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BEIJING, Sept. 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, announced Friday it would continue the country's moderately easy monetary policy while making it better-targeted and more flexible in the coming months of this year.The PBOC made the announcement in its report on China's financial stability, which was released on the PBOC's website.The PBOC said in the next stage it needs to skillfully handle the relationship between maintaining steady and rapid economic development, restructuring the economy and managing inflation expectations.Chinese banks should continue supporting the country's economic restructuring, guard against risks, change profit structures, and improve the capital replenishing and restriction mechanism, the central bank said in the announcement.The announcement noted that local government debt was rising quickly, corporate liquidity was decreasing with a high current debt ratio, and credit card advances were increasing despite mounting financial assets held by residents and the low debt level.It said the global financial crisis had revealed limitations and gaps in the existing regulatory system. To prevent systemic risks, the central bank would combine macro and micro-prudential supervision in its policy package.

CAIRO, Sept. 26 (Xinhua) -- Chinese and Egyptian industry officials vowed closer bilateral economic ties on Sunday with the signing of an industrial cooperation agreement.Egyptian Minister of Trade and Industry Rachid Mohamed Rachid met with Chinese Minister of Industry and Information Technology Li Yizhong. Both talked about the expansion and improvement of bilateral trade and economic cooperation.Rachid told reporters that he hoped the new agreement would pave the way for more cooperation in different industry sectors including manufacturing of cars components, textiles, petrochemicals, electronics and technology."This agreement includes the process of sharing technology and increasing investment in the industrial sector and training of workers as well as helping Egyptian companies promote their products in the Chinese markets," said the Egyptian minister.The agreement also included the formation of an Egyptian- Chinese task force that takes the responsibility of sharing information and experiments in the industrial sectors and encouraging Egyptian and Chinese firms to establish joint ventures in different areas of cooperation, according to Rachid.Rachid said that Egypt wanted to benefit from the successful Chinese experience in the industrial sector.Egyptian Prime Minister Ahmed Nazif also met with the Chinese minister. The prime minister said Egypt shows great interest in boosting cooperation with China.The bilateral trade between Egypt and China increased from 3 billion U.S. dollars in 2006 to 6.24 billion dollars in 2008, according to Chinese Ambassador to Egypt Wu Chunhua.By the end of last year, Chinese investment in Egypt exceeded 500 million U.S. dollars. Chinese auto companies such as Chery Automobile and Brilliance Automobile have had assembly lines here in Egypt.Rachid expected that the Egyptian-Chinese cooperation would witness a great milestone in all sectors, particularly the trade and industry relations thanks to exchanges in the economic and political levels.

BEIJING, Oct. 23 (Xinhua) -- Chinese Premier Wen Jiabao expressed his hope for a continuously improving Beijing Film Academy in a handwritten congratulatory letter to the leading Chinese film school, dubbed the "cradle of China's filmmakers", as it celebrated its 60th founding anniversary on Saturday.State Councilor Liu Yandong also sent a congratulatory letter to the school, urging it to significantly improve the artists' originality and the integrity of the school's students.The Beijing Film Academy is the only school on the Chinese mainland that specializes in the study of cinematography. Its long list of prominent graduates includes many of the country's most important directors and popular movie celebrities.Among these directors are Zhang Yimou, winner of the top award at the Venice Film Festival and Chen Kaige, the only Chinese mainland director ever to win the top prize at Festival de Cannes.

BEIJING, Oct. 16 (Xinhua) -- When the 18 farmers in east China's Anhui Province, their bellies rumbling, stamped red fingerprints on the land-contracting agreement three decades ago, they never expected they might be making history."We had no other choice," said 70-year-old Yan Lixue. Prior to World Food Day this Saturday, he recalled the bitterness and successes from those past days.The elderly man used to be head of the production team at Xiaogang Village in Fengyang County.At that time, Fengyang was dubbed the "hometown of beggars", and was infamous for its poverty. It was the hometown of Zhu Yuanzhang, the first emperor (1368-98) of the Ming Dynasty. Ironically, Zhu, started as an insurrectionary army leader, though he used to be a beggar, too. The local opera in Fengyang was said to be sung for begging, at the beginning.With stubble on his square chin, Yan said his only memory of those days was hunger."At that time, we ate from the 'big cooking pot'," he recalled. The "big cooking pot" referred to the public kitchen. Establishment of the Peoples' Commune was made official state policy in 1958. In the Commune, everything was shared and people were encouraged to eat in the commune's kitchen. Private cooking was then banned and replaced by communal dining.But the food from the "big cooking pot" was not enough. In Yan's memory, the days were horrible when there were fewer than 0.25 kilograms of grain per person."Sometimes people ate wild herbs or bark from the trees," he said.As a result, 67 people died of hunger during the Great Leap Forward from 1959 to 1961 when six out of over 30 households in Xiaogang disappeared. In Fengyang, 90,000 people, or one in four people, died."Sometimes you would see a person tumble and never stand up again," Yan said.The nightmare was shared by another villager, Guan Youjiang."I had four children. When they cried with hunger, my heart ached," he recalled. In his home there were only pots and beds.Yan went out to beg in 1976. At first he begged in nearby Huaiyuan County, and then roamed further to the richer Jiangsu and Zhejiang provinces.He then refused to lead the production team any more. "The young people mostly went out to beg and few were left to work on the field."In fact, they were not allowed to beg all year long. "We took turns going out. There had to be someone working for the village."Realizing that they could starve to death, Yan believed that they had nothing to lose, although "signing the land contracting agreement could mean severe penalties, like imprisonment or even execution," he said.

BEIJING, Sept. 29 (Xinhua) -- A reception was held at the Great Hall of the People in Beijing Wednesday night to mark the 61st anniversary of the founding of New China, which falls on Oct. 1.Jia Qinglin, Xi Jinping and Li Keqiang, all members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joined 3,500 guests, including representatives of overseas Chinese and compatriots from Hong Kong, Macao and Taiwan, at the reception.Addressing the reception, Jia, who is also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said the country had gained great achievements over the past 61 years and overseas Chinese, along with the compatriots from Hong Kong, Macao and Taiwan, have made remarkable contributions to the prosperity of the motherland.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, addresses a reception in Beijing, capital of China, Sept. 29, 2010, to mark the 61st anniversary of the founding of New China, which falls on Oct. 1. Jia Qinglin, Xi Jinping and Li Keqiang, all members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, joined 3,500 guests, including representatives of overseas Chinese and compatriots from Hong Kong, Macao and Taiwan, at the reception.He pledged that the central government would firmly stick to its basic policies in Hong Kong and Macao to maintain the long-term development and stability of the two special administrative regions.The cross-Strait ties between the Chinese mainland and Taiwan were enhanced with a series of new and important achievements over the past year. The mainland would adhere to the peaceful development of cross-Strait relations and continue to promote mutual political trust, exchanges, common sentiments and Chinese culture among compatriots on both sides of the Strait, Jia said.The Chinese government would continue to protect the legitimate rights and interests of overseas Chinese through legal means, Jia said.