The central government has allocated over 2.5 billion yuan ($379 million) as dedicated funds for the allowance policy in 2010, according to a circular jointly issued by the Ministry of Civil Affairs and the Minister of Finance in late November.According to the circular, orphans under the age of 18 living in eastern, central or western regions will receive monthly allowance of 180 yuan, 270 yuan or 360 yuan respectively.The policy was part of China's still-to-be-perfected orphan support system.A sound orphan support system that suits China's economic-social development level would be a "milestone" in the progress of the country's children welfare initiative, said Hui.He said family members and relatives of orphans, welfare institutions, governments and charity groups should make concerted efforts to guarantee orphans' rights to education, healthcare, employment and housing.On the last trading day of 2010, the Chinese currency, the yuan, strengthened to a record high for a second consecutive day, at 6.6227 per US dollar, after 11 consecutive days of gains.The central parity rate of the currency, also known as the renminbi (RMB), was set two basis points stronger than Thursday's 6.6229, according to the China Foreign Exchange Trading system.China's central bank announced on June 19 it would further reform the formation mechanism of the yuan exchange rate to improve its flexibility.Chinese Vice Premier Hui Linagyu Thursday urged efforts be made to supervise the distribution and use of the living allowance for orphans.Tighter supervision should be maintained to make sure that basic living allowances were paid to orphans in a timely and sufficient manner, said Hui in Beijing at a high-level conference discussing the work to support orphans.

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In his message, Medvedev said that Sino-Russian ties have witnessed all-round development and yielded great achievements in the past year.Russia is ready to deepen political mutual trust and expand mutual support, enhance pragmatic cooperation in various fields and work closely with China in international affairs, on the basis of the existing bilateral cooperation.In the coming new year, the two countries will celebrate the 10th anniversary of the signing of their good-neighborly treaty, and Russia will work jointly with China to promote the friendship between the two countries and two peoples from generation to generation, bring about new achievements in their all-round pragmatic cooperation, and raise bilateral relations to a new height, Medvedev said.China Gold International Resources Corp Ltd (CGIR), a subsidiary of China National Gold Group Corp, the country's biggest gold producer by output, said on Thursday it has discovered an ore sample indicating vast gold reverses at its mine in the Inner Mongolia autonomous region. The company said in a statement to the Hong Kong Stock Exchange that it detected a 144.5 meter seam of gold-bearing ore with a grade of 0.92 gram of gold a ton in its Chang Shan Hao (CSH) gold mine, China's biggest low-grade gold mine and CGIR's main asset. CGIR said the ore sample is the best it has found this year in the mine but didn't reveal an estimate of the total reserve.Zhang Lei, a gold analyst with Oriental Security, said that the length of the seam is "very impressive", though the grade of the sample is "relatively low".The company has drilled more than 4 km in eight exploration wells at the mine this year to further explore the reserve, and has found four ore samples that indicate significant amounts of gold. The company's H share rose 1.83 percent to HK$41.75 ($5.36) in morning trading on Thursday.Analysts believe a potential increase in the CSH reserve would provide a shot in the arm for the company's performance, at a time when the price of gold has been hitting records as investors seek safe havens to guard off excessive liquidity.Gold for February delivery increased $7.90 to $1,413.50 an ounce on Wednesday at the Comex division of the New York Mercantile Exchange, after hitting an all-time high of $1,430 per ounce earlier this year, more than three times the price in 2002.An October report by Goldman Sachs predicted that the metal will reach $1,650 an ounce in 2011.CGIR raised HK$2.4 billion in a Hong Kong IPO on Dec 1 to accelerate its expansion, with 15 percent of the proceeds to be used in exploration and 30 percent in mergers and acquisitions.On the same day as its Hong Kong IPO, the company paid $742 million to buy Skyland Mining Ltd, whose main asset is the Jiama poly-metallic mining project in the Tibet autonomous region. The mine has a proven gold reserve of 96 tons."Based on the exploration results this year, we have strong reason to believe that the CSH gold reserve has great growth potential," CGIR Chief Executive Officer Song Xin said."We are working on a three-year exploration plan to boost the value of CSH."The company began extracting gold at the mine in July 2007. As of the end of September, the company had extracted 76,905 ounces (2,155 kg) of gold from the mine, with a daily ore processing capacity of about 20,000 tons.

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