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China De-escalates Situation in Huangyan Island

MANILA – China is de-escalating the situation in Huangyan Island in South China Sea by withdrawing two law enforcement vessels, Zhang Hua, spokesman of Chinese Embassy in the Philippines said on Monday. Two Chinese vessels, a Fishery Administration ship "Yuzheng 310 " and a Chinese Maritime Surveillance ship No 084, have already left the Huangyan [...]

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PBOC Governor Talks of Loosening Controls on Lending, Deposit rates

CHINA may take a step further towards interest rate marketization by relaxing controls on lending costs, and then widening the range for deposit rates, the People's Bank of China Governor Zhou Xiaochuan said in an interview with Caijing Magazine published yesterday. China should move over time to a more market-based financial system, in which prices, [...]

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China Backs Steps to Restart Palestinian-Israeli Talks

UNITED NATIONS – China welcomes and supports all measures that help break the deadlock of Palestinian-Israeli negotiations and restart their dialogue, Chinese UN ambassador Li Baodong said here Monday. Li made the statement while addressing a UN Security Council open debate on Middle East. "The Palestinian-Israeli question is the core issue of the Middle East [...]

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Hu Vows to Work with Pyongyang

President Hu Jintao on Monday expressed confidence in Kim Jong-un, the young leader of the Democratic People's Republic of Korea, while promising Beijing will work with Pyongyang for peace on the Korean Peninsula. Hu made the remarks while meeting with Kim Yong-il, alternate member of the Political Bureau and secretary of the central committee of [...]

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Philippines Seeks US Help over Huangyan

Tensions between the Philippines and China are rising after Manila repeatedly called for help from bigger powers to resist Beijing over the issue of Huangyan Island, while the country asked for more ships and planes to be deployed to step up patrols in the area. Yesterday, the Philippines announced it would raise the issue of [...]

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