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BEIJING, June 24 (Xinhua) -- In effort to enhance its supervisory role, China's top legislature held an inquiry Thursday into the central government's final accounting for 2009, the first-ever inquiry held into a particular matter.On behalf of the State Council, China's Cabinet, several senior officials from the Ministry of Finance, attended the inquiry to answer questions raised by lawmakers at the 15th session of the Standing Committee of the 11th National People's Congress (NPC), the top legislature.The lawmakers focused on issues of general public concern such as how to improve the management of central government's budgeting and accounting, deepen the reform of financial and tax systems, and increase spending on social welfare projects.The decision to order inquiries into government work on certain issues of general public concern, which would require the attendance of senior officials of central government departments, was adopted during the annual NPC session in March.Li Fei, vice chairman of the Legislative Affairs Commission of the NPC Standing Committee, said the inquiry was a concrete and important step for the NPC Standing Committee to exercise and improve supervision of the government.According to the Law on Oversight, which took effect in 2007, senior officials of central government departments, the Supreme People's court and the Supreme People's Procuratorate, if requested, are required to attend legislative meetings to respond to lawmakers' questions over bills or government work reports being reviewed.

BEIJING, Aug. 5 (Xinhua) - The People's Bank of China (PBOC), also known as the central bank, said Thursday it would maintain its moderately loose monetary policy and enhance financial supports to boost the economy's sustainable development.The bank will apply multiple monetary tools to keep an appropriate growth in money supply in a bid to strike a balance between meeting the need of funding economic development and managing the inflation expectation, the PBOC said in a statement posted on its website.The PBOC reiterated it would maintain continuity and stability in monetary policy while, at the same time, making the policy more specific and more flexible.It vowed to improve the yuan's exchange rate mechanism, and increase financial support to promote the transformation of the economic growth pattern and adjustment of the economic structure.China's broad money supply (M2), which covers cash in circulation and all deposits, increased 18.5 percent year on year to 67.39 trillion yuan by the end of June, which marked a slowdown from the 21 percent increase at the end of May, the PBOC said.During the same period, narrow money supply (M1), cash in circulation plus current corporate deposits, climbed 24.6 percent from a year earlier to 24.06 trillion yuan, representing a decrease of 5.3 percentage points from the end of May, according to the PBOC.The bank also warned of potential domestic inflation risks due to complicated situations both at home and abroad.Increases in the costs of labor and environmental requirements, combined with continuing progresses in the reforms in the prices of resource products, will likely impact the inflation expectation.Meanwhile, the central bank pointed out that external 'hot money' may push up price hike pressures."The global monetary situation is relatively loose, as nations across the world have been prudent in their stimulus exits due to continuing uncertainties in the economic recovery. Excessive money is likely to seek various outlets, adding potential risks of inflation expectations," the PBOC said in its statement.

BEIJING, July 11 (Xinhua) -- A Chinese government official said Sunday China had approved renewing the operation license of Beijing Guxiang Information Technology Co. Ltd., operator of Google's China website.The official with the Ministry of Industry and Information Technology (MIIT), who spoke anonymously, told Xinhua that the result of its annual checkup on Google was "Approved after Rectification."Guxiang submitted an application letter to the MIIT on June 29 to renew Google's Internet Content Provider (ICP) license, a permit to run websites in China.In the application letter, Guxiang pledged to "abide by Chinese law," and "ensure the company provides no law-breaking content as stipulated in the 57th statement in China's regulations concerning telecommunications."The statement says that any organization or individual is prohibited from using the Internet to spread any content that attempts to subvert state power, undermine national security, infringe on national reputation and interests, or that incites ethnic hatred and secession, transmits pornography or violence.Guxiang also accepted that all content it provides is subject to supervision of government regulators, said the official.

BEIJING, July 15 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 2.9 percent year on year in June, the National Bureau of Statistics (NBS) announced here Thursday.The figure stood at 2.6 percent in the first half of this year compared with the same period last year, according to the NBS.  A woman walks by a sale advertising poster in Beijing, capital of China, May 11, 2010.

MOSCOW, Aug 20 (Xinhua) -- Trade between China and Russia has returned to the fast track in 2010, as bilateral trade volume reached 30.7 billion U.S. dollars from January to July, Russian and Chinese officials said here Friday.That represented a 49.6-percent increase year-on-year, the officials said at the 13th meeting of the Russia-China inter-governmental trade commission, which was co-chaired by Russia's Economic Development Minister Elvira Nabiullina and her Chinese counterpart Chen Deming.Mutual investments also surged this year, as Chinese direct investment to Russia jumped 58.5 percent during the first half of 2010 and the Russian investment to China up 18.3 percent, they said.Russia is interested in continuing cooperation in such areas as electric power, nuclear energy, logistic infrastructure, Nabiullina said.Chen said Chinese companies are willing to increase investment in Russian enterprises and to take part in their infrastructure construction.He noted that China would take active measures to promote the import of Russian mechanical and electrical products, and also hopes that in return Russia will open its market to more Chinese cars.During the meeting, chambers of commerce and companies from the two countries inked several cooperation agreements.