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BEIJING, Aug. 5 (Xinhua) - The People's Bank of China (PBOC), also known as the central bank, said Thursday it would maintain its moderately loose monetary policy and enhance financial supports to boost the economy's sustainable development.The bank will apply multiple monetary tools to keep an appropriate growth in money supply in a bid to strike a balance between meeting the need of funding economic development and managing the inflation expectation, the PBOC said in a statement posted on its website.The PBOC reiterated it would maintain continuity and stability in monetary policy while, at the same time, making the policy more specific and more flexible.It vowed to improve the yuan's exchange rate mechanism, and increase financial support to promote the transformation of the economic growth pattern and adjustment of the economic structure.China's broad money supply (M2), which covers cash in circulation and all deposits, increased 18.5 percent year on year to 67.39 trillion yuan by the end of June, which marked a slowdown from the 21 percent increase at the end of May, the PBOC said.During the same period, narrow money supply (M1), cash in circulation plus current corporate deposits, climbed 24.6 percent from a year earlier to 24.06 trillion yuan, representing a decrease of 5.3 percentage points from the end of May, according to the PBOC.The bank also warned of potential domestic inflation risks due to complicated situations both at home and abroad.Increases in the costs of labor and environmental requirements, combined with continuing progresses in the reforms in the prices of resource products, will likely impact the inflation expectation.Meanwhile, the central bank pointed out that external 'hot money' may push up price hike pressures."The global monetary situation is relatively loose, as nations across the world have been prudent in their stimulus exits due to continuing uncertainties in the economic recovery. Excessive money is likely to seek various outlets, adding potential risks of inflation expectations," the PBOC said in its statement.
BEIJING, July 12 (Xinhua) -- The Long March and its legacy had contributed to shaping an extraordinary China, said former U.S. national security adviser Zbigniew Brzezinski, when he called upon the headquarter of China's Central Military Commission (CMC) in Beijing on Monday.His meeting with senior Chinese military leader Xu Caihou started with the memory of the Long March which set Brzezinski in mind of his trip to retrace the Long March in 1981."I learned you had retraced China' s Long March with your family before and your wife is a well-known sculptor," said Xu, who showed Brzezinski around the meeting hall where a set of stone carvings were placed portraying the Chinese Red Army and their epic Long March from 1934 to 1936."Currently China's modern construction and its reform cause are another new Long March, and to stick to a peaceful development road is China's long-term and strategic choice," said Xu, CMC Vice Chairman.Brzezinski, who served under former U.S. President Jimmy Carter from 1977 to 1981, had retraced part of the route of the Long March with his family when visiting China in July of 1981.After that China tour, he wrote an article for the Life Magazine titled "An American Family Retraces Mao's Long March", in which he said "For the emerging new China, the Long March is more than an epic of almost unmatched heroism. It is the reminder of the spirit of national unity essential to overcome the legacy of backwardness."Looking around each of the stone carving with great interest, Brzezinski said the "incredible" and "superb" works had reminded him of his China visits over the years, in particular, the trip to review the Long March.These experience helped me to better understand China and some of its historical events, said the 82-year-old strategist.The Long March was a famous military maneuver carried out by the Chinese Red Army led by the Communist Party of China (CPC) to combat the Kuomintang Regime.Though many soldiers died on the way of the two-year ordeal, the Red Army finally arrived at Yan'an in western Shaanxi Province after the 25,000-li (12,500-kilometer) trek, where the new headquarters of CPC was later established.Brzezinski said all these historical events had helped to shape an extraordinary China.In his two-hour-long meeting with Xu, Brzezinski stressed the United States and China should have all-round strategic dialogues and strengthen coordination and contact, and work for the peace and stability of the world.Xu agreed the two sides should properly handle bilateral relations and international issues to their mutual benefit instead of as a zero-sum game."More than 30 years of China-U.S. relations have proved the two countries can co-exist peacefully and enjoy common development. China's development will expand cooperation between the two countries," Xu added.Brzezinski is visiting China at the invitation of the Chinese International Institute for Strategic Society.

ISTANBUL, Turkey, June 8 (Xinhua) -- Chinese President Hu Jintao's special representative and State Councilor Dai Bingguo and Turkish President Abdullah Gul on Tuesday vowed to boost bilateral ties and increase exchanges of visits by leaders and senior officials.Dai met with Gul on the sidelines of the third summit of the Conference on Interaction and Confidence-building Measures in Asia (CICA) here. Turkey held the rotating presidency of the 20-member forum.Dai said Israel's recent raid on a Turkish humanitarian aid convoy heading to beseiged Gaza, which had resulted in deaths, should be condemned, and he also offered condolences to those affected.Turkish President Abdullah Gul (R) talks with China's State Councillor Dai Bingguo (L) who is also a special representative of Chinese President Hu Jintao during a meeting in Istanbul, Turkey, June 8, 2010. China was glad to see Turkey enjoying rapid development and increasing international influence, Dai said, noting the positive and strong development of relations between the two countries in recent years.China attached great importance to the relations with Turkey and had been trying to handle them with a strategic and long-term approach. China was willing to work with Turkey for more visits by leaders and senior officials, more political trust and closer cooperation, he said.Gul said he was pleased to see efforts to implement the consensus reached between him and President Hu on boosting relations between China and Turkey.He noted the strong and rapid development of the bilateral friendship and cooperation, including the quick growth of Turkish exports to China.The president said Turkey attached great importance to developing relations with China, and hoped to strengthen coordination with it in international affairs.Turkey looked forward to increasing exchanges of visits by leaders and senior officials and boosting bilateral cooperation, he said.
HAVANA, July 31 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi on Saturday said that China and Cuba share profound traditional friendship and huge potential for boosting bilateral cooperation.In an interview on his ongoing trip to the Caribbean island state, Yang spoke highly of the friendship between the two countries, which he said has been deeply rooted in the hearts of the two peoples.Noting that Cuba was the first Latin American country to establish diplomatic ties with China, the top Chinese diplomat said that the China-Cuba relations, characterized by friendly cooperation of mutual benefits, have stood various tests during the past five decades despite the constant changes of the volatile international situation. Cuba's leader Raul Castro (R) meets with visiting Chinese Foreign Minister Yang Jiechi in Havana, capital of Cuba, Aug. 1, 2010.Meanwhile, recent years have seen the two countries gain mounting momentum in the development of their relations and the two peoples show increasing readiness for more exchange and cooperation, Yang added.
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