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BEIJING, Oct. 11 (Xinhua) -- China on Monday vowed to continue its financial support to reconstruction projects in areas ravaged by the major Wenchuan earthquake in 2008, promising lower rates on loans and demanding an easier deposit reserve requirement ratio from banks in the regions.The new pledge came in a joint statement on the website of the People's Bank of China, or the central bank, which announced the continued financial support along with the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission.Banks in the quake-hit areas should continue to provide financial support and services to reconstruction projects in the regions, as post-earthquake reconstruction is still in a critical period, the statement said.The magnitude-8.0 quake, with its epicenter in Wenchuan in southwest China's Sichuan Province, left more than 87,000 people dead or missing and more than 374,640 injured. Millions of houses were also flattened during the major quake."We should keep the continuity and stability of our financial support to the regions and make our financial services better targeted and more effective," it said.According to the statement, local banks in the quake-hit areas will continue to enjoy a lower deposit reserve requirement ratio, compared with elsewhere, until June 30, 2011, and such banks will also be exempt from any hike of the reserve requirement ratio during this period.The statement ordered local bank branches in the quake-hit areas to provide prioritized financial services to projects in fields of infrastructure facilities, agriculture, medium and small enterprises, as well as ecological and environmental protection in the region.China's central bank and banking, securities and insurance regulators encourage eligible companies in the quake-hit regions to widen their finance channels through inter-bank short-term bond issuances, bills and other financial instruments, according to the statement.Also, local banks' preferential policies on loans to home reconstruction would remain unchanged in the quake-hit regions, it said.However, loans to projects with high consumption of energy and heavy pollution must be strictly controlled in a bid to facilitate energy-savings and reduce carbon dioxide emissions in the region, according to the statement.Chinese lenders had extended 172.4 billion yuan (25.35 billion U.S. dollars) loans for relief and reconstruction in regions devastated in the earthquake by the end of the first quarter, according to the central bank's figures released in May this year.Outstanding loans at banks in quake-hit provinces, including Sichuan, Shaanxi and Gansu, surged 34 percent year on year to 2.29 trillion yuan at the end of March.

YUSHU, Qinghai, Sept. 22 (Xinhua) -- It has been six years since Zhaduo was moved away from his home on the ecologically vulnerable grassland on the Qinghai-Tibetan Plateau, but the 33-year-old said he still misses his yaks and the life of a herdsman."The money for selling 40 yaks and 25 sheep has been used," Zhaduo said. "It is so expensive to now live near the town center. Everything costs big money."Zhaduo is one of the emigrants from Rima village in Yushu County of northwest China’s Qinghai Province, near the source of China' s three major rivers - the Yangtze, the Yellow River, and the Lancang River - which form the world' s highest plateau wetland, known as Asia' s water tower.China started moving people out of the 150,000-sq-kilometer Sanjiangyuan region more than five years ago in a bid to repair the ecological system damaged by excessive herding and to transform the area into an unpopulated nature reserve.So far, some 50,000 herdsmen, mostly Tibetans, have bid farewell to the nomadic life and were moved closer to the town centers near their old homes, where they have better access to health and educational resources.Zhaduo now lives in Jiajiniang village, twelve minutes' drive from Gyegu township of Yushu. The family is surviving by picking mountain-grown caterpillar fungus.Zhaduo basically has no jobs in the months other than the harvest season from May to June, and he has no sense of security since he is relying on a business which can be bankrupt by inadequate rainfalls or abnormal climate changes."There is no way to return - the grassland is sealed off by the government and, anyway, I don' t have money to buy yaks and sheep," Zhaduo said.China' s policy makers have been urged to double their efforts to help the Sanjiangyuan emigrants adapt to the new life so the herdsmen who have no job skills do not have to be sacrificed by the massive ecological repair project.The government has earmarked 7.5 billion yuan (900 million US dollars) for the project.Li Xiaonan, deputy director of the Sanjiangyuan Ecological Preservation and Construction Office, said since efforts began to repair the wetland, it is now able to hold more water and the quality of the water has improved.The rising population, as well as overgrazing, have been blamed for the deteriorating ecosystem.Official statistics show that only 130,000 people lived in the prefectures of Guoluo and Yushu of the Sanjiangyuan region in 1949. However, the population grew five times over the past six decades.Li said the resettlement of 50,000 herdsmen is the key to improving the ecosystem, but the government will now have to find ways to provide more forms of aid, other than handing out quotas of free grain and cash subsidies to the resettled herdsmen.Additionally, the provincial government offers vocational training and has set aside funds to encourage small private businesses.Gongsangranjia is one of a few beneficiaries. He runs a Tibetan drug store near the town in the heart of Nangqian County, Yushu prefecture. Gongsangranjia and his family of ten moved out of the grassland 110 kilometers away from town some seven years ago.Since then, he sold two hundred yaks and sheep to build a spacious house and set up a drug store."The store income averages 300 to 400 yuan a day. The business is not bad," said Caiding, Gongsangranjia' s wife.Wang Hengsheng, a researcher with the Qinghai Academy of Social Sciences, said the resettlement program is not just "moving people out" but also helping them live a better life in a different environment."If they can not survive by themselves in the new environment, the Sanjiangyuan region won’t be able to achieve a long-term coordinated development of the ecosystem and the economy," Wang said.Ping Zhiqiang, an official with the provincial Development and Reform Commission of Qinghai, said the government should help resettled herdsman master a marketable trade and assist the region in developing a profitable sector. Only then can the improvement of the ecosystem be secured.

BEIJING, Nov. 2 (Xinhua) -- Chinese companies' overseas investment rose 10.4 percent year on year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.Chinese companies invested 36.3 billion U.S. dollars overseas in the first three quarters, excluding investments in financial sectors, as other other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, China's top economic planning agency, said at the opening of the 2nd China Overseas Investment Fair in Beijing.China has emerged as a major source of foreign direct investment (FDI) outflows.Although global FDI outflows dropped 40 percent year on year in 2009, China's overseas investments rose 14.2 percent year on year to 47.8 billion U.S. dollars, said Zhang.By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.The National Development and Reform Commission approved the two-day Second China Overseas Investment Fair, which the China Industrial Overseas Development and Planning Association (CIODPA) and China Development Bank are co-hosting.Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.

BEIJING, Sept. 2 (Xinhua) -- Chinese President Hu Jintao and his Ukrainian counterpart Viktor Yanukovich expressed here Thursday the willingness to lift the friendly and cooperative China-Ukraine relationship to a new level.They also promised to strive to increase two-way trade to 10 billion U.S. dollars by 2012. According to official statistics, trade between China and Ukraine topped 3.3 billion U.S. dollars in the first half of the year, up 31.3 percent year on year.The two presidents attended the signing ceremony of a dozen documents on bilateral cooperation involving such areas as official relations, finance, infrastructure development, aerospace, business, customs and quarantine, railway lines and electricity.Chinese President Hu Jintao (R) shakes hands with Ukrainian President Viktor Yanukovych during a welcoming ceremony held for Yanukovych at the Great Hall of the People in Beijing, capital of China, on Sept. 2, 2010.According to a contract signed Thursday afternoon, Chinese companies will undertake the construction of a 950-million-U.S.-dollar city rail line connecting the airport in Kiev, the capital city of Ukraine.President Hu urged the two sides to earnestly implement the cooperative projects that they have agreed upon and to actively explore new projects.Yanukovich is in Beijing for his first ever visit to China. He is also the first Ukrainian President to visit China since 2002.During the talks, Hu expressed readiness to further deepen and upgrade bilateral ties, as China has always placed importance on its relations with Ukraine, maintaining that the two sides should view bilateral ties from a strategic and long-term perspective.He expressed the readiness to work with the Ukrainian side to strengthen political dialogue and consultation through exchanges and inter-government contact.Hu said China will continue to strengthen cooperation with Ukraine in regional and international organizations to jointly promote global peace, stability and prosperity.Yanukovich said the two sides should work together to tap into the potential of bilateral strategic cooperation.He said the two sides should strengthen political dialogue, boost exchanges of high-level officials and increase exchanges between political parties and legislatures.Yanukovich expressed readiness to expand bilateral cooperation in the areas of trade, economy, investment, finance, science, technology, infrastructure development, agriculture and aerospace.Both Hu and Yanukovich said the consensus they reached during a meeting at the nuclear security summit in Washington in April added fresh impetus to bilateral ties.During his stay in Beijing, Yanukovich will also meet with top Chinese legislator Wu Bangguo and Premier Wen Jiabao.Yanukovich will fly to Shanghai Saturday to attend the 2010 World Expo.

BEIJING, Sept. 30 (Xinhua) -- A concert was held here Thursday evening to mark the 61st anniversary of the founding of the People's Republic of China, which falls on Friday.Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, attended the concert.The concert, divided into three episodes hailing China' s charm, the history of revolution, and current developments, was held in the Great Hall of the People.Other senior Chinese leaders including Liu Qi, Liu Yunshan, and Liu Yandong also attended the concert. Li Changchun (3rd R Front), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, attends a concert celebrating the National Day, which falls on Oct. 1, at the Great Hall of the People in Beijing, capital of China, Sept. 30, 2010.