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BEIJING, Oct. 28 (Xinhua) -- China's top legislature on Thursday ended its bimonthly session, adopting a series of bills including the long-awaited social insurance law that had been reviewed by lawmakers four times in almost three years.The law that aims to prevent the improper use of social security funds was first submitted to the legislature in December, 2007, following a scandal in Shanghai involving 3.7 billion yuan (502.3 million U.S. dollars) of social security funds.The law is to take effect on July 1, 2011.In a proposal made by the Communist Party of China (CPC) Central Committee on formulating the country's 12th Five-Year Program (2011-2015) on National Economic and Social Development issued Wednesday, the social security system is set to be improved.The National People's Congress (NPC) Standing Committee also voted to adopt the law on law application to civil relationships involving foreign interests, and the revised Organic Law of Villagers' Committees, regarding rural people having greater powers to remove villagers' committee members and to convene meetings to decide village affairs.Also adopted at the close of this legislative session were the amendments to the Law on Deputies to the NPC and Local People's Congresses at Various Levels, which further specify the rights and duties of lawmakers.Lawmakers also adopted a decision to appoint Vice President Xi Jinping as vice-chairman of the Central Military Commission (CMC) of the People's Republic of China.Born in 1953, Xi was appointed by the CPC Central Committee on Oct. 18 as vice-chairman of the CMC of the party.Xi has served in a number of positions related to the armed forces and military reserve affairs during his previous tenures at national and local levels.The top legislature also expelled Li Qihong, former deputy secretary of Zhongshan Municipal Committee of the Communist Party of China in southern Guangdong Province and former mayor of Zhongshan City, from the top legislature on suspicion of "seriously violating disciplines" concerning economic activities.

BEIJING, Oct. 24 (Xinhua) -- China's Ministry of Commerce (MOC) vowed to step up regulation of sugar markets on Sunday after reserves helped stabilize prices which recently rose to a record high amid continuing harsh weather.Between Oct. 10-17, the retail price of small-packed sugar averaged 7.68 yuan per kilogram in major cities, up 1.3 percent from the end of September, according to data provided by the MOC.It shows that prices have begun to stabilize, according to the MOC website. The ministry also vowed to strengthen market regulations.China auctioned 210,000 tonnes of sugar reserves on Oct. 22 in a bid to curb soaring prices, which have been blamed on this season's frequent extreme weather in China's major sugar-producing areas, as well as reduced supplies overseas.In southwest China's Guangxi Zhuang Autonomous Region, the country's major sugar-growing area, sugar prices hit a record 6,000 yuan per tonne (902.3 U.S. dollars) on Oct. 11.Further, sugar futures hit an eight-month high of 683.20 pounds per tonne in London on Oct. 15.Also, the MOC said government reserves remain abundant and pledged to improve market supplies and ensure the public's needs.Between October 2009 and September 2010, eight batches of reserve sugar, or a total of 1.71 million tonnes, were auctioned, according to the MOC.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

BEIJING, Aug. 26 (Xinhua) -- China is enacting various measures, such as increasing its annual grain harvest and creating new grain safety legislation, to ensure a food-secure society, according to an official of the country's top economic planning body.Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), said in his report to China's top legislature on Thursday that China would increase its grain output capacity to an annual yield of 550 million tonnes by 2020, which would be a rise in output from 530.8 million tonnes in 2009.Zhang said the country would further strengthen its grain production capacity, by means such as improving infrastructure construction, especially the farmland irrigation system, expanding the use of fine breed and high-productivity technology, improve farming methods and upgrading the farming industry's ability to resist disasters.China's total grain demand is expected to reach 572.5 million tonnes by 2020, and to maintain a food self-sufficiency rate of 95 percent, at least 540 million tonnes of grain would be needed by then, Zhang said.Zhang added that the NDRC and other food administrative agencies were working together in a draft law on food and grain.According to Zhang, China has established a preliminary emergency response system for grain safety, strengthening the production, storage, transportation and distribution of food and grain during emergency situations.

BRUSSELS, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao urged Tuesday the European Union (EU) to objectively and fairly treat the RMB exchange rate issue as that would benefit the EU, China, and the world economy.Wen made the remarks while meeting the Euro Group troika, including Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and EU Economic and Monetary Affairs Commissioner Olli Rehn.The meeting took place on the sidelines of the two-day eighth Asia-Europe Meeting (ASEM) Summit in Brussels as China is under external pressure to appreciate its currency.Wen said China would further reform its formation mechanism of the yuan exchange rate to increase the currency's flexibility.China's central bank has announced on June 19 a series of steps of reforms. The Chinese currency has so far strengthened by about 2 percent against the U.S. dollar.China would also continue to expand import from the EU and strive to balance the trade, said Wen, adding that China was committed to transforming its economic development pattern, restructuring the economy and increasing domestic demands.Wen called on both sides to develop healthy ties from a strategic perspective as the EU has become China's largest trading partner while China stands as the EU's important exporting market.As the world economy was gradually recovering with uncertainties still hovering high, China and the EU should work together to combat the international financial crisis, Wen added.The Euro Group leaders appreciated China's support for the euro and the euro zone, saying the EU and China were good partners and enjoy extensive common interests.They also said the EU rejected both trade protectionism and currency war, and agreed differences and problems should be solved by dialogues.In a speech to the Greek parliament on Monday, Premier Wen said China supported a stable euro and would not reduce its euro-bond holdings.The three Euro Group leaders also held talks with China's Finance Minister Xie Xuren and central bank governor Zhou Xiaochuan here on Monday. Wen said the talks were "detailed and friendly".

来源：资阳报