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BEIJING - China's currency, the yuan, hit a new high against the US dollar on Thursday, following an overnight key interest rate cut in the United States.The yuan, also known as the renminbi, went up 145 basis points from the previous day to a central parity rate of 7.1853 yuan to one dollar, breaking the 7.19 mark.The Federal Reserve on Wednesday cut US interest rates by a bold half-percentage point as part of its efforts to shore up economic growth.The move came just eight days after the US central bank slashed rates by three quarters of a percentage point, leading the dollar to weaken against other major world currencies.The Chinese currency had appreciated against the greenback by about 12 percent since a new currency regime was imposed in July 2005 to revalue and de-peg it from the dollar.It had climbed 6.9 percent against the dollar in the past year, but some US critics say it remains undervalued, giving Chinese exporters an unfair advantage and resulting in the massive trade imbalance between the two countries.China was not against revaluation of the yuan, but opposed "excessively rapid" appreciation that was inappropriate to its national conditions, Commerce Minister Chen Deming said last month.Premier Wen Jiabao also said China would improve the yuan's exchange rate mechanism in a controllable and gradual manner, let the market play a bigger role in the mechanism and enhance the currency's flexibility.
BEIJING -- Thirty-one provinces, autonomous regions and municipalities on the Chinese mainland had reshuffled local Party committees through internal elections for Party officials within a year ending last June.Moreover, 408 cities, 2,763 counties and 34,976 townships have elected new Party committee leadership from early 2006 to April this year, the Organization Department of the CPC Central Committee said here Thursday.This has made good preparation for the upcoming 17th CPC National Congress.The positions in the new Party committees at the provincial, regional and municipal levels were reduced by 21 compared with previous ones. The positions were cut by 149 at the city level, by 859 at the county level, and by 34,368 at the township level.Meanwhile, the local Party leaders are younger and well educated, particularly at the provincial level. The age of leaders in CPC provincial committees average 52.9 years old, half a year younger than their predecessors, and 91.6 percent of them received college education, 14 percentage points higher than before.The CPC Central Committee has taken a series of measures to make the election in local Party leadership fair and clean, the department said.In 296 townships of 16 provincial-level regions across China, leaders of Party committees were directly voted by CPC members as pilot projects.The ratio between the candidates and the elected officials reached 100:89 in the election at the provincial level and 100:88 to 100:85 at the county-level.The candidates also received strict scrutiny from the Party discipline departments to ensure they are clean from corruption or scandals.A hot line was set to receive tip-off about malpractice and corrupt candidates during the local Party leadership reshuffle.Thus far, 260 officials have been punished for malpractice.

WASHINGTON - Senior officials from the United States and China are scheduled to hold a twice-yearly dialogue in Washington this week on bilateral and multilateral issues, AFP reported Monday, citing a statement by the US State Department. US deputy secretary of state John Negroponte and China's Executive Vice Foreign Minister Dai Bingguo will lead their teams to the two-day US-China "senior dialogue" beginning Wednesday, said the statement. The dialogue is expected to cover the countries' bilateral relations as well as a range of key global issues, including security in Northeast Asia, energy and the environment, Iran and the conflict in Sudan's Darfur. The dialogue "is an important forum for both countries to discuss issues of strategic and political importance, including how to achieve our common goals," according to the statement. US President George W. Bush and Chinese President Hu Jintao agreed in 2004 during a summit of the Asia Pacific Economic Cooperation ( APEC) forum to hold the talks among their officials as part of efforts to improve ties. US-China ties are clouded by a variety of issues, including US accusations that China is keeping its currency undervalued. Currency concerns dominated a US-China "strategic" economic dialogue last month led by Chinese Vice Premier Wu Yi and US Treasury Secretary Henry Paulson even as unveiled measures to boost trade and investment ties.Despite criticism from the US in particular, Chinese officials contend that currency reforms are moving as quickly as the developing economy and financial system will allow.
BEIJING -- China's education authority has revoked the license of a private school that took in problem teenagers and claimed to offer strict discipline after it was found abusing students.A Ministry of Education investigation confirmed that staff at Dadongfang Xingzou School, in Southwest China's Chongqing Municipality, had physically and verbally abused teenage students, said ministry spokesman Wang Xuming at a press conference.The Beijing Times reported in June that a 14-year-old Beijing boy took drugs and jumped from the second floor of a dormitory building in the school after being repeatedly beaten by teachers.The boy said he tried to commit suicide so that his parents could learn what happened to him as he was denied contact with them for the first three months in the school, according to the newspaper story.Some desperate Chinese parents send their children, who do not behave well in normal schools, to boarding schools called "xingzou" schools that offer paramilitary-style discipline."Although schools like the Dadongfang Xingzou School take in problem students, they must follow laws and regulations like other schools. But some of them have done things wrong and many have no proper government approval," Wang said.Investigators found the school had been granted a license as a juvenile training center, but was not qualified as a boarding school or to offer paramilitary education.The ministry had started a national survey of xingzou schools, focusing on illegal education methods and teacher qualifications, and those without proper licenses would be closed, Wang said.As the administration was still working on a regulation on non-school juvenile training centers, it would suspend processing any such applications, he said.According to the Beijing Times, the Dadongfang Xingzou School had hired former military personnel and prison wardens as discipline teachers.
All provincial and municipal authorities must act on findings of investigations of serious workplace accidents occurred since 2005, the State Council's work safety committee office ordered Monday.A check on the local investigations and whether the parties responsible were accordingly dealt with "must be instantly organized" and reported to the office by work safety departments before January 15, said the document, released on the State Administration of Work Safety (SAWS) website at www.chinasafety.gov.cn.Such reports should include the latest updates on every investigation, whether each case was closed within a reasonable time, and reports on the financial, Party, administrative as well as legal punishments of all the parties involved, the document stated.These will act as a direct response to the tardy progress seen in the investigations of accidents in some areas, the document stated.Nepotism at the local government level has hindered bringing "people responsible for workplace accidents to justice", SAWS director Li Yizhong had earlier said.For example, five people found responsible for a coal mine blast that killed 171 in Heilongjiang Province in November 2005 were jailed only last Saturday. The men were reportedly detained by local police in December 2005 but were released on bail nine months later.The five were arrested again last month, after Li visited the site of the accident and learnt of the case's progress.A notorious and unauthorized coal mine in Chenzhou, Hunan Province, has been making the headlines for its harsh treatment of workers and attempts to cover up accidents. But the mine's chief, Huang Shengfu, reportedly managed to stay in the clear and bought himself out of any legal liability, reported the Oriental Outlook magazine.Eight respective probes into the mine by the central and provincial disciplinary committees as of last month all returned no clear results, the document stated.SAWS said on Sunday that there were about 457,000 workplace accidents reported from January to November this year, representing a decrease of 22.4 percent year-on-year. The number of accident deaths also dropped to 88,923, a year-on-year decrease of 14 percent.During the past 11 months, a total of 83 serious accidents, each of which 10 or more people were killed, claimed a total of 1,380 lives, SAWS reported.
来源:资阳报