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BEIJING, June 11 (Xinhua) -- Chinese police have launched crackdowns all over China to curb online soccer gambling as the 2010 World Cup kicks off in South Africa.More than 100 people have been detained for participating in online soccer gambling with more than 10 billion yuan (1.47 billion U.S. dollars) in funds involved in one case in Yuyao City, east China's Zhejiang Province, said Dong Xiaowei, deputy chief of the provincial public security bureau.More than 70 gambling groups have been cracked for online soccer gambling this year with more than 300 arrested, he said.Similar cases have been uncovered in Beijing, Chongqing, Shaanxi, Fujian and Shandong.There are about 2,000 Chinese and offshore websites for soccer gambling in China, and the membership of some websites amounts to one million, according to Public Security Ministry data.Gambling is prohibited on the Chinese mainland by law.

BEIJING, July 11 (Xinhua) -- Growth of China's foreign exchange reserves are slowing as the total reached 2.4543 trillion U.S. dollars by the end of June, up 15.1 percent year on year, the People's Bank of China (PBOC), the central bank, announced on Sunday.Statistics from the central bank show China's foreign exchange reserves increased by 7.2 billion U.S. dollars in the second quarter, a drastic decrease compared to the last quarter in 2009, when reserves grew by 126.5 billion U.S. dollars.Reserves in the first quarter increased by 47.9 billion U.S. dollars.The PBOC also said the declining euro was the major reason behind the slowing growth in foreign exchange reserves.The exchange rate between the euro and U.S. dollar had fallen by nearly 20 percent between the end of 2009 and May this year, according to the PBOC.China's basket of foreign exchange reserves include the U.S. dollar, euro, Japanese yen and others.On a monthly basis, reserves increased by 43.4 billion U.S. dollars in April followed by a reduction of 51 billion U.S. dollars in May, while June saw reserves increase by 14.8 billion U.S. dollars.China's gold reserves stood at 33.89 million ounces at the end of June, according to PBOC figures.

BEIJING, Aug. 24 (Xinhua) -- China and South Africa announced a "comprehensive strategic partnership" on Tuesday during South African President Jacob Zuma's first state visit to China.Chinese President Hu Jintao and Zuma signed the Beijing Declaration after their one-hour talk in the Great Hall of the People Tuesday afternoon, during which the two presidents praised the growth of bilateral ties and agreed to lift relations to new heights."In this new spirit of China-South Africa relations, we will work together to advance the bilateral comprehensive strategic partnership," Hu told Zuma.Hu made specific proposals that the two countries maintain close contacts between leaders, utilize cooperative mechanism to further implement bilateral cooperation documents and strengthen exchanges between ruling parties and legislatures.In the economic area, Hu hoped both sides would promote trade and investment growth, energy cooperation and optimize financial services.China and South Africa need to work together in culture, education, media, health and tourism, Hu said, bolstering more academic and research cooperation.On the multilateral front, the countries need to improve consultation and coordination to further South-to-South cooperation and tackle global challenges.

BEIJING, Aug. 1 (Xinhua) -- China provided 56,000 hectares of land for residential use in the first six months of 2010, up 135 percent over the same period last year, according to the Ministry of Land and Resources.A significant increase in the availability of land for housing was reported in areas like Guizhou Province, Beijing, Jiangxi Province, Heilongjiang Province and the Ningxia Hui Autonomous Region, said a statement on the ministry's website.The land and resources management departments at various levels have been working hard to ensure land supplies, especially for indemnificatory housing, shantytown relocation housing, public rental housing and middle-sized and small apartments, the statement said.The departments will work hard to ensure land supplies for public residential purposes, it added.China implemented a series of measures to rein in soaring home prices and curb property market speculation in April. The measures included tighter scrutiny of applications for financing, limiting of loans for third-home purchases and higher down payment for buying second-homes.Latest data indicated the red-hot property market has started cooling as average housing prices in 70 major cities fell 0.1 percent in June from May.

BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.