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BEIJING, Oct.25 (Xinhua) -- The China Banking Regulatory Commission (CBRC), the country's top banking regulator, on Tuesday revealed detailed plans to encourage financial support for the country's small and micro-sized enterprises.In a supplementary notice issued to its previous support plan for financing small enterprises, the CBRC said banks should ensure that the growth of loans to small firms will not be slower than that of the average lending, and the growth should be higher than the level of the previous year.Also, commercial banks should give more support to enterprises that borrow less than 5 million yuan (787,401 U.S. dollars), and increase tolerance for non-performing loans to small and micro-sized firms, it said.The regulator has set detailed rules for the establishment of financial institutions serving small businesses, and encouraged banks to create financial instruments to support the development of small high-tech enterprises.The CBRC has also allowed banks to issue special financial bonds to boost financing for small businesses.By the end of August, outstanding loans to small and micro-sized enterprises stood at 14.6 trillion yuan, accounting for 27.2 percent of total lending.
BEIJING, Jan. 12 (Xinhua) -- China's consumer price index (CPI), a main gauge of inflation, rose 4.1 percent year-on-year in December, down 0.1 percentage point from November on falling non-food prices, the National Bureau of Statistics (NBS) said Thursday.The CPI was up 5.4 percent in 2011 from the previous year, well above the government's full-year inflation control target of 4 percent, the NBS said in a statement on its website.The inflation rate in December marked a five-straight-month decline after hitting a 37-month high of 6.5 percent in July amid government tightening measures, according to the NBS data.On a monthly basis, the cost of living dipped 0.2 percent in December, while prices of entertainment, educational and cultural articles and services dropped 0.3 percent, the NBS said.Food prices, which account for nearly one third of the basket of goods in the nation's CPI calculation, went up 9.1 percent year-on-year in December and 1.2 percent month-on-month, the NBS said.The December inflation figure was in line with the market expectation, as many economists forecast that the CPI would grow around 4 percent year-on-year in December.China's Producer Price Index (PPI), a major measure of inflation at the wholesale level, rose 1.7 percent in December year-on-year, further weakening from 2.7 a month earlier.China has made controlling prices a top priority last year and implemented a series of measures to address the issue, including tightening monetary policy, cracking down on speculation, increasing food supplies and reducing circulation costs.
VIENNA, Dec. 10 (Xinhua) -- China is one of the active supporters of the international community to European crisis settlement, Chinese Vice Foreign Minister Fu Ying said here on Saturday.Attending the fourth World Policy Conference, she voiced the hope that Europe could expand the mutually beneficial cooperation between Europe and China, and create a favorite condition for attracting investment from developing countries including China.In the afternoon, Fu attended a seminar with the topic of "Europe as a laboratory for global governance" and answered questions from the attendants.Asked if China and other BRICS countries should "rescue" Europe or not, she said that the word "rescue" often used by the European media could be misleading.She said that as the world's largest economy, the European Union (EU) has strong real economy and much higher living standard than developing countries. Europe does not need a "savior" but international partners with a win-win relationship.Currently, Europe is facing severe challenges such as the debt crisis and is actively seeking solutions. The EU is China's largest trading partner and one of the main sources of technology and investments. The settlement of crisis in Europe is closely related with not only the world but also China.China has been expressing its confidence in the European economy and the euro, believing that Europe is able to find out solutions to the problems, she said.She also pointed out that the current financial cooperation between Europe and China was mentioned in the same breath with the European financial expansion in Asia in the early 20th century by some European media, which was really a tale of a tub.China sticks to the foreign policy of promoting peace, development and cooperation, and has no intention to control European countries through financial tools, she said.Regarding to the role China played in the settlement of the current European debt crisis, Fu pointed out that China has been an active part of the international community supporting Europe to overcome its crisis.In addition to the cooperation in the financial sector, China also expands its imports, exploring ways to strengthen the investments in Europe and helping create jobs and restore economic growth, according to her.In her speech, she also said that in the process of industrialization, technological innovation, as well as in the fields such as green economy, Europe has always been a leading player in the world.After World War II, European countries learned from their mistakes and started the integration process to create lasting peace. The EU has been successful in maintaining regional peace and promoting economic prosperity. The governance experience in Europe is useful to other regions of the world.However, the European experience should not be completely copied by other regions due to their unique history and real situations.
BEIJING, Dec. 16 (Xinhua) -- Trade volume between China and the Association of Southeast Asian Nations (ASEAN) in 2010 was 36 times what it was in 1991, the year in which formal relations between the two sides were established, according to new statistics.The volume is expected to reach 500 billion U.S. dollars in 2015, according to figures revealed Friday at the China-ASEAN Beijing Economic Forum, an event taking place in China's capital from Dec. 16 to 18 to commemorate the 20th anniversary of the China-ASEAN relations.Ma Mingqiang, secretary-general of ASEAN-China Center, said China-ASEAN trade volume totaled 267 billion U.S. dollars in the first three quarters of 2011 and is expected to hit the annual target of 350 billion dollars this year.He said the two parties have become closely linked in the past two decades, as China is now ASEAN's largest trade partner while ASEAN ranks the third among China's trade partners.With the comprehensive implementation of the China-ASEAN Free Trade Agreement in 2010, China has made 90 percent of commodities traded between China and ASEAN countries free of tariffs.China and ASEAN have enjoyed rapid social and economic growth since they established bilateral cooperation, said Surin Pitsuwan, ASEAN secretary-general.ASEAN can provide human resources, natural resources and raw materials for China's industrial development, and it in turn wants to win more investment from China, said Pitsuwan.He said the cooperation not only is a win-win solution for both sides, but will also make a positive contribution to the world.Guo Jinlong, mayor of Beijing, said the city saw a 21.5 percent year-on-year increase in trade volume with ASEAN in 2010, and will further strengthen its cooperation with the countries.ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
BEIJING, Dec. 19 (Xinhua) -- China will launch its first-ever high-resolution geological mapping satellite for civil purposes next January, according to official sources.The Ziyuan III satellite will be launched aboard a Long March 4B carrier rocket from the Taiyuan Satellite Launch Center in northern China's Shanxi province, according to a conference held on Monday for the directors of surveying, mapping and geoinformation administrations across the nation.The Ziyuan III's surveying covers the entire area between 84 degrees north latitude and 84 degrees south latitude.The satellite will be used to conduct geological mapping, carry out surveys on land resources, help with natural disaster-reduction and prevention, and lend assistance to farming, water conservation, urban planning and other sectors.The Ziyuan III satellite project was inaugurated on March 2008, and also includes gravity satellites, radar satellites and follow-up satellites for the Ziyuan III, so as to obtain geoinformation under all kinds of meteorological conditions.