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BEIJING, Feb. 6 -- The Chinese government is looking at ways to protect consumer rights and develop common standards in the burgeoning pre-paid card industry.The popularity of the cards has flourished in recent years in major cities such as Shanghai and Beijing. In 2007, just four companies in Beijing issued them. Now more than 300 have been registered in the city with the People's Bank of China (PBOC).Complaints have also risen. In Shanghai, where the cards are used most, 4,800 people complained between January and November last year compared with 4,049 during the whole of 2008.Most complaints were about the cards' expiry, as money left on them is kept by some companies."I feel my money on the pre-paid card is very risky since I have to pay close attention to when it expires and try to spend all of it before that date or I will lose it. It's unfair to limit the time available to spend my own money," said Liu Xiaodan, a 26-year-old salesman.It's estimated that the total volume of money left on pre-paid cards after they expire is more than 100 million yuan in Shanghai. The figure for Beijing is not available.The PBOC will launch a series of supervisory regulations this year to oversee the operation of pre-paid card companies, said Zhang Wei, a financial industry analyst. "One of the most important aspects is the management of any money left on the card after it expires. Any investment of money on the cards either before or after they expire must be at zero risk."Fang Xinghai, the head of Shanghai Finance Office, said his organization worked closely with the PBOC to keep an eye on pre-paid card companies."We suggest that special accounts should be opened with the bank where the money on the cards is held to ensure it is safe," he said."If that happens, even if the company goes bust, the money will still be fixed in the account and the cardholders' rights will be protected."Warnings about the risks involved in using pre-paid cards are displayed on the Beijing Administration for Industry and Commerce's website. Complaints about the cards tend to reach their peak during the Spring Festival, when many people buy them as gifts for friends and relatives.The first pre-paid card arrived in Beijing in 2002. Customers can deposit between 100 and 200,000 yuan on them for use at participating shops, restaurants and gyms.Some companies issue them to their employees as an extra benefit.Their popularity took off because they save the inconvenience of carrying money around and enable people to control spending, especially useful if they are given to children or housekeepers.However, the companies behind them are currently regarded as unspecified financial institutions by the PBOC and, as such, are not strictly regulated. That means people have few rights if the company goes bankrupt. They will no longer be able to use the cards, no matter how much money is on them, and will have difficulty reclaiming their cash.Cheng Xi, a 28-year-old engineer, said: "I received the pre-paid card as a gift but I would not buy one myself because I'm not familiar with the pre-paid card company and, if it goes bankrupt, my money would disappear."No matter how distinguished and reputable the company behind a card is, its most important challenge is to win clients' trust."Having a standard trademark like China UnionPay, which has a good reputation for reliability, is necessary for a company to distinguish it from those with a bad reputation. The company that wins the trust of most clients will be the biggest winner," said Clark Lin, a financial analyst at Thomson Reuters.Fu Dingsheng, a civil and business law expert at East China University of Political Science and Law, said: "Part of the pre-paid card company's capital should be classified as a guarantee deposit when the issuers register their companies. In that way consumers' rights can be met to some extent when a dispute occurs."Even though the prepaid card sector is an emerging industry with little or no supervision, the government is speeding up its oversight of the sector."PBOC is playing a leading role in the supervision of the industry. We regard this as an important task to complete in order to protect consumers' rights to the greatest extent," said Fang from Shanghai Finance Office.
BEIJING, Feb. 16 (Xinhua) -- China has seen progress in the development of the law profession as it strives to build a country based on the rule of law.According to the Ministry of Justice, the country had more than 15,000 law firms, more than 166,000 lawyers, and more than 220,000 people working in the sector at the end of 2009.By Oct. 2009, foreign law firms from 21 countries had set up 224 representatives offices in China, while law firms from Hong Kong Special Administrative Region had set up 65 offices on the mainland, the ministry said.Sixteen lawyers are deputies in the National People's Congress, China's top legislature, and 22 lawyers are members of the National Committee of the Chinese People's Political Consultative Conference, the nation's top political advisory body.Last year, the country's lawyers handled nearly 2 million lawsuits, and dealt with more than 534,000 non-litigious legal matters, plus more than 184,000 cases of legal aid.Statistics show in 2008, lawyers billed their clients 30.9 billion yuan (4.54 billion U.S. dollars) and paid more than 4 billion yuan in taxes.No corresponding figures for the year of 2009 are available.
BEIJING, Jan. 19 (Xinhua) -- Vice Premier Li Keqiang said on Tuesday China would continue to pursue a low birth rate while actively coping with problems such as sex ratio imbalance and the aging of population.Li made the remarks when inspecting the National Population and Family Planning Commission. Chinese Vice Premier Li Keqiang visits a laboratory of China Population Devolpment Research Center in Beijing, China, Jan. 19, 2010. Li Keqiang made an inspection tour to the population and family planning commission and affiliated research institutions on TuesdayChina still faced pressure from population growth and "new situations" had emerged in population structure as its industrialization and urbanization continued to proceed, Li said.Efforts were needed to achieve reasonable distribution and orderly flow of population, he said, adding population and family planning authorities should put people first and better serve people at grassroots communities. Chinese Vice Premier Li Keqiang visits a laboratory of the scientific research center of National Population and Family Planning Commission of China, in Beijing, China, Jan. 19, 2010. Li Keqiang made an inspection tour to the population and family planning commission and affiliated research institutions on TuesdayHe asked population and family planning authorities to provide better services for urban and rural residents, especially farmers and floating population.Official figures show the country's birth rate went down from more than 1.8 percent in 1978 to around 1.2 percent in 2007.China's family-planning policy was introduced in the 1970s to rein in its surging population by encouraging late marriages and late childbearing and limiting most urban couples to one child and most rural couples to two children.It's estimated that without the policy, the country's population would be 400 million more than the current 1.3 billion people, according to the National Population and Family Planning Commission. Chinese Vice Premier Li Keqiang shakes hands with personnels of the scientific research center of National Population and Family Planning Commission of China, in Beijing, China, Jan. 19, 2010. Li Keqiang made an inspection tour to the population and family planning commission and affiliated research institutions on Tuesday
BEIJING, Feb. 25 (Xinhua) -- China denied on Thursday that its economic and trade exchanges with the Democratic People's Republic of Korea (DPRK) has violated a United Nations (UN) resolution.At a regular press conference, Chinese Foreign Ministry spokesman Qin Gang was asked to comment on a report by Yonhap news of the Republic of Korea quoted by China Daily saying Pyongyang announced two islets adjacent to China's northernmost port city Dandong would be developed by Chinese enterprises as a free trade area."This project is purely normal economic and trade contact between the two countries. It does not go against the UN relevant resolution of sanction on the DPRK," he said.The UN Security Council last June adopted a resolution imposing tougher sanctions on the DPRK, including a tighter arms embargo and new financial restrictions, after the DPRK announced a successful nuclear test on May 25, the second since 2006.The resolution also underlined that "measures imposed by this resolution are not intended to have adverse humanitarian consequences for the civilian population of the DPRK."
BEIJING, Feb. 5 (Xinhua) -- The State Council of China Friday issued an urgent notice urging relevant departments and local authorities to settle pay disputes involving migrant workers as millions of them are heading home for lunar new year reunion.The notice asked local governments and relevant departments to prioritize in their work the settlement of migrant workers' back pay dispute with their employers.It underlined the construction industry where back pay disputes often happen.It also ordered local governments to improve the emergency management system to respond to possible mass incidents caused by pay disputes.Two migrant workers were stabbed to death by their employer over a pay dispute Wednesday in central China's Henan Province.The two men asked for wages on behalf of 17 fellow workers and got into a fight with their labor contractor after being told that their monthly payment had been docked by over 100 yuan (about 14.6 U.S. dollars), and then were stabbed in the neck with a fruit knife by the contractor.In China, millions of migrant workers from the countryside make their living in booming cities. Back pay to migrant workers has affected the income of the rural population for a long time and is considered a "chronic illness" undermining social stability.