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BEIJING, Aug. 31 (Xinhua) -- China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.Ye Yanfei, deputy head of the Statistics Department of the China Banking Regulatory Commission (CBRC), said the CBRC will restrain speculative property investment and support the building of affordable housing while controlling risk.China's housing market and lending to the property sector are crucial to the national economy and people's livelihood, as well as to the stable and steady development of the nation's banking sector, Ye said at a seminar in Beijing.Ye's remarks come after the banking regulator said it would further "instruct and monitor" commercial banks' efforts to strengthen the management of lending to home-buyers.Ye's comments echo those of Zhang Ping, director of the National Development and Reform Commission, who said last Thursday in a report to China's top legislature the government will "further implement the measures meant to curb excessive gains in housing prices and resolutely restrain speculative property investment in the second half the year."Ye also said the CBRC has pushed lenders to test the impact of falling house prices, although the regulator said earlier that hypothetical scenarios examined in stress tests do not herald any change in policyHousing prices in major Chinese cities rose 10.3 percent year on year in July, slower than the 11.4 percent growth rate in June, according to official figures.On a monthly basis, housing prices in June fell 0.1 percent from May and July prices were unchanged from June.
PYONGYANG, Oct. 23 (Xinhua) -- A delegation of senior Chinese military officers watched the "Arirang" performance here Saturday night as part of celebrations to mark the 60th anniversary of the entry of the Chinese People's Volunteers (CPV) into the Korean War front.The delegation, led by Guo Boxiong, vice chairman of China's Central Military Commission, is on a four-day visit to the Democratic People's Republic of Korea (DPRK). They were joined at the show by Kim Yong Nam, president of the Presidium of the Supreme People's Assembly of the DPRK.Before the show, Guo met Kim and a number of other DPRK leaders, including Choe Yong Rim, premier of the cabinet, and Kim Yong Chun, vice-chairman of the National Defence Commission.Guo hailed the DPRK's attention to its relations with China. He said the visit of the delegation was to implement the important consensus reached between Chinese President Hu Jintao and the DPRK's top leader Kim Jong Il.China would work with the DPRK side to make an active contribution to the continuous promotion of the Sino-DPRK friendship, Guo said.Kim Yong Nam warmly welcomed the visit of the Chinese delegation.The DPRK cherished its friendship with China. To consolidate and develop the relations was the firm will of the DPRK, Kim said.The "Arirang", a mass gymnastic and artistic show with some 100,000 performers, showcased the achievements made by the DPRK people in socialist construction, and their love of the fatherland, aspiration for reunification and peace.The CPV entered the DPRK on Oct. 25, 1950, about four months after the Korean War broke out.In an article marking the anniversary, the DPRK's official KCNA news agency said Thursday that the CPV not only displayed a spirit of self-sacrifice and heroism but also promoted friendship.

BEIJING, Oct. 11 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Monday as the central parity rate of the yuan was set at 6.6732 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Monday's central parity rate beat the previous record of 6.6830 on Oct. 8.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Monday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.26 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said in Washington on Sunday.
BEIJING, Oct. 7 (Xinhua) -- China saw a record number of road trips by travelers during the week-long National Day holidays that started Oct.1, data from the Ministry of Transport (MOT) showed Thursday.Travelers logged in a total of 474 million journeys on the roads between Oct. 1 and 7, up 10.9 percent from the same period last year, MOT spokesman He Jianzhong said, adding that the average figure per day was 67.71 million -- a new record high.He said a big increase in short- and medium-distance trips for sightseeing and visits to families and friends contributed to the boom.The country's transport authorities had to deploy 910,000 medium- and large-sized coaches nationwide per day to cope with the transport surge, he added.The waterways sector recorded about 8.66 million journeys during the seven days, up 25 percent from a year earlier, he said.
来源:资阳报