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BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

SHANGHAI, April 28 (Xinhua) -- After nearly eight years of preparation and six rounds of trial operation, Shanghai is ready for the 184-day World Exposition which opens May 1.Some 189 countries and 57 international organizations have confirmed their participation in the largest-ever expo which is expected to attract more than 70 million visitors from all over the world.During the expo trial, more than one million people savored the charms of the marvelous pavilions at the World Expo site.Yang Xiong, executive vice mayor of Shanghai, said Wednesday, through the expo trial, the organizers gained experience, found problems and made adjustments."We examined facilities, improved systems, trained staff and improved services thanks to the trial rounds," he said.

TOKYO, May 31 (Xinhua) -- Visiting Chinese Premier Wen Jiabao called on Japanese entrepreneurs Monday to make further contributions to the cooperation between the two countries.Addressing a welcome luncheon given in his honor by the Japanese Business Federation, the Chinese premier briefed the participants on what the Chinese government has achieved in tackling the global financial turmoil, as well as China's current economic situation and its major tasks.Wen said great progress has been made in bilateral economic and trade relations since the normalization of diplomatic ties between the two countries in 1972. China and Japan have become a major trade partner to each other, bringing their economic ties increasingly closer and paving the way for a greater future for cooperation.Chinese Premier Wen Jiabao addresses the welcome luncheon held by Japanese business group in Tokyo, capital of Japan, May 31, 2010.Responding to questions from Japanese entrepreneurs, the Chinese premier expressed his hope that the two countries would always keep in mind the long-term development of the bilateral ties, continue to draw on each other's strength, broaden cooperation in energy conservation, environmental protection, circular economy so as to achieve a win-win result.Premier Wen noted that the Japanese business community has all along been committed to promoting the friendly cooperation between the two countries, serving as a major force to boost the bilateral ties and a key link between the two peoples. It is his hope that Japanese entrepreneurs will further contribute to economic and trade cooperation between the two countries.Hiromasa Yonekura, president of the Japanese Business Federation, said Japanese entrepreneurs have confidence in China's future development and are ready to blaze new trails in pushing forward the bilateral economic and trade cooperation.Premier Wen arrived here on Sunday for a three-day official visit. Japan is the second leg of his four-nation Asian tour, which has taken him to South Korea. He will also visit Mongolia and Myanmar.

BEIJING, April 18 (Xinhua) -- The international community is continuously voicing support for China's relief efforts and praising the government's quick response to the strong quake which hit the country's Qinghai province on Wednesday.Condolences kept on pouring in on Saturday and Sunday from leaders of foreign countries and international, regional organizations, who sent messages of support to the Chinese government and people via phone calls, letters and other ways of communications with the Chinese leaders.Expressing his sympathy, Emperor of Japan Akihito said he was deeply saddened by the heavy casualties and property losses in the quake and wished people in quake zones could quickly rebuild their homeland.Irish President Mary McAleese expressed condolences to the Chinese people, and believed that the unity of the Chinese people would render the most powerful support to the recovery of the affected region.Dutch Prime Minister Jan Peter Balkenende said he appreciated the Chinese government's all-out efforts to carry out relief work under extremely difficult circumstances and hoped people in disaster areas could turn grief into strength, and overcome the disaster as soon as possible.Macedonian President Gjorge Ivanov said he believed that with solidarity and unity, the Chinese people would overcome this disaster.

BEIJING, April 30 (Xinhua) -- Overseas Chinese hailed the opening ceremony of the 2010 Shanghai World Expo Friday, saying it was a "perfect example of integration of Chinese characteristics and world diversity.""As an overseas Chinese, I feel so proud to see such a great event being hosted by China, and I feel the same excitement as was in Beijing Olympic games," said He Xiaohui, a Chinese community leader in Washington.She said the performance stage used blue as its main color, a color that represents peace and harmony, which echoes the theme of the expo."The Shanghai Expo could be a good opportunity. On the one hand, it will make the world better understand the world. Meanwhile, and more importantly, it will make the world better understand China."In Germany, Fu Chunping, chairman of the federation of Chinese associations, said he was deeply impressed by (Jean-Pierre Lafan, president of Internatinal Exposition Bureau)'s long sentences of Chinese in his address, which "showed the world's recognition of the Chinese culture."Fu said Chinese people in Germany were proud of the homeland and wished the Shanghai Expo a full success.In Italy, ethnic Chinese got together and watched the televised opening ceremony, describing it as a showcase of China's development.Though a work day, many local Chinese gathered in the Wenzhou Bar in downtown Rome to watch the live broadcast from China's CCTV channel 4.As an organizer of local Chinese, Xiaomin Chen told Xinhua that many Chinese came to the bar earlier for the celebation. "Some even cancelled their appointments and other social activities to watch the opening ceremony, because it is the most important thing for them today, they won't miss the chance.""Now they watch TV, some of them have already arranged their trip to China to visit the World Expo in Shanghai. They usually leave for Shanghai in August because many Italians will go abroad for vacation," he said.Zhengxi Chen, another organizer, told Xinhua the Shanghai Expo was an opportunity both for China and the world, especially at a time when the world was suffering from the impact of the financial crisis.For local Chinese in Italy, the World Expo in Shanghai was also a historical chance to learn new knowlege and creative ideas, he said.In South Korea, Chinese students there used their cellphones, MSN and emails to share the excitement of the opening ceremony.Zhang Leisheng, a student at Yonsei University, said he was very exicted after watching the gala live through the Internet with his Chinese compatriots."The spectacular ceremony made me feel very proud to be a Chinese," he said.Over 100 years ago, when China took part in London's World Expo, it was just playing a supporting role and now it had become a host of World Expo, said Pu Bo, a student at Sungkyunkwan University, adding that he was very pleased with a stronger China.The Shanghai World Expo opened Friday night with artistic performances, fireworks and high technologies that epitomized 159 years of Expo history.Thousands of people watched the gala live at the futuristic, UFO-shaped Shanghai Expo Cultural Center, a centerpiece facility at the Expo Park, while thousands more enjoyed fireworks, lights and fountains on the waterfront promenade, the Bund.It is the first time the 159-year-old World Expo has been held in a developing country.