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.
YICHANG, Hubei, Nov. 7 (Xinhua) -- The Three Gorges Project has completed trial water storage operations for the year, with the water level in the reservoir exceeding 172 meters. As of Tuesday, the water level had risen 27.3 m since Sept. 28,when this year's storage plan began, said the developer of the massive water conservancy project, the China Three Gorges Project Corp. (CTGPC) on Friday. The water-raising measures ended on Tuesday when the water behind the dam reached 172.3 m and the reservoir held more than 19.3 billion cubic meters of water. The reservoir then began to discharge water. Generally speaking, the trial operation, which is a test of quality, went well. The structure, generators and shipping locks were all in normal condition and the water quality was not affected, said a CTGPC statement. The water level is expected to reach 175 m in 2009 when the Three Gorges project is completed. At 156 m, the target level for the second phase, the reservoir could be fully functional in terms of flood control, power generation and navigation control. Launched in 1993, construction of the gigantic concrete structure of the dam was completed and began to store water in May2006. Previously, the reservoir's temporary cofferdams held water at a depth of 135 to 139 m. The Three Gorges Project, with a budget equivalent to 22.5 billion U.S. dollars, is a multi-functional water control system built at the upper and middle reaches of the Yangtze River. Its main works are a dam, a five-tier ship lock and 26 hydropower turbo-generators. The dam will have 14 turbo-generators on the left bank and 12 on the right. Combined, they will produce 84.7 billion kw of electricity annually. There are plans to add six more turbines by 2012. As of June, 1.24 million residents had been relocated to make way for the dam construction.
BEIJING, Dec. 17 (Xinhua) -- Senior Party leader Zhou Yongkang Wednesday asked all law enforcement organs to maintain social stability through careful work at the grassroots level. It will be an important task for all law enforcement organs to create a peaceful social environment next year to welcome the 60thanniversary of the founding of the People's Republic of China, said Zhou, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, at a conference of law enforcement officials nationwide. Law enforcement organs should try their best to find out and properly solve the problems at the grassroots level so as to prevent mass incidents from happening, he said. He also asked them to prevent and crack down upon serious crimes that threatened people's life and property. Law enforcement organs should also contribute to the country's economic work through effective implementation of laws, he said. They were asked to effectively handle cases of violation of economic laws and work to maintain the market order. Next year the country will push forwards the reform on its judicial system, such as to improve supervision on law enforcement organs, Zhou said. He vowed to fight corruption in law enforcement organs.
BEIJING, Jan. 4 (Xinhua) -- Chinese President Hu Jintao on Sunday spoke over telephone with his U.S. counterpart George W. Bush about bilateral relations and major international issues of common concern. The two leaders exchanged congratulations on achievements that have been made in the development of bilateral relations since the forging of diplomatic ties between China and the U.S. 30 years ago. They expressed the hope that a series of events to mark the 30th anniversary of the establishment of diplomatic relations would be successful. President Hu agreed with Bush's positive remarks on China-U.S. relations and hailed his efforts to develop a constructive and cooperative Sino-U.S. relationship. In the new historical period of time, China and the United States, through their joint efforts, will surely be able to stay firm in the general direction of the China-U.S. constructive and cooperative relationship and promote sound, stable, all-round and in-depth development of bilateral ties, Hu noted. Bush, for his part, said China and the United States have engaged in good cooperation over the past 30 years which deserves congratulation. The U.S. president said he was pleased that he has conducted satisfactory cooperation with President Hu during his presidency. On the Middle East situation, Hu said China is seriously concerned about escalation of the Palestinian-Israeli conflict and worsening of the volatile situation in the Middle East and is deeply worried about the humanitarian crisis taking place in the Gaza Strip. China calls on all the parties concerned to stop military operation and armed conflicts, promote the relaxation of tension in the region and create conditions for a solution to the conflict by political means, Hu said.
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.
UNITED NATIONS, Nov. 14 (Xinhua) -- China called on the international community here on Friday to honor its commitment of aid to Iraq so as to help speed up its process of reconstruction and development. La Yuefan, minister counselor from the Chinese mission to the United Nations, said at the Security Council meeting on the situation concerning Iraq that for progress in security and political fields to be effectively consolidated, economic and social reconstruction must also move ahead. In this regard, "we call upon the international community to truly honor its commitment of aid to Iraq by helping Iraq speed up its process of reconstruction and development," La said, adding that China supports the meeting of foreign ministers of neighboring countries and other mechanisms playing a bigger role. China also hopes that the Iraqi government will continue to lead all factions to agree on the common vision for the future of the country by placing national interests above everything else and strengthening dialogue and unity, La said. "We encourage UNAMI (the United Nations Assistance Mission for Iraq) to continue its positive role in this regard. We believe it is essential to promote political dialogue and national reconciliation of Iraq in order to consolidate the progress already achieved in various fields," the Chinese diplomat said. Noting that right now the process of peace and recovery in Iraqis at a critical juncture, La said China welcomes the continuous progress achieved by Iraq in the political, security and recovery fields. However, he pointed out that the overall security situation in Iraq remained fragile. "We are especially concerned about the large number of civilian casualties caused by military operations and violent attacks," La said. "We call once again upon the parties concerned to do everything possible to avoid civilian casualties while carrying out military operations," he said.
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BEIJING, Nov. 5 (Xinhua) -- Agreements on direct flights and shipping, signed on Tuesday in Taipei, are drawing strong interest from airlines and shipping companies from the mainland and Taiwan. "Regular charter flights, instead of flights only weekends and festivals, were our long-term expectations," said Liu Shaoyong, the general manager of mainland-based China Southern Airlines. "Direct air routes are very good for our business." A flight from the mainland to Taiwan via Hong Kong under the current arrangement takes two hours and 42 minutes and burns 16 tonnes of fuel. Under the new arrangement, flights will take 69 minutes and burn 7.3 tonnes of fuel. "Less travel time and expense benefits both passengers and airlines," Liu said. Wei Hsing-Hsiung, chairman of the board of Taiwan-based China Airlines, was glad to see the number of passenger charter flights increase from 36 on weekends to 108 a week. "We have profits of about 1.5 million U.S. dollars from weekend charter flights. The figure is likely to reach 5 million dollars due to more flights, while the cost might fall by 20 percent as the route is shorter," he said. The new agreement only opened one direct air route, between Shanghai and Taipei. Xiamen, the coastal city in southeastern Fujian Province directly opposite to Taiwan, was not included. Mainland's Association for Relations Across the Taiwan Straits (ARATS) President Chen Yunlin(R) and Taiwan-based Straits Exchange Foundation (SEF) Chairman Chiang Pin-kung attend the symposia on industry and shipping in Taipei, southeast China's Taiwan Province, Nov. 5, 2008. They attended two symposia, one on industry and shipping and the other on finance, that were held against the backdrop of international financial crisis and struggling world economy in Taipei on Wednesday"We are expecting more air routes," said Yang Guanghua, general manager of Xiamen Airlines. The flight distance between Xiamen and Taipei will be one third shorter than at present and the flying time will be about half, he said. The two sides said in the agreement that they are going to negotiate another route linking the southern part of Taiwan with the mainland. To cope with increasing flights, Yang's company plans to use 10more passenger planes next year, he said. Taiwan's senior economic official Shih Yen-shiang told the local daily China Times on Wednesday that he estimated every direct trip across the Strait could save companies 300,000 New Taiwan dollars (about 9,000 U.S. dollars). "Based on 4,000 trips a year, 1.2 billion dollars will be saved," he said. Under the new agreement, the mainland and Taiwan will exempt each other's shipping firms from business and income taxes. For the container divisions of Taiwan's three leading shipping lines -- Evergreen Marine, Wan Hai Lines and Yang Ming Group -- 60percent could be related to the mainland. Tax cuts will save each 2 to 3 billion NT dollars, another local newspaper, the Commercial Times, said. Ningbo of eastern Zhejiang Province was one of the 63 ports that the mainland opened to Taiwan ships. "The most direct effect will be increasing cargo volume," said Tong Mengda, chief economist of Ningbo Port Holding. "The voyage to Taiwan has been cut from 25 hours to ten. This is good for both shipping companies and ports."
BEIJING, Feb. 1 (Xinhua) -- The Chinese government vowed to beef up vocational training for migrant workers, college graduates and laid-off workers, who were badly hit by the global financial crisis, to help them land jobs, according to a joint circular issued by three ministries. Local government should offer the migrant workers necessary training to help them find jobs in the railway and infrastructure construction, power sector and rebuilding of the quake-hit areas, according to the joint circular issued by the National Development and Reform Commission, the Ministry of Finance and the Ministry of Human Resources and Social Security. Vocational schools and technical training institutions should enhance training for people who were affected by the crisis, and work out programs to help them find new jobs, said the Ministry of Human Resources and Social Security on Sunday. China's urban unemployment rate was 4.2 percent at the end of 2008, up 0.2 percentage points year on year, according to official figures.
BEIJING, Jan. 20 (Xinhua) -- Senior Communist Party of China (CPC) leader Zhou Yongkang underscored the importance of the rule of law in the country on Tuesday. Zhou, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks when addressing the 6th congress of the China Law Society at the Great Hall of the People in Beijing. President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao and Vice President Xi Jinping also attended the session. In his address to the congress, Zhou first expressed appreciation and respect to all Chinese law workers for their contribution to the country. Zhou said building a country ruled by law has always been the pursuit of the Chinese people. He said after China initiated its reform and opening up drive 30 years ago, the country has seen remarkable progress in the improvement of its legal system, law education and research. The principle of rule of law is the premise of the development of China and the well-being of the Chinese people, he said. Zhou encouraged law workers in China to make further contributions to the country by giving advice on the country's development and safeguarding people's livelihood, thus help the country maintain economic growth and social stability. Law workers must bear the people-first principle in their minds and try to safeguard the interests of the people according to law, when making or enforcing laws, and when providing legal services. He also called for law workers to continue to popularize law education among the Chinese public, so that the whole society is encouraged to learn the laws, abide by the laws and use the laws to protect themselves. Local party and government departments must help address the difficulties of law workers in order to create a favorable environment for law education and research and cultivate more law talents, Zhou demanded. The China Law Society was founded in 1949 as a national association of legal scholars, jurists, law practitioners and an academic body of legal sciences. The society has now more than 140,000 members.
BEIJING, Oct. 24 (Xinhua) -- China held a reception here on Friday to commemorate the 30th anniversary of the China-Japan Peace and Friendship Treaty signing, calling on both nations to make joint efforts to further boost bilateral relations. President Hu Jintao and visiting Japanese Prime Minister Taro Aso attended the reception. Recalling the history of the Sino-Japanese relations, Hu said 30 years ago senior leaders, including late leader Deng Xiaoping and ex-Japanese Prime Minister Takeo Fukuda, made a strategic decision to sign the treaty. He called it an important historic document in bilateral ties since the normalization of relations in 1972. Hu said the treaty had for the first time nailed down the general direction of bilateral ties featuring peaceful co-existence and long-term friendship. He added it had played an important role in pushing forward the ties in a correct fashion. Since then, peace, friendship and cooperation remained in the mainstream of the relation despite some twists and turns, he said. The four political documents signed between the two countries had laid a political foundation for the long term stable development of bilateral ties, Hu said, adding both sides had made hard-won progress in cooperation in various areas. After the normalization of the ties, the political and economic exchanges between the two nations had developed quickly. On Oct. 23, 1978, China and Japan exchanged documents of ratification of the Treaty of Peace and Friendship during the visit of the then Chinese Vice Premier Deng to Japan. This had become one of the four important political documents (the other three are the joint statement in 1972, the joint declaration in 1998 and the joint statement in May) for the ties. Hu thanks all those who had contributed to cementing the China-Japan friendship, adding insightful officials of two countries, including the seven Japan-China friendship institutions, had made great efforts to push forward bilateral friendship, despite the variety of domestic and international situations. The Sino-Japanese relations were at a new starting point to create history and faced important opportunities for further development. "We are willing to work with the Japanese side to increase political mutual trust, intensify cooperation and friendly exchanges to advance China-Japan strategic and reciprocal relations," Hu noted. Aso highlighted the bilateral exchanges and cooperation of the past 30 years, attributing the development of the relation to people who were working hard to push forward the ties. China and Japan are permanent neighbors, and the relations between the two should be in the nature of indispensable partnership. Aso called on the two countries to continue their dialogue and exchanges at various levels and cement consultation and cooperation in aim to achieve joint development and help to promote the stability and prosperity of Asia and the world. Aso arrived in China on Thursday evening to attend the seventh Asia-Europe Meeting. It was his first visit since taking office last month.