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CHENGDU, Nov. 12 (Xinhua)-- The reconstruction of the Erwang Temple, which was damaged in the Wenchuan Earthquake in 2008, is expected to finish on Nov. 18 in southwest China's Sichuan Province, according to local heritage protection authorities on Friday.Sitting in the Yulei Mountains in Dujiangyan City, Erwang Temple was built over 2,000 years ago to commemorate Li Bing and his son, the two engineers who built the Dujiangyan irrigation system, which was listed as a World Heritage site in 2000.The temple will soon be partially open for visitors and the final touches are being added to the water supply, drainage system and lavatories in these areas, said Fan Tuoyu, deputy chief of the Dujiangyan Cultural Relics Administration.The entire temple will be opened after the Chinese Lunar New Year, which falls on Feb. 3, 2011, said Fan.The reconstruction project kicked off in June, 2008 with an investment of 126 million yuan (19 million U.S. dollars) from the central budget.The temple was seriously damaged in the Wenchuan earthquake with almost all the ancient buildings having collapsed.
BEIJING, Nov. 27 (Xinhua) -- Two years of monetary easing policies helped China's economy emerge from the global financial crisis. Now, facing a runaway inflow of hot money, fast loan growth, and escalating inflation, China could become serious about tightening regulations to achieve a "soft landing".Analysts recently said China could see more interest rate hikes in the final month of 2010 in a bid to soak up excessive liquidity and prevent a potential overheating of the economy.Further, the People's Bank of China (PBOC) Deputy Governor Hu Xiaolian said on Oct. 24 that using multiple monetary policy tools to improve liquidity management and guide the money and credit growth back to normal would be the main task for the central bank in the remainder of this year.According to data released by the central bank Friday, in October those funds outstanding for foreign exchange (FOFE) hit 525.1 billion yuan (78.37 billion U.S. dollars), the second highest monthly record in history.That is to say, PBOC issued 519 billion yuan of Renminbi in October to purchase the same amount of fresh inflow of foreign exchanges, which usually enter the nation in the form of trade surplus, foreign direct investment and short-term international speculative funds."The huge inflow of hot money is an important reason behind the sharp rise in FOFE," said Zhang Ming, a researcher with the China Academy of Social Sciences (CASS).He noted, as the European debt crisis ceased, that speculative funds have returned to the emerging markets, notably after the U.S. Federal Reserve announced the second round of its quantitative easing policy."As the massive inflow of foreign exchange increases the domestic monetary base, it has become a major impetus of a broad money supply, which could exacerbate inflation," said Liu Yuhui, also a researcher with CASS.Hefty foreign exchange inflow usually goes together with soaring inflation. China's FOFE hit a record 525.1 billion yuan in April 2008. In the same month, China's Consumer Price Index (CPI), a main gauge of inflation, was up by 8.5 percent, which was unprecedented.Also, this October, the CPI rose by 4.4 percent, the highest amount in 25 months.Boosted by a massive trade surplus, the domestic monetary situation began easing in late 2008, as China's broad money supply exceeded 70 trillion yuan, surpassing the United States to become the world's largest.Li Daokui, a member of the monetary policy committee with the PBOC, said hefty money supplies posed huge risks to the nation' s banking system and, more imminently, would exacerbate the current inflation."The interest rate increase last month sent a signal that more such increases will come in the future," he said.

DUSHANBE, Nov. 24 (Xinhua) -- Chinese Premier Wen Jiabao and his Kazakh counterpart, Karim Masimov, agreed here Wednesday to enhance bilateral cooperation in various areas, including energy, high-tech, infrastructure and agriculture.The pledge was made at a meeting between the two leaders, who are gathering in the Tajik capital for a prime ministers' meeting of the Shanghai Cooperation Organization (SCO).The strategic partnership between China and Kazakhstan has enjoyed all-round and in-depth development in recent years, Wen said, citing frequent high-level bilateral contacts, increasing mutual political trust, close communication and coordination in such multilateral frameworks as the United Nations and the SCO between the two countries, and remarkable pragmatic bilateral cooperation.Chinese Premier Wen Jiabao (R) meets with Kazakh Prime Minister Karim Masimov in Dushanbe, capital of Tajikistan, Nov. 24, 2010. China is ready to work with Kazakhstan to carry out the consensus reached earlier this year between their heads of state on the development of bilateral ties and advance their strategic cooperation to new heights, Wen said.The two countries should continue to consolidate and expand their cooperation in energy and ensure the safe, stable and effective operation of the China-Kazakhstan oil and gas pipelines, he said.He also urged the two sides to carry out some flagship projects in non-resources fields as soon as possible, enhance their cooperation in high-tech, infrastructure and agriculture, and make concerted efforts to build their transborder free trade zone.The Chinese government supports a greater role of Chinese enterprises in the Kazakh economic development and achieve mutual benefits and common development, Wen said.
GUANGZHOU, Dec. 27 (Xinhua) -- China's southwestern Yunnan and Guizhou provinces agreed Monday to transmit 497 billion kilowatt-hours of electricity to the southern Guangdong Province over the next five years.The agreements were signed Monday between the China Southern Power Grid Company (CSG) and the three provinces.Due to a lack of resources such as coal and water, the relatively more developed eastern and southern regions in China face pressure of providing enough electricity to boost their growth."China's coal resources are mainly based in the west and north, while water is also abundant in the southwestern regions. The uneven situation makes it necessary to transmit power from the west to the east," said Qian Zhimin, deputy director of China's National Energy Administration.Qian said China had initiated the west-to-east power transmission program back in 2000. By the end of this year, the CSG has transmitted over 543 billion kilowatt-hours of power through the program.Guangdong, an economic powerhouse in south China, with a gross domestic product exceeding 3.9 trillion yuan (about 583.3 billion U.S. dollars) in 2009, has been the largest beneficiary of the program as almost 120 billion kilowatt-hours of electricity produced in other western provinces is used by Guangdong annually, making up about one-fourth of all the power it uses every year.The CSG is one of China's two major grid operators, along with the State Grid. The CGS invests, builds, and operates power networks in Guangdong, Guizhou, Yunnan and Hainan provinces, and in Guangxi Zhuang Autonomous Region.
CHONGQING, Dec. 11 (Xinhua) -- Environmental sanitation workers from southwest China's Chongqing Municipality have collected 78,000 tonnes of garbage from the Yangtze River near the Three Gorges Dam, ensuring the dam's safe and effective operation after its water level was raised.More than 68,000 workers in nearly 21,000 boats retrieved the garbage.In late October, the water level in the dam was lifted to its designed maximum of 175 meters, allowing the dam to play its full flood control, power generation, navigation and water supply roles, said Wang Yuankai, a Chongqing municipal work administrator.Raising the dam's water level increased the surface area of water in the dam. It also increased garbage collectors' workload, with about 60 percent more garbage appearing.The cleanup operation helped ensure the water quality of the dam and its navigability.The Three Gorges Dam is the world's largest water-control and hydropower project.
来源:资阳报