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BEIJING, Feb. 10 (Xinhua) -- It's supposed to be a time of family reunions, new year greetings and fireworks, but blizzards and accidents on Wednesday put a damper on the Chinese New Year.The country is experiencing the peak travel period with millions of people are eager to get away from tough jobs to go home for the most important Chinese holiday, which falls on Sunday. The mass movement of people is the largest human migration on the earth.In the southern Guangdong Province, China's business hub, about 100,000 migrant workers are expected to ride motorcycles to go home to neighboring Hunnan, Guizhou and Guangxi provinces, to avoid train jams and high train ticket prices."It will be a tiring 10-hour motorcycle ride, but I can save a lot of money by not taking a train," said a migrant worker surnamed Huang who set off at 6 a.m. Wednesday for his home in neighboring Guangxi Zhuang Autonomous Region.Traffic police set up more than a dozen rest areas along major national highways so workers could warm their hands, drink some hot tea and repair their motorcycles before continuing their trip.Railway stations across the country have been crowded with millions of migrant workers carrying belongings and trying to buy tickets home. For some, this is the one chance they have per year to return home with gifts for their family. The railways are expected to carry 210 million passengers during the 40-day travel period that began January 30.But a blizzard that hit at least six provinces and regions in northern China Tuesday and Wednesday has disrupted tens of thousands of homecoming trips.Railway authorities say trains will slow down once fresh snow measures 40 cm. Train service will be halted if the snow depth exceeds 50 cm.The Ministry of Transport said at least 24 expressways were closed nationwide amid heavy snow by Wednesday morning in the provinces of Shanxi, Shaanxi, Hebei, Shandong and Henan, as well as in Inner Mongolia Autonomous Region.Besides the bad weather, traffic accidents caused by the crush of people and tired driving are straining the nerves of passengers and government officials.More than 600 traffic accidents occurred in the northwestern Ningxia Hui Autonomous Region between Tuesday and Wednesday. No casualties were reported, said the regional traffic police.In Gansu Province, nine people were killed and another 24 injured after a bus with 33 passengers veered off the road and fell into a ravine Wednesday morning near Longnan City.More than 270,000 police have been busy trying to keep order on the roads, cracking down on speeding, overloading and other offences, according to the Ministry of Public Security.The holiday is also an annual headache for authorities as workshops, mostly illegal and poorly run, are speeding up production of fireworks, a must have item when celebrating the Spring Festival.Three people died and another two were injured Wednesday after a blast in a fireworks plant in Anshun City in southwest China's Guizhou Province.

BEIJING, Feb. 1 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), the world's largest lender by market value, said Monday it extended 110 billion yuan (16.1 billion U.S. dollars) of new loans in January, less than the amount in the same period of 2009."The lending growth in January was stable and moderate, which has well satisfied the real economic demand," the bank said.The ICBC statistics showed lendings of the bank totaled 117.1 billion yuan in January 2009.The bank said it would focus on financing ongoing government projects and continue to extend more loans to small businesses, while strictly controlling loans to new projects and high energy-consuming and polluting industries.ICBC last Wednesday said its loan growth in early and mid-January was "a little fast" as many ongoing projects needed funds, but the lending pace had stabilized since, as a concentrated volume of existing loans had come due and some credit card debts had been repaid.It also announced it would maintain a "reasonable and balanced" lending rate in a move to ease mounting public concerns about possible credit cuts.To prevent economic overheating, the government last month announced it would restrict its overall credit growth to 7.5 trillion yuan in 2010, compared with last year's 9.59 trillion yuan.However, a report from Monday's Economic Information Daily said that as of Jan. 29, Chinese banks had already extended nearly 1.6 trillion yuan new loans this year.

BEIJING, March 10 (Xinhua) -- The Chinese government will adopt stricter measures to boost energy conservation this year to meet the goal set by an important five-year plan, Xie Zhenhua, vice minister of the National Development and Reform Commission, said Wednesday."It's the last and decisive year for us to realize the goals set by our country's 11th Five-Year Plan," Xie said at a press conference on the sidelines of the annual session of the National People's Congress, China's top legislature."The current energy conservation situation lags far behind the goal set in our plan and our task is still formidable," said Xie, one of China's leading negotiators for climate change talks.Under the 11th Five-Year Plan ending this year, China pledged to cut energy consumption per unit of gross domestic product (GDP) by 20 percent, or four percent each year, but consumption fell by a margin much smaller than the set target during the past four years.The per unit GDP energy consumption fell only 14.38 percent from the 2005 level.Xie said the Chinese government will enact a series of measures this year to boost energy conservation, including the introduction of an accountability mechanism for provincial governments and tight control of projects of high energy consumption and high pollution.China announced in November it aimed to reduce the intensity of carbon dioxide emissions per unit of GDP in 2020 by 40 to 45 percent compared with 2005 levels.

BEIJING, March 11 (Xinhua) -- China's February consumer price index (CPI), a main gauge of inflation, is still within normal range, although the figure surged higher than expected last month.CPI rose 2.7 percent year on year in February, 1.2 percentage points higher than January, driven by a 6.2 percent rise in food prices, the National Bureau of Statistics (NBS) said Thursday.Yang Ziqiang, head of the People's Bank of China's Jinan bureau, said the hefty rise is because the Lunar New Year holiday fell in February this year, but in January last year.The Lunar New Year holiday, or Spring Festival, is the most important traditional festival in China for family reunion. People usually spend a lot on food, alcohol, cigarettes and gifts during the period.Yang, also a deputy to the National People's Congress (NPC), China's top legislature, made the sidelines of the ongoing NPC session.China targets a rise of consumer price of around three percent this year, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session on March 5.Yang said severe inflation is unlikely to emerge this year, as market supply still outweighs demand, and government regulation on the real estate industry will help stabilize prices.But he cautioned against the consistent commodity price increases, as the international crude oil prices rebounded to above 80 U.S. dollars a barrel.Li Daokui, a financial professor with the Tsinghua University, said CPI rise exceeds the current one-year deposit interest rate, or 2.25 percent, which will enhance the expectation of interest rate rise.China's CPI ended nine months of decline in November last year, when it rose 0.6 percent, as the economy picked up thanks to the government's stimulus package.However, the unprecedented bank loans last year together with runaway housing prices pushed up fears for inflation and asset bubbles, posing a policy dilemma for the government to balance between sufficient economic growth and containing potential overheating.

BEIJING, Feb. 22 (Xinhua) -- China's exports may grow by 8 percent in 2010 but problems still existed with getting exports back to pre-crisis levels, according to a statement posted Monday on the website of Ministry of Industry and Information Technology (MIIT), quoting minister Li Yizhong.It was unlikely for China's exports to recover to pre-crisis levels in the short-term, Li said during a Sunday meeting attended by MIIT officials, attributing the slow rebound to rising international protectionism and the fact that Chinese manufacturers relied too much on overseas markets.The 8-percent growth forecast was still far below 2008's 17.2-percent increase, according to customs data.Despite overtaking Germany as the world's largest exporter, China saw its exports contract 16 percent year-on-year in 2009 as overseas demand slumped.Exports in January this year grew 21 percent on lower comparison bases a year ago due to the global economic downturn and less working days as the Lunar New Year holiday fell in January last year, said the General Administration of Customs earlier this month.Li also stressed that China should keep the yuan stable in a speech addressing the current domestic economic situation during the meeting, as international pressure on China to strengthen the yuan was intensified.