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BEIJING, Jan. 3 (Xinhua) -- The Purchasing Managers' Index (PMI) for China's non-manufacturing sector was back to growth in December last year after declining for two months, the China Federation of Logistics and Purchasing (CFLP) said Monday.The December PMI for non-manufacturing sector rises to 56.5 percent, 3.3 percentage points higher than a month earlier, the CFLP said in a statement on its website.The figure declined month on month in October and November last year to a nine-month low of 53.2 percent in November.The non-manufacturing PMI is a package of indices that measure the non-manufacturing sector's performance.A reading above 50 percent indicates economic expansion while one below 50 percent indicates economic contraction. It was the eighth straight month the reading was above 50 percent.The monthly rise had reflected a steady growth in China's non-manufacturing sector, with new orders index 2.2 percentage points higher month on month to 52.3 percent and new export orders jumped 3.3 percentage points to 50.6 percent, said the CFLP.According to the CFLP, the New Year holiday, as well as the coming Lunar New Year holiday, or Spring Festival, which falls on early February this year, has led to a rebound in the consumer service sector, especially in the retailing and the catering businesses.The rapid growth in the information service industry has also contributed to the rise, which had largely driven up the producer service sector, of which the business activity index was up 4.3 percentage points to 59.7 percent, it said.The CFLP also pointed out that the intermediate input price index for December was down 0.7 percentage points from the November level to 65.9 percent, indicating that inflation condition has not worsened in the past month, but it suggested the government closely monitor its future trend.Noticeably, the new order index for the real estate industry remained below 50 percent by falling 2.3 percentage points to 45 percent, which was "a move toward the government's macro-control target", said the statement.
BEIJING, Jan. 18 (Xinhua) -- Major foreign media have been positive in their coverage of Chinese President Hu Jintao's recent interview with two U.S. newspapers.On the eve of his state visit to the United States, Hu answered questions concerning major domestic and international issues in a written interview with reporters from Wall Street Journal and Washington Post on Monday.Japanese newspaper Tokyo Shimbun said President Hu stressed the need to reform the U.S. dollar-based international financial system and expressed disagreement with the U.S. criticism of the slow appreciation of the Chinese yuan. He also hoped the parties to the Six-Party talks on denuclearization of the Korean Peninsula would work actively to resume dialogue.Japanese newspaper Mainichi Shimbun said Hu called on the international community to further advance international financial system reform.Chinese President Hu Jintao (2nd L) arrives at Washington, the United States, on Jan. 18, 2011. Hu Jintao landed here Tuesday for a four-day state visit.Hu said the financial crisis sparked by the collapse of Lehman Brothers Holdings Inc. in 2008 was rooted in serious defects in the existing financial system and the monetary policy of the United States had a major impact on global liquidity and capital flows. "Therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level," Hu said.Hu said "the current international currency system is the product of the past," but he did not dispute the U.S. dollar's role as the global reserve currency. He said it "will be a fairly long process" before the yuan could become an international reserve currency.German newspaper Frankfurter Allgemeine Zeitung said the Chinese president agreed that China and the United States should be partners for cooperation in broader areas and abandon the zero-sum Cold War mentality. Hu wrote in the interview that both countries should respect each other's sovereignty and territorial integrity. He also expressed concerns over U.S. monetary policy.German newspaper Suddeutsche Zeitung said, before his visit, Hu expressed his confidence while saying the current international currency system was "the product of the past." Though it will take a long time for the yuan to compete with the U.S. dollar as the global dominant currency, Hu had no doubt about the development trend.German newspaper Handelsblatt also referred to Hu's quote that the current international currency system was "the product of the past," but noted he made no compromise on the continuing debate over the right exchange rate. Beijing "cannot accept" U.S. demands of yuan appreciation, it quoted him as saying.The British Financial Times said on its website that Hu had talked about the role of the yuan in the written interview with U.S. media, and underlined China's concern about the impact on its own economy of U.S. monetary policy.The article said Hu rarely gave newspaper interviews to the U.S. media, which illustrated the importance China attached to the U.S. trip. In spite of what he acknowledged as a "sensitive" issue of disagreement between the United States and China, he generally struck a positive note on bilateral ties, saying the two sides could work productively together.The article said Hu's comments on the U.S.-led monetary system as a "product of the past" was confirmation that China would continue to take measures to internationalize the yuan. Meanwhile, he also said that "making the yuan an international currency will be a fairly long process." On the recent stimulus measures taken by the U.S. Federal Reserve, Hu said the liquidity of the U.S. dollar should be kept at a reasonable and stable level.French newspaper La Tribune said Hu answered seven questions raised by two U.S. newspapers, saying that the U.S.-led monetary system was a "product of the past," and criticizing the Fed's quantitative easing monetary policy.The report said that Hu insisted the two countries should build close and constructive relationship, referring to new energy, clean energy, infrastructure and aerospace. He also said both countries should abandon the zero-sum Cold War mentality and respect each other's choice of development path.U.S. newspaper Washington Post said that Hu promised China would continue to develop "socialist democracy." His remarks on this issue seemed to suggest that Chinese leaders understood the increasingly rich population had growing demands for diversity. He said the fact that China had enjoyed sustained, rapid economic growth and social stability and harmony in the past 30 years proved the validity of China's political system.Hu said China had "made relentless efforts" to help ease the tension in the Korean peninsula, and thanks to joint efforts by China and other parties, "there have been signs of relaxation."Singaporean newspaper Lianhe Zaobao said on its website that Hu admitted there were some differences and sensitive issues between China and the United States, but his attitude was gentle. Hu made a relatively optimistic assessment of China-U.S. relations, saying that both countries should abandon the zero-sum Cold War mentality and respect each other's choice of development path.The AFP said that replying to questions from The Wall Street Journal and the Washington Post, Hu came out fighting on the currency issue that was so vital to the world economy, as well as to a Chinese leadership that felt it must sustain strong growth to survive.Highlighting the dollar's importance to global trade, Hu implicitly criticized the Federal Reserve's recent decision to pump 600 billion dollars into the U.S. economy.The AFP said that, on the eve of his visit, the tenor of Hu's message was overwhelmingly conciliatory and positive.Reuters said Hu hoped China and United States could abandon the zero-sum Cold War mentality and he also put forward new cooperation proposals.Eswar Prasad, a Brookings Institution economist and former International Monetary Fund chief of financial studies, said, "Hu makes it clear that China intends to move forward on opening its markets, freeing up its exchange rate and restructuring its political system, but at its own pace and with little heed to external pressures for more rapid or broader reforms."
BEIJING, Dec. 10 (Xinhuanet) -- Provincial level officials and ministers will be held more fiscally responsible under an expanded auditing system, the country's top auditor said on Thursday."The regulation will be significant in supervising officials' power use and corruption prevention," Liu Jiayi, head of the National Audit Office, was quoted as saying in an interview posted on the office's website.Under the regulation, released by the general offices of the Communist Party of China (CPC) Central Committee and the State Council, leaders of public institutions and State-owned enterprises will also be audited.China introduced the first such regulation in 1999, but it only included measures to audit financial records of county-level and below Party and government officials.The audit target was extended to provincial governors and ministers in 2000 on a trial basis and to heads of provincial government departments in 2005.Chinese auditors have uncovered more than 68.4 billion yuan (.2 billion) in illegal use of funds during nationwide audits of some 410,000 Party and government officials and bosses of State-owned enterprises since 1998, according to Liu.During the audit of provincial governors and ministers, their implementation of economic policies, handling of income and expenses, key fund management and project construction will be examined."They have power and control many resources, and how they fulfill their economic accountability will impact local economic and social development," he said.More importantly, the audit can be carried out frequently, so illegal activities can be cleared up before they spread, he said.Liu also said the audit will be made during an official's tenure to solve any problems that exist.Results of the audit will be recorded in an official's file and it will be an important factor in performance assessments, promotions or removal, and rewards or punishments.The audit group will consist of officials from local discipline inspection commissions and sectors including audit, supervision, organization, human resources and State asset supervision and management."It's a big step in cracking down on corruption. And the regulation will deter officials who want to abuse their power," said Liu Xutao, a professor at the Beijing-based Chinese Academy of Governance.
BEIJING, Dec. 20 (Xinhua) -- A senior leader of the Communist Party of China (CPC) has called on judicial and public security authorities to step up efforts to resolve social conflict and embrace fairness in law enforcement.Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks at a three-day meeting in Beijing attended by CPC officials from local governments and leaders of judicial and public security departments. Zhou Yongkang (C, back), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, remarks at a three-day meeting in Beijing attended by CPC officials from local governments and leaders of judicial and public security departments, in Beijing, capital of China. China is challenged by the heavy task of safeguarding national security and maintaining social harmony and stability over the next five years, he said at the meeting, which ended Monday.Efforts should be made to address issues related to people's immediate interests, like public security and social justice, he stressed.Zhou called on judicial and public security authorities to continue their fight against violent crime, terrorism and separatism in accordance with the law.
ST. PETERSBURG, Russia, Nov. 22 (Xinhua) -- Visiting Chinese Vice Premier Wang Qishan met his Russian counterpart Alexander Zhukov on Monday, both speaking highly of the bilateral ties and vowing to expand cooperation on all fields.In the 14th meeting of the Joint Commission for the Regular Meetings of Heads of Government of China and Russia, Wang appreciated Sino-Russian relations as the two countries have further strengthened their strategic partnership of coordination, promoted mutual understanding and boosted pragmatic cooperation in all areas.He said bilateral trade volume between the two countries has rebound to the pre-crisis level, with comprehensive energy cooperation, covering areas of crude, nuclear power, electricity and coal, being further developed.Bilateral economic cooperation with significant strategic nature has been maintaining momentum, Wang said, appreciating its achievements in some joint projects of finance and infrastructure.Wang also noted that Sino-Russian economic cooperation is standing at a new start, as China is drafting the "twelfth five- year" development plan to transform its pattern of economic growth and Russia is implementing its strategy for modernization.Both countries should grasp the opportunities to boost bilateral cooperation in economy and trade, investment, energy, finance, technology, aerospace, telecommunication, transport and other fields, he said.Wang stressed China is willing to jointly endeavor with Russia to ameliorate bilateral trade structure, further promote and innovate cooperation to achieve the goal of win-win.With regards to his regular meeting with Zhukov, Wang spoke highly of the meeting as it was a bolster for the upcoming meetings of Chinese Premier Wen Jiabao with Russian leaders.Wang appreciated this dialogue mechanism between China and Russia, saying the two countries should continue candid communication and boost bilateral cooperation to achieve more fruits.Zhukov appreciated the Sino-Russian economic and trade cooperation as it has stood the test of the global financial crisis and revived to growth.He also spoke highly of bilateral energy cooperation in nuclear power, coal, electricity and timber, noting that the completion of Sino-Russian pipeline has upgraded the level of practical cooperation.Both countries are effectively carrying out interlocal outlines issued before, Zhukov said, adding that Russia will take the opportunity of this meeting to further boost bilateral cooperation to a new level.At the invitation of Deputy Prime Ministers Alexander Zhukov and Igor Sechin, Wang arrived in St. Petersburg on Nov. 21, kicking off his visit to Russia.On Monday, Chinese Premier Wen Jiabao also arrived in St. Petersburg, starting his official visit to Russia.