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BEIJING, March 10 (Xinhua) - A senior Chinese lawmaker said on Wednesday that legislation requiring public officials to declare their personal assets is under consideration and seen as a move to prevent corruption and improve government transparency."We are researching the issue, since the legislation requires mature consideration of all conditions," said Li Fei, deputy director of the Legislative Affairs Committee of the National People' s Congress (NPC) Standing Committee.Li noted that the legislation should be assisted by the establishment of the personal credit system, which details individuals' financial information even if assets are not declared.Premier Wen Jiabao said on March 5 that high priority should be given to fighting corruption and encouraging integrity among public officials.Leading cadres at all levels, especially high-ranking ones, must resolutely implement the central leadership's regulations on reporting their personal financial situations and property, including incomes, housing and investments, as well as the jobs held by their spouses and children, Wen said.

BEIJING, Jan. 12 (Xinhua) -- China was flexing its muscles to fight corruption which was still an "persistent, complicated and arduous" task, said an expert as the internal anti-graft body of the Communist Party of China (CPC) convened its three-day plenary session.     President Hu Jintao told the meeting of the CPC Central Commission for Discipline Inspection (CCDI) that the Party should "fully recognize the situation of the fight against corruption," which was "persistent, complicated and arduous."     Last year, at least 15 ministerial or provincial level officials, including heads of State-owned enterprises (SOE), were investigated for corruption, nine of whom were referred for prosecution, the CCDI said.     Among them were former Supreme People's Court Vice President Huang Songyou, who was the first supreme court justice in China removed for grave violations of the law and the Party discipline.     "The graft fight and the promotion of a clean and honest work among Party cadres has a great bearing on the Party's survival," Prof. Huang Zongliang of Beijing University told Xinhua.     Huang said despite the arrests of many high-ranking officials, the graft situation did not "show any sign of relaxation," citing the 2009 corruption index of the Transparency International, a Berlin-based non-government organization.     Among the annual ranking of the world's countries and regions of 180, China ranked 72nd. Countries and regions towards the end of the list means more corrupt.     Huang said China's ranking was low and there was little progress compared with that of previous years.     ASSET REPORTING SYSTEM IN THE PIPELINE     He said to build a system of officials' asset reporting was an effective way to prevent corruption.     The communique of the last CCDI plenary session in September said officials should "report their properties and investment as well as employment of their spouse and children," and authorities should enhance management of officials who had family members living overseas.     Such requirement was in response to several cases of corrupt officials who fled the country with huge amount of public funds.     Huang said the public applauded the move to set up an officials' assets declaration system, as it signaled the Party's effort in pushing for transparency.     Currently, the program has been tested in several regions, including eastern Zhejiang and Shanghai and far western Xinjiang.     At the CCDI's plenary session Tuesday, Hu, also general secretary of the CPC Central Committee, said supervision and monitoring should be enhanced to form an effective corruption prevention system.     Vice Minister of Supervision Qu Wanxiang also pledged last week to tighten supervision on the SOEs and fight corruption among their executives.     At least 35 senior executives of China's large SOEs faced corruption charges last year, said a report by Faren Magazine, affiliated to the Legal Daily and overseen by the Ministry of Justice.     Among them was Kang Rixin, general manager of the China National Nuclear Corporation (CNNC), who has been under investigation for alleged grave violations of Party discipline since August.     Another prominent case involved Chen Tonghai, former chairman of China's state-run oil refiner Sinopec, who was found to have taken almost 200 million yuan (29.4 million U.S. dollars) in bribes and given a death sentence with a two-year reprieve in July.     Latest statistics show more than 106,000 officials in China were penalized for disciplinary violations from January to November last year.     President Hu vowed that no corrupt official would be above the law and Party discipline.

WASHINGTON, Feb. 27 (Xinhua) -- China remains the largest foreign holder of U.S. Treasury securities as at the end of December, the U.S. media reported on Saturday.The report quoted the new government data as saying that China held 894.8 billion dollars in Treasury securities at the end of December, more than 755 billion dollars that had been previously estimated.But the new report also showed China trimmed its holdings of U. S. debt by 34.2 billion U.S. dollars in December.The U.S. Treasury reported on Feb. 16 that Japan surpassed China as the largest holder of U.S. Treasury securities in December. But the new estimate said Japan, now back in second place, held 765.7 billion dollars in December.Japan had been the largest holder of U.S. Treasury securities until China gained that distinction in 2008."Purchase of Treasuries by China would reflect only purchases by an entity in China from an entity based in the U.S.," Stone & McCarthy Research Associates said in a recent client note."The Data would not pick up purchases done on behalf of Chinese investors by dealers in the U.K or Hong Kong, for example, nor would it pick up purchases of Treasuries by investors in China from investors based outside of the U.S.," it added.China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar .Last week, when responding to questions on China's sale of U.S. Treasury securities in December, China's Foreign Ministry spokesman Qin Gang said the issue should be viewed from two perspectives.He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the U.S. dollar, Qin said.The way to view the issue was similar to doing business, he said.

URUMQI, March 2 (Xinhua) -- Senior Chinese leader Zhou Yongkang has revealed that the government is preparing measures to boost the economic and social development of the northwestern Xinjiang Uygur Autonomous Region.Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during a four-day inspection to the region that ended on Sunday.Zhou mingled with local cadres, teachers and residents when visiting Kashi Prefecture, Urumqi, the regional capital, and Shihezi City. He stressed the issues of housing, education and employment should be appropriately resolved to ensure social harmony. Zhou Yongkang (R Front), a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, chats with residents in Kashi, northwest China's Xinjiang Uygur Autonomous Region, Feb. 25, 2010. Zhou made an inspection tour in Xinjiang on Feb. 25-28.He told two separate symposiums in Kashi and Urumqi that the CPC Central Committee would hold a meeting in the first half of this year, at which major decisions would be made to boost Xinjiang's development and enhance its stability.Zhou said development should benefit people of all ethnic groups in the region.

NANJING, Feb. 9 (Xinhua)-- China and Japan have the opportunity to further develop their relationship through cooperation in a wide range of areas, an advisory panel on China-Japan relations said here Tuesday."Bilateral ties have an opportunity to develop as the two governments attach great importance to bilateral ties and are committed to long-term, stable, friendly, and cooperative relations," the fifth 21st Century Committee for China-Japan Friendship said after their first meeting.The committee, an advisory panel to both nations' governments, convened a three-day meeting in China beginning Sunday to discuss various aspects of China-Japan relations and to provide suggestions to the two governments."Members have discussed bilateral cooperation from a strategic point of view and have reached a fruitful outcome," the Chinese chair of the panel, Tang Jiaxuan, said.The committee agreed China and Japan should aim for cooperation in the post-financial crisis world and step up partnership in environmental protection and low-carbon business. Chinese members proposed building a recycling economic zone in Caofeidian, in north China's Hebei province.Telecommunications, bio-medicine, new materials and clean-fuel vehicles are also fields in which the two sides can work together.Another field for cooperation is culture, the panel said, stressing the importance of exchanges between media professionals and intellectuals in the two countries.Chinese members hoped visa procedures to enter Japan will be further simplified, young writers will have more opportunity for exchange, and that an arts festival on Buddhism is established.The committee suggested cooperation in Asian integration, including the building of a financial security network and speeding up research on the setting up of a free trade zone covering China, Japan, and the Republic of Korea."Japan is willing to work with China to strengthen mutual cooperation in various fields and improve understanding between peoples of the two countries," said chair of the Japanese side, Tokyo Stock Exchange (TSE) president Taizo Nishimuro