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BEIJING, Dec. 31 (Xinhua) -- On the last trading day of 2010, the Chinese currency, the yuan, strengthened to a record high for a second consecutive day, at 6.6227 per U.S. dollar, after 11 consecutive days of gains.The central parity rate of the currency, also known as the renminbi (RMB), was set two basis points stronger than Thursday's 6.6229, according to the China Foreign Exchange Trading system.China's central bank announced on June 19 it would further reform the formation mechanism of the yuan exchange rate to improve its flexibility.
BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.

BEIJING, Nov. 17 (Xinhua) -- A senior leader of the Communist Party of China (CPC) Wednesday called for the fight against corruption to be stepped up to facilitate China's social and economic development.He Guoqiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee and Secretary of the CPC's Central Commission for Discipline Inspection, made the remarks while addressing a meeting in Beijing, according to a statement given to Xinhua.Fighting corruption would help China to secure the implementation of its new five-year development program for 2011-2015 and the transformation of the country's economic growth mode, He said.He called for innovation in guidelines, ways and mechanisms to fight corruption among officials, adding intensified efforts should be made to address problems the public complained about most.He told scholars at the meeting that the role of scholars and experts in bringing messages of the masses to the attention of the authorities had been valuable in helping communication.
BEIJING, Jan. 18 (Xinhua) -- China will continue rare earth export and regulate export quotas according to World Trade Organization rules, said the Ministry of Commerce on Tuesday.China announced its first batch of 2011 rare earth export quotas at 14,446 tonnes at the end of 2010.The full-year quotas are under discussion and will be announced timely, said Yao Jian, a spokesman with the ministry, at a news briefing here.The country exported 35,000 tonnes of rare earth from January to November in 2010, up 14.5 percent from a year earlier. Exports to Japan, the European Union and the United States accounted for 86 percent of the total exports, said Yao.He said that it is normal that rare earth prices fluctuate with demand and supply and China acted responsibly last year to ensure basic demand for the minerals was met.China has noticed that other countries, such as the U.S. and Australia, have increased exploitation of rare earth in their own countries. "This will effectively safeguard the global supply," said Yao.With around 36 percent of the world's rare earth reserves, China supplies 90 percent of global demand.
BEIJING, Jan. 19 (Xinhua) -- Chinese Vice Premier Li Keqiang Wednesday urged advancing the nation's health care reforms against all odds in 2011.Li, who heads the State council's leading group on health care reforms, made the remarks while presiding over the eighth plenum of the group.The meeting discussed work agendas in 2011, plans for piloting public hospital reforms, guidelines on training General Practitioners (GP) and other topics.Li said health care reforms had made great headway since they were launched one year ago, and people had received tangible benefits from the reforms. China should press ahead, against all odds, with the reforms.Chinese Vice Premier Li Keqiang (C) speaks at the eighth plenary of the State Council's leading group on health care reforms in Beijing, capital of China, Jan. 18, 2011. Li called for advancing the country's medical reforms against all odds during the meeting held in the capital city on Tuesday. Li urged improving the health insurance system so that people with major diseases would receive better financial protection.Also, Li stressed streamlining the centralized procurement and distribution of essential medicines so that the medicine system covered most government-sponsored grass-roots health institutions.China began implementing the essential medicine system in 2009 in a bid to reduce costs for patients. Essential medicines are heavily subsidized so hospitals can sell them at their cost.Further, Li urged training grass-roots medical personnel, and staff the nation's 50,000 grass-roots medical institutions with a certain number of GPs so patients would have easier access to medical services.In the public hospital reforms, Li said priority should be given to county-level hospitals that served 900 million people. Capacity building of county-level hospitals was pivotal to improve the affordability and accessibility of medical services.
来源:资阳报