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BEIJING, Sept. 10 (Xinhua) -- Property prices in 70 major cities rose 9.3 percent in August year on year but were unchanged on a month-on-month basis from July, China's National Bureau of Statistics (NBS) said Friday.The year-on-year growth rate was one percentage point lower than the year-on-year growth rate in July, a statement on the NBS website said Friday.The year-on-year growth rate was the slowest in the past eight months this year.On a year-on-year basis, China's home prices rose 7.8 percent in December 2009, 9.8 percent in January 2010, 10.7 percent in February, 11.7 percent in March, 12.8 in April, 12.4 percent in May, 11.4 percent in June and 10.3 percent in JulyNew home prices rose 11.7 percent year on year in August, down 1.2 percentage points from July. New home prices in August were unchanged from July, too.Prices of second-hand homes rose 6.2 percent year on year in August, down 0.5 percentage points from July. Prices of second-hand homes in August increased on a month-on-month basis, up 0.1 percent from July.The Chinese government took measures in April to cool soaring home prices, including curbing lending to developers, limiting loans for third-home purchases and requiring higher down-payments for second-home purchases.

MANILA, Sept. 17 (Xinhua) -- The Philippine government will provide the Chinese government a copy of the final report on the Aug. 23 hostage-taking incident before it divulges the findings to the public, the presidential palace said on Friday night.Secretary Ricky Carandang of the Presidential Communications Development and Strategic Planning Office made the statement after President Aquino met with the Incident Investigation and Review Committee (IIRC) led by Justice Secretary Leila de Lima, following the submission of the final report on the incident that killed eight Hong Kong nationals."We have to communicate this to Beijing first before we make it public," Carandang said, adding that the presidential palace only "wants to be careful" in handling the sensitive matter.He said that the high-level Philippine delegation will still go to Beijing and Hong Kong to formally present the report to their leaders but this will have to be done after the President's working visit to the United States.The President and his delegation to the United States will depart on Monday night and will return on Sept. 28.

BEIJING, Sept. 14 (Xinhua) -- Top Chinese legislator, Wu Bangguo, has urged government departments to take effective measures to solve shortages of drinking water and improve the living standards for residents in an impoverished northwestern area of the country."It is a long-term strategic task and an urgent livelihood project to improve the environment and basic living standards in the impoverished areas in Ningxia," said Wu Bangguo during an inspection in northwest China's Ningxia Hui Autonomous Region.Wu, Chairman of the Standing Committee of the National People's Congress (NPC) Standing Committee, urged officials to solve the region's drinking water problem in about three years and accelerate the evacuation of local residents to places with better environment.Wu Bangguo (2nd L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, inspects a paper manufacture enterprise of northwest China's Ningxia Hui Autonomous Region, Sept. 11, 2010. Wu made an inspection tour in Ningxia from Sept. 10 to 14With an inhospitable natural environment coupled with a severe ongoing drought, the central and southern regions of Ningxia are one of the key impoverished areas for the country to support.Wu visited a mountainous village called Haigou, where the average annual income per capita is only about 2,700 yuan (400 U.S. dollars).Some 251 villagers of the Hui ethnic group are living in the village, and they have been suffering shortages of drinking water due to water and soil losses.

TIANJIN, Sept. 13 (Xinhua) -- Chinese Premier Wen Jiabao on Monday stressed the importance of scientific innovation in the process of shifting from "made in China" to "created in China".Wen met with entrepreneurs and answered their questions on the sidelines of the World Economic Forum (WEF) Annual Meeting of the New Champions 2010, or the Summer Davos, being held in north China's port city of Tianjin.Wen said transforming the economic growth mode through developing Chinese creation and service was a key issue if the Chinese economy was to keep a balanced, coordinated and sustainable growth.Chinese Premier Wen Jiabao speaks at the symposium to entrepreneurs attending the fourth Summer Davos forum, or the Annual Meeting of the New Champions 2010, in north China's Tianjin Municipality, Sept. 13, 2010. The premier said China would make great efforts to develop science and education, transform traditional industries through high-tech and give priority to the development of emerging industries such as energy saving, environmental protection, information and advanced manufacturing.PEOPLE'S LIVELIHOODHe said the country would seriously tackle the problem of social equality and justice through measures of tax reforms and income distribution.People should clearly realize that China is still a developing nation, he said, stressing that it was fully necessary to increase investment in sectors of food and construction, which would help improve people's lives in future.Wen also asked people to realize that Chinese people's livelihood had been improved step by step.Statistics showed that Chinese people's wage income grew 11.2 percent from 2007 to 2009, two percentage points higher than the GDP growth of that period.Wen noted that in China, labor costs are largely low, and they need a reasonable rise. But for most of the Chinese employees, the top priority is to find a job, while wage level is the second major concern.Therefore, the rise in wage should be kept at a reasonable level, so as to maintain the competitiveness of our industries, Wen said."Besides, we should understand that the rise in wage should be in line with the advance of labor productivity," he said.

BEIJING, Nov. 3 (Xinhua) -- China's banking regulator on Tuesday said the banking industry, pillar of the nation's financial system, has an important role to play in transforming the country's economic growth pattern as it highlighted four areas in boosting the process.Jiang Dingzhi, vice chairman of the China Banking Regulatory Commission, on Tuesday urged more efforts be made by the nation's banking sector in expanding consumption-related loans amid the government calling to boost domestic consumption.More channels should be opened to meet the varied consumption needs from residents as financial support should lean on the construction of affordable housing. Loans to property developers who make small and medium-sized homes at medium and low prices should be met, but be restricted to them for speculative purposes, Jiang said.Also, the structure of bank credit should be further optimized in line with the restructuring of the nation's economy, Jiang said at an industrial forum held here Tuesday.This could mean polluting and energy-intensive companies may face more difficulties in obtaining loans from banks.Meanwhile, Jiang urged banks to improve their financial services in the rural areas in China as part of the coordinated development between the rural and urban areas.Further, Jiang said banks should work to improve the availability of financial support for small-sized companies and low-income residents.Jiang said total outstanding bank loans to small-sized companies stood at 7.1 trillion yuan (1.1 trillion U.S. dollars) by the end of September, an increase of 22.3 percent, or 1.3 trillion yuan, compared to the beginning of the year.The growth rate was higher than the average 14.5 percent increase of new loans for all companies during the period, Jiang said.