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BEIJING, Dec. 4 (Xinhua) -- Chinese President Hu Jintao sent a message to Venezuelan President Hugo Chavez and Chilean President Sebastian Pinera on Friday to congratulate the founding of the Community of Latin American and Caribbean States (CELAC).In his message, Hu said that the establishment of CELAC is a major milestone in regional integration and that China appreciates the positive role of Latin American and Caribbean countries in international and regional affairs.China believes that the establishment of the community will make important contributions to unity and coordination in the region as well as joint efforts to counter global challenges, Hu said.China and Latin America are geographically apart, but their peoples enjoy traditional friendship, Hu said.In the 21st century, relations between China and Latin America have seen all-round and fast development with the expansion of mutually beneficial cooperation, Hu said.China has always treated its relations with Latin America from a strategic perspective and China is willing to work with CELAC and other countries in the region to build and develop a comprehensive cooperative partnership of mutual benefit and common development through the strengthening of dialogue, communication and cooperation, said Hu.The idea of CELAC was initiated in February 2010 at a regional summit in the Mexican resort of Cancun. The new grouping represents all countries in the Americas except Canada and the United States.

BEIJING, Dec. 26 (Xinhua) -- The Standing Committee of the National People's Congress (NPC), China's top legislature, began here Monday to deliberate draft interpretations on two annexes of the Basic Law of the Macao concerning election issues.Li Fei, deputy director of the Commission of Legislative Affairs of the NPC Standing Committee, explained the draft interpretations to lawmakers.The Basic Law of the Macao Special Administrative Region (Macao SAR) was adopted in 1993 and went into effect on Dec. 20, 1999.Annex I to the Basic Law provides a method for selecting the SAR's chief executives while Annex II sets the method for the formation of its legislative assembly.Clause 7 of Annex I of the Basic Law says that if there is a need to amend the method for selecting the Chief Executives for 2009, and the terms subsequent to the year 2009, such amendments must be made with endorsement of a two-thirds majority of all the members of the Legislative Council and the consent of the Chief Executive, and they shall be reported to the Standing Committee of the National People's Congress for approval.Clause 3 of Annex II says that if there is a need to amend the method of forming the Legislative Assembly of the Macao Special Administrative Region in and after 2009, such amendments must be made with the endorsement of a two-thirds majority of all the members of the Assembly and the consent of the Chief Executive, and they shall be reported to the Standing Committee of the National People's Congress for the record.Li said that the phase "if there is a need to amend ..." should mean that they may or may not be amended.The decision-making on whether such necessity exists is reserved to the central authorities, or the NPC standing committee, said Li, adding that the Macao SAR government, rather than members of the Legislative Assembly, individually or jointly, should be the proper entity to propose any such amendments.Li also explained that if no amendment to the methods is adopted, the two Annexes should still apply.The full text of draft has not been made public yet, but the points raised by Li are identical to those in the committee's prior interpretations on Hong Kong SAR's Basic Law in 2004.During the deliberation, members of the committee noted that draft would help to safeguard Macao's long-term prosperity and stability.They also believed that it was "proper and necessary" to adopt the draft during this week's session as Macao's chief executive Fernando Chui Sai On had made the issue of modifying the method a "major work" in his policy address for the fiscal year 2012.Chui's statement recognized that "there is agreement that it is appropriate to properly modify the two methods in order to adapt to society's development and progress" and promised to "submit a proposal on whether to modify and - if so - how to modify the methods."Macao expects the formation of its fifth Legislative Assembly in 2013, and the selection of its fourth Chief Executive in 2014.

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.

BEIJING, Jan. 8 (Xinhua) -- Only one in every three passengers secured train tickets on Saturday through a new online booking system or by phone, according to railway statistics released Sunday.A total of 2.112 million train tickets were sold online or by phone on Saturday, making up 36.3 percent of the total sales, the Ministry of Railways (MOR) said.Railway authorities have long been under pressure to increase capacity and improve ticketing services, as many find it extremely hard to secure a single ticket during major holidays such as the upcoming Spring Festival.The MOR set up an online ticketing system this year in a bid to ease passengers' frustrations in purchasing tickets.However, website glitches have added to the woes of travelers, especially migrant workers, who make up the biggest group in the Spring Festival travel rush.The rush, dubbed the world's largest seasonal migration, started Sunday and will continue for over 40 days.China's railways are expected to carry 235 million passengers over the next 40 days, up 6.1 percent year-on-year, the MOR said last week.The Spring Festival, or the Chinese Lunar New Year, falls on Jan. 23.

BEIJING, Jan. 7 (Xinhua) -- China's financial system is running on a stable course despite the global financial crisis. However, apparent problems and potential risks still linger, as the crisis has not ended, Premier Wen Jiabao said.Wen made the remarks at the two-day National Financial Work Conference that concluded Saturday. The meeting, held every five years, mapped out development plans for the financial sector in the upcoming five years. Similar meetings were held in 1997, 2002 and 2007."China's economy has maintained stable and relatively fast growth with stabilized consumer prices and improvements in people's lives. The financial system is running steadily. The good momentum of economic and social development remains unchanged," Wen said.Chinese Premier Wen Jiabao ( front) attends the National Financial Work Conference in Beijing, Jan. 7, 2012."We have the confidence, capabilities and conditions to move economic development to a new stage," he said.China has resolutely pushed forward a series of financial reforms which have set significant historical milestones. Large commercial banks have remarkably improved their capabilities of guarding against risks, Wen said."We should especially note that the global financial crisis has not ended. We should strengthen our awareness of risks and responsibilities in order to push financial work to new levels," he said.In the future, China will stick to the principal of having the financial industry serve the real economy to prevent virtual bubbles from inflating the economy, he noted.Wen voiced his support for the development of financial innovation, but stressed that this should not escape supervision. "Risk-aversion should be the lifeline of our financial work," he said.He pledged to allow market forces a greater say in deciding fund allocation and to more clearly define the government's role.Financial oversight will be tightened and improved, and banks should establish a more complete and prudent supervision system, he said.According to a statement released after the meeting, China's assets in the financial industry totaled 119 trillion yuan (18.8 trillion U.S. dollars) at the end of November 2011, a 149-percent increase from that at the end of 2006.As of the end of September 2011, the banking capital adequacy ratio stood at 12.3 percent, 5 percentage points higher than that at the end of 2006, while the non-performing loan ratio was 0.9 percent, 6.2 percentage points lower than that at the end of 2006.