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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, 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.

BEIJING, Sept. 18 (Xinhua) -- Chinese Vice President Xi Jinping has urged accelerating research and development of low-carbon technology and mass participation to fulfill national energy saving and emission reduction targets."The global climate change is deeply affecting human beings' living and development. Our country, now in a stage of fast industrial and urban development, is facing obvious environmental pressure," Xi said here Saturday while attending activities to mark this year's National Science Popularization Day.The theme of Saturday's activities is "saving energy and resources, protecting ecological environment and ensuring safety and health."Chinese Vice President Xi Jinping (C) visits solar energy utilization technology while attending activities to mark the National Science Popularization Day in Beijing, capital of China, Sept. 18, 2010.Xi urged the whole society to continue energy-saving and emission-reducing campaigns and support the country's policies on climate change.In addition, Xi urged the country's youth to put forward more ideas for low-carbon life style and contribute their own green inventions.

BEIJING, Sept. 13 (Xinhua) -- Chinese Vice Premier Li Keqiang Monday called for international cooperation to deal with economic challenges and achieve common development.Li made the remarks at a seminar here marking the 30th anniversary of China's cooperation with the World Bank. During his speech he urged nations to continue opening markets while removing trade and technology barriers.Li reiterated China's stance on opening up and reform, pledging the country would continue to import advanced technologies, equipment, experience, talent and capital while creating a fair business environment for all enterprises.Chinese Vice Premier Li Keqiang addresses the Conference ot the 30th Anniversary of China-World Bank Cooperation in Beijing, Sept. 13, 2010.China would protect intellectual property and grant foreign-funded companies equal treatment, Li added.He also said China would step up the transformation of economic growth mode, which would rely on the nation's opening up and institutional reforms.Li praised the World Bank's efforts on reducing poverty and said China would continue to support the World Bank to make new contributions to world development and prosperity.

BEIJING, Oct. 17 (Xinhua) - Deeper reforms, especially systematical ones, will be carried out and extended to more key areas in China during the next five years to provide further momentum for the country's future development after it comes out of the economic crisis, economists and observers have said.The ongoing Fifth Plenary Session of the 17th Communist Party of China (CPC) Central Committee is discussing the 12th Five-Year Plan (2011-2015), or the nation's development plan for the next five years, and "reform" is set to be one key topic at the meeting.At a meeting of the CPC Central Committee's Political Bureau two weeks ago, it was agreed that the coming years will be a crucial stage to deepen the reform and opening-up process while accelerating the transformation of the nation's economic development pattern.The reform and opening up in China, which started more than 30 years ago, had helped the country to achieve rapid economic development in the past decade, and it is widely expected to enter a new stage and touch upon issues that are hard to penetrate, especially systematical ones, in the next five years.Peng Sen, deputy director with the National Development and Reform Commission, the nation's top economic planner, said the systematic and mechanism restraints are the main crux that had frustrated the progress of China's economic development pattern transformation."Without major breakthrough in the system it would be difficult to achieve a fundamental change in the way of economic development," he told Xinhua.Chi Fulin, head of the Hainan-based China Institute for Reform and Development, told Xinhua that the 12th Five-Year Plan is likely to focus on systematic reforms in economic, political and social fields.While further improving the market economy system, China should speed up forming a public service system and a public service-oriented government, which would lay the foundation for boosting domestic demand and sustainable development, Chi said.Wang Tao, an economist with UBS Securities, praised the Chinese government for efficient moves in the face of the global crisis, since a powerful government is able to position all of its economic resources.