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BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

BEIJING, April 22 (Xinhua) -- The Chinese government announced a string of emergency measures Wednesday to provide convenient financial services for people in the quake-hit Qinghai Province and to support reconstruction.The People's Bank of China, the central bank, would lower the deposit reserve ratio for financial institutions in the quake area by 1 percentage point from Wednesday to help increase lending, said a statement posted on the website of the central bank.It would also reduce its rediscount rate for local Rural Credit Cooperatives by 1 percentage point to ease their financial burden.The rediscount rate is the interest rate charged to banks and deposit institutions when they borrow money from the central bank.The return of loans extended before the earthquake was not imperative until June 30, 2011. Residents and companies would be exempted from bad credit records if they could return their loans before the deadline, the central bank said.The statement urged local banks to resume business as soon as possible to meet rising demand for financial services.They should set up temporary outlets in tents, extend office hours and take measures to ensure adequate cash supplies so that residents could deposit and withdraw money conveniently.The measures were jointly introduced by the People's Bank of China, the China Banking Regulatory Commission, the China Insurance Regulatory Commission and the China Securities Regulatory Commission.The 7.1-magnitude quake struck the Tibetan Autonomous Prefecture of Yushu on April 14, leaving 2,183 people dead, 84 missing, and 12,135 injured as of Wednesday.

BEIJING, April 5 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao extended their regards to 115 miners late Monday who had been rescued alive after being trapped in a flooded coal mine for over a week.The two leaders also paid tributes to all the 3,000 rescuers who had been racing the clock to save the 153 trapped people since the flooding happened on March 28 in the Wangjialing Coal Mine in northern Shanxi Province.Hu and Wen ordered the rescue headquarters to step up efforts and go all out to save the other 38 trapped people.They also required local health authorities to give the most considerate treatment of the rescued miners.Altogether 261 miners were working underground when floodwater gushed into the pit of the mine, which was under construction, and 108 were lifted safely to the surface.

NANJING, May 2 (Xinhua) -- Chinese State Councilor Liu Yandong Sunday called for reform in talent cultivation and the education appraisal system among universities to boost innovation.The government would reform the education system to promote innovation, international vision and comprehensive abilities among students, Liu said at the opening of a forum of university presidents in Nanjing.Universities should explore new patterns of education with open minds and more cooperation with other research institutions and businesses, Liu said.Education and talent were the key elements in China's development.Liu also urged the universities to play a role as social think tanks to serve the country's economic and social development.Liu was speaking at the Chinese-Foreign University Presidents Forum, which was attended by the heads of about 150 universities around the world.

BEIJING, April 8 (Xinhua) -- The People's Liberation Army (PLA) and the Ministry of Education plan to open an online recruitment service for the first time to mobilize college graduates this year, a move seen as an effort to sharpen the army's high-tech edge.The PLA plans to recruit some 150,000 college graduates this year, according to a statement released after a meeting held Thursday by the PLA General Staff Headquarters and the ministry.Last year, China announced a series of preferential policies to encourage more young people with higher education to serve in the army, including a one-off payment of up to 24,000 yuan (3,500 U.S. dollars) for the student-turned soldiers. The money, paid by the central government, roughly equals the tuition cost of a four-year university education in China.Some 130,000 college graduates applied to join the army in 2009 and more than 100,000 were recruited, statistics from the statement show.Moreover, the age limit has been extended to 24 for those with a bachelor degree. The PLA recruits usually recruits men aged between 18 and 20 and women aged 18 or 19.