such as excavators and bulldozers. Previously, there was only a simple village road.     "We will do our best and use every second to rescue them," said the spokesman, but the mountain was still quite unstable and the rescue operation was dangerous.     On the basis of aerial photos, experts estimated the volume of the landslide debris at about 12 million cubic meters, said Ai Yang.     "Under such circumstances, every step forward in rescue will need unimaginable caution, manpower and material resources," he said.     "The rock debris just covered the entrance, but there are water channels in the shaft. I believe my husband is still alive," said Chen Yuanmei, a woman at the site.     Chen said she was tending her garden in Hongbao Village, when she saw the rocks slide down, throwing up black dust clouds. The dust lingered around 10 minutes and covered her yard, which is 2 km from the mountain.     She felt something bad had happened and immediately called the mine authorities, but failed to reach them.     The Chongqing Land, Resources and Housing Administration has issued an emergency circular urging districts and counties to organize professional teams to launch a thorough inspection of geological disaster-prone areas.     Chinese Vice Premier Zhang Dejiang inspected the site early Saturday, asking rescuers to try their best while avoiding secondary disasters. Experts have been asked to investigate the cause of the landslide.     The Ministry of Civil Affairs has earmarked 6 million yuan (870,000 U.S. dollars) to the county for relief work.     The money would be mainly used as benefits for the victims' families and relocation of residents, said Ai.     A large helicopter would also join the rescue work to help carry in equipment and personnel early on Monday, he said. 

RAMALLAH, June 23, (Xinhua) -- With more than 30 years of involvement in the work related to the Middle East issue, China's new special envoy to the Middle East Wu Sike said on Tuesday that he'll employ his personal experience on the region to help fulfill his mission.     Wu arrived in the West Bank city of Ramallah on Tuesday, starting the second leg of his first regional tour as China's new special envoy.     Upon his arrival, Wu told Xinhua that Chinese and Palestinian peoples have a traditional friendship, China has been long supporting the righteous Palestinian cause, with the positive sign emerged recently on the peace issue, China, along with the international community, is concerning on how to revive the peace process and push forward the process toward a final solution.     With this concern, Wu said the aim of his trip is to know the attitude and response of all sides involved in the peace process on the newly emerged situation, lay out China's stance on the issue, and exert efforts to boost the process with all sides in coordination.     Touching upon the issue of the internal Palestinian dispute between factions, mainly the rival Fatah and Hamas, Wu said Palestinian unity is crucial to solve the Middle East issue.     "Hamas is a major Palestinian faction, which enjoys strong public support," said the envoy, adding that, "it'll be important if Hamas can take an positive attitude toward the peace process and involved in it."     Wu said China is willing to see the success of the internal Palestinian dialogue, and is ready to make efforts on helping Palestinians to achieve national unity.     Wu, former Chinese ambassador to Egypt, was appointed as the special envoy in March this year to replace Sun Bigan.     He has been director of the Department of West Asian and North African Affairs of the Foreign Ministry, ambassador to Saudi Arabia and Egypt, and also the first Chinese plenipotentiary to the Arab League.     Citing his three-decade long diplomatic experiences in the region, Wu said that he witnessed both the disasters and losses caused by conflicts and the development, stability and opportunities brought by peace tracks between countries in the region.     "The contrast between the two tracks makes me convinced that military confront could not bring about the resolution of the Middle East issue, and the only way out is through peace negotiations," said the envoy.     Bearing the belief, the envoy said he will discuss both his personal experience and China's stance on the Middle East issue with all sides during his mediation, and actively involve in the peace process to fulfill his mission. 

HOTAN, Xinjiang, July 11 (Xinhua) -- Government and Communist Party departments at all levels in Xinjiang Uygur Autonomous Region should rely on the people of all ethnic groups to build a "steel wall" for the region's stability to safeguard the interests of the people, senior Chinese leader Zhou Yongkang said here Saturday.     Zhou, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks on the third day of his visit to Xinjiang. Zhou Yongkang (L front), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China (CPC), shakes hands with a local Uygur farmer in Kashi, northwest China's Xinjiang Uygur Autonomous Region, July 11, 2009. Zhou started an inspection tour in Xinjiang on Thursday. He is the first member of the Political Bureau Standing Committee to visit the region after the July 5 riot in Urumqi, capital of Xinjiang, which caused at least 184 deaths and injured over 1,000 others.     During his visit to Hotan and Kashgar, both in the southern part of Xinjiang, Zhou said the current situation in the region was "heading in a good direction."     But he warned that hostile forces from home and abroad would not give up easily. "They are attempting to stage more sabotage," he said. Zhou Yongkang (2nd R, front), member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China (CPC), visits policemen on duty in Kashi, northwest China's Xinjiang Uygur Autonomous Region, July 11, 2009. Zhou started an inspection tour in Xinjiang on ThursdayZhou urged government and Party departments, troops on duty in the region and public security authorities to stay on high alert, nip all hidden dangers in the bud and focus on ethnic unity education, to foil all sabotage attempts by the hostile forces.     When talking with Uygur farmers during his visit, Zhou said the CPC Central Committee and the State Council have always attached great importance to the development of southern Xinjiang.     He promised that more efforts would be made to improve the living standards of people in southern Xinjiang and infrastructure in the region.

BEIJING, April 30 (Xinhua) -- China hopes to increase cooperation with Vietnam to push forward comprehensive strategic cooperative partnership, said top Chinese political advisor Jia Qinglin on Thursday.     "Stronger Sino-Vietnamese cooperation is significant when facing with international financial crisis," Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, told Vietnamese Deputy Prime Minister Nguyen Thien Nhan in Beijing.     China and Vietnam would hold a friendship year in 2010. "We should grasp the opportunity to promote our friendship," Jia said. Jia Qinglin (front R), chairman of the National Committee of the Chinese People's Political Consultative Conference meets with Vietnamese Deputy Prime Minister Nguyen Thien Nhan (front L), who is also Vietnam's Minister of Education and Training, in Beijing, China, April 30, 2009    The establishment of comprehensive strategic cooperative partnership last year lifted bilateral ties into a new height, said Jia.     Frequent high level contacts, economic cooperation and increasing exchanges brought concrete benefits for the two peoples, he said.     Nhan is also Vietnam's Minister of Education and Training.     Jia hoped the two nations would further expand cooperation in education.     Nhan said Vietnam was ready to work with China to promote cooperation in education, culture, science and technology,.     Chinese State Councilor Liu Yandong also met with Nhan later Thursday.

来源：资阳报