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BEIJING, March 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, auctioned 50 billion yuan (7.61 billion U.S. dollars) of three-month bills at a yield of 2.7944 percent on Thursday, temporarily easing speculation of an approaching interest rate hike.The yield on three-month bills stood unchanged from last week at 2.7944 percent.Also, PBOC sold 60 billion yuan (9.13 billion U.S. dollars) worth of 91-day repurchase agreements to banks on Thursday with a yield of 2.8 percent.Offsetting the 181 billion yuan (27.55 billion U.S. dollars) of bills and repurchase agreements that matured, PBOC took 49 billion yuan (7.46 billion U.S. dollars) of liquidity out of the money market this week through open market operations on Tuesday and Thursday.Market analysts have been watching PBOC's open market operations closely this week as the yield of its one-year bill sold on Tuesday exceeded the benchmark interest rate of one-year deposits, which some analysts interpret as a reason for an imminent interest rate hike.Chen Lan, an analyst with Guotai Junan Securities, said higher yields on central bank bills would boost PBOC's ability to absorb liquidity from the market amidst the country's economic tightening efforts."But the hike of interest rates is not an imminent task for the central bank amid the slowdown of China's industrial investment in February, which weakened consumer confidence, and economic uncertainty overseas," Chen said.China's industrial value-added output grew 14.1 percent in the first two months of this year, the National Bureau of Statistics (NBS) announced on Friday.The growth rate during the first two months was up by 0.6 percentage points compared to that in December of last year, according to figures released by the NBS.Chen predicted that PBOC will reduce its frequency to raise banks' reserve requirement ratio in coming months but said the rate hike expectation would continue this year as the government is hoping to curb the red hot property market and soaring inflation.China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, adding more monetary tightening pressure to the government. 

BEIJING, Feb. 23 (Xinhua) -- The Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, opened its door to 43 correspondents from 33 overseas media outlets on Wednesday, 10 days ahead of its upcoming annual session.It was the first time that the top political advisory body invited a group of overseas journalists, including those from Hong Kong, Macao and Taiwan, to tour its work place, which used to be the site of an imperial compound 100 years ago.The media tour was hailed by Zhao Qizheng, head of the CPPCC's Committee of Foreign Affairs, as a move that reflects the "enhanced openness" of the CPPCC.During the tour, resident reporters from countries and regions such as the United States, Russia, Germany and Japan visited the CPPCC auditorium and a gallery that exhibits the agency's history and its role in Chinese political life through numerous pictures and relics.Located in downtown Beijing, the CPPCC was established on September 21, 1949. It is a patriotic united front organization for Chinese people and serves as a key mechanism for multi-party cooperation and political consultation under the leadership of the Communist Party of China (CPC).The main functions of the CPPCC are to conduct political consultations, exercise democratic supervision and participate in the discussion and the handling of state affairs. Reporters raised many questions during the visit.Watanabe Yasuhito, a staff correspondent for the Kyodo News China General Bureau, has been working in China for four years. "As Japan doesn't have similar institutions like the CPPCC, the Japanese generally have little idea of it," he said. "I now have a more direct idea of the system by actually walking into the CPPCC."He told Xinhua that Kyodo News would send eight reporters to the upcoming two annual sessions of China's National People's Congress (NPC), its national legislature and the CPPCC, as many Japanese pay close attention to the major political events in China.He said the 12th Five-Year Program and hot economic issues are among their key concerns. At a one-hour seminar held during the tour, five reporters put forward nearly 10 questions to Zhao Qizheng.Ananth Krishnan, the China correspondent of the Hindu, India's national newspaper, has covered the "two sessions" several times. "I think the next five year plan will be one of the most important issues," he said."We will be interested to see whether there are any new policies in terms of China addressing environmental challenges," he said.He added that he focused on China's reform for the household registration system at the sessions last year so that he could see how China addressed the gap between urban and rural areas."There are similar developmental challenges between India and China since we are both large developing countries with more poverty in rural populations. So we are interested to see how China is addressing the challenges," he said.With the application still going on, overseas reporters who are to cover this year's annual CPPCC session are expected to exceed 1,100, similar to the figure last year, said Zhang Jing'an, head of the Bureau of News Service of the CPPCC's National Committee.Zhang said that besides the three news conferences in the Great Hall of People, five press conferences are devoted to issues such as China's urbanization, scientific innovation, culture and education. Conferences will also be arranged in the news center following annual sessions.Also, the number of panel discussions that were open to the media increased from more than 30 in 2007 to 122 in 2010, Zhang said.Zhao Qizheng told overseas reporters that "the CPPCC will continue to enhance openness during the upcoming session and welcome reporters from both here and abroad to cover the session."China's two annual sessions, the fourth session of the National Committee of the 11th CPPCC and the fourth session of the 11th NPC, will open on March 3 and March 5, respectively.

SINGAPORE, April 21 (Xinhua) -- Singapore's first locally-built satellite has been officially launched from a space center in India after a four-year delay, Singapore media reported on Thursday.The 105 kg fridge-size X-Sat was one of three riding on Isro's Polar Satellite Launch Vehicle (PSLV-C16) from the Satish Dhawan Space Center in India on Wednesday. It will be used to take photographs to measure soil erosion and environmental changes on earth, local daily Straits Times said.The launch at 12:42 p.m. on Wednesday was the 18th successful lift-off since the maiden flight of PSLV in 1994.The satellite was designed and built by Singapore's Nanyang Technological University and Singapore's defense research body DSO National Laboratories.Now in orbit, the satellite is establishing communication contact with the ground control in Nanyang Technological University, a process that is likely to take up to a week.The launch capped more than nine years of hard work by scientists and engineers. It also makes Singapore one of the first countries in Southeast Asia to have its own satellite in space. Previous satellite launched by Singapore involved construction efforts by foreign companies.

Google chairman Eric Schmidt has promised that the firm will simplify the process by which Android phone users agree to share their data.It follows questions in the US Senate about how much location information is stored by mobile handsets.Speaking in the UK at a conference on privacy, he also revealed that Google plans to offer web users more control over their online profile.Mr Schmidt insisted that the company took the matter "very seriously".He told attendees at the Big Tent debate in Hertfordshire that his firm was working on "a series of projects" aimed at increasing transparency.Those include a revised Google Dashboard, where users can see what data they have shared with the search giant."It is worth stressing that we can only do this with data you have shared with Google. We can't be a vacuum-cleaner for the whole internet," he said.Mr Schmidt stressed that Google was on the side of consumers when it came to privacy. "In general we take the position that you own your data and should be able to opt in or out of a service," he said.But he added that if users gave consent for sharing data, it would help Google improve its services."If you choose to give us that information we can do a better job. If we know a little bit more about you we can offer better targeted search," he explained.Super injunctions revealed A recent hearing in the US Senate quizzed Google on the amount of data stored on Android handsets. The company argued that it allows people to opt out of location-based services.But Mr Schmidt conceded that the terms and conditions whereby users sign up to services needs to be simplified. "We intent to do that," he said.He predicted that such services would be more heavily regulated in the future.During a lively debate on the issue of privacy, it was revealed to the Big Tent audience, alongside several names of current super-injunction holders, that more data has been collected in the last seven years than in the whole of previous human history.