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BEIJING, June 7 (Xinhua) -- China's central bank on Saturday ordered lenders to set aside more money as reserve, the fifth such move this year. It was the latest effort to enhance liquidity management in the banking sector. The reserve-requirement ratio would be raised by 0.5 percentage points on June 15, and another 0.5 percentage points on June 25, the People's Bank of China (PBOC) said on its website. This will bring the ratio to a record high of 17.5 percent. The PBOC also said that corporate financial institutions in the worst quake-hit areas including Chengdu and Mianyang, would postpone carrying out the regulation. But it didn't say how long the delayed period would be. "The rise, a further materialization of the tight monetary policy, is aimed at strengthening liquidity management in the banking system," the statement said. "The government adopted differential monetary policies to support reconstruction in the quake-hit areas," said Peng Xingyun, a senior expert with the Chinese Academy of Social Sciences (CASS). Zhou Xiaochuan, the central bank governor said earlier that the PBOC was to take flexible monetary policy to aid after-quake reconstruction. The 8.0-magnitude earthquake centered on Sichuan's Wenchuan County has so far caused 206.53 billion yuan of economic losses to the industrial and mining enterprises in the quake regions. The PBOC had raised the ratio four times previously this year. The latest was on May 12 when it lifted the ratio to a new high of16.5 percent. Yin Jianfeng, director of the Institute of Finance and Banking with the CASS, said the move would help the country reduce inflationary pressure and to control excessive investment. "But the move will not be as effective as the government expected because inflation nationwide mainly resulted from surging production material and food prices," he said. "A simple monetary policy will not help." The consumer price index (CPI), the main inflation gauge, was up 8.5 percent in April from a year earlier. This was nearly equal to February's 8.7-percent rise, the most since May 1996. Some market experts said that after-quake restoration and reconstruction would beef up fixed assets investment, and add more inflation pressure to the nation's sizzling economy. Soaring demand for cement, steel, copper, zinc, and a luminium were expected to push up the prices of basic building materials, according to the experts. Zuo Xiaolei, Galaxy Securities chief economist, said huge foreign exchange reserves and economy unrest in neighbouring countries had posed great pressure to China's economy. This had forced the government to adjust its economic policy before it could reach a balance. "A great deal of hot money swarmed into China's capital market, and the PBOC aims to hedging excessive monetary liquidity," said Wu Xiaoqiu, head of the Financial and Securities Research Institute of the China Renmin University. Wu said the government was likely to carry out more monetary policies to curb inflation and liquidity in the near future. China adopted the tight monetary policy late last year to prevent the economy from overheating. It was also to guard against a shift from structural price rises to evident inflation. The country adhered to the policy despite a global slowdown hit by the international credit crunch. The country's economic growth slowed in the first quarter but still reported double-digit growth. It expanded 10.6 percent, compared with 11.7 percent in the same period a year ago.
BEIJING, Aug. 16 (Xinhua) -- For a second day, the Olympic host city reported Grade I -- or excellent -- air quality on Saturday, the eighth day of the Olympics. In most of the day, the city basked in sunshine. Figures released by the China Environmental Monitoring Center (CEMC) revealed that Beijing's Air Pollution Index (API) showed a reading of 23 on Saturday, which fell into Grade I, whose API reading ranges between 1 and 50. On Friday, CEMC's figures showed an API reading of 17. China uses the API system to report the country's air quality. An API reading between 51 and 100, or Grade II, means the air quality is fairly good. An API reading between 101 and 150, or Grade III, entails the air quality is slightly polluted.Also on Saturday, deputy director of the Beijing Municipal Bureau of Environmental Protection Du Shaozhong said the city reported seven days with Grade I air quality in the first half month in August, which was the highest since 1998. In the other eight days, Beijing's air quality was in Grade II, which was within the standards to host the Olympics. "Beijing often reports more days with Grade I air quality during the autumn and winter in comparison with the summer. But this August, the number of days with excellent air quality is unusually high," he said. Since 1998, the highest monthly number of days with excellent air quality in the summer was five, in July of 2006, he said. Last August only two days reported excellent air quality. Du forecast that Beijing's air quality would be excellent or fairly good during the Olympics and Paralympics. "Should weather conditions be favorable, Beijing's air quality would be excellent. Should weather be unfavorable, the air quality would be in Grade II," he saidWang Zifang, a Beijing-based expert on weather forecasting, said Beijing's air quality would be excellent until Monday. "During Aug. 19-21, the wind is forecast to change direction and may bring pollutants from cities to the southeast of Beijing, such as Tianjin and Langfang," Wang said. Du attributed good air quality to efforts made by Beijing to curb air pollution over the last nine years, especially this year. Beijing municipal government said it had poured more than 140 billion yuan (20.5 billion U.S. dollars) since 1998 into more than 200 projects dedicated to improving the city's air quality. In the run-up to the Beijing Games, the host city implemented some drastic measures to reduce pollution. In one of these measures, Beijing has imposed an odd-even restriction system based on licence plate numbers that would keep vehicles off the road on alternate days from July 20 to Sept. 20.

BEIJING, Oct. 5 (Xinhua) -- China's National Bureau of Statistics (NBS) under new chief Ma Jiantang is likely to reform its statistical system to ensure the authenticity and timeliness of data and help the government to better cope with the uncertainties of outside economic influences, the minutes of an NBS meeting show. After his inauguration as the NBS director, Ma has said he felt pressure, but was confident of taking over "the baton of statistical reform and development." "The changing world economy, especially the financial turmoil triggered by the U.S. sub-prime mortgage crisis, had increased the uncertainties of China's macro-economic development and stability and set new tasks for statisticians," said Ma. "I would like to work with all NBS staff together to advance reforms and innovations in statistical systems, indices and methods to make sure statistical work could better serve the pursuit of scientific development to shift the target of economic expansion from quantity to quality, and building a moderately prosperous society." According to the minute, Ma gave no details of his reform plans. But his predecessor, Xie Fuzhan, who was transferred to head the Research Office of the State Council, admitted in his leaving speech that the foundation for China's statistical work remained feeble, with a lot to be done in optimizing statistical methods and management. "Both the status of statistical departments and the capability of statisticians needs to improve to meet their obligations and fulfill their tasks," Xie said. He took up the post two years ago after his predecessor Qiu Xiaohua fell over fund scandal. Authorized by the State Council to examine and calculate the economic output nationwide and to collect and compile economic figures for almost all industries and sectors, the NBS offers basic statistical information and policy advice for higher authorities and government departments. Ma, a doctor of economics who graduated from the Chinese Academy of Social Sciences, viewed authenticity and timeliness as "the lifeblood of statistics work" and "the way for statisticians to conduct themselves". He said the essence and core of statistics was to reflect facts, analyze real situations and seek truth, according to the minute. Ma also urged NBS staff to resist all fabrications of data, secure the quality of figures and work with professionalism. Under the current management system, local statistical departments serve two bosses, with the NBS giving them statistical assignments but local governments in charge of their personnel and finance. The NBS was only authorized to assist governors, municipal mayors and autonomous region chiefs in managing the heads of NBS branches. Prestige-minded local officials looking for advancement have often tested the integrity of statisticians within their jurisdiction. To remedy the situation, China's legislature revised the implementation rules of Statistics Law in 2006, which authorized NBS investigation teams to undertake independent statistical surveys and reports in all provinces, municipalities and autonomous regions. Under the Statistics Law, leading members of local authorities who alter statistical data without authorization, fabricate statistical data, compel or prompt statisticians to tamper with figures will be subject to administrative sanctions. Officials who retaliate against statisticians who refuse to fabricate data face criminal penalties. After more than two decades of sizzling growth at the cost of depleted resources, increased energy consumption and environmental damage, the Chinese economy is undergoing a tough rebalancing that puts more emphasis on quality than quantity. As global economic slowdown could dampen exports -- a major growth engine -- more than expected, the government has become increasingly careful with monetary tools like interest rates, deposit reserve ratios as well as industrial and fiscal policies so as not to plunge the expanding economy into recession. Senior decision-makers have been demanding precise and more timely statistics for earlier warnings in the event of slowdown or other ailments. Ma was appointed vice governor of Qinghai in December 2004 and used to work with the State Economic and Trade Commission and the Assets Supervision and Administration Commission of the State Council.
TAIYUAN, Sept. 11 (Xinhua) -- Rescuers on Thursday had finished searching more than half the mud-covered areas in north China after a mud-rock slide left 128 people dead. Shanxi Provincial Government Secretary-General Wang Qingxian said about 60 percent of the area had been combed. Altogether 2,000-plus rescuers, with the aid of more than 110 excavators, were searching for survivors. He said Internet claims that hundreds of people were missing was mere speculation. "The specific figure of the people missing in the disaster has not been established yet," said Wang at a news conference. "We are still evaluating the situation." He promised timely and transparent updated casualty numbers, adding 36 people had suffered injuries. If the weather conditions allowed, searchers would finish looking for survivors in three to five days, he said. Relatives of the dead will get 200,000 yuan (29,215 U.S. dollars) each as compensation, according to the provincial government. The State Council, China's Cabinet, has set up an accident investigation team, including officials from the State Administration of Work Safety, Shanxi provincial government, Supervision Ministry, Land and Resources Ministry and All China Federation of Trade Unions. Wang Jun, the State Administration of Work Safety director, was heading the team. The government has begun examinations to more than 700 tailing ponds in the province to avoid similar accidents from happening again. There was no epidemic at the area and the injured were receiving treatment, said Gao Guoshun, the provincial health department head, at the news conference. The water there was not polluted after examination, Gao added. The disaster happened when the bank of a pond holding waste oredregs of an unlicensed mine burst. Some reports said hundreds were feared to have been buried underneath the mud, but the local government had released no figures concerning the number of missing. Wang Qingxian said the mine was purchased and transferred to a man named Zhang Peiliang when the local government auctioned it off in 2005. But Zhang did not apply for new licenses after its safety production license was suspended in 2006 and the mining license expired in 2007. "It was an accident of grave responsibility after initial analysis," said Wang Dianxue, the State Administration of Work Safety deputy head and also the investigation team deputy head. The accident occurred around 8 a.m. on Monday in a pond holding waste ore dregs of the Tashan Mine in Xiangfen County, Linfen City, which was soaked by torrential rain. In total, an area of 30.2 hectares was covered by the mud. The mud-rock flow damaged buildings, trade markets and some residences lying downstream.
BEIJING, Aug. 16 (Xinhua) -- For a second day, the Olympic host city reported Grade I -- or excellent -- air quality on Saturday, the eighth day of the Olympics. In most of the day, the city basked in sunshine. Figures released by the China Environmental Monitoring Center (CEMC) revealed that Beijing's Air Pollution Index (API) showed a reading of 23 on Saturday, which fell into Grade I, whose API reading ranges between 1 and 50. On Friday, CEMC's figures showed an API reading of 17. China uses the API system to report the country's air quality. An API reading between 51 and 100, or Grade II, means the air quality is fairly good. An API reading between 101 and 150, or Grade III, entails the air quality is slightly polluted.Also on Saturday, deputy director of the Beijing Municipal Bureau of Environmental Protection Du Shaozhong said the city reported seven days with Grade I air quality in the first half month in August, which was the highest since 1998. In the other eight days, Beijing's air quality was in Grade II, which was within the standards to host the Olympics. "Beijing often reports more days with Grade I air quality during the autumn and winter in comparison with the summer. But this August, the number of days with excellent air quality is unusually high," he said. Since 1998, the highest monthly number of days with excellent air quality in the summer was five, in July of 2006, he said. Last August only two days reported excellent air quality. Du forecast that Beijing's air quality would be excellent or fairly good during the Olympics and Paralympics. "Should weather conditions be favorable, Beijing's air quality would be excellent. Should weather be unfavorable, the air quality would be in Grade II," he saidWang Zifang, a Beijing-based expert on weather forecasting, said Beijing's air quality would be excellent until Monday. "During Aug. 19-21, the wind is forecast to change direction and may bring pollutants from cities to the southeast of Beijing, such as Tianjin and Langfang," Wang said. Du attributed good air quality to efforts made by Beijing to curb air pollution over the last nine years, especially this year. Beijing municipal government said it had poured more than 140 billion yuan (20.5 billion U.S. dollars) since 1998 into more than 200 projects dedicated to improving the city's air quality. In the run-up to the Beijing Games, the host city implemented some drastic measures to reduce pollution. In one of these measures, Beijing has imposed an odd-even restriction system based on licence plate numbers that would keep vehicles off the road on alternate days from July 20 to Sept. 20.
来源:资阳报