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BEIJING, April 6 (Xinhua) -- China's outstanding external debt reached 428.6 billion U.S.dollars by the end of 2009, up 14.4 percent from a year earlier, the State Administration of Foreign Exchange (SAFE) said here in a statement on its website Tuesday.The figure excluded Hong Kong Special Administrative Region (SAR), Macao SAR, and Taiwan.The country's registered foreign debt was equivalent to 266.95 billion U.S. dollars by the end of last year, up 2.5 percent from the 2008 level. Outstanding trade credits stood at 161.7 billion U.S.dollars, according to SAFE.China's foreign debt service ratio was 2.87 percent, while the foreign debt ratio and liability ratio stood at 32.15 percent and 8.73 percent, respectively, SAFE said.Mid- and long-term external debt, accounting for 39.52 percent of all outstanding foreign debt, totaled 169.39 billion U.S.dollars by 2009, most of which came from manufacturing and infrastructure construction in transportation, storage and postal services, it said.Short-term external debt rose 23 percent to 259.26 billion U.S.dollars year on year by the end of 2009, accounting for 60.48 percent of the total.New mid- and long-term debt in 2009 declined 38.18 percent to 22.45 billion U.S.dollars from a year earlier.China repaid principals for mid- and long-term loans of 34.19 billion U.S. dollars and 3.63 billion U.S. dollars in interest in 2009, up 46.78 percent and down 12.64 percent year on year, respectively, said SAFE.
YUSHU, Qinghai, April 25 (Xinhua) -- The death toll from a 7.1-magnitude earthquake in northwest China's Qinghai Province on April 24 has climbed to 2,203, the rescue headquarters said late Saturday.As of 5 p.m. Saturday, 73 people were still missing, the headquarters said.Civil affairs authorities in Qinghai also said Saturday they would raise the monthly allowance for orphaned children, widowed elderly and disabled people in the wake of the quake.Ma Danzhu, head of the disaster relief division under the provincial department of civil affairs, said the monthly allowance would be raised to 1,000 yuan (146 U.S. dollars) per person, from 600 yuan as normal standard, for three months.Families of the dead, including locals and migrant workers, also will receive 8,000 yuan in subsidies for each death, according to a policy announced earlier.
BEIJING, May 19 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for the protection of biodiversity and more efficient use of resources to accelerate the transformation of the economic growth pattern and promote sustainable development.Li, also head of the China Committee of the International Year of Biodiversity, told a plenary meeting of the committee Tuesday "biodiversity is the basis for the existence and development of human beings.""China boasts biodiversity riches, and biological resources are one of the nation's strategic resources," said Li, also a Standing Committee member of the Political Bureau of the Communist Party of China Central Committee.2010 is the International Year of Biodiversity.As one of the 12 nations in the world with biodiversity riches, China boasts various types of terrestrial ecosystems. The number of species in China ranks the first among countries of the Northern Hemisphere, statistics show.Li said biodiversity is very important for improving farming, technological innovation, and promoting development.Li said the system of ecological protection and the management of natural reserves should be improved so the country's unique and endangered species are better protected."Efforts should be made to prevent blind- and over- exploitation, and the impact of exploitation on biodiversity should be reduced to a minimum," Li said.He said most Chinese regions rich in biodiversity are located in the west and are underdeveloped. Li called for both ecological protection and improvement in livelihoods in these regions."The protection of biodiversity is a common environmental problem faced by the international community and a development issue concerning human progress," Li said.Biological-technology research and development should be strengthened and international cooperation should be deepened, Li added.Tuesday's meeting also deliberated documents concerning China's protection of biodiversity.
BEIJING, March 31 -- The appointment of three new academic members to the central bank's monetary policy committee on Monday reflects the increasing inclusiveness of monetary policymaking, but may not have any apparent bearing on the timing of an interest rate hike, analysts said.The People's Bank of China (PBOC) said three Chinese economists - Xia Bin, Li Daokui and Zhou Qiren - will replace Fan Gang, the only academic member of the committee, which advises on major monetary issues."Adding two more academics to the monetary policy committee is a welcome change," said Wang Tao, head of China economic research at UBS Securities. "I hope this helps to increase healthy debate within the committee, and increase the independence of monetary policy.""The appointment of three academic members this time - instead of one - indicates the increasing importance of academic voices in monetary policymaking and the three, with different backgrounds, are expected to complement each other to add to the inclusiveness of the panel," said Sun Lijian, an economist with Fudan University. It would make the country's monetary decision-making more rational, he said.Going by their recent comments on inflation, with Li saying that China could precede the United States in raising the rates and Zhou urging a timely and firm exit from stimulus policies, it is speculated that their appointment may signal chances of an earlier rate hike.Zhou said in a February speech that it was high time that China exited from the stimulus measures. "Given the past experiences, the stimulus through expanding money supply and debt only has a short-term effect," he said in the speech.One of the side effects of the stimulus is rising inflation. "The price of the stimulus policies is mainly the adverse effect of the large-scale release of money on the overall market price situation," he said. "We have seen it on the market."Li said early this month once China's consumer price index (CPI), a major measure of inflation, rises 3 percent, the country is set to increase the rates. China's CPI rose by 2.7 percent year-on-year in February.He also said on Monday that China may suffer from exported inflation from developed economies as their continued relaxed monetary policy would lead to surging raw material prices and large-scale capital flowing into the emerging economies, including China.Meanwhile, China should keep itself alert against possible price rises due to weather changes, such as the recent severe drought in southwestern regions.Xia Bin said on Monday that three factors should be taken into account when deciding on whether to raise the interest rates. It should be considered if real negative deposit interest rates occurred. But if inflationary expectations are not strong, the hike would be inappropriate. Moreover, China should not move ahead of the US since it would bring in speculative capital.China's benchmark one-year deposit rate stands at 2.25 percent.Dong Xian'an, chief macroeconomic analyst of Industrial Securities, said economic fundamentals should be the paramount determinant in interest rate related policymaking and the appointment of a new monetary policymaking panel would not have any substantial bearing on the timing of the possible hike.The month-on-month CPI figure is a crucial factor and as it continues to rise, the hike may come in the second quarter of this year, he said.
BEIJING, June 6 (Xinhua) -- The Communist Party of China (CPC) Central Committee and the State Council, China's Cabinet, on Sunday jointly issued the country's Medium and Long-term Talent Development Plan (2010-2020), which sets a blueprint for creating a highly skilled national work force.The plan says as part of China's modernization process, people's education must be improved. China has to transform itself from being labor-rich to talent-intensive.The plan aims to increase the ratio of citizens with a higher education background in the work force from 9.2 percent in 2008 to 20 percent by 2020.The plan lists six major categories of "talent" that the government will help cultivate, ranging from political leaders, entrepreneurs to high-tech researchers and professional social workers.By 2020, more than 85 percent of government officials will have four years of college education, it says.The government will conduct large-scale training programs to encourage more college graduates to work in China's rural areas to help local farmers live a better life, the plan says.In terms of professional social workers, the plan says the government will put measures in place to train about 3 million social workers by 2020.