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BEIJING, Sept. 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, announced Friday it would continue the country's moderately easy monetary policy while making it better-targeted and more flexible in the coming months of this year.The PBOC made the announcement in its report on China's financial stability, which was released on the PBOC's website.The PBOC said in the next stage it needs to skillfully handle the relationship between maintaining steady and rapid economic development, restructuring the economy and managing inflation expectations.Chinese banks should continue supporting the country's economic restructuring, guard against risks, change profit structures, and improve the capital replenishing and restriction mechanism, the central bank said in the announcement.The announcement noted that local government debt was rising quickly, corporate liquidity was decreasing with a high current debt ratio, and credit card advances were increasing despite mounting financial assets held by residents and the low debt level.It said the global financial crisis had revealed limitations and gaps in the existing regulatory system. To prevent systemic risks, the central bank would combine macro and micro-prudential supervision in its policy package.
ZHOUQU, Gansu, Aug. 27 (Xinhua) -- Authorities are set to drain stagnant water by the end of the month which continues to submerge part of a remote mountainous town in northwest China's Gansu Province. This comes three weeks after a devastating mudslide left more than 1,700 people dead or missing, a senior military official said Friday.For weeks, soldiers and work crews have been using explosives and excavators to remove the massive debris and rocks that were swept down by the mudslide into the waterway and formed a barrier lake, flooding the riverside areas of Chengguan Township, Zhouqu County.People's Liberation Army Deputy Chief of Staff Zhang Qinsheng, who also serves as the deputy head of the work group for Zhouqu relief under the State Council, announced Friday that the deadline for removing stagnant water is 12 p.m. August 30, and rescue crews are working hard to meet the deadline.Experts have warned that the stagnant water -- at some point rising high enough to completely submerge a street light pole -- would rot the foundations of 80 flooded buildings and caused them to collapse. The water also posed a serious threat to public health, as it was an easy breeding ground for mosquitoes and bacteria.Meanwhile, the government of Zhouqu on Friday ordered the sludge-covered area of the mudslide to be sealed off for both safety and health reasons.This came five days after authorities banned the recovery of bodies in the hard-hit area -- about five kilometers long and 300 to 500 meters wide, at the foot of Sanyanyu Mountain.An avalanche of rocks and mud roared down the Sanyanyu mountain slope at midnight on Aug. 7, leaving 1,456 dead and 309 missing as of Aug. 27. The bodies of the missing, along with an undetermined number of animals, were believed to be buried under the meters-deep sludge.Soldiers have dug a water channel in the sludge-covered area to direct waters into the Bailong River. The mud and debris were carried away and dumped at farmlands outside the town properof Zhouqu. However, they might be stopped from continuing and leave the devastated hard-hit area untouched. Authorities are looking for new areas to settle homeless residents who are now housed in disaster relief tents."No dumping sites can be found for the sludge if the clearing efforts continue. Also, the site sits in an area where mudslides frequently occur. It is not suitable for reconstruction," said a directive issued by the Zhouqu county government. Before the disaster, the county seat, hit by the mudslide, had about 45,000 residents. Nearly half of them lost their homes in the disaster.

BEIJING, Nov. 5 (Xinhua) -- Chinese Vice Premier Wang Qishan on Friday called on China and the United States to strengthen economic cooperation and avoid politicizing economic issues. Wang made the remarks while meeting with Wendell P. Weeks, chairman and chief executive officer of Corning Incorporated, a large manufacturer of specialty glass and ceramics.Wang welcomed Corning's continued investment expansion in China, saying the economies of China and the U.S. were interdependent and highly complementary. Chinese Vice Premier Wang Qishan (R) meets with Wendell P. Weeks, chairman and CEO of Corning Incorporated, in Beijing, capital of China, Nov. 5, 2010.He called on the two sides to step up economic cooperation and make joint efforts to build a positive, cooperative and comprehensive Sino-U.S. relationship for the 21st century.Weeks expressed Corning's willingness to further cooperation with China.Later Friday, Wang also met with Josef Ackermann, chairman of the Management Board and the Group Executive Committee of the Deutsche Bank.During their meeting, the two sides exchanged views on the current international economic and financial situation as well as the reform of international financial supervision and regulation.
BEIJING, Sept. 21 (Xinhua) -- Chinese Vice Premier Li Keqiang said Tuesday that China would coordinate its national family planning policy, stabilizing an appropriately low birth rate and improving the quality of its population."The fact remains that China has a large population. The issue of population is always a major issue for China's social and economic development," said Li at a seminar marking the 30th anniversary of the Family Planning Association of China in Beijing.The government must solve the issue in a way that takes into consideration the whole picture of China's long-term social and economic development, he said.Chinese government statistics show China's population stood at 1.32 billion at the end of 2008, which was about 2.5 times the number in 1949 when the People's Republic of China was founded.The Chinese government adopted a family planning policy in the late 1970s which basically permits most urban households to have only one child.The policy had helped China's total population increase less than 40 percent between 1978 and 2008, whereas it nearly doubled between 1949 and 1978.Li said the government would make efforts to improve the quality of the population, optimize the population structure and spur the rational distribution of the people, so as to turn the pressure of the population into an advantage of human resources.He also said the government would launch measures to narrow the widening ratio of men to women and address problems arising with an aging population.The population aged at or above 60-years-old will top 200 million by the end of 2015, government reports showed.
BEIJING, Aug. 29 (Xinhua) -- Shanghai Pudong Development (SPD) Bank said its first-half-year net profit rose 33.92 percent from one year earlier due largely to lending boom and increased commission fees.Net profits climbed to 9.08 billion yuan (1.34 billion U.S. dollars) in the first six months of this year, the Shanghai-based lender said in a statement filed with the Shanghai Stock Exchange late Sunday.Its growth in profits stemmed from rising operating revenues, a result of growing net interest earnings, increased fee incomes and the improved quality of assets, according to the statement.Earnings per share stood at 0.791 yuan, up 20.21 percent from one year earlier. Also, operating revenues grew 36.42 percent to 22.75 billion yuan in the first half of 2010, it said.Total assets for the commercial bank hit 1.781 trillion yuan by the end of June, up 9.77 percent from the end of 2009.
来源:资阳报