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BEIJING, Aug. 18 (Xinhua) -- Chinese President Hu Jintao met here Wednesday with Singapore President S.R. Nathan. They praised the development of bilateral ties and pledged to further cooperation."We attach great importance to the relations with Singapore," Hu told Nathan during the meeting at the Great Hall of the People, saying that China-Singapore relations had witnessed remarkable development since the two forged diplomatic ties 20 years ago."We applaud Singapore's adherence to the one-China policy and its support to our national reunification," Hu said.Hu said that China would work with Singapore to enhance political mutual trust and actively carry out the China-Singapore and China-ASEAN (the Association of Southeast Asian Nations) free trade agreements.He also expressed his hope that the two nations would increase bilateral cooperation in the high-tech and human resources sectors to achieve mutually successful results and common development.Nathan said China's economic growth was conducive to Singapore and the region at large. He welcomed more Chinese businesses to invest in his country and conduct mutually beneficial cooperation.The two presidents spoke highly of the development of the Suzhou Industrial Park and the Tianjin Eco-City in China as landmark projects of China-Singapore cooperation.Speaking on behalf of the Singaporean government and people, Nathan extended his sympathy to the Chinese people in the mudslide-hit areas in Zhouqu County in Gansu.
BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.

BEIJING, Aug. 8 (Xinhua) -- A total of 600 soldiers with the Lanzhou Military Area Command have arrived at mudslides-devastated Zhouqu county in northwest China's Gansu Province, and started relief work.Three other detachments consisting of more than 1,700 soldiers with the command as well as a 180-member medical team are on their way to the affected areas.Six helicopters, including four from the Lanzhou command and two from the Xinjiang Military Area Command, have also departed for the affected areas.China's armed police have also sent 2,100 members to help with the relief work, with 740 of them having arrived at the scene.
BEIJING, July 21 (Xinhua) -- Rain-triggered floods left 273 people dead and 218 missing since rainstorms struck south China on July 1, latest figures from the Ministry of Civil Affairs show; up from the 146 deaths reported on July 16.As of 4:00 p.m. Wednesday, about 58 million people in 11 provinces and Chongqing Municipality had been affected by the floods, with 3 million being evacuated and resettled, according to a statement released Wednesday by the ministry.A total of 330,000 homes and some 4 million hectares of crops have also been destroyed.Also, economic losses were estimated at about 58.27 billion yuan (8.53 billion U.S. dollars), the statement said.Additionally on Wednesday, the Ministry of Finance and the Ministry of Civil Affairs earmarked 329 million yuan for disaster relief in the flood-hit provinces of Sichuan, Shaanxi, Jiangxi and Hubei and the municipality of Chongqing.The funds will be used for the evacuation and resettlement efforts, reconstruction and death gratuities, said the statement.The previous relief funds of 370 million yuan was allocated to the provinces of Anhui, Hubei, Hunan, Guizhou and Yunnan, and Chongqing Municipality on July 16.Also on Wednesday, the Organization Department of the Communist Party of China (CPC) Central Committee allocated 5.5 million yuan "special membership fees" for disaster relief in the provinces of Hubei, Anhui, Zhejiang, Yunnan and the municipality of Chongqing.Earlier Wednesday, the Chinese government revealed that torrential rains and floods, the worst in a decade, have claimed the lives of 701 people and left 347 missing in China since the beginning of the year.Liu Ning, vice minister of Water Resources, warned that floods, mud-flooding and landslides would likely continue to plague some areas in Hainan, Guangdong, and Guangxi with landfall of a severe tropical storm, named Chanthu, on Thursday.
BEIJING, Aug.1 (Xinhua) -- The People's Bank of China, China's central bank, has asked its branches to effectively implement a moderately loose monetary policy in the second half of the year.The bank urged maintaining the continuity and stability of monetary policies while making them more targeted and flexible, according to a statement on the bank's website after a meeting with branch presidents.It also urged adhering to the policy of striking a balance between keeping stable and relatively fast economic growth, adjusting the economic structure and managing inflation expectations.It asked its branches to stick to its annual lending target while maintaining market liquidity at a reasonable level.Housing loan policies should be strictly implemented to ensure the stable and healthy development of China's real estate market, the statement said.h China's monetary policy should be more proactive, targeted and effective, the statement added.The central bank has set a target to keep the country's new bank lending to below 7.5-trillion-yuan (1.1 trillion U.S. dollars) in 2010.In the first half of the year, China's new yuan-denominated lending hit 4.63 trillion yuan, down 2.74 trillion yuan from the same period last year.
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