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BEIJING, Oct. 12 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), dropped 43 basis points Tuesday to 6.6775 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Tuesday's central parity, the Chinese currency has strengthened against the U.S. dollar by 2.19 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.2574 Tuesday, higher from 9.3215 on Oct. 11, the previous trading day.The yuan's rate against 100 yen was 8.124 Tuesday, compared with 8.1276 on Monday.The yuan's rate against the British pound was 10.6042, compared with 10.6311 on the previous trading day.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.

BEIJING, Sept. 24 (Xinhua) -- Premier Wen Jiabao's three-day U.N. visit this week has been fruitful as a major diplomatic effort at a time when new changes are emerging in the world economy and politics, Foreign Minister Yang Jiechi told reporters Friday.Wen was in New York from Tuesday to Thursday for the U.N. Summit on the Millennium Development Goals (MDGs) and the general debate of the 65th session of the U.N. General Assembly, a summit of the U.N. Security Council member states, and a high-level discussion panel on AIDS and MDGs. He also met with U.S. President Barack Obama on bilateral ties and regional and world issues, calling for more cooperation.Yang said Wen made the New York trip as the world economy stabilized and started to show improvement but the recovery remained unbalanced and was still not solid.The international community has, in general, made significant progress on meeting the Millennium Development Goals (MDGs), the minister said. he said, however, more imminent is the imbalance in international development and there are new challenges in international cooperation and development.The developing countries want more attention from the international community on the development issue, the minister said, and countries are ever more willing to promote peace, development and cooperation. They, he said, expect a greater role for the United Nations in safeguarding world peace, promoting mutual development and advancing international cooperation.Wen's trip also came at a time when there are some misunderstandings and misinterpretations about China, which had led the global economic recovery and was put in the global spotlight, Yang said.Wen's visit was also important given that the handling of ties between China and the United States, in particular the appropriate handling of the differences and the advancing of mutual trust and cooperation, is of great importance to the health of their bilateral relations, the foreign minister added.PRESENTING CHINA AS IT ISPremier Wen tried to present China as it is at the U.N. meetings, the welcome banquet in his honor organized by friendly organizations, meetings with foreign leaders and guests, and in media interviews.The premier was sincere and objective about the true condition, challenges and development strategy of China. He made it clear that there had been no change to the fundamental fact that China remains a developing country and that it will stick to the policy of reform and opening up to the outside and the long-term pursuit of peaceful development, Yang said.It is widely agreed, Yang said, that Premier Wen responded with clear and definitive answers to questions about the developing country status, development strategy and international role of China.His words had been sincere and his arguments convincing, helping the international community better understand China as it is and increasing their confidence in the country, Yang said.ADVANCING MDGS FULFILLMENTAddressing the U.N. summit on MDGs, Premier Wen introduced China's achievement in fulfilling the MDGs in slashing poverty and promoting cooperation among developing countries.He laid out a package of proposals to further advance the fulfillment of the MDGs, calling on the international community to prioritize African development and poverty alleviation, as well as promoting U.N.'s leading role in international cooperation.Wen pledged to help developing nations with improving their livelihoods, reducing or erasing debts, enhancing links in such fields as finance, economy and trade, agriculture and human resources training.He announced China will, on top of previously pledged assistance, provide an additional 200 million U.S. dollars in aid to flood-stricken Pakistan.The premier also witnessed the signing of a memorandum of understanding on boosting cooperation between China and the U.N. Development Program (UNDP).As most countries believe, despite all kinds of difficulties, Yang said, China has made positive contributions to achieving the MDGs. China's economic and social progress would certainly encourage other developing nations. In the eyes of the world, China always keeps its promises by taking substantial, sincere and selfless measures.Premier Wen's presence at a U.N. panel on AIDS, the first appearance of senior Chinese leadership to such gatherings, has demonstrated a China that is open, self-confident, emphasizing human dignity, social justice and harmony, as well as balanced development, Yang said.While meeting with the U.N. Secretary General Ban Ki-moon, Wen said China pledged to play a more active role in U.N. affairs in various sectors and to strengthen its partnership with the U.N.PROMOTING PEACE AND STABILITYAttending the U.N. Security Council meeting, Wen presented China's views on world security, and expressed China's willingness to continue supporting the U.N.'s leading role in safeguarding international peace and security.

BEIJING, Sept. 6 (Xinhua) -- China will unswervingly promote the policy of reform and opening up, while creating sound environment for foreign companies operating in China, Vice Premier Wang Qishan told senior U.S. officials Monday.Wang exchanged views on China-U.S. ties and economic and trade cooperation with Lawrence Summers, head of U.S. President Barack Obama's National Economic Council, and Deputy National Security Adviser Tom Donilon, in a meeting in Beijing.Wang said the two countries should bolster cooperation in areas such as economy and trade, investment, finance, new energy and infrastructure upgrading, as their economies are interdependent and complimentary to each other.China is ready to work with the United States to well implement consensus reached by state leaders of the two countries, for sustainable, healthy and steady development of bilateral ties, he said.Wang said the international community should enhance cooperation because the world economy, though on the way to recovery, still encounters twists and turns.He said China is focusing on the change of the growth pattern for more balanced development of the economy.Summers and Donilon briefed Wang on the U.S. economy and the Obama administration's measures to stimulate the economy and create jobs.They stressed that the United States and China should strengthen coordination in macro policies and promote cooperation for a strong, balanced and sustainable growth of global economy.Also on Monday, Li Yuanchao, member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met with the two U.S. officials.Li, also head of the Organization Department of the CPC Central Committee, said the Sino-U.S. ties had maintained a stable development since President Obama took office.China would work with the United States to enhance dialogues and cooperation, while properly handling the differences, to push forward the bilateral ties, he said.8 Summers said the United States attached great importance to the U.S.-Sino relations and firmly believed that the two countries had broad interests and faced with common challenges, including sustainable development of global economy, regional security and climate change.He said the United States was committed to working with China for a positive, cooperative and comprehensive relationship in the 21st century.Chinese Foreign Minister Yang Jiechi also met with Summers and Donilon on Monday. The two sides exchanged views on the future development of Sino-U.S. relations and regional and international issues of common concern.

BEIJING, Sept. 28 (Xinhua) -- General Secretary Hu Jintao of the Central Committee of the Communist Party of China (CPC) Tuesday sent a message to Kim Jong Il, top leader of the Democratic People's Republic of Korea (DPRK), to warmly congratulate him on his reelection as general secretary of the Workers' Party of Korea (WPK)."On behalf of the CPC Central Committee and in my own name, I hereby extend my warm congratulation on the successful holding of the conference of the WPK, on your reelection as general secretary of the WPK, and on the reelection and formation of a new highest leading body of the WPK," Hu said in the message.For many years, the WPK headed by Kim Jong Il has led the entire Korean people to be self-reliant, to struggle arduously and to make great achievements in the cause of building Korean-style socialism.Over recent years, the Korean people have made a series of delightful achievements in building the DPRK into a strong and prosperous nation, in developing the national economy, in improving the people's livelihood, etc, according to the message.China and the DPRK have profound traditional friendship, close geographic relations and extensive common interests.To strengthen and develop China-DPRK friendly and cooperative ties is an unswerving policy of the CPC and the Chinese government.Despite the ups and downs of the international situation, we will always handle, maintain and boost China-DPRK relations from a strategic height and a long-term perspective, according to the message."We are willing to make joint efforts with the DPRK to continuously promote China-DPRK relations to a higher level, in order to better benefit the two peoples and make greater contributions to realizing lasting peace and common prosperity in the region," Hu said in the message."I sincerely wish General Secretary Kim and the WPK to keep making new and greater achievements in the cause of leading the DPRK people building a strong and prosperous country," he said.

BEIJING, Nov. 2 (Xinhua) -- China will reduce its rare earth export quotas next year, but not by a very large margin, Yao Jian, spokesman of China's Ministry of Commerce, said Tuesday."To protect the environment and natural resources, China will stick to the quota system to manage rare earth exports next year, and quotas will also decline," Yao told Xinhua.Though giving no clear extent of the decline, Yao's remarks echoed the comments of Wang Jian, a vice minister of commerce, made Monday at a press conference."I believe China will see no large rise or fall in rare earth exports next year," said Wang.Wang emphasized that China has no embargo on rare earth exports, even though it uses a quota-system as a method of management.Containing a class of 17 chemical elements, rare earths have been widely employed in manufacturing sophisticated products including flat-screen monitors, electric car batteries, wind turbines, missiles and aerospace alloys. However, mining the metals is very damaging to the environment.Chinese officials have said on many occasions that China will strictly protect its non-renewable resources to prevent environmental damages due to over-exploitation and reckless mining.China started the quota system on rare earth exports in 1998 and later banned it in processing trade. In 2006, China stopped granting new rare earth mining licenses and existing mines have since been operating according to government plans.In early September, the State Council, or China's Cabinet, unveiled regulations to encourage merger and acquisitions within the industry.However, China's restrictive policies were criticized by Japan, the United States and other European countries, claiming China's management violated World Trade Organization rules."China has no choice but to take such measures," Chen Deming, China's Commerce Minister, said in August. He pointed out that exports of rare earths should not threaten the country's environment or national security.In response to the increasing criticism of China's rare earth exports management, the spokesman for China's Ministry of Industry and Information Technology said last week that China "will not use rare earths as a bargaining chip"."It is the common strategy of some countries, such as the United States, to use global resources while conserving their own in their homeland," said Zhang Hanlin, director of China Institute for WTO Studies in China's University of International Business and Economics."Creating conflicts on resource issues for their self interests is a common practice," he said.China is the world's largest producer and exporter of rare earths. With about one-third of all proven rare earth reserves, China's exports account for more than 90 percent of the world total."This shows some countries are conserving rare earth resources," said Yao.Early media reports said China would reduce the export quotas by up to 30 percent in 2011. Yet, this was denied as "false" and "groundless" by the Ministry of Commerce.The ministry said the Chinese government will set the 2011 export quotas based upon the rare earths output, market demand and the needs for sustainable development.It also said China would continue to supply rare earths to the world. Meanwhile, it will also take measures to limit the exploitation, production and exports of rare earths to maintain sustainable development, which is in line with WTO principles."Some countries managed to meet the openness requirement of international trade policies when limiting its resources exports," said Feng Jun, a director of the Shanghai WTO Affairs Consultation Center."China should learn from the experiences and explore its own way of protecting its strategic resources," said Feng.