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BEIJING, July 28 (Xinhua) -- China will cut gasoline and diesel prices from Wednesday by 220 yuan (32.4 U.S. dollars) per ton, or by about 3 percent each, the National Development and Reform Commission (NDRC) announced Tuesday.     The retail price of gasoline will drop by about 0.16 yuan per liter, and that of diesel by about 0.19 yuan per liter, the commission said in a statement issued after a news briefing. A staff member works at a gas station in Hefei, capital of east China's Anhui Province, July 28, 2009The benchmark prices of gasoline would be reduced to 6,910 yuan per tonne, and that of diesel to 6,170 yuan per ton. The price cut was in response to recent falls in global crude prices, which had dropped to 63.97 U.S. dollars per barrel from 67.8 U.S. dollars on June 30, according to the statement.     Global crude prices, despite recent rebounds, experienced consecutive falls in the first half of this month, said the statement.     The NDRC is basing its adjustment of domestic fuel prices on three kinds of global crude prices, but the commission did not reveal the structure of the three prices.     On Monday, light, sweet crude for September delivery rose 33 cents to settle at 68.38 U.S. dollars a barrel on the New York Mercantile Exchange. London Brent for September delivery rose 50 cents to 70.82 dollars a barrel on the ICE Futures exchange.     It is the sixth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1.     The Chinese government has lowered retail fuel prices in December, before the new mechanism became effective, and again in January. It also raised prices once in March and twice last month.     Under the pricing mechanism, the NDRC would consider changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 20 days.     The two price rises last month were slight, said the statement, in an effort to quell doubts over frequent price hikes.     The country's latest fuel price hike on Jan. 30 sparked widespread debate as consumers grumbled that the record domestic prices were even higher than in the United States.     However, according to the NDRC statement, post-rise prices on June 30 translated into about 60 U.S. dollars per barrel, which was 7.8 U.S. dollars lower than the international price that day.     On June 1, post-rise prices were equal to about 50 U.S. dollars a barrel, 7.6 U.S. dollars lower than the global crude price.     The NDRC raised pump prices of gasoline and diesel by 400 yuan per ton, or 7 percent and 8 percent, respectively, from June 1, and again by 600 yuan per tonne, or 9 and 10 percent, respectively, from June 30.     Such controlled rises were meant to ease the burden of downstream industries so as to help fuel a recovery in the economy, and also to cushion the negative effect of irrational rises in global crude prices, such as raises in investment of speculative capital, according to the statement.     The commission would continue to adjust domestic fuel prices "at an appropriate time", and take into account of changes in global crude prices, domestic economic situation, and demand and supply on the domestic market, said the statement. 

BEIJING, Oct. 9 (Xinhua) -- China's railways carried 60.75 million passengers nationwide around the seven days of National Day holidays and one day of Mid-Autumn Festival, the Ministry of Railways said on Friday.     The figure was 2.18 million more or 3.7 percent up from the same period last year, according to the ministry.     The peak transport season lasted for eleven days from Sept. 28 to Oct. 8. Passengers queue to receive security check at the subway station entrance of Beijing Railway Station in Beijing, capital of China, Oct. 7, 2009. As the National Day holidays are about to end, the railway transportation witnessed a travel peak all over the nation. China's railways carried a record high of 6.93 million people nationwide on Oct. 1, the National Day. The previous record was set on Oct. 5 in 2008 when China's railways carried 6.48 million passengers.     This year, China's National Day holidays and the Mid-Autumn Festival, a key festival in China for family re-union, overlapped. More people working far away from home chose to go back for family re-union in the eight-day holidays.

BEIJING, Oct. 11 (Xinhua) -- Chinese State Councilor Liu Yandong Sunday stressed the importance of nurturing more first-class financial personnel for the nation.     Liu made the remarks when visiting the Beijing-based Central University of Finance and Economics (CUFE) to convey congratulations on its 60th founding anniversary.     CUFE is the first university specialized in financial and economic studies established by the People's Republic of China. It is one of the 100 universities to which the Chinese government attaches top priority in the 21st Century.     Noting that finance is an important state function, and the core of modern economy, Liu expected the university to play a better role in cultivating innovation-oriented financial talents.     She also called on the university to contribute more to the national and local development programs.

BEIJING, Sep. 10 (Xinhua) -- Chinese President Hu Jintao put forward four proposals for improving ties with Central Africa when meeting with his counterpart Francois Bozize Yangouvonda Thursday.     "China attaches great importance to the friendship with Central Africa, and we are willing to work with Central Africa to create a new era for our bilateral ties." Hu stressed.     Hu made four proposals for the enhancement of bilateral ties during the meeting.     First, Hu said, the two countries should cement the political foundation of bilateral ties and strengthen communication and coordination on major issues and important affairs. Chinese President Hu Jintao (3rd L) meets with President of Central Africa Francois Bozize Yangouvonda (3rd R) at the Great Hall of the People in Beijing, capital of China, on Sept. 10, 2009In his second proposal, Hu urged the two sides to expand economic and trade cooperation. China is willing to strengthen economic, trade and technical cooperation with Central Africa to benefit both sides and develop jointly, Hu said.     Hu stressed personnel and cultural exchanges and cooperation in his third proposal, urging the two countries to make favorable efforts and build platforms for expanding cultural, educational, sanitary, media and non-governmental exchanges, so as to deepen mutual understanding and develop friendship.     He at last proposed the two countries strengthen coordination in multilateral affairs. China is ready to maintain consultation and coordination with Central Africa under the framework of the United Nations and the Forum on China-Africa Cooperation on global issues, so as to jointly safeguard the developing countries' interests, Hu said.     "China and Central Africa are friends as well as friendly and cooperative partners," Hu said, adding that it has been the Chinese government's persistent policy to develop long-term, stable, friendly and cooperative relations with Central Africa on the basis of sincerity, equality and mutual benefit.     Bozize, who arrived here Wednesday for a week-long state visit to China, said he fully agrees with Hu's notion.     Bozize will also visit southwest China's Yunnan Province and southern Guangdong Province

BEIJING, Aug. 2 (Xinhua) -- China's consumer price index (CPI) decline pace would slow down in the second half and the CPI would drop about 0.5 percent for the whole year, Lian Ping, chief economist of Bank of Communications, the country's fifth largest lender, told Xinhua Sunday. China's CPI, a main gauge of inflation, dipped 1.1 percent in the first half from a year earlier, according to the National Bureau of Statistics (NBS) figures. This graphics made on August 1 shows prices of edible oil drop while those of meat and eggs increase compared with those on July 1 in China. China's consumer price index (CPI) decline pace would slow down in the second half and the CPI would drop about 0.5 percent for the whole year, Lian Ping, chief economist of Bank of Communications, the country's fifth largest lender, told Xinhua Sunday    "China might see a CPI rise in the fourth quarter along with the recovery of the economy," Lian said.     He predicted that China would see a moderate CPI rise next year, with the growth pace less than 4 percent.     The Shanghai-based bank said in a Saturday report that China's economy would continue to recover from the world financial crisis in the second half and expand at the rate of 8.5 percent for the whole year.

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