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BEIJING, July 25 (Xinhua) -- Party and government officials whose spouses and children have emigrated overseas are to be subject to strict examination when applying for private passports and going abroad, according to a new regulation released Sunday.A provisional regulation by the General Offices of the Communist Party of China (CPC) Central Committee and the State Council specified new rules overseeing the issuing of private passports and travel passes to Hong Kong, Macao and Taiwan to such officials.Party and government leaders of this kind have become so renowned in China that they have a shared nickname, "naked officials." They usually moved their spouses and children, as well as their assets, to foreign countries, and they put the money into their wives' or children's bank accounts. Even if they were eventually apprehended, the wealth transferred to overseas banks still belonged to the officials' families.According to the new rules, "naked officials" should submit written accounts on all income and property owned by their spouse and children living overseas, and on any changes in their financial conditions."Officials whose duties or services are related to the countries and regions their spouses and offspring are living in should voluntarily report it to their higher authorities. If conflicts of interests are involved, the officials must avoid holding related posts," the regulation said.The regulation stated that such officials should "strictly comply with relevant laws and regulations" when applying for passports and travel passes, or applying for traveling or emigrating abroad.Officials above deputy-county head level applying for passports should consult with their higher authorities, it said, adding that a thorough examination should be conducted when promoting officials whose family members have emigrated abroad.A statement from the CPC Central Committee General Office said the new regulation is "an important anti-corruption measure" to make officials self-disciplined, clean, reliable and to be people of integrity."The regulation not only stresses education, management and supervision of civil servants whose spouse and offspring live aboard, but also focuses on the protection of their interests and working enthusiasm," it said.The regulation covers all civil servants, but excludes those top-ranking specialists in high-tech fields who have been recruited from overseas, along with high-qualified overseas returnees.Experts say this is the latest effort to place officials' actions in the public's view.In September 2009, the CPC Central Commission for Discipline Inspection first ordered increased oversight of "naked officials."The municipal government of Shenzhen of southern Guangdong Province then implemented regulations in November 2009, including provisions saying that "naked official" should not become department chiefs or leading members of key departments.Earlier this month, the two general offices issued another regulation, designed to curb corruption and increase transparency about the assets of government officials. It required officials at deputy county chief level and above to annually report their assets, marital status, whereabouts and employment of family members.The reporting system for monitoring Party and government officials was set up in 1995, and revised in 1997 and 2006 by broadening the list of items and adding detailed procedures.Prof. Li Chengyan of Peking University said the two regulations that were announced recently were "a substantial step" towards the establishment of an asset declaration system for China's civil servants.

BEIJING, July 28 (Xinhua) -- President Hu Jintao and Premier Wen Jiabao on Wednesday respectively sent condolence messages to their Pakistani counterparts after a deadly airplane crash that killed all the 152 people on board.In his message, Hu, on behalf of the Chinese government and the people and in his personal name, conveyed to Pakistani President Asif Ali Zardari his profound condolences for the victims and sincere regards to the families of those killed in the worst plane crash ever in Pakistan.In a separate message, Premier Wen Jiabao extended to Pakistani Prime Minister Syed Yusuf Raza Gilani his condolences for the victims and offerred regards to the families of those killed.Earlier Wednesday, an Airbus 321 carrying 152 people crashed minutes before it was supposed to land in Islamabad, killing everyone onboard, including at least 20 women and seven children as well as two Americans and a Somalian.The Airblue flight carrying 146 passengers and six crew members left Karachi in the morning and lost contact with the control tower at the Islamabad airport shortly before the crash. The plane was on its way from Turkey to the Pakistani capital via Karachi.The plane, which was manufactured in 2000, was leased in January 2006 by Airblue, a private service based in Karachi, Pakistan's largest city, according to local media.Also Wednesday, Chinese Foreign Minister Yang Jiechi sent a condolence message to Pakistani Foreign Minister Shah Mehmood Qureshi for the deadly air crash and the serious casualties.

BEIJING, June 18 (Xinhua) -- China has become the world's third largest stock market as total market value of the Shanghai and Shenzhen markets hit 20.96 trillion yuan (3.07 trillion U.S. dollars) as of the end of May, the country's securities regulator said Friday.The total market value so far was up 393.76 percent compared to the 2003 level, the China Securities Regulatory Commission said.

BEIJING, June 18 (Xinhua) -- China's central bank said Friday more flexibility would be allowed to guide money policies based upon changing circumstances if inflationary pressures increase during the economic recovery along with rising market confidence.The risk of higher prices may grow stronger given that liquidity remains loose throughout the world and China has experienced much faster credit growth earlier, according to the Annual Report 2009 issued Friday by the central bank, the People's Bank of China (PBOC).China's financial institutions lent a record 9.6 trillion yuan (1.4 trillion U.S. dollars) in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy during the ongoing global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.China has targeted a total of 7.5 trillion yuan in new loans for 2010.But prices were still very likely to remain stable as China's grain harvest has been substantial for a number of years, and manufacturers of consumer goods have been seeing rising productivity, which ensured supply, the central bank said.China's Consumer Price Index, a main gauge of inflation, rose 3.1 percent in May, exceeding the government target to keep the nation's inflation rate under 3 percent for 2010.National Bureau of Statistics spokesman Sheng Laiyun earlier said the higher inflation in May was due to a low comparison basis from the same period last year, and inflationary pressure was easing given that China had the basics for keeping prices under control.However, the nation needed to safeguard the supply of sufficient agricultural products and curb soaring housing prices in some cities to manage inflationary expectations, according to the report.Relatively relaxed monetary policy to remainThe central bank report said China would maintain its moderately relaxed monetary policy in 2010, projecting for this year a 17 percent increase in broad money supply (M2), which covers cash in circulation and all deposits.Central bank vice governor Su Ning earlier said a 17 percent year on year increase in China's broad money supply, and a targeted 7.5 trillion yuan in new loans for this year, indicated a relatively relaxed monetary policy.Additionally, China's M2 had increased 21 percent year on year to 66.34 trillion yuan by the end of May, according to PBOC data.The central bank said in the report it would work to control the pace of credit growth, maintain the balance of credit, and avoid apparent fluctuations.The central bank also said a differentiated credit policy should be carried out to optimize the nation's credit structure.Specifically, more credit support should be made available for agriculture and small and medium-sized companies, which traditionally face difficulties in obtaining financing.Favorable credit policies should also be implemented to support underdeveloped sectors, employment, strategically important industries such as new energies, new materials, and energy savings, while strict credit controls should be imposed upon energy-consuming and pollutingindustries and those with overcapacities, according to the report.Steady Progress of RMB Exchange Rate ReformThe PBOC said China was to steadily continue market reforms of exchange rates and improve the RMB (Chinese currency) exchange rate formation mechanism.Further, principles of independent decision-making, controllability and graduality should be enacted in improving the mechanism, according to the report.The central bank would also work to make trade and investment moreconvenient by promoting the yuan settlement in cross-border trade.China previously signed a number of bilateral currency swap agreements with countries such as the Republic of Korea, Malaysia, Belarus, and Indonesia.

BEIJING, Aug. 4 (Xinhua) -- China continued a five-day military exercise on Wednesday as the country's air defense forces carried out reconnaissance, early warning, electromagnetic interference and ground-to-air attack drills.More than 12,000 Chinese military personnel, along with seven types of military aircraft divided into Red and Blue rivals, took part in the exercise code-named "Vanguard-2010,"-- which started on Tuesday in seven cities across Henan and Shandong Provinces.On Wednesday morning, the Blue forces used reconnaissance planes and electronics warfare aircraft to conduct surveillance and jam the network systems used by the Red forces for command and communications as well as reconnaissance and early warning.A ground-to-air attack drill began at Wednesday noon, as the Blue forces launched unmanned aerial vehicles, fighters and helicopters to attack their rivals.The ground-to-air attack drill will last overnight till 6 a.m. Thursday, military sources said.