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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, April 17 (Xinhua) -- Chinese Vice Premier Hui Liangyu on Saturday called for more concrete measures in quake relief efforts in response to the instructions of China's top leadership.Hui, also the head of the State Council's quake-relief headquarters, made the remarks at the sixth plenary meeting of the headquarters.China's top leadership on earlier Saturday has urged all-out efforts to rescue trapped people in the quake zone in northwestern Qinghai Province at a meeting chaired by Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, and attended by other members of the Standing Committee of the Political Bureau of the CPC Central Committee.Hui stressed a put-people-first principle in the relief work. Efforts to search for and rescue the buried survivors as well as offering medical treatment to the injured people are still the top priorities, Hui said.The relief work should be carried out in a scientific, orderly, effective and well-organized way, Hui said. There should be no "blind spot" in the rescue work and epidemic prevention, he said.Military forces, local authorities and the local people should keep in close cooperation in the relief work, he said.

BEIJING, April 19 (Xinhua) -- China's Vice President Xi Jinping Monday told members and organizations of the Communist Party of China (CPC) they had strict responsibilities in restoring normal life in quake-stricken Qinghai Province and helping the survivors.Xi, a member of the Standing Committee of the CPC Central Committee Political Bureau, made the requirements at a meeting of senior CPC leaders in Beijing on Party building.Party members, officials and organizations responsible for civil affairs should make sure quake-affected people have enough food, clothes, drinking water and shelters, Xi said.CPC members, officials and organizations working in health-care fields should treat the injured and prevent disease outbreaks, while members working in education should work to resume school classes, Xi said.Other CPC officials and members in transport, electrical power and telecommunications should make efforts to repair infrastructure, and restore power, water supplies and road transport as soon as possible.He Guoqiang, head of the CPC Central Commission for Discipline Inspection, who was also present at the meeting, underlined disciplinary rules for quake relief work.

CHENGDU, May 24 (Xinhua) -- Top legislator Wu Bangguo has told authorities in Sichuan Province that post-quake reconstruction should continue to be the top priority.Wu, chairman of the National People's Congress Standing Committee, made the remarks when visiting the quake zone in southwest China from May 20 to 24. The 8-magnitude quake on May 12, 2008, has left more than 80,000 people dead or missing."Restoration and reconstruction in the quake zone must continue to be on top of Sichuan's economic and social development agenda," Wu said.Wu Bangguo (L), Chairman of the National People's Congress (NPC) Standing Committee, visits local people of Qiang ethnic group in Dongjienao village of Wenchuan County of southwest China's Sichuan Province during an inspection tour of the quake-hit areas in Sichuan, May 21, 2010.He said efforts should be made to build the quake zone into a new economic growth engine, as well as a model of the changing development pattern and model for low-carbon usage.Visiting rebuilt communities, schools and factories, Wu told local authorities to ensure the quality and safety of reconstruction projects and stressed the supervision of reconstruction funds.Permanent residential houses for more than 5.3 million households have been rebuilt since the quake, as well as 86 percent of the schools.He also said governments in the quake-hit areas should work closely with development partner provinces and cities, and accelerate industrial upgrading.

GUANGZHOU, May 16 (Xinhua) -- A senior official of the Communist Party of China (CPC) has called for more efforts in improving the country's innovation capabilities to accelerate the transformation of economic growth pattern.Li Changchun, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks while making an inpsection tour to south China's Guangdong Province from Thursday to Sunday."Indigenous innovation is the way out for an expedited transformation of the economic growth pattern," said Li, who told the local government officials to persist in the transformation of the economic growth pattern as a key element and strategic step in implementing the scientific outlook on development.Li called on the local authorities to make great efforts in expanding the culture sector and get inspriration from doing so to keep improving quality and efficiency of economic development, trying hard to find new ways for China's sound and fast development of economy and society in the post-crisis era after the global financial downturn.Li hoped Guangdong to pay equal emphasis on construction of iconic cultural projects and on building of cultural life at grassroots level. Efforts should be made to explore new ways for advancing administration of public cultural organizations and ways of service, to greatly enrich spiritual life of the broad masses of the people, he said.Li stressed that it is imperative to improve mechanism of cultural market and establish platforms for evaluation of cultural assets, trading of property rights and venture capital investment in areas where conditions become mature."Pricing of cultural products should also be perfected so that more social funds are attracted to the cultural sector," said Li.During his inspection tour in Guangdong, Li visited places including Guangzhou, the provincial capital, Yangjiang and Shenzhen, and inspected enterprises, units of publicity and culture, as well as construction sites of venues for the 16th Asian Games scheduled for Nov.12-27.