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BEIJING, Nov. 3 (Xinhua) -- China's banking regulator on Tuesday said the banking industry, pillar of the nation's financial system, has an important role to play in transforming the country's economic growth pattern as it highlighted four areas in boosting the process.Jiang Dingzhi, vice chairman of the China Banking Regulatory Commission, on Tuesday urged more efforts be made by the nation's banking sector in expanding consumption-related loans amid the government calling to boost domestic consumption.More channels should be opened to meet the varied consumption needs from residents as financial support should lean on the construction of affordable housing. Loans to property developers who make small and medium-sized homes at medium and low prices should be met, but be restricted to them for speculative purposes, Jiang said.Also, the structure of bank credit should be further optimized in line with the restructuring of the nation's economy, Jiang said at an industrial forum held here Tuesday.This could mean polluting and energy-intensive companies may face more difficulties in obtaining loans from banks.Meanwhile, Jiang urged banks to improve their financial services in the rural areas in China as part of the coordinated development between the rural and urban areas.Further, Jiang said banks should work to improve the availability of financial support for small-sized companies and low-income residents.Jiang said total outstanding bank loans to small-sized companies stood at 7.1 trillion yuan (1.1 trillion U.S. dollars) by the end of September, an increase of 22.3 percent, or 1.3 trillion yuan, compared to the beginning of the year.The growth rate was higher than the average 14.5 percent increase of new loans for all companies during the period, Jiang said.

BEIJING, Oct. 13 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Wednesday as the central parity rate of the yuan was set at 6.6693 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Wednesday's central parity rate beat the previous record of 6.6732 on Oct. 11.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Wednesday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.32 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.294 Wednesday, lower from 9.2574 on Oct. 12, the previous trading day.The yuan's rate against 100 yen was 8.1477 Wednesday, compared with 8.124 on Tuesday.

XIAMEN, Sept. 7 (Xinhua) -- China will continue to attract large influxes of foreign investment in the next few years despite uncertainties in the global economic recovery, Commerce Minister Chen Deming said Tuesday.Although uncertainties lie in the process of the global economic recovery and the development trend of the world economy would, to some extent, affect foreign investment in China, the next few years will still be a high-tide period for foreign investment inflow into the country, Chen said Tuesday at a ministerial conference at the 2nd World Investment Forum (WIF) in Xiamen City in southeast China's Fujian Province."Currently, many countries and organizations have rated China as the most appealing destination for investment, which probably would not be changed for a few years," said the minister.Foreign direct investment (FDI) this year is set to "surpass 100 billion U.S. dollars," compared to 90 billion dollars last year, an official with the ministry predicted on Sunday.During the first seven months of this year, China's FDI increased 20.65 percent year on year to 58.35 billion dollars, according to the ministry' s latest statistics.Meanwhile, some 14,459 foreign-invested companies were established in China in the first seven months, up 17.9 percent year on year.

BEIJING, Nov. 1 (Xinhua) -- China launched an association on Monday to evaluate the quality of the nation's higher education."The association, as a non-government organization, is designed to evaluate and supervise the quality of higher education," said Lin Huiqing, an official with the Ministry of Education, at the launching ceremony held in Beijing.The association is composed of over 200 educational institutions as members, including the Higher Education Evaluation Center of the Ministry of Education, Shanghai Educational Evaluation Institute, Peking University, Beijing Normal University, and others.China's higher education has been blamed for a decline in quality since 1999 when the government started to expand college enrollment."Therefore, we should establish a nation-wide network to evaluate the teaching methods, development of each discipline and curriculum designs of each school," Lin said.According to Ji Ping, a senior official in charge of the evaluation of educational quality with the Ministry of Education, China started to implement higher education quality evaluations in the 1980s, and decided to carry out evaluation once every five years since 2003."It is time for us to start a new round of higher education evaluations," Ji said, noting that the priority of China's higher education is to improve its quality."We have required the local schools to make regular evaluations themselves, and invite experts to carry out independent assessments," Ji said.

SHANGHAI, Oct. 24 (Xinhua) -- The number of visitors to the Shanghai World Expo 2010 topped 70 million Sunday, meeting organizers' expectations, according to an announcement on the official Expo website.Total visitor arrivals broke the 70 million mark as of 10:17 a.m. Sunday and by 1:30 p.m. some 572,900 visitors had entered the Expo Park on Sunday, the 177th day since the event started, bringing the total number of visitors to 70.28 million."The news is exciting and it's also encouraging for the organizers," said an official with the Bureau of the Shanghai World Expo Coordination.During the eight years since China successfully won the bid to host the 2010 Expo, Vicente Loscertales, Secretary-General of the International Exposition Bureau (BIE), has been asked again and again what's the value of the World Expo when people can get so much information about countries and trade from the Internet.The Shanghai Expo, the first such global event hosted by a developing country in the history of the World Expo, shows to the world that such an event is still relevant, as the huge number of visitors illustrate."You have achieved new records: a record number of participants, a record number of visitors, and you have built the largest site ever," said Loscertales on Oct. 1."I thought Canada was pretty amazing. Not to mention Italy and France, and you just have to go to Thailand!" "How far is it from Morocco to Monaco exactly?" ... this kind of conversation can be frequently heard at the Expo site.People wait in long queues outside the different pavilions, sometimes for 12 hours, to taste a little bit of the world.Mei Haixing, 59, a retired teacher in Shanghai, has so far visited the Expo 28 times.He has written a 400-page diary including pictures, souvenirs and signatures from the different pavilion curators."The Expo is like a huge museum of the different cultures of the world," he said.Sheng Banghe, sociologist with the Shanghai University of Finance and Economics, said what the Chinese are pursuing is no longer at the material level, but the spiritual."They are not satisfied with their current knowledge and entertainment," said Sheng.Many migrant workers have also visited the Expo.Liu Huafeng, a construction worker in Shanghai from central China's Henan Province said he only found out how wonderful urban life could be after visiting the Expo.Although there is still a long way to go to realize migrant workers like Liu's dream of having a better life in cities, the government has already started to think about the problems of urbanization and is trying to find solutions to them.The Shanghai Expo has enjoyed participants from 246 countries and international organizations. It also set a record for the maximum attendance on a single day on Oct. 16 with 1.03 million people visiting it then.Loscertales said the overwhelming success of Shanghai Expo 2010 will inspire future hosts of the event.Already some countries have showed willingness to host the 2020 World Expo, including Thailand.During the last week of the Expo from Oct. 25 to 31 daily visitor numbers will be limited to 400,000 to 500,000, said Huang Jianzhi, deputy director general of the Bureau of Shanghai World Expo Coordination on Oct. 16.Organizers promised to continue to improve their service to visitors until the last day, and make it a "successful, splendid and unforgettable" Expo.