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BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

BEIJING, May 26 (Xinhua) -- The State Council, China's Cabinet, has approved a decision to impose harsh criminal and disciplinary penalties on 169 people held responsible for five major work-related accidents over the past two years, the State Administration of Work Safety (SAWS) announced Tuesday.     SAWS said cases involving 131 people had been handed over to judicial departments for criminal prosecution.     The five accidents included a mine blast in Linfen in north China's Shanxi Province that killed 105 on Dec. 5, 2007, a train collision in east China on April 28 last year that claimed 72 lives, and a landslide at an unlicensed iron ore tailings facility, also in Linfen, that killed 277 people. These five accidents are profiled below.     COAL MINE BLAST, HONGTONG COUNTY, SHANXI PROVINCE, 2007     The blast occurred at 11:15 p.m. on Dec. 5 at the Xinyao Coal Mine, killing 105 miners and injuring 18 others. Losses were estimated at 42.75 million yuan (about 6 million U.S. dollars).     Authorities said 78 people bore some responsibility for the accident, and 39 were referred to judicial bodies for criminal prosecution. Wang Donghai, the ultimate owner of the mine, and Wang Hongliang, legal representative, were sentenced to life in prison. Miao Yuanli, former vice mayor of Linfen, received a 14-year sentence.     The other 39 received internal disciplinary penalties. Wang Guozheng, director of Shanxi Provincial Construction Department, and Jin Shanzhong, then vice governor of Shanxi Province, were given severe inner party warnings. Li Tiantai, deputy party chief and mayor of Linfen, was given a severe inner party warning and demoted.     Ruizhiyuan Coal Mining Co. Ltd., which owned the coal mine, was fined 185.2 million yuan and closed.     TRAIN COLLISION, SHANDONG PROVINCE, 2008     A high-speed train from Beijing to the coastal city of Qingdao in Shandong Province derailed and struck another train in Zibo's Zhoucun District on April 28, 2008, leaving 72 dead and another 416 injured. It was the worst train accident in a decade. Losses were estimated at 41.92 million yuan.     An investigation showed the train was running at 131 kilometers per hour at the time of the accident, while the speed limit of that section was 80 km/hr.     Authorities determined that 37 people bore responsibility for the accident. Six people, including Guo Jiguang, vice executive director of the Jinan Railway Bureau, were referred to judicial departments for criminal prosecution.     Thirty-one people received inner party disciplinary punishment or administrative punishment. Chen Gong, head of the Jinan Railway Bureau, was dismissed. Chai Tiemin, then the Party chief of the bureau, was dismissed. Hu Yadong, vice minister of the Railway Ministry, had a serious demerit entered on his record. Liu Zhijun, railway minister, had a demerit entered on his record.     COAL MINE BLAST, SHANXI PROVINCE, 2008     On June 13, 2008, an explosion occurred in a colliery of the Anxin Coal Mining Co. Ltd. in Xiaoyi City, Shanxin Province, which killed 35 people and injured 12 others. One person has never been found. Losses totaled 12.91 million yuan.     Illegal homemade explosives concealed in the colliery tunnel ignited on their own and triggered the blast, according to investigators.     Fifty people were held responsible for the accident, and 26, including Tian Yun, head of the mine and legal representative of Anxin company, were referred to judicial departments for criminal prosecution.     Twenty-four people, including Zhang Zhongsheng, vice mayor of Luliang City, and Zhang Xuguang, mayor of Xiaoyi City, received inner party disciplinary or administrative punishment.     The company was fined 38.46 million yuan and all its illegal gains were confiscated. The company's business license was revoked and it was ordered to close.     LANDSLIDE, SHANXI PROVINCE, 2008     The collapse of an unlicensed iron ore tailing pond triggered a massive landslide on Sept. 8, 2008 in Xiangfen county of the coal-rich Shanxi Province. The landslide buried an outdoor market near a village of more than 1,000 residents, killing 277 people and injuring 33. Four people were never found. Losses were put at 96.19 million yuan.     Authorities said 113 people had responsibility for the accident. Among those, 51 faced criminal charges and 62 received inner party disciplinary or administrative punishments.     Among those facing charges were Zhang Peiliang, board chairman of the Xinta Mining Ltd. Co., or the owner of the mine; Kang Haiyin, Communist Party chief of Xiangfen County; Li Xuejun, head of Xiangfen County; Liu Shuyong, chief engineer of Shanxi Provincial Land and Resources Bureau, and Su Baosheng, deputy head of Shanxi Provincial Work Safety Supervision Administration.     Xia Zhengui, secretary of Linfen city's Party committee, was given an inner-party penalty. Liu Zhijie, Linfen's then mayor, and Zhou Jie, then vice mayor of Linfen, were dismissed. Zhang Genhu, head of Shanxi Provincial Work Safety Supervision Administration, had an internal demerit entered in his record.     MINE FIRE IN HEILONGJIANG PROVINCE, 2008     The fire on Sept. 20, 2008 at Fuhua Coal Mine in Hegang City killed 31 people and caused losses of 15.65 million yuan.     The accident was determined to have been caused by the spontaneous combustion of coal, but 22 people were held responsible for bad management.     Nine people, including Wang Qingyun, an investor in Fuhua Mining Co., Ltd., faced criminal charges.     Thirteen people received disciplinary penalties. Wang Rui, then vice mayor of Hegang, was included, among others.     The company's business license was suspended and it was forced to close.

BEIJING, May 21 (Xinhua) -- Chinese Premier Wen Jiabao attended the 11th China-EU summit with European leaders in Prague on Wednesday, focusing on bilateral strategic partnership, the global financial crisis and climate change.     The two sides reached a number of consensus at the summit which will play an active role in promoting a sustainable development of bilateral relations in an in-depth and all-around way.     Premier Wen stayed in Prague for a mere of five hours, but needed a 20-hour flight to go forth and back, indicating his sincerity, responsibility and confidence in meeting with the EU leaders.     Sincerity, responsibility and confidence are crucial in pushing forward the comprehensive China-EU strategic partnership, which is the experience drawn from the past and the need of reality.     Under the complex international political and economic situation, the China-EU relations have gone beyond the bilateral scope and bears more international significance.     China and the EU enjoy a solid basis in continuing cooperation and meeting challenges jointly.     Up to now, the two sides have set up more than 50 consultation and dialogue mechanisms covering political, trade, scientific, energy and environmental areas.     It is not worthy that the China-EU trade volume exceeded 425 billion U.S. dollars in 2008 in face of global slump, representing a 19.5-percent growth over the previous year.     At a time when the raging financial storm hit the world, the major tune for bilateral ties should be mutual support.     Just as what EU Commission President Jose Barroso described, China is a "crucial partner" in international efforts to counter global challenges, such as the economic and financial crisis and climate change.     Challenge also generates opportunities while posing danger to the world. When the financial crisis is raging, it also serves as a opportunity for both sides to forge stronger ties.     During the just concluded 11th China-EU summit in Prague, the two sides signed three agreements on cooperation in clean energy, science and technology, and small and medium-sized enterprises.     Wen also announced at the summit that China will send another buying mission to the EU to increase imports from Europe, a pragmatic action of China to fight against protectionism. It also signals Beijing's confidence to jointly tackle the global financial crisis with EU partners.     As the world's largest developing country and the largest bloc of developed nations respectively, China and EU need to develop steadily by clearing obstacles first, thanks to the fact that both sides enjoy huge potential and broad prospects for further cooperation.     EU should recognize China's market economy status as soon as possible, loosen its control over export restrictions on high-techproducts and lift its arms embargo to China, measures which will be conducive to nurturing new growth engines for trade and economic cooperation and expanding fields of cooperation.     Since the first China-EU summit in 1998, the international political and economic situation has experienced profound changes. In this context, the strategic and mutually beneficial partnership between the two sides has been expanded rapidly, further deepened and consolidated.     As the China-EU Summit enters a new decade, it is believed that the China-EU relations will constantly move ahead as long as both sides work together in a forward-looking manner, adhere to the principle of mutual respect, non-interference in each other's internal affairs, take into consideration of each other's core concerns and properly handle sensitive issues to refrain from harming bilateral ties by individual incidents.  

ZAGREB, June 20 (Xinhua) -- Chinese President Hu Jintao's just concluded three-nation tour is "very successful" in enhancing friendship, boosting cooperation and promoting common development with relevant countries, Foreign Minister Yang Jiechi said Saturday.     During the tour from June 14 to June 20, President Hu attended the ninth annual summit of the Shanghai Cooperation Organization (SCO) and the first BRIC (Brazil, Russia, India and China) summit in Yekaterinburg, Russia, and paid state visits to Russia, Slovakia and Croatia.     Hu's tour took place amid the complicated and changing international situation, while the global financial crisis continues to spread, regional security faces new challenges, and various countries share stronger will to deepen cooperation and promote development, Yang said.     The tour was a significant diplomatic move taken by China to develop relations with neighboring countries, major developing countries as well as Central and Eastern European countries, said Yang.     He said the tour has made successful achievements in four major areas. Chinese President Hu Jintao (C) attends the small-sized group meeting of the leaders of Shanghai Cooperation Organization (SCO) member states and observers in Yekaterinburg, Russia, on June 16, 2009