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BEIJING, June 19 (Xinhua) -- China's top economic planner announced Thursday night the country will raise the prices of gasoline, diesel oil, aviation kerosene and electricity, revealing an unprecedented broad plan to raise energy prices. Beginning Friday, the benchmark gasoline and diesel oil retail prices will be marked up by 1,000 yuan (144.9 U.S. dollars) per tonne, with the price of aviation kerosene up by 1,500 yuan per tonne. The prices of natural gas and liquefied petroleum gas, however, would be left unchanged, according to the National Development and Reform Commission (NDRC). The benchmark retail prices of gasoline and diesel oil would be lifted to 6,980 yuan and 6,520 yuan per tonne, up more than 16 percent and 18 percent respectively. The price rises also translate into mark-ups of 0.8 yuan and 0.92 yuan per liter, the measurement used at service stations in China, for gasoline and diesel oil respectively. The commission said the oil price adjustment was made to ensure supplies in the country by diminishing the gap between continuously rising international crude prices, especially since February, and state-set domestic oil prices. Crude oil price on the international market reached above 136 U.S. dollars per barrel on Wednesday, up more than 45 percent from the price when the country raised oil prices in November last year. An employee changes the cards showing the prices of refined oil at a gas station in Beijing on the early morning of June 20, 2008The government-controlled oil prices on domestic market should be blamed for a shortfall of supplies, as some refineries stopped or cut back on processing to avoid losses, said an unidentified NDRC official. The commission said more subsidies would be offered to farmers, public transport, low-income families and taxi drivers to cushion the crunch of price rises. For instance, farmers would get five yuan per mu (1/15 hectare)of farmland in extra subsidy; low-income families in cities would get an extra 15 yuan for each person every month starting from July, 10 yuan for such rural families. The commission said fares for passenger travel by rail, urban and rural public transport and taxis would remain unchanged after the rise. The official did not comment on the impact of oil price rises on the inflation rate, which eased to 7.7 percent in May. In April, it rose 8.5 percent after a 12-year high of 8.7 percent in February. The commission also said the average electricity tariff will be raised by 2.5 cents per kwh starting from July 1, up 4.7 percent on average. It said the price rise was made in response to rising costs of the country's power plants, including rising power-coal prices, increased costs on desulphuration facilities and investment in grid upgrading. More than 80 percent of all the power generation companies suffered losses in the January-May period due to power-coal price rises. Official statistics showed that power coal prices went up by more than 80 yuan per tonne in the past two years. The prices had gone up by 60 yuan since the beginning of the year. The commission also announced the country would exercise temporary price intervention on power coal as of Dec. 31, and power coal prices are capped below the price on June 19. The policy was adopted as the commission expected the power-coal price to rise further because of the gap between domestic and international prices and tight supplies. The commission also said urban and rural residents and sectors of farming and fertilizer production, as well as the quake-hit provinces of Sichuan, Shaanxi and Gansu, will be exempt from the price rise. Industrial and commercial undertakings, however, would only see limited impact, as power expenses usually account for a small portion of their total costs, it said. "The price rise in electricity would not have a fundamental impact on the country's inflation rate," said the NDRC official.
WASHINGTON, Oct. 11 (Xinhua) -- Deputy Governor of the People's Bank of China Yi Gang called for international cooperation here on Saturday to restore global financial stability. "Our current priority is to enhance international cooperation to prevent further deterioration and spillover of the crisis and restore global economic and financial stability," Yi said. The deepening and widening of the U.S. financial crisis have triggered a major global slowdown and escalating uncertainty, Yi Gang said in a statement at the 18th meeting of the International Monetary and Financial Committee (IMFC) held here Saturday. While the advanced economies have slowed significantly since the U.S. sub-prime crisis, the emerging market economies have maintained robust growth but the deteriorating external environment is putting the resilience of their macroeconomic policies to the test, he said. The crisis has underscored shortcomings in the financial markets, Yi said. He expressed his hope that the stabilizing measures of the advanced economies will have the positive effect of calming the markets and restoring confidence. "China is willing to strengthen its cooperation with other countries and, through such joint efforts, we hope global financial stability can be safeguarded," he said. In line with their status, Yi said, the major reserve currency issuing countries should shoulder the responsibility for preventing further spillovers and minimizing shocks to other economies -- especially to the emerging markets. To promote balanced and steady global growth over the longer term, efforts should be made to advance structural reforms and increase savings, he pointed out. The International Monetary Fund -- at the core of the international monetary system -- should carry out its mandate to safeguard global economic and financial stability, he said. The IMFC is the steering committee of the 185-nation lending institution. Yi also noted that as the impact of the crisis on the real economy is much worse than expected and the recovery more protracted and difficult, the risks of deflation in some countries as a result of the credit crunch have increased significantly. "It is imperative that the major advanced economies coordinate rapid implementation of bailout packages to avoid deflation and facilitate the global recovery," said Yi. "However, we should be aware that the injection of liquidity from these emergency measures could be a potential source of inflation in the medium and long term," the deputy governor said.
BEIJING, Sept. 6 (Xinhua) -- With a dazzling and emotional show that highlighted the value, dignity and dream of life, the Beijing 2008 Paralympic Games opened in the Chinese capital on Saturday night, rallying the world under one shared dream of "transcendence, integration and equality" for the disabled. "Ge Jiu Ge Wei (ready), Yu Bei (set) ... " At the order given in Chinese by International Paralympic Committee (IPC) President Philip Craven, nearly 100,000 spectators in the National Stadium, or the Bird's Nest, in north Beijing, clapped their hands simultaneously to give a unique and resounding "go" signal to the world's premier sporting event for elite athletes with disabilities.Photo taken on Sept. 6, 2008 shows the general view of the opening ceremony of the Beijing 2008 Paralympic Games in the National Stadium in Beijing, ChinaA record 4,000-plus athletes from 147 countries and regions, 10 times the figure at the Games' debut in Rome 1960, marched into the stadium amid thundering cheers from the stands, before Chinese President Hu Jintao declared the Games open at 22:36 Beijing time. "These Games will have more athletes, more competing nations, and more sporting events than ever before," said Philip Craven in his opening ceremony speech, calling them "milestones in Paralympic history." The three-hour ceremony climaxed when Hou Bin, China's triple Paralympic high jump champion with only one leg, lit the cauldron for the Games.Fireworks are displayed at the opening ceremony of the Beijing 2008 Paralympic Games held in the National Stadium in Beijing, China, Sept. 6, 2008With the torch on his wheelchair, the 33-year-old Hou used both hands to pull himself up along a hanging rope to the rim of the steel-latticed Bird's Nest to accomplish his laborious mission. Though suspended by wires, he had to halt and gasp for several times, with the entire crowd cheering him on loudly. The Paralympic flame, first lit at the 600-year-old Temple of Heaven in south Beijing on Aug. 28, was relayed through 11 Chinese cities -- including ancient capitals Xi'an and Luoyang and modern metropolises Shanghai and Shenzhen -- in nine days, covering a distance of 13,181 kilometers and involving 850 torchbearers.Fireworks are displayed during the opening ceremony of the Beijing 2008 Paralympic Games in the National Stadium, also known as the Bird’s Nest, in Beijing, China, Sept. 6, 2008. Shortly before the cauldron was set ablaze, the IPC flag, which carries the IPC logo of red, blue and green curves -- a new design adopted just in 2003 and used at a Paralympics for the first time, was escorted into the stadium by a team of eight Chinese Paralympic gold medalists, and hoisted next to the Chinese national flag. On behalf of all athletes and officials, Chinese athlete Wu Chunmiao and goalball referee Hao Guohua, holding a corner of the IPC flag, took the Paralympic oath, vowing to keep the Games competition fair and clean. "Over the next 11 days, the heroines and heroes will undoubtedly be the athletes," said the IPC president. The Paralympians, many in wheelchairs or on crutches and often seen supporting each other on the track, were ushered into the stadium minutes after the opening ceremony began at 20:00 Beijing time sharp. All smiling broadly, they waved hands, hats and flags to the stands, and posed for pictures with team guides or volunteers.
CHENGDU, May 16 (Xinhua) -- Rescue operation and disaster relief for victims in the worst earthquake over decades are of top priority of the nation, and thus require concerted efforts from the whole country, Chinese Premier Wen Jiabao said Thursday night. Monday's 7.8-magnitude earthquake that ravaged southwestern Sichuan Province and was felt in most parts of the country was the "most destructive" tremor and had the "most wide-spreading impact" since New China was founded in 1949, Wen said on a meeting of the rescue headquarters under the State Council headed by himself. Chinese Premier Wen Jiabao (L) comforts local people in Muyu Township, Qingchuan County, southwest China's Sichuan Province May 15, 2008. Qingchuan County is one of the worst-hit areas in Sichuan Province. Premier Wen is here to oversee rescue work and visit survivors.It was even more powerful than the Tangshan earthquake in 1976,Wen said. The catastrophe in northern Hebei Province claimed about240,000 lives three decades ago. He hailed the efficiency and order the country has maintained for the past 80 hours as the country focused its resources on saving lives and disaster relief work for quake victims. He said the government will stick to its "people-first" policy in its future rescue operations and reconstruction works. A mother deadly cries after knowing her child lost life in the devastating earthquake in Sichuan Province May 15, 2008. "Saving lives is still our top priority, as long as hope of survival still exists," Wen said, urging that social stability to be maintained. He warned relevant authorities to pay special attention to the prevention of plagues. He said supplies of food, medicines, and tents must be ensured. More than 50,000 people are feared dead in Sichuan alone after Monday's earthquake, with confirmed death toll in the province hitting 19,509 by Thursday afternoon.
BEIJING, Sept. 1 (Xinhua) -- Along with more than 3,000 teachers and students, Premier Wen Jiabao attended the opening of a temporary middle school in southwest China's quake zone as the new semester started on Monday. Beichuan Middle School was among the hardest-hit schools in the May 12 earthquake. Wen visited students and teachers at the school three times prior to the Monday event. Chinese Premier Wen Jiabao (R front) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008. A new semester started on Monday. Following the flag raising and national anthem, Wen said: "Students and teachers, it's been exactly 110 days since the May 12 earthquake. Beichuan survives, and the Beichuan Middle School survives. We stand on our own feet, tough and unafraid. "The quake brought considerable misfortunes, and it brought experience and strength, too. Now we know one thing, and it's that as long as we choose to confront adversity with courage, we will surely overcome any disaster. "As we hold this ceremony, we can never forget the students and teachers who died in the disaster ... I hope all of you at the school will win respect and pride with hard work and tough spirits. I believe you can do it." The temporary Beichuan Middle School is located in the courtyard of the Changhong training center in Sichuan's Mianyang City. Chinese Premier Wen Jiabao (4th L) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008 Upon departure, Wen told teacher Li Jun to give his best regards to those of Li's students who took this year's college entrance exams in tents. Among the 69 students in Li's class, more than 50 went to college. The May 12 earthquake killed more than 69,000 people with nearly 18,000 still missing. Chinese Premier Wen Jiabao (L front) attends the opening of the temporary site of Beichuan Middle School located in the courtyard of the Changhong training center in Mianyang, China's quake-hit Sichuan Province, Sept. 1, 2008Meanwhile, a 6.1-magnitude tremor on Saturday forced the suspension of classes at some primary and middle schools in Sichuan and neighboring Yunnan Province. At least 40 people were killed. The municipal government of hard-hit Panzhihua City, Sichuan announced on Monday that schools and kindergartens would not open for another week