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BEIJING, Nov. 9 (Xinhua) -- China will raise gasoline and diesel prices both by 480 yuan (70.28 U.S. dollars) per tonne from Tuesday, the National Development and Reform Commission (NDRC) announced on its website Monday.     The benchmark price of gasoline will be 7,100 yuan a tonne and that of diesel 6,360 yuan a tonne, according to the NDRC.     The retail price of gasoline will climb by 0.36 yuan per liter and that of diesel will rise by 0.41 yuan per liter.     The country adopted a new fuel pricing mechanism, which took effect on Jan. 1.     Under the pricing mechanism, the NDRC will consider changing the benchmark retail prices of oil products when the international crude price changes more than four percent over 22 straight work days. A worker adjusts the price tag at a gas station in east China's Shanghai Municipality, early Nov. 10, 2009. China raised gasoline and diesel prices both by 480 RMB yuan (70.28 U.S. dollars) per tonne on Nov. 10    "Margins of price fluctuations are within expectation. The price hike can help relieve domestic refiners' pressure from soaring oil refining cost," said Wang Jing, an analyst on petrochemical sector with Orient Securities Company Limited.     The price hike was aimed to protect oil refiners' interests, ensure market supply and help lead rational consumption to promote energy-saving and emission reduction, the NDRC said.     The NDRC would take active measures to help reduce pressure brought to sectors like transportation, the NDRC said.     International crude oil price might continue to rise within this year as demand would continue to grow amid global economic recovery, Wang said.

BEIJING, Nov. 15 (Xinhua) -- China should enhance supervision and management of the country's insurance investment, said Li Kemu, vice chairman of the China Insurance Regulatory Commission (CIRC),on Sunday.     "With insurance funds were extended into disparate fields, other than bank deposit, demand for a better supervision and risk control enhanced, said Li at the International Finance Forum held in Beijing.     By the end of September, 3.4 trillion yuan (497.8 billion U.S. dollars) of insurance funds were invested in bonds, mutual funds, and stocks markets. Bonds investment alone accounted for 50.6 percent of the total.     Jiang Dingzhi, China Banking Regulatory Commission (CBRC) Vice Chairman also highlighted the importance of establishing a "all-coverage" financial supervision system.     He suggested the country broaden the financial supervision and management system, which would put the mutual funds, hedge funds, and credit risks appraisal agencies under control.     The new system requires financial institutions to share information, and also cooperate to fill the supervision blanks between different financial markets, he said.

BEIJING, Jan. 9 (Xinhua) -- China Saturday "strongly" urged the United States to respect its core interests and grave concerns, and immediately stop arms sales to Taiwan to avoid harms to the Sino-U.S. cooperation.     The U.S. arms sales to Taiwan undermined China's national security as well as the peace and stability across the Taiwan Strait, Vice Foreign Minister He Yafei told Xinhua in an exclusive interview, once again voicing China's "resolute opposition" to the sales.     This was the sixth official announcement made by China over the issue in a week, as spokespersons with the Foreign Ministry and the Defense Ministry had repeatedly denounced the U.S. move.     He said that in response to the U.S. government's recent approval of Raytheon Company and Lockheed Martin Corp. to sell weapons to Taiwan, the Chinese side had made solemn representations with the U.S. side.     The two U.S. Companies' sales plan was part of the arms sales package announced in October 2008 under the Bush Administration, which included weapons and equipments such as Patriot III anti-missile system.     The sales of weapons to Taiwan seriously violated the three Sino-U.S. joint communiques, in particular the principles enshrined in the August 17 Communique, said He, adding China's stance on this issue was always "consistent, clear and unswerving."     He said the Taiwan issue was "the most important and sensitive issue at the core of Sino-U.S. relations."     Noting the Sino-U.S. relations had maintained a steady momentum of development since U.S. President Barack Obama took office, He said this progress was hard-earned and should be valued by both countries.     China hoped the United States would work with China to earnestly implement the important consensus on developing bilateral relations reached by leaders of the two countries, strictly abide by the three Sino-U.S. joint communiques and principles of the joint statement issued last November, enhance bilateral dialogue, coordination and cooperation in various spheres, so as to push forward the sound and steady development of bilateral ties, said He.

BEIJING, Dec. 9 (Xinhua) -- The Chinese government reiterated Wednesday that to spur "sustainable and fast consumer spending" will be a priority next year, as the world's third-largest economy seeks to break from dependence on export and government pump-priming to drive post-crisis growth.     The government will continue to raise the earnings of the middle and low income groups to boost consumer spending, said a senior official with the nation's top economic planning body.     The government will step up research on optimization the income distribution mechanism to improve residents' purchasing power, Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), made the remarks at a national meeting charting the ministry's work in 2010.     The rare official stance on improving income distribution echoed the unanimous call from experts and the general public to bridge the yawning wealth gap between the rich and poor, which underlined the government's resolution to address the simmering social conflicts and the urgency to rebalance economic growth.     Zhang said the government will exert more efforts to sort out problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability.     In concrete, the government will raise the pensions for enterprise retirees and improve treatment for those who enjoy special care. Local education, cultural and health-care facilities will also receive greater subsidy for expansion.     To revive the economic growth which lapsed to a decade low amid the global financial crisis, Chinese government unveiled a 4-trillion-yuan stimulus package, which was led by government investment, to counter falling exports, the driving force of the Chinese economy before the crisis took a toll.     As a result, as the GDP growth accelerated to 8.9 percent in the third quarter, investment contributed 7.3 percentage points while consumption devoted 4 percentage points.     "As the Chinese authorities have recognized that the rapid pace of recovery has exacerbated some of the economy structural imbalances, the authorities will focus on rebalancing growth, primarily by supporting consumption and private investment, with many consumer incentives to be carried out in 2010," said Jing Ulrich, managing director and chairman of China Equities and Commodities of J.P. Morgan.     Also on Wednesday, the State Council, or cabinet, decided to renew the preferential policies introduced early this year to boost car and home appliance sales.     "While investment growth should be managed at a reasonable pace, consumer spending should maintain sustainable and relatively fast expansion," Zhang said.     As investment binge and runaway bank lending prompted fears for asset bubble, Zhang said the government will step up efforts to curb speculative property transaction, and provide more affordable housing to middle and low income families.