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GUANGZHOU, Nov. 22 (Xinhua) -- What China can do for the world is not to sell out its massive dollar reserve, but slightly increase its hold of the currency to give reasonable support to the U.S. effort to save its economy, said a senior economist here on Saturday. It is indeed difficult for China to handle its huge forex reserve, as the U.S. currency has already depreciated 20 percent against the Chinese yuan, said Cheng Siwei, well-known economist at a financial forum held in Guangdong. "China would suffer from losses if it sells off the dollar, so our strategy should be not to sell, but to slightly increase dollar reserve," said Cheng, also former vice-chairman of the Standing Committee of the National People's Congress (NPC). Cheng made the remarks amid increasing concern that China might use its forex reserve to finance its 4-trillion-yuan stimulus plan. China held 1.9 trillion dollars worth of forex reserve by September this year. China "can only afford to do what is corresponding to its level of development and national power amid a global crisis," said Cheng. "We should be prudent as to how to deal with our forex reserve," said Cheng, noting that China, despite its large size of economy, has its gross domestic product (GDP) accounting for only 6 percent of the world's total, and its per capita GDP ranking falling out of the top one hundred list.
Li Changchun (5th R, 2nd row), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, poses for photos with artists after a concert celebrating 30 years' reform and opening-up in Beijing Dec. 10, 2008. (Xinhua Photo) BEIJING, Dec. 10 (Xinhua) -- Li Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, watched on Wednesday night a performance that marked the 30th anniversary of the country's reform and opening-up. The concert in Beijing featured poem recitation and chorus of songs as an ode to the achievements China has made in the past 30 years. It was one of a series of performances organized by the China Literature and Arts Federation to commemorate the anniversary. Liu Yunshan, member of the CPC Central Committee Political Bureau and head of the CPC Central Committee Publicity Department, and State Councilor Liu Yandong also attended the event.

BEIJING, Nov. 25 (Xinhua) -- Chinese Premier Wen Jiabao has held in-depth talks with top economists and entrepreneurs to discuss the current economic situation and the country's macro controls amid government efforts to steer the economy out of trouble against a background of global turmoil. The premier sat down with specialists in a wide range of fields from fiscal policy, finance and the corporate world, to agriculture, real estate and external economy, as well as company heads from big sectors such as petrochemical, telecommunications, auto, steel, nonferrous metal, machinery manufacturing, logistics and real estate, at the Zhongnanhai leadership compound in downtown Beijing on Nov. 20 and again on Nov. 25. Chinese Premier Wen Jiabao (C) holds in-depth talks with top economists to discuss the current economic situation and the country's macro controls amid government efforts to steer the economy out of trouble against a background of global turmoil in Beijing, capital of China Nov. 20, 2008. The premier held talks with specialists in a wide range of fields at the Zhongnanhai leadership compound in downtown Beijing on Nov. 20 and again on Nov. 25The economists and entrepreneurs gave their views on the current global economic and financial situation, the country's fiscal and monetary policies, issues concerning rural areas, farmers, and agriculture, real estate sector, financial sector, industrial restructuring, how to improve people's livelihoods, and the difficulties of some sectors and companies, and also offered some suggestions. After listening to the economists and entrepreneurs. the premier said the complication of the ongoing global economy had brought along new difficulties to framing and adjusting macro policies. He said it would be difficult to make the right decisions if one was to only "rely on the past experience", or "the wisdom of a few". He said the government would listen to a wide range of opinions in a bid to become "more scientific and democratic" in decision-making, and improve the transparency of decision-making. He added the government's earlier decision to adopt "active" fiscal and "moderately active" monetary policies in response to changing economic conditions had played an important role in bolstering the economy. He asked the State Council and ministries to deliberate on suggestions offered by economists and entrepreneurs for further improvement of macro policies. Vice premiers Li Keqiang, Hui Liangyu, Zhang Dejiang and Wang Qishan, and State Councilor Ma Kai were also present at the meetings. Premier Wen and some vice premiers also inspected enterprises in regions across the country, including the eastern Shanghai Municipality and Zhejiang and Fujian provinces and central Hubei Province, during the interval of the two meetings. Chinese Premier Wen Jiabao (C) holds in-depth talks with entrepreneurs to discuss the current economic situation and the country's macro controls amid government efforts to steer the economy out of trouble against a background of global turmoil in Beijing, capital of China Nov. 25, 2008. The premier held talks with specialists in a wide range of fields at the Zhongnanhai leadership compound in downtown Beijing on Nov. 20 and again on Nov. 25
UNITED NATIONS, Jan. 27 (Xinhua) -- Zhang Yesui, the Chinese permanent representative to the United Nations, met with Susan Rice, the new U.S. ambassador to the world body, here on Monday afternoon, and they exchanged views on the Sino-U.S. relations and other world and regional issues of common concern, diplomatic sources said here Tuesday. During the meeting, Rice briefed Zhang on the key points of the foreign policy of the Barack Obama administration, the sources said. The two sides also exchanged views on the Sino-U.S. relations, and other international and regional issues of common concern. They agreed to strengthen their consultation on and cooperation in the affairs of the United Nations, the sources said. The new U.S. ambassador made her UN debut on Monday by presenting her credentials to UN Secretary-General Ban Ki-moon.
ANTANANARIVO, Nov. 11 (Xinhua) -- visiting Chinese top legislator Wu Bangguo met here Tuesday with Madagascan Prime Minister Charles Rabemananjara. The two sides exchanged views on bilateral trade ties and reached important consensuses. Wu, chairman of the Standing Committee of the National People's Congress (NPC), said China's top legislature has attached great importance to development of the political ties between the two countries, and that the substantial cooperation is of key concerns for both sides. China will expand the cooperation with Madagascar in fields like energy, mining, hydropower, agriculture and human resource, and encourage the Chinese companies to establish projects with their Madagascar counterparts, Wu said. Madagascan Prime Minister Charles Rabemananjara(L) meets with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress(NPC), the country's top legislature, in Antananarivo, capital of Madagascar, Nov. 11, 2008. "China will adopt open policies on technology transfer, use local labors and strengthen the training program for the Madagascan personnel in an effort to promote the local economic and social development," the top legislator told Rabemananjara. Agreeing with Wu's views on the bilateral cooperation, Rabemananjara, who is also Madagascar 's Chief of Government and Minister of Interior, expressed his profound gratitude and trust to the Chinese people for the assistance they provided when the country suffered economic difficulties. The prime minister said that the Madagascan government would create favorable conditions to attract Chinese companies to establish businesses and further invest in the country. The prime minister proposed to strengthen cooperation with China in fields of agriculture, renewed energy, infrastructure, public health and tourism. At the invitation of President of Madagascar's National Assembly Jacques Sylla and Senate President Yvan Randriasandratriniony, Wu arrived here on Monday for a two-day official visit, the fourth leg of his five-nation African tour. Madagascan President Marc Ravalomanana(R) meets with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress(NPC), the country's top legislature, in Antananarivo, capital of Madagascar, Nov. 11, 2008.
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