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BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

BEIJING, Nov. 30 (Xinhua) -- A senior official of the Communist Party of China (CPC) has called for more efforts to deepen judicial reform in the coming year to better ensure social justice."The year 2011 is the first year for the country's 12th five-year-program period, and is also a key year for us to improve judicial systems and working systems," Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and secretary of the Commission for Political and Legal Affairs of the CPC Central Committee, said Tuesday during a meeting.While urging thorough implementation of various policies of reform put forward this year, Zhou encouraged more opinions and ideas on reform issues for the next year.During the meeting, opinions put forward by the Supreme People's Court were heard regarding the legal procedures for reviewing death sentences, the security system for judicial professionals and the judgment and supervision of people's courts.The meeting also reviewed opinions on procuratorial agencies' legal supervision on civil and administrative lawsuits.

BEIJING, Dec. 2 (Xinhua) -- A senior leader of the Communist Party of China (CPC) vowed Thursday to enhance mutual political trust with France.Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the pledge during his meeting with former French Prime Minister Jean-Pierre Raffarin and General Secretary of the Union for a Popular Movement (UPM) Jean-Francois Cope in Beijing.Li recalled Chinese President Hu Jintao's visit to France last month, saying it indicates Chinese-French relations have reached a new high.Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with former French Prime Minister Jean-Pierre Raffarin in Beijing, capital of China, Dec. 2, 2010. As permanent members of the Security Council of the United Nations and members of the Group of 20, China and France share common interests and bright prospects for cooperation, he said.Li applauded the close contact between the CPC and UPM, saying the CPC will bolster exchange with UPM, especially between young politicians.The French guests hailed French-Chinese ties and cooperation and pledged to work for closer cooperation and exchange. 

BEIJING, Dec. 22, (Xinhua) -- China has rejected the Vatican's criticism of a recent national congress of Chinese Catholics, blaming the Vatican for damaging relations between the two sides.A spokesperson for the State Administration for Religious Affairs (SARA) said Wednesday the Vatican's criticism was very imprudent and ungrounded.In a statement dated Dec. 17, the Vatican condemned the congress, which elected the new leadership of China's Catholic church, and accused China of violating religious freedom.The congress from Dec. 7 to 9 elected the heads and other senior members of the Chinese Catholic Patriotic Association (CCPA) and the Bishops' Conference of the Catholic Church in China (BCCCC).The spokesperson said the congress, which is held every five years to amend the CCPA's and BCCCC's constitutions, elect a new leadership and set future agenda, does not deal with Catholic doctrines or violate the fundamental Catholic faith, and "there is no question of getting recognition by any foreign organization or state."The spokesperson said China's religious freedom was protected by the Chinese Constitution, and it was a misinterpretation by the Vatican to declare the incompatibility of Catholic doctrine and the Chinese Catholic church's principle of independent self-governance.China's Constitution grants Chinese citizens freedom of religious beliefs, but requires independence of religious organizations and affairs in China from foreign influence.Under this constitutional provision, the Catholic church and other religions in China adhered to the principle of self-governance and self-support, the spokesperson said.The CCPA and the BCCCC endorsed this principle in their new constitutions adopted at the congress, according to the spokesperson."The BCCCC fulfills her Pastoral Mission at the Faith and Evangelization according to the power and authority of our Lord Jesus Christ and the Holy Spirit endowed upon His Disciples," said the BCCCC's constitution.On the dogma and moral teachings of the Church, the constitution said the BCCCC is "in union with the Successor of St. Peter, the Head of the community of the Disciples.""Has the Vatican not read the two constitutions? Or is it obscuring the boundary between faith and politics on purpose?" the spokesperson said in response to Vatican's declaration of the incompatibility of the constitutions with Catholic doctrine.