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BEIJING, May 29 (Xinhua) -- China's Office of State Flood Control and Drought Relief Headquarters (SFDH) urged local governments to strengthen flood control at a meeting here on Thursday.     Water resources authorities should double check the preparation work for the incoming flood season, strengthen monitoring systems and ensure the safety of major rivers and large- and medium-sized reservoirs, it said.     It also asked relevant authorities in quake zones to pay special attention to flood control and protect earthquake victims from fresh dangers.     Flood control precautions and safe water supplies in cities holding competitions for the 2008 Olympic Games in August should be ensured. It added that drought prevention work should also be listed on the agenda.     The SFDH initiated a level-three emergency response to the torrential rains that hit China over the past week causing 57 deaths.

BEIJING, July 2 (Xinhua) -- China on Wednesday pledged its support for United Nations role of safeguarding world peace and coordinating on international issues.     Chinese President Hu Jintao said in a meeting with visiting UN Secretary-General Ban Ki-moon that the UN shoulders increasingly important responsibilities for promoting world peace and development. China was a firm supporter and important partner of the UN, Hu told Ban, pledging that the country would fully participate in UN work, carry out its due responsibilities and maintain close communication and coordination with the UN.     Hu said China agreed with necessary and rational reform of the UN based on democratic consultation and would continue its cooperation with the UN as well as support for Ban's work in a responsible and constructive manner. Chinese President Hu Jintao (R) meets with UN Secretary-General Ban Ki-moon at the Great Hall of the People in Beijing, capital of China, July 2, 2008    Ban welcomed China's constructive role in significant international and regional issues.     The UN valued China's role in promoting world peace and development, Ban said, citing China's contribution to the six-party talks on the Korean Peninsular nuclear issue and development in Africa.     The UN hoped China would play a bigger role in realizing the UN millennium objective and addressing international challenges such as climate change and food security, Ban said.     He praised China's earthquake relief work and expressed his confidence that the country would host a successful Olympic Games in August.     The UN would continue to adhere to the one-China policy, Ban added.     Chinese Premier Wen Jiabao, meeting with Ban earlier on Wednesday, said China would make active efforts to reach the Millennium Development Goals (MDGs).     China would work with the international community to help other developing nations to achieve common progress and prosperity, Wen said.     Wen said all nations should increase multilateral cooperation to cope with the global food shortage by means of assistance, finance, trade and technology. China was ready to take an active part.     China fed 22 percent of the world's population using less than nine percent of the world's land. This was a contribution to global food security, Wen said.     Ban praised China's important and constructive contribution to safeguarding world peace and common development, hoping China would play a bigger role. Chinese Premier Wen Jiabao (R) shakes hands with UN Secretary-General Ban Ki-moon at Zhongnanhai in Beijing, July 2, 2008Wen also briefed Ban on China's relief and reconstruction efforts in the earthquake-hit region, and expressed gratitude for the sympathy and assistance offered by the United Nations and Ban himself after the May 12 earthquake.     Ban arrived in Beijing Tuesday afternoon for a three-day official visit to China at the invitation of the Chinese government.     The UN chief had visited the Yingxiu township in Wenchuan County to speak to earthquake survivors on May 24.

BEIJING, June 7 (Xinhua) -- China's central bank on Saturday ordered lenders to set aside more money as reserve, the fifth such move this year. It was the latest effort to enhance liquidity management in the banking sector.     The reserve-requirement ratio would be raised by 0.5 percentage points on June 15, and another 0.5 percentage points on June 25, the People's Bank of China (PBOC) said on its website.     This will bring the ratio to a record high of 17.5 percent.     The PBOC also said that corporate financial institutions in the worst quake-hit areas including Chengdu and Mianyang, would postpone carrying out the regulation. But it didn't say how long the delayed period would be.     "The rise, a further materialization of the tight monetary policy, is aimed at strengthening liquidity management in the banking system," the statement said.     "The government adopted differential monetary policies to support reconstruction in the quake-hit areas," said Peng Xingyun, a senior expert with the Chinese Academy of Social Sciences (CASS).     Zhou Xiaochuan, the central bank governor said earlier that the PBOC was to take flexible monetary policy to aid after-quake reconstruction.     The 8.0-magnitude earthquake centered on Sichuan's Wenchuan County has so far caused 206.53 billion yuan of economic losses to the industrial and mining enterprises in the quake regions.     The PBOC had raised the ratio four times previously this year. The latest was on May 12 when it lifted the ratio to a new high of16.5 percent.     Yin Jianfeng, director of the Institute of Finance and Banking with the CASS, said the move would help the country reduce inflationary pressure and to control excessive investment.     "But the move will not be as effective as the government expected because inflation nationwide mainly resulted from surging production material and food prices," he said. "A simple monetary policy will not help."     The consumer price index (CPI), the main inflation gauge, was up 8.5 percent in April from a year earlier. This was nearly equal to February's 8.7-percent rise, the most since May 1996.     Some market experts said that after-quake restoration and reconstruction would beef up fixed assets investment, and add more inflation pressure to the nation's sizzling economy.     Soaring demand for cement, steel, copper, zinc, and a luminium were expected to push up the prices of basic building materials, according to the experts.     Zuo Xiaolei, Galaxy Securities chief economist, said huge foreign exchange reserves and economy unrest in neighbouring countries had posed great pressure to China's economy. This had forced the government to adjust its economic policy before it could reach a balance.     "A great deal of hot money swarmed into China's capital market, and the PBOC aims to hedging excessive monetary liquidity," said Wu Xiaoqiu, head of the Financial and Securities Research Institute of the China Renmin University.     Wu said the government was likely to carry out more monetary policies to curb inflation and liquidity in the near future.     China adopted the tight monetary policy late last year to prevent the economy from overheating. It was also to guard against a shift from structural price rises to evident inflation. The country adhered to the policy despite a global slowdown hit by the international credit crunch.     The country's economic growth slowed in the first quarter but still reported double-digit growth. It expanded 10.6 percent, compared with 11.7 percent in the same period a year ago.

BEIJING, Aug. 4 (Xinhua) -- Chinese President Hu Jintao said here on Monday that the Chinese government and people would honor their commitment of hosting a high-level Olympic Games with distinguishing features in Beijing.     "It is also our hope that through the Games, we can show the world the sincere aspiration of the Chinese people to share the benefits of development and to join with the rest of the world in building a bright future," Hu said in a speech delivered at the opening ceremony of the 120th session of the International Olympic Committee (IOC), held in the National Center for the Performing Arts in central Beijing. Chinese President Hu Jintao addresses the opening ceremony of the 120th International Olympic Committee (IOC) session at the National Center for the Performing Arts in Beijing, China, Aug. 4, 2008. The 120th IOC session was opened here on MondayWith just four days before the opening of the 29th summer Olympics, the Chinese president expressed his "heartfelt gratitude" to IOC President Jacques Rogge and all IOC members, for their "important guidance and warm support in many ways" for Beijing during the city's bid and preparation for the Games.     Calling the Olympic Games "the largest international sports and cultural event in the world" and "a grand celebration of friendship and peace for mankind," Hu said China hoped the Beijing Games would further promote the development of the Olympic Movement, further spread the Olympic spirit, and further enhance the cooperation in sports and other fields between China and other countries and regions. Chinese top leaders Hu Jintao, Xi Jinping and Zhou Yongkang pose for a group photo with members of the International Olympic Committee (IOC) prior to the opening ceremony of the 120th IOC session in Beijing, China, Aug. 4, 2008. The 120th IOC session was opened at the National Center for the Performing Arts in Beijing on Monday.The president pointed out that the Chinese people are keen on sports, while the Chinese government has attached great importance to the development of sports and has made great efforts to improve the whole nation's physical quality and health level.     "In the last three decades of reform and opening-up, China has made not only rapid economic development and social progress, but also great achievements in sport," he noted.     Sport has played a vital role in promoting China's social and economic development, and served as a major bridge for China's exchange and cooperation with the outside world, he added.     Hu praised the modern Olympic Movement for its "outstanding contributions to the progress of world sport, the strengthening of friendship among athletes and people of the world, and the promotion of world peace and development."     The Chinese government and people would like to make contribution to the progress of the Olympic Movement and to the building of a harmonious world of perpetual peace and common prosperity, said the president.     The Beijing Olympic Games are slated to open on Friday evening in the National Stadium, dubbed the Bird's Nest, in north Beijing.

BEIJING, Aug. 19 -- China will complete the construction of its first four strategic oil reserves by the end of this year, a senior government official said yesterday.     "The progress has been smooth and all the four bases will be completed by the year end," Zhang Guobao, administrator of the National Energy Administration (NEA), said after a press conference in Beijing. "Their total capacity will amount to 16.4 million cu m."     Zhang made the comments at his first public appearance since the NEA's inauguration on Aug 8.     The administration came into being as part of the reshuffle of government agencies in March. Zhang now also holds the position of vice-minister of the National Planning and Reform Commission (NDRC), the nation's top economic planner. Two technicians check the equipments in an oil refinery of China Petroleum and Chemical Corporation (Sinopec) in Ningbo, east China's Zhejiang Province, March 29, 2008.    China started to build its strategic oil reserves in 2004, in order to fend off the risk of oil shortages and reduce the impact of oil price fluctuations. The government plans to build strategic oil reserves in three phases over 15 years, involving an estimated investment of 100 billion yuan (14.6 billion U.S. dollars).     The first four reserves, located in Dalian, Qingdao, Ningbo and Zhoushan, are expected to maintain strategic oil reserves equivalent to 30 days of imports in 2010.     The reserve in Ningbo, a coastal city in Zhejiang province, was put into operation in late 2006. It is the largest of the first four reserves, with a total storage capacity of 5.2 million cu m.     The central government is now reportedly selecting locations for the second batch of strategic oil reserves.     Cities including Tangshan and Guangzhou are understood to be vying for the projects, but Zhang declined to comment on this.     The newly established energy administration oversees the nation's oil reserves and monitors the domestic and overseas energy markets. It is also responsible for mapping out China's energy development strategy and formulating rules and regulations for the energy sector.     Renewable energy     Zhang also said yesterday that the installed capacity of wind power in the nation is expected to exceed 10 million kW by the end of this year, compared with 4.03 million kW in 2007.     The drastic increase came as the government has being promoting the use of renewable energy in the face of rising oil prices.     In recent years, the government has rolled out a host of fiscal and tax incentives to boost the development of the alternative energy sector, including a 50-percent cut in value-added tax for wind power plants.     Last year, renewable energy such as wind power, biomass and hydropower accounted for 8.5 percent of the nation's total energy use. That figure is set to increase to 10 percent in 2010 and 15 percent in 2020.     The newly established energy administration will set up more renewable energy projects to further spur the development of the sector, according to Zhang.

来源：资阳报