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BEIJING, May 29 (Xinhua) -- China's Office of State Flood Control and Drought Relief Headquarters (SFDH) urged local governments to strengthen flood control at a meeting here on Thursday.     Water resources authorities should double check the preparation work for the incoming flood season, strengthen monitoring systems and ensure the safety of major rivers and large- and medium-sized reservoirs, it said.     It also asked relevant authorities in quake zones to pay special attention to flood control and protect earthquake victims from fresh dangers.     Flood control precautions and safe water supplies in cities holding competitions for the 2008 Olympic Games in August should be ensured. It added that drought prevention work should also be listed on the agenda.     The SFDH initiated a level-three emergency response to the torrential rains that hit China over the past week causing 57 deaths.

BEIJING  -- The Industrial and Commercial Bank of China (ICBC) is forecasting an 8 percent increase in the country's Consumer Price Index (CPI) for the first quarter of 2008. The official government figures come out in mid-April.The bank said in a report issued on Thursday that the CPI would hit 8.2 percent in March, slightly down from the previous month as the effects from the snow chaos that hit China earlier this year died away.Inflation in China took its biggest jump in nearly 12 years in February when it rose 8.7 percent compared to the same period a year earlier. Food prices surged 23.3 percent while non-food prices edged up 1.6 percent from the year earlier period.Inflation was mainly fueled by rising food and energy prices in the global market, and compounded by domestic factors that included increased costs and a strong demand, the report said.The new round of global grain price rises, including rice and wheat, might add more pressure to the government's anti-inflation efforts.However, the inflation index would start decelerating in the second half of 2008 as the government's macro controls took effect. The continued global slowdown also weighed on demand and could gradually pull down prices, the report said.China rolled out a series of measures to fight inflation after the government was reshuffled last month. Among the latest moves was an increase in farm subsidies to boost production and curb grain price hikes.

BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign.     These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.     The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said.     The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.     However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth.     CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.     CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.     The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.     From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.     The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

BEIJING, Sept. 2 (Xinhua) -- Top Chinese political advisor Jia Qinglin is urging to cultivate more farmers who not only plant but also know the ABCs of technology and management, since the country is seeking new ways to promote rural development.     "We should foster many more 'new-style' farmers who are educated and who know techniques and the basics of sales and management," said Jia, chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, adding that rural areas should use urban development as a catalyst. Jia Qinglin, (2nd R), chairman of the Chinese People's Political Consultative Conference (CPPCC), speaks at a CPPCC National Committee meeting on balancing urban and rural development in Beijing, capital of China, Sept. 2, 2008. Jia made the remarks at a CPPCC National Committee meeting on balancing urban and rural development held here on Tuesday.     "It is a historical task to balance urban and rural development and promote the integration of urban-rural economic society. It is also a complicated, long-term task."     Jia urged that improvement in major areas such as the residence registration system, the rural financial system, employment and land use be given priority.     Jia, member of the Standing Committee of the Communist Party of China Central Committee Political Bureau, said goals such as lifting rural incomes and promoting agriculture efficiency should be incorporated into the overall plan of the country's economic development.