China’s commerce ministry spokesman said on Tuesday that people should not hype the recent downward movement in the value of the Renminbi, or the yuan, against the US dollar. In response to a question about whether the yuan’s recent depreciation is a result of government intervention, Shen Danyang said, “We should look at this with [...]
China on Sunday unveiled an urbanization plan for the 2014-2020 period in an effort to steer the country’s urbanization onto a human-centered and environmentally friendly path. Urbanization is the road that China must take in its modernization drive, and it serves as a strong engine for sustainable and healthy economic growth, according to the plan [...]
Suggestion from Xinjiang delegates follows deadly knife attack at Kunming rail station A suggestion that the top legislature consider drafting a national anti-terrorism law following this month’s fatal attack in Kunming has been made by deputies to the 12th National People’s Congress. The 60-member delegation from the Xinjiang Uygur autonomous region has made a group [...]
Prosecutors to work more closely with overseas authorities to fight corruption Prosecutors nationwide will clamp down on corrupt officials this year and step up the hunt for those who have fled abroad, according to the top procurator. Preventing suspects from fleeing the country and tracing those who have escaped are important measures for prosecutors in [...]
Bank of China Ltd rolled out a new index on Tuesday that tracks the development of offshore yuan as part of its pledge to build up strength overseas to cash in on the yuan’s globalization. The index tracks the yuan’s offshore indicators, including the amount of deposits, loans and trading volume, to reflect the currency’s [...]
As China continues striding toward the rule of law, the country’s top legislature is finding new ways to streamline compliance. Incorporation of questionnaires and online solicitations for public opinion have made the National People’s Congress (NPC) Standing Committee’s supervision of government and judical bodies more objective and pertinent, lawmakers said. “The NPC usually holds its [...]
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