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BEIJING, Jan. 27 (Xinhua) -- China's banking regulator asked lenders to keep credit growth at reasonable pace in 2010 and vowed to tighten supervision on property loans amid increasing risk of asset bubbles."Banks should reasonably control new loans, better manage the pace and try to achieve balanced issuance and steady growth of credit quarter by quarter, " Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC) at a meeting on Tuesday.Despite regulator's repeated warnings on risks hidden from the record 9.6 trillion yuan of new loans last year, banks rushed to lend more than 1 trillion yuan in the first month of this year in fear of the expected tighter loan policy in 2010 after the credit binge last year as media reported.An official with the Industrial and Commercial Bank of China told Xinhua the credit growth in the first ten days of January was a little bit fast, and turned smooth in the last days of the month.According to the statement posted on CBRC's Web site on Wednesday, Liu said the regulator will pay special attention to the changes in the property market, strictly enforce relevant policy, and beef up the "window guidance" over credit to the real estate sector.But he restated banks should continue to support first-time home buyers.Liu also told banks to continue lending to fund rural development, small business, consumer spending and environmental protection.He said banks should keep adequate capital and heed of resurgence of bad loans.

BEIJING, March 10 (Xinhua) -- The Chinese government will adopt stricter measures to boost energy conservation this year to meet the goal set by an important five-year plan, Xie Zhenhua, vice minister of the National Development and Reform Commission, said Wednesday."It's the last and decisive year for us to realize the goals set by our country's 11th Five-Year Plan," Xie said at a press conference on the sidelines of the annual session of the National People's Congress, China's top legislature."The current energy conservation situation lags far behind the goal set in our plan and our task is still formidable," said Xie, one of China's leading negotiators for climate change talks.Under the 11th Five-Year Plan ending this year, China pledged to cut energy consumption per unit of gross domestic product (GDP) by 20 percent, or four percent each year, but consumption fell by a margin much smaller than the set target during the past four years.The per unit GDP energy consumption fell only 14.38 percent from the 2005 level.Xie said the Chinese government will enact a series of measures this year to boost energy conservation, including the introduction of an accountability mechanism for provincial governments and tight control of projects of high energy consumption and high pollution.China announced in November it aimed to reduce the intensity of carbon dioxide emissions per unit of GDP in 2020 by 40 to 45 percent compared with 2005 levels.

BEIJING, Jan. 8 (Xinhua) -- The move by the United States of selling arms to Taiwan brings chilly air to the warming China-U.S. relationship as well as military exchanges.The U.S. government on Friday announced the plans to sell a package of arms to Taiwan, which include Patriot missiles, Black Hawk helicopters and minesweepers. China immediately expressed strong indignation about the sale after the U.S. government notified the U.S. Congress of the plans.China slammed the U.S. move, pointing out it has violated the three Sino-US joint communiques, especially the principles established in the Joint Communique on Aug. 17, 1982, which stated that the U.S. would not seek to carry out a long-term policy of arms sales to Taiwan, and intended to gradually reduce arms sale.According to a press release of the Foreign Ministry, China has decided to partially halt the exchange programs between the militaries of the two countries, as well as the vice-ministerial consultation on strategic security, arms control and anti-proliferation, which was originally scheduled to be held soon.The two militaries had been expected to launch more exchanges in 2010, which include U.S. Defense Secretary Robert Gates' visit to China and mutual visits of warships.Qian Lihua, director of the Defense Ministry's Foreign Affairs Office, on Saturday summoned the defense attache of the U.S. Embassy in Beijing to lodge a stern protest."We reserve the right of taking further actions," he noted.The U.S. move cast a shadow over the military ties between China and the Untied States, which have seen a warming trend since U.S. President Barack Obama took office.The two countries held the latest round of defense consultations in Beijing in June, which were suspended for 18 months after the then outgoing Bush administration announced a 6.5-billion-U.S.-dollar arms package for Taiwan.At the first U.S.-China Strategic and Economic Dialogue held in Washington D.C. in July, the two countries agreed to expand military exchanges at various levels.Vice Chairman of China's Central Military Commission (CMC) Xu Caihou visited the United States from Oct. 24 to Nov. 3, the first senior Chinese military leader to visit the country since Obama assumed the presidency.These hard-won rising military exchanges resulted from consensus reached by the two heads of state on a sound and healthy development of bilateral ties, but at the same time they require cautiously handling of the sensitive issues like arms sale to Taiwan, the first and foremost obstacle of military ties.When U.S. President Barack Obama visited Beijing in November, China and the United States issued a joint statement, pledging that the two countries would "take concrete steps" to advance "sustained and reliable" military-to-military relations."I am very pleased with the reduction of tensions and improvement of the cross-strait relations," said Obama during a dialogue with Chinese youth in Shanghai.However, the arms sale deal apparently runs counter to the commitments the U.S. side have made.As one of the most important bilateral relationships in the world, a sound China-U.S. relationship not only conforms to the fundamental interests of the two peoples, but is also conducive to peace, stability and prosperity in the Asia-Pacific region and the world at large.Now the U.S. side should take the responsibility for the halt of military exchanges between the two countries, which may subsequently deal a blow to bilateral ties.

WASHINGTON, March 18 (Xinhua) -- The efforts by U.S. legislators to pressure China to reform its currency is to make China a scapegoat of the U.S. domestic politics, and may actually hurt the U.S. economy, according to articles published by U.S. well known media in recent two days.The Wall Street Journal said Thursday that U.S. lawmakers "want to make the yuan a scapegoat and risk a trade war with China," referring to the U.S. Senators' bill proposed Tuesday to call for China to appreciate its currency yuan.Under the pressure of the election year and high unemployment, U.S. Senator Chuck Schumer and four other senators unveiled a legislation to threaten China for punitive duties on goods from China if it does not let yuan appreciate against the U.S. dollar.The China-made clothes are sold at a Marshalls store in New York, the United States, March 18, 2010. The Americans may find that the appreciation of China's RMB will increase their living cost, as many goods they have been consuming are made in China"China is right to resist these calls, not least because a large revaluation could damage China's growth," the Wall Street Journal said in its Review and Outlook column. "China has helped to lead the global economy out of this recession, and the world needs that to continue."

BEIJING, March 19 (Xinhua) -- Severe drought has affected 51 million Chinese and left more than 16 million people and 11 million livestock with drinking water shortages, China's State Commission of Disaster Relief said Friday.About 4.348 million hectares of farmland were affected and 940,200hectares would yield no harvest, the commission said in a statement.Since autumn last year, southwest China, including Yunnan, Sichuan and Guizhou provinces, Guangxi Zhuang Autonomous Region and Chongqing Municipality, has received only half its annual average rainfall and water stores are depleted. Photo taken on March 17, 2010 shows the thirsty fields of a terrace in Donglan County, southwest China's Guangxi Zhuang Autonomous Region. The drought in Donglan County, one of the drought-stricken areas in Guangxi, had affected 82,300 Mu (5486 hectares) of farmland by March 17 and 81,600 people were denied easy access to drinking water. The local government and people were mobilized to fight against the drought here.The commission said the ministries of finance, agriculture, civil affairs and water resources had appropriated more than 370 million yuan (54.4 million U.S. dollars) to the provinces, autonomous region and municipality to combat the drought.The funds are generally to be used to purchase drinking water, equipments and supplies for urgent water construction projects.More than 4,000 troops of Chinese People's Armed Police Force (PAPF) in Sichuan, Guizhou, Yunnan, Guangxi and Chongqing have been mobilized to help rural residents with water supplies.The PAPF detachment in Yuxi, Yunnan Province, has supplied more than 17 tonnes of its water reserve to 176 households in the province. In Sichuan, PAPF troops used their machinery to help pump underground water.In Guangxi, the PAPF troops transported water in trucks to 13 remote villages which were home to more than 7,000 farmers and 6,000 livestock.Weather forecasts show no obvious indications of rain in the drought region in the next 10 days.