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CHENGDU, Nov. 12 (Xinhua)-- The reconstruction of the Erwang Temple, which was damaged in the Wenchuan Earthquake in 2008, is expected to finish on Nov. 18 in southwest China's Sichuan Province, according to local heritage protection authorities on Friday.Sitting in the Yulei Mountains in Dujiangyan City, Erwang Temple was built over 2,000 years ago to commemorate Li Bing and his son, the two engineers who built the Dujiangyan irrigation system, which was listed as a World Heritage site in 2000.The temple will soon be partially open for visitors and the final touches are being added to the water supply, drainage system and lavatories in these areas, said Fan Tuoyu, deputy chief of the Dujiangyan Cultural Relics Administration.The entire temple will be opened after the Chinese Lunar New Year, which falls on Feb. 3, 2011, said Fan.The reconstruction project kicked off in June, 2008 with an investment of 126 million yuan (19 million U.S. dollars) from the central budget.The temple was seriously damaged in the Wenchuan earthquake with almost all the ancient buildings having collapsed.
BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.
SHANGHAI, Jan. 16 (Xinhua) -- The Shanghai municipal government bore unshirkable responsibility for a high-rise fire that took 58 lives two months ago, Mayor Han Zheng said Sunday at the city's parliamentary session.Though the final investigation report on the fire has not been released, the accident exposed chaos and a lack of safety supervision in the construction market, for which the government was responsible, Han said in a report to the annual session of the Shanghai Municipal People's Congress, the local legislature.Han said his government would draw lessons from the incident and strengthen management and supervision to ensure work safety.The fire on Nov. 15, 2010 engulfed a 28-story residential building in Shanghai after welding sparks set nylon netting and scaffolding on fire.Officials blamed the fire, that killed 58 people, on unlicensed welders, illegal sub-contracting and poor management.On Jan. 11, the Shanghai municipal government issued new regulations to tighten supervision of the city's construction industry.The 22-article regulations covered eight aspects, such as construction processes, risk control, contractor management and government supervision.
TIANJIN, Dec. 31 (Xinhua) -- A subway train of six cars being assembled rolled off a production line Friday at a production base in north China's Tianjin Municipality, according to China South Locomotive & Rolling Stock Corporation (CSR).The subway train is the first of the kind ever produced at the CSR Tianjin Industrial Park, said CSR's chairman, Zhao Xiaogang.The train, designed to run at a speed of 80 km per hour, has a holding capacity of 1,800 passengers. It will will be used in Tianjin's Subway Line 3, which will begin service in 2011.The production base, with an initial investment of 3 billion yuan (455 million U.S. dollars), can produce 100 to 200 trains a year. It will attain a capacity of producing 500 trains annually in the next five years, according to Zhao.Analysts say the base's first product marked Tianjin's efforts to encourage the development of modern and more advanced industries in the city.The production base will boost the development of emerging industries in Tianjin and contribute to China's economic transformation, Zhao said.CSR, a state-owned company with more than 80,000 employees, produces about 70 percent of all high-speed trains China.
BEIJING, Dec. 29 (Xinhua) -- Chinese President Hu Jintao has stressed the need to stabilize commodity prices, extend the coverage of the social security network and boost employment to ensure the country develops in a comprehensive, coordinated and sustainable manner.Hu made the call Tuesday when presiding over lectures on economic development attended by members of the Political Bureau of the Communist Party of China (CPC) Central Committee.The lectures were given by two researchers respectively from the National Development and Reform Commission and the Chinese Academy of Social Sciences.Efforts should be made to establish a long-term mechanism that increases consumptions, renovate and upgrade traditional industries, and cultivate and support strategic emerging industries, Hu noted.Hu, also general secretary of the CPC Central Committee, called for deepening of the country's reform and opening up, adding that improving people's livelihood and ensuring their well-being, promoting economic growth and maintaining social stability are the Party's top agenda.Hu said impetus should be given to the development of the service industry as well as to the coordination of regional development, and vigorous yet steady endeavors should be made to advance urbanization.Hu also called for efforts to embrace reform and innovation in the country's economic, political, cultural and social systems and urged local authorities to seek opinions and advice from the people in formulating regional development blueprints.Further, Hu asked CPC officials to cement their ties with the people and do practical things for the public.