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DUNHUA, Jilin, Aug. 7 (Xinhua) -- When a flash flood struck their village ten days ago, 55-year-old Fu Bailin and his relatives had no time to take any belongings as they fled, except for a bill of debt."All our belongings have been swept away. My 100-square-meter house was flattened. My 2.5-hectares of cropland was destroyed," said Fu, a soybean and corn farmer at the Yaodianzi Village in Dunhua City, Yanbian Korean Autonomous Prefecture in northeast China's Jilin Province.All the houses of the 286 families in the village were destroyed. Fu's family, including Fu, his 70-year-old father, his wife and son, along with their fellow villagers, now live in temporary tents in the local forest police headquarters in Dunhua. The forest police also provide meals for them.Floods have left 85 people dead and 66 missing in Jilin 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.Economic losses were estimated at 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.Compounding the problems, more downpours were forecast to hit the province in the coming two days.

BEIJING,Aug 17(Xinhuanet) -- China reduced its holdings of U.S. Treasury debt for a second straight month in June while the holdings of Japan and Britain rose.China's holdings fell by billion to 3.7 billion, a decline of 2.7 percent, the Treasury Department said Monday in a monthly report on debt holdings.Total foreign holdings of Treasury securities rose .6 billion to a total of trillion, an increase of 1.2 percent.The debt figures are being closely watched at a time when the US government is running up record annual deficits. A drop in foreign demand would lead to higher interest rates in the United States. The yield on Treasuries rises when fewer people invest in them.It would start with the US government paying more interest on its .3 trillion national debt and then ripple through the economy. Consumer loans such as home mortgages and auto loans track the yields on Treasurys, so they could rise, too.So far, interest rates in the United States have remained extremely low. A weak economy has depressed borrowing by the private sector and the Federal Reserve has kept a key interest rate at a record low level of zero to 0.25 percent in an effort to spur stronger growth.US interest rates have also been kept low by the European debt crisis in the spring. That triggered more investment in US Treasurys, which are considered the safest investment in the world because the US government has never defaulted on its obligations.China is the largest foreign holder of Treasury securities. The billion decline in China's holdings in June followed a .5 billion drop in May. China's holdings had hit a high for this year of 0.2 billion in April.There are concerns that China could influence US interest rates by rapidly selling off its holdings of US debt. That could lead others to dump their holdings and result in a spike in interest rates.But analysts say China is more likely to sell a little bit at a time."While it would hurt the United States if China started selling off our securities, it would hurt China just as badly because it would drive down the value of their holdings," said David Wyss, chief economist at Standard & Poor's in New York.Wyss predicted that China will slow its acquisition of new US government debt while diversifying its holdings. Wyss said that process has already begun, noting China's recent acquisition of energy and other natural resource holdings in Latin America and Africa.Japan, the second largest foreign owner of Treasury bonds, increased its holdings in June to 3.6 billion. That's an increase of .9 billion or 2.5 percent. Britain's holdings rose 3.5 percent to 2.2 billion.Japan had for years been the No 1 holder of Treasury securities, but was overtaken by China in September 2008.New government data showed that Japan lost its place as the world's second largest economy in the second quarter of this year. China moved up from No 3 to the No 2 spot, behind the United States.While the data on total economic output was for the second quarter, analysts believe China is on track to surpass Japan for the entire year and become the world's second largest economy.The US Treasury report said that net purchases of long-term securities, a category that covers not only US government debt but also debt of US companies, increased by .4 billion in June after rising .3 billion in May.

BEIJING, Aug. 6 (Xinhua) - China's Ministry of Agriculture Friday urged local authorities in flood-hit regions to step up efforts to resume agricultural production and create favorable conditions for the autumn harvest following this summer's severe floods.Local departments were ordered to accelerate water drainage, restore damaged infrastructures, strengthen field management, and plant mung bean, potatoes and buckwheat, which have short growth periods, to make up for losses, according to an official from the ministry.The official also required departments to clear away and carry out bio-safety disposal of dead livestock, while increasing epidemic control measures.As of July 21, more than 7 million hectares of farmland in China had been destroyed by torrential rains and floods, according to data from the State Flood Control and Drought Relief Headquarters.

MOSCOW, June 21 (Xinhua) -- China has played a role of great importance during the founding and development of G20, Russian presidential aide Arkady Dvorkovich said on Monday."Without China's participation, it would be much more difficult for the group to discuss or solve the developmental problems of world economy. Therefore, the participation of China, as well as some other emerging economies like Brazil and India, has become prominently significant," Dvorkovich commented after a news conference ahead of the upcoming G8 and G20 summit in Toronto, Canada.The presidential aide said the Chinese leaders' stance and viewpoints, proposed in the previous three G20 financial summit since November 2008, have helped stabilize the world economy as a whole.Dvorkovich noted that China's decision on further exchange rate reform was not outcome of external pressure.He said that any country, including Russia, China and the United States, could not allow their domestic policies to be ruled by external factors. The nations, however, should understand the common and mutual responsibilities in the global economic system.The delegates to the G20 summit will adjust their polices after consultations, but nobody will bend under pressure, he stressed.Dvorkovich said that several countries may voice concerns over China's exchange rate policies at the summits, but there will not be large-scale discussions over the Chinese currency.The People's Bank of China, China's central bank, announced on Saturday a decision to proceed further with the reform of the exchange rate regime to enhance the flexibility of the RMB's exchange rate.

CHANGSHA, Aug. 2 (Xinhua) -- Ten people have been confirmed dead after two manganese mines in central China's Hunan Province were flooded two weeks ago, local authorities said Monday.Water gushed into the two mine pits run by Leixin Mining Development Co. and Wenhua Manganese Co. in Huayuan County of Xiangxi Tujia-Miao Autonomous Prefecture at about 6:10 p.m. on July 20, trapping a total of 13 miners underground.Rescuers pulled three miners alive out of the mines on July 29 and sent them to hospital. Currently, they are in stable condition, a spokesman with the Hunan Provincial Work Safety Administration said Monday.Rescuers had earlier retrieved seven bodies, and they found the last three bodies on Sunday morning, the spokesman said.Local authorities are further investigating the cause of the accident, he added.