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BEIJING, April 11 (Xinhua) -- China's banking regulator said on Sunday that banks should not extend loans to home buyers who intend to use the money for speculative purposes.Lenders should increase their awareness about financial risks and raise the down payment ratio "by a large margin", said the China Banking Regulatory Commission (CBRC) in a statement.Down payment ratio of a second or more houses should be no less than 40 percent and the interest rates should be strictly in line with risks, according to the statement.The action is the latest in a campaign by the central government to dampen China's overheated property market.
BEIJING, May 15 -- China is planning to raise the proportion of profits it collects from major State-owned enterprises (SOEs) in a move to balance income distribution, but analysts said the move should be bolder and the collected profits used to improve public well-being.The Ministry of Finance said on Tuesday that it might raise the ratio of profits of SOEs to be submitted to the State coffers.According to existing rules, monopoly enterprises under the administration of the central government in sectors like tobacco, oil, petrochemicals, power, telecommunications and coal mining should submit 10 percent of their post-tax profits, while the ratio for those in the iron and steel, transportation, electronics and trade sectors should be 5 percent.Financial corporations and companies in sectors like railways, transportation, education, culture, science and technology and agriculture are not included in the profit submission framework.The Ministry of Finance did not reveal by how much the ratio would be raised."It should be raised properly, and even if it were raised by 10 percentage points, it doesn't matter too much for those central enterprises, given their high profit level," said Zhang Wenkui, researcher with the State Council's Development Research Center.Central enterprises have been criticized by the public for having taken advantage of their monopoly or market predominance to make excessive profits. Some of them have further fueled public anger as they bid to purchase land at high prices, which is believed to have pushed up home prices.The central government collected profits of 14 billion yuan ( billion), 44.4 billion yuan and 98.9 billion yuan respectively in 2007, 2008 and last year from SOEs. In 2009 alone, however, the enterprises made profits totaling 965.6 billion yuan.
BEIJING, May 14 (Xinhua) -- China's Ministry of Agriculture Friday ordered local departments to strengthen field management to ensure the summer grain output after prolonged extreme weather in some areas.China faced with a challenging grain situation this summer as persistent cold weather had ravaged major production zones since the winter, which prolonged growing season for wheat and raised the risk of dry hot wind and heavy rains during the harvest time, said Wei Chao'an, Vice Minister of Agriculture.Wei urged authorities to intensify disaster and pest disease prevention, and to quickly harvest in fine weather.According to the ministry, China needs to maintain an annual grain output of 500 million tonnes to feed the nation's 1.3 billion people.China's summer grain output rose six years in a row to top 123.35 million tonnes last year, 2.6 million tonnes more than the previous year. Grain output reached 530.8 million tonnes in 2009, the sixth consecutive year of a growth in grain yield.
NANNING, June 3 (Xinhua) -- The death toll from rain-triggered landslides and flooding in south China's Guangxi Zhuang Autonomous Region rose to 44 Thursday.Eight people were still missing, said a statement from the regional flood control and drought relief headquarters.In Rongxian County alone, the death toll climbed to 27 after four more bodies were recovered Thursday.In Cenxi County, 12 people were confirmed dead as of Wednesday night.Three deaths were reported in Tengxian County, Donglan County and Fangchenggang City.Rescuers search for trapped persons in Beigeng Township, Xincheng County, south China's Guangxi Zhuang Autonomous Region, June 3, 2010.Two primary school students, sisters aged 8 and 10, had been found drowned in Laibin City where flooding forced many schools to suspend classes.More than 600 residents in two villages in Laibin had been evacuated because of land subsidence Thursday. Four pits and cracks were reported near the villages, with the biggest having a diameter of more than 70 meters and depth of 20 meters.Increased water flow in underground rivers in wake of the torrential rains could have caused the subsidence, a Laibin municipal government official said.Heavy rains began pounding Guangxi Monday and triggered landslides early Wednesday.Across Guangxi, the rainstorms had battered 27 counties and 144,800 people had been evacuated by 4 p.m. Thursday, the regional civil affairs bureau said.In addition, 8,123 houses had collapsed and 161,830 hectares of crops had been damaged. The direct economic losses were estimated at 1.2 billion yuan (176 million U.S. dollars).
BEIJING, May 31 -- Evidence obtained illegally - such as through torture during interrogation - cannot be used in testimony, particularly in cases involving the death penalty, according to two regulations issued on Sunday.A death sentence should be pronounced only with sufficient evidence acquired through legal means, stipulate the two regulations: One on evidence review in death sentence cases, and the other on excluding illegal evidence in criminal cases.Jointly issued by the top court, the top procuratorate, the ministries of public security, state security and justice, they are the first specific rules on collection of evidence and review in criminal cases.The first regulation sets out principles and rules for scrutinizing and gauging evidence in cases involving the death penalty, and the other sets out detailed procedure for examining evidence and for excluding evidence obtained illegally.They are expected to cut down on death sentences and reduce forced confessions, experts said.The regulations make it clear that evidence with unclear origin, confessions obtained through torture, or testimony obtained through violence and intimidation are invalid, particularly in death sentences."Not a single mistake is allowed in fact finding and collection of evidence in cases involving the death sentence," said a written Q&A released by the five central departments on Sunday.The new regulations define illegal evidence and include specific procedures on how to exclude such evidence.Lu Guanglun, a senior judge at the Supreme People's Court, said such details do not exist in the Criminal Procedure Law and its judicial interpretations."This is the first time that a systematic and clear regulation tells law enforcers that evidence obtained through illegal means is not only illegal but also useless," said Zhao Bingzhi, dean of the law school at Beijing Normal University."Previously we could only infer from abstract laws that illegal evidence is not allowed. But in reality, in many cases, such evidence was considered valid," he said."This is big progress, both for the legal system and for better protection of human rights," he said. "It will help reduce the number of executions".Zhao said the new rules will also help change the mindset of law enforcers and reduce torture in interrogation, one of the causes of wrongful sentences.Ever since the top court started reviewing all death sentences in 2007, the overall quality of handling criminal cases has improved, but a lot of problems still remain, the joint Q&A said.In 2008, the top court announced that about 15 percent of death sentence verdicts by lower courts in 2007 were found to have faults.On May 20, Zhou Yongkang, secretary of the Communist Party of China Central Political and Legislative Committee, said at a meeting that "the criminal legal system should be perfected and law enforcers should improve their capability to ensure that every case handled can stand the test of law and time". Lu at the top court said the new rules will help prevent wrongful convictions like the one in which an innocent villager in Henan province was wrongly prosecuted.The case of Zhao Zuohai, who stayed behind bars for 11 years until the man he allegedly murdered turned up alive on April 30, has attracted national attention and triggered public criticism of judicial officers after Zhao said he was tortured by local police to confess.Three former police officers have been arrested for allegedly torturing Zhao."Such cases seriously undermine the image of China's justice system and people's trust in the government," said Bian Jianlin, a law professor at China University of Political Science and Law.