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BEIJING, April 13 (Xinhua) -- Chinese companies will no longer need the central bank's approval when issuing short-term bonds on the inter-bank market amidst government efforts to boost direct financing and reduce bank loan risks. The People's Bank of China (PBOC) announced non-financial companies could issue bonds with maturities of less than one year on the inter-bank market without its approval from April 15. Instead, they would only need to register at the National Association of Financial Market Institutional Investors set up in September, the PBOC said in a statement issued late on Saturday. It said other negotiable notes "with a certain maturity" issued by non-financial companies on the inter-bank bond market wouldn't need administrative examination and approval, either. Nor would future innovative financing tools on the market. China has vowed to develop its capital market and broaden direct financing channels to curb enterprises' heavy reliance on bank credit. "China's financial structure has long been unbalanced, with its direct financing underdeveloped," said the statement. "Enterprises rely on bank loans too much, bringing them fairly large hidden risks." To boost innovation in debt offering and raise the share of direct financing could mobilize the transfer of deposits to investment and decrease credit risks of the banking system, it said. China allowed companies to offer short-term bonds to qualified institutional investors on the inter-bank market in May 2005. From then to the end of 2007, 316 companies issued 769.3 billion yuan (about 109.9 billion U.S. dollars) of short-term bonds, with 320.3 billion yuan of outstanding debts, statistics showed. In comparison, short-term loans to non-financial companies and other institutions surged 1.25 trillion yuan in 2007, while middle- and long-term loans jumped 1.65 trillion yuan.
BEIJING, May 15 (Xinhua) -- Chinese Premier Wen Jiabao has ordered the armed forces and civil aviation department to deploy 90 more helicopters for rescue missions in quake-hit Sichuan province. The decision was made at a late Wednesday evening meeting of the national quake relief headquarters held on a running train from Sichuan provincial capital Chengdu to Guangyuan city about 200 kilometers away. Chinese Premier Wen Jiabao (C) consoles locals as he pays a visit to Beichuan County, which neighbors the epicenter of the massive quake in southwest China's Sichuan Province, May 14, 2008. Wen Jiabao arrived on Wednesday at Beichuan County, one of the regions worst hit by Monday's massive earthquake, to oversee the rescue work.China's air force will deploy 60 more helicopters and the other 30 will be provided by the civil aviation industry, according to the headquarters headed by Wen himself. An earthquake, measuring 7.8 on the Richter scale, struck Wenchuan County of southwestern Sichuan Province Monday afternoon, killing almost 15,000 people nationwide. Since the rescue missions started on Monday, 20 helicopters have been dispatched to quake-hit areas for reconnaissance, food and water airdropping, transporting injured people and delivering rescuers. Rescuers unload medical materials from a helicopter in Yingxiu Town of Wenchuan County, the epicenter of Monday's massive earthquake on May 14, 2008. Premier Wen urged in the meeting that saving people's lives was still the top priority of the disaster relief work more than 50 hours after the quake. "We must use all our forces, and save lives at whatever costs. Life is the most precious thing, we must be amenable to the people and the history," Wen said. Forty-four counties and districts in Sichuan were severely affected by the quake. About half of the 20 million population in these areas were directly affected by the quake, according to the meeting. Soldiers from the People's Liberation Army carry relief materials after their arrival in the quake-stricken Wenchuan County in southwest China's Sichuan Province, May 14, 2008. A strong quake measuring 7.8 on the Richter scale struck Wenchuan at 2:28 p.m. on Monday. Since most of the quake-hit areas are mountainous villages, thousands of rescuers and hundreds of tons of materials were held up on the ways, blocked by rocks and mud shaken down from roadside, to the quake's epicenter, making air support a vital need. China's air force, army aviation and civil aviation have made ever largest noncombat air operation since Monday, mobilizing more than 150 airplanes in various relief missions. The air force has deployed more than 40 transporters which delivered about 8,600 rescuers and 200 tons of materials with more than 130 flights in 48 hours after quake. PLA soliders carry the relief supplies onto a cargo-aeronef heading for the earthquake-affected areas in Sichuan Province to drop the urgently-needed food and relief supplies, in Wuhan, central China's Hubei Province, May 13, 2008. China poured more troops into the earthquake-ravaged province of Sichuan on Wednesday to quicken a search for survivors as time ran out for thousands of people buried under rubble and mud.The force also parachuted 15 elite airborne troopers to a county close to the epicenter who jumped out of plane at about 4,900 meter above sea level and landed without ground instruction and weather reference on Wednesday afternoon. As of mid-Wednesday, rescuers have reached all the affected counties and began rescue efforts there. The meeting decided to mobilize 30,000 more troops for the relief efforts, raising the total number of PLA and armed police soldiers involved in the rescue operation to 100,000. More than 16,000 policemen are already involved in the rescue efforts. Throughout Wednesday, 18,277 injured people were rescued in Sichuan, increasing the total number to 64,725. Among them are 1,620 people seriously injured, according to information from the meeting.

GUANGZHOU, July 5 (Xinhua) -- Chinese Vice President Xi Jinping has praised Guangdong's pioneer role in the 30-year reform and opening drive and urged the south China province to continue promote cooperation with Hong Kong and Macao special administrative regions (SARs). Guangdong played the role as a window, laboratory and pioneer in the construction and development of socialism with Chinese characteristics, said Xi during a study tour of the south China province on July 4 and 5. Xi, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited towns, enterprises, communities, ports and research institutions, with Guangdong Party chief Wang Yang and governor Huang Huahua. Xi hailed Guangdong's economic and social development, highlighting the fact that only socialism could save China, only the reforms and opening up to the outside world could develop China, socialism and Marxism. Chinese Vice President Xi Jinping (L Front) talks with a worker at Weiming company in Shenzhen, south China's Guangdong Province, July 5, 2008He paid special attention to the issue of Guangdong's cooperation with Hong Kong and Macao. With some Hong Kong-funded companies suffering from the decrease of overseas consumer demand and price hikes of oil and raw materials, Xi asked local officials to give assistance. Greater Guangdong-Hong Kong-Macao cooperation and the development of the SARs' economies were of great significance for maintaining a long-term prosperity and stability in Hong Kong and Macao, and the success of the "One Country, Two Systems" policy, and eventually achieving national reunification, he said. Xi urged Guangdong to open up to cooperation with Hong Kong and Macao, by strictly following the "One Country, Two Systems" policy and the basic laws of the two SARs. Xi called for implementation of instructions by President Hu Jintao on the development of the Party. China must adopt the concept of scientific, coordinated and harmonious development, said Xi.
KUNMING, April 2 (Xinhua) -- Chinese Premier Wen Jiabao has pledged that his government will extend further support to poor areas inhabited by ethnic minority people. "All ethnic groups form one big family. We must be united and help each other, to prosper and make progress together," Wen told a group of Jingpo nationality farmers during a visit to the Dehong Dai and Jingpo Autonomous Prefecture in Southwest China's Yunnan Province. Chinese Premier Wen Jiabao visits the DehongDai and Jingpo Autonomous Prefecture in southwest China's Yunnan Province from March 31 to April 1.Wen's trip to Yunnan from March 31 to April 1 took place after he attended the third Summit of the Greater Mekong Subregion held in Vientiane, the capital of Laos. Yunnan has the largest number of ethnic minority groups among all Chinese regions. Wen told farmers in Dai, Jingpo and De'ang villages that his new cabinet has decided to increase rural spending by 25 billion yuan (3.5 billion U.S. dollars). Government shall also increase subsidies for cereal growing and farming machines as well as the minimum state purchasing prices for rice and wheat, Wen said in a Dai village, greeting local farmers in Dai language. Chinese Premier Wen Jiabao visits the DehongDai and Jingpo Autonomous Prefecture in southwest China's Yunnan Province from March 31 to April 1.At the Santaishan Jingpo village, farmer Ding Kongdao told Wen that although he no longer worries about food and basic medical care, cash income is still hard to make being in such a remote mountainous village. The Premier said villagers should be relocated to places where life is easier and that small water conservation projects should be built to water crops. He also suggested that farmers should also grow cash crops such as coffee and banana in addition to rice and sugar cane. Local governments should also help them find jobs in cities. In a De'ang nationality village at the foot of a mountain, Premier Wen met Yao Lateng in his new house. When he learnt that Yao married a Han girl, Wen shook hands with the couple and said, "This is unity among ethnic groups." The village was relocated to a flat place near national highway302 from a nearby mountain five years ago, with special government funding to help ethnic minority groups. Wen urged local officials to make education their top priority, saying that education is the foundation for people to improve their life. Wen also hosted a small meeting attended by a dairy farmer, a school master and a countryside doctor, among others, to solicit their opinions of government work.
BEIJING, April 6 (Xinhua) -- Chinese Premier Wen Jiabao said during a spring planting inspection in the northern Hebei Province on Saturday and Sunday that the Chinese people were fully capable of feeding themselves. Wen said the country's self-reliance in feeding its 1.3 billion people with its own grain production was a great contribution to the world. "China has abundant grain reserves standing at 150 million to 200 million tonnes," said Wen. The government had already taken a series of measures to support farm and rural sectors. The central government vowed this year to spend 562.5 billion yuan (80.1 billion U.S. dollars) to support farms and the rural sector, 130.7 billion yuan more than last year. The State Council, or Cabinet, decided last month to spend another 25.25 billion yuan in addition to this year's rural budget, mainly to subsidize farmers' purchase of seed, diesel, fertilizers and other production materials. --Chinese Premier Wen Jiabao (front R) chats with a villager during his work trip in Shilipu Village, Shahe City, north China's Hebei Province, April 5, 2008.( Wen told farmers in Renxian County, Hebei, "The government will not change its position in supporting farmers, and it will give more and better preferential policies to farmers. "China's grain output grew four consecutive years to reach 500 billion kilograms in 2007, and we are confident the country can maintain a stable supply this year if there are no future severe natural disasters."Chinese Premier Wen Jiabao (C) visits the house of a villager during his work trip in Tianzhai Village, Yongnian County, north China's Hebei Province, April 6, 2008.
来源:资阳报