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BEIJING, Feb. 25 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday ordered local governments to increase funding for affordable housing projects, stressing that the construction of 10 million units was a mandatory task that must be fulfilled this year.Speaking at a national conference on affordable housing for low and middle income groups, Li said that the construction of 10 million affordable housing units this year is of great significance for the government to stabilize public expectations, control housing prices, improve people's lives and boost domestic consumption."Housing is imperative for people's lives and local governments must waste no time in beginning the construction of 10 million affordable housing units this year and putting them into service as early as possible," Li said.To facilitate the government's subsidized affordable housing projects, Li said that local governments should ensure basic market supply with small units and guide the public to "reasonable consumption."More efforts are also needed to develop low-rent public housing and satisfy the demands of residents for affordable public housing, Li said. To support the construction of affordable housing, local governments can use tax breaks, determine the rent for public housing reasonably and finance construction projects in different ways, such as bank loans and social investment, he added.Li also called on local governments to increase land supplies for common commercial housing construction. The vice premier called on authorities to ensure transparency and fairness in the distribution of affordable housing units to benefit low-income groups who are in need.He stressed the need to discourage house purchases for the purposes of investment and speculation and to increase the supply of common commercial apartments and strictly implement the central government's macro control policies for the real estate market.The Chinese central government signed strict agreements with provincial governments to guarantee the construction of 10 million government-subsidized apartments this year. The target of building 10 million government-subsidized apartments is 72.4 percent more than last year, according to official figures.China's affordable housing provisions are divided into different categories, including "economic housing" that are sold below market prices, "price-capped housing," government-owned "low-rent housing" for extremely poor residents and "public-rent housing" for a wider range of people.
WASHINGTON, Feb. 4 (Xinhua) -- Major trading partners of the United States, including China, did not manipulate their currencies to gain an unfair advantage in international trade in 2010, according to a report released by the U.S Treasury Department on Friday."Based on the resumption of exchange rate flexibility last June and the acceleration of the pace of real bilateral appreciation over the past few months," China's behavior did not qualify under the official definition of manipulation, the Treasury said in its long-delayed semiannual report to the Congress on International Economic and Exchange Rate Policies.With respect to exchange rate policies, ten economies were reviewed in this report, accounting for nearly three-fourths of U. S. trade. Many of the economies have fully flexible exchange rates. A few have more tightly managed exchanges rates, with varying degrees of management."No major trading partners of the United States" met the standards identified by the Congress as currency manipulator, concluded the report.Since the June 19, 2010 announcement by China's central bank of greater exchange rate flexibility, its currency, also known as renminbi (RMB) has appreciated 3.7 percent against the dollar, or about 6 percent annualized. The renminbi has appreciated 26 percent in total against the dollar since 2005.The Treasury said that because inflation in China is significantly higher than it is in the U.S., the RMB has been appreciating more rapidly against the dollar on a real, inflation- adjusted basis, at a rate which if sustained would amount to more than 10 percent per year.The U.S. accuses Beijing of keeping its currency undervalued, flooding the country with cheap exports and costing U.S. jobs. But many economists believe that the appreciation of RMB will help little to the U.S. employment."Treasury today again made the right call on China's currency policy in its latest exchange rate report," John Frisbie, President of the U.S.-China Business Council (USCBC) said in a statement after the U.S. Treasury Department'report."While USCBC believes that China should allow its exchange rate to better reflect market forces, designating China as a ' manipulator' would achieve nothing. USCBC continues to support the Obama administration's approach of combined multilateral and bilateral engagement with China as the most effective way to make progress on the exchange rate issue."

DAVOS, Switzerland, Jan. 28 (Xinhua) -- China and Switzerland formally launched bilateral talks on a free trade agreement Friday.Speaking at the opening ceremony, Chinese Commerce Minister Cheng Deming said the agreement talks between China and Switzerland have attracted huge attention and interest from the countries' leadership and business communities.Cheng expected a successful conclusion of the FTA negotiations. Cheng said a free trade agreement would enhance mutual trust between the two sides and promote economic development and closer ties between China and Switzerland.Swiss Federal Councilor Johann Schneider-Ammann expressed similar aspirations for the agreement as did his Chinese counterpart."The free trade agreement would further enhance trade and investment relations on a mutually beneficial basis, but also create many new opportunities for close exchange and cooperation," Schneider-Ammann said.China and Switzerland have seen fast-growing bilateral trade and investments for decade. In the past 10 years, China's exports to Switzerland have grown by 18 percent while Switzerland registered an even stronger 25 percent surge in exports to China.Currently, China is the largest trading partner of Switzerland in Asia, while Switzerland ranks ninth among China's trading partners in Europe.The Chinese commerce minister is leading a delegation at Davos to attend the World Economic Forum, which started Wednesday.
BEIJING, May 25 (Xinhua) -- A researcher with the Chinese Academy of Agricultural Sciences (CAAS) said Wednesday that plant hormones, if used properly, are not a risk to human health."Irregular use of plant growth substances may cause plants to grow excessively fast or affect the taste, but will not cause harm to human health," Ye Zhihua said in an interview with Xinhua.His remarks come after media reports in China about "exploding watermelons," caused by the excessive use of phytohormone, have aroused public concern over the safety of hormones that stimulate plant growth.Ye said plant hormones used to promote growth have the same or similar effects as natural plant hormones, and fruit and vegetables sold at the market carried limited residue of the hormones.More than 100 types of plant hormones, such as ethephon and gibberellin acid, are used in agriculture and forestry sectors around the world, Ye said, adding 38 types of plant hormones have been registered in China.For example, seven plant hormones including thidiazuron and nucleotide are approved for use on cucumbers in China. The purpose is to stimulate the growth of female flowers and increase fruit yields, Ye said.Ye added that China places plant hormones in the category of pesticides control, which means the hormones are subject to strict management from production to utilization.
BEIJING, Feb. 21 (Xinhua) -- China's top leading body Monday pledged to prevent wild swings in the economy, while warning that the economic situation in 2011 would be complicated.The country should maintain stable and consistent macro-economic policies while improving accuracy, flexibility and efficiency of the policies, the Political Bureau of the Communist Party of China (CPC) Central Committee decided at a meeting presided over by President Hu Jintao, who is also General Secretary of the CPC Central Committee.Officials at the meeting were urged to "remain sober, be aware of difficulties, and work hard to fulfill the tasks this year so as to create a good beginning for the 12th Five-Year Program (2011-2015)."The top echelon of leadership reassured that China would continue an active fiscal policy and prudent monetary policy, while trying to balance steady economic growth with economic restructuring and control of inflationary expectations."It is necessary to maintain stable commodity prices, expand domestic consumption, increase investment in agriculture, speed up industrial restructuring, promote education and development of science and technology, and improve people's livelihoods and cultural services," the Political Bureau of the CPC Central Committee urged at the meeting.It also reiterated the importance of making great efforts to expand reforms in key sectors, advance the cause of opening-up, while intensifying endeavor to build a clean government and fight corruption.Members of the Political Bureau of the CPC Central Committee also discussed the drafts of the government work report and the 12th Five-year Program, or the national development plan for 2011 to 2015.The two documents will be submitted to the top legislature for discussion and approval at its forthcoming annual session in March.The period from 2011 to 2015 will be critical for China which wants to build a well-off society, said a statement from the meeting.In the next five years, in a bid to meet Chinese people's expectations for a better life, China will stick to scientific development by focusing on accelerated transformation of its way of economic growth while deepening the reform and opening-up, guaranteeing and improving people's livelihoods, according to the statement."It is necessary to solidify and boost China's success in outperforming other countries in dealing with the international financial turmoil, and advance the economy to grow at a faster and steady pace for a long time while guaranteeing social harmony and stability," the statement said.Great efforts should also be made to develop social services, advance the cause of conserving energy and resources, protecting the environment in a down-to-earth manner, as well as keep intensifying the drive to enhance reform of the government, the statement said.
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