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BEIJING, Oct. 12 (Xinhua) -- The Chinese government Tuesday announced financial assistance for herders in west China, to reward their efforts in conserving grasslands and to compensate them for losses.From next year, the policy will be applied in eight provincial-level regions including Inner Mongolia, Xinjiang, Tibet, Qinghai, Sichuan, Gansu, Ningxia and Yunnan, said a circular issued Tuesday after a State Council executive meeting presided over by Premier Wen Jiabao.The government will give 90 yuan (about 13 U.S. dollars) per hectare of grassland annually to herders living in the regions where the grasslands are severely damaged and herding has been banned, the document said.Outside of these herding-banned regions, residents will receive 22.5 yuan (3 dollars) per hectare every year if they keep a herd of sustainable size, the document said.The government will also provide 150 yuan per hectare for farmers to grow grass of better quality.In addition, each of about 2 million households of herders will receive 500 yuan per year as general assistance, the document said.More money will also be spent on education and training of herders, the document added."Due to excessive herding and low investment in grassland conservation, the area of grasslands in China has shrank dramatically and the environment there has deteriorated. However, local herders lack new ways to make a living," the document said.The policy is an effort to conserve the natural environment while improving the livelihood of locals, it said.The central government will allocate 13.4 billion yuan every year for the policies, according to the document.

SHANGHAI, Oct. 18 (Xinhua) -- China will continue to promote gradual exchange rate reforms, even while the yuan is expected to stabilize at a reasonable level, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE) Monday in Shanghai.Yi, also deputy governor of the People's Bank of China (PBOC), or the central bank, made the remarks at a seminar held by the International Monetary Fund (IMF) to discuss the theme "Macro-Prudential Policies -- an Asian Perspective"."The flexibility of the yuan has increased since China launched exchange rate reforms in June. We will further boost those reforms, but the process will be gradual," Yi said."Judging from the markets, the yuan can remain stable at a reasonable and balanced level," he said.China will also continue to expand domestic demand and boost construction in rural medical services, education and infrastructure, he said.Five years ago, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.Since then, the yuan has strengthened further, albeit slowly, and has risen more than 21 percent against the greenback.On June 19 this year, the Chinese central bank announced that it would further reform the yuan's exchange rate mechanism to improve its flexibility.

XINING, Oct. 16 (Xinhua) -- Ten people died while 34 others were injured after a passenger bus plunged over a bridge in a mountainous region in northwest China's Qinghai province on Saturday, local police said.The accident occurred in Dulan county, Mongolian-Tibetan-Kazak Autonomous Prefecture of Haixi, at 4: 59 a.m. Saturday, police said. At least two children were among the dead.The injured are being treated in a major hospital in the nearby Golmud city, police and hospital sources said. Three of them remain in critical conditions.An initial probe said the driver's misjudgment was to blame.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.

BEIJING, Oct. 8 (Xinhua) -- Chinese shares advanced to a five-month high Friday on the gains of gold producers and nonferrous metals.The benchmark Shanghai Composite Index rose 3.13 percent, or 83.09points, to close at 2,738.74.The Shenzhen Component Index gained 3.86 percent, or 442.83 points, to end at 11,911.37.Combined turnover stood at 283.42 billion yuan (42.43 billion U.S. dollars), up from 183 billion yuan the previous trading day.Gainers outnumbered losers by 814 to 41 in Shanghai and 1,025 to 47 in Shenzhen.Most Chinese stocks proved resilient Friday after the stock markets were closed from Oct. 1 to 7 for the annual National Day holiday.Gold producers rallied Friday after international gold prices hit a record during the Chinese holiday as investors sought an alternative investment to the U.S. dollar, which slid to an eight-month low against the euro on Thursday.Zijin Mining Group, China's largest gold producer, surged by the 10- percent daily trading limit to end at 8 yuan per share. Shandong Gold Mining, a big producer of gold based in east China's Shandong Province, rose by the daily limit of 10 percent to 61.46 yuan in Shanghai.Nonferrous metals also posted widespread gains after copper rose to 8,326 U.S. dollars per metric ton on the London Metal Exchange on Wednesday, the highest level since July 2008.Jiangxi Copper Co., the country's leading copper producer, jumped 9.9percent to 34.23 yuan per share while Yunnan Copper Co. gained 9 percent to 24.52 yuan per share.Other energy and raw materials stocks also rebounded Friday because of international commodity gains during the weeklong holiday.China Shenhua Energy Co., China's biggest coal producer, climbed 9.28 percent to 25.8 yuan. PetroChina Co. rose 2.85 percent to 10.47 yuan per share.