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BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.

BEIJING, May 30 (Xinhua) -- A senior Communist Party of China (CPC) official has urged greater effort to promote the ideological education of the nation's college students."Continuous efforts should be made to boost college students' ideological thought to nurture qualified successors for the construction of socialism with Chinese characteristics," said Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee.Li made the remarks at a two-day meeting on the ideological education of college students, held in Beijing on Saturday and Sunday.Li Changchun (L), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with a participant before a meeting on the ideological education of college students in Beijing, China, May 29, 2010. Li said although college students' ideological education has achieved good results in recent years, it is still not meeting the needs of the nation, the Party and the expectations of the people and the needs of achieving the healthy development of the students.He urged universities to create a sound environment for students' healthy growth and to keep ideological education close to reality, life and the students.

WASHINGTON, April 21 (Xinhua) -- Powered by strong domestic demand, China's economy is expected to grow by 10 percent in 2010, said the International Monetary Fund (IMF) on Wednesday."In China, GDP growth exceeded the government's 8 percent target in 2009 and is expected to be close to 10 percent in both 2010 and 2011. What has been so far mainly a publicly driven growth path, built on infrastructure investment, is expected to turn toward stronger private consumption and investment," said the IMF in its latest World Economic Outlook report."Boosting domestic consumption will be a priority in China, through improved access to finance for small enterprises and households and stronger corporate governance and social safety nets to reduce precautionary saving," said the IMF.According to the report, in which the IMF said Asia's GDP is projected to grow by 7 percent in both 2010 and 2011, the strength in final domestic demand in China is expected to have positive spillovers for other Asian economies, particularly exporters of commodities and capital goods.In the report, the IMF said "the global recovery has evolved better than expected, with activity recovering at varying speeds, tepidly in many advanced economies but solidly in most emerging and developing economies."The world economy, which declined by 0.6 percent in 2009, will recover gradually in 2010 and 2011, growing by 4.2 percent and 4.3 percent respectively, said the IMF.

BEIJING, April 17 (Xinhua) -- Chinese Vice Premier Hui Liangyu on Saturday called for more concrete measures in quake relief efforts in response to the instructions of China's top leadership.Hui, also the head of the State Council's quake-relief headquarters, made the remarks at the sixth plenary meeting of the headquarters.China's top leadership on earlier Saturday has urged all-out efforts to rescue trapped people in the quake zone in northwestern Qinghai Province at a meeting chaired by Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, and attended by other members of the Standing Committee of the Political Bureau of the CPC Central Committee.Hui stressed a put-people-first principle in the relief work. Efforts to search for and rescue the buried survivors as well as offering medical treatment to the injured people are still the top priorities, Hui said.The relief work should be carried out in a scientific, orderly, effective and well-organized way, Hui said. There should be no "blind spot" in the rescue work and epidemic prevention, he said.Military forces, local authorities and the local people should keep in close cooperation in the relief work, he said.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.