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A vice-governor of China's central bank, Xiang Junbo, is expected to take the helm at the Agricultural Bank of China (ABC) to steer it through its shareholding reform in order to secure a market listing.It is not clear what post the People's Bank of China's Xiang will take but Caijing magazine, a leading financial publication, reported that the 50-year-old would be appointed as the governor and the chairman of the board upon the accomplishment of the shareholding reform.Analysts say the new appointment will not lead to immediate moves such as inviting strategic investors or financial restructuring as the bank is widely known to be the worst hit by massive lending to the rural sector, with a non-performing loan rate of 23.43 percent at the end of 2006, far higher than those of the other three state commercial banks, which have all been listed in Hong Kong and domestic A share markets.Before being promoted to the post of vice-governor of the People's Bank of China in July 2004, Xiang spent eight years with the National Audit Office. His background will be constructive to strengthening the risk control of the ABC, analysts say.China initiated the reform of the "big four" banks after the first national financial work conference in 1997. The China Construction Bank took the lead in market listing in October 2005, followed by the Bank of China last year.The Industrial and Commercial Bank of China, the country's biggest lender, staged a dual debut in both Hong Kong and Shanghai bourses on Oct. 27.All three have followed the steps of government capital injections, dealing with non-performing loans, establishing shareholding companies, introducing strategic investors and seeking opportunities for listing. Up to US billion would be needed to clear the bank's non-performing loans before it could meet overseas listing standards, analysts have said. Su Ning, vice governor of the People's Bank of China, replaced Xiang as the chief of the Shanghai Head Office of the PBOC, a central bank statement said on Monday.

BEIJING - China's top legislature on Sunday started to read draft amendment to the Law on Lawyer which aims to make lawyers easier to meet criminal suspects, obtain evidences, improve their moral standards and allow them to open individual law firms. The draft amendment to the Law on Lawyer was on Sunday submitted to the six-day 28th session of the Standing Committee of the National People's Congress (NPC), or China's top legislature, for the first reading.

National guidelines on economically affordable housing were released on Friday night along with new State measures on housing for low-income families, which come into effect on Saturday.Economically affordable houses ought to be around 60 sq m per unit, said the guidelines jointly released by the Ministry of Construction, the National Development and Reform Commission, and five other ministries.It said eligible purchasers will "have limited property rights", and that the apartments can only be directly sold after five years.Moreover, the document limited fundraising for cooperative housing units to independent mining corporations on the outskirts of cities and enterprises with a significant number of employees with housing problems, while stressing that they must do so with their own properties.Eligible applicants of the Measure on Low-rent Housing Security, meanwhile, are no longer limited to city households with the lowest income, but will also include all lower-income urban families with housing issues.Government subsidies, the usual means of securing housing for these social groups, are to be gathered from rental fees on low-rent housing, credit risk reserves, housing provident funds, social donations and security funds. Local governments must also spend 10 per-cent of the local land-use fees on developing low-rent housing, said the measure, released by nine ministries on Monday.Because situations vary across the 656 cities that had adopted the mechanism as of October, the measure allows special funds to be allocated to central and western regions that find it financially difficult to support the construction of low-rent homes.Additionally, the construction area of these apartments, limited to 50 sq m per unit, should be granted preferential status on a stand-alone basis in land supply schemes and annual land-use applications.Months earlier, the central government urged local governments to reserve at least 70 percent of the land designated for residential construction for units under 90 sq m. But since the housing security system is expected to cover all low-income Chinese families by 2010, implementation of the new measure and relevant policies has a long way to go.Figures from the Ministry of Construction show that nearly 10 million households still live in a housing space, per capita, of less than 10 sq m. Up to the end of 2006, only 268,000 families, or 6.7 percent of all households living on a minimum allowance, and 2.7 percent of all low-income households in China, had benefited from low-rent housing policies.Despite a record 7.04 billion yuan (.52 million) of central government investment in low-income housing so far this year, 50 billion yuan is needed every year for the next five years to continue to broaden coverage, the People's Daily reported.To address the housing problems of urban low-income families, for example, Shanghai is to pour in a total of 2 billion yuan in providing 500,000 sq m of low-rent apartments by the end of this year, Shanghai's Jiefang Daily reported on Friday.The money will come from the 8.3 billion yuan coffers of the Shanghai public housing reserve fund.Cong Chen, a staffer at the Department of Policy and Regulation of Shanghai Provident Fund Management Center, confirmed the information.The project, launched last month, has already secured 150,000 sq m of land in Jiading, Baoshan and several other districts in Shanghai, 70 percent of which are completed flats.These flats are said to be lo-cated in areas with comparatively mature transportation and living facilities, such as metro stations and bus stops, for the convenience of low-income tenants, the Jiefang Daily said.

A regional pilot scheme designed to provide basic medical insurance for all urban citizens will go nationwide this year, a senior labor official said Tuesday.A further 229 cities will be added to the scheme this year, Wang Dongjin, former vice-minister of labor and social security and head of a team of experts involved with the pilot, said at a national teleconference.By the end of the year, the scheme will cover 317 cities, Wang said.Dubbed by the public as a lifesaving project, the scheme has been well received by residents in the 88 pilot cities and has brought financial and medical relief to all beneficiaries, he said.Launched in September, the program, as of December, covered 40.68 million people with 620,000 of them already benefiting from it, Wang said.With an average annual premium of 236 yuan () for adults and 97 yuan for children, the scheme will be extended to at least 240 million non-working urban residents, such as children, students, the elderly, the disabled and the unemployed.These groups have been given access to the insurance plan through agents at schools and neighborhood communities, Wang said.For the disabled, home visits will be offered to help them sign up, he said.The premiums are paid by households, instead of individuals, he said. And the government will give subsidies annually to each participant, with more going to families of low-income earners and the disabled.Wang cited a recent survey showing 68 percent of those insured giving it the thumbs up.The poll also found that, between October and December, the number of patients who refused medical treatment for fear of high costs decreased by 10 percent.While subsidized by both central and local governments, the insurance scheme presents both personal and governmental liabilities and cannot be considered a welfare program in its entirety, Vice-Premier Wu Yi said at the conference.Personal contributions to enroll in the scheme cannot be lowered, she said.With the new scheme, China now has a three-layer medicare system, including the health insurance plan for urban employees launched in 1998 and the New Rural Cooperative Medical Scheme launched in 2003.Among those already covered by the medical scheme are more than 10.8 million urban residents in Jiangsu province, almost 4.7 million people in Anhui province, and in excess of 2.2 million urban residents in Gansu province.