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Chinese central bank encourages direct use of yuan, Japanese yen in cross-border transactions
央行促進人民幣與日元在兩國跨境交易中的使用
The People's Bank of China is now pressing for the direct use of the Renminbi and the Japanese Yen in cross-border transactions between the two countries.
The central bank has made the call following talks between Chinese Premier Wen Jiabao and Japanese Prime Minster Yoshihiko Noda.
The People's Bank of China says move would help reduce the risks stemming from the fluctuation of foreign exchange rates, as well as transaction costs.
PBOC is also encouraging the Japanese side to make direct RMB investments here in China.
The central bank has already approved a trial program of issuing RMB-bonds to the Japan Bank for International Cooperation.
China likely to further cut reserve requirements next year: ex-bank governer
我國明年可能多次下調準備金率
The former deputy of China's central bank, Wu Xiaoling, is now suggesting the central authorities are likely going to make further cuts to bank's reserve requirements this coming year.
However, she says that move shouldn't be seen as a shift in the country's monetary policy.
She says the possible reserve requirement cuts will replenish liquidity if the country's yuan funds outstanding for foreign exchange stop growing, or even begin falling in the coming year.
Yuan funds outstanding for foreign exchange refers to the amount of yuan injected by the central bank into the market through its purchase of foreign currencies on the interbank market.
Many believe the drop in purchases in recent months suggests speculators are pulling out from China.
China's agriculture-related fiscal spending surges this year
今年我國農業財政支出超過千億元
The central authorities here in China are now reporting that fiscal spending for agriculture-related projects and farmers is likely to exceed one trillion yuan this year.
That would be a 21-percent surge compared to the previous year.
The authorities say the increase of funding has gone mainly to the construction of water-related facilities on farmland, as well as to the consolidation of small reservoirs.
Finance Minister Xie Xuren also says the central government is urging financial institutions to increase lending to agriculture-related businesses.
Eight die in E China factory gas leak
工廠煤氣泄漏8人死亡
The death toll from a gas leak at a factory in Jiangsu has climbed to eight.
Six more workers succombed to their exposure to toxic gas last night.
The gas leak at the wire factory in the city of Jiangyin is being blamed on a malfunctioning stove.
25 workers in the factory at the time became sickened by the gas leak.
Among those hospitalized, one remains in critical condition, while the rest are now listed as stable.
Khartoum announces killing of rebel leader, 30 followers
喀土穆宣布擊斃叛軍頭目哈利勒
The government of Sudan has announced that it's killed the leader of one of the main rebel groups in Darfur.
The administration in Khartoum says Justice and Equality Movement leader Khalil Ibrahim is among 30 rebel fighters killed in a fire-fight in the border area between Darfur and the oil-rich state of South Kordofan.
The JEM -- considered the strongest rebel group in Darfur -- has been on an offensive since last week, trying to make its way to Khartoum to try to topple the administration of Omar al-Bashir.
Khalil Ibrahim recently rejoined his group after returning to Darfur.
He had been sheltering in neighboring Libya until the fall of Muammar Gaddafi.
Former rebels to be integrated back into Libyan society
前叛軍整合返回利比亞社會
Libya's government is planning to integrate thousands of former rebels back into its armed forces this coming year.
The plan will see previous rebel fighters who helped topple Muammar Gaddafi given training to allow them to be employed in both the defence and interior forces.
The rebels are also being invited to take up positions in the interior ministry, which is said to be understaffed.
The recruiting drive has been enabled by the lifting of the U.N. sanctions on Libya's central bank.
This has allowed Libya's new leaders to access cash to pay for government jobs.
Libyan officials say it will take a month to register and allocate jobs to the former anti-Gaddafi fighters.
London subway strike to frustrate Boxing Day shoppers
倫敦地鐵司機節禮日罷工
London's post-Christmas shopping rush is set to take on a potentially-frustrating dynamic.
The city's underground train drivers are set to take part in a 24-hour strike on Boxing Day.
It comes folowing an earlier court ruling by the High Court which has determined the job action by the train drivers is legal.
The union representing London's subway drivers is pressing for more money for its members.
The operators of the London Underground say they're going to try to run as many trains as possible, and extra bus services will be added on the busiest routes.
Shanghai to require real-name tweeting registration
上海開通實名認證微博
The authorities in Shanghai are now requiring real-name tweeting registration starting today.
This follows similar moves in other big cities, including Beijing and Guangzhou.
At this stage, the rules only apply to new users, who will have to submit their real identities upon registration.
It's expected existing users will also have to provide their real-life details in the near future.
Authorities say the rules are designed to try to foster a healthy Internet culture.
Users will still be free to pick different screen names.
工廠煤氣泄漏8人死亡
江蘇工廠發生煤氣泄漏,已有8人死亡。
6名工人昨晚暴露于有毒的氣體之中。
江陰這個城市的線材廠將煤氣泄漏歸咎于一個出了故障的火爐。
這家工廠里的25名工人被送到醫院進行緊急救治。
住院治療過程中，1人仍然處于危險狀態,其余員工傷勢穩定。
