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Local governments above the county level are responsible for school bus safety management in their jurisdiction and central departments are obliged to "guide and supervise" school bus safety, the draft says.

Both bourses said they would solicit public opinions on the draft proposals till May 20.

BEIJING, March 1 (Xinhua) -- China will boost the clean-up of thousands of millions of local government's debt in 2012, so to guard against possible defaults that would hurt its banks, the country's banking regulator said Thursday.

To cool its runaway housing market, China has introduced tightening measures including the differentiated home loan policy.

Wenzhou, a city in east China's Zhejiang province that is known for its booming private sector, has been heavily affected by the private debt crisis.