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BEIJING, Oct. 18 (Xinhua) -- There will be unrelenting efforts to crack down on activities such as illegal financing and pyramid selling by insurance agents, the China Insurance Regulatory Commission (CIRC) said Monday.The CIRC issued the statement on its website after two cases came to the attention of the insurance regulatory bureaus in Liaoning and Zhejiang provinces.In Liaoning, He Feng, head of the Chende Insurance Agent Company, was detained for collecting capital at high interest rates. In Zhejiang, the license of the Hangzhou Minfeng Insurance Agent Company Limited was canceled for luring policyholders by exaggerating prospective earnings.The CIRC reminded the public not to be misled by similar claims and encouraged them to report illegal activities to reduce their losses.
HANOI, Oct. 11 (Xinhua) -- U.S. Defense Secretary Robert Gates on Monday accepted an invitation to visit China early next year, a Chinese official said.Chinese Defense Minister Liang Guanglie extended the invitation during his talks here with Gates, Guan Youfei, a Chinese Defense Ministry official, told a press conference.Although very brief, the meeting showed that both sides attach great importance to developing military ties between the two countries, and was helpful to enhance mutual understanding and trust, he said.The tete-a-tete between the two defense chiefs was their first since bilateral military ties soured in January following Pentagon's decision to sell a 6.4-billion-dollar arms package to China's Taiwan province.While noting the setback, Guan said that ties between the two militaries have never ceased moving forward, and dialogues and exchanges under some established frameworks will continue.Beijing and Washington will hold their annual consultations on maritime security in Hawaii later this week, which will be followed by a new round of annual defense consultations in Washington, he added.The schedule has not been fixed for the Washington meeting, which is to be co-hosted by Deputy Chief of the General Staff of the Chinese People's Liberation Army Ma Xiaotian and U.S. Under-Secretary of Defense Michele Flournoy, Guan said.Commenting on the on-again-off-again military ties between China and the United States, Guan stressed that the main obstacle is Washington's arms sales to Taiwan.During talks with Gates, the Chinese defense minister said it is important for the two countries to respect each other's core interests and major concerns, consolidate mutual trust and decrease suspicion and misjudgment, and properly settle differences and sensitive issues in order to keep bilateral military ties in a healthy track.

SHIJIAZHUANG, Sept.10 (Xinhua) -- Chinese Premier Wen Jiabao on Friday, the nation's Teachers' Day, called on teachers to dedicate themselves to rural education, improving teaching standards and contributing to the modernization of the country's education program.Wen made those remarks during a visit to a middle school in Xinglong County of north China's Hebei Province, which is about 135 km from Beijing.Teachers play a key role in primary education, which lays the foundation for a country's development, Wen said, adding that Chinese teachers had made contributions to the country's education cause and modernization drive through hard work and selfless devotion.Wen stressed it was important to improve rural education as it is a matter concerning the long-term development of rural areas and the improvement of people's skills.Persistent efforts would be made to ensure students in rural areas have universal access to schooling and modern education, he said.In 2007, China decided to waive tuition fees for students training to become teachers at six top teaching universities in Beijing, Shanghai, Changchun, Wuhan, Xi'an and Chongqing.To be eligible for free tuition, the student must agree to work at a primary or middle school for at least ten years after graduation and spend the first two years in a rural school.The first group of students who enrolled under the tuition-free program are scheduled to graduate next summer.Eight students from the Beijing Normal University who are in the program joined Wen in his visit to the rural school Friday.Wen urged the students from the university to develop a better understanding of China's rural area, contribute to rural education and help build their hometowns into better places after graduation.The premier asked them to make rural education their career and prepare themselves for hardships and challenges.He said the government would continue its support to the program of tuition-free education for normal school teachers and provide them with opportunities of receiving further education and grant favorable policies in employment.
BEIJING, Sept. 2 (Xinhua) -- A senior Chinese general Thursday met with the head of a leading U.S. think tank and discussed the building of strong military ties between the two countries, despite military exchanges between the two nations having been frozen since January."A sound and stable China-U.S. military relationship is good for bilateral strategic trust and regional peace and stability," Deputy Chief of the General Staff of the Chinese People's Liberation Army (PLA) Ma Xiaotian told John Hamre, president of the Washington-based Center for Strategic and International Studies (CSIS).Hamre served as the U.S. deputy secretary of defense during the Clinton administration before joining CSIS in 2000.Hamre is in China at the invitation of a leading Chinese think tank, the China Institute of Contemporary International Relations, for an academic symposium."China has always attached great importance to developing military ties with the United States and has made efforts in this regard," Ma told Hamre."Stronger military-to-military ties will be a very good thing for the two countries...We should have broader and deeper contact," Hamre said.On growing bilateral military ties, Ma proposed both sides respect each other's core interests and major concerns.Both sides should also properly handle differences and sensitive issues, Ma added.Hamre said China's prosperity contributes to the world, adding that the PLA's development is "logical."The former U.S. defense official said it is necessary for the two militaries to maintain candid communication to keep stable military relations.
BEIJING, Sept. 21 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 113 basis points, or 0.17 percent, Tuesday to a new record high at 6.6997 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Tuesday's yuan central parity against U.S. dollar beat the previous record of 6.7110 per U.S. dollar on Monday and extended the Chinese currency's gains to eight consecutive trading days.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Tuesday's central parity, the Chinese currency has strengthened against the U.S. dollar by 1.87 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.According to Tuesday's central parity rates, the yuan's value strengthened against all the currencies within its basket with lower rates.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 8.7522 Tuesday, lower from 8.7595 Monday.The yuan's rate against 100 yen was 7.8204 Tuesday, compared with 7.8275 Monday.The Chinese currency soared 814 basis points against the British pound with the central parity rate being set at 10.42 from Monday's 10.5014.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.
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