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BEIJING, Dec. 26 (Xinhua) -- With the New Year and China's Spring Festival approaching, China will improve efforts to stabilize prices and ensure abundant supply of essential commodities, according to an official circular issued Sunday.Cracking down on price speculation and related market manipulation should be high on agenda of governments at all levels, according to the circular issued jointly by the General Offices of the Communist Party of China (CPC) Central Committee and the State Council, or China's Cabinet.The circular also urged for improved supervision on the food and medicine market and demanded work concerning water, power, oil, gas and heating supplies to be handled well.It called on related departments to distribute subsidies for low-income groups in a timely way and make arrangements to help people, especially those in disasters-hit areas, to get through the winter with enough supply of necessities.Party and governmental organs should abstain from extravagance and embezzlement of public fund must be strictly prohibited, it said, ordering discipline inspection authorities, auditing agencies and finance departments to enhance supervision.According to the circular, special inspection campaigns will be launched in sectors, including mining, transportation, construction, and fireworks manufacturing, to tighten safety measures and prevent accidents.Stressing security in passenger transportation, the circular said cargo overloading, using fatigued operators or running unlicensed transportation operations are prohibited.It further called for efforts to safeguard social order and to combat violent and mafia-style crimes, property embezzlement and economic crimes.

BEIJING, Dec. 31 (Xinhua) -- On the last trading day of 2010, the Chinese currency, the yuan, strengthened to a record high for a second consecutive day, at 6.6227 per U.S. dollar, after 11 consecutive days of gains.The central parity rate of the currency, also known as the renminbi (RMB), was set two basis points stronger than Thursday's 6.6229, according to the China Foreign Exchange Trading system.China's central bank announced on June 19 it would further reform the formation mechanism of the yuan exchange rate to improve its flexibility.

BEIJING, Jan. 8 (Xinhua) -- Just about two months ago, with a few clicks of the mouse, Chen Ying was able to watch her favorite American TV series, The Vampire Diaries or Gossip Girl, online for free.Like Chen, an employee of a foreign-invested company in Shanghai, many U.S. TV series fans in China have little choice but to watch video clips online because domestic cable channels do not broadcast copyrighted ones. Some even volunteer to upload clips onto video-sharing websites without any charges.But now Chen can rarely find such unauthorized online videos of foreign TV series.In November 2010, the State Administration of Radio, Film and Television (SARFT) announced a ban on any forms of trading and supplying unauthorized foreign TV series.Along with the ban, the Ministry of Culture launched a six-month nationwide crackdown on counterfeiting in October to halt the theft of intellectual property rights (IPRS) and promote public awareness in IPRS protection.In response, China's major video-hosting websites, including Youku.com, Tudou.com and Ku6.com, removed unauthorized foreign TV series videos.A podcastor, using an online name "Xueselaoxie" on the Nasdaq-listed Youku.com, said some 7,000 unauthorized videos of American TV series he had uploaded were deleted by the website in one night.To fans of foreign TV series, the ban might be a nightmare. But to the country, it was an important step in fighting IPRS infringement, said Li Yongqiang, assistant to CEO of Beijing Baofeng Inc., a provider of online video-hosting service.Similar regulations were issued earlier. But never had they received as many reactions as did this one, Li said."I checked some portals after the ban became effective. Some websites removed all the unauthorized videos of American TV series in just one night," Li said."I believe the entire online video-sharing industry had realized the importance of a healthy development environment, and people's awareness of IPRS will be raised," Li said.Following the order from the central government, many provinces beefed up their efforts in cracking down on online IPRS infringement.In northeast China's Jilin Province, the provincial copyright administration shut down two websites, o2sky.com and imdj.net, after they were found illegally providing unauthorized videos of South Korean movies.The ban has resulted in a reshuffle of online video-sharing industry in China, with major domestic websites gearing up to offer copyrighted imports of TV series and films.Sohu TV offered many copyrighted online videos of American TV series, including Gossip Girl, the Big Bang Theory and Nikita, after signing agreements with Warner Bros..Youku.com signed agreements with three major South Korean TV stations - MBC, KBS and SBS. It has also purchased rights from Warner Bros. to stream the hit movie "Inception," and charged five yuan (about 75 U.S. cents) for each view.Additionally, Tudou.com is trying to produce its own films and TV series."From website operators to video producers, content copyright has become more crucial to the survival of video portals," said Li Shanyou, CEO of Ku6.com."It's good to protect IPRS, but I would still like to watch the TV series online for free," said Cui Shan, a citizen of Changchun, capital city of Jilin Province."Definitely there are markets for foreign TV series or movies in China," Cui said. "I think those websites should import more copyrighted movies and keep offering them at a low price to win markets."China now has more than 200 million video website users and the market is growing, said Li Yongqiang. More paid online video programs will emerge as the cost of importing authorized films and TV programs rises.Li said it is likely that video-sharing websites join hands to import copyrighted programs from overseas in order to lower the cost of watching TV series online."But after all, the spirit of the Internet is to share resources. So as China's online video industry becomes more regulated, more resources should be encouraged to be shared for free on the Internet, " Li said. 

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. 18 (Xinhua) -- Chinese Vice Premier Wang Qishan on Thursday agreed with U.S. Commerce Secretary Gary Faye Locke and Trade Representative Ron Kirk to enhance bilateral trade cooperation.In their latest phone talks, the two sides exchanged views on the China-U.S. economic and trade relations and other issues of common concern.They agreed to deepen communications and cooperation in order to guarantee a successful outcome of the forthcoming 21st session of the China-U.S Joint Commission on Commerce and Trade (JCCT) and lay a favorable foundation for a state visit by Chinese President Hu Jintao to the United States slated for early next year.The JCCT was established in 1983 as a platform for the two countries to promote trade relations and address issues of mutual concern. The last session was held in the eastern Chinese city of Hangzhou in October last year.