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Meanwhile, the ongoing structural reform is constantly delivering benefits. China remains the biggest developing country in the world. Development is of overriding importance. It holds the key to resolving all issues in China. What we aim for is development that is scientific, quality-based, efficient and sustainable. To achieve such development, further reform and opening-up is required. We are comprehensively deepening reform, accelerating structural reform and pursuing an innovation-driven development strategy to fully unleash the potential of economic growth. We want to make sure that the economy maintains medium-high speed of growth and moves to medium-high level of development. Since the beginning of the year, we have deepened market reform in finance, taxation, investment, financing and prices. We adopted a host of measures to lift restrictions on market access and promote fair competition. We also strengthened reform on structural adjustment. Reform in the financial sector has been advanced in accordance with market principles and rule of law. An open and transparent capital market that enjoys long-term, steady and sound development is being fostered. Meanwhile, we are stepping up risk management to make sure that no regional or systemic financial risk will occur. The high savings rate and large foreign exchange reserves means China has ample financial resources. There is plenty of water in the pool so to speak. What is important is to get the water flowing and channel financial resources into the real economy. We will continue with structural reform to tap the full potential of existing resources, and improve the allocation of resources and put them to more efficient use. Recently, we have taken a number of reform measures as we cut interest rate and required reserve ratio. Going forward, we will continue to ease restrictions on the access of private capital to the financial sector, and actively develop private banks, financing guarantee and financial leasing to better support the real economy. We have improved the quotation regime of the RMB central parity to make the exchange rate more market-based. We will continue to keep the RMB basically stable at an adaptive and equilibrium level, and gradually make the RMB convertible under the capital account. By the end of the year, the China International Payment System (CIPS) will be launched to support the further development of offshore RMB market and the "going global" strategy of Chinese equipments. Let me repeat, we will make sure that no regional or systemic financial risk will occur.

Noting the Diaoyu Islands have been China's inherent territory since ancient times, Lu reaffirmed that China's patrolling and law enforcement activities in Chinese territorial waters off the Diaoyu Islands is China's inherent right to lawfully exercise sovereignty.

NAIROBI, July 21 (Xinhua) -- Chinese entrepreneurs on a bench-marking trip to Africa on Tuesday visited one of Kenya's largest manufacturing facilities as part of plans to enhance Sino-Africa ties.

The landslide, which occurred at around 12:30 a.m. on Wednesday, brought 1 million cubic meters of dirt and debris that buried 15 dorms and three houses at the Wuzhou Mining Company in Shanyang County, leaving around 40 people missing.

UTRECHT, the Netherlands, Aug. 15 (Xinhua) -- "Seventy years on, large quantities of chemical weapons abandoned by Japan are still widely located in China. We urges Japan to accelerate the destruction of these weapons," Chen Xu, said Saturday, China's ambassador to The Netherlands and representative to the Organisation For the Prohibition of Chemical weapons (OPCW), said on Saturday.