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BEIJING, Dec. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang has said finance should play a vital role in the country's macro control policies, while ensuring and improving people's livelihoods should be the priority of public finance.Li, speaking Monday at a national finance work conference, said China would stick to its proactive fiscal policy in 2011 and better handle relations between maintaining steady and relatively fast economic development, restructuring the economy and managing inflation expectations, according to a statement released on Tuesday.The country will also put more focus on stabilizing overall commodity prices and promoting a balance between supply and demand to ensure basic livelihoods for residents, Li said.Chinese Vice Premier Li Keqiang (C) speaks at a national finance work conference in Beijing, capital of China, Dec. 27, 2010. He pointed out that finance should play a larger role in accelerating the transformation of the country's economic development pattern.Fiscal policies should focus on boosting domestic consumption, increasing fiscal and taxation support to innovation, energy saving and industrial upgrading, and deepening the reforms in fiscal and taxation systems to make the systems conducive to the country's scientific development, Li said.China should improve the structure of fiscal expenditure and give fiscal policies full play in adjusting income distribution to improve people's livelihoods, he said.Further, Li said the country would build more affordable housing, step up supervision of the property market, curb speculation and increase its supply of commercial housing.China planned to build 10 million government-subsidized affordable housing units next year, almost doubling this year's target of 5.8 million units.

ST. PETERSBURG, Russia, Nov. 22 (Xinhua) -- China and Russia are willing to further advance cooperation on the humanities sector, said senior Chinese and Russian officials here Monday.At the 11th session of the China-Russia commission on cooperation on humanities, Chinese State Councilor Liu Yandong hailed the significant part cultural exchanges and cooperation has played to consolidate the social basis of China-Russia relations.The China-Russia commission on cooperation on humanities has made considerable achievements since its foundation ten years ago, said Liu, who laid a particular emphasis on the successful staging of reciprocal national years and language years in the two countries in recent years.Such events have injected new momentum into the comprehensive deepening of Sino-Russian strategic partnership of cooperation, she said.Chinese State Councilor Liu Yandong (2nd R) visits St. Petersburg State University in St. Petersburg of Russia, Nov. 22, 2010. Next year marks the 10th anniversary since the signing of Sino- Russian Good-Neighborly Treaty of Friendship and Cooperation, said Liu.Guided by the principle of China-Russia peace and friendship for generations that was established by the treaty, China is willing to continuously expand cultural cooperation with Russia, enhance traditional friendship between their two peoples, and promote the sustainable, stable and health development of bilateral strategic partnership of cooperation, said Liu.Russian Deputy Prime Minister Alexander Zhukov, who co-chaired the session with Liu, said the fruitful cultural cooperation between Russia and China is of vital importance to promote bilateral friendship and all-round deepening of bilateral ties.Russia is willing to closely collaborate with China in this regard to further cooperate on humanities, he said.The session meanwhile summarized major progress made over the past 10 years, during which both sides reached broad consensus on expanding cooperation on education, culture, health, sports, tourism, media, film, dossier, youth, among other sectors.After the session the two sides announced the setting up of a new subcommission on youth cooperation. Liu and Zhukov also attended a signing ceremony that witnessed the seal of several agreements on bilateral cultural, tourism and broadcasting cooperation.Also on Monday, Liu visited St. Petersburg State University and Repin Academy of Fine Arts, where she encouraged teachers and students to actively engage in bolstering cultural exchanges between China and Russia.Liu arrived in St. Petersburg on Nov. 20, kicking off her visit to Russia.

BEIJING, Dec. 12 (Xinhua) - A senior Communist Party of China (CPC) official briefed the non-Communist Party elites about a top-level CPC economic meeting that ended on Sunday.Du Qinglin, head of the United Front Work Department of the CPC Central Committee, briefed the leaders of the non-Communist parties and the All-China Federation of Industry and Commerce, as well as other public figures without party affiliations, on the guiding principles of the three-day Central Economic Work Conference.The CPC pledged to enhance and improve macro-economic regulation to ensure stable and healthy economic development next year at the annual meeting that set out major economic policy targets for 2011.Du also passed on the speeches of Chinese President Hu Jintao and Premier Wen Jiabao at the economic meeting to the non-Communist elites.Du said 2011 is the first year of the 12th five-year program and the non-Communist parties should fully recognize its significance.He urged them to study and implement the guiding principles of the economic conference and to actively make political recommendations to ensure a good start of the 12th five-year program.The CPC normally holds such a conference with non-Communist elites after a top-level meeting of its own.

BEIJING, Jan. 14 (Xinhua) -- China will increase the flexibility of the yuan exchange rate and further push forward the opening-up of its financial markets, a senior central bank official said Friday.China will continue the reform of the yuan exchange rate mechanism and keep the rate basically stable at a reasonable and balanced level, Li Dongrong, assistant governor of the People's Bank of China, said at a forum. The speech was posted on the central bank's website.The Chinese yuan strengthened to a record high against the U.S. dollar Friday, the central parity rate reaching 6.5896, the second straight day it has been set below 6.6 per dollar, according to the China Foreign Exchange Trading System.The currency has risen by more than 3 percent since the country's central bank announced in June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.Li also said the central bank will work to expand trials of cross-border yuan settlement, to facilitate trade and investment.The central bank will promote the policy of allowing exporters to park their foreign revenue overseas, Li said, adding that it will further develop the foreign reserves market and create tools to hedge exchange rate risk.Li's speech came after the central bank announced Thursday the nation's qualified businesses and banks may settle their overseas direct investment in yuan, a move that expands the Chinese currency's global reach and eases excess domestic liquidity concerns.Li also voiced concern about loose credit globally, saying such policies are adding to capital-inflow and currency-appreciation pressures, leading to asset bubbles in some emerging economies.China still faces many challenges, Li said. "Expectations for inflation are rising. Housing prices are still high in some cities. Pressure from continuous inflows of foreign capital is increasingly evident," he said.The central bank will soundly manage money supply and maintain reasonable growth in credit, he added.

BEIJING, Nov. 26 (Xinhua) - China on Friday called for a settlement to the territorial dispute between Israel and the Arab countries through negotiations.Chinese Foreign Ministry spokesman Hong Lei made the remarks while commenting on an Israeli bill that had been passed by the Israeli Knesset (parliament) Monday. The bill demands a referendum should any Israeli government make territorial concessions in East Jerusalem to the Palestinians or in the Golan Heights to Syria.Since the aftermath of the 1967 war, Israeli law requires a two-thirds majority of consent by the Israeli public when handing over territories to Palestine and Syria.However, the law goes against the spirit of United Nations (UN) resolutions and cannot change the fact that East Jerusalem and the Golan Heights are occupied lands of the Arab countries, Hong said."China calls on Israel to follow the relevant UN resolutions as well as the established principles of international laws to properly settle the territorial dispute through negotiations for the realization of a comprehensive, and lasting peace in the Middle East," said Hong.

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