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BEIJING, Dec. 3 (Xinhua) -- During the 11th Five-Year Plan period (2006-2010), China spent 3.26 trillion yuan on social security, an annual increase of 17.6 percent, the Ministry of Finance (MOF) told Xinhua Friday.Wang Jun, vice minister of the MOF, said in the 2006-2010 period, the social security expenditure from the central government stood at 1.4 trillion yuan (210.19 billion U.S. dollars), which was 2.1 times the expenditure in the previous five years.As the improvement of civil welfare is a crucial component of the harmonious society China is pursuing, financial authorities at all levels should continue to raise investments in social security when making the 2011 fiscal budget and plans for the 12th Five-Year Plan starting from 2011, Wang said.
BEIJING, Nov. 18 (Xinhua) -- Chinese Vice Premier Wang Qishan on Thursday agreed with U.S. Commerce Secretary Gary Faye Locke and Trade Representative Ron Kirk to enhance bilateral trade cooperation.In their latest phone talks, the two sides exchanged views on the China-U.S. economic and trade relations and other issues of common concern.They agreed to deepen communications and cooperation in order to guarantee a successful outcome of the forthcoming 21st session of the China-U.S Joint Commission on Commerce and Trade (JCCT) and lay a favorable foundation for a state visit by Chinese President Hu Jintao to the United States slated for early next year.The JCCT was established in 1983 as a platform for the two countries to promote trade relations and address issues of mutual concern. The last session was held in the eastern Chinese city of Hangzhou in October last year.
NEW DELHI, Dec. 16 (Xinhua) -- Chinese Premier Wen Jiabao and Indian Prime Minister Manmohan Singh on Thursday called for continuous efforts to enhance the friendly relations between the two countries."In the past 60 years, China and India have overcome various difficulties in making strides forward and have gained rejuvenation," said Premier Wen when attending the celebration activities of the 60th anniversary of the establishment of the diplomatic relations between China and India and the closing ceremony of the "Festival of China 2010 in India."Wen said that both sides have upheld the Five Principles of Peaceful Co-existence which they initiated together, sought good neighborliness, treated each other equally and worked for cooperation of mutual benefits, adding that these are the precious experiences obtained in the development of bilateral ties in more than half a century.The Chinese premier called on both sides to carry on the friendship generation after generation despite changes on the world arena and difficulties that may lie ahead.Wen stressed both China and India are in a key period of development, and that they should enhance political and strategic mutual trust, expand pragmatic cooperation in economy, trade and science and technology, strengthen coordination in regional and international affairs, upgrade the status and influence of developing nations, so as to make greater contributions to building a harmonious world featuring lasting peace and common prosperity.The premier meanwhile expressed his gratitude to the people on both sides who have worked hard for the success of the Festival of China in India, and wished the Indian people happiness and healthiness in the coming new year.When addressing the ceremony, Singh said China is India's biggest neighbor, and that it is a consistent diplomatic objective of India to develop ties with China.He also hailed the China-India cooperation as a cornerstone for a century of Asia, saying it also has global and strategic significance.China and India are friends, not rivals, and there is enough room in the world for China and India to develop at the same time, Singh said.He added that the two countries should jointly enhance exchanges and cooperation in a bid to make new achievements in the China-India strategic and cooperative partnership.Wen arrived here Wednesday for a three-day official visit at the invitation of Singh.
BEIJING, Jan. 18 (Xinhua) -- China on Wednesday will begin its annual Spring Festival travel rush, with an expected 2.56 billion passenger trips in the coming 40 days.Airlines and trains have been added to cope with the passenger surge, which is 11.6 percent up year on year, according to the Ministry of Transport.The airport in Harbin, capital of northeast China's Heilongjiang Province, announced Tuesday it would add another 252 flights for the travel peak period.The capacity of airlines in the Inner Mongolia Autonomous Region will be raised 30 percent.In southwest China's Chongqing Municipality, a major hometown to migrant workers, 12 flights with 5,100 seats will be added between Chongqing and Guangzhou, capital of south China's Guangdong Province.Except for the temporary trains, more high-speed trains have been put into operation for the Spring Festival.The high-speed train will be increased to 88 pairs this year, 55 more than last year's 33 pairs in Wuhan, capital of central China's Hubei Province, which largely eased the difficulties of buying tickets for passengers.Snow and sleet has struck five provincial level regions, including Hunan, Guangxi, Chongqing, Guizhou and Yunnan since Monday, disrupting transportation networks.The Ministry of Public Security Tuesday ordered police in the five hard-hit areas to go all out to keep traffic flowing and make sure no expressways were shut down due to slippery roads.Police in the five localities were ordered to clean snow and ice on the roads and store emergency response materials, such as snow blowers, and maintain control of the flow of vehicles heading to the hardest-hit Guizhou province."Snow and ice will bring great difficulties to transportation," said Weng Mengyong, vice minister of the Ministry of Transport (MOT).Five aspects of work, including anti-ice preparation, information release, monitoring network, emergency reaction and cooperation with public security bureaus, had been arranged ahead of the travel peak, Weng said.In early 2008, freezing weather across southern China caused power cuts and transportation chaos, preventing many residents from going home for family reunions during China's lunar new year.Other new services are also being supplied as the pressure of transportation is increasing this year.The Wuhan Railway Administration started ticket delivery services for migrant workers this year and about 3 million tickets will be delivered.In south China's Guangxi Zhuang Autonomous Region, the Nanjing Railway Administration opened micro-blogs on Sina.com and QQ.com to offer railway transportation information.In the next 40 days, not only passengers, but also railway crews, will face great challenges."Patrolling is like a sauna to me," said railway police Zhao Hongye in Lanzhou, capital of northwest China's Gansu Province."It is too crowded. The 18 carriages are only 450 meters long, but it takes me at least two hours to go though," Zhao said."It is the homesickness which makes the huge migration," said Li Jiwei, a college student in Lanzhou, who had been counting the hours to get on his train home."It's only 10 hours left," he said. "I cannot wait to go home. The warm of home can offset all the difficulties on the journey," he said."There is no Spring Festival if you are not at home," said Zhou Changnong, a migrant worker, heading from Xining, capital of southwest China's Qinghai Province, to his home town in central China's Hunan Province.
BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.