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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.

BEIJING, May 20 (Xinhua)-- China on Thursday says it has noted the investigation results released by the Republic of Korea (ROK) over the sinking of a ROK warship, calling on all parties to exercise calmness and restraint over relevant issues of the sinking.Foreign Ministry spokesman Ma Zhaoxu made the remarks at a regular press briefing when responding to questions.He said China upheld that all parties should exercise calmness and restraint, properly deal with relevant issues, and avoid escalation of the situation.After the sinking of the ship, China expressed condolences and sympathy to the ROK on many occasions for their casualties, which fully embodied China's understanding of the grief of the ROK government and people.Ma said China has always viewed and dealt with international and regional affairs in a fair and objective manner.China is always devoted to safeguarding regional peace and stability, and promoting the progress of the six-party talks on the denuclearization of the Korean Peninsula, he said, adding China was opposed to any activities which could run counter with the commitment.The 1,200-ton "Cheonan," with 104 crew members onboard, went down on March 26 near the South Korean island of Baekryeongdo off the west coast after an unexplained explosion, killing 46 crew members.

BEIJING, April 28 (Xinhua) -- Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan (101.2 billion U.S. dollars) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday.The NBS did not provide reasons for the 102.6-percent profit surge. The figure was down 21.1 percentage points for the first two months of the year, the statement said.Analysts attributed the growth to a low comparison base during the first quarter of 2009 when the country's economic growth was dragged down by the global economic downturn. The economic recovery, backed by government stimulus measures, also helped lift profits.The People's Bank of China, the central bank, said in a statement last week that industrial production in the first quarter had accelerated and profits of enterprises continued to expand on growing domestic demand.Altogether 38 of the 39 major industrial sectors saw year-on-year growth in profits, with profits of the steel industry up 3,380 percent and those of the power sector up 1,540 percent, the statement said.

BEIJING, April 19 (Xinhua) -- Chinese Vice Premier Li Keqiang on Monday urged food quality authorities to strengthen supervision in order to to significantly improve food safety, consumer confidence, and the quality and reputation of domestic food.He instructed officials to focus on the prominent issues of food additives, farm products, processing, distribution and import and export, livestock slaughter, the catering industry and health supplements."Food is essential, and safety should be a top priority. Food safety is closely related to people's lives and health and economic development and social harmony," Li said at a State Council, or Cabinet, meeting in Beijing. Vice Premier Li Keqiang adressed a teleconference on food safety in Beijing on April 19, 2009.Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, also serves as head of a national food safety commission, established early this year."We must create a food safety system of self-disciplined food companies with integrity, effective government supervision and broad public support, to improve overall food safety," he said.He urged improvements in food safety standards, production inspections and emergency responses.Li called on officials to resume food safety inspection in quake-hit Yushu in northwest China's Qinghai Province to ensure the well-being of victims and rescuersThe meeting was also attended by vice premiers Hui Liangyu and Wang Qishan.

BEIJING, April 14 (Xinhua) -- The Chinese government has allocated 200 million yuan (29.3 million U.S. dollars) from the central fiscal for disaster relief in quake-hit Qinghai Province, the Ministry of Finance said late Wednesday.The fund was to support relief efforts including evacuation, resettlement, medical treatment and epidemic prevention.A 7.1-magnitude quake hit the Tibetan Autonomous Prefecture of Yushu in Qinghai early Wednesday morning, leaving at least 400 people dead and 10,000 others injured.