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BEIJING, May 22 -- The State Council yesterday ordered government departments to cut spending by 5 percent this year to free up money for quake reconstruction. The money will help to finance a 70 billion yuan (10 billion U.S. dollars) fund for rebuilding after the May 12 quake, which killed tens of thousands, the Cabinet said on its website. Chinese Premier Wen Jiabao speaks on the quake relief work during a meeting of the State Council, in Beijing, capital of China, May 21, 2008.The death toll from the quake rose to 41,353 by noon yesterday, and 274,683 were injured, according to the Information Office of the State Council. The number of missing has been put at 32,666. The overall impact of the quake on China's fast-growing economy is expected to be limited. Sichuan is a major source of coal, natural gas and some farm goods but has little industry. The quake destroyed thousands of buildings, knocked out power and phone services and damaged factories, mines and other facilities. State-owned and private companies suffered 67 billion yuan (9.5 billion U.S. dollars) in quake losses, according to the government's preliminary estimates. Yesterday's Cabinet statement gave no details of how much money the spending cuts were expected to raise. But the reported budget for the central government this year, including the military, is 1.3 trillion yuan (187 billion U.S. dollars) - and 5 percent of that would be 65 billion yuan (9.3 billion U.S. dollars). Beijing will set a moratorium on new government building projects, Premier Wen Jiabao told a State Council meeting. Wen said the quake "added uncertainties" to the economy but he said it was stable and its fundamentals were not affected, Xinhua reported. Donations to quake-hit regions reached 16 billion yuan (2.29 billion U.S. dollars), of which 1.76 billion yuan (250 million U.S. dollars) has been forwarded to affected areas, according to the information office. In addition, the Ministry of Finance announced yesterday that it has allocated another 660 million yuan (94.83 million U.S. dollars) in relief funds to quake-stricken areas. As the summer draws near, the quake-hit regions are facing mounting pressure to prevent epidemics. About 45,000 medical workers are working in all quake-hit counties and townships in Sichuan, according to the Ministry of Health. About 1,196 tons of disinfectants and bactericides were distributed, the ministry said in a statement. In seven out of the 11 worst-hit counties, sanitation work has been completed and in the other four, one-third of the townships have been covered. According to local health departments, doctors found 58 cases of gas gangrene, a bacterial infection that produces gas within gangrenous tissues, as of Sunday. But officials said the virus does not affect people without open wounds. Meanwhile, rescuers are still fighting time to find survivors. According to the Department of General Staff of the People's Liberation Army, rescuers saved and evacuated 396,811 people to safe places as of yesterday noon. A total of 6,452 have been dug out alive from the rubble, with 77 rescued in the 36 hours to noon yesterday. The Ministry of Health said that 3,424 people injured in the quake had died in hospitals. Hospitals have taken in 59,394 injured people since the quake, of whom 30,289 were discharged, the ministry said. Power has been restored in most parts of quake-hit areas but Beichuan County, one of the worst hit, remained blacked out and electricity in Hongyuan was cut off again due to aftershocks, the State Electricity Regulatory Commission said in a statement. Experts yesterday said there was no need to worry that the 33 lakes in Sichuan - formed after landslides blocked rivers - would burst their banks. "Generally speaking, those lakes are safe because the flood season is yet to come," said Liu Ning, general engineer of the Ministry of Water Resources. "We are monitoring the lakes round the clock," he added.
BEIJING, April 13 (Xinhua) -- Chinese companies will no longer need the central bank's approval when issuing short-term bonds on the inter-bank market amidst government efforts to boost direct financing and reduce bank loan risks. The People's Bank of China (PBOC) announced non-financial companies could issue bonds with maturities of less than one year on the inter-bank market without its approval from April 15. Instead, they would only need to register at the National Association of Financial Market Institutional Investors set up in September, the PBOC said in a statement issued late on Saturday. It said other negotiable notes "with a certain maturity" issued by non-financial companies on the inter-bank bond market wouldn't need administrative examination and approval, either. Nor would future innovative financing tools on the market. China has vowed to develop its capital market and broaden direct financing channels to curb enterprises' heavy reliance on bank credit. "China's financial structure has long been unbalanced, with its direct financing underdeveloped," said the statement. "Enterprises rely on bank loans too much, bringing them fairly large hidden risks." To boost innovation in debt offering and raise the share of direct financing could mobilize the transfer of deposits to investment and decrease credit risks of the banking system, it said. China allowed companies to offer short-term bonds to qualified institutional investors on the inter-bank market in May 2005. From then to the end of 2007, 316 companies issued 769.3 billion yuan (about 109.9 billion U.S. dollars) of short-term bonds, with 320.3 billion yuan of outstanding debts, statistics showed. In comparison, short-term loans to non-financial companies and other institutions surged 1.25 trillion yuan in 2007, while middle- and long-term loans jumped 1.65 trillion yuan.

BEIJING, Sept. 21 (Xinhua) -- China would deepen economic and trade cooperation and step up strategic and mutually beneficial relations with Japan, Chinese President Hu Jintao said on Sunday. "China hopes the two sides would work together to enhance economic and trade cooperation, aiming at realizing mutual benefit and development," Hu told members of a delegation from the Japan-China Association on Economy and Trade (JCAET). JCAET honorary president Fujio Mitarai and president Fujio Cho congratulated China on the success of the Olympics and Paralympic Games, and expressed willingness to push forward bilateral ties. Hu expressed gratitude for Japanese aid after the Sichuan earthquake and for supporting the Beijing Olympics and Paralympics, praising the JCAET for "important contributions to the improvement and development of bilateral ties". Chinese President Hu Jintao (R) meets with Fujio Mitarai (2nd L), honorary president of the Japan-China Association on Economy and Trade (JCAET), and Fujio Cho (1st L), president of JCAET, at the Great Hall of the People in Beijing, capital of China "China would work with Japan to enhance strategic trust, mutual contact and coordination in regional and international affairs, in accordance with the two countries' four political documents," Hu said. "China is willing to handle sensitive affairs appropriately together with Japan," he added. JCAET was established in 1972 to promote economic exchanges between the two countries
BEIJING, Sept. 12 (Xinhua) -- A preliminary investigation confirmed the contaminated Sanlu baby milk powder as the cause of kidney stones in infants after a first-phase probe by experts, China's Ministry of Health said here on Friday. An investigation team jointly organized by departments including the health, public security, agriculture ministries and quality watchdog examined the urine and kidney stones of the infant patients and found the substance melamine therein. The investigation team, which is in Shijiazhuang, Hebei Province, where dairy producer Sanlu Group is based, is now coordinating with the local government to investigate the incident. "Those responsible for the contaminated milk will face severe punishment," said an official with the team. The team arrived in Hebei on Friday. After listening to the local government's report on its handling of the incident, they collected samples and documents from the Sanlu Group and the local quality testing agency. They also visited the affected babies in local hospitals and gave advice on the treatment. Sanlu, one of China's leading dairy producers, found during an internal company investigation in August its powdered milk products were contaminated with melamine, according to the team's investigation. Parents of the babies with kidney stones tell the reporter about their kids' drinking state at a military hospital in Lanzhou, capital of northwest China's Gansu Province, Sept. 11, 2008. So far this year, Gansu Provincial Health Department has seen 59 kidney stone cases in infants, and at least one baby died as a result of kidney stones. Most of them live in rural areas of the province. There were no such cases in 2006 or 2007The statement didn't say why the company didn't release the findings until news reports exposed dozens of babies became sick with kidney stones after consuming the Sanlu brand of baby milk powder for a prolonged period. Health experts said melamine is a chemical raw material. Ingestion can lead to stone formation in the urinary tract. A thermosetting plastic, melamine has an appearance similar to milk powder. It is widely used in manufacturing fabric, glue, housewares and flame retardants. "The substance gives the appearance of a high nitrogen level, which is an index to measure the protein content in food," a health expert told Xinhua. He declined to be named. One baby in the northwest Gansu province died from the stones. At least 59 cases had been reported in Gansu and other provinces. Sanlu had sealed off 2,176 tons of contaminated milk powder and recalled 8,210 tonnes from the market. There were still 700 tonnes in circulation. All the contaminated formula was produced before Aug. 6. Supermarkets in some provinces had started to pull the milk powder off shelves. The Health Ministry said on Friday it had launched a nationwide investigation into the contaminated milk formula. All local health agencies were to report cases of infants with kidney stones immediately. It also issued a treatment plan on its website (www.moh.gov.cn) to help hospitals deal with sick babies.
ZHENGZHOU, Sept. 10 (Xinhua) -- Chinese President Hu Jintao visited a special education school and a rural middle school in the central Henan Province to mark the country's 24th Teachers' Day, which falls on Wednesday. At the Zhengzhou Deaf-Mutes School in the provincial capital, Hu, also general secretary of the Communist Party of China (CPC) Central Committee, commended the teachers for bringing sunshine and hope to the handicapped children with their love and hard work. He said the cause of special education deserved respect from the whole society, urging the 110-strong faculty members to give more care and even better education to the children for their healthy growth. Chinese President Hu Jintao (R Front) shakes hands with a teacher as he visits Gaomiao Middle School in Qinghua Town of Bo'ai County under Jiaozuo City, central China's Henan Province. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10In the classrooms, the president told the students about the significance conveyed by the ongoing Beijing Paralympic Games, and encouraged them to build themselves a bright future with the help of the society and the teachers. On Tuesday morning, Hu also visited a rural junior high school called the Gaomiao Middle School, in Qinghua Township, Jiaozuo City. He sent his greetings to the teachers, saying their diligent work has helped many children from the countryside realize their dreams. He promised to further improve rural teachers' working and living conditions and told them to foster more talents for the country. Chinese President Hu Jintao (C) shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10Hu also expressed concern about children left behind by parents who were working in cities as migrant workers, saying the country was taking measures to give them better care. The president also visited the school kitchen and the students' dormitory, telling the school to take good care of their life. After playing together with the students on the playground, Hu talked with student Huang Zaizhen, encouraging him to study hard to become a person of use for his hometown and for the homeland. He led the students in the applause in honor of the teachers. Chinese President Hu Jintao (C) shakes hands with a teacher as he visits a school for blind, deaf and dumb students in Zhengzhou, capital of central China's Henan Province, on Sept. 10, 2008, the 24th Teachers' Day of China. President Hu Jintao made an inspection tour in Henan Province from Sept. 8 to Sept. 10
来源:资阳报