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BEIJING, Dec. 26 (Xinhua) -- The Standing Committee of the National People's Congress (NPC), China's top legislature, began here Monday to deliberate draft interpretations on two annexes of the Basic Law of the Macao concerning election issues.Li Fei, deputy director of the Commission of Legislative Affairs of the NPC Standing Committee, explained the draft interpretations to lawmakers.The Basic Law of the Macao Special Administrative Region (Macao SAR) was adopted in 1993 and went into effect on Dec. 20, 1999.Annex I to the Basic Law provides a method for selecting the SAR's chief executives while Annex II sets the method for the formation of its legislative assembly.Clause 7 of Annex I of the Basic Law says that if there is a need to amend the method for selecting the Chief Executives for 2009, and the terms subsequent to the year 2009, such amendments must be made with endorsement of a two-thirds majority of all the members of the Legislative Council and the consent of the Chief Executive, and they shall be reported to the Standing Committee of the National People's Congress for approval.Clause 3 of Annex II says that if there is a need to amend the method of forming the Legislative Assembly of the Macao Special Administrative Region in and after 2009, such amendments must be made with the endorsement of a two-thirds majority of all the members of the Assembly and the consent of the Chief Executive, and they shall be reported to the Standing Committee of the National People's Congress for the record.Li said that the phase "if there is a need to amend ..." should mean that they may or may not be amended.The decision-making on whether such necessity exists is reserved to the central authorities, or the NPC standing committee, said Li, adding that the Macao SAR government, rather than members of the Legislative Assembly, individually or jointly, should be the proper entity to propose any such amendments.Li also explained that if no amendment to the methods is adopted, the two Annexes should still apply.The full text of draft has not been made public yet, but the points raised by Li are identical to those in the committee's prior interpretations on Hong Kong SAR's Basic Law in 2004.During the deliberation, members of the committee noted that draft would help to safeguard Macao's long-term prosperity and stability.They also believed that it was "proper and necessary" to adopt the draft during this week's session as Macao's chief executive Fernando Chui Sai On had made the issue of modifying the method a "major work" in his policy address for the fiscal year 2012.Chui's statement recognized that "there is agreement that it is appropriate to properly modify the two methods in order to adapt to society's development and progress" and promised to "submit a proposal on whether to modify and - if so - how to modify the methods."Macao expects the formation of its fifth Legislative Assembly in 2013, and the selection of its fourth Chief Executive in 2014.
BEIJING, Dec. 12 (Xinhua) -- A Foreign Ministry spokesman said on Monday that China welcomes the EU's new measures for coping with the European sovereign debt crisis worked out at the recently-concluded EU summit."We hope relevant measures can help stabilize the market, boost confidence in the market, stop the crisis from worsening, promote employment and economic growth, and push forward European integration," Foreign Ministry Spokesman Liu Weimin said at a routine press briefing.Last Friday at the summit in Brussels, EU leaders agreed on establishing a new "fiscal compact" based on inter-governmental treaties rather than the expected EU treaty changes. Britain opted out of the compact.Under the fiscal compact, member states will have to submit their draft budgetary plans to the European Commission, the EU's executive arm.As world's largest economy, the stable and healthy growth of the European Union and the Eurozone will be crucial to maintaining the momentum of recovery in the world economy, Liu said.China will maintain its support for EU integration, and continue to back the EU's efforts in combating the debt crisis in various ways, so as to jointly promote the stability of the international financial market and the recovery and growth of the world economy, he said."We are confident in Europe and the Eurozone, and believe that the EU has the ability and wisdom to resolve the sovereign debt crisis," Liu said.
BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified Foreign Institutional Investors (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.The move is expected to widen the investment channel of overseas RMB funds and add new momentum to the country's bid to make the RMB an international currency.Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the rules jointly released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity funds should account for no more than 20 percent.The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.It will also help diversify investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.The RMB is not fully convertible under the capital account but China has stepped up efforts to make the currency more international over the past few years.The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.
WASHINGTON, Dec. 21 (Xinhua) -- New research suggests that, in people who don't currently have memory problems, those with smaller regions of the brain's cortex may be more likely to develop symptoms consistent with very early Alzheimer's disease.The study was published Wednesday in the online issue of Neurology, the medical journal of the American Academy of Neurology.For the study, researchers used brain scans to measure the thickness of regions of the brain's cortex in 159 people free of dementia with an average age of 76. The brain regions were chosen based on prior studies showing that they shrink in patients with Alzheimer's dementia.Of the 159 people, 19 were classified as at high risk for having early Alzheimer's disease due to smaller size of particular regions known to be vulnerable to Alzheimer's in the brain's cortex, 116 were classified as average risk and 24 as low risk. At the beginning of the study, participants were also given tests that measured memory, problem solving and ability to plan and pay attention. The tests will go on over the next three yearsThe study found that 21 percent of those at high risk experienced cognitive decline during three years of follow-up after the MRI scan, compared to seven percent of those at average risk and none of those at low risk."Further research is needed on how using MRI scans to measure the size of different brain regions in combination with other tests may help identify people at the greatest risk of developing early Alzheimer's as early as possible," said study author Bradford Dickerson, of Massachusetts General Hospital in Boston and a member of the American Academy of Neurology.