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BEIJING, Nov. 27 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Saturday discussed the latest situation on the Korean Peninsula in phone calls with Russian counterpart Sergei Lavrov and Japanese foreign minister Seiji Maehara.The discussions follow an artillery exchange between South Korea and the Democratic People's Republic of Korea (DPRK) in waters off the west coast of the divided peninsula on Tuesday.During the conversations, Yang said safeguarding peace and stability on the Korean Peninsula served the common interests of concerned parties.Those parties should call on the DPRK and South Korea to exercise calmness and restraint and hold dialogue and make contacts, and not to take actions that would escalate the conflict, he said.He said all parties should work together to help cool the situation as soon as possible and effectively ensure no repeat of such conflict.Meanwhile, the Chinese minister expressed the hope that concerned parties would take a reasonable and pragmatic approach to actively create favorable conditions for resuming the six-party talks.The parties should also commit themselves to establish related mechanisms at an early date to eliminate various factors threatening peace and stability on the Korean Peninsula and in the whole region.Lavrov said Russia agreed with China on the latest situation and was ready to keep close contact with China to help defuse the tensions on the peninsula and create conditions for a restart of the six-party talks.Maehara said that Japan is willing to work together with China to jointly safeguard peace and stability on the Korean Peninsula and push forward the denuclearization process of the Peninsula.During Tuesday's incident, shells landed on South Korea's Yeonpyeong Island near the contentious sea border called Northern Limit Line (NLL). The clash left four South Koreans dead, while damages to the DPRK have yet to be verified.
BEIJING, Nov. 8 (Xinhua) -- China has moved to speed up the building of a clean government ruled by law, part of the country's efforts to further enhance the government's credibility and maintain a harmonious social order for its rapid economic development.The Legislative Affairs Office of the State Council, or China' s cabinet, issued guidelines on Monday focusing on creating a government ruled by law, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means and invites the public to contribute to legislation.According to a statement issued along with the guidelines, the State Council said it was "important" and "imperative" to build a government ruled by law, as China now faces challenges, including imbalanced development of rural and urban areas, a widening income gap, an increased numbers of "social conflicts" , as well as corruption and injustice in law enforcement in some sectors.An official with the Legislative Affairs Office said Monday that the guidelines will further safeguard public interests and maintain social and economic order by requiring stepped-up efforts from authorities to investigate and punish cases that run counter to the country' s mandate for the safe production and issues related to food safety, the protection of natural resources and the environment, as well as public security.The guidelines, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means, also stipulates that if officials perform their duties according to the law or are skillful at solving disputes by legal means, they will more likely be promoted.However, government officials will be held liable for malfeasance or failure to fulfil their duty in major accidents or cases that have seriously violated laws.Further, the guidelines stress the importance of public participation in legislation, saying people's opinions, reasonable needs and legitimate interests should all be considered in lawmaking.Additionally, the guidelines state that the legislative process shall not be influenced to favor the interests of a certain sector or protect local interests.Also, to facilitate the creation of a clean and transparent government, the guidelines require all government information, aside from that involved in state, commercial or private secrets, to be open to the public.Government departments are also required to reply to pubic requests on the release of government information within a certain period of time and improve the ways of handling government affairs, according to the guidelines.

BEIJING, Dec. 17 (Xinhua) -- China on Friday responded to Japan's new defense guidelines, saying China had no intention of threatening anybody.Foreign Ministry spokesperson Jiang Yu made the remarks when responding to a question on the subject."A certain country has no right to act as a representative of the international community and make irresponsible remarks on China's development," she said.Japan adopted the National Defence Programme Guidelines Friday. Media reports said the guidelines claimed China's military development and lack of transparency were matters of concern to the region and international community, and urged nations to encourage China to act responsibly.China unswervingly follows the path of peaceful development, and its defense policy is defensive in nature, Jiang said, adding that China poses no threat to anybody."The fact is that China's development since its reform and opening up, has brought huge opportunities of common prosperity to the world, including Japan," Jiang said.
BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.
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.
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