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BEIJING, Oct. 24 (Xinhua) -- China's Ministry of Commerce (MOC) vowed to step up regulation of sugar markets on Sunday after reserves helped stabilize prices which recently rose to a record high amid continuing harsh weather.Between Oct. 10-17, the retail price of small-packed sugar averaged 7.68 yuan per kilogram in major cities, up 1.3 percent from the end of September, according to data provided by the MOC.It shows that prices have begun to stabilize, according to the MOC website. The ministry also vowed to strengthen market regulations.China auctioned 210,000 tonnes of sugar reserves on Oct. 22 in a bid to curb soaring prices, which have been blamed on this season's frequent extreme weather in China's major sugar-producing areas, as well as reduced supplies overseas.In southwest China's Guangxi Zhuang Autonomous Region, the country's major sugar-growing area, sugar prices hit a record 6,000 yuan per tonne (902.3 U.S. dollars) on Oct. 11.Further, sugar futures hit an eight-month high of 683.20 pounds per tonne in London on Oct. 15.Also, the MOC said government reserves remain abundant and pledged to improve market supplies and ensure the public's needs.Between October 2009 and September 2010, eight batches of reserve sugar, or a total of 1.71 million tonnes, were auctioned, according to the MOC.

BEIJING, Sept. 19 (Xinhua) -- Ghana's President John Evans Atta Mills arrived in Beijing on Sunday evening, kicking off his state visit to China.During his six-day China trip, Mills will hold talks or meet with Chinese leaders including President Hu Jintao and top legislator Wu Bangguo.Besides Beijing, he will visit southwest China's Chongqing municipality, southern city of Shenzhen and the nation's economic hub Shanghai.

TAIYUAN, Sept. 16 (Xinhua) -- China will flex its muscles to boost the low-carbon economy and green industry, in a bid to help upgrade the development mode of exports, said a senior government official Thursday.Gao Hucheng, Vice Minister of Commerce, said at an energy forum in Taiyuan, capital of Shanxi Province, that China has risen to become one of the world's largest exporters, though it is not a strong exporter yet, remaining at the low end of the global value chain.China's exports leaped in recent decades, mainly dependent upon low labor costs and sales of energy and resources.Further, China needs to put more efforts into producing high-end products and improving their quality through low-carbon and green technologies to expand the share of green products in exports, he said.The global financial crisis hurt the world economy and promoted nations to look to green industry for new growth, he said, and adding strategic new industries could be "a new growth point" for China's foreign trade.China would encourage major products, technologies and services in new energy and energy-saving sectors to tap the global market and support enterprises to invest abroad, Gao said, without giving details.Further, he said there was "no land boundary" in terms of low-carbon and green technology and expected international cooperation in this field.China was opposed to protectionist measures in any form, he added.

BEIJING, Aug. 28 (Xinhua) -- China's top legislature on Saturday approved an amendment to the Basic Law of the Hong Kong Special Administrative Region regarding the method of selecting Hong Kong's Chief Executive.The amendment to Annexes I to the Basic Law was approved at the bimonthly meeting of the Standing Committee of the National People's Congress (NPC), the top legislature, which ended Saturday.The NPC Standing Committee approved an examination report on an amendment to Annexes II of the Basic Law concerning the formation of the city's Legislative Council and agreed to file it on the record.The NPC Standing Committee's concluding meeting was presided over by Wu Bangguo, chairman of the NPC Standing Committee.The two amendments would take effect after the legislature's approval, Wu said.Wu said the two amendments had embodied the common opinions among the Hong Kong communities, gone through due procedures in the laws and was in accordance with interpretations and decisions of the NPC Standing Committee.The two amendments would help to maintain and promote the long-term prosperity and stability in Hong Kong, Wu said.The NPC Standing Committee members had called for unswervingly following the principle of "one country, two systems" and the Basic Law, to push forward a gradual promotion of Hong Kong's political system, Wu said.Legislators at the session also adopted the People's Mediation Law and the amendment to the Law on Officers in Reserve Forces.Further, President Hu Jintao signed decrees to publish the new Law, which will come into effect in 2011, and the amendment to the Law on Officers in Reserve Forces, which will be implemented after its being published.The legislature also ratified the International Convention for the Suppression of Acts of Nuclear Terrorism.During his speech at the concluding meeting, Wu also said the situation of China's economy was in a crucial stage from recovery to a steady growth.However, he noted that the work to maintain satisfactory growth was still an arduous job.Wu also said he appreciated the reports on cleaner production inspection and grain safety work, which were presented during the session.The NPC Standing Committee also appointed Chen Jianguo and Shi Zongyuan as vice chairmen of two special committees under the NPC.

BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

来源：资阳报