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BEIJING, May 10 (Xinhua) -- Home prices in 70 large and medium-sized Chinese cities rose by 12.4 percent year on year in May, the National Bureau of Statistics (NBS) said in a statement Thursday.The growth rate was 0.4 percentage points lower than that of April, as property sales in first-tier cities, including, Beijing, Shanghai and Shenzhen, contracted following a string of government measures to rein in price rises.Second-hand homes prices posted a year-on-year increase of 9.2 percent in May, but fell 0.4 percent from April, said the NBS in the statement.New home prices rose 15.1 percent year on year, down 0.3 percentage points from April.In May, floor space sold stood at 67.77 million square meters, a decrease of 12.74 million square meters from April.Floor space sold in the first five months climbed 22.5 percent from a year earlier to 302 million square meters. Growth in the first five months was down 10.3 percentage points compared with the January-April period.

HAVANA, July 31 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi on Saturday said that China and Cuba share profound traditional friendship and huge potential for boosting bilateral cooperation.In an interview on his ongoing trip to the Caribbean island state, Yang spoke highly of the friendship between the two countries, which he said has been deeply rooted in the hearts of the two peoples.Noting that Cuba was the first Latin American country to establish diplomatic ties with China, the top Chinese diplomat said that the China-Cuba relations, characterized by friendly cooperation of mutual benefits, have stood various tests during the past five decades despite the constant changes of the volatile international situation. Cuba's leader Raul Castro (R) meets with visiting Chinese Foreign Minister Yang Jiechi in Havana, capital of Cuba, Aug. 1, 2010.Meanwhile, recent years have seen the two countries gain mounting momentum in the development of their relations and the two peoples show increasing readiness for more exchange and cooperation, Yang added.

PARIS, July 9 (Xinhua) -- China Changan Auto Group Corporation (CCAG) and French leading carmaker PSA Peugeot Citroen signed a contract Friday here on the creation of an equally owned joint venture in China.The contract was signed by Xu Bin, president of China South Industries Group Corporation, Changan's main shareholder, and Philippe Varin, chairman of the French part's Managing Board, at a ceremony attended by Wu Bangguo, chairman of the Standing Committee of the National People's Congress, Bernard Accoyer, president of the National Assembly of France.Their initial cooperation will focus on introducing the Citroen DS line in China and launching a dedicated new brand for the venture, the two companies said in a joint statement.The contract also allows for the joint venture to market, at a later date, further vehicles under the partners' other brands, Peugeot and Changan, they said.Based in Shenzhen, southeast of China, the joint venture will have initial annual production capacity of 200,000 vehicles and engines, which will meet the highest environmental standards. The contract also outlined two production lines, a specific range of vehicles by each side and a research and development center.The new joint venture will be capitalized at RMB 4 billion yuan (590 million U.S. dollars), to be shared equally by the two partners, and backed by an initial investment of RMB 8.4 billion yuan (1.24 billion dollars).The first vehicle is scheduled to be launched in second-half 2012, provided the joint venture is finally approved by the relevant authorities, the statement concluded.

BEIJING, Aug. 21 (Xinhua) -- China's flood control authority Saturday urged more efforts to battle flooding in areas along the Yalu River in northeast China's Liaoning Province, to ensure the safety of local residents.The Office of National State Flood Control and Drought Relief Headquarters has required relevant departments to focus on the prevention of landslides.The office dispatched a work team to Liaoning Saturday to assist flood-control efforts.As of 7 a.m. Saturday, three people were missing and about 51,000 people had been evacuated, after the swollen Yalu River flooded parts of Dandong City in Liaoning.

BEIJING, July 12 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per U.S. dollar Monday, a new record high, according to the data released by the China Foreign Exchange Trading System.China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.