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HONG KONG, June 30 (Xinhua) -- The renminbi deposits with authorized institutions in Hong Kong rose 0.8 percent in May to 53. 4 billion yuan (7.8 billion U.S. dollars), representing about 2 percent of the foreign currency deposits, the Hong Kong Monetary Authority said Tuesday. The total deposits rose 2 percent in the same month, with the HK dollar deposits rising 2.7 percent as the expansion in demand and savings deposits exceeded the contraction in time deposits. Foreign currency deposits climbed 1.4 percent. Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, rose 9.6 percent in May and 26.8 percent from a year earlier. Unadjusted HK dollar M3, the broader measure, grew 2.5 percent in May and 8.1 percent year on year. Hong Kong, a southern Chinese special administrative region and free trade hub, has been trying to foster the development of RMB financial market recently with a pilot scheme using yuan for cross- border trade settlement and the issuing of yuan-denominatedbonds in Hong Kong by local and foreign banks operating in the mainland.
GUANGZHOU, May 24 (Xinhua) -- Heavy rains continued to hit south China's Guangdong Province on Sunday, triggering flood alert as rivers were swelling. The downpours continued to sweep the Pearl River Delta area from 8 a.m. to 2 p.m. Sunday. Sixteen observation sites reported precipitation of more than 100 millimeters, the Guangdong Provincial Hydrological Bureau said. Two people were killed in a rain-triggered landslide Friday midnight, in Xingning city in Guangdong's northeast. The Changsha hydrological station in the lower reaches of the Tanjiang River saw a 2.5-meter-high water level at 11:35 a.m. Sunday, 40 centimeters higher than the warning level. Another one, the Moyang river in western Guangdong is also swelling and expected to have a 5.8-meter flood peak at midday Monday. From 8 a.m. Friday to 8 a.m. Sunday, the whole province had an average rainfall of 58 mm, with 170 mm in the Pearl River Delta area. The provincial flood control and drought relief authorities have ordered local governments to closely monitor weather changes and brace for possible flooding.

BEIJING, May 15 (Xinhua) -- China has called for the EU to recognize its market economy status soon, said Yao Jian, spokesman for China's Ministry of Commerce (MOC) here Friday. China's Commerce Minister Chen Deming will attend the 11th China-EU Summit in Prague in the Czech Republic next week, Yao said. The summit will address China's desire to be recognized as full market economy by the EU soon, the limitation on high-tech exports to China from the EU and bilateral economic cooperation, Yao said. China need not be recognized by any country in terms of market economy as a concept, but market economy status is a technicality that will help China receive fair treatment in anti-dumping investigations, Yao said.
BEIJING, July 1 (Xinhua) -- Chinese Premier Wen Jiabao and his British counterpart Gordon Brown on Wednesday held a telephone conversation on bilateral ties and other issues of common concern. Wen said China-Britain ties are currently developing smoothly, and the two sides have conducted close communication and coordination on tackling the global financial crisis and climate change, and have played positive and constructive roles in the international arena. He said China is willing to keep high-level exchanges with Britain, strengthen bilateral cooperation, push forward bilateral ties, and make joint efforts with Britain to make a contribution to the world's sustainable development. Brown said Britain attaches great importance to the development of its comprehensive strategic partnership with China, appreciates the Chinese government's firm resolution and vigorous measures adopted in handling of the global financial crisis, supports China's important role in tackling climate change, and hopes to deepen mutually beneficial cooperation with China in various fields. The two leaders also exchanged views on other international issues of common concern
BEIJING, July 13 (Xinhua) -- China's Ministry of Finance announced Monday that the country's fiscal revenue in June rose 19.6 percent year on year to 686.75 billion yuan (100.5 billion U.S. dollars). However, in the first half of this year, fiscal revenue fell 2.4 percent to 3.398 trillion yuan, said the ministry in a statement on its website. The growth rate last month was 14.8 percentage points higher than the growth rate in May. Fiscal revenue fell 9.9 percent in the first four months this year from a year earlier to 2.05 trillion yuan due to shrinking business profits hit by the global economic slowdown and active fiscal policies including tax cuts to buoy domestic economic growth. The ministry attributed the revenue rise in June to the stabilization of overall economic performance, growing business profits and the increase in the cigarette tax. The government announced on June 20 the tax on cigarette cartons costing 70 yuan or more would rise to 56 percent from 45 percent, and the tax on cigarette cartons costing less than 70 yuan would rise from 30 to 36 percent. Sales tax revenues rose 63.1 percent year on year in June, with business tax revenues edging up 6.4 percent, but the ministry did not specify the figures. In June, China's fiscal expenditure increased 21.5 percent to 640.56 billion yuan from a year earlier. From January to June, the figure stood at 2.89 trillion yuan, up 26.3 percent from the same period last year. The government unveiled a 4-trillion-yuan stimulus package in November last year to be spent over the next two years to shore up the world's third largest economy, with 1.18 trillion yuan from the central government. Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from state-owned assets.
来源:资阳报