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YUSHU, Qinghai, July 23 (Xinhua) -- The Gross Domestic Product (GDP) of the quake zones in China's far northwestern Qinghai Province would be quadrupled by 2015 on the basis of that of last year, Luo Huining, governor of the province said here Friday."By the end of China's 12th Five-Year Plan (2011-2015), the GDP in Qinghai quake zones would reach four times as much as that of 2009, with the service industry accounting for 45 percent of it," Luo said during an exclusive interview with Xinhua, exactly 100 days after a 7.1-magnitude earthquake struck Yushu in April.The earthquake left 2,698 people dead and 270 missing.Luo said local authorities would focus on improving public services and promoting urbanization of the quake zones during the reconstruction phase.According to Luo, authorities would try to help all farmers and herdsmen in the region settle down within three years, upgrade their housing facilities, and provide them with basic access to safe drinking water."By the end of this year, local government would invest 5.55 billion yuan to rebuild 80 percent of farmers' houses in the quake zones," Luo said. Total investment in housing reconstruction in the regions would reach 9.6 billion yuan within three years.
BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.

BEIJING, July 5 (Xinhua) -- Donations to the Yushu quake zone in northwest China's Qinghai Province have exceeded 8.7 billion yuan (about 1.28 billion U.S. dollars) as of Monday noon, with about 7.9 billion yuan in cash and the remaining in relief materials, according to the Ministry of Civil Affairs.In a statement, the ministry said it had received 2.417 billion yuan and the Qinghai provincial government received over 2 billion yuan in donations, while the Red Cross Society of China and the China Charity Federation had each raised about 2 billion yuan.Nearly 2,700 people died after the 7.1-magnitude earthquake hit Qinghai's Yushu prefecture on April 14.
SHANGHAI, June 24 (Xinhua) -- Chinese Vice Premier Li Keqiang called for more efforts to accelerate China's urbanization Thursday, as part of the government's efforts to promote economic restructuring and expand domestic demand during this process.Li made the remarks at a training course in Shanghai, saying China's urbanization, which still has much room for expansion, is China's largest source of domestic demand as well as the largest potential driver for development.Further, urbanization would bolster domestic demand, improve people's livelihoods and solve rural problems, Li said.Li noted that China would coordinate development among cities and towns, and step up development of cities in China's central and western regions, while prioritizing development in eastern cities.Chinese Vice Premier Li Keqiang (6th L, front) poses for a group photo with the participants of a training course on urbanization, in Shanghai, east China, June 24, 2010. Li demanded more efforts to solve issues for rural workers including settlement, education for children, housing and social security during the urbanization process.To steadily push forward urbanization in China is an urgent job at present and also a long-term task, Li added.The government said in March that China's rapid urbanization would continue for 15 to 20 years and China would become an urban society in five to six years, with the urbanization rate reaching or exceeding 50 percent.
BEIJING, June 9 (Xinhua) -- Chinese President Hu Jintao left Beijing on Wednesday for the 10th annual summit of the Shanghai Cooperation Organization (SCO) scheduled for June 10-11 in the Uzbek capital of Tashkent.Hu will also pay state visits to Uzbekistan and Kazakhstan as guest of Uzbek President Islam Karimov and Kazakh President Nursultan Nazarbayev respectively.Established in 2001, the regional body SCO now groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
来源:资阳报