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BEIJING, March 31 -- The appointment of three new academic members to the central bank's monetary policy committee on Monday reflects the increasing inclusiveness of monetary policymaking, but may not have any apparent bearing on the timing of an interest rate hike, analysts said.The People's Bank of China (PBOC) said three Chinese economists - Xia Bin, Li Daokui and Zhou Qiren - will replace Fan Gang, the only academic member of the committee, which advises on major monetary issues."Adding two more academics to the monetary policy committee is a welcome change," said Wang Tao, head of China economic research at UBS Securities. "I hope this helps to increase healthy debate within the committee, and increase the independence of monetary policy.""The appointment of three academic members this time - instead of one - indicates the increasing importance of academic voices in monetary policymaking and the three, with different backgrounds, are expected to complement each other to add to the inclusiveness of the panel," said Sun Lijian, an economist with Fudan University. It would make the country's monetary decision-making more rational, he said.Going by their recent comments on inflation, with Li saying that China could precede the United States in raising the rates and Zhou urging a timely and firm exit from stimulus policies, it is speculated that their appointment may signal chances of an earlier rate hike.Zhou said in a February speech that it was high time that China exited from the stimulus measures. "Given the past experiences, the stimulus through expanding money supply and debt only has a short-term effect," he said in the speech.One of the side effects of the stimulus is rising inflation. "The price of the stimulus policies is mainly the adverse effect of the large-scale release of money on the overall market price situation," he said. "We have seen it on the market."Li said early this month once China's consumer price index (CPI), a major measure of inflation, rises 3 percent, the country is set to increase the rates. China's CPI rose by 2.7 percent year-on-year in February.He also said on Monday that China may suffer from exported inflation from developed economies as their continued relaxed monetary policy would lead to surging raw material prices and large-scale capital flowing into the emerging economies, including China.Meanwhile, China should keep itself alert against possible price rises due to weather changes, such as the recent severe drought in southwestern regions.Xia Bin said on Monday that three factors should be taken into account when deciding on whether to raise the interest rates. It should be considered if real negative deposit interest rates occurred. But if inflationary expectations are not strong, the hike would be inappropriate. Moreover, China should not move ahead of the US since it would bring in speculative capital.China's benchmark one-year deposit rate stands at 2.25 percent.Dong Xian'an, chief macroeconomic analyst of Industrial Securities, said economic fundamentals should be the paramount determinant in interest rate related policymaking and the appointment of a new monetary policymaking panel would not have any substantial bearing on the timing of the possible hike.The month-on-month CPI figure is a crucial factor and as it continues to rise, the hike may come in the second quarter of this year, he said.

SHANGHAI, April 21 (Xinhua) -- China Eastern Airlines resumed some flights to Europe Wednesday, a week after ash from a volcanic eruption in Iceland halted air travel.China Eastern resumed services between Shanghai and some European cities including Moscow, Frankfurt and Paris.The airline had canceled 17 flights bound for London, Moscow, Frankfurt and Paris from April 15 to 20, affecting about 8,000 passengers.The carrier said it used bigger Airbus A346 and A343 models to transport as many stranded passengers as possible.German airline Lufthansa resumed flights from Shanghai to Frankfurt late Tuesday. Other European carriers, including Air France, Virgin Atlantic, KLM and Aeroflot, resumed services between Shanghai and Europe Wednesday. Finnair would resume services Thursday, the Shanghai Airport Authority said.Europe's air traffic slowly began to return to normal Tuesday with almost half of all scheduled flights taking to the skies, but officials warned it could take weeks to clear the backlog of millions of passengers stranded since the volcano erupted April 14.

BEIJING, May 21 (Xinhua) -- China's local governments should step up efforts to close 10 million kilowatts of outdated coal-fueled power station capacity this year, Chinese Vice Premier Li Keqiang said Friday.This year is crucial to completing the country's energy saving and emission reduction goals as set out in the Eleventh Five-Year Plan (from 2006 to 2010), Li said in a letter to a national work conference held in Beijing discussing the elimination of backward production capacity.Official figures show China's unit gross domestic product (GDP) energy consumption fell 14.38 percent during the first four years of the Eleventh Five-Year Plan. But efficiency has to improve if the nation is to meet the 20 percent target set for the five-year period."This move is conducive to optimizing the country's power structure, enhancing energy saving and reducing pollution," Li said.

BEIJING, June 7 (Xinhua) -- In an effort to safeguard their honor as role models in both academic research and conduct, some Chinese academicians on Monday called on the country's scientists to cut social activities and halt the practice of taking too many part-time jobs.Chen Yiyu, director of the committee for moral reconstruction under the Chinese Academy of Sciences (CAS) Academic Divisions, urged academicians to be highly alert against and pay attention to "unhealthy practices" and corrupt behaviors.In a speech delivered at a plenary meeting of the CAS, Chen voiced firm opposition to the practice of academicians' holding too many posts and accepting inappropriate rewards.Chen said academicians should not attend thesis defense, appraisal,consultant or award-giving activities which were irrelevant to their research and they should be cautious and objective when giving comments publicly.CAS academician Zheng Shiling said he also opposed to the practices of academicians' taking too many posts and attending too many social activities, which were time-consuming and would affect their research and teaching."We should firmly oppose to the practice of holding posts in areas that have nothing to do with the academicians' research and part-time jobs that reward them improper benefits,"

MANILA, June 7 (Xinhua) -- A reception was held in Manila Monday evening to mark the 35th anniversary of the establishment of diplomatic relations between China and the Philippines.Present at the reception, hosted by the Chinese embassy, were Philippine Foreign Secretary Alberto Romulo, former Philippine first lady Imelda Marcos, diplomats, Filipinos with Chinese origin and representatives of Chinese enterprises investing in the country.Addressing the reception, Chinese ambassador to the Philippines Liu Jianchao said that over the past 35 years, constructive and productive meetings on a regular basis between top leaders of the two countries have been indispensable in advancing bilateral ties with sustaining strength."I strongly believe," he said, "The essence of China- Philippines should be rooted in our peoples, in the studies we share, the business we do, the knowledge we gain, and even the sports we play.""Our purpose has always been making friends and partners with the Philippines and all the other countries in the region, fostering an amicable, stable and prosperous neighborhood, and building cooperation for mutual benefit and win-win progress," he added."As we are expecting the Philippine top leadership to be proclaimed, we know that China-Philippines relations are facing a new historical opportunity. The common interests between China and the Philippines are large, so is the scope of China-Philippines cooperation. The Chinese side looks forward to working with the incoming Philippine administration to ensure that China- Philippines strategic and cooperative relationship gets off to a good start and continues to forge ahead," he said.Philippine Foreign Secretary Romulo said that the theme for this year's anniversary is "Philippines plus China, more than friends". This theme highlights three distinct features of bilateral relationship: the deep ties of friendship between the two peoples; the multifaceted and expanding bilateral relations; and the role of youth in this relationship."We are proud that many prominent Filipinos are of Chinese ancestry. Foremost among them, of course, is our national hero, Dr. Jose Rizal, our first woman President Corazon C. Aquino, and our first Filipino saint, Lorenzo Ruiz," he said.Aside from these prominent Filipinos, members of the Chinese- Filipino community have made and continue to make significant contributions to Philippine society, he added.China and the Philippines established diplomatic relations on June 9, 1975.

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