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BEIJING, Oct. 28 (Xinhua) -- The 11th National People's Congress (NPC) Standing Committee, China's top legislature, concluded its fifth session on Tuesday after passing new laws and international treaties.     It adopted an amendment to the fire control law and passed a law designed to protect state-owned assets from being illegally seized.     The session also ratified a bilateral treaty on extradition with Portugal.     The 21-article treaty was signed by Vice Foreign Minister Zhang Yesui and Portuguese Foreign Minister Louis Amado in Beijing on Jan. 31, 2007.     The top legislature session also ratified an amendment to the Convention on the Physical Protection of Nuclear Material, the Convention on International Interests in Mobile Equipment, and the Protocol thereto on Matters Specific to Aircraft Equipment.     NPC Standing Committee Chairman Wu Bangguo said the legislature would continue working on an amendment to the country's law on food safety, which is being revised following a nationwide toxic milk scandal.     The session publicized a draft of amended law on earthquake prevention and disaster reduction to receive suggestions from all circles.     Wu Bangguo said at the session that to promote the judicial fairness and public supervision is a long-term task and called for more efforts in this regard.     He urged lawmakers to live up to their responsibilities to provide more useful and effective advices or suggestions to the top legislature, including those on macro-control of the economy.

Chinese Premier Wen Jiabao waves to the construction workers during his visit to a water dam construction site in southwest China's Chongqing Municipality Dec. 21, 2008. During his trip, Wen visited a number of local factories, communities, villages and worksites.     CHONGQING, Dec. 22 (Xinhua) -- Premier Wen Jiabao has called it a prime job to maintain a stable and relatively fast economic development and take more direct, powerful and effective measures to implement central policies on increasing domestic demands and promoting economic growth in a substantial way.     "Next year, it is the important target to stop the declining trend of economic growth and it is a must to focus on increasing domestic demands so as to promote economic growth," said the premier during an inspection tour in southwest China's Chongqing Municipality from Dec. 21 to 22. Chinese Premier Wen Jiabao waves to college students of Chongqing University in southwest China's Chongqing Municipality Dec. 22, 2008. During his trip, Wen visited a number of local factories, communities, villages and worksites.    During his trip, Wen visited a number of local factories, communities, villages and worksites, with the company of Chongqing Communist Party chief Bo Xilai and Mayor Wang Hongju.     In his talks with local people, Wen discussed ways to get over the current financial difficulties and speed up reform and development in Chongqing. Chinese Premier Wen Jiabao holds a talk with locals in a village of southwest China's Chongqing Municipality Dec. 21, 2008    In a visit to the reservoir worksite, Wen was told that Chongqing plans to invest 40 billion yuan (5.88 billion U.S. dollars) in water conservation projects in the coming five years as part of its efforts to increase domestic demand and improve the quality of life. "We must make a good use of every coin of the people," he said.     At a workshop of the Chang'an Group, the premier showed great concerns over the negative impacts of the global financial crisis on the city's automobile industry. Chinese Premier Wen Jiabao sits in a car produced by the Chang'an Group in southwest China's Chongqing Municipality Dec. 21, 2008    The company's car sales have been declining since November. It is expected to further decrease in December and the first quarter of next year, said the company's president Xu Liuping. "We must brave the difficulties by ourselves, but we also need government support," Xu said.     Wen said that difficulties in the country's automobile industry are temporary as it a promising industry, because "China has a huge market." Chinese Premier Wen Jiabao visits a factory in southwest China's Chongqing Municipality Dec. 21, 2008.     Wen urged the company to depend on innovation and reform while improving quality and decreasing the cost. "Company leaders must be bold to shoulder responsibilities and the staff should unite as one, to get over the difficulties together," he said.     On Monday morning, the premier paid a visit to a communal social security center to learn about the life of low-income families. "The more financially challenged we are, the greater attention we should pay to those in need," he stressed.     At the home of 76-year-old Ren Guoqing, the premier said the government has decided to continue increasing the pension of retirees, as well as the subsidiaries for low-income families and other families who receive government subsidies.     During his tour in the city, Wen paid an unplanned visit to Chongqing University, where he met thousands of students and encouraged them to be confident in the difficult times.

BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading.     Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis.     "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday.     "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said.     Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis.     It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said.     According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year.     With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said.     Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities.     Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said.     "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said.     In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.

BEIJING, Oct. 31 (Xinhua) -- China's decision to cut interest rates on Thursday is part of its flexible monetary policy to cope with the world financial crisis and boost domestic economy, a central bank spokesman said on Friday.     Li Chao, spokesman of the People's Bank of China (PBOC) explained the government's cut in interest rates for the second time in one month.     On Wednesday, the PBOC announced to cut interest rates by 0.27 percentage points as of Oct. 30 to spur economic growth. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87percent, while the benchmark one-year lending rate fall from 6.93 percent to 6.66 percent.     The previous cut was on Oct. 8, when the PBOC announced a lowering of deposit and lending rates by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     Li said the move was in response to a spreading and worsening world financial crisis. "The severe crisis was beyond most people's expectations."     He said: "China's economy relies highly on external markets. It is very necessary for the country to adjust economic policy, including monetary policy, in a timely and flexible manner to reduce the negative impact to a minimum."     "Recently, China's exports have weakened as a result of weak world demand. Domestic export-oriented enterprises, especially those coastal based companies, face difficulties," he added.     The country's export value in the first three quarters was 1.07trillion dollars -- up 22.3 percent -- the growth rate was 4.8 percentage points lower, official figure showed.     "Meanwhile, the nation's inflation pressure has been eased," he said, adding the latest interest rate cut aims at maintaining the energy of China's economic growth.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year. The growth rate was 2.3 percentage points lower than the same period last year.     Consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     When asked the reason why the government only reduced interest rates and left the reserve-requirement ratio unchanged in the latest move, Li said this is because liquidity of the country's bank is adequate.     Li said to cope with the international financial crisis and maintain sound and relatively fast national economic growth, the central bank has removed mandatory restriction on the commercial banks' loan plan.     He said that China has confidence that it can resist the world financial crisis, as the country has great potential in expanding its domestic demand, and the financial system is stable.     He called for cooperation between countries worldwide to cope with the crisis, and to carry out international financial system reform