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BEIJING, Sept. 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, announced Friday it would continue the country's moderately easy monetary policy while making it better-targeted and more flexible in the coming months of this year.The PBOC made the announcement in its report on China's financial stability, which was released on the PBOC's website.The PBOC said in the next stage it needs to skillfully handle the relationship between maintaining steady and rapid economic development, restructuring the economy and managing inflation expectations.Chinese banks should continue supporting the country's economic restructuring, guard against risks, change profit structures, and improve the capital replenishing and restriction mechanism, the central bank said in the announcement.The announcement noted that local government debt was rising quickly, corporate liquidity was decreasing with a high current debt ratio, and credit card advances were increasing despite mounting financial assets held by residents and the low debt level.It said the global financial crisis had revealed limitations and gaps in the existing regulatory system. To prevent systemic risks, the central bank would combine macro and micro-prudential supervision in its policy package.

ATHENS, Oct. 3 (Xinhua) -- China and Greece issued a joint statement on Saturday, pledging to enhance their cooperation in various fields in an effort to deepen bilateral comprehensive strategic partnership.In a joint statement issued during the visit by Chinese Premier Wen Jiabao, the two countries expressed willingness to maintain frequent visits by leaders from both sides and enhance mutual political trust."The Greek government respects China's territorial integrity, reaffirms its adherence to the one China policy and supports the development of cross-Strait relations and China's reunification," the statement said.Both sides also agreed to promote the development of the China-EU comprehensive strategic partnership.Greece will continue to play a positive role in discussions within the EU over the recognition of China's full market economy status, which Athens believes is of great political significance, as China has made substantial progress on the issue within the framework of the World Trade Organization, said the statement.Hoping for a just, lasting and feasible solution to the Cyprus issue based on relevant UN resolutions, the two countries support the mediation efforts by UN Secretary General Ban Ki-moon.Greece is willing to cooperate with China in their joint fight against pirates and safeguard the international shipping, according to the statement. The two countries also agree to discuss the possibility of signing a Memorandum of Understanding on the issue.Both governments said they are ready to boost dialogue and cooperation to address climate change and make the upcoming UN climate change conference in Cancun, Mexico, achieve positive results.The two sides agree that the international financial crisis did not alter the long-term trend of world economic development. The global economy is gradually recovering but still with uncertainties."It is necessary for countries all round the world to strengthen coordination on their macro-economic policies to push forward a full-fledged recovery of the world economy," said the statement.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

GUANGZHOU, Oct. 12 (Xinhua) -- Chinese President Hu Jintao lit the Asian Games torch from a specially designed cauldron in Beijing's Temple of Heaven Tuesday morning, marking the official start of the month-long relay for the 16th Asian Games.The torch relay will cover Beijing, Harbin, Changchun, Shandong's Haiyang, and 21 cities in southern Guangdong Province before arriving at the Asian Games opening ceremony in Guangzhou on November 12.Guangzhou, capital city of Guangdong, has been preparing itself for the games for the past six years, after it won the bid to host the Games in July 2004.The construction of the venues and the Asian Games Village has been completed. The Asian Games Village, covering 622,000 square meters, will house more than 40,000 athletes, officials, media personnel and volunteers.The garden-style village boasts a treasure trove of ancient Chinese architecture and tranquil natural sceneries, which are meant to provide the athletes with a serene getaway from the hustle and bustle of the competitions."The rooms for the athletes are not equipped with telephones, TV sets or cooking facilities, so the athletes can enjoy a quieter and safer environment," said Fan Haoran, a staff member in charge of housing services in the Village.To ensure the safety of the Games, more than 100 security checkpoints have been set up at highway toll stations and ferry terminals in the provinces of Guangdong, Fujian, Jiangxi, Hunan, Hainan and Guangxi Zhuang Autonomous Region.The public security divisions at all levels nationwide will be involved in a series of safety measures, such as increasing efforts to investigate and handle legal disputes, cracking down on violent crimes, and monitoring public security, according to the public security bureau of Guangzhou Municipality.Guangzhou Public Security Bureau has distributed security awareness pamphlets to bus and car drivers, introducing them to measures designed to prevent and cope with crimes and terrorist attacks, said Zhu Xuqin, an official at the Guangzhou Public Security Bureau.The Special Force of Chinese People's Armed Police Forces of Guangdong Province has already undergone a strict 100-day counter-terrorism attack training program."We have been studying the security incidents that took place in the Munich Olympics and the Atlanta Olympics, and have discussed ways to cope with emergencies as well as acquainted ourselves with the sports venues," said Li Hejun, a general of the special force.As for the accusations about the safety hazards of Guangzhou's subway Line Three which were posted online by a local engineer, Guangzhou Metro Corporation announced Tuesday that Line Three was safe enough, despite the fact that the compressed strength of the concrete in some parts of the line was below the planned standards.As an integral part of the preparation for the Asian Games, the local government of Guangzhou has been building additional sports infrastructure for the public.Currently, Guangzhou has more than 20,000 sports venues and facilities and 9,000 green spaces for morning and evening exercises."We want to make the Asian Games a holiday for all. The best way to approach sports is to make it a way of life," Zeng Weiyu, vice president of the department of publicity of the Guangzhou Asian Games Committee, said.

BEIJING, Oct. 14 (Xinhua) -- Chinese Vice Premier Wang Qishan on Thursday called for efforts from both sides to safeguard the relations between China and the United States."The two nations should further enhance understanding and mutual trust to avoid politicizing economic and trade issues," Wang said when meeting Madeleine Albright, former U.S. secretary of state.During their meeting at Zhongnanhai in downtown Beijing, Wang said Sino-U.S. relations were "moving forward through difficulties."Economic and trade cooperation between the two sides were expanding and the interaction between Chinese and U.S. enterprises and markets intensifying, Wang said."China will not change its policy of opening-up and the investment environment will also be improved," he said, asking foreign entrepreneurs to be confident and patient.Albright said a sound U.S.-China relationship was critical to the world economy.