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BEIJING, July 10 (Xinhua) -- China's Ministry of Finance (MOF) announced Friday that it will launch two more batches of electronic savings bonds of up to 50 billion yuan (7.32 billion U.S. dollars) since next week. According to the ministry, one batch of the e-savings bonds of 40 billion yuan has a term of three years, with a fixed annual interest rate of 3.73 percent. The other, the five-year e-savings bonds, is worth 10 billion yuan at a fixed annual interest rate of four percent. The two bonds will be issued from July 15 to 31, with interests to be calculated from July 15 and paid annually, said the ministry in a statement on its website. These bonds are open to only individual investors, the MOF said. Compared with other types of bonds, the e-savings bond is seen as more convenient for investors. For example, the interest can bepaid through direct deposit into the investor's account. This is the second time the ministry launches this kind of bond this year, with the first issuance of two batches of e-savings bonds in April. The ministry also said it would issue two batches of book-entry treasury bonds next week with a face value of 12.48 billion yuan and 12.65 billion yuan each. One with the face value of 12.48 billion yuan has a term of 91 days, and the issue price, set by competitive bidding, was 99.72 yuan for a face value of 100 yuan. In this sense, the annual yield will be 1.15 percent, the ministry said. The other has a term of 273 days, and the issue price was set at 99.077 yuan for 100 yuan, with an annual yield of 1.25 percent. The ministry said the book-entry T-bonds will be sold from July 13 to July 15. Trading of the bonds will begin July 17.
UNITED NATIONS, July 13 (Xinhua) -- The international community should give a more balanced assessment of the political progress Myanmar has made and treat it with less arrogance and prejudice, a senior Chinese diplomat said here Monday. Liu Zhenmin, China's deputy permanent representative to the UN, told an open meeting of the Security Council that "it has been unfair to turn a blind eye to the progress Myanmar has made, or instead, always be picky at its government." Liu said the UN Secretary-General Ban Ki-moon has been actively conducted good offices in Myanmar as mandated by the General Assembly in recent years. "His unremitting efforts and the positive outcome thereby achieved deserve an objective and fair assessment by the international community," he said. Ban briefed the 15 members of the Security Council at the meeting on his latest visit to the south-eastern Asian country on July 3-4, the second in just over a year. An open Security Council meeting on Myanmar is held at the UN headquarters in New York, the United States, July 13, 2009. China is opposed to putting the Myanmar question on the UN Security Council agenda and is against isolating and sanctioning against the country, China's deputy permanent representative to the UN Liu Zhenmin said here on Monday, stressing the events that happened inside Myanmar were its internal affairsDuring his visit, Ban met with Senior-General Than Shwe, Myanmar's head of state, and people from other political parties including the National League for Democracy (NLD), but was under pressure from some media and certain countries due to his failure to meet with NLD leader Aung San Suu Kyi. Liu voiced China's support to Ban and highly appreciated his recent visit, calling the visit "positive and full of significance." "Whether or not he met with Aung San Suu Kyi should not be used as a criterion to measure the success of the visit," he said. Also on Monday, Myanmar's UN Ambassador U Than Swe told the Security Council that his government regretted its inability to arrange the meeting as the special court has its independent jurisdiction over the matter. "Aung San Suu Kyi was unfortunately involved in the legal proceed. In order to maintain the justice of judicial process, the Myanmar government did not arrange the bilateral meeting. This is totally understandable. The UN should respect the jurisdiction of its member state," Liu said. He said China has time and again stressed that the secretary-general's good offices are a process and his visit is a part of the efforts. Ban had in-depth talks with top leaders of Myanmar, directly conveyed to them the concern of the international community and enhanced mutual trust between Myanmar and the UN, Liu said. "This will play an important role in encouraging the Myanmar side to maintain the current momentum and promote the democratic process according to the established plans," Liu said.

BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao has called for more confidence in the country's stable economic growth and gaining more strength to better people's livelihood. He made the calls during an inspection tour in northeastern China's Heilongjiang Province from June 26 to 28, one of the country's old industrial bases and important granaries. Hu encouraged people in Heilongjiang to seize the opportunity as China moved to revitalize its old industrial bases, to overcome the difficulties and maintain a steady economic growth and ensure people's livelihood. Chinese President Hu Jintao (C) talks with residents at Dongsheng Village in Wuliming Town of Zhaodong City, northeast China's Heilongjiang Province. President Hu Jintao made an inspection tour in Heilongjiang Province on June 26-28, 2009. During his three-day inspection tour, Hu visited Harbin Measuring and Cutting Tool Group and Harbin Aircraft Industry Group, two of the province's major industrial enterprises, and pointed out that independent innovations are key to high competitiveness and further development. "Crisis creates opportunities, and we shall put more efforts in technological upgrading, and build up technology reserves for the future," he said. Hu also visited rural areas and inspected crop growth. He encouraged farmers to increase grain production and boost agricultural modernization, so as to ensure the country's grain security. More supportive policies for farmers are on the way, he said, hoping that farmers could increase their incomes with improved policies and technologies. Hu also visited an oil field, a military camp, a school for intellectually challenged children, a human resources market, and a residential community which houses people who formerly lived in shanties.
BEIJING, May 31 (Xinhua) -- China will raise gasoline and diesel benchmark retail prices by 400 yuan (58.6 U.S. dollars) per tonne as of Monday, the National Development and Reform Commission(NDRC) announced Sunday. The benchmark retail price for gasoline would increase by 7 percent and the price of diesel by 8 percent, said a statement on the NDRC website. It is the third oil price adjustment this year. On March 25, the NDRC, the country's top economic planner, lifted benchmark retail price of gasoline by 290 yuan per tonne and diesel by 180 yuan per tonne. The increase was in response to the rising international crude prices under the country's the new fuel pricing mechanism, which took effect Jan. 1, according to the NDRC. China will raise gasoline and diesel benchmark retail prices by 400 yuan (58.6 U.S. dollars) per tonne as of Monday, the National Development and Reform Commission(NDRC) announced Sunday. According to the new mechanism, China's domestic prices are to be "indirectly linked" to global crude prices "in a controlled manner." China would adjust domestic fuel prices when global crude prices reported a daily fluctuation band of more than 4 percent for 22 working days in a row. NDRC pricing department official Xu Kuning has explained the "indirect link" as "based upon average global crude prices, while taking into account domestic production costs, taxation, and 'appropriate profits' of oil producers." Crude prices have jumped 30 percent in May, the largest monthly rise since March 1999, boosted by expectations of a global economic recovery later this year. Light, sweet crude for July delivery rose 1.23 dollars, or 1.9 percent, to settle at 66.31 dollars a barrel Friday on the New York Mercantile Exchange. In Sunday's notice, the NDRC urged the two state-owned oil producers, PetroChina and Sinopec, to increase oil production to meet demand. It also urged local pricing regulators to strengthen supervision over oil prices and crack down on any price violations.
FLORENCE, Italy, July 7 (Xinhua) -- Visiting Chinese President Hu Jintao said Tuesday that China highly values its relations with Italy and is willing to broaden consensus and deepen pragmatic cooperation with the country in various fields. Bilateral relations have developed smoothly since China and Italy established diplomatic relations 39 years ago, Hu said at a meeting with senior Italian officials, including Culture Minister Sandro Bondi and Toscana Region's President Claudio Martini. He added that the two countries have further deepened their cooperation in politics, economy, culture and other fields especially since they set up an all-around strategic partnership in 2004. Chinese President Hu Jintao (R) meets with Giancarlo Galan, president of Italy's Veneto region, in Venice, Italy, on July 7, 2009 On regional cooperation between the two countries, the president said he is convinced that with the joint efforts from both sides, new achievements will be made in cooperation between Toscana Region and relevant regions in China. Bondi and other Italian officials welcomed Hu's visit to Florence, capital of Toscana Region, and said they were inspired by China's development over the past years and would enhance exchanges with China so as to bring the friendly relations at the local level to a new height. Italy will actively participate in the 2010 Shanghai World Expo and strive to ensure the "Chinese Culture Year" next year in Italy a success, the officials added. Hu arrived in Rome on Sunday for a state visit to Italy.
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