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BEIJING, Jan. 27 (Xinhua) -- China's banking regulator asked lenders to keep credit growth at reasonable pace in 2010 and vowed to tighten supervision on property loans amid increasing risk of asset bubbles."Banks should reasonably control new loans, better manage the pace and try to achieve balanced issuance and steady growth of credit quarter by quarter, " Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC) at a meeting on Tuesday.Despite regulator's repeated warnings on risks hidden from the record 9.6 trillion yuan of new loans last year, banks rushed to lend more than 1 trillion yuan in the first month of this year in fear of the expected tighter loan policy in 2010 after the credit binge last year as media reported.An official with the Industrial and Commercial Bank of China told Xinhua the credit growth in the first ten days of January was a little bit fast, and turned smooth in the last days of the month.According to the statement posted on CBRC's Web site on Wednesday, Liu said the regulator will pay special attention to the changes in the property market, strictly enforce relevant policy, and beef up the "window guidance" over credit to the real estate sector.But he restated banks should continue to support first-time home buyers.Liu also told banks to continue lending to fund rural development, small business, consumer spending and environmental protection.He said banks should keep adequate capital and heed of resurgence of bad loans.

LONGYAN, Fujian, Feb. 13 (Xinhua) -- Chinese President Hu Jintao on Saturday promised favorable polices to support and accelerate the development of old revolutionary bases."It is an important duty of the Party and government to help old revolutionary bases speed up development and improve people's living standard," Hu said during a two-day trip to Longyan City in east China's Fujian Province just ahead of the Spring Festival, or China's Lunar New Year, which falls on Sunday this year.Chinese President Hu Jintao (Front) dances with residents at Wulong Village in Gutian Town of Shanghang County under Longyan City, southeast China's Fujian Province, Feb. 13, 2010. President Hu made an inspection tour in Fujian on Feb. 12-13"In the future, we will continue to implement every favorable policy to help promote the sound and rapid development in the old revolutionary bases," Hu said.Hu, also general secretary of the Communist Party of China (CPC) Central Committee, visited Gutian Village in Shanghang County in the drizzle Saturday morning.Gutian Meeting, which had a milestone significance to the history of the CPC and the army, was convened in 1929 in the village."After ten years, I've come to Gutian again," said Hu, who last visited the village in 1999. "I feel happy from my deep heart to see the significant changes that have taken place here and the improved living standards of the villagers."Chinese President Hu Jintao (4th R) prepares special local New Year food with family members of Zhang Tangmei at Wulong Village in Gutian Town of Shanghang County under Longyan City, southeast China's Fujian Province, Feb. 13, 2010.He added that during the revolutionary era, people in the old revolutionary bases made great sacrifice and contribution to the victory of China's revolutionary cause and the founding of New China.He expressed hope that the villagers would continue to uphold the spirits of hard work and plain living so as to create a better life with their own hands.Hu visited a museum in memory of the meeting. At the office venue where Comrade Mao Zedong once worked, he stood still for quite a long time, to review the spirit of the Gutian Meeting and recall the merits and achievements made by the older generations of revolutionists.Chinese President Hu Jintao (3rd R) prepares special local New Year food with family members of Zhang Tangmei at Wulong Village in Gutian Town of Shanghang County under Longyan City, southeast China's Fujian Province, Feb. 13, 2010Hu also met with some local veterans, asking about their health and living conditions and greeting them on behalf of the CPC Central Committee.He added that currently, the whole Party and the whole nation were making great efforts to build a moderately prosperous society in all aspects. He urged the inheritance of the spirit of Gutian Meeting and more efforts in building the Party and the nation.Hu also visited Wulong Village near the venue of the Gutian Meeting. At the home of 95-year-old villager Zhang Tangmei, Hu extended new year's greetings to her and prepared special local new year food with her family.While making the glutinous rice with sweet Chinese dates, Hu asked the family members' life and work and wished them better life in the new year.At a square in front of the Wulong Village, Hu also joined the locals in dancing.

CHICAGO, March 17 (Xinhua) -- A stronger RMB would not be a tonic for the U.S. economy or manufacturing and it would be a huge mistake to raise tariffs on imports from China to force a change in the yuan, says a U.S. trade expert on Tuesday.Daniel Griswold is director of the Center for Trade Policy Studies at the Cato Institute, a non-profit public policy research foundation headquartered in Washington, D.C. He is also the author of a new book, Mad about Trade: Why Main Street America Should Embrace Globalization.The trade expert told Xinhua during an exclusive interview, " China has been moving in the right direction since 2005 by allowing the currency to appreciate. Threats from the U.S. government actually make it more difficult for the Chinese government to resume appreciation because it would look as though Beijing was giving in to foreign pressure."Griswold pointed out that a stronger yuan would not be a tonic for the U.S. economy or manufacturing. "China would remain competitive in a broad range of manufactured products even if the yuan were 25 percent higher. The dollar depreciated sharply against the currencies of Canada and the Eruozone after 2002, yet our bilateral deficit with both those regions continued to grow," he added.New York Times' Nobel laureate economist, Paul Krugman, recommended in his latest column that the U.S. impose a 25 percent tariff on Chinese imports unless China appreciates its currency Renminbi. Griswold considers it a huge mistake to raise tariffs on imports from China to force a change in the yuan.Regarding President Barack Obama's new export push to double the U.S. export in the next five years, Griswold believes this goal will raise false expectations.He noted: "The goal will be difficult to realize. It hasn't been done since the 1970s, and that was driven in large part by inflation. It also depends on robust growth abroad, which is beyond the control of even this president. Faster export growth would be good for the U.S. economy, but it will not put much of a dent in high unemployment."When asked what the U.S. government should do to increase its export, the trade expert advised, "the single best policy to promote exports would be for the U.S. government to set a good example by resisting protectionism in our own market."He further explained, "U.S. companies are currently facing sanctions from Mexico, Brazil and other countries because we have failed to live up to our commitments in the WTO and the North American Free Trade Agreement. We are losing export opportunities abroad because Congress has failed to enact trade agreements with South Korea and Colombia, and the administration has failed to exercise leadership in WTO negotiations."In January the U.S. government data showed that the gap between what Americans sell abroad and what they import narrowed unexpectedly. While the usual crowd hailed it as an "improvement," Griswold believes that the numbers point to the slow growth of demand at home and abroad.He said: "We shouldn't read too much into the monthly trade numbers. The smaller-than-expected trade deficit in January could be a warning sign that the economic recovery remains sluggish. Exports were down, and imports down even further."When commenting on the U.S.-China trade relations, Griswold said, "U.S.-China relations remain fundamentally sound. Our commercial relationship is mutually beneficial and among the most important in the world."He further remarked, "American families benefit from affordable consumer products from China, while U.S. companies benefit from exports to China. And all Americans benefit from lower interest rates from Chinese investment in U.S. Treasury bonds." He noted that "the confrontational attitude of the Obama administration is driven almost entirely by domestic politics."Griswold's new book, Mad about Trade: Why Main Street America Should Embrace Globalization, is a spirited defense of free trade which tells the underreported story of how a more global U.S. economy has created better jobs and higher living standards for American workers.Since joining Cato in 1997, Mr. Griswold has authored major studies on globalization, trade, and immigration. He's written articles for major newspapers, appeared on CNBC, C-SPAN, CNN, PBS, and Fox News, and testified before House and Senate committees.

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BEIJING, Feb. 27 (Xinhua) -- A severe drought has affected 69.6 million Mu (about 4.64 million hectares) of arable land and left 12.7 million people and 8.4 million livestock short of drinking water, said China's drought relief authorities Saturday.The figures nearly doubled the average level for corresponding periods over the past years, according to the State Flood Control and Drought Relief Headquarters.The drought had caused huge losses and serious drinking water shortages in the affected areas, said Liu Ning, vice minister of water resources.Local governments have put 750 million yuan (110 million U.S. dollars) and mobilized nearly 9 million people to cope with the draught, which temporarily helped 7.4 million people and 3.6 million livestock out of drinking water shortages, Liu said.He called for prompt allocation of more relief funds from the central government and more efforts to ensure drinking water safety and spring irrigation.The dry spell started last autumn and has hit southwest, south and part of north China. The seriousness, duration, areas affected and losses are rarely seen in history, said the Ministry of Civil Affairs Friday.Severe drought would continue to ravage the already hard-stricken southwest China as no major rainfalls are expected in the next three days, the China Meteorological Administration warned Saturday.

BEIJING, Feb. 8 (Xinhua) -- The Communist Party of China (CPC) Central Committee Monday called on it members to strengthen learning Marxist theories and various fields of knowledge as required by the country's modernization drive.A circular issued by the General Office of the CPC Central Committee said, "Be it a country, a nation or a party, if it does not strengthen study or enhance the learning ability, it will certainly be left behind by the time."It said as China has entered a new development stage, new problems will constantly emerge and "there are many things that we are not familiar with, or do not understand."It called on CPC members to deeply learn the Marxist theories, the Party's guideline principles, policies, history, and the country's laws and regulations, as well as various kinds of knowledge that would be useful in the modernization drive.It said efforts should be made to study the Scientific Outlook on Development, the core of policies of the leadership which has been enshrined in the Party's constitution and stresses a comprehensive, balanced and sustainable development that is people-oriented.

ZHANGZHOU, Fujian, Feb. 12 (Xinhua) -- President Hu Jintao on Friday visited some Taiwan businesses in Zhangzhou of southeastern Fujian Province ahead of the Spring Festival to extend New Year greetings.Hu, also general secretary of the Communist Party of China (CPC) Central Committee, visited a business park for Taiwan farmers in Zhangpu county of Zhangzhou City. The park, set up in 2006, houses more than 70 Taiwan-funded agricultural firms."We will try our best in everything that will benefit the Taiwan compatriots, and we will honor our words," Hu told the Taiwan business people.He said the mainland and Taiwan were negotiating on the cross-Strait Economic Cooperation Framework Agreement. "Its' something that will help promote cross-Strait economic cooperation and bring win-win results. During the negotiation process, we will put into full consideration the interests of Taiwan compatriots, especially those of farmers."Fujian, which faces Taiwan across the sea, has won the central government support in accelerating the construction of an economic zone on the western side of the Taiwan Strait, Hu said, adding the economic zone would provide a new platform and opportunities for cross-Strait exchanges and cooperation.Hu expressed hope that more Taiwan compatriots would be dedicated to promoting the peaceful development of cross-Strait relations and work with the mainland people for an even brighter future of the ties.Huang Ruei-bao, chairman of the Zhangzhou Jiuh-Bao Biotechnology Inc., an orchid grower, said investment environment in Zhangzhou was quite favorable and he planned to further expand his flower cultivating base here.The Spring Festival, or the Chinese lunar new year, is the most important holiday for the Chinese, which falls on Feb. 14 this year.Chinese President Hu Jintao (2nd L front), who is also general secretary of the Central Committee of the Communist Party of China (CPC), talks with a businessman (1st R) from China's Taiwan Province, at the Zhangpu Pioneer Park of Taiwan farmers in Zhangzhou, east China's Fujian Province, Feb. 12, 2010. Chinese President Hu Jintao (2nd L), who is also general secretary of the Central Committee of the Communist Party of China (CPC), talks with a businessman (1st L) from China's Taiwan Province, at the Zhangpu Pioneer Park of Taiwan farmers in Zhangzhou, east China's Fujian Province, Feb. 12, 2010.

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SHANGHAI, Jan. 15 (Xinhua) -- Chinese President Hu Jintao Friday called on the Chinese people to pool their strength and resources to make sure the Shanghai World Expo a success.     With just 106 days to go before the Expo opening on May 1, Hu visited the Expo site Friday during an inspection tour in Shanghai.     "Hosting the World Expo is not only a significant event of Shanghai, but also of the whole nation," he said, noting it was both the responsibility of Shanghai and the whole country to hold a successful Expo. Hu Jintao (L front), general secretary of the Central Committee of the Communist Party of China, Chinese president and chairman of the Central Military Commission, shakes hands with workers and personnel who work for the construction of the Shanghai World Expo park in Shanghai, east China, Jan. 15, 2010. Hu Jintao paid a visit here to inspect the preparation of Shanghai World Expo on Jan. 15    He urged Shanghai to make "all-out efforts" to efficiently complete the preparations and be a good host.     He asked central government departments and local governments to take initiative and make concerted efforts in supporting the event. Hu Jintao (C), general secretary of the Central Committee of the Communist Party of China, Chinese president and chairman of the Central Military Commission, inspects the under-construction World Expo park in Shanghai, east China, Jan. 15, 2010. The Expo's organizing committee should enhance its leading role and supervision to push forward relevant preparatory work orderly, he said.     Hu put forward six requirements on the Expo's preparatory work:     - To ensure the Expo site's infrastructure building and exhibition arrangements be completed on time;     - To ensure sound service and logistics;     - Security should be fully guaranteed;     - Foreign affairs work, including receptions of international guests, must be well handled;     - To ensure efficient and effective publicity work;     - To create a civilized, happy and peaceful atmosphere.     Hu said though the Expo was a big challenge, he believed it would be a "successful, brilliant and memorable" event with the support of the Chinese people, especially the contributions of Shanghai officials and residents.     The Shanghai World Expo, which is expected to receive 70 million visitors, will last from May 1 to Oct. 31.     So far, 35 of the 42 self-built foreign pavilions have started interior decoration and exhibition arrangement, and 11 joint pavilions have been completed.

BEIJING, March 8 (Xinhua) -- China's Minister of Science and Technology Wan Gang said here on Monday a lot of new and high technologies will be applied to the Shanghai World Expo, which is designed to highlight the theme of "Better City, Better Life" with the latest technologies.Clean energy will be used to supply electricity for the six-month exposition beginning May 1, said the minister at a press conference on the sidelines of the annual session of the country's top advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC).The 5.8-square kilometer exposition site will become the venue for the largest-scale solar energy application project as 4.6-megawatt solar power generators will be put into operation, said Wan, who is also vice chairman of the CPPCC National Committee. Wan Gang, vice-chairperson of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks during a news conference held by the Third Session of the 11th National Committee of the CPPCC on the 2010 Shanghai World Expo in Beijing, capital of China, March 8, 2010. A group of 34 3-megawatt wind power generating units are under construction and will supply clean energy for the event."After the Beijing 2008 Olympic Games, the Shanghai Expo will continue to have a zero-emission of vehicles in the expo site with the use of various kinds of electricity-driven cars," said Wan.In the landmark four pavilions along the Central Axis of the expo site, LED lamps account for more than 80 percent of the lighting system, the minister said, adding that devices have been installed in the four permanent buildings to recover all rainwater.The minister, who was born in Shanghai in 1952, said he hoped the high technologies to be showed and applied during the exposition could be applied to the daily life of every one and help Shanghai boost industrial development and restructuring."As science workers, we will take the exposition as a good opportunity to learn the R&D ideas of other countries and the latest technologies from them," he said.

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BEIJING, Jan. 21 (Xinhua) -- China's yuan-denominated individual home mortgage lending rose 1.4 trillion yuan (204.98 billion U.S. dollars) in 2009, up 47.9 percent from the previous year, said a report issued by the People's Bank of China, the central bank, on Wednesday.The growth rate was 37.4 percentage points higher than the previous year, said the report on China's investment flow in 2009.Meanwhile, the yuan-denominated property development lending gained 576.4 billion yuan in 2009, up 30.7 percent year on year, and the growth rate was 20.4 percentage points more than the previous year, the report said.The total mid-term and long-term loans in foreign and domestic currency expanded 7.1 trillion yuan in 2009, up 43.5 percent from the previous year, and the growth rate was 23.4 percentage points more than the previous year.The short-term loans in foreign and domestic currency expanded 2.3 trillion yuan, up 758.5 billion yuan from the same period last year.Industrial mid-term and long-term loans in foreign and domestic currency added 1 trillion yuan among China's major financial institutions, up 26 percent from the previous year.Infrastructure mid-term and long-term loans in foreign and domestic currency expanded 2.5 trillion yuan, up 43 percent from the same period last year, according to the report.The central bank said on Jan. 15 that China's new yuan-denominated lending in 2009 hit a record 9.59 trillion yuan (1.4 trillion U.S. dollars), almost double that of the previous year.

MOSCOW, Jan. 16 (Xinhua) -- An assembly line of Chinese automaker Geely was officially launched in Russia's Caucasus republic of Karachay-Cherkessia, local media reported Saturday.     Russian car company Derways has started body welding and other assembling work of Geely-brand vehicles on Friday, according to Russian state TV channel Russia-24.     Some 1,100 units were expected to be produced by the end of February, the first batch of which will be delivered to Moscow by Jan. 20. The annual production of Geely will be no lower than 12,000 units.     Besides Geely, Derways was also scheduled to manufacture for other Chinese brands such as Li Fan, Great Wall Motors, Chery and Haima. The total annual output of the Derways company was estimated to reach 100,000 units.     Local residents could enjoy price discounts when purchasing these cars, according to the company, which also foresees a great demand of Chinese vehicles on Russian market.