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BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

CHICAGO, May 22 (Xinhua) -- The macroeconomic control policies adopted by the Chinese government since mid-2008 have been proven successful, two economists said Saturday.Since late 2008, the Chinese government has taken a series of macroeconomic control policies to deal with the global financial crisis. The government carried on massive financial investment, some of which focused on real estate."In spite of some problems, the Chinese government has been making great progress in regulating and controlling the Chinese economy during the global financial crisis," Min Tang, a Chinese economist, said in an exclusive interview with Xinhua."Everything has two sides, good and bad. This macroeconomic control policy is an action taken to fight against a crisis," he said.Tang believed that whether or not the policies are successful should be judged from the macro perspective instead of a micro perspective."China was able to resume its rapid growth first when the global economy was still going downhill," Tang said, "China also successfully kept the confidence of its people and enterprises, which is more important than anything else. Therefore, the government's macro control is very successful."

YUSHU, May 11 (Xinhua) -- Chinese Vice Premier Li Keqiang has called on reconstruction teams to finish their work within three years in the earthquake stricken areas of the northwestern Qinghai Province.Li, also member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, made the remark during a visit Monday and Tuesday in Yushu Tibetan Autonomous Prefecture, epicenter of a 7.1-magnitude earthquake on April 14.He asked relief workers to finish removing debris, select the site of a new township and the layout of urban and rural areas by the end of May.By the end of this year, reconstruction teams should strive to finish all reinforcement work for reparable buildings in the quake zone, finish building new homes for most rural residents and herdsmen, and start building new homes for most urban residents, Li said.He asked local government officials to ensure that all quake survivors get enough and safe food, water and other necessities. Chinese Vice Premier Li Keqiang visits local temporary hospital in Yushu, Qinghai on Tuesday. Li urges local health and disease control personnel to prevent disease outbreaks and prepare effective treatments for altitude sickness before reconstruction workers arrived.Li urged local health and disease control personnel to prevent disease outbreaks and prepare effective treatments for altitude sickness before reconstruction workers arrived.Visiting a residential construction site in Jiegu Town, Li urged that the quality of new homes should be guaranteed.He also encouraged local quake survivors to overcome difficulties to resume their normal lives.Supplies of water and electricity as well as transport are being restored in the severely damaged Jiegu Town.Li outlined five aspects for the future relief work:-- Funding for quake survivors' subsidies, emergency rescue and temporary resettlement must be secured.-- Authorities should work out a general plan and special projects for reconstruction as soon as possible. The central government would provide favorable tax, loans, land and employment policies.-- Before large-scale reconstruction, designs for residential houses and public facilities should be prioritized.-- Heating and winter tents should be prepared for survivors who could not move into new buildings before cold weather arrives.-- School buildings, hospitals as well as water, electricity, telecommunications and transport facilities should be prioritized in reconstruction.Ethnic customs and traditions should be respected, he said.

UNITED NATIONS, May 4 (Xinhua) -- "China has consistently stood for the complete prohibition and thorough destruction of nuclear weapons," and "it is firmly committed to a nuclear strategy of self-defense and its nuclear weapons pose no threat to other countries," a senior Chinese diplomat said here Tuesday.Li Baodong, head of the Chinese delegation to the conference to review the Nuclear Non-Proliferation Treaty (NPT), made the statement when he was taking the floor at the conference, which entered its second day here Tuesday."We have adhered to the policy of no-first-use of nuclear weapons at any time or under any circumstances, and made the unequivocal commitment that we will unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," said Li, who is also the Chinese permanent representative to the United Nations."This open, explicit and transparent nuclear policy makes China unique among all nuclear-weapon states. China has never deployed any nuclear weapons on foreign territory," he said. "China has not participated and will not participate in any form of nuclear arms race.""China supports the early entry into force of the CTBT ( Comprehensive Test Ban Treaty) and the early commencement of the negotiation of a Fissile Material Cut-off Treaty. China will continue to keep its nuclear capabilities at the minimum level required for national security, and continue to make efforts to advance the international nuclear disarmament process," he said."The entry into force of the Comprehensive Test Ban Treaty at an early date, and the early commencement of negotiations on the Fissile Material Cut-off Treaty are of great importance to advancing the nuclear disarmament process," he said. "The international community should continue to make even greater efforts to this end.""Other nuclear-weapon states, when conditions are ripe, should also join the multilateral negotiations on nuclear disarmament," he said. "The international community should develop, at an appropriate time, a viable, long-term plan composed of phased actions, including the conclusion of a convention on the complete prohibition of nuclear weapons."The CTBT is the first treaty, in the form of international legal document, aimed to completely prohibit any nuclear weapon test explosion under any circumstances and in any place on the global scale.The treaty, which was adopted in New York on Sept. 10, 1996, constrains the development and qualitative improvement of nuclear weapons. It also provides for the establishment of a global verification system to monitor compliance with the treaty's provisions.It becomes operational 180 days after 44 states, whose ratification is required under Annex II of the text, have ratified it. To date, 181 states have signed it and 150, including 35 of the Annex II States, have ratified it."To steadily promote nuclear disarmament is an important step towards the complete prohibition and thorough destruction of nuclear weapons, and requires unremitting efforts from all parties, " he said."All nuclear-weapon states should fulfill in good faith obligations under article VI of the NPT, and publicly undertake not to seek permanent possession of nuclear weapons," he said."We welcome the recent signing of the new bilateral nuclear disarmament treaty between the United States and the Russian Federation," Li said. "As countries with largest nuclear arsenals, the two should continue to make drastic reductions in their nuclear arsenals in a verifiable and irreversible manner, which will contribute to creating conditions for the ultimate realization of complete and thorough nuclear disarmament.""Nuclear-weapon states should earnestly reduce the role of nuclear weapons in their respective national security policy, unequivocally undertake not to be the first to use nuclear weapons, and unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," he said. "We call on all nuclear-weapon states to conclude an international legal instrument in this regard at an early date."Nuclear disarmament must follow the principles of maintaining global strategic stability and undiminished security for all, he said. "The development of missile defense systems that disrupt global strategic stability should be abandoned. Multilateral negotiation process to prevent the weaponization of and arms race in outer space should be vigorously promoted."

BEIJING, May 28 (Xinhua) -- Visiting Indian President Pratibha Patil and Chinese Vice President Xi Jinping Friday in Beijing attended a reception to mark the 60th anniversary of the establishment of bilateral ties.In a speech at the reception, Xi said China-India relations had gone beyond their bilateral scope to have global significance as the Asian neighbors both emerged as major players in the developing world."A review of China-India relations over the past 60 years tells us that good-neighborly friendship and mutual beneficial cooperation has always been the mainstream of our relationship," Xi said.Chinese Vice President Xi Jinping (R) attends the Reception to Mark the 60th Anniversary of the Establishment of Diplomatic Relations between China and India with Indian President Pratibha Patil in Beijing, May 28, 2010. He called on both sides to further increase understanding and trust, enhance strategic cooperation and promote sustainable development of bilateral ties.China and India should be partners rather than rivals because the two countries face similar challenges while having common interests on broad issues, he told some 400 delegates from both countries.