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BEIJING, Dec. 26 (Xinhua) -- With a series of measures being adopted to curb price spikes, the Chinese government is confident of keeping prices at a reasonable level, Premier Wen Jiabao said Sunday morning."Inflation expectations are more dire than inflation itself," Wen said, urging people to remain confident and government agencies to act to stabilize prices.The premier made the remarks while answering a listener's question during a radio broadcast by China National Radio.The consumer price index (CPI), a main gauge of inflation, rose to a 28-month high of 5.1 percent year on year in November, according to government statistics.Food price rises contributed to 74 percent of the CPI growth for the month.Wen said the country had a good agricultural supply base which gave the government confidence that it could stabilize prices.In a bid to control inflation, the government has also increased the bank reserve requirement ratio six times and lifted interest rates twice this year, he added.Further, authorities have introduced a package of measures including cutting fees for transportation of agriculture products and intensifying the crackdown on food price speculation.The overall price level, especially of major consumer goods, has now begun to drop, Wen said.

BEIJING, Dec. 10 (Xinhuanet) -- Provincial level officials and ministers will be held more fiscally responsible under an expanded auditing system, the country's top auditor said on Thursday."The regulation will be significant in supervising officials' power use and corruption prevention," Liu Jiayi, head of the National Audit Office, was quoted as saying in an interview posted on the office's website.Under the regulation, released by the general offices of the Communist Party of China (CPC) Central Committee and the State Council, leaders of public institutions and State-owned enterprises will also be audited.China introduced the first such regulation in 1999, but it only included measures to audit financial records of county-level and below Party and government officials.The audit target was extended to provincial governors and ministers in 2000 on a trial basis and to heads of provincial government departments in 2005.Chinese auditors have uncovered more than 68.4 billion yuan (.2 billion) in illegal use of funds during nationwide audits of some 410,000 Party and government officials and bosses of State-owned enterprises since 1998, according to Liu.During the audit of provincial governors and ministers, their implementation of economic policies, handling of income and expenses, key fund management and project construction will be examined."They have power and control many resources, and how they fulfill their economic accountability will impact local economic and social development," he said.More importantly, the audit can be carried out frequently, so illegal activities can be cleared up before they spread, he said.Liu also said the audit will be made during an official's tenure to solve any problems that exist.Results of the audit will be recorded in an official's file and it will be an important factor in performance assessments, promotions or removal, and rewards or punishments.The audit group will consist of officials from local discipline inspection commissions and sectors including audit, supervision, organization, human resources and State asset supervision and management."It's a big step in cracking down on corruption. And the regulation will deter officials who want to abuse their power," said Liu Xutao, a professor at the Beijing-based Chinese Academy of Governance.

BEIJING, Jan. 5 (Xinhua) -- China vowed Wednesday that it would continue efforts to expand and upgrade its rural power grid networks in the next five years to meet the increasing demand.Safe, environmentally-friendly, and technologically-advanced rural power networks are expected to cover most of the nation's rural areas to ensure better electricity use for rural residents during the country's 12th Five-Year Plan period (2011-2015), according to a statement issued after a State Council executive meeting chaired by Premier Wen Jiabao.Full-fledged power networks are still beyond reach for some rural residents in China's central and western rural regions, despite government moves to expand rural networks beginning in 1998, the statement said.Relevant departments should step up efforts to improve power generation facilities for irrigation and farm produce processing to ensure power consumption of agriculture production, the statement said.Further, participants at the meeting also pledged to slash rural power prices.

NANJING, Dec. 31 (Xinhua) -- A court in east China's Jiangsu Province sentenced a man to death and another to life in prison Friday for illegally raising up to 4 billion yuan (606 million U.S. dollars) in a fraudulent investment scheme.Another 11 suspects were given jail terms ranging from two-and-a-half to 10 years for collusion in the fraud, which caused losses of 650 million yuan (98 million dollars) to 14,822 investors, the Intermediate People's Court in the provincial capital, Nanjing, said in a statement.According to the statement, Sun Haiyu and Hu Zhen jointly set up a company, Nanjing Runzai Biology Co., Ltd. in January 2004 and began soliciting investments from the public in the name of planting glossy ganoderma, or reishi mushrooms, which are widely used in traditional Chinese medicine.The judge said the company exaggerated its profits in planting glossy ganoderma and fraudulently claimed that the investment was risk free.The duo, together with 11 accomplices, raised more than 4 billion yuan from April 2004 to July 2008.Sun was sentenced to death for the crime of illegal fund-raising by fraudulent means, while Hu was sentenced to life imprisonment.

NANJING, Dec. 12 (Xinhua) -- China on Sunday started to extend a memorial wall to engrave more names of those massacred by Japanese aggressors more than 70 years ago in Nanjing.After extension, the "wailing wall", a part of the Memorial Hall of the Victims in Nanjing Massacre by Japanese Invaders, will have 10,324 names on it, curator Zhu Chengshan said.The wall was engraved with 3,000 names when it was first built in 1995, and the list was expanded to more than 8,600 names in 2007 when the memorial reopened after a major repair and extension to mark the 70th anniversary of the massacre.The original wall was 43 meters long and 3.5 meters high. The extension will lengthen the wall by 26.5 meters, with 1,655 more names added to it, according to Zhu.Nanjing Massacre happened during World War II after Japanese troops occupied Nanjing, then capital of China, on Dec. 13, 1937. More than 300,000 Chinese were killed in the month-long atrocity.To collect the names of the victims is an important but tough job in the research of the massacre, as it is hard to seek witnesses and related documents decades after the holocaust, said Zhu.