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BEIJING, July 11 (Xinhua) -- Growth of China's foreign exchange reserves are slowing as the total reached 2.4543 trillion U.S. dollars by the end of June, up 15.1 percent year on year, the People's Bank of China (PBOC), the central bank, announced on Sunday.Statistics from the central bank show China's foreign exchange reserves increased by 7.2 billion U.S. dollars in the second quarter, a drastic decrease compared to the last quarter in 2009, when reserves grew by 126.5 billion U.S. dollars.Reserves in the first quarter increased by 47.9 billion U.S. dollars.The PBOC also said the declining euro was the major reason behind the slowing growth in foreign exchange reserves.The exchange rate between the euro and U.S. dollar had fallen by nearly 20 percent between the end of 2009 and May this year, according to the PBOC.China's basket of foreign exchange reserves include the U.S. dollar, euro, Japanese yen and others.On a monthly basis, reserves increased by 43.4 billion U.S. dollars in April followed by a reduction of 51 billion U.S. dollars in May, while June saw reserves increase by 14.8 billion U.S. dollars.China's gold reserves stood at 33.89 million ounces at the end of June, according to PBOC figures.
BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.

BEIJING, Aug. 9 (Xinhua) -- Tropical storm "Dianmu" along with gusty winds will strengthen precipitation in north China as it moves north, the national meteorological agency warned on Monday.The typhoon, started Sunday night in the sea about 400 kilometers east of Taiwan, is expected to complicate flood-control efforts in northeast China, where torrential rain-triggered floods have left more than 100 people dead and missing.Heavy rains will hit parts of northeast China's Liaoning, Jilin and Heilongjiang provinces on Tuesday. Northwest China's Gansu and Shaanxi provinces will also be affected, said the National Meteorological Center.The typhoon, the fourth this year, was moving northeast at a speed of 25 km per hour. Its center was located about 390 km east of Zhejiang Province's coast Monday afternoon and will approach southern coast of the Korean Peninsula on Tuesday, said the center.
BEIJING, Aug. 16 (Xinhua) -- Ye Ling, a college student in Nanjing, got a present delivered to her doorstep Monday morning, a watch for China's Valentine's Day sent by her boyfriend from faraway Gansu Province.Her boyfriend Liu Le, a medical student, sent the gift on his way to Zhouqu in the northwest Gansu which was hit by a catastrophic mudslide. He went there as a volunteer."I ordered the gift online when I was transferring in Lanzhou (capital city of Gansu)," Liu said.Qixi Festival, or Chinese Valentine's Day, falls on Aug. 16 this year according to the lunar calendar.The festival originated from a folk tale that a fairy called Zhi Nu married a mere mortal called Niu Lang and had two children. But the Goddess of Heaven was against their marriage and when they ascended to heaven as two stars, she separated them by the Milky Way.But, according to the story, magpies felt sorry for the lovers and so every year fly up to the heaven to form a bridge, so that the lovers can reunite for a single night.Moved by the story, Chinese began to celebrate love on the date of the couple's annual reunion since the Han Dynasty (202 B.C. to 220 A.D.). In 2006, Qixi was listed as an intangible cultural heritage by China's State Council.Now as many couples are separated by work or study, people have begun looking for their modern "magpie bridge" to unite them in virtual space, enabled by the Internet.Jin Jing, a magazine editor based in Beijing, 26, planted "a tree of love" in her virtual garden, a game application on the social networking site, Kaixin001.com."My husband is working in Shanghai, and I wanted to give him the tree as a Qixi gift. I miss him."Special Qixi gifts have been on Kaixin001 since Aug. 10, and users can plant "lover fruits" or "heart-shaped tree root" in their online gardens.Lu Hua, a graduate student in Beijing, sent his girlfriend, who is pursuing a doctorate degree in Hong Kong, a MSN text to wish her happy Qixi Monday morning.Lu said he and his girlfriend celebrated the day by watching movies and TV series online simultaneously, and then exchanged ideas online by chatting via video.On the micro-blog on sina.com.cn, Qixi has topped today's topic list. Tens of thousands of bloggers expressed their views of scenarios they believed as the most romantic.A blogger identified as Kaka0403 said, "I think talking with my husband through online video is the most romantic thing, because I can see his smile and hear his voice."
BEIJING, July 25 (Xinhua) -- Party and government officials whose spouses and children have emigrated overseas are to be subject to strict examination when applying for private passports and going abroad, according to a new regulation released Sunday.A provisional regulation by the General Offices of the Communist Party of China (CPC) Central Committee and the State Council specified new rules overseeing the issuing of private passports and travel passes to Hong Kong, Macao and Taiwan to such officials.Party and government leaders of this kind have become so renowned in China that they have a shared nickname, "naked officials." They usually moved their spouses and children, as well as their assets, to foreign countries, and they put the money into their wives' or children's bank accounts. Even if they were eventually apprehended, the wealth transferred to overseas banks still belonged to the officials' families.According to the new rules, "naked officials" should submit written accounts on all income and property owned by their spouse and children living overseas, and on any changes in their financial conditions."Officials whose duties or services are related to the countries and regions their spouses and offspring are living in should voluntarily report it to their higher authorities. If conflicts of interests are involved, the officials must avoid holding related posts," the regulation said.The regulation stated that such officials should "strictly comply with relevant laws and regulations" when applying for passports and travel passes, or applying for traveling or emigrating abroad.Officials above deputy-county head level applying for passports should consult with their higher authorities, it said, adding that a thorough examination should be conducted when promoting officials whose family members have emigrated abroad.A statement from the CPC Central Committee General Office said the new regulation is "an important anti-corruption measure" to make officials self-disciplined, clean, reliable and to be people of integrity."The regulation not only stresses education, management and supervision of civil servants whose spouse and offspring live aboard, but also focuses on the protection of their interests and working enthusiasm," it said.The regulation covers all civil servants, but excludes those top-ranking specialists in high-tech fields who have been recruited from overseas, along with high-qualified overseas returnees.Experts say this is the latest effort to place officials' actions in the public's view.In September 2009, the CPC Central Commission for Discipline Inspection first ordered increased oversight of "naked officials."The municipal government of Shenzhen of southern Guangdong Province then implemented regulations in November 2009, including provisions saying that "naked official" should not become department chiefs or leading members of key departments.Earlier this month, the two general offices issued another regulation, designed to curb corruption and increase transparency about the assets of government officials. It required officials at deputy county chief level and above to annually report their assets, marital status, whereabouts and employment of family members.The reporting system for monitoring Party and government officials was set up in 1995, and revised in 1997 and 2006 by broadening the list of items and adding detailed procedures.Prof. Li Chengyan of Peking University said the two regulations that were announced recently were "a substantial step" towards the establishment of an asset declaration system for China's civil servants.
来源:资阳报