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BEIJING, June 11 (Xinhua) -- China's retail sales, the main gauge of consumer spending in the world's fastest-growing economy, rose 18.7 percent year on year to 1.25 trillion yuan (183 billion U.S. dollars) in May, the National Bureau of Statistics (NBS) announced Friday.The growth rate was 3.5 percentage points higher than the same period last year and 0.2 percentage points higher than April's, said NBS spokesman Sheng Laiyun.Urban consumption hit 1.08 trillion yuan in May, up 19.1 percent year on year, while rural residents spent 163.7 billion yuan, up 15.8 percent.  A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.In the first five months, total retail sales climbed 18.2 percent to 6.03 trillion yuan. The growth rate was 3.2 percentage points higher than the same period last year.The government rolled out a series of incentives to bolster consumption to counter the fallout from the global economic downturn, including subsidies for home appliances in rural areas and tax breaks for auto purchases, in early 2009, among others.China's auto sales in May rose 28.35 percent from a year earlier to 1.44 million units, bringing combined sales in the first five months to 7.6 million units, up 53.25 percent from a year earlier.Monthly sales of home appliances in China's countryside surged 220 percent year on year in May to 12.6 billion yuan. The figure for January-May period was 54.35 billion yuan, up 400 percent from year on year.

BEIJING, June 21 (Xinhua) -- A senior Communist Party of China official Monday said China is ready to enhance cooperation with the Democratic People's Republic of Korea (DPRK).Li Yuanchao, head of the Organization Department of the CPC Central Committee, made the remarks when meeting with a delegation of the Workers' Party of Korea, which was led by Kim Chang Ryong, the DPRK's Minister of Land and Environment Protection, in Beijing.Hailing the constant growth of China-DPRK relations, Li, a member of the Political Bureau of the CPC Central Committee and the Secretariat of the CPC Central Committee, reviewed the successful visit by the DPRK top leader Kim Jong Il in May.Chinese President Hu Jintao and Kim Jong Il reached important consensus on promoting bilateral pragmatic cooperation during that visit.China would work with the DPRK to fulfill the consensus and expand bilateral cooperation to push forward China-DPRK relations, Li said.Kim Chang Ryong said the DPRK held the unswerving policy of cementing and promoting friendship with China. The DPRK would work with China to enhance ties in accordance with the willingness of top leaders from both sides.The DPRK delegation is in China on a visit from June 12 to 22 at the invitation of the CPC. Besides Beijing, they also visited north China's Tianjin Municipality, and Dalian and Shenyang, both cities in northeast China's Liaoning Province.Wang Jiarui, head of the International Department of the CPC Central Committee, met with the delegation earlier Monday.

BEIJING, June 23 (Xinhua) -- Chinese banks should set up an independent risk management system in line with its strategic expansion plan as part of efforts to ward off financial risks, China's banking regulator said Wednesday.The breakout of the global financial crisis highlighted the necessity of increasing management of differentiated sovereign risks, the China Banking Regulatory Commission said in a guideline published on its website.Just as Chinese banks were expanding throughout the world, the overseas risks they were facing were on the rise, the guideline noted.Sovereign risks refer to ones that banks are exposed to when overseas borrowers or debtors are unable to repay debt because of their countries' economic, political and social changes.Chinese lenders were required to differentiate risks according to the countries involved and make policies on the minimum potential loan loss provisions ranging from 0.5 percent to 50 percent, according to the guideline.The banks must meet the requirements under the guideline by June 1, 2011.

BEIJING, Aug. 6 (Xinhua)-- China firmly opposes any remarks and actions that violate its sovereignty over Xisha Islands and adjacent waters in the South China Sea, said Foreign Ministry spokeswoman Jiang Yu here on Friday.Jiang made the comment after Vietnamese foreign ministry spokeswoman Nguyen Phuong Nga said Thursday, according to media reports, that Chinese vessels' seismic exploration activities near Xisha Islands had violated Vietnam's sovereignty."China has indisputable sovereignty over Xisha Islands and adjacent waters," Jiang reiterated in a news release.

CHENGDU, Aug. 17 (Xinhua) -- The massive mudslide that hit Wenchuan County, southwest China's Sichuan Province, Saturday had killed 15 people and injured nine others by Monday, local authorities said Tuesday.Wenchuan County was the epicenter of the 8.0-magnitude earthquake that jolted Sichuan and other neighboring provinces in west China in May 2008. The quake left some 87,000 people dead or missing.The county, which falls under the jurisdiction of Tibetan and Qiang Autonomous Prefecture of Aba, was ravaged by rain-triggered floods and mudslides Saturday.At least 31 people were reported missing following the mudslide, but whether the 15 deaths were included was not known, according to a statement issued by the county government of Wenchuan.More than 50,000 residents and tourists were forced to evacuate in Aba as the local meteorological station issued warnings beginning Friday about expected heavy rains and possible geological disasters.Also, the county government of Wenchuan has arranged temporary shelters for residents left homeless by the floods.In Yingxiu Township of Wenchuan, rows of newly completed homes were submerged by the overflowed Minjiang River which runs through the town. The new homes had been built to accommodate those residents relocated outside Yingxiu after the deadly earthquake.If the flooding had not occurred, Lian Qunhua, who opened a grocery in the town, would have received the key for her new home in two weeks."This used to be my home," Lian told a Xinhua reporter, pointing to some debris in front of her. "That is my new home," she said, indicating a row of fresh new buildings soaked in the flood waters on the opposite bank of the Minjiang River."I feel hurt, indeed," she lamented.