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BEIJING, Jan. 7 (Xinhua) -- Chinese President Hu Jintao will pay a state visit to the United States from Jan. 18 to 21 at the invitation of U.S. President Barack Obama, Foreign Ministry spokesman Hong Lei announced Friday.
BEIJING, Dec. 28 (Xinhua) -- Chinese Minister of National Defense said on Tuesday it had reduced the country's military reserves forces from 600,000 to 510,000 men and women over the past five years.China has also reduced the number of people in its militias from 10 million to eight million during the same period, said Gen. Liang Guanglie in an interview with Xinhua.It is the first time the Chinese government has given the exact number of people in the reserve forces and militias. In times of emergencies, the reserve forces and militias can be ordered to assist China's 2.3-million regular troops, the People's Liberation Army (PLA).Although China has experienced around 30 years of peace, Gen. Liang said the PLA has never relaxed its military preparations and vigilance especially at a time when "regional military conflicts can not be ruled out."In times of peace, the PLA's reserves conduct regular military training and participate in non-combat military operations, such as disaster relief work.The minister said the PLA had pushed forward military reforms in the past five years to build a more powerful military with upgraded weapon systems and high-quality personnel.Currently, 80 percent of the PLA's officers have four years of higher education compared with 25.8 percent in 1998, Gen. Liang said.To improve the quality of military personnel, the Chinese government has encouraged university graduates to join the armed forces since 2009. More than 100,000 college graduates gained their uniforms in 2010.In the past five years, China has dispatched more than 13,000 United Nations-commissioned peacekeepers to carry out 13 U.N. missions around the world, according to Liang.The PLA also sent professional units to Haiti, Pakistan and other countries and regions for disaster relief efforts and to give medical aids and other humanitarian relief, he said.
BEIJING, Dec. 25 (Xinhua) -- China 's central bank announced Saturday that it will raise the one-year lending and deposit interest rate for the second time this year, as the government continues its battle against surging prices.The People's Bank of China (PBOC) said in a statement posted on its website that it will hike the benchmark interest rate by 25 basis points beginning Sunday, which raised the one-year lending rate to 5.81 percent and one-year deposit rate to 2.75 percent.The PBOC increased the benchmark lending and deposit rates by 25 basis points on Oct. 20, which was the first increase in nearly three years.The rate hike came after the central bank vice governor, Hu Xiaolian, said Friday that China would bring its overall money supply to a normal level using various policy tools, as the government shifts monetary policy from "moderately loose" to "prudent" to rein in rising inflationary pressures and curb asset bubbles.Photo taken on Nov. 18, 2010 shows a teller counting the Renminbi at a bank in Qionghai City, south China's Hainan Province. China's central bank will raise the one-year lending and deposit interests rate by 25 basis points from Dec. 26, 2010, according to a statement posted on the website of the People's Bank of China Saturday.The country's consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high in November of 5.1 percent, while new loans reached 7.45 trillion yuan in the first 11 months of this year, compared to the government's full-year target of 7.5 trillion yuan.A recent PBOC survey also showed that the proportion of Chinese citizens satisfied with the current price level had sunk to an 11-year low, and only 17.3 percent of the consumers said they intended to consume more in the future.Rising prices have prompted the government to take measures to rein in the hikes, including boosting supplies and providing financial aid to the needy.Li Daokui, a member of the monetary policy committee with the PBOC, said the rate hike mainly aimed at managing inflationary expectations and reflected the policy shift, as tightening the money supply is the best way to curb inflation.The rate increase came "at the right time", as western countries are celebrating the Christmas holiday, to avoid overreaction from the global markets, Li added.Besides interest rate hikes, China had increased the bank reserve requirement ratio six times in 2010 to 18.5 percent and 19 percent for some large commercial banks."The decision was made in consideration of China's economic condition next year," said Lian Ping, chief economist with the Bank of Communications, the country's fifth largest lender, who described fighting inflation as the central bank's primary task at present.Lian expected inflation to continue to go up in the first quarter next year due to rises both in demand and cost, as well as other influences from the external market.His views were echoed by Zhuang Jian, chief economist with the Asian Development Bank, who also attributed rising inflation to holiday seasons and the extreme winter weather.Observers believe that further rate hikes are to be expected since solving inflation and liquidity pressure at the same time is considered a difficult task."You cannot expect one or two rate rises to have a significant impact on economic indicators," said Zuo Xiaolei, chief economist with Galaxy Securities.However, Lian said China only has room for two or three rate hikes, as higher interest rates would increase risks of "hot money" inflows due to a widening interest margin between China and the United States, which is likely to keep rates low.Li Daokui also attributed the timing of the rate increase to avoiding rapid capital inflows.But currently the factors that decides the direction of capital flows are currency exchange rates and assets prices, Lian added.UBS Securities economist Wang Tao said last month that she expected the central bank to raise the interest rate by 25 basis points before the end of the year and by another 75 basis points in 2011.China's economy grew 9.6 percent year on year in the third quarter this year, slowing from the 10.3 percent increase in the second quarter and 11.9 percent in the first quarter.The country targets about a 3 percent inflation rate in 2010.
GUIYANG, Dec. 5 (Xinhua) -- At least six people were killed and 34 others injured in an explosion that ripped through an Internet cafe in southwest China's Guizhou Province Saturday night, according to local police.The explosion occurred at around 10:30 p.m. in an Internet cafe in the downtown area of the Kaili City of Miao-Dong Autonomous Prefecture of Qiandongnan, said Guizhou's provincial public security department.Victims have been pulled out of the debris and the injured rushed to hospitals, said the department.Rescue workers at the scene said the powerful blast had turned the cafe into "complete ruins" and also destroyed windows of nearby residential buildings.The police are investigating the cause of the explosion and search and rescue work is still underway.
BEIJING, Dec. 22, (Xinhua) -- China has rejected the Vatican's criticism of a recent national congress of Chinese Catholics, blaming the Vatican for damaging relations between the two sides.A spokesperson for the State Administration for Religious Affairs (SARA) said Wednesday the Vatican's criticism was very imprudent and ungrounded.In a statement dated Dec. 17, the Vatican condemned the congress, which elected the new leadership of China's Catholic church, and accused China of violating religious freedom.The congress from Dec. 7 to 9 elected the heads and other senior members of the Chinese Catholic Patriotic Association (CCPA) and the Bishops' Conference of the Catholic Church in China (BCCCC).The spokesperson said the congress, which is held every five years to amend the CCPA's and BCCCC's constitutions, elect a new leadership and set future agenda, does not deal with Catholic doctrines or violate the fundamental Catholic faith, and "there is no question of getting recognition by any foreign organization or state."The spokesperson said China's religious freedom was protected by the Chinese Constitution, and it was a misinterpretation by the Vatican to declare the incompatibility of Catholic doctrine and the Chinese Catholic church's principle of independent self-governance.China's Constitution grants Chinese citizens freedom of religious beliefs, but requires independence of religious organizations and affairs in China from foreign influence.Under this constitutional provision, the Catholic church and other religions in China adhered to the principle of self-governance and self-support, the spokesperson said.The CCPA and the BCCCC endorsed this principle in their new constitutions adopted at the congress, according to the spokesperson."The BCCCC fulfills her Pastoral Mission at the Faith and Evangelization according to the power and authority of our Lord Jesus Christ and the Holy Spirit endowed upon His Disciples," said the BCCCC's constitution.On the dogma and moral teachings of the Church, the constitution said the BCCCC is "in union with the Successor of St. Peter, the Head of the community of the Disciples.""Has the Vatican not read the two constitutions? Or is it obscuring the boundary between faith and politics on purpose?" the spokesperson said in response to Vatican's declaration of the incompatibility of the constitutions with Catholic doctrine.