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BEIJING, Nov. 21 (Xinhua) -- The State Council, China's cabinet, announced Sunday a slew of measures to rein in rising commodity prices to ease the economic pressures on the people.Local governments and departments are required to boost agricultural production and stabilize supply of agricultural products and fertilizer while reducing the cost of agricultural products and ensuring coal, power, oil and gas supplies, the State Council said in a seven-page circular.The cabinet urged local departments to step up vegetable-planting efforts while stabilizing winter vegetable production and strengthening grain and edible-oil production field management to ward off supply shortages.To reduce delivery costs, road tolls for vehicles transporting fresh- and live-farm produce will be forbidden from Dec. 1, the circular said.The cabinet also ordered local authorities to continue to reduce the prices of power, gas and rail-transport for chemical-fertilizer producers while ensuring coal supplies for power generation companies and increasing production of oil -- especially diesel -- to guarantee sufficient supply.Local governments must temporarily disburse subsidies to needy people and increase allowances for poor students and student canteens, the circular added.Local authorities were ordered to establish coordinated social-security mechanisms that promise a gradual rise in basic pensions, unemployment insurance and minimum wages.Local departments were also ordered to adjust prices promptly and to impose temporary price controls on important daily necessities and production materials where necessary.Market monitoring will be intensified to clamp down on hoarding and speculation in major agricultural products, the circular added.Chinese decision makers have made price controls a top priority, as the consumer price index (CPI), the main gauge of inflation, rose to a 25-month high of 4.4 percent in the 12 months to the end of October. The hike was mainly due to a 10.1-percent surge in food prices. Food prices have a one-third weighting in China's CPI calculation.China has been moving to mop up excessive liquidity to combat inflation, with the latest move to target over-liquidity in the banking system.The People's Bank of China, or the central bank, said Friday it would raise capital reserve requirements by 50 basis points for all the banks of the country for the fifth time this year to control credit and liquidity.
BEIJING, Nov. 9 (Xinhua) -- The third China-UK Economic and Financial Dialogue concluded here Tuesday, with both sides coming out of it committed to a range of policies to return the world economy back to strong and sustainable growth.While addressing the press after the one-day dialogue, Chinese Vice Premier Wang Qishan, who hosted the talks, said both China and the UK agreed the world should "jointly promote strong, sustainable and balanced global growth."According to the combined policy outcomes of the talks, both sides have recognized although the global economic recovery is underway, it remains uneven.The two nations "pledged to continue implementing economic policies conducive to sustainable economic growth," while "the UK has committed to a clear, credible, ambitious and growth-friendly medium-term fiscal consolidation plan," said the document.Chinese Vice Premier Wang Qishan (L) and UK Chancellor of the Exchequer George Osborne pose for photos during a press conference after the third China-UK Economic and Financial Dialogue in Beijing, capital of China, Nov. 9, 2010. Wang Qishan and George Osborne co-chaired the third China-UK Economic and Financial Dialogue here Tuesday. China, for its part, is committed to speeding up transformation of its economic development pattern and further strengthening the "role of domestic demand" in boosting economic growth.The upcoming Group of 20 (G20) summit in Republic of Korea (ROK)'s capital of Seoul was also highlighted in the bilateral discussion.Strongly supporting the G20 as the major forum for their international economic cooperation, the two countries welcomed the ambitious agreement reached by the G20 Finance Ministers and Central Bank Governors at Gyeongju, ROK, to reform the IMF's quota and governance.These reforms aim to help deliver a more "effective, credible and legitimate IMF, and enable the IMF to play its role in supporting the operation of the international monetary and financial system."The policy outcomes also call for further bilateral ties in trade and investment, including high technology and infrastructure."The UK is already one of the most open economies in the world to trade and inward investment and welcomes more Chinese investment, including from sovereign wealth funds," said UK Chancellor of the Exchequer George Osborne who co-chaired the talks with Wang.Both China and the UK said they would resist all forms of protectionism, and continue working together to further lower trade barriers and make efforts for a comprehensive and balanced conclusion to the Doha Development Round.The UK also reaffirmed its support for China's full market economy status at as early a date as possible and will continue to play a constructive role to encourage EU recognition.The two nations also vowed to drive forward the reforms of international financial regulation and supervisory standards, and to enhance transparency and accountability in the financial sector.

HANOI, Nov. 27 (Xinhua) -- Chinese and Vietnamese defense ministries held their fourth defense and security consultation here on Thursday.The consultation was chaired by Deputy Chief of the Chinese People's Liberation Army General Staff Ma Xiaotian and Vietnamese Deputy Defense Minister Nguyen Tri Vinh.At the consultation, the two sides exchanged views on regional security, bilateral relations and bilateral military ties, and other issues of mutual concern.The two sides spoke highly of the defense and security consultation mechanism, holding that it is an effective measure to push forward bilateral relations and bilateral military ties and should be fully utilized. Deputy Chief of the Chinese People's Liberation Army General Staff Ma Xiaotian (2nd L) and Vietnamese Deputy Defense Minister Nguyen Tri Vinh (2nd R) chair the fourth China-Vietnam Defense and Security Consultation in Hanoi, Vietnam, Nov. 27, 2010. Chinese and Vietnamese defense ministries held their fourth defense and security consultation here on Thursday , during which the two sides exchanged views on regional security, bilateral relations and bilateral military ties, and other issues of mutual concern.Both sides said they cherished traditional friendship between China and Vietnam, and vowed to further strengthen political mutual trust, enhance cooperation and properly settle sensitive issues that could have an influence on bilateral relations or bilateral military ties.The two sides vowed to strengthen exchanges and coordination in international affairs, speed up efforts in handling difference and challenges, and make joint efforts to safeguard regional peace, security and stability.
BEIJING, Dec. 3 (Xinhua) -- During the 11th Five-Year Plan period (2006-2010), China spent 3.26 trillion yuan on social security, an annual increase of 17.6 percent, the Ministry of Finance (MOF) told Xinhua Friday.Wang Jun, vice minister of the MOF, said in the 2006-2010 period, the social security expenditure from the central government stood at 1.4 trillion yuan (210.19 billion U.S. dollars), which was 2.1 times the expenditure in the previous five years.As the improvement of civil welfare is a crucial component of the harmonious society China is pursuing, financial authorities at all levels should continue to raise investments in social security when making the 2011 fiscal budget and plans for the 12th Five-Year Plan starting from 2011, Wang said.
DUSHANBE, Nov. 25 (Xinhua) -- Chinese Premier Wen Jiabao and Kyrgyz President and Acting Prime Minister Roza Otunbayeva met here Thursday, with both sides pledging to enhance cooperation in economy, technology and other areas.The two leaders were meeting on the sidelines of the 9th prime ministers' meeting of the Shanghai Cooperation Organization (SCO) in the Tajik capital.Premier Wen told Otunbayeva that China pays great attention to the situation in Kyrgyzstan and hopes for stability in the country.Wen said that both countries should follow the principles stipulated in the Sino-Kyrgyz Good-neighborly Treaty of Friendship and Cooperation to further enhance political mutual trust and push forward for a steady and healthy development of bilateral ties, adding that this serves the fundamental interests of both peoples.Chinese Premier Wen Jiabao (R) shakes hands with Kyrgyz President Roza Otunbayeva in Dushanbe, Tajikistan, Nov. 25, 2010. While expressing the belief that the Kyrgyz people could overcome by themselves the current difficulties, he also promised that China would continue to provide support and help within its own capabilities for Kyrgyzstan both in the bilateral framework and in that of the SCO.The Chinese premier said China would actively participate in the reconstruction of southern Kyrgyzstan, and promote in a down-to-earth manner the projects on bilateral economic and technological cooperation so as to benefit the two peoples.For her part, Otunbayeva expressed her gratitude for China's long-term support and humanitarian assistance for the economic development of her country.She said that her government would continue to pursue friendly policies toward China, and stick to existing political and legal documents signed by the two sides.The Kyrgyz leader also said that her country was ready to strengthen friendly and mutually beneficial cooperation with China in the areas including economy, trade and infrastructure construction.Furthermore, she expressed Kyrgyzstan's hope for stronger coordination and cooperation with China in the fight against the three evil forces of terrorism, separatism and extremism and drug trafficking so as to join hands to cope with increasingly severe regional security challenges.The one-day SCO prime ministers' meeting concluded Thursday with the participants agreeing to further strengthen cooperation in security, politics, trade and other areas.
来源:资阳报