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BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

NANJING, Dec. 13 (Xinhua) -- About 5,000 Chinese and foreigners gathered Monday in Nanjing, capital of east China's Jiangsu Province, to mourn hundreds of thousands of people who were killed by invading Japanese troops 73 years ago.Participants in the ceremony stood in silent tribute, offered wreaths and bowed in front of the Memorial Hall of the Victims in the Nanjing Massacre, with sirens wailing in the drizzling morning on Monday, the 73rd anniversary of the massive slaughter."The Japanese soldiers invaded Nanjing when I was four, and they killed some of my family members. On the anniversary of the massacre every year I would come here to express my grief," said Sun Xuelan, a 77-year-old survivor, who is confined to a wheelchair.Japanese troops occupied Nanjing on Dec. 13, 1937 and began a six-week massacre. Records show more than 300,000 people -- not only disarmed soldiers , but also civilians -- were killed.Mikhalchev Mikhail, deputy director of the Central Museum of the Great Patriotic War in Russia, said, "In the history of human civilization, some facts shouldn't be forgotten, and the Nanjing Massacre was one of them."He noted that the tragedy had become a symbol of the Chinese people's bitter suffering and prompted all people to learn the preciousness of peace.""We should remember the history, but not hatred. Peace is a common desire of all human beings," said Nanjing citizen Yu Hong , who attended the ceremony.Besides the memorial ceremony, Buddhist monks from China and Japan held a religious service Monday at the Memorial Hall of the Victims of the Nanjing Massacre.The assembly was attended by 15 monks from six Buddhist temples in Japan, more than 50 monks and Buddhist believers from China and thirty Massacre survivors and relatives of victims.The monks chanted Buddhist prayers of mourning and prayed for peace.Aori Take Shuna, abbot of Japan's Reiunti Temple, read a poem he wrote to honor the dead and prayed for long-term friendship between the peoples of China and Japan.Yamauchi Sayoko, who was a representative of a sect of Japanese Buddhism, said that the people of Japan, which invaded and occupied China in the 1930s and 1940s, were deeply regretful for the victims of the war and sincerely hoped such a tragedy would never be repeated.Built in 1985, the memorial hall annually records five million visitors since it was expanded and renovated in 2007.Zhu Chengshan, curator of the hall, said that every year when the anniversary of the Nanjing Massacre occurs , nearly 10,000 Nanjing citizens would swarm the hall and spontaneously mourn the victims.On Sunday, workers began to extend a memorial wall at the memorial hall on which names of those killed are engraved.After the extension, the wall would have 10,324 names, 1,724 more than three years ago, Zhu said.Collecting the names of the victims was an important job in researching the Massacre, but it was difficult to find witnesses and documents decades later, he said.Moreover, a group of historians from China, Japan and the United States has begun compiling an encyclopedia on the Nanjing Massacre, which was expected to embody a wide range of historical documents and pictures. "The dictionary may serve as a consolation to the deceased," Zhu said.

MADRID, Jan. 5 (Xinhua) -- Chinese Vice Premier Li Keqiang and Spanish Prime Minister Jose Luis Rodriguez Zapatero Wednesday pledged continuous joint efforts to promote the cooperation between China and Spain, and between China and Europe as a whole.During their meeting, Li said China sees Spain as a reliable friend in Europe, and firmly backs Spain's efforts in countering the international financial crisis, as well as a series of economic and financial adjustment measures the Spanish government has adopted.With its own efforts and the support from the international community, Spain will surely overcome the difficulties, achieve financial stability and economic growth, Li said.Chinese Vice Premier Li Keqiang (R) meets with Spanish Prime Minister Jose Luis Rodriguez Zapatero in Madrid, Spain, January 5, 2011.Stressing the importance of boosting international pragmatic cooperation in eliminating the deep-seated impacts of the financial crisis, Li urged China and Spain to carry out cooperation in such areas as technology and capital, and achieve new progress in trade and economic development.Spanish enterprises are welcome to bring their competitive products to China, he said.Both sides can expand cooperation in new aspects such as energy conservation and environmental protection, new energy and new materials, Li said, adding that enterprises on both sides are encouraged to jointly explore the third-party markets to bring mutual benefits and achieve an all-win result.Li said he is confident that new progress can be made in the all-round cooperation between China and Spain as long as both sides make efforts in concert and fulfill their agreed deals.Zapatero, on his part, stressed the priority of Spain's relations with China in his country's foreign policy. He also called the ties the most successful cooperative relations.Spain advocates globalization and multilateralism, and the building of a new, fair and balanced multilateral order, Zapatero said, adding that China should play an important role in this order.

BEIJING, Nov. 28 (Xinhua) -- The Chinese mainland will continue working with Taiwan to expand and deepen cross-Strait exchanges and cooperation, a spokeswoman for the Taiwan Affairs Office of the State Council said Sunday.Commenting on mayoral elections in the island's five cities, which concluded Saturday, spokeswoman Fan Liqing said the mainland had "paid close attention" to the results.The mainland would steadily promote cross-Strait relations and improve the living standards of people on both sides, she said."We hope Taiwan society is stable and people live and work in peace," she said.Fan said that over the past two years, improved cross-Strait relations had brought tangible benefits to people on both sides, and the peaceful development of relations had become common ground.Of the five mayoral elections, the ruling Kuomintang won three while the opposition Democratic Progressive Party won two.

ROME, Nov. 8 (Xinhua) -- Italy and China launched on Monday a strategic "innovation alliance" aimed at boosting technological exchange and joint research in crucial sectors including health, energy and "e-government."The Italy-China Innovation Forum, which stood as the first major event for the one-year celebrations of the Chinese Culture Year in Italy marking the 40th anniversary of diplomatic ties between the two countries, was a great opportunity to foster contacts between Chinese and Italian entrepreneurs and pave way for a strengthened bilateral cooperation.The key message of the forum was the need both China and Italy shared to cooperate in innovation and technology, stretching from health to "e-government," renewable energy and energy efficiency, high-quality design and information and communication technology ( ICT). Chinese Minister of Science and Technology Wan Gang addresses the opening ceremony of China-Italy Innovation Forum in Rome, Italy, Nov. 8, 2010.Organizers of the meeting were Italian Innovation Minister Renato Brunetta, Chinese Minister for Science and Technology Wan Gang and Italy's major industrial association, Confindustria.In front of 250 Italian industrials and 100 Chinese businessmen and institution representatives, Minister Brunetta proposed to launch an "innovation alliance" from which both countries could benefit."Innovation curbs bureaucracy, allows direct access to services on internet and simplifies administrative procedures," he said, suggesting its revolutionary power in increasing a country's global competitiveness and well-being.At the forum Brunetta announced the launch of an important agreement between Italy's Innovation Agency and Beijing's Science and Technology Commission aimed at creating an Italy-China center for technological transfer which will focus on stimulating contacts between scientific parks, technological districts and small enterprises of both countries.