IN BRIEF (Page 2)

Finance

Pilot system to monitor capital flow

China will test a system to monitor cross-border capital flow in a move seen as a new step toward yuan convertibility.

The State Administration of Foreign Exchange said on Dec 3 that it would start the pilot program in Liaoning, Zhejiang (excluding Ningbo) and Shaanxi provinces, and Dalian in the northeast. It will update its data collection system on capital transactions.

The program will go into effect on Jan 14 and will cover all capital account transactions processed by foreign exchange regulators and by banks for enterprises and individuals in the four regions.

The new system is in accordance with the 12th Five-Year Plan (2011-15) to gradually realize yuan convertibility, according to the administration.

Housing

Prices rise for sixth month

Home prices in most major cities increased for the sixth consecutive month in November amid rising market expectations.

The China Index Academy, a property research body, reported on Dec 3 that the average price of new homes in 100 monitored cities increased 0.26 percent monthly in November to 8,791 yuan ($1,395; 1,076 euros) per square meter. A rise of 0.17 percent was recorded in October. Sixty of the 100 cities experienced a rise in property prices, up from 56 in October. Thirty-eight cities experienced a fall in prices, down from October's 42.

In 10 major cities, including Beijing and Shanghai, prices rose, reversing an 11-month decline.

Policy

Province to audit officials' assets

Guangdong province is to launch a pilot project requiring all Party and government officials to report their assets in a move to curb corruption.

Huang Xianyao, secretary of the Guangdong Commission for Discipline Inspection of the Communist Party of China, said the province is now selecting designated districts and counties to roll out the pilot project.

The commission will also disclose properties owned by officials, Huang said. The commission is studying details and introducing rules for the pilot project.

"The commission will expand supervision on issues involving officials illegally applying for identity cards and other certificates, traveling abroad, transferring properties abroad and arranging for their spouses' and children's emigration," Huang told reporters in Guangzhou, the provincial capital, on Dec 4.

The pilot project will be rolled out across the province when it is proven to be effective, Huang said.

Tourism

City to welcome visa-free visitors

Foreigners arriving in Beijing from overseas and staying in the capital for 72 hours or less will no longer have to apply for a visa, a move tourism experts say will help the city in its goal of becoming an open international city. The capital announced on Dec 5 that, from Jan 1, visitors from 45 countries will be allowed a three-day stay without a visa.

The program, of particular benefit to transit passengers and business people, will make the city more accessible and allow tourism to be a strategic pillar of the economy, the Beijing Tourism Development Committee said.

Culture

Screens rise for documentary films

More documentary films will be screened in cinemas as the industry develops, said an official with the country's top radio, film and television authority.

"We will also set up some digital documentary cinemas in big cities such as Guangzhou, Beijing and Shanghai to help Chinese films have more market coverage," said Zhang Pimin, deputy director of the State Administration of Radio, Film and Television.

Zhang made the remarks at a conference coinciding with an annual international documentary film festival, which opened in Guangzhou on Dec 4.

China's documentary industry has developed rapidly in recent years, Zhang said. China Central Television's documentary channel, China's first professional satellite channel of its kind, now reaches more than 650 million people.

Society

Volunteers to be graded on work

The work of millions of volunteers across the nation will be recorded and graded in a central database by the Ministry of Civil Affairs, an official said.

The star-based grading system, with five stars denoting exemplary work, may be launched in 2015.

It will be initially tested in 136 areas over the next two years. If everything goes smoothly, it can be implemented across the country, said Li Hongmei, director of the No 2 social division of the Ministry of Civil Affairs' department of social workers.

There are an estimated 60 million registered volunteers on the Chinese mainland, she said on Dec 4.

It will be mandatory for public service, philanthropic and volunteer organizations selected for the pilot project to record and evaluate volunteers' services, which will then be uploaded into the ministry's database.

China Daily

(China Daily 12/07/2012 page2)