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BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.

BEIJING, Aug. 19 (Xinhua) -- China's domestic corn supply was adequate, and a recent price increase was the result of market speculation, a senior official told Xinhua Thursday.Shang Qiangmin, director at the China National Grain and Oils Information Center, said both the supply and corn reserves were adequate in China and the government was determined to regulate the corn market."Imbalance between corn supply and demand is a misjudgement," Shang said.Although floods that ravaged the country's northeastern regions in late July have caused adverse impacts on regional corn growing, final output was expected to increase from one year earlier due to the expanding of planting areas, Shang said."China has enough corn reserves to meet market demand," he said.The buying boom in the northeastern region is currently caused by enterprises' increasing corn stocks on speculation of price increase, he said.According to Shang, corn stocks at major grain enterprises in northeastern Jilin, Liaoning and Heilongjiang provinces, and Inner Mongolia Autonomous Region, increased by 5.12 million tonnes at the end of July compared with one year earlier.The Chinese government has strengthened macro control of corn market by increasing supply and cracking down on illegal activities that force up corn prices.As the world's major corn producer and consumer, China's annual corn production and consumption both exceed 150 million tonnes.

BEIJING, Aug. 23 (Xinhua) -- China's top legislature Monday opened its bimonthly session with a series of draft laws and amendments, including the amendment to the Criminal Law and a draft law on intangible cultural heritage (ICH) protection.The session of the Standing Committee of the National People's Congress (NPC) continued to deliberate draft amendments to the Law on Officers in Reserve Forces, the draft People's Mediation Law, as well as the draft Law on the Application of Laws to Civil Relationships Involving Foreign Interests.Lawmakers also deliberated for the first time draft amendments to the the Law on Deputies to the People's Congress, draft amendments to the Criminal Law, the draft Law on the Protection of Intangible Cultural Heritage, and the draft revision of the Water and Soil Conservation Law.The amendment to Criminal Law proposes reducing the number of crimes subject to death penalty from 68 to 55. It also gives a definition of "organization in the nature of a criminal syndicate" and lists tougher punishments for crimes by such organizations.Drink driving, intentionally defaulting on payment to employees and illegal human organ trade are to be listed as crimes in the Criminal Law, according to the amendment.The draft law on ICH protection includes a definition of ICH, mechanisms for ICH surveys, regulation of the inheritance of ICH, and penalties for its destruction.Lawmakers on Monday also heard a report on the NPC Standing Committee's research results on issues for the formulation of the 12th Five-Year Plan (2011-2015). ' The NPC, for the first time in history, completed 15 research reports on 14 major subjects from March to July to provide proposals for the formulation of the keynote plan, after Wu Bangguo, chairman of the NPC Standing Committee, called for the research at the annual legislative session in March.Lawmakers discussed the constitutional reform package of Hong Kong, which refers to the amendments to the methods of selecting the region's chief executive and forming the Legislative Council in 2012.They also heard a report by the State Council on a proposal for the NPC to ratify the International Convention for the Suppression of Acts of Nuclear Terrorism.

CAIRO, July 5 (Xinhua) -- A seminar aimed at improving the levels of trade between Egypt and China was held in Cairo late Monday.The two-hour forum was attended by about 60 officials and representatives from both Egyptian and Chinese companies. Cao Jiachang, commercial counselor at the Chinese embassy to Egypt and Mohamed Shafeek, chairman of Egypt's General Authority for Imports and Exports Control, joined the discussion.The forum discussed the pre-shipment inspection of Egypt's imported industrial products from China and other topics such as the improvement of trade structure between the two countries.In February 2009, China's top quality watchdog and Egypt's Ministry of Trade and Industry signed a memorandum of understanding for pre-shipment inspection of Chinese industrial products exported to Egypt.Trade and economic cooperation between China and Egypt have seen rapid development in recent years. In 2009, bilateral trade volume reached 5.86 billion U.S. dollars.

CHENGDU, June 20 (Xinhua) -- Senior Chinese leader Zhou Yongkang has urged Party and government departments across the country to focus on improving people's livelihoods to manage social security.Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during a two-day meeting on the country's social security management that ended Saturday."Currently, our country's overall social situation is stable... But at the same time, we must see that various conflicts have been emerging, especially as many incidents happened recently that harmed the country's stability and induced tremendous negative effects," Zhou said.He noted that such cases exposed the weaknesses in social construction and social management."Party and government departments should focus their work on ensuring and improving people's livelihoods, and making greater efforts in solving prominent issues in education, employment, medical treatment and social insurance in order to let both urban and rural people share the fruits of the country's development," he said.Zhou also urged social security officials to strengthen social construction and management with more effective measures and greater resolution.During the meeting, representatives from various regions reviewed their working experiences in managing social security.