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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.1 (Xinhua) -- Chinese Vice President Xi Jinping on Monday urged all localities and departments to earnestly summarize experiences of the study and implementation of the Scientific Outlook on Development and make full use of its positive outcomes.Xi, also a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when he chaired a seminar held Monday in Beijing on the sum-up of the study and implementation of the theory, which emphasized the well-being of people and comprehensive, coordinated and sustainable development. Chinese Vice President Xi Jinping (C), who is also a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, addresses at a seminar in Beijing, capital of China, Feb. 1, 2010. Xi Jinping urged all localities and departments to earnestly summarize experiences of the study and implementation of the Scientific Outlook on Development and make full use of its positive outcomes in the seminar.He called for efforts to continue the study and research on the scientific outlook on development and well implement the theory, so as to accumulate new experiences.The CPC launched the campaign to study and implement the theory in September 2008, embracing a wide participation of more than 75 million CPC members.The campaign was scheduled to end at the end of this month, but Xi said, the implementation of the theory was a long-term mission and must be continued.

BEIJING, March 2 (Xinhua) -- China on Tuesday urged the United States to work to push bilateral ties back to normal track as two senior U.S. diplomats came to Beijing with hope to ease tensions between the two countries.U.S. Deputy Secretary of State James Steinberg and National Security Council Senior Director for Asian Affairs Jeffrey Bader began their visit in Beijing from Tuesday to Thursday before going to Japan.China's foreign ministry has so far given few details about the visit. The U.S. embassy in China has no plan to hold a press conference as usual."We will have a press release as soon as we get further information about the detailed arrangements," Chinese Foreign Ministry spokesman Qin Gang said, declining to disclose whom the two U.S. diplomats will meet.But Qin repeated at the regular news briefing that the responsibility of the setback of the Sino-U.S. relations lay with the U.S. administration."We urge the U.S. side to earnestly observe the principles laid down in the three Sino-U.S. joint communiques and their joint statement, respect China's core interests and properly handle sensitive issues, and work with the Chinese side to push relations back on a healthy and normal track," Qin said.The United States angered China with its decision to sell arms to Taiwan and President Barack Obama's meeting with the ** Lama regardless of China's objections. China has repeated that the U.S. move would severely harm its core interests.Steinberg's trip was widely seen as a U.S. effort to mend ties with China at a time when they need to cooperate on a range of global issues, including the economic downturn, climate change and trade liberalization.U.S. State Department spokesman Philip Crowley said Monday that the two sides would discuss "bilateral, regional and global issues" during the visit, which would be "an opportunity to refocus on the future."Steinberg and Bader are expected to talk about the Iran nuclear issue as Western powers are weighing sanctions against Iran over its nuclear program.But Qin said there is still room for diplomatic efforts and the parties should work to maintain and promote the process of dialogue and negotiations for a proper resolution of the Iran nuclear issue.Also on Tuesday, a senior Chinese official said Sino-U.S. relations were experiencing a "spring chill" at the beginning of 2010 and suggested more cooperation and "less containment" in bilateral ties.

BEIJING, Feb. 8 (Xinhua) -- Chinese Premier Wen Jiabao urged China and Japan to strengthen exchange and cooperation Monday to boost mutual understanding and trust.Wen made the remarks while meeting with members of the fifth 21st Century Committee for China-Japan Friendship. The committee, an advisory panel to both nations' governments, convened a meeting in Beijing on Sunday to discuss various aspects of China-Japan relations and to provide suggestions to the two governments."The foundation, as well as the hopes for and future of China-Japan friendship, lies in the peoples of the two countries," Wen said.Chinese Premier Wen Jiabao (R, front) meets with members attending the first meeting of the fifth 21st Century Committee for China-Japan Friendship in Beijing, capital of China, Feb. 8, 2010.Stressing that both sides need to take history as a mirror and face the future, Wen said China and Japan should handle relevant issues with the broad situation of Asia and the world in mind, enhance exchange and cooperation and increase mutual understanding and trust, so that the peoples of the two nations can become closer to each other and further develop bilateral ties.Hailing the committee as the bridge linking the two countries and the two peoples, Wen said he believed the committee would produce fruitful outcomes with the concerted efforts of the two parties.Chinese Foreign Minister Yang Jiechi (R) meets with Taizo Nishimuro, Tokyo Stock Exchange (TSE) president, and chief member of the Japan side of the first meeting of the fifth 21st Century Committee for China-Japan Friendship in Beijing Feb. 8, 2010China's Foreign Minister Yang Jiechi also met with the committee members.The committee met the press during their first meeting earlier Monday. During the meeting, Chinese chair of the panel Tang Jiaxuan dismissed the notion China's development meant acting "tough" towards others."The anxiety over China's being tough is groundless and unnecessary. What's crucial is the actual policies and moves China has taken," Tang said when asked if China will take "tougher" policies vis-a-vis Japan as the two countries' gap in national strength narrows.Tang said China's achievements over the last six decades have been notable and that the country's gap with Japan has narrowed.Still, he noted, China's per capita GDP is only 3,700 U.S. dollars, meaning it is not in the top 100 ranking of countries by the measure while Japan's per capita GDP is well over 40,000 U.S. dollars.China still has 150 million people living in poverty, according to the UN's standard of poverty of living on less than one U.S. dollar a day, Tang noted."That means China will remain a developing country for a long time into the future and needs to focus on its own development.""By tradition, China advocates harmonious relations with neighboring countries. China will stick to a peaceful development path and befriend the peoples of neighboring countries with diplomatic relations and build harmony in Asia and the world at large," Tang said.

BEIJING, Feb. 18 (Xinhua) -- A report by the Ministry of Industry and Information Technology said the overall situation of China's iron and steel industry will be better than last year, thanks to the steady momentum of economic recovery.The report said four factors will have positive impact on the iron and steel industry: increased government investment, a clear recovery of global economy, ample money supply in the market and a series of upcoming government policies aimed at promoting healthy development of the iron and steel industry.However, the ministry held that the foundation of the current economic recovery still needs to be consolidated and external demand still falls short, creating fairly big difficulties for the operation of the iron and steel industry.The report said in 2010 iron and steel companies must be prepared to face the challenges of over supply, sluggish international market and rising production cost.In 2009, China's 68 large and medium sized iron and steel companies made 55.39 billion yuan (8.12 billion U.S. dollars) in profit, down 31.43 percent year on year.