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BEIJING, April 14 (Xinhua) -- The Chinese government has allocated 200 million yuan (29.3 million U.S. dollars) from the central fiscal for disaster relief in quake-hit Qinghai Province, the Ministry of Finance said late Wednesday.The fund was to support relief efforts including evacuation, resettlement, medical treatment and epidemic prevention.A 7.1-magnitude quake hit the Tibetan Autonomous Prefecture of Yushu in Qinghai early Wednesday morning, leaving at least 400 people dead and 10,000 others injured.
BEIJING, May 28 (Xinhua) -- Lending by Chinese banks may drop to 600 billion yuan (88 billion U.S. dollars) in May as the central government winds down its stimulus program and cools the property market to prevent the economy from overheating, the Shanghai Securities News reported Friday.A fall in bank lending in May is expected after the government introduced a raft of measures to curb the skyrocketing property market in April. The measures included a ban on lending for third home purchases and increased scrutiny of developers' financing, the report said.Lu Zhengwei, an economist at Industrial Bank, estimates Chinese banks' May lending will be 450 billion yuan to 650 billion yuan, compared with 774 billion yuan in April."China has asked banks to strictly control lending to industries with overcapacity and to stop lending to new projects not in the 4-trillion-yuan stimulus package. These will be major reasons for a drop off in May lending," he said.China's banks lent 3.37 trillion yuan in the first four months of the year, about 45 percent of the government's full-year 7.5-trillion-yuan lending target.The National Bureau of Statistics is due to release major economic data for May, including new bank lending, mid-June.

BEIJING, April 17 (Xinhua) -- A senior leader of the Communist Party of China (CPC) has urged the media to report the quake relief work in northwest China in a timely, accurate and transparent manner.Li Changchun, a Standing Committee member of the Political Bureau of the CPC Central Committee, gave the instruction in a telephone call during his diplomatic trip to Turkey that he cut short as the devastating quake on Wednesday in Yushu, Qinghai Province has left more than 1,000 people dead.He also postponed visits to Saudi Arabia, Romania, Ireland and Montenegro.Li said measures must be taken to salvage and preserve the cultural heritages of ethnic minorities in the quake-hit area.
BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.
BEIJING, April 22 (Xinhua) -- The Chinese government announced a string of emergency measures Wednesday to provide convenient financial services for people in the quake-hit Qinghai Province and to support reconstruction.The People's Bank of China, the central bank, would lower the deposit reserve ratio for financial institutions in the quake area by 1 percentage point from Wednesday to help increase lending, said a statement posted on the website of the central bank.It would also reduce its rediscount rate for local Rural Credit Cooperatives by 1 percentage point to ease their financial burden.The rediscount rate is the interest rate charged to banks and deposit institutions when they borrow money from the central bank.The return of loans extended before the earthquake was not imperative until June 30, 2011. Residents and companies would be exempted from bad credit records if they could return their loans before the deadline, the central bank said.The statement urged local banks to resume business as soon as possible to meet rising demand for financial services.They should set up temporary outlets in tents, extend office hours and take measures to ensure adequate cash supplies so that residents could deposit and withdraw money conveniently.The measures were jointly introduced by the People's Bank of China, the China Banking Regulatory Commission, the China Insurance Regulatory Commission and the China Securities Regulatory Commission.The 7.1-magnitude quake struck the Tibetan Autonomous Prefecture of Yushu on April 14, leaving 2,183 people dead, 84 missing, and 12,135 injured as of Wednesday.
来源:资阳报