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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.

BEIJING, July 17 (Xinhua) -- Chinese Premier Wen Jiabao attended Friday the cremation ceremony of renowned philosopher, religion scholar and historian Ren Jiyu, who died on July 11 at the age of 93.     Ren was born in 1916 in Pingyuan County in east China's Shandong province. He joined the Communist Party of China (CPC) in1956.     "Ren conducted research and education in the fields of Chinese philosophy and religion for a long time. He has made significant contributions to the country's cultural industry by compiling historical materials," said a statement issued by the Publicity Department of the CPC Central Committee. Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, shakes hands with a relative of renowned Chinese scholar Ren Jiyu during Ren's funeral in the Babaoshan Revolutionary Cemetery in Beijing, capital of China, July 17, 2009. Ren, outstanding philosopher, religion scholar, historian and honorary director of the National Library of China, died on July 11 at the age of 93.The cremation ceremony was held Friday morning at the hall of the Beijing Babaoshan Cemetery. Li Changchun, a member of the Standing Committee of the CPC Central Committee Political Bureau, also attended the ceremony.     Chinese President Hu Jintao, along with former President Jiang Zemin, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang offered their condolences to Ren's family after Ren's death.

L'AQUILA, Italy, July 8 (Xinhua) -- Chinese State Councilor Dai Bingguo, who was to attend outreach session of the G8 Summit on behalf of Chinese President Hu Jintao, met here on Wednesday with Jacob Zuma, president of South Africa, calling for deepening cooperation between the two countries.     During the meeting, Dai conveyed President Hu's greetings and congratulations to Zuma on his victory in the general election, according to a press release issued by the Chinese delegation. Chinese State Councilor Dai Bingguo (L) meets with President of South Africa Jacob Zuma in L'Aquila, Italy, July 8, 2009. On behalf of Chinese President Hu Jintao, Dai Bingguo will attend a dialogue meeting of the Group of Eight and the Group of Five major developing countries in the central Italian city of L'Aquila.Dai said both China and South Africa are important developing countries, and deepening the bilateral strategic partnership is not only in the basic interest of both countries and both peoples, but also helpful to the substantial cooperation between China and Africa at large.     As the global financial crisis has crippled the world economy and exerted negative impact on the people's life, Dai called for further all-around cooperation between the two countries. Chinese State Councilor Dai Bingguo (2nd L) meets with President of South Africa Jacob Zuma (2nd R) in L'Aquila, Italy, July 8, 2009. On behalf of Chinese President Hu Jintao, Dai Bingguo will attend a dialogue meeting of the Group of Eight and the Group of Five major developing countries in the central Italian city of L'Aquila.According to Chinese diplomats, the state councilor offered a four-point proposal on boost bilateral ties: to conduct more political communication and exchange, to expand trade and deepen economic cooperation, to encourage more exchange of visits, and to enhance cooperation and coordination in international organizations as well as on multinational diplomatic occasions.     Zuma, on his part, said South Africa attaches importance to its ties with China, willing to coordinate more on international issues and deepen the friendly cooperation between the two countries.     Zuma also extended his thanks for China's aid to Africa, according to the press release.     On the international issues, Zuma said the international community should enhance cooperation to jointly address the global challenges like economic recession and climate change. 

URUMQI, July 7 (Xinhua) -- More than 60 overseas media have sent journalists to Urumqi, capital of northwest China's Xinjiang region, after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured.     "We disclosed information shortly after the incident. We welcome domestic and overseas journalists to come and see what happened," Hou Hanmin, deputy head of the publicity department of the Communist Party of China (CPC) Xinjiang regional committee, said Tuesday. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"As long as security can be guaranteed, we will try our best to arrange interviews," the official said, adding the country was moving ahead on information disclosure.     Sixty overseas news media and 80 domestic news media organizations attended a press conference Tuesday afternoon, at which the Urumqi mayor said identification of the dead in the riot is underway.     "The government adopts a much more open attitude toward the media after the incident, compared with that after the March 14 unrest in Tibet and the Sichuan earthquake last year," said Ted Plasker in fluent Chinese. He is a journalist with The Economist who has been in China since 1989. Chinese and foreign journalists work at the press center established at Hoi Tak Hotel in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"I saw tight security and very little traffic in the city," said Plasker, who arrived in Urumqi Monday afternoon.     "I have been to the scene and the hospitals. It's horrible to see the people drenched in blood and the shattered shops. Many people who had been attacked told me they did not understand why it happened."     Plasker said he himself wanted to know why such a violent riot had happened. Chinese and foreign journalists cover events in the street of Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, July 7, 2009. More than 60 overseas media have sent journalists to Urumqi after a riot broke out in the city Sunday, leaving 156 people dead and 1,080 others injured"Some places in the city were surrounded by policemen and traffic control could be seen," he said. "But I understand it's for our safety."     Choi Yoo Sik, a journalist from South Korean daily Choson Ilbo, said the Chinese government was very open on the incident. "We foreign journalists can interview anybody, Han or Uygur. I have got enough information for my stories."     However, when speaking about the situation in the street, he frowned and said, "it is still dangerous at the moment."     Urumqi authorities have opened a news center, equipped with more than 50 computers with Internet access, to both Chinese and foreign journalists since Monday afternoon.

BEIJING, June 18 (Xinhua) -- China's political advisors Thursday underlined the importance of a proactive fiscal policy and a more active employment policy to cope with the global downturn.     They offered their advice as the standing committee of the 11th Chinese People's Political Consultative Conference (CPPCC) National Committee continued its sixth meeting, which started here Tuesday.     The committee members warned of difficulties ahead, citing the worsening impact of the global slowdown, and called for more efforts from all sides to combat the situation.     They also stressed the importance of a moderately easy monetary policy, increased investment in improving living standards, and expanded coverage of social security.     Jia Qinglin, chairman of the National Committee of the CPPCC, was present at the meeting.