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GUIYANG, Feb. 20 (Xinhua) -- A fire broke out Saturday evening in a village in southwest China's Guizhou Province, local authorities said.

The CPC later initiated a campaign to improve the conduct of officials, focusing on the "three stricts and three honests." The slogan refers to "being strict in morals, power and self-discipline," along with "being honest in decisions, business and behavior."

BEIJING, March 7 (Xinhua) -- China's Vice Minister of Environmental Protection Wu Xiaoqing said on Monday the country's environmental protection efforts will not be eased despite an economic downturn.

For China, the currency yuan has been heading south since the government revamped the foreign exchange mechanism last year, and concerns about capital outflows have been on the rise.

We will actively promote reforms of the fiscal and financial systems. For example, business tax will be replaced with VAT in all sectors, a major step of structural reform that will save businesses more than RMB500 billion in tax. This will not only help us form a consistent tax system and eliminate double taxation. More importantly, it will strongly boost the development of the service industry, especially high-end services, such as R&D, and support the transformation and upgrading of the manufacturing sector. Most enterprises will benefit from the tax reduction to varying degrees, and small and micro businesses will see their tax burden significantly lightened. In times of fiscal difficulties, the government is doing this to release more water to nourish the fish in the pond, i.e. to generate continued momentum of growth with a short-term drop in fiscal revenue. It is also indicative of the room for fiscal flexibility left at our disposal. Let me give you another example. For reforms in the financial sector, we can explore market-based approaches for debt-for-equity swap to help lower corporate leverage ratio.