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BEIJING, June 29 (Xinhua) -- China's top political advisory body Tuesday started a new seminar to improve the capabilities of 296 national political advisors in advising the government work.During the four-day seminar, the participants, who were from 34 walks of life, will attend lectures and hold panel discussions focusing such topics as how to persisting in and improving the system of multi-party cooperation and political consultation under the leadership of the Communist Party of China, as well as the basic requirements for advisors to better perform their duties.Jia Qinglin, Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the top advisory body in China, met with the participants at the opening ceremony of the seminar.The seminar is the fifth of the kind ever organized by the 11th CPPCC National Committee. Altogether 1,342 CPPCC members have attended the seminars.

BEIJING, June 29 (Xinhua) -- The quake zone of Yushu in northwest China has received donations valued at over 8.5 billion yuan (about 1.25 billion U.S. dollars) as of Monday, with about 90 percent being in cash and the remaining in relief materials, said the civil affairs ministry.The ministry said in a statement that it received 2.407 billion yuan while the Qinghai provincial government of the quake zone received nearly 2 billion yuan in donations, with the Red Cross Society of China and the China Charity Federation each raising about 2 billion yuan.About ten percent of the total donations had been allocated to quake relief work along with reconstruction and restoration, the statement said.Yushu was hit by a 7.1-magnitude quake on April 14, with more than 2,200 people being killed and thousands of homes flattened.Vice Premier Hui Liangyu said on June 20 that the government would soon implement a reconstruction plan for the area, which sets a goal to accomplish major reconstruction tasks within three years.

BEIJING,Aug 17(Xinhuanet) -- China reduced its holdings of U.S. Treasury debt for a second straight month in June while the holdings of Japan and Britain rose.China's holdings fell by billion to 3.7 billion, a decline of 2.7 percent, the Treasury Department said Monday in a monthly report on debt holdings.Total foreign holdings of Treasury securities rose .6 billion to a total of trillion, an increase of 1.2 percent.The debt figures are being closely watched at a time when the US government is running up record annual deficits. A drop in foreign demand would lead to higher interest rates in the United States. The yield on Treasuries rises when fewer people invest in them.It would start with the US government paying more interest on its .3 trillion national debt and then ripple through the economy. Consumer loans such as home mortgages and auto loans track the yields on Treasurys, so they could rise, too.So far, interest rates in the United States have remained extremely low. A weak economy has depressed borrowing by the private sector and the Federal Reserve has kept a key interest rate at a record low level of zero to 0.25 percent in an effort to spur stronger growth.US interest rates have also been kept low by the European debt crisis in the spring. That triggered more investment in US Treasurys, which are considered the safest investment in the world because the US government has never defaulted on its obligations.China is the largest foreign holder of Treasury securities. The billion decline in China's holdings in June followed a .5 billion drop in May. China's holdings had hit a high for this year of 0.2 billion in April.There are concerns that China could influence US interest rates by rapidly selling off its holdings of US debt. That could lead others to dump their holdings and result in a spike in interest rates.But analysts say China is more likely to sell a little bit at a time."While it would hurt the United States if China started selling off our securities, it would hurt China just as badly because it would drive down the value of their holdings," said David Wyss, chief economist at Standard & Poor's in New York.Wyss predicted that China will slow its acquisition of new US government debt while diversifying its holdings. Wyss said that process has already begun, noting China's recent acquisition of energy and other natural resource holdings in Latin America and Africa.Japan, the second largest foreign owner of Treasury bonds, increased its holdings in June to 3.6 billion. That's an increase of .9 billion or 2.5 percent. Britain's holdings rose 3.5 percent to 2.2 billion.Japan had for years been the No 1 holder of Treasury securities, but was overtaken by China in September 2008.New government data showed that Japan lost its place as the world's second largest economy in the second quarter of this year. China moved up from No 3 to the No 2 spot, behind the United States.While the data on total economic output was for the second quarter, analysts believe China is on track to surpass Japan for the entire year and become the world's second largest economy.The US Treasury report said that net purchases of long-term securities, a category that covers not only US government debt but also debt of US companies, increased by .4 billion in June after rising .3 billion in May.

PARIS, June 22 (Xinhua) -- The Paris-based Organization of Economic Cooperation and Development (OECD) on Tuesday welcomed China's announcement of increasing the exchange rate flexibility of its currency yuan.The move was helpful not only to China's sustainable growth but also the world economy, OECD Secretary-General Angel Gurria said."A combination of sustained fiscal expansion, continued structural reform and exchange rate flexibility, should provide a strong contribution from China to the achievement of a strong, sustained, and balanced growth of the world economy," Gurria said in a statement.Richard Herd, an economist heading the OECD's China and Asia Unit, said it was impossible to achieve yuan appreciation over one night."The policy is not a political gesture; the policy is a sound economics-based effort," Herd said in an interview with Xinhua, rebutting reports interpreting the statement as just lip service.China's central bank announced over the weekend it would push forward reform of the yuan exchange rate and ruled out a one-off revaluation.

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