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BEIJING, July 12 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per U.S. dollar Monday, a new record high, according to the data released by the China Foreign Exchange Trading System.China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.
BEIJING, June 11 (Xinhua) -- China's retail sales, the main gauge of consumer spending in the world's fastest-growing economy, rose 18.7 percent year on year to 1.25 trillion yuan (183 billion U.S. dollars) in May, the National Bureau of Statistics (NBS) announced Friday.The growth rate was 3.5 percentage points higher than the same period last year and 0.2 percentage points higher than April's, said NBS spokesman Sheng Laiyun.Urban consumption hit 1.08 trillion yuan in May, up 19.1 percent year on year, while rural residents spent 163.7 billion yuan, up 15.8 percent. A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.In the first five months, total retail sales climbed 18.2 percent to 6.03 trillion yuan. The growth rate was 3.2 percentage points higher than the same period last year.The government rolled out a series of incentives to bolster consumption to counter the fallout from the global economic downturn, including subsidies for home appliances in rural areas and tax breaks for auto purchases, in early 2009, among others.China's auto sales in May rose 28.35 percent from a year earlier to 1.44 million units, bringing combined sales in the first five months to 7.6 million units, up 53.25 percent from a year earlier.Monthly sales of home appliances in China's countryside surged 220 percent year on year in May to 12.6 billion yuan. The figure for January-May period was 54.35 billion yuan, up 400 percent from year on year.

BEIJING, July 25 (Xinhua) -- Party and government officials whose spouses and children have emigrated overseas are to be subject to strict examination when applying for private passports and going abroad, according to a new regulation released Sunday.A provisional regulation by the General Offices of the Communist Party of China (CPC) Central Committee and the State Council specified new rules overseeing the issuing of private passports and travel passes to Hong Kong, Macao and Taiwan to such officials.Party and government leaders of this kind have become so renowned in China that they have a shared nickname, "naked officials." They usually moved their spouses and children, as well as their assets, to foreign countries, and they put the money into their wives' or children's bank accounts. Even if they were eventually apprehended, the wealth transferred to overseas banks still belonged to the officials' families.According to the new rules, "naked officials" should submit written accounts on all income and property owned by their spouse and children living overseas, and on any changes in their financial conditions."Officials whose duties or services are related to the countries and regions their spouses and offspring are living in should voluntarily report it to their higher authorities. If conflicts of interests are involved, the officials must avoid holding related posts," the regulation said.The regulation stated that such officials should "strictly comply with relevant laws and regulations" when applying for passports and travel passes, or applying for traveling or emigrating abroad.Officials above deputy-county head level applying for passports should consult with their higher authorities, it said, adding that a thorough examination should be conducted when promoting officials whose family members have emigrated abroad.A statement from the CPC Central Committee General Office said the new regulation is "an important anti-corruption measure" to make officials self-disciplined, clean, reliable and to be people of integrity."The regulation not only stresses education, management and supervision of civil servants whose spouse and offspring live aboard, but also focuses on the protection of their interests and working enthusiasm," it said.The regulation covers all civil servants, but excludes those top-ranking specialists in high-tech fields who have been recruited from overseas, along with high-qualified overseas returnees.Experts say this is the latest effort to place officials' actions in the public's view.In September 2009, the CPC Central Commission for Discipline Inspection first ordered increased oversight of "naked officials."The municipal government of Shenzhen of southern Guangdong Province then implemented regulations in November 2009, including provisions saying that "naked official" should not become department chiefs or leading members of key departments.Earlier this month, the two general offices issued another regulation, designed to curb corruption and increase transparency about the assets of government officials. It required officials at deputy county chief level and above to annually report their assets, marital status, whereabouts and employment of family members.The reporting system for monitoring Party and government officials was set up in 1995, and revised in 1997 and 2006 by broadening the list of items and adding detailed procedures.Prof. Li Chengyan of Peking University said the two regulations that were announced recently were "a substantial step" towards the establishment of an asset declaration system for China's civil servants.
BEIJING, Aug. 23 (Xinhua) -- The Chinese government Monday strongly condemned the hostage-taking of Chinese tourists by a former police officer in Manila and demanded the Philippine government thoroughly investigate the incident. A bus with 21 Hong Kong tourists aboard was hijacked in the Philippine capital of Manila Monday morning. After negotiations, six hostages were freed. On Monday night, Philippine police launched a rescue operation and a number of hostages were killed and injured.In a press release, the Chinese Foreign Ministry said Foreign Minister Yang Jiechi had telephoned his Philippine counterpart Alberto Romulo on the hostage-taking incident.During the conversation, Yang said the Chinese government had been highly concerned over the incident and had asked the Philippine government to spare no efforts in carrying out the rescue operation under the prerequisite of guaranteeing the safety of hostages.Yang said that the Chinese government was shocked about the incident, deplored the slaying of Hong Kong tourists, and strongly condemned the brutality against innocent tourists.The Chinese government demands the Philippine government launch a thorough investigation into the incident and inform the Chinese side of related details as soon as possible, he said.The Chinese government also demands the Philippine government do all it can to save the injured hostages and properly handle the remaining problems of the incident, Yang said.
来源:资阳报