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BEIJING, Aug. 16 (Xinhua) -- China's top legislature will discuss the constitutional reform package of Hong Kong, which refers to the amendments to the methods of selecting the city's Chief Executive and forming the Legislative Council in 2012, during a bimonthly session scheduled from Aug. 23 to 28.The draft amendments to Annexes I to the Basic Law of the Hong Kong Special Administrative Region concerning the methods for the selection of the Chief Executive was submitted to the National People's Congress (NPC) Standing Committee for approval by Hong Kong Chief Executive Donald Tsang.The draft amendments to Annexes II concerning the formation of the city's Legislative Council was submitted to the NPC Standing Committee for the record.The Legislative Council of Hong Kong passed the draft amendments in June, before Donald Tsang gave his consent to draft amendments later in the month.According to Monday's Chairmen's Council of the NPC Standing Committee, presided over by NPC Standing Committee Chairman Wu Bangguo, lawmakers will also continue to deliberate draft amendments to the law on officers in reserve service, the draft law on mediation, as well as the draft law on the application of laws to civil relationships involving foreign interests.Lawmakers will also deliberate for the first time draft amendments to the law of deputies to the NPC and local People's Congresses, draft amendments to the Criminal Law, the draft law on intangible cultural heritages, and the draft revision of the soil and water conservation law.Also on the agenda of the upcoming session are discussions of the reports on implementation of the national economic and social development plan and budgets, among others.
BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.
PARIS, June 22 (Xinhua) -- The Paris-based Organization of Economic Cooperation and Development (OECD) on Tuesday welcomed China's announcement of increasing the exchange rate flexibility of its currency yuan.The move was helpful not only to China's sustainable growth but also the world economy, OECD Secretary-General Angel Gurria said."A combination of sustained fiscal expansion, continued structural reform and exchange rate flexibility, should provide a strong contribution from China to the achievement of a strong, sustained, and balanced growth of the world economy," Gurria said in a statement.Richard Herd, an economist heading the OECD's China and Asia Unit, said it was impossible to achieve yuan appreciation over one night."The policy is not a political gesture; the policy is a sound economics-based effort," Herd said in an interview with Xinhua, rebutting reports interpreting the statement as just lip service.China's central bank announced over the weekend it would push forward reform of the yuan exchange rate and ruled out a one-off revaluation.
BEIJING, June 3 (Xinhua) -- Senior Chinese leader Zhou Yongkang Friday urged increased supervision of police investigations and the reform of the penal system.Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks while attending a plenary meeting of the Political and Legal Affairs Commission of the CPC Central Committee in Beijing.Representatives of the Supreme People's Procuratorate reported to the meeting on their work to strengthen supervision on the use of investigative measures such as search, detention and freezing the suspect's asset by law-enforcement officers.Officials from the Supreme People's Court (SPC) also reported the progress made in a pilot program which intends to help courts at local levels to be more transparent and fair while meting out penalties.Zhou said these were vital to the building of a just and clean law-enforcement system and must be carefully implemented."Investigative and procuratorate authorities must attach equal importance to punishing crimes and safeguarding human rights, and to procedural justice and substantive justice, and must strictly abide by the law in enforcing investigative measures such as search, detention and seizing the suspect's asset," he said.He said the SPC's pilot program in roughly 120 local courts had promoted the fairness and transparency in handing out penalties, which had significantly reduced the rates of appeal, lodging a protest against a ruling and petition in criminal cases.Law enforcement agencies must push ahead the pilot program as one of their priorities, while in the meantime working to fully engage the public in the supervision of the handling of criminal cases, he said.Zhou, who also heads the Political and Legal Affairs Commission of the CPC Central Committee, called for more transparent law enforcement to ensure the public's right to know and supervise.He also said places for interrogation, custody, trial and detention must be under 24-hour audio and video recording.
BEIJING, Aug. 13 (Xinhua) -- Chinese military forces are rushing to prevent disease in mudslide-devastated Zhouqu County in northwest China's Gansu Province as high temperatures hit the area where at least 1,156 people were dead.While giving medical treatment to 12,000 local residents, soldiers have also sterilized an area of 128,000 square meters in the disaster-hit county, Wang Wenjie, a senior officer with the Lanzhou Military Area Command of the People's Liberation Army (PLA), said Friday.On Thursday, the Ministry of Health warned of disease-prevention challenges in Zhouqu, as dead bodies and dead animals entombed in the mud may easily decay in the hot weather.Although wells have been dug up to ensure water supply, the ministry said sterilization work is difficult as the water may be contaminated during transportation and storage.In order to ensure rescuers' health, more disinfectant and anti-sunstroke medicine has been dispatched to Zhouqu along with fresh clothing.While more equipment is en route to Zhouqu, Wang said more epidemic prevention workers are ready to go to Zhouqu if needed.Tuo Chengxiang, a senior officer with the Chinese People's Armed Police Force, said the main roads into the township are covered in sludge, hampering vehicular access to the area.A total of 6,281 soldiers and armed policemen are participating in the rescue and relief work in Zhouqu. They have saved 45 lives and delivered 808 tonnes of relief supplies.Besides personnel, 17 helicopters and aeroplanes and 35 rubber rafts have been mobilized to the disaster-hit area.Also on Friday, the PLA General Political Department issued a circular ordering soldiers and policemen in Zhouqu to lead the rescue and relief work while giving top priority to saving people's lives.