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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.

PRETORIA, April 1 (Xinhua) -- China has pledged to import more value-added products from South Africa to optimize bilateral trade.Top Chinese political advisor Jia Qinglin made this pledge on Wednesday when he delivered a key-note speech at the China-South Africa Economic and Trade Forum in Pretoria.South Africa was the last leg of Jia's 10-day African tour which has already taken him to Cameroon and Namibia. Jia had met with South African President Jacob Zuma and held talks with Mninwa Mahlangu, chairman of the National Council of Provinces of South Africa.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, addresses the China-South Africa Economic and Trade Cooperation Forum in Pretoria, South Africa, March 31, 2010. "China will continue to take measures to expand imports from South Africa, particularly those value-added products so as to increasingly optimize bilateral trade mix," said Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body.China has become South Africa's biggest trade partner and exporter as bilateral trade hit a historic high of more than 16 billion U.S. dollars in 2009, which was over ten times than that in 1998 when the two countries forged diplomatic ties, Jia said.

BEIJING, April 19 (Xinhua) -- Chinese Vice Premier Li Keqiang on Monday urged food quality authorities to strengthen supervision in order to to significantly improve food safety, consumer confidence, and the quality and reputation of domestic food.He instructed officials to focus on the prominent issues of food additives, farm products, processing, distribution and import and export, livestock slaughter, the catering industry and health supplements."Food is essential, and safety should be a top priority. Food safety is closely related to people's lives and health and economic development and social harmony," Li said at a State Council, or Cabinet, meeting in Beijing. Vice Premier Li Keqiang adressed a teleconference on food safety in Beijing on April 19, 2009.Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, also serves as head of a national food safety commission, established early this year."We must create a food safety system of self-disciplined food companies with integrity, effective government supervision and broad public support, to improve overall food safety," he said.He urged improvements in food safety standards, production inspections and emergency responses.Li called on officials to resume food safety inspection in quake-hit Yushu in northwest China's Qinghai Province to ensure the well-being of victims and rescuersThe meeting was also attended by vice premiers Hui Liangyu and Wang Qishan.

KABUL, April 25 (Xinhua) -- Two Chinese hostages who have been held by Afghan militants for over three months were released Saturday, the Chinese embassy said here Sunday.Yin Juming, the embassy charge d'affaires, told Xinhua that the two Chinese nationals working with the China Railway 14 Bureau were set free by the militants in western Afghanistan's Faryab province.Zhang Fengqiang, an engineer, and Wu Yulin, a worker, were seized by militants who claimed to be Taliban insurgents on Jan. 16 enroute from the working site to the residence camp in the province, said the Chinese diplomat.The duo were awaiting the journey back to China to reunite with their families, he said.

BEIJING, May 24 (Xinhua) -- Clean energy projects, specifically new energy vehicles, energy-efficient construction and clean coal technology, are the key areas of science cooperation between China and the United States, a Chinese official said here on Monday.According to a new agreement between the two countries, they will invest in joint laboratories, and support research in related areas, Cao Jianlin, vice minister of science and technology of China, told a news briefing on the second China-U.S. Strategic and Economic Dialogues."Both China and the U.S. are the major car production and consumption countries thus both seek to develop new energy vehicles," said Cao.China is the biggest construction market in the world and a major coal consumption country, while the U.S. is also eyeing energy conservation in construction and coal consumption, he said.The U.S. is a country with advanced technologies, and China also has cutting-edge technologies regarding energy applications. The complementary cooperation between the two will benefit both Chinese and American people, Cao added.