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BEIJING, June 2 (Xinhua) -- Representatives from the Communist Party of China (CPC) and the ruling United Russia Party met Tuesday to exchange views on the international financial crisis.     "This is the first official and high-level dialogue between the Chinese and Russian ruling parties," said Wang Jiarui, head of the International Department of the CPC Central Committee of his meeting with United Russia Party's council presidium secretary Vyacheslav Volodin.     Wang and Volodin signed an agreement on party-to-party cooperation on later Tuesday. Chinese Vice President Xi Jinping attended the signing ceremony.     Xi hailed the Sino-Russian relationship when meeting with Volodin before the ceremony, saying that China would work with Russia to promote stable and healthy growth of the ties, in a bid to benefit the two nations and peoples. Chinese Vice President Xi Jinping (R) meets with Vyacheslav Volodin, vice chairman of the Russian State Duma, in Beijing, capital of China, June 2, 2009    Volodin, and vice-chairman of the Russian State Duma, said his party valued the cooperation with the CPC.     Volodin and his delegation were here on a visit from May 31 to June 3 at the invitation of the International Department of the CPC Central Committee.

GUANGZHOU, May 24 (Xinhua) -- Heavy rains continued to hit south China's Guangdong Province on Sunday, triggering flood alert as rivers were swelling.     The downpours continued to sweep the Pearl River Delta area from 8 a.m. to 2 p.m. Sunday. Sixteen observation sites reported precipitation of more than 100 millimeters, the Guangdong Provincial Hydrological Bureau said.     Two people were killed in a rain-triggered landslide Friday midnight, in Xingning city in Guangdong's northeast.     The Changsha hydrological station in the lower reaches of the Tanjiang River saw a 2.5-meter-high water level at 11:35 a.m. Sunday, 40 centimeters higher than the warning level.     Another one, the Moyang river in western Guangdong is also swelling and expected to have a 5.8-meter flood peak at midday Monday.     From 8 a.m. Friday to 8 a.m. Sunday, the whole province had an average rainfall of 58 mm, with 170 mm in the Pearl River Delta area.     The provincial flood control and drought relief authorities have ordered local governments to closely monitor weather changes and brace for possible flooding.

BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao has called for more confidence in the country's stable economic growth and gaining more strength to better people's livelihood.     He made the calls during an inspection tour in northeastern China's Heilongjiang Province from June 26 to 28, one of the country's old industrial bases and important granaries.     Hu encouraged people in Heilongjiang to seize the opportunity as China moved to revitalize its old industrial bases, to overcome the difficulties and maintain a steady economic growth and ensure people's livelihood. Chinese President Hu Jintao (C) talks with residents at Dongsheng Village in Wuliming Town of Zhaodong City, northeast China's Heilongjiang Province. President Hu Jintao made an inspection tour in Heilongjiang Province on June 26-28, 2009.     During his three-day inspection tour, Hu visited Harbin Measuring and Cutting Tool Group and Harbin Aircraft Industry Group, two of the province's major industrial enterprises, and pointed out that independent innovations are key to high competitiveness and further development.     "Crisis creates opportunities, and we shall put more efforts in technological upgrading, and build up technology reserves for the future," he said.     Hu also visited rural areas and inspected crop growth. He encouraged farmers to increase grain production and boost agricultural modernization, so as to ensure the country's grain security.     More supportive policies for farmers are on the way, he said, hoping that farmers could increase their incomes with improved policies and technologies.     Hu also visited an oil field, a military camp, a school for intellectually challenged children, a human resources market, and a residential community which houses people who formerly lived in shanties.

GUANGZHOU, July 19 (Xinhua) -- Typhoon Molave hit land in south China early Sunday, with heavy rain forecast in most parts of the Guangdong Province in the following two days, local observatory said.     Molave, the 6th tropical storm this year which became typhoon, landed at Nanao town in Shenzhen City of Guangdong Province at 0:50 a.m. Sunday Beijing Time, with winds up to 145 km per hour in its eye.     Strong gales and heavy rains hit Shenzhen City, resulting in water flowing on streets. However, as residents and vehicles were scare during the night, the weather had no major impact on local people's living yet. Photo taken at about 2:30 a.m. Beijing Time on July 19, 2009 shows the swaying trees in the rainstorm along the Binhe Avenue in downtown Shenzhen City, south China's Guangdong Province. Molave, the 6th tropical storm this year which became typhoon, landed at Nanao town in Shenzhen City at 0:50 a.m. Sunday Beijing Time, local observatory said.     As of 2:30 a.m. Sunday, the city hadn't reported any serious damages.     In the neighboring Fujian Province, more than 600 fishing boats were in the Xiangzhi National Fish Harbor of Fujian province, where soldiers were helping anchor the boats. They also persuaded some 3,000 fishermen to evacuate.     In the cities of Zhangzhou, Quanzhou, Putian and Fuzhou where the typhoon was likely to affect, 1,680 people in vessels returned to seek shelters on land.     The State Flood Control and Drought Relief Headquarters has dispatched five emergency task forces Saturday to Sichuan, Heilongjiang, Gansu, Guangdong and Fujian provinces to help prepare for the typhoon and possible flooding.Photo taken at about 4:30 a.m. Beijing Time on July 19, 2009 shows a broken tree in the rainstorm on a street in downtown Shenzhen City, south China's Guangdong Province.

BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

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