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CHANGCHUN, Aug. 7 (Xinhua) -- Floods have left 85 people dead and 66 missing in northeast China's Jilin Province over the past two months, local authorities said Saturday.More than 5 million people have been affected since the flood season began in June and some 1.5 million people have been evacuated, the Jilin Provincial Civil Affairs Department said in a statement.Additionally, almost 82,000 houses have collapsed and 198,000 others have been damaged, the statement said.Soldiers pack stones to reinforce a bank in Yongji County, northeast China's Jilin Province, Aug. 4, 2010. Floods hit dozens of counties in Jilin, causing more than 300,000 houses collaped and over 70 people died since this July.Direct economic losses were estimated at more than 45 billion yuan (6.6 billion U.S. dollars), it added.In the hardest-hit areas, flash floods have cut roads, isolated villages and disrupted communications and water supplies.

ZHOUQU, Gansu, Aug. 8 (Xinhua) -- At least 127 people have been confirmed dead in rain-triggered mudslides Sunday in a northwest China county, while rescuers are racing against the clock to search nearly 1,300 others who are still missing.Heavy downpours triggered landslides and mud-rock flows in Zhouqu County, Gannan Tibetan Autonomous Prefecture in Gansu Province, early Sunday morning.The rescue headquarters in Zhouqu estimated that 1,294 people are missing as of 9 p.m. Sunday. Earlier the provincial civil affairs department put the figure at nearly 2,000.Another 117 were injured, including 29 in serious condition, as of 9:25 p.m.. In addition, 1,242 have been rescued from debris or brought to safety from places such as tops of buildings.About 45,000 people have been evacuated, according to a statement from the provincial civil affairs department.The water level in the county seat of Chengguan Township had declined by 40 cm, after floodwaters carrying mud and rocks submerged half the town in the small hours on Sunday, said Mao Shengwu, head of the prefecture.Chinese President Hu Jintao and Premier Wen Jiabao instructed the Gansu provincial government and other related departments to spare no efforts to save lives. Wen arrived at Zhouqu County at 4:35 p.m.The China National Committee for Disaster Reduction, the State Flood Control and Drought Relief Headquarters and the Ministry of Civil Affairs have lifted the national disaster relief response level to grade II, the second highest level.

SHANGHAI, June 16 (Xinhua) -- Yu Zhengsheng, Party chief of Shanghai, the host city of the 2010 World Expo, met Wednesday with Vicente Gonzalez Loscertales, secretary-general of the International Exhibition Bureau (BIE).Yu extended gratitude to Loscertales for his assistance and support given to Shanghai in hosting the World Expo. He said the Expo operation is getting better and better as the organizer has been committed to resolving various problems found in the operation and strengthening communication with all participating countries and organizations.Loscertales said after almost six weeks, the organizer has made lots of achievements in improving the work and increasing the efficiency of the Expo operation.Running from May 1 to Oct. 31, the Expo, with the theme "Better City, Better Life," has drawn participation by an unprecedented 189 countries and 57 international organizations.The number of daily visitors to the Expo Park reached a new high Tuesday as 546,700 people entered the Park, breaking the earlier record of 524,900 set on June 5.

BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.

BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.