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BEIJING, June 16 (Xinhua) -- For the first time in more than one year, China reduced its holding of U.S. Treasury bonds, and experts told Xinhua Tuesday that move reflected concern over the safety of U.S.-dollar-linked assets.     Data from the U.S. Treasury showed China pared its stake in Treasury bonds by 4.4 billion U.S. dollars, to 763.5 billion U.S. dollars, as of the end of April compared with March.     Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University, told Xinhua that the move might reflect activity by China's institutional investors. "It was a rather small amount compared with the holdings of more than 700 billion U.S. dollars."     "It is unclear whether the reduction will continue because the amount is so small. But the cut signals caution of governments or institutions toward U.S. Treasury bonds," Zhang Bin, researcher with the Institute of World Economics and Politics of the Chinese Academy of Social Sciences, a government think tank, told Xinhua.     He added that the weakening U.S. dollar posed a threat to the holdings of U.S. Treasury bonds.     The U.S. government began to increase currency supply through purchases of Treasury bonds and other bonds in March, which raised concern among investors about the creditworthiness of U.S. Treasury bonds. The move also dented investor confidence in the U.S. dollar and dollar-linked assets.     China, the biggest holder of U.S. Treasury bonds, is highly exposed. In March, Premier Wen Jiabao called on the United States "to guarantee the safety of China's assets."     China is not the only nation that trimmed holdings of U.S. Treasury bonds in April: Japan, Russian and Brazil did likewise, to reduce their reliance on the U.S. dollar.     However, Tan said that U.S. Treasury bonds were still a good investment choice.     Hu Xiaolian, head of the State Administration of Foreign Exchange, said in March that U.S. Treasury bonds played a very important role in China's investment of its foreign exchange reserves. China would continue to buy the bonds while keeping an eye on fluctuations.     Zhang said it would take months to see if China would lower its stake. Even so, any reduction would not be large, or international financial markets would be shaken, he said.     Wang Yuanlong, researcher with the Bank of China, said the root of the problem was the years of trade surpluses, which created the huge amount of foreign exchange reserves in China. It left China's assets tethered to the U.S. dollar, he said.     He said making the Renminbi a global currency would cut China's demand for the U.S. dollar and reduce its proportion in the trade surplus.

BEIJING, May 17 -- Shanghai will step up efforts to lure more talent, beef up development of its legal system and improve its credit database as part of efforts to develop a global financial center, Vice Mayor Tu Guangshao said Saturday.    The city will also enable financial markets and institutions to play an important role in financial innovation and make the Pudong New Area a pioneer for financial reforms, Tu told the Lujiazui Forum in Shanghai.     "To realize our goals, we need a combination of forces," said Tu. "We need guidance and support from the central government in terms of rules' drafting and coordination. We also need financial markets and companies to make contributions." From left: Xu Xiaonian, professor of CEIBS, Hu Zuliu, chairman of Goldman Sachs China, Xie Guozhong, board member of Rosetta Stone Advisors, Ha Jiming, chief economist of China International Capital Corp and Wang Qing, chief economist of Morgan Stanley China discuss issues at the Lujiazui Forum Saturday    Shanghai must have "breakthrough and innovation" in its measures to attract financial talents, the most important element in building the city into an international financial hub, Tu said.     The city should also have a solid financial legal system and the municipal government is working to improve the arbitrary, hearing and verdict processes of financial cases, according to Tu.     He added that local government will cooperate with the People's Bank of China to improve the city's credit environment. One focus will be the establishment of a credit ratings system for small- and medium-sized enterprises to facilitate fundraising, Tu said.     Xu Lin, Party Secretary of Pudong New Area, told the forum the district will shore up its preparation for financial innovation, including establishing an over-the-counter equity exchange for start-up technology firms.     Pudong will also trial programs to settle cross-border trade using the yuan and to set up consumer finance companies to fund people's purchases of durables such as home appliances and electronics.     Xu also noted that Pudong will fast track the development of financial services for the shipping industry as China pursues building Shanghai into an international financial and shipping hub by 2020.     "The district will encourage capital from various sources to help innovation and upgrade industry," Xu said. "More credit support will be given to small companies in terms of innovation."     Financial experts attending the two-day Lujiazui Forum, which ended Saturday, called on the city to take more measures to retain talent and financial institutions.     "The major European and US markets are reshuffling after the crisis and it has created a good opportunity for Shanghai to lay a sound basis and infrastructure for rising as an international financial center," said Laura Cha, deputy chairman of the Hongkong and Shanghai Banking Corp.     "We should learn lessons from them and avoid the mistakes they have made."     Shanghai is still lagging behind in terms of financial talent both in quality and quantity, she added.     She suggested shoring up the city's financial high education sector and rotating financial talents to develop more overseas experience.

BEIJING, July 3 (Xinhua) -- Rainstorms since early the week have swept a wide swathe of south China, leaving dozens people dead or missing and forcing hundreds of thousands to evacuate.     In Jiangxi Province, two people were killed, three more were missing and more than 100,000 have been evacuated following the heaviest rain this summer, local flood control authorities said. The rain damaged 178,000 hectares of crops, caused 8,231 houses to collapse, and incurred a direct economic loss of 1.31 billion yuan (191.7 million U.S. dollars). Flood submerges houses at the Xinyuan village in Ruijin, a city of east China's Jiangxi Province, July 3, 2009. More than 60,000 people have been transfered due to the flood caused by heavy rainfall in south Jiangxi Province    By 3 p.m. Friday, average rainfall in the province was 97.4 millimeters, while the maximum topped 540.8 millimeters in Niedu town of Chongyi County. The province, for the first time in history, issued the highest level of rainstorm alarm on Friday.     Many reservoirs were swollen because of the rain, among which six were discharging water, while levels in the rest were under the alarm line.     In Guangxi Zhuang Autonomous Region, four were missing and 11,845 were evacuated. The torrential rain also damaged 12,440 hectares of crops and killed 53,300 head of cattle. People walk on a flooded street in Guilin, a city of southwest China's Guangxi Zhuang Autonomous Region, July 3, 2009. Due to heavy rainfall, the water level of Lijiang River which passes Guilin reached 147.5 meters at 17:00 pm on Friday, 1.8 meters over the alert level. Some scenic spots in Guilin City has been closedBoats have been banned on the Lijiang River as water levels rose to alarming levels, Chen You, head of Guilin maritime bureau, told Xinhua late Friday.     In Hunan Province, seven were killed and one was missing in rainstorm-related disasters. The rainstorms damaged 113,000 hectares of crops, killed 6,500 head of cattle.     The rains also disrupted traffic on 79 roads and forced 152 businesses to halt production in Hunan.     In north, Beijing is plagued with higher-than-normal temperature and it is forecast to receive less-than-normal rainfalls.     The Chinese capital on Friday issued an orange alert for hot weather, the third of its kind this summer. Temperature in parts of the city exceeded 37 Celsius degrees Friday. Halted bamboo rafts are seen on the Lijiang River in Guilin, a city of southwest China's Guangxi Zhuang Autonomous Region, July 3, 2009. Due to heavy rainfall, the water level of Lijiang River reached 147.5 meters at 17:00 pm on Friday, 1.8 meters over the alert level. Some scenic spots in Guilin City has been closed

URUMQI, July 18 (Xinhua) -- Nearly two weeks after the July 5 riot in Urumqi of northwest China's Xinjiang Uygur Autonomous Region, social order and people's lives are returning to normal. Yet in retrospect, a mass of evidences show that the unrest was a well-planned violent criminal incident of terrorist nature.     FEINT BEFORE VIOLENCE     Investigations by reporters reveal a salient feature of the riot, that is the perpetrators adopted the tactic of mass rally and making trouble in the open, which attracted people's attention and police force, while committing beating, smashing, robbery and arsons in other places.     At about 6:00 p.m. July 5, some persons gathered in the People's Square, continuously making phone calls and sending text messages. Some people were shouting slogans to attract passersby. The crowd grew larger and larger.     According to the local police department, about 1,500 policemen were sent to the place to maintain order and disperse the crowd.     At about 8:00 p.m., the police were told that a group of thugs were beating innocent people, smashing cars and buses, and burning police cars at Er Dao Qiao in a southern area of the city.     Xinhua reporters at the area spotted the body of a victim under a bridge, people fleeing in all directions, shops closing, mobsters smashing and setting fire as they walked along, more and more shops, automobiles and public facilities got destroyed and people got hurt.     At the same time, people gathered in the People's Square began to walk to the south.     According to two officials from the local committee of ethnics and religions who walked after these people, at the Longquan Street intersection, someone jumped out of the crowd and began to instigate people to join and follow them. The Longquan Street is a major passage leading to the Er Dao Qiao area.     At about 8:40 p.m., the crowd reached the Tianchi Road - close to the Er Dao Qiao area -- and were joined by about 200 people with clubs.     The two officials said that as fewer than 20 policemen lined up across the street to stop the crowd, someone in the crowd commanded the crowd to dash through the police line. A policeman was beat down and the crowd continued to move south with more violent behaviors.     According to the policemen who were at the scene, the crowd walked as long as several kilometers and more people joined in when the violent situation was worsening.     SUDDEN ERUPTION ALL OVER     According to the local public security department, at about 9:00 p.m., the department received reports that thugs were making violence in more than 50 places in the city, attacking passersby, cars, shops, resident buildings, police and government offices.     The city's first aid center said they received numerous SOS calls starting from 8:23 p.m., resulting in the breakdown of the telephone switching system.     According to the center, from the night of July 5 to the next morning, it sent out ambulances for 737 times to give medical support to about 900 injured people.     A young woman told Xinhua that she was in a bus when the thugs started the violence. "There were also thugs in the bus. It was like they colluded over the whole thing and just waited in the bus for the time to come."     The girl said that she was beat "powerfully" in the head while trying to get off the bus after the driver opened the door. She was later sent to hospital for treatment.     "If there were no plan or organizing in advance, how could so many people appear in more than 50 places at the same time with the same violent behaviors?" an expert on public security told Xinhua.

BEIJING, June 1 (Xinhua) -- As millions of Chinese children celebrated Children's Day Monday, Premier Wen Jiabao shared a light moment with 100 young students invited to his office in downtown Beijing.     In two hours squeezed from tight schedule, Wen danced, sang and chatted with the children from all over the country. He encouraged the youngsters to study hard, and to grow up well-educated with loving hearts.     "It is love that brings you together and here today. I hope you understand what love is, how to cherish love and learn to love others," the 67-year-old premier, also a grandfather, told the excited children. Chinese Premier Wen Jiabao (C) attends a celebration with children for the International Children's Day in Beijing, capital of China, June 1, 2009The outing resulted from an initiative of Beijing's Zhongguancun No. 3 Primary School, which raised funds through student charity work to sponsor visits by children from other parts of China to the national capital on Children's Day.     More than 70 children, belonging to 55 ethnic groups, were invited from 18 provinces and autonomous regions. In a letter to Wen, they asked if they could meet him.     Their wish came true on Monday when they arrived at Zhongnanhai, the central leadership's compound near the Forbidden City in central Beijing. Chinese Premier Wen Jiabao (2nd R Front) receives a calligraphy work presented by a child during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. Smiling Wen received a gift from the children -- a red scarf usually worn by the Young Pioneers. He showed the children an office used by Premier Zhou Enlai before he died in 1976, where the children recited an article in their textbook describing how the widely-respected statesman was dedicated to his work.     At an auditorium specially decorated with children's paintings, balloons and greeting cards, Wen listened attentively as the children discussed their trip to Beijing.     Sangye Lhamo, from Medog County in southwestern Tibet Autonomous Region, attracted the premier's attention because he knew Medog was China's only county without paved roads. Chinese Premier Wen Jiabao (C) views the children's drawings during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009. "You must come from the remotest place compared with other kids here. How did you make it?" Wen asked.     Sangye Lhamo said they spent 10 days traveling, trekking over snow-capped mountains.     Wen said he hoped Sangye Lhamo's trip to Beijing would not be so hard in future, "because the government will build a road to your hometown from Lhasa (Tibet's capital) soon."     Shan Danleng's hometown, Leigu in Beichuan County, Sichuan Province, was devastated by the magnitude 8 earthquake on May 12 last year. But she told Wen that she and her schoolmates had moved into new classrooms last month, with the support of loving people. Chinese Premier Wen Jiabao (C) leads the children for a tour of the Zhongnanhai leadership compound during a celebration of the International Children's Day in Beijing, capital of China, June 1, 2009."Today we gather here like a big family. It's all because of love," Wen said. "I hope you will learn to love your parents, your hometowns and your country. With love we can unite together to build a better future for our motherland."     He also told accompanying teachers and officials to use the true, the good and the beautiful as principles in education.     The young visitors each left with a Chinese language dictionary and a set of Chinese literary classics, all autographed by Wen.

来源：资阳报