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BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

BEIJING, May 19 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) raked in a combined profit of 325.99 billion yuan (47.7 billion U.S. dollars) in the first four months of the year, the industry authorities announced here Wednesday.The profit figure in the January-April period represents 81.7 percent growth year on year, the State-Owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website.Centrally controlled SOE's combined operating revenue hit 4.89 trillion yuan in the period, up 50.4 percent year on year, the statement said.While the statement did not specify the reasons for the profit and revenue increases, experts from the SASAC research center attributed the surge to last year's low comparison basis when Chinese firms were hit hard by the global economic downturn.There are currently 126 centrally-administered SOEs under the SASAC.

STOCKHOLM, June 2 (Xinhua) -- A senior Chinese legislator on Wednesday met Swedish parliament speaker Per Westerberg to discuss ways to boost parliamentary exchanges and ties between the two countries.Hua Jianmin, vice chairman of China's National People's Congress (NPC) Standing Committee, said parliamentary exchanges serve as an important part of diplomatic relations between China and Sweden.He said parliamentary exchanges have provided the legal guarantee and foundation for people-to-people understanding and friendship, and are conducive to bilateral exchanges and cooperation in various fields.Swedish Parliament Speaker Per Westerberg (L) meets with visiting Vice Chairman of the Chinese National People's Congress Standing Committee Hua Jianmin in Stockholm, Sweden, June 2, 2010.He said this year marks the 60th anniversary of the establishment of diplomatic relations between China and Sweden, which have developed in depth in recent years. Sweden was the first Western country that established diplomatic relations with New China.Westerberg said Sweden and China have enjoyed very close relations.Sweden commends China's extraordinary achievements in economic and social development, and the achievements not only benefit the Chinese people but the world, said Westerberg.Sweden always advocates free trade and welcomes Chinese investors to invest in Sweden, he said.He said Sweden's parliament also hopes to have more exchanges with China's NPC at various levels in various forms so as to improve mutual understanding and contribute to deepening bilateral relations.

OMAHA, The United States, May 1 (Xinhua) -- U.S. billionaire Warren Buffett said on Saturday that China is an amazing economy and the Chinese people will be living better lives in 20 years than today.When responding to a question from a Chinese student who is currently studying at Kansas City, Buffett said China is a country with great potential."China is an amazing economy, there's no question about that, and China's excising this kind of potential," Buffett said at the annual shareholders' meeting of Berkshire Hathaway.Buffett, CEO of Berkshire Hathaway, also emphasized that countries around the world do learn from each other.China may learn a few things from U.S. in its own development, but "they don't take everything we have," he said, adding that at the same time, countries like India and China are also helping improve U.S.The billionaire said he was full of hopes for emerging economies like India and China. "People in India and China will be living better lives in 20 years than today."

BEIJING, April 20 (Xinhua) -- Foreign leaders and heads of international and regional organizations continued to send their condolences to China on Monday and Tuesday over a powerful earthquake that hit northwest China's Qinghai Province.Messages of condolences were sent through various channels to Chinese President Hu Jintao, Premier Wen Jiabao, and Wu Bangguo, chairman of the Standing Committee of the National People's Congress.Sri Lankan President Mahinda Rajapakse expressed support to the Chinese government and people on behalf of the Sri Lankan government and people. He believed the Chinese people have the courage and determination to overcome the challenges of the relief work.Iraqi President Jalal Talabani conveyed sincere greetings to the Chinese people. He believed the undaunted Chinese people will definitely overcome the disaster.Khalifa Bin Zayed Al-Nahyan, president of the United Arab Emirates, and Mohammed Bin Rashid Al Mak-toum, vice president and prime minister, sent deepest sympathy and greetings to the Chinese people.Lebanese President Michel Suleiman expressed condolences to the victims of the quake and conveyed greetings to the Chinese people, especially the families of the victims.Bahraini Prime Minister Sheikh Khalifa bin Salman Al-Khalifa sent sincere greetings to the Chinese people and wished the injured to recover soon.Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah, Kuwait's Crown Prince, conveyed condolences to the victims and wished the injured quick recovery.Mongolian Prime Minister Sukhbaataryn Batbold expressed deep condolences to the Chinese people.Eda Satsuki, president of House of Councilors of Japan, conveyed condolences to the Chinese people.Iranian Parliament Speaker Ali Larijani felt deep sorrow over the huge casualties of the earthquake and expressed sympathy to the families of the victims.Italian President Giorgio Napolitano expressed deep sorrow over the casualties of the quake and conveyed sincere greetings to the Chinese people and deep condolences to the victims.Doris Leuthard, president of the Confederation of the Federal Council of Switzerland, sent sincere condolences to the Chinese people.