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BEIJING, Dec. 24 (Xinhua) -- Renowned China economist Li Yining said Saturday that adjusting the structure of China's economy is a "matter of life and death" while the structure of GDP is more important than its size.The focus of the country's economic structure adjustment now should be transforming the dual structure in the urban and rural economy, which causes the widening income gaps between urban and rural residents, Li said at the China Economic Forum.He also noted that the key to stimulating domestic demand is to raise the workers' wages.With the external demand waned, the Chinese government has attempted to turn to domestic consumers to take up the slack. The country vows to expand domestic demand next year and increase residents' income, especially for disadvantaged groups.However, Li said raising household income is not enough and the government also needs to improve its social security system as well as increase construction of affordable houses and public rental houses.The country plans to begin construction or renovation on at least 7 million housing units for low-income groups next year, Minister of Housing and Urban-Rural Development Jiang Weixin said Friday.
BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified Foreign Institutional Investors (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.The move is expected to widen the investment channel of overseas RMB funds and add new momentum to the country's bid to make the RMB an international currency.Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the rules jointly released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity funds should account for no more than 20 percent.The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.It will also help diversify investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.The RMB is not fully convertible under the capital account but China has stepped up efforts to make the currency more international over the past few years.The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.

BEIJING, Dec. 25 (Xinhuanet) -- China is likely to test a new Internet protocol in the next few years in an attempt to further develop the country's Internet, senior officials from the State Council said on Friday.The country will put the Internet Protocol version 6 (IPv6)-based network into small-scale commercial pilot use by the end of 2013, and deploy and commercialize the IPv6-based network on a large scale between 2014 and 2015, according to a statement released after an executive meeting of the State Council that was presided over by Premier Wen Jiabao."The development of IPv6 is one of the most important tasks for China's Internet industry during the 12th Five-Year Plan period, from 2011 to 2015," said Hu Qiheng, director-general of the Internet Society of China.Analysts believe the transition from the latest Internet protocol, IPv4, to IPv6 is irreversible. This year, the pool of Internet addresses in IPv4 has come close to being tapped out, and the supply of domain names has run short.Compared with IPv4, IPv6 will offer more IP addresses and, for that reason, more devices will be able to connect directly to the Internet, said Microsoft Corp, one of the main technical supporters of IPv6.By 2010, China had about 278 million IPv4 addresses, according to data from the China Internet Network Information Center. That was far fewer than the 450 million Internet users who live in the country."This is the first time the government has issued a schedule for IPv6 development, and it will benefit the entire industry," said Chen Qi, deputy general manager of BII Group Holding Ltd, an IPv6 service provider based in Beijing.IPv6 will enable telecommunication operators to allocate more IP addresses to their clients and will probably bring more users to those operators, Chen said.Five Chinese telecommunications carriers, including China Telecom Corp and China Mobile Ltd, had established IPv6 networks as early as 2006, the New York Times reported.China will need "far too many" IPv6 addresses in the coming years, according to Paul Wilson, director general of Asia Pacific Network Information Center, an organization responsible for allocating IP addresses.The profits made by Chinese manufacturers of telecommunications equipment, such as Huawei Technologies Co Ltd and ZTE Corporation, will also increase, a result partly of a rise in the demand for routers and Internet switches, Chen said.China launched the construction of the next-generation Internet in 2003, featuring the IPv6 network as a key technology. Even though IPv6 has not been put into commercial use, Chinese universities are among the first institutions to connect to IPv6.
BEIJING, Nov. 13 (Xinhua) -- China has established an operation committee for management of the country's first space lab module, Tiangong-1, during its two-year orbit of earth.The committee will deal with operations planning, technical appraisal and flight control of the target orbiter after the unmanned Shenzhou-8 spacecraft returns to earth after its mission, the official website of China's manned space program said.The Tiangong-1 space lab module was launched on Sept. 29 and docked with Shenzhou-8 precisely on Nov. 3, China's first ever space docking attempt. The second docking between Tiangong-1 and Shenzhou-8 is scheduled for Nov. 14.The manned space program said earlier that the same target orbiter Tiangong-1 will accommodate another two docking missions performed by two other Shenzhou spaceships, at least one of which will be manned.The 8.5-tonne Tiangong-1 is the first space lab module that China has built, and the committee will also be the first in taking care of a long-running space asset.The operation committee for Tiangong-1 heralds China's manned space program entering a new phase for lengthy flight missions, Niu Hongguang, director of the operation committee, said on the website www.cmse.gov.cn.The orbiting module management will include taking care of the space lab, making preparations for any further docking tests and gathering experience for building a future space station, Niu said.
SAN FRANCISCO, Dec. 8 (Xinhua) -- Twitter on Thursday started to roll out a major redesign of its interface in hopes of simplifying users' experience, as well as new brand pages to strengthen its relationship with advertisers.During a press conference at its new headquarters in San Francisco, Twitter Chief Executive Officer Dick Costolo and co- founder Jack Dorsey unveiled a whole new look of the social networking and microblogging service.According to an introduction video, the new homepage features profile on the left and the timeline on the right, which are flipped from the current positions and take less space than they used to.Three new buttons were also introduced as "Home," "Connect" and "Discover." "Connect" shows users who has mentioned them and suggests some accounts they might want to follow. "When you use Discover, you'll see results reflecting your interests -- based on your current location, what you follow and what's happening in the world," said Twitter.The overhauled interface is only available to a small group of users at first and will be rolled out to all users over the coming months. It will also remain consistent across Twitter's official mobile apps. Twitter has launched a page fly.twitter.com to explain all the changes.Along with the introduction of the redesign, Twitter also announced new brand pages on its platform. A total of 21 brand partners will be included in the initial launch, such as American Express, Best Buy, Bing, Coca-Cola, HP, Disney and Nike.Analysts said Twitter has ambitions to compete with similar brand pages from Facebook and Google+. According to eMarketer, Twitter's global advertising revenue is expected to reach 139.5 million U.S. dollars this year and approach 400 million dollars in 2013.
来源:资阳报