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BEIJING, March 24 (Xinhua) -- Chinese President Xi Jinping will meet with his U.S. counterpart Barack Obama on the sidelines of the fourth Nuclear Security Summit in Washington next week, a senior official said on Thursday.

BEIJING, Feb. 25 (Xinhua) -- A Chinese lawmaker on Thursday called for coordinated financial regulation headed by the central bank to contain systemic risk in an industry fraught with cross-sector financing products.

CPPCC:

First, we accelerated the reform of the budgetary management system. We transferred local educational surcharge and ten other items from the budgets of government-managed funds into general public budgets. We drew up management regulations for the budgets of central state capital operations, transferred more funds from such budgets into general public budgets, and established a mechanism for making transfer payments from the budgets of central government state capital operations to the budgets of local government state capital operations. We moved forward with medium-term financial planning. We made further progress in organizing and integrating special transfer payments, cutting the number of items from 150 in 2014 to 96 in 2015. We established a standardized mechanism for local governments to secure financing through bond-issuance, placed local government debt under budgetary management by category, and imposed ceilings for such debt. All local government bonds are now issued and repaid by their respective provincial governments. We enacted regulations and operational guidelines for the preparation of government financial reports, published basic principles on government accounting, and revised the general fiscal budget accounting system.

Positive reporting does not mean avoiding problems, said Tang Ji, a senior reporter with Xinhua's Inner Mongolia branch. Tang covered the wrongful conviction of an 18-year-old man named Huugjilt who was found guilty of rape and murder and executed in 1996. His reports contributed to the conviction being quashed.