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GUIYANG, Jan. 30 (Xinhua) -- Chen and her mentally handicapped son moved into their newly finished home last December. Shortly afterwards, a month-long cold wave with heavy snow hit their hometown, as well as the majority of southern China.It would have been "terrible" to stay in the old home in such cold weather, said 66-year-old Chen Houlian, a villager from the Tongzi County of southwestern China's Guizhou Province.Dropping temperatures and occasional sleet were predicted before this year's lunar New Year festival, which begins next Thursday.Behind the new home stood their old adobe cottage, with visible cracks on the clay walls. Wooden doors and window frames of that cottage were covered with black smoke due to more than 40 years of indoor cooking, while those of the new house were painted bright blue.In fact, the old house might collapse after the heavy snow, according to Jin Jing, deputy head of the County.Chen's family was one of the poorest in town. The farmland they grew crops on barely produced enough corn and cabbage to meet their needs, while the minimum living subsistence allowance of 2,200 yuan (334 U.S. dollars) each year was their total annual income.They would never be able to afford to build a new home on their own without receiving financial aid from a government project, Jin added.Chen's new house cost over 40,000 yuan. They received 20,000 yuan from the project and 5,000 from the local federation of people with disability. The rest was borrowed from relatives and neighbors.Five pairs of red couplets were posted by each door and window to express their gratitude to all the people who had offered help.On the day they moved in, Chen held an outdoor banquet for the entire village using borrowed money to mark the happiest event this family had witnessed for many decades.The government-funded project was launched over two years ago, after a deadly snow storm hit southern China during Jan-Feb 2008, collapsing nearly half a million rural houses and causing damage to another 1.7 million.The project was designed to provide funds to residents living in dilapidated buildings in impoverished rural regions so they might renovate or build new homes.In Guizhou alone, over 600,000 families had finished building new homes by the end of 2010 with help from that project, as over 4.7 billion yuan was allocated to subsidize this building.The project was part of China's efforts to build its social-security-based housing system, which also includes affordable housing, low-rent housing and public rental housing programs to meet the needs of low-income people amid surging property prices across the country.
BEIJING, Jan. 27 (Xinhua) -- The State Council, China's cabinet, has approved on a trial basis the launch of property tax reforms in some cities.The pilot reform will tax property owner-occupiers for the first time, officials from the Ministry of Finance, the State Administration of Taxation and the Ministry of Housing and Urban-Rural Development said Thursday.China's 1986 provisional property tax regulations did not tax owner-occupiers.The cities themselves will decide the details of the real estate levy. File photo taken on Apr. 23, 2010 shows residential areas in Shanghai, east China. The State Council, China's cabinet, has approved on a trial basis the launch of property tax reforms in some cities. Shanghai and Chongqing are cities that will trial the tax first. Shanghai sets its property tax rate at 0.4 to 0.6 percent. Municipalities impose property taxes on owners of real estate based upon the value of the property.Shanghai and Chongqing are cities that will trial the tax first.Shanghai set its property tax rate at 0.4 to 0.6 percent. Chongqing sets its at 0.5 to 1.2 percent.
DAVOS, Switzerland, Jan. 29 (Xinhua) -- China is ready to push the decade-long Doha Round negotiations for a final success, Chinese Minister of Commerce Chen Deming said here on Saturday.Speaking at the World Trade Organization (WTO) Mini-Ministerial Meeting which brought together representatives from over 20 major trading powers, Chen said that China is ready to collaborate with other WTO members in a practical and proactive manner so as to draw a successful conclusion of the Doha Round talks by the end of 2011.A rapid conclusion of the negotiations, Chen said, will be beneficial to global economic recovery, which is to the interest of all.The commerce minister acknowledged the year 2011 as a "window of opportunity," albeit a narrow one."China will give support to the roadmap proposed by WTO Director-General Pascal Lamy," he said, adding that the country is willing to act vigorously to push forward the negotiation process.To ensure that an early final deal could be in reach, Chen said, parties should set goals in a practical manner, in accordance with the ambition level, and stick to what has been achieved as well as the Doha Development Agenda (DDA), while focusing primarily on pending issues.Held on the sidelines of the annual World Economic Forum, the WTO Mini-Ministerial Meeting is an annual event under the auspices of the Swiss Federal Government.Chen on Friday also joined discussions with his counterparts from the emerging club -- India, Brazil and South Africa, before attending the trade G7 meeting, consisting of Australia, Brazil, China, the European Union, India, Japan and the United States.
BEIJING, Feb. 14 (Xinhuanet) -- The exchange rate against the US dollar is currently at an appropriate level but could fluctuate in the future, Yi Gang, vice-governor of the central bank and head of the State Administration of Foreign Exchange, said on Sunday."In the future, as markets fluctuate and labor productivity changes, the rate will certainly show some fluctuation," he said at a seminar. Last Thursday, the yuan's central parity rate rose to a record high of 6.5849 against the US dollar, after rising for three consecutive trading days, before declining to 6.5952 on Friday.The yuan has appreciated about 3.6 percent against the dollar since mid-June. A report from the US Treasury said earlier that on an inflation-adjusted basis, the appreciation was even higher, at an annual rate of more than 10 percent.US Federal Reserve Chairman Ben Bernanke said last Wednesday that China's recent measures to control inflation by raising interest rates is "surprising" and urged Beijing to let its currency rise in value.Currently the exchange rate is still underestimated by no more than 10 percent, said Lu Mai, secretary-general of the China Development Research Foundation (CDRF).The resilience of exporters to the rising yuan is stronger than previously estimated, which helps to pave the way for more currency reform to liberalize the yuan, he said.In 2007 and 2008, the Chinese currency rose by 7 percent annually against the US dollar, but China's GDP only declined by 0.28 percentage points, with inflation down by 0.42 points and workers' wages up by 0.07 points, according to CDRF research."The figures showed that progressive currency reform since July 2005 was successful, and the government should accelerate the reform and further free the yuan in the next five years to promote healthy, long-term economic development," Lu said.China should keep the proportion of its trade surplus to GDP within 5 percent, and avoid further increasing its huge foreign exchange reserves to allow the currency to settle at a balanced level, he said.China's foreign reserves rose to a record .85 trillion at the end of last year, an 18.7 percent increase year-on-year, according to statistics from the People's Bank of China, the central bank.Yi said he took note of the CDRF findings, but emphasized that further moves depended on both the domestic and international economic situation and appropriate timing.Lu Feng, an economist at Peking University, said now is the right time to deepen currency reform and let the yuan trade at a higher price as inflation is rising.Analysts have predicted that the yuan will appreciate this year as inflation may see the government opt for a rising yuan to lower the cost of purchasing international commodities.Lian Ping, chief economist at the Bank of Communications, predicted the yuan would rise by 5 to 7 percent in 2011.