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BEIJING, March 6 (Xinhua) -- A 17 percent year-on-year increase in China's broad money supply, and a target of 7.5 trillion yuan (1.1 billion U.S. dollars) for this year, indicated a relatively easy monetary policy, said Su Ning, deputy governor of the People's Bank of China, the country's central bank.Speaking on the sidelines of the ongoing annual session of the top legislature, the National People's Congress (NPC), Su said the 17 percent increase in the nation's broad money supply was larger than the combined increase of targeted GDP and CPI growth, which suggested an "easy" monetary policy."If M2 (the broad measure of money supply) growth is 2 to 3 percentage points higher than the combined growth of GDP and CPI, the monetary policy could be seen as easy," said Su.Chinese Premier Wen Jiabao said Friday, in the government work report submitted to the NPC, that China targeted an approximate 3 percent rise in consumer prices and 8 percent GDP growth this year.Su further believed the 17 percent increase in the broad money supply would be able to support the ongoing economic recovery throughout the country.China's financial institutions lent a record 9.6 trillion yuan in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy amid the global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.Su said the 7.5 trillion yuan in new lending this year should speed up completion of projects under construction, rather than support new projects.

BEIJING, Feb. 23 (Xinhua) -- A severe drought over the past months has left 7.5 million people and more than 4 million head of livestock without adequate drinking water in two southwestern Chinese provinces, local authorities said Tuesday.In addition, the long dry spell has threatened reservoirs and affected millions of hectares of crop land and forests in Yunnan and Guizhou Provinces, according to the local drought relief authorities.Yunnan has been experiencing the worst drought in six decades since last autumn due to lack of rainfall and high temperatures.  People of Dawen Village of Donglan Township load barrels of water by horses in Donglan County, southwest China's Guangxi Zhuang Autonomous Region, Feb. 23, 2010. A severe drought since August in 2009 has been continuing here at presentAlmost 6 million people and 3.6 million head of livestock are facing drinking water shortages in Yunnan."The drought would bring grave losses to industrial and agricultural production, and increase risks of forest fires," Qin Guangrong, governor of Yunnan, told a drought relief meeting Tuesday.If the drought continues, the number of people hit by drinking water shortages in Yunnan would rise to 7.92 million in March, 9.51 million in April and 10.14 million in May, he said.In addition, more crop land would be affected and grain production would be greatly reduced, he said.Authorities in the two provinces have allocated special funds, and dispatched relief personnel and water trucks to the drought-stricken areas.   Huang Naibi gets water at a water supplying site in Donglan County, southwest China's Guangxi Zhuang Autonomous Region, Feb. 23, 2010. A severe drought since August in 2009 has been continuing here at present

BEIJING, March 18 (Xinhua) -- China's government is set to order some central state-owned enterprises (SOEs) to quit real estate business as their land acquisitions are blamed for fuelling rise of urban housing prices, spokesman of the state assets watchdog Du Yuanquan said Thursday.The State-owned Assets Supervision and Administration Commission (SASAC) would require 78 centrally-administered SOEs, whose major business was not property development, to withdraw from the business, Du said in a SASAC press conference Thursday in Beijing.The SASAC gave no specific timetable for the withdrawal, but Du said it would require the 78 enterprises to step up business restructuring and gradually pull out of property development after all current real estate projects were finished.Housing prices in China's 70 large and medium-sized cities grew 10.7 percent in February from a year earlier, and were up 0.9 percent compared to the previous month, according to official figures.However, a total of 16 central SOEs, who have property development as major business, such as the China National Real Estate Development Group Corp. and the China Poly Group Corp., would continue in real estate, said Du.

BEIJING, Feb. 21 (Xinhua) -- China's Education Ministry on Sunday warned students considering studying overseas against Australian schools run by the GEOS group after more than 40 Chinese students were left stranded with the group's collapse.More than 2,300 students in GEOS group schools across Australia were affected after the college closures. The schools were scattered across Sydney, Melbourne, Brisbane, Perth and Cairns.GEOS is a Japanese company which owns hundreds of colleges around the world. The GEOS group has run out of money for its Australian colleges,according to Australian media reports.Chinese embassies and consulates in Australia are negotiating with local authorities to settle the issue to safeguard students' legitimate rights.The Education Ministry has drawn up a recommendation list of nearly 15,000 schools in 33 countries worldwide on its website. The recommended schools are relatively trustworthy and reliable.Australia has been a preferred destination for overseas education for Indian and Chinese students.The Australian Bureau of Statistics said the number of Chinese student enrollments was 146,000 by June 2009, up an average annual 16 percent over the past six years.

BERN, Switzerland, Jan. 26 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang met Swiss President Doris Leuthard here on Tuesday and both sides voiced their opposition against trade protectionism amid the ongoing global financial crisis.Li, who arrived in Switzerland on Monday for a four-day visit, said the creation of a free trade area between the two countries is under discussion and serves as a concrete action for both sides to combat trade protectionism."Both sides should push the feasibility study on a free trade area forward, and be well prepared to start negotiations in 2010," Li said.Chinese Vice Premier Li Keqiang(4th L) attends the joint press conference with President of the Swiss Confederation Doris Leuthard(4th R) in Bern, capital of Switzerland, on Jan. 26, 2010. Li Keqiang arrived in Zurich on Monday, kicking off his formal visit to SwitzerlandThe creation of the free trade area is of great significance to bilateral ties and will be conducive to further promotion of bilateral trade and investment cooperation, the Chinese leader said.He noted that the year 2010 marks the 60th anniversary of the establishment of diplomatic ties between the two countries, saying Switzerland was one of the earliest West European countries that recognized the People's Republic of China.Chinese Vice Premier Li Keqiang(R) shakes hands with President of the Swiss Confederation Doris Leuthard before their meeting in Bern, capital of Switzerland, on Jan. 26, 2010. Bilateral ties have been developing in an all-round way since the two sides established diplomatic relations 60 years ago, Li said.He said China attaches great importance to its ties with Switzerland and is ready to join hands with the European country to seek a long-term, healthy and stable development of bilateral ties."We should stick to the principle of sincerity, mutual trust and friendly consultation, and seek common ground while reserving differences, in order to cement the political basis of bilateral ties," Li said.For her part, Leuthard said Switzerland opposes any form of trade protectionism and expects more Chinese companies to invest in the country, as well as more cooperation between the two countries in such fields as technology and finance.Switzerland treats the Switzerland-China ties from a long-term perspective and highly values its cooperation with China, she said.She hoped that both sides could step up efforts on the feasibility study on a free trade area so as to draw a good result to open a new chapter of bilateral economic and trade ties.Leuthard said she will visit China this year and attend the 2010 Shanghai World Expo.The Swiss leader also reaffirmed that her country will firmly stick to the one-China policy.During his stay, Li will also address the annual meeting of the World Economic Forum (WEF) in Davos on Thursday and hold talks with WEF President Klaus Shwab.