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BEIJING, May 28 (Xinhua) -- Lending by Chinese banks may drop to 600 billion yuan (88 billion U.S. dollars) in May as the central government winds down its stimulus program and cools the property market to prevent the economy from overheating, the Shanghai Securities News reported Friday.A fall in bank lending in May is expected after the government introduced a raft of measures to curb the skyrocketing property market in April. The measures included a ban on lending for third home purchases and increased scrutiny of developers' financing, the report said.Lu Zhengwei, an economist at Industrial Bank, estimates Chinese banks' May lending will be 450 billion yuan to 650 billion yuan, compared with 774 billion yuan in April."China has asked banks to strictly control lending to industries with overcapacity and to stop lending to new projects not in the 4-trillion-yuan stimulus package. These will be major reasons for a drop off in May lending," he said.China's banks lent 3.37 trillion yuan in the first four months of the year, about 45 percent of the government's full-year 7.5-trillion-yuan lending target.The National Bureau of Statistics is due to release major economic data for May, including new bank lending, mid-June.

HARBIN, May 16 (Xinhua) -- Seven people were killed, and 98 more injured after a tornado and hailstorm struck northeast China's Heilongjiang Province Saturday, a local official source said Sunday.Altogether 8,502 people were affected, among whom 3,684 were evacuated, after 28 townships of Suihua City, about 120 km from the provincial capital Harbin, were hit by the violent weather from 3:15 p.m. to 5:50 p.m. Saturday, Suihua's emergency response office said in a statement.A total of 1,015 houses were toppled down in the tornado, and Minqiang Village of Gongrong township was hit the hardest, with the roofs of every house being uplifted, it said.Five people of Beilin District and one from Suihua's Lanxi County were killed. The strong wind tore through eight townships of Hailun city under the jurisdiction of Suihua, killing one more people."I was cooking at the outer room when the tornado came. I attempted to close the window, but the wind was so strong and fast that the house collapsed before I could close it," said Wang Junxia, a woman from Xinquan Village of Beilin District, Suihua City.Wang was temporarily buried beneath bricks, but she managed to crawl out of the rubble and saved by the rescuers.Relief work was underway.Two hundred quilts and more than 500 kg of bread were sent to the affected Beilin District.

WASHINGTON, March 29 (Xinhua) -- The United States on Monday reaffirmed its commitment to the one-China policy, saying that it' s a commitment that should be the bedrock of the foundation of its relationship with China."The U.S. position on one-China policy is unchanged," Deputy Secretary of State James Steinberg said at a briefing at the Foreign Press Center in downtown Washington D.C.. U.S. Deputy Secretary of State James Steinberg speaks at a briefing at the Foreign Press Center in downtown Washington D.C., capital of the United States, March 29, 2010. The United States on Monday reaffirmed its commitment to the one-China policy, saying that it's a commitment that should be the bedrock of the foundation of its relationship with ChinaThe deputy secretary made the remarks in response to a question about whether the Obama administration remains committed to the one-China policy and the principles of the three China-U.S. joint communiques."It (the one-China policy) serves us very well. We have consistently through Democratic and Republican administrations understood those agreements and principles be the foundation of building an ever stronger relationship (with China)," Steinberg said."So there is no change. It's a commitment that we understand be the bedrock of the foundation of the relationship between the two countries," he added.The deputy secretary appeared to be quite positive about U.S.- China relationship despite recent troubles between the two countries caused by the announcement of new U.S. arms sales to Taiwan in January and President Barack Obama's meeting with the ** Lama in February."I think it is fair to say for the first 15 months of the new administration here, U.S.-China relations have been extremely constructive," Steinberg said in his opening remarks at the briefing."I think we avoided the dangers of transition that often happen in our relations with China and were able to start a very stable and promising course on our relationships, beginning with a phone call between (Chinese) President Hu (Jintao) and President Obama in February of last year, their meeting in London at the G-20 in April and culminating in President Obama's visit to China last fall," he said.At the levels of the Cabinet, he said, the two sides have seen the deepening of bilateral ties through the creation of the Strategic and Economic Dialogue (S&ED), which really reflects both the breadth and the depth of U.S.-China relationship.Steinberg said he knew that in recent months there's been speculation about whether there's been a change in U.S.-China relationship because of differences between the two sides on issues related to Taiwan, Tibet, as well as economic and trade policy.He said his trip to China early this month, along with National Security Council Senior Director for Asian Affairs Jeffrey Bader, provided a chance for both sides to discuss how to build on strong bilateral dialogue to seize the opportunities in the relationship and the need for the two countries to work together, as well as to manage their differences.During the trip, Steinberg said, the U.S. side had made clear that it does not support "Taiwan independence," welcomes recent improvements in cross-strait relations and hopes that the improvements will continue and expand.He added that the U.S. side had also reaffirmed its position that it does consider Tibet to be a part of China and does not support "Tibet independence."Steinberg said the two sides also discussed issues in economics and trade as well as security issues, such as the nuclear issues of the Korean Peninsula and Iran.

BEIJING, April 1 (Xinhua) -- China's average daily stock trading volume at the Shanghai Stock Exchange shrank 35.2 percent month on month to 96.85 billion yuan (14.2 billion U.S. dollars) in February, the People's Bank of China (PBOC) said Thursday.China's stock market was closed from Feb. 13 to 19, for the Spring Festival, the most important Chinese traditional holiday.Analysts held that trading was normally bleak in the Spring Festival month, as some investors preferred to cash in profits before going back to hometowns for family gatherings and some were cautious before the release of new economic data after the holiday.The Spring Festival fell in January last year. The daily average stock turnover was down 3.38 billion yuan to 65.4 billion yuan in January 2009 compared with December 2008, according to the PBOC.The benchmark Shanghai Composite Index edged up 110.58 points from Feb. 1 to 3,051.94 points on Feb. 26 this year, the last trading day in the month, the central bank said in a financial market report released Thursday on its official website.China's financial market kept its smooth run in January and February, said the PBOC.The Shanghai Composite Index gained 1.23 percent, or 38.32 points, to end at 3,147.42 points Thursday. The turnover at the Shanghai Stock Exchange was 154 billion yuan, showing investors' heartened confidence in economic recovery.Thursday's official figures revealed that the Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from February, the 13th straight month that the index was above 50 percent.

PYONGYANG, May 9 (Xinhua) -- The Rodong Sinmun, a leading newspaper of the Democratic People's Republic of Korea (DPRK), hailed the recent successful visit to China by top leader Kim Jong Il in an editorial published Sunday.The editorial said that the people of the DPRK are "very glad and excited" about the visit. It is a "meaningful opportunity" to strengthen the friendship between the two parties and the leaders of the two countries.The article also indicated that the DPRK will make efforts to further strengthen the traditional DPRK-China friendship.Both countries shared the view that peace, stability and prosperity of the Korean Peninsula are in the common interests of the two countries and other Northeastern Asian nations, the editorial said.The two sides will make joint efforts to achieve the objective of denuclearizing the Peninsula on the basis of the Sept. 19 Joint Statement, it added.The editorial also said that the people of the DPRK sincerely wish the Chinese people still greater achievements in their socialist construction and the cause for national reunification.Kim Jong Il made an unofficial visit to China from May 3 to 7. He has visited China for five times since 2000.