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BEIJING, Oct. 20 (Xinhua) -- China must improve the quality, accuracy and credibility of statistics to better serve the country's social and economic development, said Chinese Vice Premier Li Keqiang in a letter addressed to a ceremony on Wednesday in Shanghai marking the first World Statistics Day.A relatively standardized modern statistics system that conforms to China's national conditions and international standards have basically taken shape in China, according to the letter received by Xinhua on Wednesday.Li said that as China will soon enter into the 12th five-year development period (2011-2015), it must push forward the development and reform of statistics gathering to provide accurate and comprehensive information in a timely way.Li also said the Chinese government will continue to strengthen international exchanges and cooperation in the realm of statistics.The World Statistics Day, initiated by the United Nations, aims to promote knowledge about statistics among the public.

HANGZHOU, Sept. 24 (Xinhua) -- He Hongwei, a college graduate living in central eastern China's Zhejiang Province, five years ago fussed over landing a decent job amid red-hot competition in the world' s most crowded job market.He then began selling novelty toys on the Internet. Five years on, he has grown into a billionaire and today is busy seeking employees to work in his own factory."I never thought I would make my fortune on the Internet, starting from scratch," the 35-year-old He said.Several years ago, e-shopping was only a "shelter" for many young Chinese who turned to the Internet marketplace to make their living after failing to find decent jobs offline. Most of them earned only paper-thin profits, as e-commerce in China then was still in its infancy.He's story, however, reflected a trend that e-business in China was no longer merely a way of survival, but has become an incubator for the newly-rich who had not expected they could make their fortunes online.According to a report released by Alibaba.com earlier this month, China's largest Nasdaq-listed e-commerce company, some 77 million Chinese individuals and businesses have opened E-shops as of the end of this June.Further, the number of e-shoppers has reached 142 million, or one-third of the nation's total online population.Retail sales at e-shops more than tripled between 2007 and 2009, much faster than the 18 percent growth of retail sales in general during the same period. In the first half of this year, retail sales of e-businesses more than doubled to 211.8 billion yuan (31.6 billion U.S. dollars).Booming sales helped entrepreneurs with e-business start-ups live decent lives, as more than 1 million e-shops at Taobao.com, China's largest online marketplace, earn profits of at least 2,000 yuan a month.As their businesses grow larger, more shops reported profits of over 10 million yuan a year. Sheng Zhenzhong, senior analyst with the research center of Taobao.com, declined to disclose how many such shops were listed on Taobao, but said the number is steadily rising.INTEGRITYAs an old Chinese saying goes, free traders are not bad, which means businessmen should cheat to stay competitive.The old tenet used to work in the early 1980s' when the market economy was initially practiced in China and many businessmen profited from selling shoddy goods.But that could hardly be the case in today's online market, as integrity has become the most important traits for the Internet's commercial success in China.Shi Hongwei is a wholesaler of stockings at Taobao.com. He sells more than 2,000 pairs of socks everyday. For Shi, a young e-shop owner, this is quite a big deal. But, what he cares about most is the rating feedback from his customers.

BEIJING, Nov. 8 (Xinhua) -- Chinese stocks rose for a third straight trading day Monday with the benchmark Shanghai Composite Index closing up 0.96 percent, or 30.01 points, at 3,159.51.The Shenzhen Component Index gained 0.54 percent, or 73.94 points, to finish at 13,807.3.Combined turnover declined to 453.1 billion yuan (68 billion U.S. dollars) from 459.17 billion yuan the previous trading day.Gainers outnumbered losers 743 to 132 in Shanghai and 950 to 140 in Shenzhen.Agricultural shares led the gains with a 5.39 percent rise amid increased inflation expectations and surging farm product prices.Some economists believe China's consumer price index (CPI), the main gauge of inflation, jumped 4 percent year on year in October.Yasheng Industrial Group, Yongan Forestry Group and Fengle Seed Company all rose by the daily limit of 10 percent, ending at 6.47 yuan, 12.84 yuan and 20.77 yuan, respectively.Local stocks in Shanghai continued their surge after Walt Disney Co. inked a deal Friday for its long-awaited theme park in the city.Shanghai Lujiazui Finance and Trade Zone Development Co., Ltd rose 4.8 percent to 22.7 yuan while Shanghai Pudong Road and Bridge Construction Co. Ltd. gained 3.08 percent to finish at 20.43 yuan.Yu Wei, an analyst at Shiji Investment, said more "hot money" will flow into Chinese capital markets because of the U.S. Federal Reserve's second round of quantitative easing, QE2."As the government works on controlling inflation and the property market, the A-share market will be the most attractive place for 'hot money' inflows," he said.

BEIJING, Aug. 31 (Xinhua) -- China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.Ye Yanfei, deputy head of the Statistics Department of the China Banking Regulatory Commission (CBRC), said the CBRC will restrain speculative property investment and support the building of affordable housing while controlling risk.China's housing market and lending to the property sector are crucial to the national economy and people's livelihood, as well as to the stable and steady development of the nation's banking sector, Ye said at a seminar in Beijing.Ye's remarks come after the banking regulator said it would further "instruct and monitor" commercial banks' efforts to strengthen the management of lending to home-buyers.Ye's comments echo those of Zhang Ping, director of the National Development and Reform Commission, who said last Thursday in a report to China's top legislature the government will "further implement the measures meant to curb excessive gains in housing prices and resolutely restrain speculative property investment in the second half the year."Ye also said the CBRC has pushed lenders to test the impact of falling house prices, although the regulator said earlier that hypothetical scenarios examined in stress tests do not herald any change in policyHousing prices in major Chinese cities rose 10.3 percent year on year in July, slower than the 11.4 percent growth rate in June, according to official figures.On a monthly basis, housing prices in June fell 0.1 percent from May and July prices were unchanged from June.

BEIJING, Sept. 13 (Xinhua) -- Chinese Vice Premier Li Keqiang Monday called for international cooperation to deal with economic challenges and achieve common development.Li made the remarks at a seminar here marking the 30th anniversary of China's cooperation with the World Bank. During his speech he urged nations to continue opening markets while removing trade and technology barriers.Li reiterated China's stance on opening up and reform, pledging the country would continue to import advanced technologies, equipment, experience, talent and capital while creating a fair business environment for all enterprises.Chinese Vice Premier Li Keqiang addresses the Conference ot the 30th Anniversary of China-World Bank Cooperation in Beijing, Sept. 13, 2010.China would protect intellectual property and grant foreign-funded companies equal treatment, Li added.He also said China would step up the transformation of economic growth mode, which would rely on the nation's opening up and institutional reforms.Li praised the World Bank's efforts on reducing poverty and said China would continue to support the World Bank to make new contributions to world development and prosperity.