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BEIJING, June 12 (Xinhua) -- Chinese Vice Premier Li Keqiang has said that low-rent and affordable housing construction should be sped up to meet people's basic demands for living.The construction of public low-rent housing seeks to offer middle and low-income urban residents with adequate housing and affordable rents. This not only helps curb skyrocketing property prices in some cities, but is also conducive to bridge the income gap and assist in urbanization, Li told a national meeting which concluded on Saturday.While speaking at the two-day meeting, Li urged local authorities to create favorable taxation and financing policies to support such housing programs.He noted that private capital is also welcome to join the mission to diversify fund raising channels. Li urged different localities to explore their own methods based upon their unique conditions to carry out housing construction.Li also said that the construction and distribution of low-rent housing should be transparent and fair.Exorbitant housing prices in some cities have become a major complaint of Chinese citizens. Home prices in 70 large and medium-sized cities rose by 12.4 percent year on year in May, the National Bureau of Statistics said this week.However, the growth rate was 0.4 percentage points lower than that of April, as property sales in major big cities dropped following a string of government measures to rein in prices.

BEIJING, Aug. 17 (Xinhua) -- Chinese experts on Tuesday refuted claims by the Pentagon released in a report that China is developing cyberwarfare capabilities, saying that the U.S. military was attempting to blacken China's image."I've never heard about any plans by China to develop its cyber attack forces, not to mention China's so-called 'organized cyber intrusion," Hu Qiheng, president of the Internet Society of China (ISC) told Xinhua on the sidelines of the China Internet Conference, which opened here Tuesday."It is a mere fabrication that China is using computer technologies to intrude on other countries' sovereignty," Hu said.The Chinese expert's comments came after the U.S. Department of Defense concluded early Tuesday in its annual assessment report sent to the U.S. Congress that "China is fielding...cyberwarfare capabilities to hold targets at risk throughout the region.""The U.S. purpose (of releasing such a report) is to tarnish China's image and exaggerate the threat China poses," Hu said.The U.S. was the top country of cyber attack origin in 2008, accounting for 25 percent of worldwide activity, according to a report by U.S. security firm Symantec.The ISC said more than 1 million Internet Protocol addresses in China were controlled by overseas hackers while 42,000 Chinese websites were tampered or hacked in 2009.Ni Feng, deputy director of the Institute of American Studies with the Chinese Academy of Social Sciences, said the United States has greatly outstripped any other country in terms of Internet technological power."As the source of Internet technology, the United States enjoys the most advanced Internet technologies and equipment in the world," Ni said, "thus it makes no sense and is beyond my comprehension for the United States to play up such cyber threat from China.""Maybe the only reasonable explanation is that the United States has always been on the alert for China's development," Ni said. "The U.S. government needs this kind of rhetoric as an excuse to scale up its cyberwarfare capabilities and win support from Congress, the media and the public at large.""If the United States continues such behavior, looking for topics to attack China, the mistrust between the two countries will only get worse," he added.

BEIJING, July 24 (Xinhua) -- The gross domestic product (GDP) in China's western regions grew by 13.5 percent year on year in 2009, much higher than the country's revised national GDP growth of 9.1 percent, according to a report issued here on Saturday.It is the eighth year in a row for these regions to score a double-digit GDP growth after the Chinese government launched a "West Development" campaign ten years ago, read the report on the economic development of China's western regions issued by the Chinese Academy of Social Sciences.It attributed the GDP growth mainly to China's policies to stimulate domestic demand and the increase in investment, despite the global financial crisis.Five provinces, regions or municipalities saw an increase of more then ten percent in the disposable income of urban citizens in 2009, as the income gap between China's western and eastern regions had begun to narrow, the report said.The average yearly per capita disposable income of urban citizens in the western regions was 12,971 yuan (about 1,918 U.S. dollars) in 2008.Noting that economic development in the western regions still heavily relied on natural resources, the report said efforts should be made to increase the regions' capacity to ensure sustainable development, while establishing a low-carbon industrial system.

BEIJING, July 27 (Xinhua) -- China's largest gold producer said on Tuesday its operating profits rose by three fold to 1.55 billion yuan (228.09 million U.S. dollars) in the first six months this year.China National Gold Group Corp. said in a statement that its first-half revenue grew by 98 percent from a year earlier to 27.67 billion yuan and expected its full-year revenue to reach 50 billion yuan.At the end of June, the gold producer had 1,250 tonnes of gold reserves, eight million tonnes of copper reserves and 1.6 million tonnes of molybdenum, according to the statement.In the first half of 2010, the company added a total of 24.7 tonnes of gold, 683,000 tonnes of copper and 445,000 tonnes of molybdenum to its reserves, said the statement.The company had improved its development strategies through conducting merge and acquisitions, integrating regional resources and exploring overseas, said Sun Zhaoxue, general manager of the gold producer.

BEIJING, Aug. 5 (Xinhua) - The People's Bank of China (PBOC), also known as the central bank, said Thursday it would maintain its moderately loose monetary policy and enhance financial supports to boost the economy's sustainable development.The bank will apply multiple monetary tools to keep an appropriate growth in money supply in a bid to strike a balance between meeting the need of funding economic development and managing the inflation expectation, the PBOC said in a statement posted on its website.The PBOC reiterated it would maintain continuity and stability in monetary policy while, at the same time, making the policy more specific and more flexible.It vowed to improve the yuan's exchange rate mechanism, and increase financial support to promote the transformation of the economic growth pattern and adjustment of the economic structure.China's broad money supply (M2), which covers cash in circulation and all deposits, increased 18.5 percent year on year to 67.39 trillion yuan by the end of June, which marked a slowdown from the 21 percent increase at the end of May, the PBOC said.During the same period, narrow money supply (M1), cash in circulation plus current corporate deposits, climbed 24.6 percent from a year earlier to 24.06 trillion yuan, representing a decrease of 5.3 percentage points from the end of May, according to the PBOC.The bank also warned of potential domestic inflation risks due to complicated situations both at home and abroad.Increases in the costs of labor and environmental requirements, combined with continuing progresses in the reforms in the prices of resource products, will likely impact the inflation expectation.Meanwhile, the central bank pointed out that external 'hot money' may push up price hike pressures."The global monetary situation is relatively loose, as nations across the world have been prudent in their stimulus exits due to continuing uncertainties in the economic recovery. Excessive money is likely to seek various outlets, adding potential risks of inflation expectations," the PBOC said in its statement.