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BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, Aug. 16 (Xinhua) -- For a second day, the Olympic host city reported Grade I -- or excellent -- air quality on Saturday, the eighth day of the Olympics. In most of the day, the city basked in sunshine.    Figures released by the China Environmental Monitoring Center (CEMC) revealed that Beijing's Air Pollution Index (API) showed a reading of 23 on Saturday, which fell into Grade I, whose API reading ranges between 1 and 50. On Friday, CEMC's figures showed an API reading of 17.    China uses the API system to report the country's air quality. An API reading between 51 and 100, or Grade II, means the air quality is fairly good. An API reading between 101 and 150, or Grade III, entails the air quality is slightly polluted.Also on Saturday, deputy director of the Beijing Municipal Bureau of Environmental Protection Du Shaozhong said the city reported seven days with Grade I air quality in the first half month in August, which was the highest since 1998.    In the other eight days, Beijing's air quality was in Grade II, which was within the standards to host the Olympics.    "Beijing often reports more days with Grade I air quality during the autumn and winter in comparison with the summer. But this August, the number of days with excellent air quality is unusually high," he said.    Since 1998, the highest monthly number of days with excellent air quality in the summer was five, in July of 2006, he said. Last August only two days reported excellent air quality.    Du forecast that Beijing's air quality would be excellent or fairly good during the Olympics and Paralympics. "Should weather conditions be favorable, Beijing's air quality would be excellent. Should weather be unfavorable, the air quality would be in Grade II," he saidWang Zifang, a Beijing-based expert on weather forecasting, said Beijing's air quality would be excellent until Monday.    "During Aug. 19-21, the wind is forecast to change direction and may bring pollutants from cities to the southeast of Beijing, such as Tianjin and Langfang," Wang said.    Du attributed good air quality to efforts made by Beijing to curb air pollution over the last nine years, especially this year.    Beijing municipal government said it had poured more than 140 billion yuan (20.5 billion U.S. dollars) since 1998 into more than 200 projects dedicated to improving the city's air quality.    In the run-up to the Beijing Games, the host city implemented some drastic measures to reduce pollution.    In one of these measures, Beijing has imposed an odd-even restriction system based on licence plate numbers that would keep vehicles off the road on alternate days from July 20 to Sept. 20.

BEIJING, May 19 (Xinhua) -- Millions of people in China and overseas observed three minutes of silence at 2:28 p.m. on Monday as they mourned the many killed in a deadly earthquake in Sichuan Province a week ago.     President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao, and other top leaders including Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang also stood in silence in the central government compound of Zhongnanhai in Beijing.     The leaders, dressed in dark suits and wearing white paper flowers on their chests, bowed their heads in solemn silence below a national flag flying at half staff. Former President Jiang Zemin also stood in silence, separately. Senior Chinese leaders including Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang mourn during a silent tribute to the dead in the earthquake hitting southwest China's Sichuan Province, in Beijing, capital of China, May 19, 2008The remembrance was part of a highly unusual three-day national period of mourning for those who died in the 8.0-magnitude earthquake.     The quake is known to have killed at least 32,000 people, but officials have said that the final toll could exceed 50,000.     Across the country, sirens and horns wailed; people fell silent. China Central Television darkened its screen. In the headquarters of the Beijing Organizing Committee for the Olympic Games, more than 200 employees gathered in front of their office building, facing southwest, towards Sichuan, in a silent tribute.     In Tian'anmen square, thousands of people shouted "Go, Go, China!" "Brave and strong, China!" and "Brave and Strong, Wenchuan!” "Hang on, Sichuan!"     Wenchuan County was the epicenter of quake on May 12.     Financial markets suspended trading for three minutes. Some traders said people had asked about buying stocks of Sichuan-based companies to show support.     PRAYERS FOR SALVATION     Across the country, people honored the quake dead in various ways; some flew black kites and some held chrysanthemums. Children stood holding lit white candles, and villagers in China's remote northwest burnt incense sticks and paper money to see off the dead.     In front of the Potala Palace in Lhasa, capital of Tibet, residents mourned in the rain, and Lamaists prostrated themselves while saying prayers for the deceased.     "I saw the calamity of the earthquake in TV, and I pray for the people who died and hope those living are strong and hold on," said Ama Cering, a ethnic Tibetan woman.     Senior Chinese leaders including Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, He Guoqiang and Zhou Yongkang mourn during a silent tribute to the dead in the earthquake hitting southwest China's Sichuan Province, in Beijing, capital of China, May 19, 2008. Former President Jiang Zemin also stood in silence, separately, while Li Keqiang, another senior Chinese leader, observed the period of silence in Beichuan County of Sichuan on May 19.    MOMENT OF SILENCE IN BATTERED SICHUAN     In battered Sichuan, green-uniformed soldiers and rescuers in orange suits paused briefly for the mourning, joined by rescue forces from Japan, Russia, the Republic of Korea and Singapore.     "When the siren sounded, I felt a sudden shudder. I feel deeply sorry for those dead brothers," said Pu Taihua, a rescuer in Beichuan, tears mixing with sweat on his face.     Although rescuers are being challenged by the rugged terrain and aftershocks in Sichuan, more than 100,000 soldiers and rescuers are still battling to search for buried survivors.     The quake victims, who are clinging to hope that their relatives have somehow survived, also took time to join the mourning.     In Beichuan County, one of the worst-hit areas in Sichuan, surviving students, wearing white T-shirts, stood with their heads deeply bowed. Some of them had been orphaned by the earthquake.     In Anxian County, also hit hard, more than 1,800 homeless residents gathered on open ground for the remembrance. Peng Hao, a boy who lost his father, wrapped himself in his dad's blanket and wailed plaintively with his mother.     In the Tianpeng Middle School in Pengzhou City, Sichuan, thousands of people gathered on the playground. An eerie silence was broken by cries from the crowd after a baby, Dong Chengyuan, began to wail in the arms of his grandmother.     The baby, whose grandfather died in the quake, wore a black armband that read "mourning" in Chinese.     Baby Dong's mother, Chen Jiao, said the family had cried all their tears. "When I found my dad, he was crushed by two beams, one on his neck and another on his feet. His body was almost disfigured," said Chen.     After the memorial, residents wandered around the playground, reluctant to leave.     WOUNDS WILL HEAL     From herdsmen and hearing-impaired children to elderly survivors of the deadly 1976 Tangshan earthquake, from bus drivers in Beijing to barter traders along the China-Russia border in Manzhouli, grieving Chinese are rallying against the disaster.     "My best friend died in the earthquake, but wounds will heal, homes will be rebuilt and everything will be all right," said Zhang Xiaomei, a student in the Yinghua Middle School in Deyang City.     On Monday, a downtown square in Chengdu was crammed with thousands of people who shouted "Go, Sichuan!" "Go China!" amid tears.     "The people in Sichuan are not alone. The whole China of is supporting them," said Ma Guoxi, a student in Ningxia University.     Mark Hancock, an Australian teacher in Qinghai, joined hundreds of Chinese mourners in a downtown square in Xining, capital of Qinghai Province.     "It's been a terrible catastrophe for China, for the Chinese people," he said, struggling to hold back tears. "It's a time for China to demonstrate its enormous strength to overcome the tragedy, and people all over the world are with them and supporting them," he added.     "The earthquake took away people's lives, but it will not frighten the brave Chinese people into retreat. We will get over the hardships and a stronger China will have a better future," said He Bin, a police officer of the Anhui Provincial Public Security Department. President Hu Jintao, standing atop the rubble amid aftershocks on Sunday, said through loudspeakers to the soldiers in the quake-hit Shifang City: "I truly believe that the heroic Chinese people will not yield to any difficulty!"

BEIJING, April 30 (Xinhua) -- Jia Qinglin, Li Changchun and Zhou Yongkang, members of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.     During their separate visits, they were shown around the 160 material exhibits and more than 400 pictures. The exhibition is being held in two halls of the Nationalities Cultural Palace. Jia Qinglin, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday. The exhibition shows the backwardness of Old Tibet and the development and progress of New Tibet, as well as the inseparable, historic links between Tibet and the Chinese nation.     Tibet is in its best period in history and the exhibition shows the great changes in the Tibet Autonomous Region in the political, economic, social and cultural fields, said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). Li Changchun, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.Li, who is responsible for the Party's ideological work, said the exhibition exposes the darkness, cruelty and backwardness of Old Tibet and the hypocritical face of the ** Lama as a "human rights guardian," "missionary of peace" and "spiritual leader."     The historic materials show that Tibet has been an inseparable part of China since ancient times, as the Chinese central government has exercised effective sovereign rule over Tibet, said Zhou, the secretary of the CPC Central Committee for Political and Legislative Affairs. Zhou Yongkang, member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visits a large-scale theme exhibition, "Tibet, the Past and the Present," on Wednesday.The senior Party officials all pledged to safeguard the achievements of New Tibet, the happy lives of Tibetans and prosperity, development, harmony and stability in Tibet.     Other senior Party and State officials visiting the exhibition on the same day included Hui Liangyu, Liu Yunshan, Ma Kai, Meng Jianzhu and Du Qinglin.     The exhibition is sponsored by the United Front Department of the CPC Central Committee, the State Council Information Office, the State Ethnic Affairs Commission and the regional government of Tibet. It will be open to the public between April 30 and July 25,free of charge.

BEIJING, June 20 (Xinhua) -- Chinese President Hu Jintao on Friday hailed the 60th anniversary of the People's Daily, the voice of the Communist Party of China (CPC), and extended his salute to all Chinese journalists.     After inspecting the People's Daily, Hu encouraged reporters and editors to innovate their reporting styles and bring into a full play the paper's leading role.     He sent his greetings to the paper's overseas correspondents and asked them to link the transformation of the international situation with China's reform and opening-up. This was to improve the quality and influence of the paper's international reporting. It has 33 overseas bureaus.     Hu, also general secretary of the CPC Central Committee, visited people.com.cn, the online arm of the daily newspaper and a leading news portal in China. Over 11 years of development, the website now received about 100 million visits daily.     He then held his first live online chat with netizens on Friday, telling them divergent voices could be heard in the country. Chinese President Hu Jintao (C) inspects the People's Daily, the voice of the Communist Party of China, in Beijing, capital of China, June 20, 2008. Hu on Friday hailed the 60th anniversary of the start of publication of the People's Daily and extended his salute to all Chinese journalistsHu, who said he sometimes found time to surf the web, said in his chat with netizens, "I try to know through the Internet what people are concerned about and what they think (on a wide range of topics)."     "I'm willing to get an idea on people's complaints of and proposals to the work of our Party and the government.     "The Internet is an important space to know about people's thoughts," said Hu, who revealed the BBS of people.com.cn was his must-visit while surfing the web.     The "BBS" he mentioned was the Qiangguo Forum, with the literal meaning in Chinese of "powering the nation." The virtual-reality forum was initiated by netizens to express anger at the U.S.-led NATO forces bombing of the Chinese embassy in Belgrade in 1999. Since then, the forum has been one of the most popular venues for netizens to speak out.     Hu's four minute live chat with netizens highlighted the recent efforts of the government to directly contact the people.     He told the paper's staff that with the rapid social and economic development it's more convenient and faster now for people to obtain and spread information and the role of public opinion was more significant than ever.     He asked newsmen to stick to the CPC principle, serve the people, constantly reform to enhance influence and strengthen the use of new media in their daily work.Chinese President Hu Jintao (C) inspects the People's Daily, the voice of the Communist Party of China, in Beijing, capital of China, June 20, 2008. Hu on Friday hailed the 60th anniversary of the start of publication of the People's Daily and extended his salute to all Chinese journalists