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BEIJING, April 13 (Xinhua) -- Chinese companies will no longer need the central bank's approval when issuing short-term bonds on the inter-bank market amidst government efforts to boost direct financing and reduce bank loan risks.     The People's Bank of China (PBOC) announced non-financial companies could issue bonds with maturities of less than one year on the inter-bank market without its approval from April 15.     Instead, they would only need to register at the National Association of Financial Market Institutional Investors set up in September, the PBOC said in a statement issued late on Saturday.     It said other negotiable notes "with a certain maturity" issued by non-financial companies on the inter-bank bond market wouldn't need administrative examination and approval, either. Nor would future innovative financing tools on the market.     China has vowed to develop its capital market and broaden direct financing channels to curb enterprises' heavy reliance on bank credit.     "China's financial structure has long been unbalanced, with its direct financing underdeveloped," said the statement. "Enterprises rely on bank loans too much, bringing them fairly large hidden risks."     To boost innovation in debt offering and raise the share of direct financing could mobilize the transfer of deposits to investment and decrease credit risks of the banking system, it said.     China allowed companies to offer short-term bonds to qualified institutional investors on the inter-bank market in May 2005.     From then to the end of 2007, 316 companies issued 769.3 billion yuan (about 109.9 billion U.S. dollars) of short-term bonds, with 320.3 billion yuan of outstanding debts, statistics showed.     In comparison, short-term loans to non-financial companies and other institutions surged 1.25 trillion yuan in 2007, while middle- and long-term loans jumped 1.65 trillion yuan.

CHENGDU, June 15 (Xinhua) -- President Hu Jintao on Saturday ordered that the title of "heroic quake-relief force" be given to a helicopter regiment that showed loyalty and courage in rescue work following last month's major quake in southwest China. The command by Hu, also Chairman of the Central Military Commission of the People's Republic of China, was announced at an award meeting here on Sunday.     The regiment of army aviation under the Chengdu Military Command did an excellent job in quake-relief missions and showed great loyalty, courage and dedication, the command said. Photo taken on May 16, 2008 shows that a Mi-171 transport helicopter is ready to transport people from quake-hit Maoxian County, southwest China's Sichuan Province, to a safe place. A Mi-171 transport helicopter engaging in quake relief work near the Yingxiu Township, Wenchuan County in southwest China's Sichuan Province crashed on Saturday afternoon, according to military sources    All Chinese military members should learn from the regiment, which put people's lives first, it said.     The regiment has dispatched 1,848 helicopter flights for rescue and transport missions since the quake on May 12 and evacuated 1,126 injured people from the region.     More than 619 tons of food, water and medicines have been delivered and 2,171 people stranded by the quake were transferred by the regiment.     One of the regiment's helicopters crashed in a deep forest ravine in Sichuan Province during a rescue mission on May 31, leaving all five crew and 13 passengers dead.     The honor awarded to the regiment was the top honor of all the regiment members and all military members who participated in quake-relief missions, Xu Caihou, Vice Chairman of the Central Military Commission, said at the meeting.

BEIJING, April 22 (Xinhua) -- The Standing Committee of the 11th National People's Congress (NPC) will discuss the amendment or adoption of 18 laws, hear seven work reports and conduct reviews on the implementation of five laws in 2008.     The numbers were disclosed in a work agenda approved after a recent meeting of the chairman and vice chairpersons of the NPC Standing Committee, presided over by top legislator Wu Bangguo.     The NPC Standing Committee will review draft amendments to 11 laws this year, including the Law on Protection of the Disabled, the Law on Insurance, the Patent Law, the Law on State Compensation, and the Electoral Law.     The draft amendment to the Law on Protection of the Disabled, which includes added details about stable financial support, better medical care and rehabilitation for the disabled, and favorable jobs and tax policies, is likely to be passed within this year, according to the work agenda. However, a date is not yet available. The Standing Committee of the 11th National People's Congress (NPC) will discuss the amendment or adoption of 18 laws, hear seven work reports and conduct reviews on the implementation of five laws in 2008.    In 2008, the NPC Standing Committee will also review seven draft laws regulating management of an environment-friendly economy, administrative enforcement, management of state-owned property, food safety, social insurance, protection of intangible cultural heritage, and arbitration of land dispute in rural areas of the country.     The first five draft laws, which had already been heard last year by the 10th NPC Standing Committee, are also likely to be passed in 2008.     Moreover, the 11th NPC Standing Committee will hear another seven reports submitted by the State Council, the Supreme People's Court and the Supreme People's Procuratorate.     The work reports will cover areas ranging from disaster relief and post-disaster reconstruction work, market prices, water pollution, to judicial justice.     In addition, the 11th NPC Standing Committee will also conduct respective inspections of the implementation of the Law on the Protection of Minors, the Law on Employment Contracts, the Law of Farmers' Specialized Cooperatives, the Law on Environmental Impact Assessment, and the Compulsory Education Law.     The focus of this year's NPC Standing Committee's work is to "improve the socialistic legal system with Chinese characteristics", the work agenda said.

BEIJING, April 23 (Xinhua) -- Chinese Vice President Xi Jinping said here Wednesday that President Hu Jintao's upcoming visit to Japan would have a profound impact on bilateral strategic and reciprocal relations.     "President Hu's trip is a great event in Sino-Japanese relations in the new period," Xi told visiting Yoshinobu Ishikawa, governor of Shizuoka Prefecture in Japan.     Xi said this trip would promote mutual understanding and friendship as well as substantial cooperation between the two countries.     He expected the two countries to seize the chance to become good neighbors and partners featuring peaceful existence, long-term friendship, reciprocal cooperation and common prosperity. Chinese Vice President Xi Jinping (R) shakes hands with visiting Yoshinobu Ishikawa(L), governor of Japan's Shizuoka Prefecture, in Beijing, April 23, 2008.    Xi also hoped the two sides could strengthen the exchanges between their peoples and cities to enrich Sino-Japanese friendship and cement bilateral ties.     Yoshinobu Ishikawa said the development of friendly relations with China conformed to the fundamental interests of the two peoples, adding that Shizuoka Prefecture would step up exchanges with China in different levels and areas.

BEIJING, Oct. 10 (Xinhua) -- China's central bank on Friday said it will continue international cooperation to tackle the global financial crisis and maintain market stability.     The pledge came two days after the People's Bank of China (PBOC) announced an interest rate cut in a co-ordinated global move to revive solvency in the international financial system.     The PBOC on Wednesday cut the benchmark lending and deposit rates by 0.27 percentage points and the reserve requirement ratio by 0.5 percentage points amid growing fears of a slowing economy and falling equities market.     "The PBOC will continue close contacts and cooperation with counterparts and international financial organizations to jointly maintain stability of global financial market," PBOC spokesman Li Chao told Xinhua.     The PBOC would closely watch the developments and effects of the crisis and take timely and flexibly measures according to changes in the domestic and international situations to guard against financial risks, Li said.     The global economic slowdown reduced demand for Chinese exports and inevitably affected China's economy, he said.     The central bank was fully confident and capable of dealing with the crisis and maintaining stable and relatively fast economic growth.     "China has a huge domestic market and the liquidity is abundant," he said. "As long as we take strong measures to boost domestic demand, the economy has big potential for sustainable growth."     A PBOC statement on the third-quarter meeting of its monetary policy committee said it would take flexible and prudent macro-economic control measures to boost economic growth.     The PBOC was not optimistic in its global economic outlook as intensifying fluctuations in the financial markets had affected the real economy.     It said it would boost coordination between monetary policies and fiscal, industry, export and financial regulation policies to help transform economic growth mode and boost domestic demand to balance international payments.