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BEIJING, Feb. 25 (Xinhua) -- China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar .Foreign Ministry spokesman Qin Gang made the comment Thursday when responding to questions on China's sale of U.S. Treasury securities last December.Qin said the issue should be viewed from two perspectives.He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the U.S. dollar, Qin said.The way to view the issue was similar to doing business, he said.China trimmed its holdings of U.S. debt by 34.2 billion U.S. dollars in December 2009, leaving Japan the largest holder of U.S. Treasury securities, the U.S. Treasury Department reported on Feb. 16.As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. Treasury bonds.

BEIJING, March 6 (Xinhua) -- A 17 percent year-on-year increase in China's broad money supply, and a target of 7.5 trillion yuan (1.1 billion U.S. dollars) for this year, indicated a relatively easy monetary policy, said Su Ning, deputy governor of the People's Bank of China, the country's central bank.Speaking on the sidelines of the ongoing annual session of the top legislature, the National People's Congress (NPC), Su said the 17 percent increase in the nation's broad money supply was larger than the combined increase of targeted GDP and CPI growth, which suggested an "easy" monetary policy."If M2 (the broad measure of money supply) growth is 2 to 3 percentage points higher than the combined growth of GDP and CPI, the monetary policy could be seen as easy," said Su.Chinese Premier Wen Jiabao said Friday, in the government work report submitted to the NPC, that China targeted an approximate 3 percent rise in consumer prices and 8 percent GDP growth this year.Su further believed the 17 percent increase in the broad money supply would be able to support the ongoing economic recovery throughout the country.China's financial institutions lent a record 9.6 trillion yuan in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy amid the global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.Su said the 7.5 trillion yuan in new lending this year should speed up completion of projects under construction, rather than support new projects.

BEIJING, March 2 (Xinhua) -- A senior public security official of China on Tuesday urged relevant departments and local authorities to do a good job in ensuring security and maintaining stability as the annual national parliamentary and advisory sessions approach.All local authorities and relevant departments should make further efforts to ensure the meetings of the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC) go on safely and smoothly, Yang Huanning, administrative vice minister of public security, said at a national teleconference."The task of ensuring security and maintaining stability during the two sessions remains onerous" despite previous efforts in this regard, said Yang."We should keep clear-minded and never lower our guard," Yang warned.He urged local officials to do more work in dissolving social conflicts and try to root up troubles that may disturb stability.The vice minister also ordered to minimize the inconvenience that security measures might cause to people's life and work.Incidents that might disturb social stability and threaten security should be handled properly and strictly according to the law, Yang warned.Huang Ming, vice minister of public security, demanded at the same meeting emergencies and breaking events be dealt with promptly and properly.The annual full session of the CPPCC National Committee, the top advisory body, is slated to open Wednesday afternoon, while that of the NPC, the national legislature, is scheduled to open Friday.

SEOUL, Feb. 17 (Xinhua) -- South Korea plans to launch a joint research with China and Japan on the feasibility of a free trade agreement (FTA) among the three Northeast Asian countries, South Korea's foreign ministry said Wednesday.According to a report by the ministry, the country, which has been seeking an economic integration of the Northeast Asian region by creating favorable conditions for FTAs, will kick off a joint study with the countries, in which government officials, scholars and business representatives will participate.Along with the trilateral FTA, the country will also continue to push for settling separate bilateral trade agreements with China and Japan, the ministry said in the report.Currently, South Korea has free trade agreements with Chile, Singapore and the European Free Trade Association, as well as a similar pact with the Association of Southeast Asian Nations.Recently reaching a free trade deal with the European Union, the country also wrapped up its free trade talks with India, settling the so-called comprehensive economic partnership agreement (CEPA) in August.With respect to the free trade deal with the United States, signed in June 2007, both countries are waiting for legislative approval.South Korea is also seeking similar trade deals with Australia, Canada, and Mexico.

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