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BEIJING, Oct. 20 (Xinhua) -- China's central bank Tuesday announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points effective from Oct. 20, a move widely seen as the government's action against inflationary pressure.The People's Bank of China (PBOC) said in a statement on its website that the one-year deposit rate will rise from 2.25 percent to 2.50 percent, and the one-year lending rate will increase from 5.31 percent to 5.56 percent.The rise, the first over the past three years, had not been anticipated and could be related to the impending September statistics and the third quarter statistics, said Jiang Chao, an analyst with Guotai Junan Securities.The CPI (Consumer Price Index), a key gauge of inflation, may maintain its high level in September, Jiang said.The rate hikes are the first in three years. The central bank last hiked rates on Dec. 21, 2007.The benchmark interest rate has been cut four times since the global financial crisis.Li Daokui, a member of the PBOC's monetary policy committee, said statistics showed China's economy has been bottoming out from the accelerated slump at the beginning of this year, but prices of goods remain at a high level, attracting attention from policy makers.Further, policy makers have to seek a balance between economic growth, restructuring and stable prices, Li said."Judging from the move, worries about soaring prices overwhelmed jitters on economic growth, as is the main reason for the interests rate hike. Negative interests rate (higher CPI increases than deposit interests rate) is also another reason," Li said.Liu Yuhui, an expert with the Institute of Finance and Banking at the Chinese Academy of Social Sciences, said the interests rate hike this time is related to expectations of inflation as the negative interests rate has continued for seven months.China has been experiencing hikes in prices of agricultural products, urban services like home rents and catering, Liu said."We believed it was caused by soaring labor costs, also related to issue of currencies and soaring living costs in cities," Li said.Prices of garlic, ginger and sugar have jumped in China's market. Sugar prices in Shanghai stood at 6,000 yuan (900.90 U.S. dollars) per tonne, much higher than 2,700 yuan per tonne seen one year earlier.

BEIJING, Sept. 14 (Xinhua) -- China UnionPay and MasterCard Worldwide announced Tuesday that they have signed a Memorandum of Understanding for future business development.The agreement seeks to set up a cooperation mechanism for both sides and the two companies plan to form working groups to discuss and implement development plans for online payments and other business opportunities.China UnionPay is the bankcard association in China, operating unified interbank clearing and settlement systems throughout the country.

BEIJING, Aug. 31(Xinhua) -- China has cracked 278,000 criminal cases and broken up nearly 1,650 mafia-style gangs since it launched a campaign to maintain public security in rural-urban fringe zones and on campuses in January.About 256,000 suspects had been arrested as of Tuesday, according to a national working group on maintaining public security composed of officials from government agencies, including the Central Commission for Political and Legal Affairs of the Communist Party of China (CPC) and the Ministry of Public Security.Investigating and rectifying public security threats remains an arduous task, said Wang Lequan, deputy secretary of the Commission.The government will maintain its "strike hard" policy against mafia-style gangs, crimes involving guns and explosives, gambling, prostitution and drugs, Wang said. Authorities have "zero-tolerance" for such crimes, he added.

WUHAN, Sept. 8 (Xinhua) -- Chinese Vice Premier Li Keqiang has called on local authorities to "put people first" and give priority to the improvement of people's incomes when forging ahead with the country's ambitious health care reform.To ensure people have an equitable access to basic health care is not only an important task of the health care reform, but an important means to promote social equity, resolve financial difficulties for people, and boost the country's employment, he said during a two-day inspection tour in central China's Hubei Province that began Monday.China has launched a health care reform to last from 2009 to 2011. Under the 850 billion yuan (125 billion U.S. dollars) plan, the government promised universal access to basic health insurance, the introduction of an essential drug system, improved primary health care facilities, equitable access to basic public health services and a pilot reform of state-run hospitals.Efforts would be made to comprehensively strengthen basic public services, build a safety net for residents to make sure they have basic living expenses, accelerate the reform of the income distribution system, and increase the income of low-income groups in order to ensure the benefits of China's reform and development are shared by all people, he said.8 In a tour to Dongshan Village of E'zhou City, the vice premier stressed the importance of innovation in the local development mode, the improvement of farmers' incomes and social development in rural areas.When visiting a community health care service station, Li called on medical staff to improve their professional competence and expand the scope of their service for the people.

PODGORICA, Sept. 23 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Podgorica on Thursday for a three-day official goodwill visit to Montenegro.Li, a member of the Standing Committee of the CPC Central Committee Political Bureau, said in a statement issued upon his arrival that he hopes his visit will bring bilateral relations between China and Montenegro to a higher level."I am looking forward to holding in-depth discussions with Montenegrin leaders during the visit on major international and regional issues," he said. Li Changchun (R, front), a senior official of the Communist Party of China (CPC), visits Tallinn University of Technology in Tallinn, Estonia, on Sept. 23, 2010.He added he hopes the visit will help further strengthen friendship, boost mutual trust, deepen cooperation and realize common development between the two sides.During his stay in Montenegro, Li will meet with the prime minister and the parliament speaker of Montenegro.The two sides are expected to sign a number of agreements covering economic and technology cooperation.Montenegro was the second leg of Li's four-nation tour which will also take him to Ireland and Iran. He arrived in Podgorica from the Estonian capital of Tallinn. Earlier in the day in Estonia, he made a tour of Tallinn University of Technology. He also met with the mayor of Tallinn.