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BEIJING, Nov. 20 (Xinhua) -- A senior official of the Communist Party of China (CPC) in charge of culture and publicity has called for innovations in reforming China's culture sector and for greater efforts in promoting the development of related industries.Liu Yunshan, head of the Publicity Department of the CPC Central Committee, made the remarks Friday while addressing a meeting of local publicity officials, according to a statement given to Xinhua on Saturday.Authorities should work for creating a "cultural atmosphere that improves scientific development and promotes social harmony," the official said.He added that efforts should be made to improve people's understanding of the importance and necessity of transforming China's economic growth mode and of the CPC Central Committee's Proposal for Formulating the 12th Five-Year Program for China's Economic and Social Development (2011-2015).The Proposal was adopted last month at the Fifth Plenum of the 17th CPC Central Committee.Further, Liu urged authorities to map out a blueprint for the reform and development of China's culture sector, in accordance with that proposal.

BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

LANZHOU, Dec. 7 (Xinhua) -- Floods caused by torrential rains and tropical cyclones have left at least 3,222 people killed and 1,003 others missing across China in the first eleven months of this year, government statistics released Tuesday show."In 2010, China experienced the worst flooding casualties and damage since 1998," Water Resources Minister Chen Lei said during a national drought and flooding relief workshop held in the northwest city of Lanzhou.Further, the average accumulated rainfall across China this year has increased nearly 10 percent over levels recorded in previous years. In some areas, the figure shot up five times over that recorded in a usual year.Nearly 270 towns and cities were flooded, 437 rivers swelled with water and 111 of them broke past records, and thousands of dams faced dangers, Chen said.Floods also destroyed 2.27 million houses and damaged 17.87 million hectares of farmland, statistics show. The economic loss caused by this year's flooding has reached 374.5 billion yuan (56.74 million U.S. dollars), said officials.

SHANGHAI, Nov. 16 (Xinhua) -- The death toll of a big fire that engulfed a high-rise building in downtown Shanghai had risen to 53 by 9:20 a.m. Tuesday, local authorities said.More than 70 people injured in the inferno are being hospitalized.The 28-story building at the intersection of Jiaozhou Road and Yuyao Road in Jing'an District, a densely-populated area in Shanghai, was being renovated when it caught fire at about 2:15 p.m. Monday.The fire was mostly extinguished at 6:30 p.m. after local authorities dispatched 25 fire units and more than 100 fire engines to the scene. Helicopters were sent to rescue people trapped on the roof.Firefighters use illuminating facility to search for survivors on the residential building in the downtown area of Shanghai, east China, Nov. 16, 2010. The death toll of a big fire that engulfed a high-rise building in downtown Shanghai had risen to 53 by 9:20 a.m. Tuesday, local authorities said. More than 70 people injured are being hospitalized. The cause of the fire remained unknown, but a witness said he saw construction materials burning before the fire climbed up the scaffolding and quickly spread.Jing'an District government has arranged food and accommodations for fire-affected residents evacuated to nearby hotels.Residents said the building, built in the 1990s, housed mainly teachers from several schools in Jing'an District, many of whom were retired.

BEIJING, Jan. 14 (Xinhuanet) --The country's GDP growth rate will slow to 8.7 percent this year from 10 percent in 2010, and a key challenge in 2011 will be to ensure that anti-inflationary measures do not "significantly" reduce growth, the World Bank said on Thursday.The bank estimates that global GDP, which expanded by 3.9 percent in 2010, will slow to 3.3 percent in 2011, before reaching 3.6 percent in 2012. Developing countries will continue to outstrip growth in developed countries, it said.Amid credit-tightening measures to combat inflation and surging property prices, China's growth is expected to ease to 8.4 percent in 2012, the bank said.Despite the slowdown, China will spearhead Asia's economic expansion. According to the bank's forecast, the overall growth rate for developing Asian economies will ease to 8 percent from last year's 9.3 percent as governments rein in credit to cool inflationary pressures."For China, a big concern is how to ensure a soft landing of the economy without significantly reducing growth when the government takes measures to curb inflation," said Hans Timmer, director of development prospects at the World Bank.The consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high of 5.1 percent in November from a year earlier and most economists predict that it will be in the region of 4 to 4.5 percent this year.In a bid to combat inflation, the central bank hiked interest rates by 25 basis points twice in the last quarter of 2010.Ardo Hansson, lead economist of the World Bank's Beijing Office, said the country needs more flexibility in its foreign exchange policy to fight inflation.China's central bank set the yuan's mid-point beyond 6.60 against the US dollar for the first time on Thursday, breaching an important barrier just days before President Hu Jintao's visit to the United States next week.The People's Bank of China set the mid-point, from which the currency can rise or fall 0.5 percent on a given day, for daily trading against the dollar at 6.5997, the first time it had broken through 6.60.The yuan has risen around 3.6 percent since June when authorities dropped a peg with the US dollar that had been set to support the economy during the global financial crisis.Some US politicians have been pressing China to allow the currency to rise at a faster pace to help narrow a trade gap.US Treasury Secretary Timothy Geithner repeated his call on Wednesday for a faster appreciation of the yuan and added that such a move could lead to an easing of restrictions on US technology exports to China, with both civilian and military use."The recent quickened pace of yuan appreciation could be considered as a gesture by the Chinese government before Hu's visit to the US," said Dong Xian'an, chief macroeconomic analyst with Industrial Securities.According to Dong, the yuan will appreciate by 5 to 6.6 percent this year, "a moderate pace".Wang Tao, chief China economist at UBS Securities, said they expected the currency to grow by 5 percent in 2011.The yuan can now be increasingly used in cross-border transactions, in a bid to reduce dependence on the US dollar after Premier Wen Jiabao said in March that he was "worried" about holdings of dollar-denominated assets.The central bank is allowing banks and enterprises in areas that carry yuan-settled trade to use yuan-denominated investment overseas directly, it said in a statement on its website on Thursday, describing the initiative as a pilot program.According to data from HSBC, the average monthly volume of yuan-settled trade surged from 0.6 billion yuan ( million) in 2009 to 68 billion yuan between June and November 2010. And one-third of China's cross-border trade may be settled in yuan by 2016, as the government pushes for the internationalization of the currency.