The third Plenary Session of the 17th Communist Party of China (CPC) Central Committee commences in Beijing today (Oct 9th). Senior CPC members will discuss major issues about promoting reform and development in the rural areas.

President Hu Jintao Meets with Villagers to Discuss the Reform Plan in Rural Areas, the focus of the The third Plenary Session of the 17th CPC Central Committee

Guangdong Has a Balance of 191.6 Billion Yuan in Social Security Fund
For the first time ever, Guangdong has released the balance of the provincial social security fund amounting to 191.6 billion Yuan. The announcement came after the Ministry of Labor and Social Security required a disclosure mechanism regarding the social security funds.

Federal Reserve, Six Other Central Banks Slash Interest Rates to Cope With Crisis

The Federal Reserve, together with six other major central banks from around the world, slashed interest rates yesterday to cope with the current financial crisis. The U.S. central bank decided to lower its target for the federal funds rate 50-basis-points to 1.5 percent. It also approved a 50-basis-point decrease in the discount rate to 1.75 percent. In Europe, the Bank of England slashed its rate by half a point to 4.5 percent and the European Central Bank cut its rate by half a point to 3.75 percent. The central banks of China, Canada, Sweden, and Switzerland also took similar actions.