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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.

DUNHUA, Jilin, Aug. 7 (Xinhua) -- When a flash flood struck their village ten days ago, 55-year-old Fu Bailin and his relatives had no time to take any belongings as they fled, except for a bill of debt."All our belongings have been swept away. My 100-square-meter house was flattened. My 2.5-hectares of cropland was destroyed," said Fu, a soybean and corn farmer at the Yaodianzi Village in Dunhua City, Yanbian Korean Autonomous Prefecture in northeast China's Jilin Province.All the houses of the 286 families in the village were destroyed. Fu's family, including Fu, his 70-year-old father, his wife and son, along with their fellow villagers, now live in temporary tents in the local forest police headquarters in Dunhua. The forest police also provide meals for them.Floods have left 85 people dead and 66 missing in Jilin over the past two months, local authorities said Saturday.More than 5 million people have been affected since the flood season began in June and some 1.5 million people have been evacuated, the Jilin Provincial Civil Affairs Department said in a statement.Additionally, almost 82,000 houses have collapsed and 198,000 others have been damaged, the statement said.Economic losses were estimated at 45 billion yuan (6.6 billion U.S.dollars), it added.In the hardest-hit areas, flash floods have cut roads, isolated villages and disrupted communications and water supplies.Compounding the problems, more downpours were forecast to hit the province in the coming two days.

BEIJING, Aug. 6 (Xinhua) - China's Ministry of Agriculture Friday urged local authorities in flood-hit regions to step up efforts to resume agricultural production and create favorable conditions for the autumn harvest following this summer's severe floods.Local departments were ordered to accelerate water drainage, restore damaged infrastructures, strengthen field management, and plant mung bean, potatoes and buckwheat, which have short growth periods, to make up for losses, according to an official from the ministry.The official also required departments to clear away and carry out bio-safety disposal of dead livestock, while increasing epidemic control measures.As of July 21, more than 7 million hectares of farmland in China had been destroyed by torrential rains and floods, according to data from the State Flood Control and Drought Relief Headquarters.

BEIJING, Aug. 6 (Xinhua) - China's Ministry of Agriculture Friday urged local authorities in flood-hit regions to step up efforts to resume agricultural production and create favorable conditions for the autumn harvest following this summer's severe floods.Local departments were ordered to accelerate water drainage, restore damaged infrastructures, strengthen field management, and plant mung bean, potatoes and buckwheat, which have short growth periods, to make up for losses, according to an official from the ministry.The official also required departments to clear away and carry out bio-safety disposal of dead livestock, while increasing epidemic control measures.As of July 21, more than 7 million hectares of farmland in China had been destroyed by torrential rains and floods, according to data from the State Flood Control and Drought Relief Headquarters.

BEIJING, Aug. 15 (Xinhua) -- Overseas Chinese have held memorial meetings and other mourning activities recently to remember the victims of a massive mudslide in northwest China that killed at least 1,248 people.During a mourning ceremony on Sunday at a Chinese-language school in Christchurch, New Zealand, overseas Chinese nationals and students observed three minutes' silence for the victims and placed candles in the shape of a heart.Participants then made donations to the mudslide-hit areas, saying they were deeply concerned about those affected by the disaster.On the same day, some overseas Chinese and employees of Chinese companies and institutions in Serbia suspended entertainment activities voluntarily to express their condolences for the victims.In Jordan, people from various walks of life and overseas Chinese residing in the country have offered their sympathy and condolences.Overseas Chinese in Cambodia have called the Chinese embassy to express condolences, saying they are ready to donate for the reconstruction of the mudslide-hit region.The death toll from the Aug. 8 massive mudslide in Zhouqu county, northwest China's Gansu province, has risen to 1,248, with 496 still missing, local disaster relief headquarters said.China is observing a day of national mourning on Sunday, with national flags flying at half mast and all public entertainment activities suspended.