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ADDIS ABABA, Dec. 13 (Xinhua) -- Ethiopian Minister of Finance and Economic Development Sufian Ahmed and a Chinese delegation led by Liu Liange, deputy president of Export-Import Bank of China (China Eximbank), on Monday discussed projects financed by the EximBank here in Addis Ababa, Ethiopia.The two sides exchanged ideas on ways of enhancing cooperation in infrastructure development and other sectors. Speaking at the discussion, Sufian said the two countries have been enjoying good relations in all sectors.He said China has forged good relations with the African continent in general and Ethiopia in particular."Particularly the relations between the two countries are increasing from time to time...We also thank the supporting hand of the Chinese government and the Chinese institutions. Exim Bank is one of the Chinese institutions we are working closely with," said Sufian.Liu Liange, on his part, said China has attached great importance to the China-Africa relations.He also said the state-owned China Eximbank would continue working in cooperation with Ethiopia.Sufian Ahmed told Xinhua after the discussion that they had fruitful talks with the Chinese delegation.He said they had agreed to further enhance cooperation between the two sides.

BEIJING, Dec. 11 (Xinhua) -- China's urban fixed asset investment rose 24.9 percent in the first 11 months year on year to hit 21.07 trillion yuan (3.19 trillion U.S. dollars), China's statistics authority said Saturday.The growth rate was 0.5 percentage points higher than that during the first ten months, according to figures released by the National Bureau of Statistics (NBS).The urban investment in the primary, secondary and tertiary industries rose by 16.6 percent, 22.7 percent and 26.9 percent respectively.During the first 11 months, investment in central government projects rose 10.2 percent year on year to 1.68 trillion yuan, while investment in local government projects was up 26.4 percent to reach 19.39 trillion yuan, according to the NBS figures.Property development investment was up 36.5 percent year on year to reach 4.27 trillion yuan, the figures showed.During the same period, state-owned and state-controlled investment reached 8.75 trillion yuan, up 19 percent from a year earlier.Investment in railway constructions and transportation jumped 25.3 percent to 582.2 billion yuan, while investment in petroleum and gas exploration climbed 5.8 percent to 219.4 billion yuan for the first 11 months.

BEIJING, Nov. 19 (Xinhua) -- China's central bank Friday ordered banks to set aside an additional 0.5 percent of their deposits from Nov. 29, the fifth such hike this year and the second increase this month.The People's Bank of China said the move was aimed at "enhancing liquidity management and moderately regulating credit supply." The increase was estimated to freeze liquidity of about 300 billion yuan (44.8 billion U.S. dollars).The reserve requirement ratio (RRR) for the four big state-owned banks -- the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China -- will stand at 18.5 percent once the rise takes effect.Friday's move will raise the deposit reserve ratio for other large financial institutions to 18 percent and for small and medium-sized institutions to 16 percent.Analysts said the increase exceeded forecasts as it targeted over-liquidity in the banking system and looming hot money inflows caused by the United States' quantitative easing policy."The PBOC is under pressure, and it needs to do something to show its determination to tame inflation. However, it has no intention to kill growth by aggressively hiking interest rates or imposing a lending squeeze," said Lu Ting, China economist at the Bank of America-Merrill Lynch."Hiking the RRR is the natural choice of the PBOC," Lu said in an e-mailed note to clients.China's economic growth rate was likely to slow in the fourth quarter to 8.7 percent, mainly as a result of economic restructuring, the State Information Center (SIC) said Friday.The forecast was almost 1 percentage point lower than the third quarter's 9.6-percent growth rate, but the SIC expected the economy to grow by 10 percent for the full year on the back of a 10.6-percent growth rate for the first three quarters.The central bank, on Nov. 10, announced a 50-basis-point rise of the RRR for Chinese financial institutions that accept deposits from Nov. 16, as China's consumer price index (CPI), a main gauge of inflation, soared to a 25-month high of 4.4 percent year on year in October.Prices of meat have risen for the week ending Nov. 14, with prices of pork up 1.6 percent and mutton 0.5 percent. Prices of eggs also rose 0.9 percent, while rice rose 0.6 percent and flour 0.4 percent, according to a weekly report by the Ministry of Commerce.The report said prices of 18 types of vegetables were slightly lower, down by 0.8 percent compared to the previous week. However, on a year-on-year basis, the prices of 18 staple vegetables in the first 10 days this month were still significantly higher from a year earlier.The State Council, the Cabinet, Wednesday announced price control guidelines to reassure consumers facing rising inflation and urged local authorities to offer temporary subsidies to needy families.The market had been expecting an increase, but did not anticipate it would come so soon, said Tan Yaling, senior analyst at Bank of China.She said the central bank would not raise the benchmark interest rates soon after the ratio hike as higher interest rates would further expand the interest rate differences between China and other major economies, which would lead to the influx of hot money.The central bank's decision to raise the RRR, instead of interest rates, was because a higher RRR would have "a direct effect on withdrawing liquidity," said Yan Wei, chief economist with the Orient Securities.The decision was announced after Chinese stock markets edged up following a period of decline of up to 10 percent of their value, largely on concerns of tighter policies.The benchmark Shanghai Composite Index rose 0.81 percent to close at 2,888.57. The Shenzhen Component Index closed up 1.23 percent to end at 12,295.85.

BEIJING, Nov. 13 (Xinhua) - China's urbanization would boost domestic demand by 30 trillion yuan (4.5 trillion U.S. dollars) by 2030, an official from a top think tank said Saturday.The country's urbanization expansion promises a huge potential in domestic demand, which will assure a stable economic development for China even if exports decline, Han Jun, vice director with the State Council's Development Research Center (SCDRC), said at a forum, adding that the urban migrants' demand for housing is likely to become the largest driving force for China's economic growth in the future.Additionally, Han noted that the core issue in China's urbanization is to allow farmers-turned-migrant workers to become permanent urban residents.In the Communist Party of China (CPC) Central Committee's Proposal for Formulating the 12th Five-Year Program for China's Economic and Social Development (2011-2015), which was issued last month, authorities stressed that accelerating urbanization would be an important mission during the next five years.Data from the SCDRC indicates that China's urbanization rate hit 46 percent by the end of 2009, and will reach 63.6 percent by 2030, with the urban population standing at 930 million.

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.