SOFTWARE

Genuine software use advocated

China's National Copyright Administration (NCA) said on June 21 it would increase efforts to ensure all government offices at and above city level use copyrighted software by the end of October this year.

As of the end of May, all computer software used by the 135 central government agencies are authorized and legitimate, and the NCA will work to root out pirated software in all province-level government bodies by the end of July, the NCA said in a statement on June 21.

Local government agencies have finished their inspection of software copyrights and are now negotiating purchasing issues, the statement said.

SOCIAL SECURITY

Full pension coverage by 2013

Premier Wen Jiabao has vowed to accelerate the implementation of two trial pension programs for urban and rural residents in order to achieve full coverage before 2013.

Wen made the remarks on June 20 at a meeting related to the implementation of the trial programs. One program will cover urban residents, while the other will cover rural residents.

The pension program for urban residents is set to be launched from July 1, and will be implemented in 60 percent of China's cities and towns by the end of this year before being introduced nationwide next year.

The pension program for rural residents was implemented on a trial basis in 2009, but has yet to be fully implemented.

FOOD

No problem with grain reserves

A nationwide inspection has showed that most of China's state grain reserves are safe for consumption, a senior official of the State Administration of Grain (SAG) said. The inspection result suggested the State's grain reserves are "well-preserved" and grain inventory is trustworthy, SAG deputy head Zeng Liying said in a statement posted on SAG website on June 20.

During the inspection, which was conducted over the first half of last year, 5,370 samples were taken from 1,157-grain depots nationwide. Inspectors checked the samples for contaminants such as pesticide residue, heavy metals and mycotoxins.

ELECTRICITY

Power producers driven into red

China's five biggest power companies have reported increasing losses in their thermal power business ventures as they continue to struggle with rising coal costs and capped electricity prices.

Combined losses for the five companies' thermal power ventures reached 12.2 billion yuan (1.3 billion euros) in the first five months of this year, almost triple that of last year, the China Electricity Council (CEC) said on June 20.

The five power giants are the China Huaneng Group, China Datang Corp, China Huadian Group, China Guodian Corp and China Power Investment Corp. These companies provide about half of the country's power.

The council warned that these companies' financial woes would make it more difficult to ensure adequate supplies of power for the summer, when electricity usage peaks.

TRADE

China to cut tax on luxury goods

China, already the world's second-largest luxury goods market, will soon slash import duties on opulent items to encourage wealthy local shoppers to buy more pricey cosmetics, watches and liquor, Chinese media said on June 20.

China's high import duties of 50 percent for cosmetics and 30 percent for high-end watches have driven many rich Chinese mainland consumers to shop in Hong Kong, London and Paris, a trend that several Chinese ministries want to change, the 21st Century Business Herald reported.

Citing unidentified sources, the paper said China's finance ministry might unveil a revamped tax system before October so that Chinese consumers can buy luxury brands at home.

BANKING

PBOC issues more coins

The People's Bank of China (PBOC), the central bank, announced on June 20 that it will issue more gold and silver commemorative coins featuring giant pandas to meet soaring demand for precious metals in the country.

PBOC said the maximum circulation of the one-ounce gold coins with a face value of 500 yuan (54 euros) will be raised to 500,000 from 300,000 previously set at the end of last year.

The maximum circulation of four other gold coins with different gold purity and face values will increase to 600,000 each set from the previous 200,000.

Chinese investors have rushed to buy precious metals this year to hedge against rising inflation.

China Daily - Xinhua