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BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

BEIJING, May 26 (Xinhua) -- Companies from China and Finland signed twelve deals on clean technology with a total contract value of around 250 million U.S. dollars on Wednesday."The immediate value of all the contracts and agreements is about 200 million euros (about 245.76 million U.S. dollars), and their potential exceeds 1.5 billion euros (about 1.84 billion dollars)," Leif Fagernas, director general of the Confederation of Finnish Industries, said at the Cleantech Finland China Seminar in Beijing.Visiting Finnish President Tarja Halonen and Chinese Vice Premier Li Keqiang attended the seminar, and pledged to promote clean tech cooperation between the two countries.Chinese Vice Premier Li Keqiang (rear L2) and visiting Finnish President Tarja Halonen (rear L3) attend a signing ceremony after the opening ceremony of Cleantech Finland China Seminar in Beijing, capital of China, on May 26, 2010."As China is experiencing rapid industrialization and urbanization, we have to build a resource-saving and environmentally friendly society as soon as possible," Li said.He added that the promotion of clean development would help transform China's pattern of economic development.

BEIJING, May 7 (Xinhua) -- Senior Chinese leaders He Guoqiang and Zhou Yongkang on Friday urged the country's prosecutors to stick to just and incorrupt work practices.The fight against corruption is still very difficult and the campaign of building a clean-fingered Party and government should be firmly pushed forward, said He, member of the Political Bureau Standing Committee of the Communist Party of China (CPC) Central Committee and head of the Central Commission for Discipline Inspection of the CPC.   He Guoqiang (L Front), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the Central Commission for Discipline Inspection of the CPC, visits an exhibition showcasing the development of China's prosecution system, in Beijing, capital of China, May 7, 2010.He made the remarks when visiting an exhibition showcasing the development of China's prosecution system.

BEIJING, May 14 (Xinhua) -- Chinese Vice Premier Hui Liangyu has urged reconstruction authorities to protect the fragile ecosystem and improve living conditions during their work in the quake-hit Yushu Tibetan Autonomous Prefecture.Hui was speaking at a meeting held by the State Council on Friday in Beijing to evaluate a report on the reconstruction's impact on resources and the environment.A 7.1-magnitude earthquake jolted Yushu in the Himalayan northwest Qinghai Province on April 14, leaving at least 2,200 deaths.The State Council, or Cabinet, approved the report at the meeting and Hui said reconstruction planners should consider the impact of their projects on the ecosystem.The epicenter of the devastating quake was at the headwaters of three major rivers -- the Yangtze, the Yellow and the Lancang rivers -- that run through China and neighboring countries.The clearing of debris, selection of sites for new towns and development of other industries in the quake area should all prioritize environmental protection, and natural forests as well as vegetative cover should be protected and restored, Hui said.The government has pledged to finish reconstruction work within three years.

BEIJING, March 28 (Xinhua) -- China will step up efforts to crack major corruption cases, especially those with collusion between leading officials and business people, according to the full text of a speech delivered by Premier Wen Jiabao.The document was released on Sunday. Wen delivered the speech at a State Council meeting on this year's anti-corruption work on Tuesday.In the speech, Wen said efforts should be made to investigate those who trade power for money, and those who take advantage of power to do illegal things in areas including urban planning, approving construction programs, mineral resources exploration and bidding and tendering.Negligence and misconduct behind major work safety incidents and food safety scandals would also be probed.In the speech, Wen outlined key areas of the government's anti-corruption fight this year, including government funded projects, state-owned enterprises and financial institutions.He called for intensified efforts to trace the fugitives and their illicit money and property, and vowed "not to let those who commit corruption to go unpunished or get a penny out of their illicit gain."Government officials should strictly follow a code of ethics issued earlier this year by the Communist Party of China (CPC) to ensure clean practice in their work and to prevent corruptionThe guidelines specify 52 unacceptable practices, including officials accepting cash or financial instruments as gifts, or officials using their influence to benefit their spouses and children with regards to their employment, stock trading or business.And leaders of the State Council or central government departments should refrain from attending ceremonies or forums sponsored by companies, he added.Expenses on central government organs would be cut by 5 percent this year and government funded overseas trips, vehicle purchase, and reception expenditure should be reduced consequently, he said.