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BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.

ZHENGZHOU, July 28 (Xinhua) -- The death toll from a bridge collapse last Saturday in central China's Henan Province has risen to 37 with 29 still missing, rescue headquarters said at Tuesday midnight.Among the killed people were three tourists. The headquarters counted retrieved bodies and asked family by family about missing people to get the numbers, which may rise as witnesses say they saw about 100 people on the bridge when it collapsed.China Central Television (CCTV) reported Tuesday night that at least 50 people died in the collapse without giving the source.The Yi River Bridge collapsed at about 5 p.m. Saturday in Luanchuan County, Luoyang City, plunging the people on it into the rushing waters, a local government spokesman said.Thousands of rescuers are still searching for missing people and possible survivors.Villagers from seven villages and soldiers have launched a massive search for survivors, said Li Guangming, deputy head of the administrative office of Luanchuan county government.The rescuers are focusing on spots that could hold people who were rushed away by torrents, such as banks with lush plants, said Qi Weiming, deputy head of Luanchuan's military office.News broke of the accident after Luanchuan's government wrote an apology which was published in Monday's Luoyang Daily, saying "we are deeply sorry for the heavy loss of life ... and we take responsibility.""The bridge was crowded with people who had come to watch flood torrents when it collapsed. They were villagers and tourists from a nearby nursing home," said survivor Li Xianghong in an interview with local media Dahe Daily."More than 10 people fell with me, including my nephew, at the southern end of the bridge which collapsed first. For a moment, the river was full of struggling people."Li was caught by a tree branch and rescued by other villagers.Witnesses say the two ends of the bridge collapsed first. And the whole bridge fell in about one or two minutes, most people on it did not manage to escape.The bridge, built in December 1987, was over 200 meters long and more than 10 meters high. It was the only bridge on a about 4-km section of the river.An initial probe shows the dilapidated bridge collapsed after fallen tree trunks became stuck under it, blocking the passage of the raging flood waters, Luoyang officials said.Officials said they were continuing the investigation and vowed to severely punish those who were to blame.The flood has damaged a local tap water plant, cutting drinking water supply to the county's residents. Transport to the county was also disrupted by the flood with some bridges and roads damaged.

UNITED NATIONS, July 7 (Xinhua) -- China on Wednesday called on the UN Security Council to address the root cause of the armed conflicts in order to better protect civilians in such conflicts, which often took place in regions with backward economic and social conditions.The statement came as Wang Min, the deputy Chinese permanent representative to the United Nations, was taking the floor at an open Security Council debate on the protection of civilians in armed conflicts."As the organ which has the primary responsibility for the maintenance of international peace and security, the Security Council is duty bound to address the issue of the protection of civilians in armed conflicts," Wang said.China supports the Security Council in its efforts to strengthen the protection of civilians in armed conflicts, he said, voicing his deep concerns with the fact that civilians are the subject of threat and violations in armed conflicts."The Security Council should pay attention to the root cause of the problem and invest more energy in preventing and controlling conflicts," he said. "At the same time, efforts should be made to put the protection of civilians in armed conflicts into the overall framework of the political process for the peaceful settlement of conflicts.""The responsibility for the protection of civilians lies primarily with national governments," he said. "While the international community provides constructive assistance, it must do so in compliance with the UN Charter, respect the sovereignty of the countries concerned and avoid the interference of their international affairs.""On the issue of impunity, we are in favor that the domestic judicial system of the countries concerned can play the role of the main channel," he said.At present, the key is to ensure the comprehensive, equitable and effective implementation of the whole set of international law and rules that are already put in place in the field of protecting civilians in armed conflicts, he said, adding that relevant UN and treaty organs can continue to play an important role in this regard.

BEIJING, Aug. 7 (Xinhua) -- Prosecutors will have to obtain approval from a higher-level prosecutorate before they order arrest warrants for suspects accused of defamation, officials with China's Supreme People's Procuratorate (SPP) announced Saturday.The move came only days after police of Suichang County in Zhejiang Province canceled a warrant for Qiu Ziming, a reporter from the Economic Observer News, who was accused of defamation by a publicly-listed company.The quality of handling criminal cases is the "lifeline" of the work in investigating, supervising and examining police applications to arrest persons implicated in a crime, according to a statement issued by the SPP."To issue low-quality or even incorrect arrest warrants not only violates people's legitimate rights, but also severely undermines the credibility of prosecuting authorities and tarnishes the image of the Communist Party of China and the government," it says.China's Criminal Procedural Law delegated different responsibilities to the three branches of the justice system -- the courts, the prosecutors and the police. Before formally issuing an arrest warrant, prosecutors are required to examine police applications and investigations.In Qiu's case, the reporter had been wanted by the police of Suichang after Zhejiang Kan Specialty Material Co., Ltd. (Kan) accused him of defaming the company by reporting fabricated stories.However, police of Lishui City, which administers Suichang, ordered the county's public security bureau to cancel the warrant for Qiu after a review found the warrant failed to meet statutory requirements.

来源：资阳报