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BEIJING,Aug 9(Xinhuanet) -- China's high savings rate is expected to fall substantially in coming years as its workforce shrinks, the population ages and social security spending increases, a BIS report shows.In research published by the Bank for International Settlements (BIS) on the “myth and reality” of China’s savings rate, Ma Guonan and Wang Yi found that the Asian giant needs its population to spend more in order to sustain rapid economic growth in coming years.The researchers, who were writing in their personal capacity, also reject claims that Chinese State firms have been benefiting from high savings thanks to exchange rate distortions and subsidies designed to drive economic growth.They point out that “less advantaged” and more efficient firms have been the ones posting the greatest gains in earnings in recent years rather than State-owned companies.China’s gross national savings soared from 39.2 percent of output in 1990 to 53.2 percent in 2008, far higher than the United States, which saved only 12.2 percent in 2008.Even compared to other Asian giants — Japan with 27 percent in 2007 and India with 33.6 percent in 2008 — China’s share of savings as a percentage of gross domestic product (GDP) is significantly larger.Nonetheless, the population and social trends that have underpinned China’s growth and savings rates are likely tail off significantly over the next decade, the two Chinese researchers argued.In the wake of the global slump, world leaders and economists have been asking China to spend more, rather than pin its economic growth on exports to the West, in order to help address world trade imbalances.Ma, a BIS economist and Wang, who is from the Chinese central bank, said however that the current savings trend by Chinese households will not last.The swelling working population in recent years has boosted savings in recent years, they said.In addition, large-scale corporate restructuring between 1995 and 2005 increased job uncertainty, forcing workers to set aside more money in case they were fired. The lack of a social safety net also pushed workers to make “precautionary savings.”Beyond households, government savings have also been increasing in tandem, as more is being set aside to meet pension needs which are expected to rise significantly as the population ages.However, these trends are expected to be reversed in coming years.“It is reasonable to assume that the large-scale labor retrenchment observed during 1995 to 2008 is by and large been behind us,” say the researchers.In addition, China is expected to enter into a phase of “accelerated population ageing within a decade.” This means that the workforce will decline, leading to a fall in overall income and therefore savings.At the same time, infrastructure spending is expected to continue, in order to provide for the ageing population and the urbanization of the country.

BEIJING, June 10 (Xinhua) -- Chinese and Lao leaders agreed here Thursday to bolster ties between the two countries and ruling parties.Top Chinese legislator Wu Bangguo and State Councilor Liu Yandong reached the consensus with Samane Vignaket, a Political Bureau member of the Lao People's Revolutionary Party Central Committee during their meetings in Beijing."It's of great significance for the two ruling parties to strengthen exchange and cooperation on party-building ... as China and Laos are both going through a critical period of development," said Wu, chairman of the Standing Committee of the National People's Congress.Wu, also Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, hailed China-Laos political and economic ties, saying the relationship had progressed to a new stage. Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, also Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with Samane Vignaket, a Political Bureau member of the Lao People's Revolutionary Party Central Committee during their meeting in Beijing, capital of China, June 10, 2010.He proposed the two parties and countries expand cooperation in a bid to further bilateral ties.Samane told Wu that Laos was encouraged by China's reform and opening-up. He appreciated China's assistance and vowed to enhance all-round cooperation with China.The Lao People's Revolutionary Party will learn from the CPC's experience and seek a development mode that fits the country's own domestic situation, said Samane, who is in charge of the party's ideology, theory and culture branch.

ZHOUQU, Gansu, Aug. 12 (Xinhua) -- The death toll in the massive mudslide in northwest China's Gansu Province has risen to 1,144, with 600 still missing as of 4:30 p.m. Thursday, the provincial department of civil affairs said late Thursday.The toll rose from 1,117 on Wednesday.Overnight downpours triggered new floods and mudslides to the mudslide-devastated town of Zhouqu in Gannan Tibetan Autonomous Prefecture, leaving three people missing.Floods also have left eight people dead and eight others missing in two counties in Gannan's neighboring city of Longnan on Thursday.

BEIJING, June 30 (Xinhua) -- The Communist Party of China (CPC) on Wednesday launched an online database on Marxist theory by uploading the Party's major political doctrines to an Internet website, an effort that analysts said is promoting its ideology through information technology.Uploaded contents to www.ccpph.com.cn include collected works in Chinese of Karl Marx, Frederick Engels, Vladimir Ilyich Lenin, as well as former CPC leaders Mao Zedong, Deng Xiaoping and Jiang Zemin.All the works are available free of charge for Internet users to read, while visually impaired readers can listen to recorded voices reciting the content in Chinese.The website also contains dozens of works explaining the doctrines, research of the communist party as well as the CPC's important documents, files and speeches of General Secretary of the CPC Central Committee Hu Jintao and other current leaders.The database is sponsored by People's Publishing House, copyright owner of those Chinese works and major publisher of translated works of foreign political figures in China.Liu Binjie, Director of General Administration of Press and Publication, said that the official launch of these works on the Internet would expand the spread of Marxist theories.The world has entered an era when information, digitalization and other new communication methods are booming, said Huang Shuyuan, president of the People's Publishing House.The more advanced and powerful communication methods a party uses, the more influential it will be, Huang said.To help online readers find a classic Marxist reading, the database of the website provides a smart search function which finds the origin based on fractional words that readers input."It will greatly help researchers on Marxist doctrines like me, since many of those works could only be available in libraries," said Professor Zhang Guangming with the School of International Relations of Peking University."We could search for information about Marxist works at any time in my reading room," Zhang said.Prof. Zhang Xixian with the Party School of the CPC Central Committee said that the online database represents a new trend for the Party to promote its theories in a more attractive way.By the end of last year, the number of Internet users in China had reached 384 million users, covering about 28.9 percent of the country's total population.Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee, also attached great importance to the publication of the Party's theories by using multimedia technologies.The People's Publishing House plans to digitalize its 3.6 billion-word Marxist theories books within two years to complete the database and provide it free of charge to the public.