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BEIJING, May 11 -- China's monetary authorities are struggling to address conflicting policy goals, but inflation will remain the top policy concern, the country's central bank governor said on Saturday. While the United States and other countries are more focused on fending off a recession, China's monetary policy must target inflation over growth and employment, Zhou Xiaochuan, the People's Bank of China governor, told a forum in Lujiazui, Shanghai's financial center. "There is no cure-all medicine, and we have to make the final decisions -- everyone hopes there would be a cure-all solution, but there is not," said Zhou. China's consumer price inflation would likely to rise to 8.5 percent in April from 8.3 percent in March, two sources familiar with the data said late on Thursday. The data, which is subject to last-minute revisions, will be officially released on Monday. Zhou Xiaochuan, governor of the People's Bank of China, addresses the Lujiazui Forum 2008 in Shanghai, east China, May 10, 2008. Heads of the People's Bank of China, the country's central bank, the Securities Regulatory Commission, the Banking Regulatory Commission and the Insurance Regulatory Commission all attended the two-day financial forum, opened on May 9. Lujiazui is the name of Shanghai's financial district. Meanwhile, the government said on Friday that China's producer price index, or factory-gate inflation, hit a three-year high of 8.1 percent in April, showing a sustained build-up in pressures on consumer price inflation. Zhou listed development of financial institutions and the imbalance in global money transfers as other issues that China's monetary policy may have to target. He said China needs to reduce the savings ratio as the fundamental way to address its over-reliance on trade, which now accounts for more than 60 percent of its annual GDP, but he did not elaborate on possible specific measures. On other issues, Zhou said Beijing has yet to reach a consensus over how to develop a properly functioning domestic bond market. Disputes remain about market infrastructure, the regulatory framework as well as laws and regulations, Zhou said.
BEIJING, April 4 (Xinhua) -- Some 600,000 people visited graveyards in the suburbs of Chinese capital Beijing on Friday, about triple last year's figure of 189,000, according to official statistics. On Dec. 16, the State Council (cabinet) revised the nation's official holiday schedule to add three traditional festivals -- Qingming, Duanwu and Zhongqiu -- in response to public calls. It also changed the length of other holidays. A citizen mourns her relative in a cemetery in Guangzhou, capital of southern China's Guangdong Province, April 4, 2008. The Chinese Qingming Festival, a day two weeks after the vernal equinox, is also called the Tomb-sweeping Day, when Chinese people usually mourn their deceased relatives, pay homage to martyrs and sweep the tombs of the departed. The holiday marked on Friday was Qingming, or grave-sweeping day. The change was intended to allow more people to pay their respects to deceased relatives on what would otherwise be a workday like Friday. No national figures on this year's tomb visits were immediately available. Unlike Beijing, many residents of Shanghai, China's largest metropolis and one of the most densely-populated cities, have to go to neighboring cities to visit relatives' tombs. People are walking to a cemetery in the west of Beijing on Friday, April 4, 2008. The Chinese traditional Qingming Festival falls on Friday this year, which is the occasion for Chinese people to pay respect to past ancestors by cleaning their graves, presenting offerings of food, and burning joss paper.Space for the dead is at even more of a premium in Shanghai than for the living, and the city's graveyards long ago stopped accepting new remains. Suzhou, Jiangsu Province, receives 900,000 tomb-sweepers from Shanghai every year. Friday was a day of remembrance in many areas of China. In Huangling County, Shaanxi Province, 8,000 people including some senior officials attended the annual memorial service at the tomb of Huangdi, the "Yellow Emperor" of Chinese legend. Governor Yuan Chunqing addressed the gathering and expressed his hopes that the Beijing Olympic Games would be successful, the reunification of China would occur and the world would become harmonious. Scholars say that Qingming has preserved the "feeling" of being Chinese across the generations. "Traditional culture has been infused with new spirits in different eras, and this is the mysterious power of Chinese Culture," Shi Aidong of the Chinese Academy of Social Sciences, told Xinhua in an interview. Qingming is always a day of bitter memories for residents of Nanjing, the provincial capital of Jiangsu. The Memorial Hall of the Nanjing Massacre received numerous domestic visitors -- and many from Japan. "We, from the aggressor side of the war, want to show regret to the victims on this special day," said one of the Japanese visitors. In December 1937, invading Japanese troops slaughtered 300,000 Chinese soldiers and civilians in the city, which was then the national capital. Many of the bodies were never properly interred, and many of the Chinese visiting the memorial on Friday have no graves to visit. Fuzhou, the capital of Fujian Province in east China, unveiled a monument ln honor of the thousands of firefighters died on duty since 1949. It is the first such monument in the country.

BEIJING, Sept. 12 (Xinhua) -- The government has cut back on import taxes on spare parts of large equipment and canceled the import tariff exemption on some complete sets. The adjustments were made to support the domestic manufacturing of large equipment, said the Ministry of Finance. Taxes levied on domestic enterprises for importing key spare parts of large equipment, including ultra- and extra-high voltage transmission equipment and transformers, large petro-chemical equipment and large coal-chemical equipment, would be refunded and injected into the enterprises as investment from the nation, it said. The policy applied to imports after Jan. 1, 2008, depending on the date of declaration of imports. In the meantime, the import of some complete sets of equipment by enterprises approved after Sept. 1, 2008 would no longer enjoy the tax exemption. Both domestic and foreign-funded projects are subject to the new policy, the ministry said. Imports of such equipment by enterprises approved before Sept. 1 would continue to enjoy the previous tax policies until March 1,2009.
BEIJING, Aug. 20 (Xinhua) -- Chinese President Hu Jintao on Wednesday paid a morale-boosting visit to the country's Paralympic athletes, urging them to "strive to become strong and fight for the best." With 16 days to go until the opening ceremony in Beijing, Hu, accompanied by Vice President Xi Jinping, went to the training center for Paralympic athletes in a northeastern suburb of the capital in the morning. Chinese President Hu Jintao shakes hands with an athlete at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008.More than 300 Chinese athletes competing in the Sept. 6-17 Games were busy training at the center, the country's first national-level training facility for disabled athletes. The 547-member China delegation, the largest in history, will participate in all 20 events during the upcoming Paralympics. Hu watched the training of the athletes in track and field, football, swimming and wheelchair basketball. He cheered on Li Duan who had lost his sight 12 years ago in an accident, as he practiced long jump under the guidance of his coach. Li won two gold medals at the 2004 Athens Paralympics. Chinese President Hu Jintao cheers on swimmers at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008 "I heard you used to play basketball and switched to long jump after an accident. It must have not been easy for you." Hu said while holding the blind man's hands. "A soldier could be injured, but he remained a soldier. An armyman could fall down, but his will was unbeatable," Li, a soldier in service, responded in high spirit. He said he would fight for better performances at the Beijing Games. Hu also shook hands with other track and field athletes, and looked over the artificial limbs and racing wheelchairs they used. "I was here to cheer for you before the opening of the Games, and I was moved to see all of you striving to become stronger and training very hard." He wished them all good luck during the Games. Chinese President Hu Jintao holds a football after writing "striving to become strong and fighting for the best" on it at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008. Hu also watched football players afflicted with cerebral palsy in training. They were the first-such group from China to represent the country in the Paralympics. He wrote on a football "striving to become strong and fighting for the best," after the 12 athletes gave the president a football with their own signatures. He said he hoped they would not only fight in the upcoming competition, but also in their daily lives. At the swimming stadium, Hu said he believed the athletes would fully demonstrate their abilities and bring some glory for the country. Chinese swimmers had performed well in previous events. Chinese President Hu Jintao shakes hands with wheelchair basketball players at the training center for Paralympic athletes in Beijing, China, Aug. 20, 2008Hu opened a game for wheelchair basketball players, and applauded the frequent baskets by the athletes. He urged players to put participation before winning and enjoy the fun of the Games. Hu also visited a downtown community home for the disabled after he left the training center to find out about the community services provided for the ordinary handicapped population in the capital. Chinese President Hu Jintao shakes hands with a disabled man who is playing chess in Shichahai community home for the disabled in Beijing, China, Aug. 20, 2008. At the special home set in a courtyard, he chatted with the disabled who were painting, writing, surfing on the Internet, playing Chinese chess or receiving recovery exercises. He also joined some mentally-challenged people who were learning to make pizzas and dumplings, and another 20 handicapped making handicrafts such as bracelets and cloth paintings. "The country will take more measures and make more efforts to improve the living conditions to let all the handicapped have a happy life in their mother country," Hu pledged.
BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign. These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference. The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said. The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October. However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth. CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said. CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation. The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index. From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period. The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.
来源:资阳报