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News » China » China's foreign financial assets hit $5t |
- China's foreign financial assets hit $5t
- Ministry stresses logistics, consumption
- Internet legislation timely, necessary
- Funding needed for China's strategic industries: report
- Hu Jintao urges scientific innovation
- Top 10 domestic events of China in 2012
- China Voice: Internet legislation timely, necessary
- 4 new subway lines set to ease Beijing traffic
- China Exclusive: Grassroots Party organizations gain strength to serve people
- Faster reform helps China improve social equity
- At least 4 injured in ferry collision in Macao
- Snow brings joy to pandas
- Party organizations gain strength to serve people
- China's transport improves, faces pressure
- The man with hundreds of children
- Obama urges immediate action to resolve 'fiscal cliff'
- China to boost crackdown on IPR infringement in 2013
- 27 injured in ferry collision in Macao
- Country's 'plant clinics' aid farmers without chemicals
- Vice premier demands breaking administrative barriers in market
| China's foreign financial assets hit $5t Posted: 29 Dec 2012 12:16 PM PST BEIJING -- China's total foreign financial assets reached $5.04 trillion by the end of September, data released Friday by the State Administration of Foreign Exchange show. The country's net foreign financial assets amounted to $1.82 trillion by September, while total foreign financial liabilities stood at $3.22 trillion, according to China's international investment position published on the website of the SAFE. Meanwhile, foreign reserve assets, representing 67 percent of China's external financial assets, reached $3.37 trillion, the SAFE said. Of the total foreign financial assets, outbound direct investment, portfolio investments and other investments accounted for 8 percent, 5 percent and 20 percent of the share, respectively, the statement said. As for liabilities, foreign direct investment in China surpassed $1.95 trillion, or 61 percent of the country's external financial liabilities, according to the SAFE. The IIP is a financial statement showing the value and composition of a country's external financial assets and liabilities. Related Readings China's net foreign financial assets hit $1.77tChina's FDI continues losing streak FDI influx to Chinese financial organs slows  |
| Ministry stresses logistics, consumption Posted: 29 Dec 2012 12:16 PM PST BEIJING - China's Ministry of Commerce (MOC) said Saturday that it will put emphasis on raising logistics efficiency and expanding domestic consumption next year. "Implementing policies to promote the country's logistics development will be one of the ministry's major tasks next year," Deputy Minister of Commerce Gao Hucheng said at the closing ceremony of a two-day national commercial work conference concluding Saturday. The ministry will accelerate the development of modern logistics in an effort to safeguard the proper market functioning in 2013, according to a statement on the ministry's website. On Wednesday, the State Council, or China's cabinet, announced a range of measures to lower logistics costs and improve logistics efficiency, including cheaper electricity and water for agricultural product processing and circulation and lower fees at farm produce markets. The MOC said it will also improve the system for promoting domestic consumption and nurture new sources for consumption growth. It will guide popular consumption choices including credit consumption and online consumption, advocate green and cyclical consumption, as well as safeguard the safety of consumption. |
| Internet legislation timely, necessary Posted: 29 Dec 2012 12:16 PM PST BEIJING - China's latest legislation on Internet management complies with the development trend of the Internet and the aspirations of the people. The 12-article decision on strengthening online information protection, which has the same legal effect as a law, was adopted by lawmakers at a session of the Standing Committee of the National People's Congress on Friday. The Internet has exerted more and more important influence on promoting economic development, social progress, scientific innovation and convenient daily life. Such a decision is timely and necessary, for a lack of Internet law has made online information security a prominent problem, and some people are making use of the Internet to infringe upon the rights and interests of the nation and citizens. The decision meets the people's expectation of a law to regulate the online collection of personal information, and it is a demonstration of human rights protection in accordance with the law. The decision includes an identity management policy requiring Internet users to use their real names to identify themselves to service providers, including Internet or telecommunications operators. Network service providers and other government institutions and personnel as well as companies were banned to steal personal digital information and sell or provide the information to others in any illegal forms. The decision's core content is to establish an E-protection system for citizens' personal information, which boosts Internet management while ensuring the people's rights to privacy and free speech. With the new legal document, the State Council, or the Cabinet, should mete out supporting regulations and rules to ensure its implementation. Legislatures at all levels should also inspect the decision's implementation in time. Those who violate the decision should face punishment. |
| Funding needed for China's strategic industries: report Posted: 29 Dec 2012 12:16 PM PST BEIJING - China should provide special funding to support the development of its new strategic industries, according to a report released on Saturday. The report on "Internet of Things", compiled by the Guanghua School of Management under Peking University and other institutions, said that China's new strategic industries are facing difficulties to obtain financing in spite of their rapid development. The report suggested that the country should set up special industrial funds to support those industries, which will create a win-win situation. "The financing function of the capital market can become the catalyst for the accelerated growth of new strategic industries," it said. China's 12th Five-Year Program for the 2011-2015 period said the country would support seven new strategic industries, including new information technology, energy conservation and environmental protection, new energy, biology, new materials, high-end equipment manufacturing, and new-energy cars. |
| Hu Jintao urges scientific innovation Posted: 29 Dec 2012 12:16 PM PST BEIJING - Chinese President Hu Jintao has urged to boost China's overall national power through continuous scientific innovation. Hu made the remarks during an inspection tour in east China's Jiangsu Province from December 26 to 29. Scientific innovation is a strategic support for enhancing social productivity and the overall national strength, said Hu while visiting Jiangsu's enterprises and industrial parks. It's a must to improve independent innovation and grasp key technologies in order to transform the economic growth mode and accomplish the goals for national development, Hu said. He urged the officials and people in Jiangsu to insist on the path of scientific development under the leadership of CPC general secretary Xi Jinping, and take the lead to realize modernization and build into a well-off society in an all-round way. While visiting the Huaxi village, one of the most wealthy villages in China, Hu said the village set an example of the socialist modernization in China's rural areas. He encouraged heads of Huaxi to adhere to the spirits of the 18th National Congress of the Communist Party of China (CPC), and continue to innovate their development ideas so to contribute more experience to promoting the common prosperity of the urban and rural areas. Hu also visited a middle school in Taizhou city, where he planted a gingko, the "botanic giant panda." Hu told students in the school to learn more knowledge and virtues and exert their capabilities in China's future development. |
| Top 10 domestic events of China in 2012 Posted: 29 Dec 2012 12:16 PM PST BEIJING - Xinhua News Agency on Saturday unveiled its list of the year's 10 most attention-grabbing events in China. The events are as follows, in chronological order: -- China cuts 2012 GDP growth target At its annual session in March, the National People's Congress, China's parliament, adopted the government work report, in which the country lowered its GDP growth target to 7.5 percent this year after keeping it at around 8 percent for seven consecutive years. The change was made in the face of global turbulence and pressing domestic demand for economic restructuring. -- Medical reform meets three-year target The State Council in March issued an implementation plan for reforms in the health and medical care sector in the next three years. According to official statistics, as of the end of 2011 the basic medicare insurance system covered over 1.3 billion people in China, more than 95 percent of the total population, marking the realization of the previous three-year target for the 2009-2011 period to form a universal medicare system. -- Bo Xilai under investigation; Wang Lijun convicted The Central Committee of the Communist Party of China (CPC) on April 10 decided to suspend Bo Xilai's membership in the CPC Central Committee Political Bureau and the CPC Central Committee, as he was suspected of being involved in serious discipline violations in the cases of Wang Lijun and Bogu Kailai. The CPC Central Commission for Discipline Inspection put him under investigation. Bo was later expelled from the CPC and public office and the case was turned over to prosecutors for investigation. In August, Bogu Kailai was sentenced to death with a two-year reprieve for intentional homicide by the Hefei City Intermediate People's Court in Anhui Province. In September, Wang Lijun was sentenced to 15 years in prison for bending the law to selfish ends, defection, abuse of power and bribe-taking by the Chengdu City Intermediate People's Court. |
| China Voice: Internet legislation timely, necessary Posted: 29 Dec 2012 11:04 AM PST China's latest legislation on Internet management complies with the development trend of the Internet and the aspirations of the people.The decision meets the people's expectation of a law to regulate the online collection of personal information, and it is a demonstration of human rights protection in accordance with the law. |
| 4 new subway lines set to ease Beijing traffic Posted: 29 Dec 2012 04:05 AM PST Beijing is scheduled to put four subway lines into operation on Sunday, part of the city's efforts to expand rail transit to ease severe traffic congestion. |
| China Exclusive: Grassroots Party organizations gain strength to serve people Posted: 28 Dec 2012 10:05 PM PST Tang Qianyi, 77, looks happy and satisfied as she rests on a bed, enjoying the warmth and comfort of the welfare house where she lives. |
| Faster reform helps China improve social equity Posted: 29 Dec 2012 02:21 AM PST BEIJING - A new education policy issued early this month has enabled migrant worker Qin Lihong to make long-term plans for her family. Qin finally decided to settle down in Qingdao, East China's Shandong province, after living there for eight years, because the provincial government now allows children of migrant workers, like her daughter, to take the college entrance exam there even if they are not permanent residents. Since different provinces adopt different textbooks and teaching and exam systems, having to take the entrance exam outside the province where the students have studied may put them at a huge disadvantage. "Our household registrations are not in Qingdao, so our daughter would have had to take the exam in our hometown instead of here, which meant the whole family would have to move back for the exam," said the 32-year-old saleswoman at an electronic appliance store. STAY OR GO? Although Qin and her husband earn 5,000 yuan (794 U.S. dollars) per month on average, they like Qingdao, a prosperous coastal city. "That's why we were always wavering between deciding to go home or stay here," she said. Under the new policy, their daughter, who is currently in her fourth year of primary school, can continue her education in Qingdao without the trouble of transferring to another school. In Shandong schools, the number of children from migrant families totaled 745,100 last year, a year-on-year rise of 17 percent. "We adopted this policy hoping to improve the education equality among all students in the province," said Si Jingui, an official in charge of student affairs under Shandong's local education authority. |
| At least 4 injured in ferry collision in Macao Posted: 29 Dec 2012 02:21 AM PST MACAO - At least four injured in a ferry collision accident in one of Macao's outer harbor areas Saturday, according to sources from the local police authority. Related government departments has launched the emergency mechanism after a jet boat bound for Hong Kong knocked down a buoy at about 1:00 pm and caused a temporary closure of the seaway. |
| Posted: 29 Dec 2012 02:21 AM PST |
| Party organizations gain strength to serve people Posted: 29 Dec 2012 02:21 AM PST CHANGCHUN - Tang Qianyi, 77, looks happy and satisfied as she rests on a bed, enjoying the warmth and comfort of the welfare house where she lives. When her husband died several years ago, Tang, a resident of Changchun city, Jilin province, found herself an elderly widow relying on the minimum subsistence allowance and other people's help for a living. In June 2011, Jilin started a campaign asking local Party organizations to help the poor and disadvantaged. In response, the Party organization of Xixin district in Changchun helped get Tang into the Xixin Welfare House free of charge. "My life has been totally changed. The living conditions here are nice, and I have been gaining weight over the past year and a half in this welfare house," Tang said. The Communist Party of China (CPC) has been taking a range of measures to build up grassroots Party organizations to make them better serve the people. During the past two years, Wuding county in Southwest China's Yunnan province has invested more than 300,000 yuan ($48,125) in the establishment of a Party branch in Huapo Village. Hu Guifang, the Party branch secretary, said the Party branch's office building is among the most beautiful in the village, and villagers often gather there to communicate with officials. "I am always trying to think of ways to make the villagers richer. Our average per capita income has grown by over 2,000 yuan from last year," Hu said. More and more villagers are willing to become Party members, and two villagers have joined the Party this year, according to Hu. A report to the 18th National Congress of the CPC in November emphasized the importance of grassroots Party organizations, saying they should be strengthened to better push development, serve and unite the people and promote harmony. In Northeast China's Heilongjiang province, many officials and members of county and township Party committees are required to take temporary posts in village Party branches. This requirement is aimed at enhancing cooperation between Party organizations at different levels, as well as promoting the sharing of resources and better serving the people. During the past three years, Jilin province has built 900 Party member entrepreneurship training bases and 1,330 entrepreneurship practice bases. The province has also set up a 150 million-yuan entrepreneurship fund for Party members and offered a total of 1.3 billion yuan in small loans for entrepreneurship. Qu Wenfu, a villager in Yongji county, said thanks to the government support, many rural Party members have started their own businesses and helped promote the development of the rural economy. Many poor and unemployed people live in the Dingxiang Community in Hefei, capital of East China's Anhui province, and the community's Party organization has established a fund to help those in urgent need of economic support. Meanwhile, the community has also built a Party member service center covering more than 1,000 square meters. Residents there are encouraged to spend their spare time in the center, which is equipped with facilities such as a gym, chess and card rooms and multimedia classrooms. Since the beginning of this year, Jilin province has established 1,044 such community service centers to enrich the lives of residents. Huang Yanming, a member of the Standing Committee of the Jilin Provincial Committee of the CPC, said in the cause of promoting the development of grassroots Party organizations, the province has established clear goals and efficient measures and the overall strength of the grassroots Party organizations has been greatly improved. Related readings: Party policies help to improve working style Xi insists on multi-party cooperation CPC leaders show will to change Specialcoverage: |
| China's transport improves, faces pressure Posted: 29 Dec 2012 02:21 AM PST BEIJING - Some 87,000 kilometers of new highways opened in China in 2012, marking a record-high year-on-year growth rate, a senior transport official said Saturday. Minister of Transport Yang Chuantang said 11,000 km of the new highways are expressways. In addition to building new highways, China has also improved 194,000 km of rural roads this year, according to Yang. "China's transport sector has seen historic changes during the past decade," said Yang, adding that the total length of highways in operation is expected to reach 4.1 million km by the end of this year. However, Yang also said China's transport capacity remains insufficient, considering the booming demand created by the country's industrialization and urbanization. To meet mounting demand, Yang said China will continue to intensify transport facility construction and try to make these facilities more durable and reliable. China will also make efforts to improve transport facilities in rural areas as well as those in the country's central and western regions, he said. At the same time, China will improve road safety by taking measures to prevent serious transport accidents, Yang said. |
| The man with hundreds of children Posted: 29 Dec 2012 02:21 AM PST HANGZHOU - On a cold winter morning, Wang Wanlin, 68, sets off for a local police station to obtain a residence permit for "his son" Yao Bing, but Yao is not really his son. Wang heard that 16-year-old Yao Bing was wandering the streets of Hangzhou, capital of East China's Zhejiang province, after Yao's father died earlier this year. When his father died, Yao, who was born mentally handicapped and has debilitating back problems, lost the only family member who could care for him. "I found him on the street and brought him home. I give him food and shelter. I want to help him apply for his residence registration so he can request subsidies and medical insurance and become qualified for low-rent housing," Wang says. Wang has also found Yao a job in a barbershop, where he can do some simple work and make a bit of money. Yao's, however, is not an isolated case. He is the 507th young person Wang has helped in the past 33 years. The first act of kindness Wang still remembers the first child he helped in 1979. "It was a boy, 14 or 15. He was standing at a bus station, wearing thin rags and looking distracted, and he didn't seem to be waiting for a bus," Wang says. After enquiring, he learned that the young man from Jiangxi Province had been duped into a job as a miner in Zhejiang. He had escaped to Hangzhou by hiding in a truck carrying coal several days before meeting Wang. Wang took the young man, Feng Yuyin, home that night, and bought him a train ticket home to Zhejiang a few days later. "They are so young, but facing the crossroads of their lives. I don't want them to be corrupted by bad people, that's why I keep helping them," Wang says, adding that he hopes his help can keep them out of trouble. Staying in touch Wang recently received a call from an unknown number. When he answered, he was excited to learn it was Yu Yifeng, a young person he helped 18 years ago who now lives in Anhui Province. Children or teens, like Yu, that Wang has helped have shown their gratitude to Wang in various ways in recent years. Some pick up the phone, while others visit him from time to time. "Those are the happiest times of my life," Wang says. Wang lives in an old apartment in Hangzhou. With two rooms and a parlor, the most decent furniture he owns are two big beds, and he has offered them to three young people currently staying with him. Wang says when he was young, his own family couldn't surmount difficulties without the help of some kind people, as his family was very poor and hard to support, and that's why he helps others. "He (Wang Wanlin) taught us how to live, how to be a good man, to honor our parents, to love our family and jobs," said Zhou Guoqing, another person Wang has helped. Zhou says he sometimes volunteers to join Wang on visits to elderly communities, where he cuts hair and offers massages to people living there. "An envoy of God" Though hundreds call him "Papa Wang," he has no children of his own. "When kids aren't at home, the cat keeps me company. I never feel lonely, because I have children and grandchildren all around the country," Wang says as he eyes some shoes scattered on the floor of his apartment. Wang reads letters and looks at photos his "children" send him or tells others his stories when he misses the young people he's helped over the years. "I don't need anything in return, just a phone call from them to know that they are safe and sound," he added. "He is not a common person, but an envoy of God. Most of us cannot be as selfless as him, and may the old man enjoy the rest of his life and may those children treat him well," netizen "xiangtudouyiyangshenghuo" commented on Sina Weibo, China's Twitter. "Pingguoming," another Weibo user, noted that after media reported on Wang, most people in Hangzhou were moved by his actions. "He must be the most beautiful father in the world," "pingguoming" suggested. |
| Obama urges immediate action to resolve 'fiscal cliff' Posted: 29 Dec 2012 12:51 AM PST U.S. President Barack Obama Friday called on U.S. lawmakers to take "immediate action" to resolve the so-called "fiscal cliff." |
| China to boost crackdown on IPR infringement in 2013 Posted: 29 Dec 2012 12:51 AM PST The Ministry of Public Security is planning a new nationwide crackdown on fake and shoddy products in 2013 to boost intellectual property right (IPR) protection. |
| 27 injured in ferry collision in Macao Posted: 28 Dec 2012 11:37 PM PST Twenty seven people were injured in a ferry collision in Macao Outer Harbor Saturday, according to sources from the local police authority. |
| Country's 'plant clinics' aid farmers without chemicals Posted: 28 Dec 2012 11:52 PM PST China has recently introduced "plant clinics", a new way to prevent and control plant diseases and insect pests on farmland. |
| Vice premier demands breaking administrative barriers in market Posted: 28 Dec 2012 11:05 PM PST Chinese Vice Premier Li Keqiang has urged local governments to break down unreasonable administrative barriers to foster a unified market via reforms in the country's economic system. |
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