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BEIJING, Feb. 11 (Xinhua) -- China's foreign exchange regulator said Friday it did not suffer any losses from its investment in Fannie Mae and Freddie Mac bonds, adding that media reports of up to 450 billion U.S. dollars of losses were "groundless.""Up until now, the capital and interest repayments of Fannie Mae and Freddie Mac bonds is normal, and no losses have incurred," The State Administration of Foreign Exchange (SAFE) said on its website.Annual yields of the bonds were around 6 percent between 2008 and 2010, the SAFE said.The regulator, which oversees China's more than 2 trillion U.S. dollars of foreign exchange reserve, also clarifies it had not bought any stocks of the two troubled mortgage companies.UPI reported on Friday that the Obama Administration will propose phasing out the two mortgage giants after rescuing them, which is part of a U.S. Treasury Department white paper to Congress that lays out three ways of cutting government support to the 10.6 trillion U.S. dollars mortgage market.

HARARE, Feb. 11 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Friday called on the West to lift sanctions they imposed on Zimbabwe while Zimbabwean President Robert Mugabe applauded the Asian giant for its continued political and economic support.Addressing journalists soon after meeting Zimbabwe President Mugabe, Yang, who is on a two-day visit, said Zimbabweans and other African people have a right to choose their own development path."We believe there should be the lifting of sanctions by certain countries. We think that is the voice of the Zimbabwean people and that is also the view of all the parties concerned here in Zimbabwe," Yang said, adding that no country has a right to dictate to another."We believe all nations should respect each others sovereignty and territorial integrity," he said."China believes that Africans have the right to choose their own way of development as they are the masters of the African continent. All others are just guests," he said.Yang said that China appreciates assistance from Africa and would also continue to reciprocate the support.Addressing the Chinese delegation earlier, Zimbabwean President Mugabe said the West continues to persecute Zimbabwe through sanctions for the decision the county took to empower its people through land.He said the imposition of sanctions was despite the fact that Zimbabwe and Britain had agreed that the former would redistribute the land while the latter would compensate affected farmers."The Western countries have imposed sanctions on us for taking our land although we had discussed this in 1979. That is what started the problem," Mugabe said.Mugabe said Britain had since turned to political reasons such as human rights, democracy and rule of law to justify continued sanctions imposed on Zimbabwe.He applauded continued cooperation between China and Zimbabwe which dates back to the struggle for independence.Meanwhile, China extended a 50 million yuan (7.5 million U.S. dollars) grant to Zimbabwe.Yang and his Zimbabwean counterpart Simbarashe Mumbengegwi signed the agreement on behalf of their countries.In his meeting with Mumbengegwi, Yang who described Zimbabwe as a "brother" said the two countries had identified areas for further cooperation such as infrastructure, agriculture, water conversation and personnel training.

BEIJING, Feb. 24 (Xinhua) -- The Standing Committee of the National People's Congress (NPC) will vote on draft laws on vehicle and boat taxes at the end of its bimonthly sessions on Friday.The group is also expected to vote on protecting the nation's intangible cultural heritage and a draft amendment to the Criminal Law.The Chairperson's Council of the NPC Standing Committee adopted the decision at a Thursday meeting presided over by NPC Standing Committee Chairman Wu Bangguo.The three drafts will undergo further deliberation and revision based upon the opinion of the members of the NPC Standing Committee before the laws are put to a vote.Under the draft law on vehicle and vessel taxes, there will be a reduction in taxes for vehicles with engines smaller than 2.0 liters, which accounts for 87 percent of China's cars. Vehicle owners would also be required to submit tax certificates in order to qualify for a road-worthiness certificate.

来源：资阳报