Democratic presidential candidate John Kerry decided on Wednesday to formally accept the party's nomination in July, instead of delaying it so as to maintain a financial equal footing with President George W. Bush.

Kerry had been mulling over the idea of delaying the acceptanceof the nomination until early September so he could raise and spend as much money as he could, to narrow the financial advantageof Bush, who will be officially nominated at the Republican Party's convention scheduled for Aug. 30 to Sept. 2.

"On Thursday, July 29, with great pride, I will accept my party's nomination for president in the city of Boston. From there we will begin our journey to a new America," Kerry said in a statement issued by his campaign.

The Democrat Party will hold its national convention in Boston from July 26 to 29.

"Boston is the place where America's freedom began, and it's where I want the journey to the Democratic nomination to be completed," he said.

Kerry said he would explore other ways "to level the playing field against the Republicans' five week advantage."

Some in Kerry campaign had suggested that he forgo the nomination at the party's convention and wait five weeks until Bush accepts his nominations in early September, so the two candidates could be left with the same time to spend 75 million USdollars in public money during the period leading up to the general election in November.

The plan, supposed to remain a secret for several more weeks, was leaked last week, causing an uproar in his home town of Bostonand among Democrats. Critics said the idea seemed too political, and would result in less media coverage and public interest.

Both Kerry and Bush are expected to accept 75 million dollars each in full federal funding for their general election campaigns.Once nominated, they will be limited to spending the amount of money and could no longer raise or spend private contributions on the campaign.

Source: Xinhua