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GUANGZHOU, Nov. 22 (Xinhua) -- What China can do for the world is not to sell out its massive dollar reserve, but slightly increase its hold of the currency to give reasonable support to the U.S. effort to save its economy, said a senior economist here on Saturday.     It is indeed difficult for China to handle its huge forex reserve, as the U.S. currency has already depreciated 20 percent against the Chinese yuan, said Cheng Siwei, well-known economist at a financial forum held in Guangdong.     "China would suffer from losses if it sells off the dollar, so our strategy should be not to sell, but to slightly increase dollar reserve," said Cheng, also former vice-chairman of the Standing Committee of the National People's Congress (NPC).     Cheng made the remarks amid increasing concern that China might use its forex reserve to finance its 4-trillion-yuan stimulus plan. China held 1.9 trillion dollars worth of forex reserve by September this year.     China "can only afford to do what is corresponding to its level of development and national power amid a global crisis," said Cheng.     "We should be prudent as to how to deal with our forex reserve," said Cheng, noting that China, despite its large size of economy, has its gross domestic product (GDP) accounting for only 6 percent of the world's total, and its per capita GDP ranking falling out of the top one hundred list.

BEIJING, Jan. 6 (Xinhua) -- China's rural areas have the biggest potential in boosting domestic demand, said Chinese Vice Premier Wang Qishan during visits to the countryside concluded on Tuesday.     China should "especially place priority on tapping the rural market and developing the countryside" when spreading global financial crisis blunted the country's economic growth, said Wang.     He made the remarks when visiting towns, rural stores and farmers in central China's Henan Province on Monday and Tuesday.     More chain stores should be set up in the countryside to facilitate rural consumption, Wang said.     He also urged local officials to well implement policies to subsidize farmers' purchase of home appliances.     Financial institutions should develop more services targeting the need of farmers and rural enterprises, he said.     In its latest effort to boost rural consumption, China has decided to roll out a 13-percent subsidy nationwide for farmers who buy home appliances, starting from Feb. 1.     China has announced a 4 trillion-yuan (586 billion U.S. dollars) fiscal package to stimulate domestic demand.

BEIJING, Nov. 9 (Xinhua) -- China will take 10 major steps to stimulate domestic consumption and growth as it turns to an "active" fiscal policy and "moderately easy" monetary policy, an executive meeting of the State Council said on Sunday.     Here are the 10 major steps:     -- Housing: Building more affordable and low-rent housing and speeding the clearing of slums. A pilot program to rebuild rural housing will expand. Nomads will be encouraged to settle down.     -- Rural infrastructure: Speeding up rural infrastructure construction. Roads and power grids in the countryside will be improved, and efforts will be stepped up to spread the use of methane and to ensure drinking water safety. This part of the plan also involves expediting the North-South water diversion project. Risky reservoirs will be reinforced. Water conservation in large-scale irrigation areas will be strengthened. Poverty relief efforts will be increased.     -- Transportation: Accelerating the expansion of the transport network. That includes more dedicated passenger rail links and coal routes. Trunk railways will be extended and more airports will be built in western areas. Urban power grids will be upgraded.     -- Health and education: Beefing up the health and medical service by improving the grass roots medical system. Accelerating the development of the cultural and education sectors and junior high school construction in rural western and central areas. More special education and cultural facilities.     -- Environment: Improving environmental protection by enhancing the construction of sewage and rubbish treatment facilities and preventing water pollution in key areas. Accelerating green belt and natural forest planting programs. Increasing support for energy conservation and pollution-control projects.     -- Industry: Enhancing innovation and industrial restructuring and supporting the development of the high-tech and service industries.     -- Disaster rebuilding: Speeding reconstruction in the areas hit by the May 12 earthquake.     -- Incomes: Raising average incomes in rural and urban areas. Raising next year's minimum grain purchase and farm subsidies. Increasing subsidies for low-income urban residents. Increasing pension funds for enterprise employees and allowances for those receiving special services.     -- Taxes: Extending reforms in value-added tax rules to all industries, which could cut the tax corporate burden by 120 billion yuan (about 17.6 billion U.S. dollars). Technological upgrading will be encouraged.     -- Finance: Enhancing financial support to maintain economic growth. Removing loan quotas on commercial lenders. Appropriately increasing bank credit for priority projects, rural areas, smaller enterprises, technical innovation and industrial rationalization through mergers and acquisitions.     These 10 moves are expected to have positive effects on cement, iron and steel producers amid a boom in infrastructure investment. Commercial lenders will benefit as loan ceilings are abolished, and medium-sized and small companies are likely to benefit from preferential policies.

BEIJING, Nov. 14 (Xinhua) -- China's government on Friday pledged to make every effort to ensure the safe release of the crew of a Chinese fishing boat seized by Somali pirates off east Africa.     The Chinese Foreign Ministry issued a statement saying it was still assessing the situation and trying to obtain more information on the vessel, which was overrun late on Thursday.     The ministry would work with organizations abroad to ensure the safe release of the crew, according to the statement.     The vessel, owned by Tianjin Ocean Fishing Company, was hijacked by pirates armed with grenade launchers and automatic weapons off the coast of Kenya and was being held off the southern Somali port city of Kismanyu, according to reports on Friday.     The 24 crew comprised 16 Chinese, one Japanese, three Filipinos and four Vietnamese, according to China's Ministry of Transport.     A Somali pirate leader reportedly said all the crew members were "fine".

Li Changchun (5th R, 2nd row), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, poses for photos with artists after a concert celebrating 30 years' reform and opening-up in Beijing Dec. 10, 2008. (Xinhua Photo)    BEIJING, Dec. 10 (Xinhua) -- Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, watched on Wednesday night a performance that marked the 30th anniversary of the country's reform and opening-up.     The concert in Beijing featured poem recitation and chorus of songs as an ode to the achievements China has made in the past 30 years.     It was one of a series of performances organized by the China Literature and Arts Federation to commemorate the anniversary.     Liu Yunshan, member of the CPC Central Committee Political Bureau and head of the CPC Central Committee Publicity Department, and State Councilor Liu Yandong also attended the event.