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BEIJING, June 7 (Xinhua) -- China's central bank on Saturday ordered lenders to set aside more money as reserve, the fifth such move this year. It was the latest effort to enhance liquidity management in the banking sector.     The reserve-requirement ratio would be raised by 0.5 percentage points on June 15, and another 0.5 percentage points on June 25, the People's Bank of China (PBOC) said on its website.     This will bring the ratio to a record high of 17.5 percent.     The PBOC also said that corporate financial institutions in the worst quake-hit areas including Chengdu and Mianyang, would postpone carrying out the regulation. But it didn't say how long the delayed period would be.     "The rise, a further materialization of the tight monetary policy, is aimed at strengthening liquidity management in the banking system," the statement said.     "The government adopted differential monetary policies to support reconstruction in the quake-hit areas," said Peng Xingyun, a senior expert with the Chinese Academy of Social Sciences (CASS).     Zhou Xiaochuan, the central bank governor said earlier that the PBOC was to take flexible monetary policy to aid after-quake reconstruction.     The 8.0-magnitude earthquake centered on Sichuan's Wenchuan County has so far caused 206.53 billion yuan of economic losses to the industrial and mining enterprises in the quake regions.     The PBOC had raised the ratio four times previously this year. The latest was on May 12 when it lifted the ratio to a new high of16.5 percent.     Yin Jianfeng, director of the Institute of Finance and Banking with the CASS, said the move would help the country reduce inflationary pressure and to control excessive investment.     "But the move will not be as effective as the government expected because inflation nationwide mainly resulted from surging production material and food prices," he said. "A simple monetary policy will not help."     The consumer price index (CPI), the main inflation gauge, was up 8.5 percent in April from a year earlier. This was nearly equal to February's 8.7-percent rise, the most since May 1996.     Some market experts said that after-quake restoration and reconstruction would beef up fixed assets investment, and add more inflation pressure to the nation's sizzling economy.     Soaring demand for cement, steel, copper, zinc, and a luminium were expected to push up the prices of basic building materials, according to the experts.     Zuo Xiaolei, Galaxy Securities chief economist, said huge foreign exchange reserves and economy unrest in neighbouring countries had posed great pressure to China's economy. This had forced the government to adjust its economic policy before it could reach a balance.     "A great deal of hot money swarmed into China's capital market, and the PBOC aims to hedging excessive monetary liquidity," said Wu Xiaoqiu, head of the Financial and Securities Research Institute of the China Renmin University.     Wu said the government was likely to carry out more monetary policies to curb inflation and liquidity in the near future.     China adopted the tight monetary policy late last year to prevent the economy from overheating. It was also to guard against a shift from structural price rises to evident inflation. The country adhered to the policy despite a global slowdown hit by the international credit crunch.     The country's economic growth slowed in the first quarter but still reported double-digit growth. It expanded 10.6 percent, compared with 11.7 percent in the same period a year ago.

BEIJING, July 16 (Xinhua) -- As the special guests of Chinese President Hu Jintao, 88 students from the quake-hit areas on Wednesday visited Zhongnanhai, the compound of central authorities, and had a joyous time with grandpa Hu before going to Russia for recuperation.     "I hope all you schoolmates will rest well and recover as soon as possible with the help of Chinese and Russian teachers. I also hope that you will take this rare opportunity to make friends with Russian pals and be the little envoys for our two countries," Hu told the children.     These middle and elementary school students, who come from western China's Sichuan, Gansu and Shaanxi provinces severely stricken by the May 12 earthquake, represent 1,000 children who are going to Russia for further recovery. Chinese president Hu Jintao talks with students from quake-hit areas who visit Zhongnanhai in Beijing before going to Russia for further recuperation on Wednesday, July 16, 2008. The first group of 181 children from China's quake-hit provinces of Sichuan and Shaanxi will fly to Russia on Thursday for a three-week recuperative vacation    The children had a wonderful time visiting the beautiful sceneries in Zhongnanhai, asking officials' innocent questions and taking pictures with big smiles.     Hu, with arms around several students, asked for their names, grades, hometowns and their feelings for traveling to Russia.     Informed that some of the children had lost their parents during the quake, Hu said, "In the homeland's big family, you have many more parents. We will help arrange your life and study well, and ensure that you grow up as happy and healthy as all the other children."     Hu carefully examined the injuries on some children and expressed the hope that they would, after coming through the calamity, become braver and tougher to overcome any difficulty in their future life.     Hu urged the students to help each other when going out of the country and wished them a wonderful time in Russia.     During the activity, Hu also met with a senior official with the Russian embassy to China and expressed his gratitude for all the help Russia offered since the quake.     "During the disaster, the Russian government and people offered us timely help, and you invited more than 1,000 quake-hit middle and primary school students to go to Russia for recovery. All these show Russian people's love for the Chinese. And it once again proves that we two countries are real good neighbors and friends," said Hu.     The death toll from the May 12 earthquake in Sichuan Province, southwest China, stood at 69,197 as of Wednesday noon, and a total of 18,238 people were still missing.

    BEIJING, Oct. 8 (Xinhua) -- President Hu Jintao on Wednesday urged China to carry on the spirit of unity, courage, "people first" and scientific thinking that characterized the May 12 earthquake relief effort.     At a ceremony in Beijing's Great Hall of the People to honor outstanding organizations and individuals for their contributions to the rescue and relief work, Hu said the spirit should be promoted among the Communist Party of China (CPC) members and the public.     This would help advance the sound and rapid economic and social development.     He said that in face of the major disaster, the CPC Central Committee had listed quake relief as the most important and urgent task for the Party and country as soon as possible.     Quake relief headquarters under the State Council had been set up and a system to coordinate the military and local governments had been established to mobilize the nation to advance the quake relief and reconstruction.     "We organized the fastest quake relief work with the most people mobilized in China's history, saved as many as possible lives and minimized the losses from the disaster," Hu said.     The 8.0-magnitude quake was the most destructive one since the People's Republic of China was founded in 1949, with more than 30,000 aftershocks, affecting 500,000 square km over more than 10 provinces, autonomous regions and municipalities, including Gansu, Shaanxi and Chongqing.     It was felt in 417 counties, 4,667 townships and 48,810 villages. It left 69,227 dead with 17,923 still missing. About 15.1 million people were displaced, Hu said.     Direct losses exceeded 845.1 billion yuan (124 billion U.S. dollars) as infrastructure was destroyed and industrial and agricultural production was affected, causing major environmental damage.     Party committees, governments, grassroots cadres and the people in quake-hit regions had responded quickly to the devastating quake, making the utmost effort to help themselves and others.     Hu praised the 146,000 troops, armed police, reservists and police which had been mobilized for the anti-quake work, describing them as the "main force" and "commandoes." Chinese President Hu Jintao and other Chinese Party and state leaders including Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang meet with representatives of the organizations and individuals who made major contributions to the relief work after the May 12 earthquake before the ceremony honoring organizations and individuals for their contributions to relief work after the May 12 earthquake struck southwest China, at the Great Hall of the People in Beijing, China, Oct. 8, 2008OUTSTANDING INDIVIDUALS, ORGANIZATIONS HONORED     Hu, also the CPC Central Committee general secretary and Central Military Commission chairman, and other senior officials, presented awards to soldiers, police, grassroots cadres, teachers, medical workers, journalists, construction workers and volunteers, among others.     A total of 319 governmental organs, Party committees, businesses and hospitals, as well as 522 individuals were honored at the ceremony attended by about 6,000 people and broadcast live nationwide.     Five of the recipients were awarded posthumously for dying in the line of duty, including 23-year-old teacher Gou Xiaochao.     Gou was in a classroom at Yong'an Village's primary school in Tongjiang County, Sichuan Province, when the whole building began shaking violently at 2:28 p.m. on May 12.     Realizing it was a strong earthquake, he herded the shocked students out of the building. His actions saved dozens of schoolchildren before he was buried in hail of concrete and bricks.     He died on the way to hospital, only 10 days after getting married.     Policewoman Jiang Min is another heroine whose story is now known all over China.     She lost 10 family members, including her two-year-old daughter and her mother, when the quake almost leveled her hometown, Beichuan County. Despite her tremendous grief, Jiang kept helping others affected in the quake.     Hu Jintao said the May earthquake was "a great test of Chinese will, courage and strength, as well as the Party's ruling capability."     "The relief work showed the great strength of the CPC and the socialist state, the great strength of the 1.3 billion Chinese people, the great strength of the reform and opening up, and the great strength of socialism with Chinese characteristics," he said.     During his speech, Hu suggested people who attended the ceremony stand in silent tribute for compatriots who died in the quake and the martyrs who sacrificed themselves in the relief work.     RECONSTRUCTION NOW A MAJOR FOCUS     Hu said the anti-quake work had again proved China's system of socialism had great vitality for development with the advantage of "concentrating strength on big events."     This proved people are the real driving force for the country's development. In addition, it proved the army is the "iron great wall" to protect the people and proved the CPC's core leadership role in developing socialism with Chinese characteristics.     "We have gained precious experience in dealing with emergencies and combating major natural disasters," Hu said.     Hu said the Sichuan quake caused huge loss of life and property and damaged economic and social development.     The quake relief work had tested and demonstrated the great achievement of the last 30 years of reform and opening up.     He stressed to fully implement the rebuilding policies after the disaster to build happy new homes for the quake-affected people, solving the problems concerned with their livelihood.     Reconstruction should be scientifically planned and carried out step by step.     "We should realize the goal of 'homes and jobs for each household, social security for everyone, improvement to local infrastructure, development of the economy and improvement to the environment,'" he said.     People's basic living conditions and public service facilities should be resumed first and the working conditions should be resumed as soon as possible.     "Currently, we should help the people get through the winter season safely."     Hu urged the quake-affected people to work hard and other regions to provide support to the rebuilding.     In addition to Hu, Chinese Party and state leaders including Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang, and about 6,000 people attended the ceremony.     Premier Wen, who presided over the ceremony, said the outlines and policies of the rebuilding would be well implemented

BEIJING, Oct. 14 (Xinhua) -- The financial crisis and other major issues challenging the world will be discussed in the upcoming summit of the Asia-Europe Meeting (ASEM), according to Liu Jieyi, China's assistant foreign minister.     "The ASEM summit would be convened under the special international circumstance," said Liu at a press conference here on Tuesday.     He added the financial situation was in turbulence and the three major challenges, including food safety, climate change and energy issues, were interwoven.     Under the theme of dialogue, cooperation, mutual benefit and common prosperity, the summit would touch upon these issues.     The seventh ASEM summit will be held in Beijing from Oct. 24 to25. At present, most foreign members had confirmed their attendance.     Liu said all members would focus on disaster-relief cooperation, the promotion of trade and investment, sustainable development and strengthening dialogue.     Chinese President Hu Jintao will attend the meeting and Premier Wen Jiabao will preside over the meetings and a welcoming banquet.     Leaders from four coordinators, including China, the EU commission, Brunei and France, would hold a joint press conference after the summit, Liu said, adding several bilateral meetings would also be held.     "A chairman's statement is expected to be passed to reflect all members' stance on the major issues, outlining the key areas of cooperation in the future."     Other documents will also be passed to improve the substantial cooperation on three major areas, including political, economic cooperation as well as social and cultural exchange.     "This is another important event for China after the Beijing Olympic Games," Liu said.     The 45-member ASEM, established in 1996, is a high-level forum between governments of Asia and Europe. It aims at creating better conditions for cooperation between the two continents through strengthening dialogue and mutual u