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BEIJING, Nov. 13 (Xinhua) -- A senior Chinese leader has urged authorities in southwest China's Chongqing municipality to step up their efforts to promote social harmony and increase investment to improve the people's standards of living.Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during an inspection of the city from Thursday to Saturday.Zhou called on local authorities to seize development opportunities while working for coordinated development between urban and rural areas. Zhou Yongkang (C), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Political and Legislative Affairs Committee of the CPC Central Committee, visits 70-year-old Jiang Xiaoming (L) and his family members in the Shahe Sub-district of the Wanzhou District of Chongqing, southwest China, Nov. 11, 2010. Zhou Yongkang has made an inspection tour in Chongqing.When visiting a local court, Zhou urged judicial staff members to pay more attention to details and offer quality and convenient service to the public.Additionally, Zhou spoke highly of police and judicial staff's contributions in cracking down on gangs and organized crime.
BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The 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 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.
LUANDA, Nov. 20 (Xinhua) -- China and Angola announced Saturday that they have decided to establish a strategic partnership to continue shoring up bilateral cooperation.The leap forward in China-Angola ties came after visiting Chinese Vice President Xi Jinping met with Angolan President Jose Eduardo dos Santos and held talks with Vice President Fernando da Piedade Dias dos Santos.Both sides agreed, they said in a joint communique, that China and Angola are strategic cooperation partners, and that boosting their comprehensive collaboration serves the fundamental and long-term interests of both nations.In line with this understanding, and in order to grasp the opportunities and meet the challenges in the new international landscape, Beijing and Luanda decided to establish a strategic partnership, the document added.The two sides also expressed satisfaction with the steady improvement of their mutual political trust, the continued expansion of their cooperation in trade, culture and many other fields, and the increasingly close coordination on regional and global affairs.Looking ahead, the two sides agreed to continue high-level dialogues, further exchanges between governments, legislatures and parties of the two countries and better communications on bilateral ties and other major issues of mutual concern.Meanwhile, Beijing and Luanda are committed to hammering out a proper mechanism to guide bilateral cooperation at the earliest possible date, and harmonizing their cooperative system with future developments of bilateral relations, according to the joint communique.The two sides also agreed that both countries will constantly improve their cooperation mechanism and enhance the level and quality of their economic and trade cooperation, based on the principles of mutual benefit and common development.The two sides, the document said, will continue to encourage and support their enterprises and financial institutions to expand bilateral trade and investment, giving priority to strengthening cooperation of mutual benefit in such areas as agriculture, industry, infrastructure, urbanization, energy and mineral resources exploration.Also, the two sides will deepen their cooperation in multilateral mechanisms, like the Forum on China-Africa Cooperation, and the Forum on Economic and Trade Cooperation between China and Portuguese Speaking Countries, it added.Additionally, the two sides agreed to further strengthen their exchanges and cooperation in the humanistic area, including education, health, science and technology, sports and journalism as well as human resources training.The two sides reaffirmed that both countries share consensus in areas like safeguarding the common rights of developing countries,and making the international economic order more reasonable and fair.The two sides also will continue to strengthen their consultation and cooperation in such international organizations as the United Nations, the World Trade Organization and maintain coordination on the major international and regional issues, the joint communique said.During Xi's visit, the two sides signed various documents to strengthen and expand cooperation between the two countries.The joint communique also said that Xi's Angolan counterpart has accepted an invitation of the Chinese vice president to visit China.
BEIJING, Dec. 20 (Xinhua) -- The Standing Committee of the National People's Congress (NPC), China's top legislature, opened its bimonthly session Monday to read a series of draft laws.During the six-day session, lawmakers are reading, for the second time, a draft amendment to the Criminal Law, a draft revision to the Law on Water and Soil Conservation, and a draft law on intangible cultural heritage.In the draft amendment to the Criminal Law, harsher punishment are to be handed down for principal offenders of organized crimes.Organized crime chiefs will face longer jail terms of up to 15 years and "core members" of organized crime gangs could be jailed for up to seven years, under the proposed amendment to the Criminal Law.Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), presides over the first plenary meeting of the 18th session of the Standing Committee of the 11th NPC in Beijing, capital of China, Dec. 20, 2010. The law currently stipulates that organizers, leaders and core members of crime gangs are all subject to jail terms ranging from three to 10 years.Drivers involved in car racing, which have caused "serious consequences" and drunk drivers would be detained and fined, the draft amendment says.Under a proposed change to the Criminal Law, the death penalty will not be given to people aged 75 years or more at the time of trial except if they used exceptional cruelty when murdering another.The amendment, which is the eighth to the country's 1997 version of the Criminal Law, is meant to further implement the policy of tempering justice with mercy.If the amendment becomes law, it will be a major move to limit the use of the death penalty, after the Supreme People's Court in 2007 began to review and approve all death penalty decisions.According to the draft revision of the Water and Soil Conservation Law, local authorities must seek public and expert opinions before drawing up soil and water conservation plans.The draft also stipulates that penalties for the loss of soil and water must be included in land-use contracts reached with local governments.Also, the amendment stipulates that public servants responsible for supervising and managing food safety will face up to ten years in jail for dereliction of duty or abuse of power in the case of a severe food safety incident.The draft further broadens the conditions for food safety crimes. It says those who produce and sell a harmful food product will be punished, even if poisonings fail to occur.On a different matter, according to the draft Law on Intangible Cultural Heritage, foreign organizations and individuals will have to obtain government approval before conducting surveys of intangible cultural heritage in China.Also, they will have to conduct surveys in cooperation with Chinese ICH research institutions.The top legislature conducted the first reading of the draft laws in August.The legislature will also examine three reports from the State Council on boosting economic and social development in ethnic minority areas, deepening reform of health care systems and stepping up the development of the service sector.Additionally, lawmakers will discuss a report from the NPC inspection team on the enforcement of the country's Energy Conservation Law.They will also consider a bill on a draft resolution to convene the fourth annual session of the 11th NPC.The session was presided over by Wu Bangguo, Chairman of the NPC Standing Committee.
BEIJING, Dec. 27 (Xinhua) -- Senior Communist Party of China (CPC) official Li Changchun on Monday called for greater efforts to divert public cultural services to people at a grassroots level and in rural areas.In a visit to an exhibition showcasing achievements of a national cultural program over the past five years, Li, a Standing Committee member of the Political Bureau of the CPC Central Committee, said a plan must be made to set the objectives and measures of the program in the next five years.Li Changchun, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks with pupils during his visit to an exhibition showcasing achievements of a national cultural program over the past five years, in Beijing, capital of China, Dec. 27, 2010. The program, co-hosted by the ministries of culture and finance, seeks to extend public cultural services such as films, museums and libraries to more people at the grassroots level and in rural areas, largely by using digital and Internet technologies.Li called for greater efforts to build a network with cultural information and resource centers at every level from the national to the village and urban communities, and to build more cultural facilities like digital libraries for minors.