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BEIJING, March 21 -- A growing number of people are choosing to keep their money in the bank rather than invest it in stocks or property, a central bank survey released yesterday said.     More than 51 percent of the 20,000 households polled said the current level of interest rates was "appropriate", the quarterly survey by the People's Bank of China said. The figure was up from 46 percent in the previous poll held in the fourth quarter of last year, and was the fourth consecutive quarterly increase.     The central bank raised interest rates six times last year in a bid to curb inflation. The rate for a standard one-year savings account is now 4.14 percent, up from 2.52 percent at the start of last year.     While investing on the stock market was a popular option in the earlier part of last year, recent corrections have dampened enthusiasm. The benchmark Shanghai Composite Index has fallen about 40 percent since October, and in recent months, bank deposits have grown significantly.     The survey was carried out last month and involved families in 50 cities. Of those polled, 35 percent said they thought it necessary to save more, up from 30 percent in the previous poll, while almost 28 percent said they planned to invest more in stocks and mutual funds, down from about 36 percent.

BEIJING -- Beijing has seen a 30 percent decrease in residents' complaints about airborne debris around construction sites in the first 11 months of this year compared with a year earlier, the municipal environment authorities said Sunday.The city fined 7,467 construction sites in 2007 for failing to control dust, involving a total of about 10 million yuan (US.3 million), according to the municipal environmental watchdog. The city also  fined more than 4,000 illegal outdoor barbeques and rubbish incineration facilities.The city reached its goal of 245 "blue sky" days for 2007 on Sunday, when a cold front helped the city hit an annual air quality improvement target just two days before the year ends.Statistics also show that although the number of "blue-sky" days did not increase dramatically, Beijing recorded only three heavily-polluted days this year, sharply down from last year's 13.The Chinese capital launched a drive, "Defending the Blue Sky," in 1998, when it only had 100 days of fairly good air quality. The Olympic host city aims to make 70 percent of the days in 2008 meet the standard.

Chairman of the US Joint Chiefs of Staff Marine Gen. Peter Pace inspects the guard of honor during a welcome ceremony at the Defence Ministry in Beijing March 22, 2007. [Reuters]"Clearly, both the United States and China have enormous military capacity, but equally clearly neither country has the intent to go to war with the other. So absent of intent, I don't find threat," General Peter Pace, chairman of the Joint Chiefs of Staff said. "We should not focus on how to fight each other but how to prevent military action. That is what my government is focused on, and that is what my Chinese counterparts here have said their government is focused on." Pace arrived in Beijing Thursday for a four-visit which as he said is aimed at boosting military ties Pace said he had discussed the sensitive topic of Taiwan with the Vice Chairman of the Central Military Commission, Guo Boxiong, Defence Minister Cao Gangchuan and Foreign Minister Li Zhaoxing. "It is not surprising that in each of the meetings, the issue of Taiwan came up. It is clearly a fundamental issue with China," he said. Asked about the possibility of a conflict over Taiwan, he said: "I believe there are good faith efforts among all the leadership to prevent that." Pace said he had repeated US President George W. Bush's position that the US leader "would not support Taiwan independence" and that Washington wanted the issue to be handled peacefully. Pace's visit follows a US announcement last month that it plans to provide over 400 missiles to Taiwan.China's military is proposing officer exchanges and other confidence-building measures with the US Army and may be inching closer to setting up a "hotline" for emergency communication with Washington, according to Pace. Pace said he immediately agreed to study the proposals put forward Friday by Gen. Liang Guanglie, chief of the PLA's General Staff Department. "To me this was a very good, open discussion and one that I found very encouraging," Pace told reporters in Beijing. Liang's proposals included sending Chinese cadets to the Army academy at West Point as well as participating in joint exercises and humanitarian and relief-at-sea operations "that might be able to build trust and confidence amongst our forces." Military exchanges were largely suspended following a collision between a US spy plane and a Chinese jet fighter over the South China Sea in 2001.  Pace said the sides agreed to keep discussing setting up a "hotline" between either military or civilian leaders that would help ease any future friction. "The Chinese military understands as well as I do that the opportunity to pick up the phone and talk to somebody you know and smooth out misunderstandings quickly is a very important part of relations between two countries," Pace said.

China, with a record .2 trillion of foreign-exchange reserves, will keep the "bulk" of its US dollar holdings because the currency is one of safest investment options, a People's Bank of China assistant governor said. The dollar remains "important" because trade and foreign direct investment is conducted mostly in the currency, Yi Gang told delegates at a meeting that was closed to the media at the World Economic Forum in Singapore. Asian central banks will continue to hold most of their reserves in dollars, he said. "Safety, return and liquidity are the three most important elements that people should consider when they talk about reserves," Yi said in a recording of the discussion that was obtained by Bloomberg News. "As far as we're concerned, the serious reduction of the dollar reserve is a small probability," he said, adding that any adjustments to its dollar holdings will be "incremental." China's gross domestic product expanded 11.1 percent in the first quarter, making it the world's fastest-growing major economy, led by sustained demand for its exports to the US and other trading partners. Diversification of the nation's foreign-exchange reserves will be gradual and won't hurt the dollar or financial markets, Market News International said last month, citing Ding Zhijie, one of five advisers to the reserves agency's committee. 'Gradual Process' China's trade surplus, which the Asian Development Bank estimated will climb by 45 percent to a record 7 billion next year, has sparked calls for further gains in China's yuan. Some US lawmakers have said that the yuan was undervalued by 40 percent to make China's exports cheap and pledged trade sanctions as punishment. The central bank expects the yuan exchange rate will gradually move toward a "market-oriented direction," Yi told reporters after the meeting Monday. The currency has risen about 8.6 percent since the dollar link was abandoned in July 2005. "The central bank of China has the responsibility to keep the exchange rate at more or less a stable level," Yi said. "The mechanism is more toward a market-oriented direction."

BEIJING - The Chinese Academy of Social Sciences (CASS), the country's top think tank, published its eighth annual report on Monday and introduced a new international strategy.The report - "China's Modernization 2008" - proposed a brand new concept, the so-called "Peace Dove Strategy".The strategy, with the principle of "Follow the UN Charter and Promote World Peace", calls for the building of a favorable international environment for China's modernization.The "Peace Dove Strategy" makes the United Nations the head of the Dove.Asian nations are the foreside; the Asia-Pacific Economic Cooperation is the eastern wing, and the proposed "Asia-Europe Economic Cooperation", which is upgraded from the existing Asia-Europe Meeting, is the western wing.South America, Oceania and Africa bring up the rear.The strategy, which centers on Asia and faces the world, calls for cooperation of all member nations on an equal, mutually beneficial basis.Under the strategy, China will optimize the structure of its international modernization strategy, increase its national capacity in international modernization, and improve the international environment for the country, according to He Chuanqi, head of the CASS Center on the Study of China's Modernization.The strategy was created drawing upon international experience of the past 300 years and the history and realities of China's international modernization, the official said.The report has been published and distributed as a single volume by the Beijing University Publishing House.

来源：资阳报