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SINGAPORE, Nov. 15 (Xinhua) -- Visiting Chinese Vice President Xi Jinping met here on Monday with Singapore Prime Minister Lee Hsien Loong. Both leaders reaffirmed the close and cooperative relationship shared by Singapore and China.Xi's visit caps a series of high level exchanges as the two countries celebrate the 20th anniversary of diplomatic ties. During the meeting, Xi said China and Singapore have increased mutual understanding and expanded cooperation since the establishment of diplomatic relations. China has drawn useful experience from Singapore's development as it undertakes reform, opening-up and the modernization drive. At the same time, China's increasing national power has provided broad market and huge potential for Singapore's continuous development.The good neighborly and mutually beneficial cooperation contributes to the interests of both people, and to the peace and prosperity of Asia as a whole, he said.Xi said China highly values the Sino-Singapore relationship and is willing to join hands with Singapore to bring the bilateral relations to a new level. He noted that the two countries should maintain high level exchanges, make full use of the existing bilateral cooperative mechanisms and projects, increase sharing of governing experiences and people-to-people and cultural exchanges, strengthen cooperation in regional and international affairs.Lee agreed with Xi on his suggestions to develop bilateral relations. He said the two countries have forged close cooperation in various areas, adding that Singapore is willing to further enhance cooperation with China in bilateral and multi-lateral areas.After the meeting, Lee and Xi witnessed the signing of the following three agreements: the Memorandum of Understanding (MOU) between the National Heritage Board of the Republic of Singapore and the State Administration of Cultural Heritage of the People's Republic of China on Museum Cooperation; the Agreement on the Details of Implementation between the National University of Singapore and Suzhou Municipal Government (Suzhou Industrial Park Administrative Committee) on the Joint Establishment of the National University of Singapore (Suzhou) Research Institute; and the MOU on the Establishment of a Cooperative College by the Nanyang Technological University (NTU) in Sino-Singapore Tianjin Eco-city.At the invitation of Singapore Prime Minister Lee Hsien Loong, Xi arrived in Singapore on Sunday for a three-day official visit.
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.
BEIJING, Nov. 24 (Xinhua) -- Senior Communist Party of China (CPC) official Liu Yunshan met in Beijing Wednesday with a delegation of the Peruvian political party Fuerza 2011, led by Ex-President Alberto Fujimori's daughter Keiko Fujimori.Liu spoke positively of the development of Sino-Peruvian ties in recent years, noting that the establishment of the bilateral strategic partnership in 2008 signalled bilateral relations had entered a new phase.Liu, who is a member of the political bureau of the CPC Central Committee and also chief of the Publicity Department of the CPC Central Committee, said the CPC was willing to develop friendly relations and cooperation with Fuerza 2011 on the basis of independence, equality, mutual respect and the principle of non-interference in each other's internal affairs. Liu Yunshan (R), a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the Publicity Department of the CPC Central Committee, meets with Keiko Fujimori, chairwoman of the Peruvian political party "Fuerza 2011", in Beijing, capital of China, Nov. 24, 2010.He hoped exchanges between the CPC and Fuerza 2011 would boost the development of the bilateral relations.Fujimori, who is chairwoman of the Peruvian party, Fuerza 2011, said her party hoped to forge and develop friendly relations with the CPC.She also hoped Fuerza 2011 would share experiences with the CPC in state-governing and administration, and jointly push forward the bilateral strategic partnership.
HAIKOU, Jan. 10 (Xinhua) -- China will provide more support for the country's religious communities in their international exchanges and communications, said Wang Zuoan, director of the State Administration for Religious Affairs.Wang made the remarks at the 2011 national conference on religious work held in South China' s Hainan Province on Monday.The administration will actively support religious circles in China to promote the concept of religious harmony during the first World Interfaith Harmony Week, which has been recognized by the United Nations and will be held in the first week of February, Wang said.Additionally, Wang said that the country is working to streamline the social security system to further benefit religious personnel.