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BEIJING, July 5 (Xinhua) -- The Chinese government has allocated more than 126 million yuan (about 18.4 U.S. dollars) for disaster relief in six worst rainstorm-hit provinces, autonomous regions or municipalities in south China, the Ministry of Civil Affairs said here Sunday. The six provinces, autonomous regions and municipalities include Guangxi, Jiangxi, Hunan, Hubei, Guizhou and Chongqing. A total of 5,200 tents were also sent to Guangxi, Jiangxi and Hunan to provide shelter for the people displaced there, the ministry said. While Beijing and neighboring provinces are fighting heat waves, the southern half of the country has been drenched in rain or flood since late June. The latest round of rainstorms and flood, also this year's worst according to the ministry, had battered 12 provinces, killing 75 people and leaving another 13 missing and 938,000 homeless as of 4 p.m. Sunday. Close to 40 million people were affected by the rainstorms and the flood, it said, adding that a total of 101,000 houses were toppled in the flood, causing over 13 billion yuan (about 1.9 billion U.S. dollars) in direct economic losses, it said.
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.

MOSCOW, May 13 (Xinhua) -- China's top legislator Wu Bangguo said here Wednesday the strategic partnership of cooperation between China and Russia is currently showing a momentum all-round and rapid growth, as high-level contact remains frequent. Wu said in recent years, China-Russia relations have been lifted to new stages as cooperation in all fields reached an unprecedentedly high level. Russian President Dmitry Medvedev (R) shakes hands with Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC) of China, in Moscow, capital of Russia, May 13, 2009Wu made the remarks as he met with Russian President Dmitri Medvedev Wednesday afternoon. Wu, chairman of the Standing Committee of the National People's Congress (NPC) arrived here for an official goodwill visit Wednesday. Wu conveyed Chinese President Hu Jintao's greetings to Medvedev. He highly appreciated frequent contact between leaders of the two countries, saying Medvedev's visit to China last year contributed to the continuous growth of the strategic partnership between the two countries on a high level. Medvedev said he and Chinese President Hu Jintao had held their first meeting this year during the London G20 summit in April. He expressed the wish that the presidents of the two countries will have more meetings later this year, saying he expects President Hu to pay a state visit to Russia in June. Medvedev also expects to meet with President Hu during the Shanghai Cooperation Organization summit and the summit of "BRIC" countries, namely Brazil, Russia, Indian and China later this year. In order to push for long-term, healthy and stable growth of China-Russia relations, Wu suggested that the two countries should enhance political trust and share mutual understanding and support on major issues concerning each other's core interest. The two countries should maintain consultation and cooperation on regional and international affairs so as to push for multipolarization and democratization of international relations. Wu said the two countries should also strengthen cooperation in such areas as economy, trade, energy, investment and local exchanges. He said the two sides should earnestly carry out the cooperation agreements they have already signed. Wu expressed the wish that the two sides should actively overcome difficulties in progress and practically resolve existing problems in their cooperation so as to secure bilateral trade from the impact of global financial storm this year. Wu said the two countries should step up dialogues and cooperation on financial issues. He said they should maintain close contact and coordination at bilateral and multilateral levels. The two countries should exchange views on maintaining stability of their own financial market and pushing forward reform of the international financial and currency systems, Wu said, adding that China and Russia should join hands to promote the stability of international financial market and rally of global economy. Medvedev said under the current situation, strengthening cooperation between Russia and China is not only conducive to the development of both countries, but also to resumption of world economy and establishment of a new, just and rational international political and economy system. Medvedev said Russia places importance on expanding relations with China and is ready to deepen mutual trust and expand cooperation with China in such fields as energy, trade, investment and local contact. China and Russia are to hold a series of activities to mark the60th anniversary of establishing diplomatic links this year. High-level contact has been growing closer in recent years, as President Hu and President Medvedev met four times last year. Wu and Medvedev jointly stressed the importance of parliamentary exchanges between the two countries, saying the exchanges reflect the high level of development of China-Russia partnership of strategic cooperation. Wu said the high level of China-Russia partnership is fully reflected in such areas as frequent contact between top leaders of the two countries, the staging of "Russian Language Year" in China, the signing of an oil cooperation agreement between the two governments and the exchanges between the NPC and Russian parliament. Medvedev said Wu's visit to Russia reflects the momentum of fast growth in bilateral links. Under the current environment of international financial crisis, coordination between the parliaments of the two countries will be conducive to advancing bilateral cooperation. He said Russia places high importance on parliamentary exchanges and cooperation between the two countries.
BEIJING, May 18 (Xinhua) -- Chinese top leaders met Monday individual delegates from across the country who were awarded honors in Beijing for their dedication to public order. President Hu Jintao, Premier Wen Jiabao, Vice President Xi Jinping, and Zhou Yongkang, chief of the Central Political and Legislative Affairs Committee of the Communist Party of China (CPC), attended the meeting held at the Great Hall of the People. The leaders are all members of the Standing Committee of the Political Bureau of the CPC Central Committee. Zhou said at an awarding ceremony after the meeting that local governments had put great endeavor to maintaining stable social order and public security. He urged Party organs at all levels to take the initiative of blending comprehensive control of social public security with overall economic and social development. The senior official asked local governments to improve their capability of handling public security emergencies and actively prevent potential social conflicts. The Chinese government has carried out a strategy to maintain social order and public security by involving volunteers and Party members in enterprises, offices, universities and even the retirees to help the police authorities with information and supervision on minor conflicts and suspected crimes. At the awarding ceremony which was also viewed nationally by a tele-conference system, outstanding individuals and organizations were given honors for their endeavor and dedication to the country's smooth social order. Zhou encouraged the honored individuals and institutions to have more innovative ideas and methods to promote the overall control of social order. Chinese President Hu Jintao (R, front) meets Monday individual delegates from across the country who were awarded honors in Beijing for their dedication to public order. He stressed that local governments should enhance and expand the grassroots network of the social order's maintaining units and take the advantage of the public's power and wisdom. The local authorities should also pay more attention to educational work and prevention measures in addition to fighting and punishing criminals. By continuing preventative efforts to maintain public security, the governments should improve their abilities of social management and public service, Zhou added.
BEIJING, May 21 (Xinhua) -- Chinese Premier Wen Jiabao attended the 11th China-EU summit with European leaders in Prague on Wednesday, focusing on bilateral strategic partnership, the global financial crisis and climate change. The two sides reached a number of consensus at the summit which will play an active role in promoting a sustainable development of bilateral relations in an in-depth and all-around way. Premier Wen stayed in Prague for a mere of five hours, but needed a 20-hour flight to go forth and back, indicating his sincerity, responsibility and confidence in meeting with the EU leaders. Sincerity, responsibility and confidence are crucial in pushing forward the comprehensive China-EU strategic partnership, which is the experience drawn from the past and the need of reality. Under the complex international political and economic situation, the China-EU relations have gone beyond the bilateral scope and bears more international significance. China and the EU enjoy a solid basis in continuing cooperation and meeting challenges jointly. Up to now, the two sides have set up more than 50 consultation and dialogue mechanisms covering political, trade, scientific, energy and environmental areas. It is not worthy that the China-EU trade volume exceeded 425 billion U.S. dollars in 2008 in face of global slump, representing a 19.5-percent growth over the previous year. At a time when the raging financial storm hit the world, the major tune for bilateral ties should be mutual support. Just as what EU Commission President Jose Barroso described, China is a "crucial partner" in international efforts to counter global challenges, such as the economic and financial crisis and climate change. Challenge also generates opportunities while posing danger to the world. When the financial crisis is raging, it also serves as a opportunity for both sides to forge stronger ties. During the just concluded 11th China-EU summit in Prague, the two sides signed three agreements on cooperation in clean energy, science and technology, and small and medium-sized enterprises. Wen also announced at the summit that China will send another buying mission to the EU to increase imports from Europe, a pragmatic action of China to fight against protectionism. It also signals Beijing's confidence to jointly tackle the global financial crisis with EU partners. As the world's largest developing country and the largest bloc of developed nations respectively, China and EU need to develop steadily by clearing obstacles first, thanks to the fact that both sides enjoy huge potential and broad prospects for further cooperation. EU should recognize China's market economy status as soon as possible, loosen its control over export restrictions on high-techproducts and lift its arms embargo to China, measures which will be conducive to nurturing new growth engines for trade and economic cooperation and expanding fields of cooperation. Since the first China-EU summit in 1998, the international political and economic situation has experienced profound changes. In this context, the strategic and mutually beneficial partnership between the two sides has been expanded rapidly, further deepened and consolidated. As the China-EU Summit enters a new decade, it is believed that the China-EU relations will constantly move ahead as long as both sides work together in a forward-looking manner, adhere to the principle of mutual respect, non-interference in each other's internal affairs, take into consideration of each other's core concerns and properly handle sensitive issues to refrain from harming bilateral ties by individual incidents.
来源:资阳报