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BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

 BEIJING, Jan. 4 (Xinhua) -- Major Chinese lenders are expanding a preferential policy on house loan interests to cut the burden of the country's home buyers hit by the spreading financial crisis.     For individuals who bought houses on mortgage lending before Oct. 27, 2008 and have not paid off the loans, their credit interest rates could be reduced to 70 percent of the benchmark rate from the previous 85 percent, customer service staff of several banks told Xinhua on Sunday.     The discount will be available for Beijing, Shanghai and Qingdao clients of the China Construction Bank after their applications go through default record checks.     The Bank of China branch in Shanghai is also providing the preference but the Beijing branch keeps the rate unchanged.     The Industrial and Commercial Bank of China, the country's largest lender, and the Agricultural Bank of China are also making specific rules for similar rate discounts.     China's central bank announced in October it would reduce the lower limit of interest rates on individual house loans to 70 percent of the benchmark credit rate from 85 percent, starting from Oct. 27 last year.     The move was viewed as a stimulus to the flagging property market but it has been unclear whether house mortgage deals before that date can enjoy the favor.     Under the rate discount, home buyers with a 500,000-yuan (73,500 U.S. dollars) bank loan to be paid off within 20 years can save nearly 60,000 yuan of interest, analysts estimate.

BEIJING, Oct. 17 (Xinhua) -- Chinese Premier Wen Jiabao expounded on "The Scientific Outlook on Development" for Bruce Alberts, editor-in-chief of the Science Magazine of the United States on Sept. 30.     In the two-hour exclusive interview at the Zhongnanhai leadership compound, Wen said the first and foremost principle of the concept of scientific development is to put people first, to make every person attain full and harmonious development in an equal and free environment.     He said the comprehensive development came to the second, which means the integration of economic development with social development, the integration of economic reform with political reform, the integration of an opening-up and inclusive approach with independent innovation, and the integration of advanced civilization with traditional Chinese culture.     "Thirdly, we need to resolve the disparities, including rich-poor disparity, regional disparity and urban-rural disparity in our country's developmental process. " He added.     Sustainable development is also an important part of the concept, which aims at meeting the challenges of population, resources, and environmental protection faced by the 1.3 billion Chinese people in the modernization process. He said.     "We want to achieve sustainable development by adopting a resource-conserving and environment-friendly approach."     He also emphasized that these four goals could not be achieved without science and technology or without innovations.

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BEIJING, Dec. 7 (Xinhua) -- A Tibetan postwoman walking over 200,000 kilometers in ten years to send mails for mountain villagers, a Beijing Olympic champion and a rocket engineer have been selected as Chinese youth's role models in 2008, it was announced on Sunday.      Others honored as the top ten Outstanding Chinese Youth of the Year included two journalists, a worker at a joint venture auto company and a soldier soprano, the All-China Youth Federation, organizer of the annual activity, said in a brief statement.     Although the federation published little information of the ten winners on Sunday, their inspiring stories had been intensively reported through the media.     All of their stories are about selfless devotion to career, remarkable contribution to the well-being of fellow country people, and great inspiration.     Nyima Lamo, a 32-year-old Tibetan woman, has been working as a mailwoman for almost ten years for mountain-locked villages in Deqin County, southwest China's Yunnan Province, according to a report on the website of the China Central Television (CCTV).     Because poor road conditions made transportation impossible, Nyima Lamo has to walk on foot across deep valleys and snow-capped mountains, often risking her life, in order to send mails to villagers.     She would not take pregnancy leave even when she was nine months pregnant because she did not want to delay letters, the report said, adding that the total length of roads Nyima Lamo had walked was more than 200,000 km.     Zhao Haiqing's story touched millions of Chinese after his hometown in Beichuan County of Sichuan Province was deadly struck by an 8.0-magnitude earthquake on May 12.     The 36-year-old village official, also injured in the quake, led fellow villagers to rescue 67 people trapped under debris and transport over 2,100 injured people to hospitals. However, he lost six family members including his son and parents in the earthquake, said a CCTV report.     Defending champion Liu Chunhong broke all the world records in the women's 69 kilogram weightlifting category of the Beijing Olympic Games on Aug. 13, making herself a household name overnight.     Song Zhengyu, a 38-year-old rocket expert, also won nationwide respect for his great contribution to the development of the Long March family of rockets, which successfully sent the manned Shenzhou-7 spacecraft on September 25.     The ten people were selected out of 30 candidates throughout the nation. The awarding ceremony will be held in January 2009.

BEIJING, Oct. 19 (Xinhua) -- The Communist Party of China (CPC) issued a policy document on Sunday urging the improved social welfare enjoyed by the country's 900 million rural population.     The Decision on Major Issues Concerning the Advancement of Rural Reform and Development was approved by the CPC Central Committee on Oct. 12 in a plenary session.     RURAL CULTURE AND EDUCATION     The document urged for further cultural development in the country's rural areas, quoting that "rural cultural development is of great importance to building a new socialist countryside."     It demanded TV, radio and movies be more accessible in the rural areas, and more community cultural centers to be set up in the villages along with countryside libraries.     Cultural products based on rural lives and activities, which the farmers are willing to participate and have easy access to should be encouraged, the document said.     It urged urban organizations to go to the countryside to spread scientific and literacy knowledge and offer medical services to farmers, and help them break away from superstitions and build a harmonious society that advocated gender equality and honesty. Local farmers work in the fields in Wenxian County of Longnan City, northwest China's Gansu Province, on Oct. 19, 2008. Reconstruction on agriculture is accelerated in Longnan, the province's most suffered area in the May 12 earthquake that devastated China's southwest and northwest regions    The document also said efforts must be made to improve the education level in rural areas, especially for the left-behind children, those whose parents are both working in the cities, and children from economically-challenged families.     Professional trainings should be provided in townships to train farmers, while college students were encouraged to go the countryside to work.     Quality of teachers in the rural areas would be improved, along with their salaries and working conditions, the document said.     SOCIAL WELFARE AND RURAL INFRASTRUCTURE     In addition, efforts must be made to ensure all farmers can enjoy basic medicare service by sticking to the rural cooperative medical system, the document said.     It demanded every county and township should have its own medical institution, while villages in the rural areas were also encouraged to set up medical stations to provide "safe and inexpensive medical service" to farmers.     Endemic diseases, infectious diseases and disease that affects both human beings and livestock must be closely guarded against, with the focus on prevention of such illness.     The one-child policy must be adhered to in the countryside to retain a low birth rate in the rural areas, and to deal with a disproportional sex ratio, the document said.     It also demanded to accelerate the construction of a comprehensive social welfare system in the countryside.     A new old age insurance system in the rural areas should be established in the countryside with the premiums paid by the beneficiaries and the collective and government subsidies. Authorities should find ways to incorporate the system with the urban old-age insurance system, it said.     In addition, the livelihood of farmers whose land had been requisitioned must be guaranteed before the requisition procedure, the document said.     The rural minimum living allowance system must be perfected with larger subsidies from the central and provincial budget, to cover all applicable with improved benefits.     Living standards of those who receive five guarantees, namely food, clothing, medical care, housing and burial expenses provided by local governments for their lack of relatives and working abilities, should be in accordance with the average living standards of the neighborhood, the document demanded.     It also urged to improve the relief system to help farmers affected by natural disasters and boost social welfare for the old, the handicapped, the poor and orphans.     Prevention of disability and rehabilitation for the disabled must also be strengthened in the countryside, the document said.     The document highlighted the importance of infrastructure construction in the rural areas.     The committee vowed to ensure villagers to have safe drinking water within five years and townships be connected by cement roads by the end of 2010.     Efforts should be made to develop renewable energy resources, including methane, wind and solar energy, it said, adding Internet service would be accessible for more farmers.     POVERTY REDUCTION AND DISASTER RELIEF     The committee pledged to provide more low-income farmers with financial aid and give more assistance to people in remote areas, revolutionary bases, ethnic minority regions and poverty-stricken places.     International cooperation should be enhanced to fight poverty in the countryside, it read.     To install an upgraded natural disaster forecasting system and raise farmers' awareness of emergency response and relief was also one of the document's high points.     The capacity of forecasting disastrous weather, ecological disasters and monitoring earthquakes should be strengthened and more needs to be done to promote farmers' disaster prevention and relief awareness, it said.     The paper also set the direction for public facility safety standards, saying schools and hospital buildings should all be safe and up to construction standards.     All-out efforts should be made to restore the agriculture work in the area struck by the May 12 Sichuan earthquake and more measures need to be adopted to heal and improve the ecological conditions in the quake-hit region, it noted.     HARMONIOUS SOCIETY IN THE COUNTRYSIDE     It also emphasized the importance of maintaining a "harmonious" and "stable" environment in the countryside.     More channels should be opened to solicit farmers' opinions and address their complaints and problems, said the paper, adding leaders should pay frequent visits to farmers and solve villagers' problems at the grassroot level.     The committee further underscored ethnic relations. The equal, united, mutually-aided and harmonious ethnic relations should be consolidated and developed, it said.     Interference with village affairs by any religious groups or clans would be objected; evil cults in villages were prohibited and any mafia-style force would incur severe crackdown, it said. Local farmers work in the fields in Wenxian County of Longnan City, northwest China's Gansu Province, on Oct. 19, 2008. Reconstruction on agriculture is accelerated in Longnan, the province's most suffered area in the May 12 earthquake that devastated China's southwest and northwest regions

SHANGHAI, Nov. 13 (Xinhua) -- China's first local financial tribunal opened on Thursday in the People's Court of Shanghai Pudong New Area.     The tribunal, with three judges, will accept both individual and institutional civil cases, with no limit on claims, said a judicial official.     Lin Xiaojun, vice chief judge of the tribunal, said the global financial crisis has triggered an increase in financial disputes.     Financial innovation and opening-up had also seen a wider variety of cases, including finance product and company stock ownership disputes, said Lin.     Ding Shouxing, president of the People's Court of Shanghai Pudong New Area said the tribunal would also provide legal services for financial institutions, release case analyses for market information, and make proposals to prevent and resolve financial risks.     The tribunal would hire financial experts as assessors, and setup a consultative team to guarantee just, efficient, professional and clean hearings.     The Ministry of Justice has announced no plans to extend the tribunals to the other parts of the country.     Since 2006, the People's Court of Pudong New Area has heard 5,603 financial cases, including those relating to bank loans, credit cards, securities and assurance, involving more than 1.6 billion yuan (242 million U.S. dollars).     The Chinese government approved Pudong New Area, situated in eastern Shanghai, as a trial base for opening-up in 1990. Since then, 530 domestic and foreign financial institutions have been established there.

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Zhou Yongkang (2nd R, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the central government delegation, inspects a police van in Bose, southwest China's Guangxi Zhuang Autonomous Region, Dec. 13, 2008. Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions.     BEIJING, Dec. 13 (Xinhua) -- Senior Chinese leader Zhou Yongkang continued his visit in Bose City, south China's Guangxi Zhuang Autonomous Region, on Saturday as locals held celebrations for the 50th birthday of the autonomous region.     Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions. Zhou Yongkang (2nd L, front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and head of the central government delegation, talks with rural left-behind children, whose parents are both working in the cities, at a village in Bose, southwest China's Guangxi Zhuang Autonomous Region, Dec. 13, 2008. Zhou was in Guangxi to extend the central government's congratulations and good will to the people of Guangxi, one of China's five minority autonomous regions.     Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, on Saturday morning presented a floral basket to a monument in commemoration of revolutionary martyrs killed in the Bose Uprising in 1929.     The event marks the establishment of the CPC's armed forces in Guangxi to fight against local warlords, as well as the growth of the CPC's power at its early stage.     Following decades of construction and development, Bose has developed into an industrial center, producing aluminum and electricity.     During his visit to the Guangxi branch of the Aluminum Corporation of China Limited (CHALCO) in Bose, Zhou encouraged the company to research and develop more innovative technology to boost the development of the company and Guangxi's economy.     Zhou also inspected a water control project in Bose, which was built two years ago for the purpose of flood control, irrigation and electricity production.     Zhou has been staying in Guangxi since Wednesday when he led the central government delegation to attend the celebrations marking the 50th founding anniversary of the minority autonomous region.     The autonomous region was founded on Dec. 11, 1958 and has 12 ethnic groups. The total population in Guangxi by the end of 2007 was more than 50 million, one-third are of the Zhuang ethnic minority.

BEIJING, Jan. 3 (Xinhua) -- For many Chinese who want to nab railway tickets home for the annual Spring Festival migration, the government's promise of having a better system by 2012 is just a distant hope.     Starting Friday, the first day to book tickets for the travel rush expected to last from Jan. 11 to Feb. 28, long queues appeared at ticket booths in almost every major railway hub.     In Wuhan, college students were first hit by the rush, as many schools' winter break starts from Jan. 10 to 17.     As more than 70 percent of the 1 million resident students there were expected to go home by train, local railway authorities have set up ticket agents on campus, opened more ticket booths for students at stations and offered special trains for students.     But many still found it difficult to get tickets, especially to Urumqi, Qingdao, Jinan, Harbin, Zhanjiang and Nanning. At the Wuchang Railway Station alone, more than 60,000 tickets were sold on Friday.     In Shanghai, police and security officers were put 24-hour on guard to maintain order and prevent accidents. They gave each passenger a number and assigned them to different waiting lines.     At the Beijing West Railway Station, 15 temporary ticket booths have been opened. To keep the lines at no more than 20 people as required by the Railway Ministry, Beijing railway authority set up410 ticket booths at the main Beijing Railway Station and the Beijing West Railway Station. Tickets will be sold around the clock.     Deputy General Manager of the Guangzhou Railway Group Cao Jianguo asked passengers to "be patient" and "try again" with the booking telephone hot line 96020088 in Guangdong.     Nine stations in the southern province have been networked this year with the telephone hotline, which means passengers can pick up or cancel reserved tickets much more easily by showing identification.     At Guangzhou railway stations, the Guangzhou Command College of Armed Police was mobilized at seven ticket booths. They were on duty during last year's Spring Festival rush, which was aggravated by unusual snowstorms.     The Railway Ministry expects 188 million people to travel during the coming travel rush, up 8 percent from last year, with daily traffic expected to hit 4.7 million people.     Beijing, Guangzhou, Shanghai and Hangzhou are the "most bustling hubs" before the Spring Festival, which falls on Jan. 26,so railway authorities have added 319 temporary express passengers trains this year.     Despite these efforts, many passengers still feared that they might not be able to get tickets to get home in time.     Qiao Kejiao, a Beijing hospital clerk, said she might resort to being duty on Lunar New Year Eve and traveling on the second day, when traffic would be lighter.     In a work meeting that closed on Thursday, Railway Minister LiuZhijun attributed the annual travel ordeal to inadequate rail networks. The work meeting decided that speeding up railway construction and securing railway transportation were the ministry's priority tasks in 2009.     Liu foresaw a "historic change" in 2012 when intensive investment would extend total track mileage to 110,000 km, including 13,000 km of passenger lines on which trains could run between 200 to 350 km per hour.     The scenario does not offer any immediate comfort. Associate senior editor of the Study Times, Deng Yuwen, said the real solution was not in hardware improvement such as more tracks but in management and service.     In a column in the Shanghai-based Oriental Morning Post on Saturday, he said that the per capita railway mileage in China was only 6 cm, shorter than a cigarette.     "Even after the mileage is extended from the current 78,000 km to 110,000 km, per capita rail lines in China will only be 8.5 cm. Can we really say good-bye to ticket shortages by then?"     The real culprit, he wrote, was insufficient capacity. To improve the capacity, foreign and private capital should be introduced to break the government monopoly in railway investment, he said.     The ticket distribution system should also be streamlined to avoid the "gray zone" where so-called "contract units" such as tourism agencies and outlets take advantage of contacts to hoard tickets that are then re-sold for illegal profits.     Ticket purchases under real names, a proposal that has been repeatedly rejected by the railway authorities, could help improve management and services, he said.

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Chinese Vice President Xi Jinping (2nd L) addressed a meeting at which a group of heads of agencies of the Communist Party of China Central Committee and the central government discussed how to implement the Scientific Outlook on Development, in Beijing, capital of China, Dec. 12, 2008    BEIJING, Dec. 12 (Xinhua) -- Chinese Vice President Xi Jinping on Friday urged Communist Party of China (CPC) cadres to combine the spirit of "scientific development" with the nation's endeavors to deal with current economic problems.     Xi addressed a meeting in Beijing, at which a group of heads of agencies of the CPC Central Committee and the central government discussed how to implement the Scientific Outlook on Development.     Xi said the ongoing campaign to educate Party cadres on the Scientific Outlook on Development should focus on how to maintain a steady economic growth, despite global economic woes, through more scientific and efficient work.     He said this was desirable because the ultimate goal of the campaign was that China achieve sustainable, broad-based development under the leadership of the CPC.     The Scientific Outlook on Development represents important guiding principles for China's economic and social development. It was initiated by the CPC in 2003 and written into the CPC's constitution during the 17th National Congress of the Party in 2007.     The principles emphasize a people-first approach, while requiring comprehensive and sustainable development with a dual emphasis on speed and quality.     In September, the CPC launched an 18-month educational campaign, asking all Party cadres and officials to study the principles while applying them in their own work.     Xi Jinping said the annual Central Economic Work Conference, which concluded on Wednesday, had made a full plan on maintaining stable and healthy growth next year through domestic demand expansion and economic restructuring.     He said central government organs, often as key policy makers, should check whether shortcomings in their own work had hindered the implementation of the key policies.     "At present the top task for us is to identify and solve those shortcomings that could have negative impacts on economic growth, vital interest of the people and social stability," he said.

BEIJING, Nov. 17 (Xinhua) -- Accelerating reconstruction work is the top priority in quake-affected areas, said Chinese Premier Wen Jiabao during his visit over the weekend to Sichuan Province.     He told villagers in Anxian County on Sunday that the government would strengthen support to farmers to help them rebuild their houses within two years, instead of three years as was the original schedule.     The construction of public facilities, including schools, kindergartens and hospitals should also be quickened, Wen added.     "We can achieve that," he said.     When visited students and teachers of the Beichuan Middle School on Saturday. The school has been operating in a temporary shelter. He told students who were injured in the quake, never to give up.     "I hope you will be optimistic against all the difficulties," When said.     He also listened to a report on the plan to rebuild Beichuan County as it was destroyed by the quake.     "The reconstruction work for the new county should be based on advice from experts and the public," When said.     He also visited the Sichuan Jiuzhou Electric Group, which has resumed production after the quake, and the Pangang Group Sichuan Chengcheng Special Steel Cooperation.     When said reconstruction work should not only rely on government investment.     "Private companies should be motivated to invest in post-quake reconstruction projects," he said.     It's Wen's sixth visit to the area after the 8.0-magnitude quake stuck on May 12 killing nearly 70,000 people. More than 17,000 are still missing.