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BEIJING, May 28 (Xinhua) -- Lending by Chinese banks may drop to 600 billion yuan (88 billion U.S. dollars) in May as the central government winds down its stimulus program and cools the property market to prevent the economy from overheating, the Shanghai Securities News reported Friday.A fall in bank lending in May is expected after the government introduced a raft of measures to curb the skyrocketing property market in April. The measures included a ban on lending for third home purchases and increased scrutiny of developers' financing, the report said.Lu Zhengwei, an economist at Industrial Bank, estimates Chinese banks' May lending will be 450 billion yuan to 650 billion yuan, compared with 774 billion yuan in April."China has asked banks to strictly control lending to industries with overcapacity and to stop lending to new projects not in the 4-trillion-yuan stimulus package. These will be major reasons for a drop off in May lending," he said.China's banks lent 3.37 trillion yuan in the first four months of the year, about 45 percent of the government's full-year 7.5-trillion-yuan lending target.The National Bureau of Statistics is due to release major economic data for May, including new bank lending, mid-June.
XINING, April 25 (Xinhua) -- China's health authorities have stepped up measures in preventing epidemics in northwest China's Qinghai Province where at least 2,192 people died since the April 14 quake, the provincial government said Sunday.More than 400 people are working to prevent epidemics. They are monitoring infectious diseases, water quality and food safety. No epidemic outbreak has been reported so far, said a spokesman with Qinghai's public health department.The epidemic prevention workers have so far disinfected 1,597,000 square meters of area and 6,600 tents, he said. Rescuers carry an injured to an aircraft at an airport in quake-hit Yushu County, northwest China's Qinghai Province, April 22, 2010. The injured people were continually transported by aircraft from quake-hit Yushu County to Xining, capital of Qinghai, on Thursday.A total of 745 hectares of land have been examined for plague, which hit the province in August 2009.The public health authorities have also held health education sessions for 52,400 people in the quake-hit zone, he added.
BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.
BEIJING, April 2 (Xinhua) -- Experts say the Party's promulgation of four documents on the selection and promotion of government and Party cadres will build a "total supervisory network" and cover the entire process of an official's career, from selection to retirement.The four documents, promulgated Wednesday by the General Office of the Communist Party of China (CPC) Central Committee, cover the selection and auditing of officials and set out penalties for those found guilty of misconduct in the selection and promotion of government and Party cadres.Prof. Ye Duchu of the Party School of the CPC Central Committee said the documents "clarify the responsibilities of people in charge of selecting officials" and aim to prevent corruption and make the cadre selection process transparent.Personnel departments at various levels are required to report personnel changes to superior departments before official appointments are made, and the appointments should be discussed by members of CPC committees of the same level.Officials are also required to be audited before leaving their posts and penalized if they are found to be guilty of misconduct.The selection and promotion of officials have been prone to public criticism in some areas.According to the Party's disciplinary body in central Henan Province, nine of the 22 county-level Party chiefs that had been penalized for corruption since 2006 have been punished while in their posts while the 13 others were punished about one year after being promoted."It reflects shortcomings in the selection and promotion of cadres," Ye said.Prof. Lu Wei of Wuhan University in central Hubei Province said the documents will help prevent the unmerited selection of officials and clarify rules.China issued its first regulation on officials' selection in 1995. Later, it was amended to make it clearer, stressing "transparency," "competition" and "equal emphasis on both integrity and professional competence."Lu said this time the new documents set out penalties for misconduct in the selection of officials.A number of high-ranking officials were deposed or resigned in recent years due to take responsibility for failures, coal mine accidents and food safety scandals. But some of them won new posts shortly after being removed.To address this issue, the new documents clarify that "officials who have been transferred to other posts for misconduct in selection and promotion of cadres will not be eligible for further promotion for one year," and "demoted officials will also be barred from promotion for two years."Lu said the new documents will tighten regulation of officials' conduct and improve the credibility of officials' selection.
BEIJING, April 18 (Xinhua) -- Chinese President Hu Jintao on Sunday promised orphan students in the quake-hit Yushu new homes and schools while rescuers continue to battle altitude sickness in search of survivors."There will be new homes! There will be new schools!" the president, who arrived in Yushu to inspect relief work one day after returning from a shortened overseas visit, wrote in chalk on the blackboard of a makeshift classroom.The 7.1-magnitude quake which struck the Tibetan Autonomous Prefecture of Yushu Wednesday morning has left at least 1,706 dead, 256 missing and 12,128 injured, as of 10 a.m. Sunday.A woman collects her belongs in Gyegu Town, the quake-hit Tibetan Autonomous Prefecture of Yushu, in northwest China's Qinghai Province, April 17, 2010. The 7.1-magnitude earthquake that struck Yushu of Qinghai Province, left 1,484 dead and 312 still missing, and about 100,000 people were relocated."The top priority is to rescue those still buried alive and treat those injured. Each life must be cherished," Hu said.By Sunday morning, rescuers in the quake-hit Yushu Prefecture in northwest China's Qinghai Province had saved 17,000 lives after Wednesday's 7.1-magnitude earthquake.More than 15,000 rescuers - including over 11,000 People's Liberation Army troops and armed police, 2,800 firefighters and special police forces, and 1,500 earthquake and mine accident rescue specialists - are still searching for quake survivors in Yushu.Most quake-affected people in Yushu have settled in tents and have been provided with food, clean water and other basic needs, Zou Ming, director of disaster relief department under the Ministry of Civil Affairs said at a press conference held Sunday.Some 25,000 tents, 52,000 quilts, 16,000 cotton-padded coats and 850 tonnes of instant food and drinking water have arrived in the quake zone. Another 18,950 cotton-padded tents are on the way.