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BEIJING, Jan. 14 (Xinhua) -- China will increase the flexibility of the yuan exchange rate and further push forward the opening-up of its financial markets, a senior central bank official said Friday.China will continue the reform of the yuan exchange rate mechanism and keep the rate basically stable at a reasonable and balanced level, Li Dongrong, assistant governor of the People's Bank of China, said at a forum. The speech was posted on the central bank's website.The Chinese yuan strengthened to a record high against the U.S. dollar Friday, the central parity rate reaching 6.5896, the second straight day it has been set below 6.6 per dollar, according to the China Foreign Exchange Trading System.The currency has risen by more than 3 percent since the country's central bank announced in June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.Li also said the central bank will work to expand trials of cross-border yuan settlement, to facilitate trade and investment.The central bank will promote the policy of allowing exporters to park their foreign revenue overseas, Li said, adding that it will further develop the foreign reserves market and create tools to hedge exchange rate risk.Li's speech came after the central bank announced Thursday the nation's qualified businesses and banks may settle their overseas direct investment in yuan, a move that expands the Chinese currency's global reach and eases excess domestic liquidity concerns.Li also voiced concern about loose credit globally, saying such policies are adding to capital-inflow and currency-appreciation pressures, leading to asset bubbles in some emerging economies.China still faces many challenges, Li said. "Expectations for inflation are rising. Housing prices are still high in some cities. Pressure from continuous inflows of foreign capital is increasingly evident," he said.The central bank will soundly manage money supply and maintain reasonable growth in credit, he added.

WUHAN, Dec. 28 (Xinhua) - Chinese courts would seek to create their own management system for authenticating judicial evidence within the next five years, said Su Zelin, vice president of the Supreme People's Court.Su made the remarks Monday during a meeting held in Wuhan, capital of central China's Hubei Province.The proposed system, which would further clarify the courts' working procedures and protocols while examining and verifying authenticated evidence, would be based on the current system administered by the Ministry of Justice, said Su.The Supreme People's Court plans to build its own forensic lab and relevant specialist pool to ensure the neutrality and authenticity of evidence used in court proceedings, Su added.

BEIJING, Jan. 14 (Xinhua) -- Chinese Vice President Xi Jinping on Friday attended a graduation ceremony held by the Party School of the Communist Party of China (CPC) Central Committee.Xi, also president of the CPC's top Party school, awarded graduation certificates to the 682 officials who had finished the school's autumn semester and about 3,000 officials who completed studies at the school's four branches.Vice president of the school, Li Jingtian, called on the graduates to continue studying, implement the principles and policies at the 5th plenary session of the 17th CPC Central Committee and Central Economic Work Conference, as well as the concept of putting people first in the party's daily work.

BEIJING, Dec. 31 (Xinhua) -- Chinese Vice Premier Hui Linagyu Thursday urged efforts be made to supervise the distribution and use of the living allowance for orphans.Tighter supervision should be maintained to make sure that basic living allowances were paid to orphans in a timely and sufficient manner, said Hui in Beijing at a high-level conference discussing the work to support orphans.The central government has allocated over 2.5 billion yuan (around 379 million U.S. dollars) as dedicated funds for the allowance policy in 2010, according to a circular jointly issued by the Ministry of Civil Affairs and the Minister of Finance in late November.Chinese Vice Premier Hui Liangyu (C) speaks during a national teleconference on the orphan supporting work, held by the State Council of China in Beijing, capital of China, Dec. 30, 2010. According to the circular, orphans under the age of 18 living in eastern, central or western regions will receive monthly allowance of 180 yuan, 270 yuan or 360 yuan respectively.The policy was part of China's still-to-be-perfected orphan support system.A sound orphan support system that suits China's economic-social development level would be a "milestone" in the progress of the country's children welfare initiative, said Hui.He said family members and relatives of orphans, welfare institutions, governments and charity groups should make concerted efforts to guarantee orphans' rights to education, healthcare, employment and housing.Hui said more charity funds and volunteers should be encouraged to join the orphan support system.

BEIJING, Dec. 31 (Xinhua) -- A revised version of China's Regulation on Work-Related Injury Insurance will take effect Saturday, raising compensation standards while expanding the coverage to more organizations.The previous regulation stipulated that the compensation to families of workers who die on the posts is no more than five times the average annual salary in the previous year. The sum varies depending on the regions where the workers are working.Under the current system, the national average compensation is about 100,000 yuan, but the lowest regional average compensation is about 40,000 yuan.The new regulation raises the compensation to 20 times the national annual disposable income for urbanites per capita in the previous year, which means about 340,000 yuan according to 2009 statistics.In addition, the revised regulation covers the country's public institutions, social groups, non-profit grass-root organizations, foundations, law firms and accounting firms.Previously, the rules only include enterprises and small businesses and their employees in the system.