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WASHINGTON, June 19 (Xinhua) -- The International Monetary Fund's chief Dominique Strauss-Kahn on Saturday welcomed China's decision to further reform its exchange rate mechanism and said that the move will benefit Chinese consumers.China's announcement is "a very welcomed development," Strauss-Kahn said in a statement.The move "will help increase Chinese household income and provide the incentives necessary to reorient investment toward industries that serve the Chinese consumer," he said.The People's Bank of China, China's central bank, earlier on Saturday announced a decision to proceed further with the reform of the exchange rate regime to enhance the flexibility of the RMB's exchange rate.

CHANGCHUN, Aug. 7 (Xinhua) -- Floods have left 85 people dead and 66 missing in northeast China's Jilin Province 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.Soldiers pack stones to reinforce a bank in Yongji County, northeast China's Jilin Province, Aug. 4, 2010. Floods hit dozens of counties in Jilin, causing more than 300,000 houses collaped and over 70 people died since this July.Direct economic losses were estimated at more than 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.

BEIJING, July 12 (Xinhua) -- Thousands of Chinese have joined a heated discussion about new rules that are designed to curb corruption and increase transparency about the assets of government officials.A regulation that took effect Sunday extends the list declarable assets for officials and introduces dismissal as the maximum penalty for failing to report assets honestly and promptly.The regulation adds six more items to the list of declarable assets issued in 2006, bringing the total to 14. The new items include incomes from sources like lecturing, painting and calligraphy; homes owned by spouses and children; and equities and investments owned by officials, their spouses and children.A FIRM STEPThe new rules have struck a public chord and almost 50,000 people had left comments on China's two biggest Internet portal websites on Monday. Thousands more were joining the discussion on other news sites and discussion forums.More than 36,500 people had made online comments on a news entry about the regulation on leading portal Sohu.com as of 1:30 p.m., and more than 11,000 comments on an entry at Sina.com.cn.Most of the published postings welcomed the new rules, but some said they should go further."The fight against corruption has a long way to go, but I am really glad to see each firm step taken by the central authorities," said a posting from Shanghai on Sina."We want to see more detailed provisions and harsher punishments in the rule," said a post by "Shihuiwen 197" on Sohu.The regulation was issued by the General Office of China's State Council and the General Office of the Communist Party of China (CPC) Central Committee.It requires officials at deputy county chief level and above to annually report their assets, marital status and whereabouts and employment of family members.It also empowers local provincial level CPC committees and governments to expand the regulations to officials below deputy county chief level.A CPC statement said Monday that most village or town chief level officials are prone to power-for-money transactions and corrupt actions as they are dealing with practical issues involving personnel, finance and materials.But as there are a large number of them, requiring all of them to report personal information will require much work and high costs, said the statement jointly issued by the CPC Central Commission for Discipline Inspection (CCDI) and the CPC Central Committee's Organization Department.So the central authority left the decision to local governments to decide based upon their own conditions, it said.New requirements for officials to report homes and investments reflected the need to change disciplinary structures in line with changing social and economic values, said Professor Liu Chun, deputy dean of the Graduate Institute of the Party School of the CPC Central Committee.

BEIJING, July 15 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 2.9 percent year on year in June, the National Bureau of Statistics (NBS) announced here Thursday.The figure stood at 2.6 percent in the first half of this year compared with the same period last year, according to the NBS.  A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.