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BEIJING, May 28 (Xinhua) -- Lending by Chinese banks may drop to 600 billion yuan (88 billion U.S. dollars) in May as the central government winds down its stimulus program and cools the property market to prevent the economy from overheating, the Shanghai Securities News reported Friday.A fall in bank lending in May is expected after the government introduced a raft of measures to curb the skyrocketing property market in April. The measures included a ban on lending for third home purchases and increased scrutiny of developers' financing, the report said.Lu Zhengwei, an economist at Industrial Bank, estimates Chinese banks' May lending will be 450 billion yuan to 650 billion yuan, compared with 774 billion yuan in April."China has asked banks to strictly control lending to industries with overcapacity and to stop lending to new projects not in the 4-trillion-yuan stimulus package. These will be major reasons for a drop off in May lending," he said.China's banks lent 3.37 trillion yuan in the first four months of the year, about 45 percent of the government's full-year 7.5-trillion-yuan lending target.The National Bureau of Statistics is due to release major economic data for May, including new bank lending, mid-June.
BEIJING, May 17 (Xinhua) -- China's disciplinary watchdog has released a set of rules outlining punishment for Party members in leading positions meddling in the real estate industry, in an effort to uproot corruption in the field.The rules, issued by the Central Commission for Discipline Inspection of the Communist Party of China (CPC), say "meddling in construction-related fields" refers to officials abusing their power by directly or indirectly asking departments to affect construction projects' normal procedures.Such acts include meddling in projects' decision-making process, public bidding and approval of transfer of land use.The construction sector is susceptible to corruption. Many officials have stepped down after being caught colluding with business owners and real estate developers.
YUSHU, Qinghai, April 17 (Xinhua) -- Soldiers from the Chinese People's Liberation Army(PLA) have rescued 1,200 people and treated more than 8,700 injured in the quake zone as of 12:00 a.m. Saturday, according to PLA quake-relief headquarters.A spokesperson for the PLA quake-relief headquarters said in its first press conference held here that more than 12,300 soldiers had been sent to the quake zone and more than 11,300 had arrived to carry out rescue operations. Photo taken on April 17, 2010 shows a press conference held together by the Chinese People's Liberation Army (PLA) and armed police in the quake-hit township of Gyegu, northwest China's Qinghai Province, on April 17, 2010. Soldiers from the Chinese People's Liberation Army(PLA) and armed police have rescued 1,200 people and treated more than 8,700 injured in the quake zone as of 12:00 a.m. Saturday, according to PLA quake-relief headquarters.
BANGALORE, India, May 16 (Xinhua)-- A photo exhibition called "Charming Beijing" was held in Bangalore, the capital of southern India's Karnataka state on Sunday to observe the 60th anniversary of the establishment of diplomatic relations between China and India.Chinese Consul General in Mumbai Wang Donghua, Chairman of Legislative Council of Karnataka state Mattikatti, General Secretary of India-China Friendship Association Karnataka, Bhaskaran, and former Mayor of Bangolre and Ramachandra attended the the opening ceremony at Bangalore's largest art exhibition center Art Complex.Wang said the photo show, sponsored by the Chinese Embassy to India and the India-China Friendship Association, Karnatake, is part of the Chinese celebration activities in India to mark the 60th anniversary of China-India diplomatic relations."After establishing the diplomatic relations between India and China 60 years ago, we are able to have a friendly relation. In these years, the Chinese people were keeping very good relations with the Indian people, India became the largest partner of China in Asia, many Chinese people are visiting in Karnataka and Bangalore," said Bhaskaran.The general secretary said he believed the 21st century belonged to India and China, there is no force on the earth to stop the trend.At noon, many visitors crowded into the exhibition hall to enjoy the photoes featuring Bird's Nest, Water Cube, modern international airports, modern overpasses, the Great Wall, the Forbidden City, the Summer Palace, kite of long dragon, Hutong tour and Beijing opera.The photo exhibition in the "Silicon Valley of India" will last till May 20. The phote show was held to let more Indian know more about China's capital Beijing and to promote the mutual understanding and cooperation of the people in two counties, said the general secretary.
PARIS, April 27 (Xinhua) -- French President Nicolas Sarkozy on Tuesday described this year's World Expo theme of "Better City, Better Life" as a bold and lucid choice focused on a significant challenge for the future.The president is scheduled to visit China on April 28-30 with stops at Xi'an, Beijing and Shanghai, where the exposition will be held from May 1 to Oct. 31."Taking the theme 'Better City, Better Life', you have chosen to make the 2010 Shanghai Expo an event resolutely focused toward the future," Sarkozy told Xinhua in an interview.He said, while the number of city dwellers continued to grow across the world and issues related to urban development became more and more significant, many problems needed to be solved. So China's choice of "Better City, Better Life" was appropriate."I pay tribute to the organizers of the 2010 Shanghai Expo who have made a lucid and bold choice," he said.Sarkozy said France was one of the firm supporters of Shanghai's candidacy for the exposition and was the first country to have promised to participate in the event."The choice of China and the choice of Shanghai, were something very important for us; that is the reason why I wanted to personally attend the opening ceremony," he said.The president said China has made great efforts to make the expo "a huge success."Sarkozy said the design and display in the France pavilion would reflect a real, colorful, confident and open France.