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OSLO, Jan. 13 (Xinhua) -- Jan Egeland, director of the Norwegian Institute of International Affairs, on Thursday spoke highly of China's timely assistance to a Europe struggling in deep financial crisis.In an article published on the Thursday issue of the Norwegian- language newspaper Aftenposten, Egeland said that 150 years after Britain and other Western countries forced China to accept the opium trade in Chinese cities, crisis-hit European countries are now hoping to have investment and assistance from China.Three years ago nobody would have thought that China would emerge as a contributor to the euro's survival and to save the European countries from financial bankruptcy, he said in the article."We live in a world of radical change -- 2011 is the year when we will definitely see that the economic and political center of gravity is moving eastward," the author said.Large parts of Asia, Latin America and Africa as well as the Middle East are marked by optimism, growth and investment. But in the forefront is China, which is making investments in Europe and America, the article said.It is equally sobering to click on costofwar.com to see how quickly the U.S. government spends billions in Afghanistan and Iraq as 1.1 trillion U.S. dollars have been spent on the two wars there, Egeland said.Beijing, already a major investor in Greece and in talks with Ireland, has bought nearly 50 billion of Spain's government debt, said the article. Chinese Vice Premier Li Keqiang has just concluded a visit to Spain, Germany and Britain with over 100 prominent Chinese businessmen. During this visit, he said that China will contribute to help Europe get out of the crisis, the article added."There is every reason to believe that China does not want revenge on earlier humiliation, but actually want to contribute to both the U.S. and Europe to avoid economic chaos. Lenders earn little when the borrowers go bankrupt," said Egeland.

BEIJING, Jan. 4 (Xinhua) -- A senior Chinese military official has urged soldiers and officers to learn from the older generations' self-sacrifice and hardworking spirit in completing missions and ensuring the security of the country.Guo Boxiong, Vice Chairman of China's Central Military Commission, made the remarks Tuesday at a symposium to mark the 100th birthday of Yang Dezhi, former Vice Minister of Defense and Chief of the General Staff of the People's Liberation Army (PLA).Yang, born in 1911, participated in a series of wars and made great contributions to the liberty of the Chinese people and the founding of the new China. He died in 1994 at the age of 83.Hailing Yang's loyalty to the Party and his wisdom and bravery, Guo urged soldiers and officers to carry on the firm belief in the Communist undertaking and learn from Yang's various qualities in promoting the PLA construction and ensuring the security and development of the country.Chinese Vice President Xi Jinping and some 200 relatives and friends of Yang attended the symposium.

BEIJING, Dec. 22 (Xinhua) -- Chinese auditors found 142 million yuan (21 million U.S. dollars) were wrongly paid to central government departments as reimbursements of fake invoices in June this year, and now 68.31 percent of the funds, or 97.37 million yuan, had been recovered.The remaining fake invoices, valued at 45.03 million yuan, have been transferred to supervisory organs or judicial authorities for further investigation, according to a report submitted Wednesday to the 18th session of the Standing Committee of the 11th National People's Congress (NPC), running from Dec. 20 to 25.A total of 5,170 invoices were confirmed fake among the 29,363 "problematic" invoices by 56 central departments, says the report.According to the report, China's National Audit Office (NAO) had recovered 5.34 billion yuan of funds which were found embezzled in 2009, by the end of October this year.A total of 95 officials were arrested, prosecuted, or convicted in the process, and 1,103 received disciplinary punishments, says the report.

BEIJING, Dec. 17 (Xinhua) -- Chinese Vice President Xi Jinping Friday stressed efforts to promote outstanding officials at the grassroots who had tirelessly performed official duties honestly and diligently for the people.Xi, also a Standing Committee member of the Political Bureau of the Communist Part of China (CPC) Central Committee, made the remarks while addressing a meeting of officials at CPC organization departments across the country.CPC's organization departments are responsible for work concerning the selection of party cadres.From 2011 to the first half of 2012, the current leadership of the CPC's provincial, municipal, county, and township level committees will be re-elected.Stressing the importance of the re-election, Xi said the year 2011 also marks the 90th anniversary of CPC's founding and the inaugural year for implementation of the 12th Five Year Plan, China's development blueprint covering the coming five years from 2011-2015.He urged party authorities to select and promote only those cadres who have both political integrity and professional competence.Further, Xi called for improved supervision over officials, especially those in key positions including heads of party committees or governments, chiefs of law enforcement agencies, and those in charge of personnel changes, money and materials, and other critical areas.He said he hoped that the re-election would further strengthen the leadership of the CPC in China and help contribute to the country's social and economic development in the coming five years.

BEIJING, Nov. 27 (Xinhua) -- Two years of monetary easing policies helped China's economy emerge from the global financial crisis. Now, facing a runaway inflow of hot money, fast loan growth, and escalating inflation, China could become serious about tightening regulations to achieve a "soft landing".Analysts recently said China could see more interest rate hikes in the final month of 2010 in a bid to soak up excessive liquidity and prevent a potential overheating of the economy.Further, the People's Bank of China (PBOC) Deputy Governor Hu Xiaolian said on Oct. 24 that using multiple monetary policy tools to improve liquidity management and guide the money and credit growth back to normal would be the main task for the central bank in the remainder of this year.According to data released by the central bank Friday, in October those funds outstanding for foreign exchange (FOFE) hit 525.1 billion yuan (78.37 billion U.S. dollars), the second highest monthly record in history.That is to say, PBOC issued 519 billion yuan of Renminbi in October to purchase the same amount of fresh inflow of foreign exchanges, which usually enter the nation in the form of trade surplus, foreign direct investment and short-term international speculative funds."The huge inflow of hot money is an important reason behind the sharp rise in FOFE," said Zhang Ming, a researcher with the China Academy of Social Sciences (CASS).He noted, as the European debt crisis ceased, that speculative funds have returned to the emerging markets, notably after the U.S. Federal Reserve announced the second round of its quantitative easing policy."As the massive inflow of foreign exchange increases the domestic monetary base, it has become a major impetus of a broad money supply, which could exacerbate inflation," said Liu Yuhui, also a researcher with CASS.Hefty foreign exchange inflow usually goes together with soaring inflation. China's FOFE hit a record 525.1 billion yuan in April 2008. In the same month, China's Consumer Price Index (CPI), a main gauge of inflation, was up by 8.5 percent, which was unprecedented.Also, this October, the CPI rose by 4.4 percent, the highest amount in 25 months.Boosted by a massive trade surplus, the domestic monetary situation began easing in late 2008, as China's broad money supply exceeded 70 trillion yuan, surpassing the United States to become the world's largest.Li Daokui, a member of the monetary policy committee with the PBOC, said hefty money supplies posed huge risks to the nation' s banking system and, more imminently, would exacerbate the current inflation."The interest rate increase last month sent a signal that more such increases will come in the future," he said.