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GENEVA, Nov. 30 (Xinhua) -- China will maintain the stability of its Renminbi (RMB) exchange rate all along, which does good for the world economic recovery, Commerce Minister Chen Deming said on Monday.     China's exchange rate reform has continued smoothly, and the value of RMB has risen by some 20 percent against the U.S. dollar since 2005, Chen told reporters in Geneva, where he is attending a ministerial conference of the World Trade Organization.     Despite the impact of the global financial crisis and all kinds of other difficulties, the Chinese government has actively tried to boost domestic consumption and stimulate imports, Chen said. Visiting Chinese Commerce Minister Chen Deming attends a launching ceremony of China-Swiss joint study to examine the feasibility of a Free Trade Agreement (FTA) in Geneva, Switzerland, Nov. 30, 2009    Maintaining a relatively stable RMB exchange rate serves the need of China's economic development as well as the world's economic stability, he added.     According to the minister, China's foreign trade surplus is expected to drop by more than a third to 190 billion dollars this year from last year's 290 billion dollars.     Chen also urged the world's major reserve currencies to remain stable. He said the continuous depreciation of these currencies had caused much difficulty for the world economy, and that the attempts to transfer the difficulty to other countries are unjustifiable.

BEIJING, Nov. 20 (Xinhua) -- Chinese President Hu Jintao said on Friday that China hopes to advance the strategic cooperative partnership with the Republic of Korea (ROK).     "We will work with the ROK to increase friendly exchanges at various levels and enhance pragmatic cooperation in various sectors," Hu told Kim Hyong-o, speaker of the ROK National Assembly.     Hailing the smooth development of China-ROK ties in recent years, Hu said the leaders of the two nations had maintained frequent contacts, exchanged views often and reached broad consensus on important issues.     "This gives strong impetus to the growth of bilateral relations," Hu noted. Chinese President Hu Jintao (R) meets with Kim Hyong-o, speaker of South Korea's National Assembly, in Beijing, capital of China, Nov. 20, 2009    The two nations had also witnessed fruitful cooperation in economy, trade, environmental protection and energy, and made active exchanges between parliaments, political parties and people, he said.     "Our coordination in international and regional affairs are close," he added.     Both China and the ROK were faced with important tasks to promote economic recovery, improve people's life and safeguard peace and stability, Hu said, noting that to keep the stable and healthy growth of bilateral ties would not only benefit the two nations and the two peoples, but also help promote regional and world peace and development.     The government also supports the legislative organs from both countries to expand exchanges and cooperation, the president said, expressing his hope that the ROK parliamentary members would make efforts to promote China-ROK friendship.     Echoing Hu, Kim spoke highly of China's measures to cope with the international financial crisis and to maintain stable and rapid economic growth.     The ROK-China relations were at its best period in history, and the ROK National Assembly would work with the National People's Congress (NPC) of China to contribute to the further growth of ties between the two nations, Kim noted.     Kim is visiting China from Nov. 18 to 22 at the invitation of Wu Bangguo, chairman of the NPC Standing Committee.

BEIJING, Oct. 26 -- Delegations from more than 84 countries and regions will participate the ITD conference Monday, and a host of international experts from governments, the private sector and academia will make presentations and lead discussions on this important topic.     The ITD is a cooperative venture formed in 2002 and comprised of the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank, the European Commission and the UK Department for International Development.     Its purpose is to foster dialogue on important topics in tax policy and administration and to function as a disseminator and repository of information on matters of interest in taxation around the world, through its website, www.itdweb.org.     The IMF attaches great importance to its role as a founding member of the ITD. Recent events in the world economy have made even clearer the necessity of international cooperation and sharing experience in economic matters, and this is the very purpose, which the ITD serves.     The topic of this conference is a timely and critical one. The world has been reminded recently and forcefully of the great importance of the financial sector for macroeconomic stability, growth, and development goals. The sector plays a critical intermediating function - without it credit could not exist, capital could not be channeled to useful purposes and risks could not be managed.     The conference will take place against the background of the worst financial and economic crisis to strike the world in three generations, and, while taxation was not itself the cause of the crisis, elements of the tax system are relevant to its background and resolution.     Most tax systems embody incentives for corporations, financial institutions and in some cases individuals to use debt rather than equity finance.     This is likely to have contributed to the crisis by leading to higher levels of debt than would otherwise have existed - even though there were no obvious tax changes that would explain rapid increases in debt. Tax distortions may also have encouraged the development of complex and opaque financial instruments and structures, including through extensive use of low-tax jurisdictions - which in turn contributed to the difficulty of identifying true levels of risk.     The magnitude of the fiscal challenges facing the world economy is greater than at any other time since World War II.     Estimates done by IMF staff on the fiscal adjustment necessary to bring government debt-to-GDP ratios down to 60 percent by 2030 - over 20 years hence - show a gap in the cyclically adjusted primary balances of some 8 percentage points of GDP in advanced economies to be closed between 2010 and 2020.     This cannot all be accomplished by expenditure reduction. New, or increased, sources of revenue will need to be found, on average perhaps 3 percentage points of GDP. While improvements in compliance and administration could account for some of that gap, it will be necessary to adjust tax policies to a degree not hitherto seen on a wide scale.     Although the world economy remains weak with downside risks and much hardship remain, signs of improvement are thankfully now visible.     This is an opportune juncture, therefore, to begin the work of planning countries' exits from the deteriorated fiscal positions developed in response to the crisis, and to give thought to questions raised by the performance of the financial sector in triggering the crisis.     What role can better tax policies and administration play in preventing a recurrence of this costly episode in economic history?     The financial sector has been, and must continue to be, a critical link in the development of the world's economies. The sector has played a key role in accelerating the development of the emerging markets - many of which, prior to this most recent episode, had grown able to tap the world's financial resources at an increasing rate unparalleled in history.     And for the world's most vulnerable economies, continued financial deepening will be absolutely necessary to permit them to meet their development goals. The upcoming conference will consider the role of taxation in both the industrial and developing countries with respect to these goals.     The conference will address not only the role of the financial sector as a source of revenue itself, and its broader role in the development and growth of the world economy, but also its function in assisting in administration of the tax system-through information reporting, collection of tax payments, and withholding.     This latter role will become ever more important with growing international cooperation in fighting tax evasion and avoidance.     Finally, we must not lose sight of the main function of the tax system - to raise revenue in an economically efficient, non-distortionary, and administratively feasible manner.     Even fully recognizing the existence of both market failures and policy-induced vulnerabilities, including those that contributed to this crisis, it is important to avoid accidentally introducing distortions through the tax system that may prove worse than the evils they are intended to remedy.     "Neutrality" of taxation of the financial sector in this sense is a benchmark against which deviations from this objective may be measured and judged.     One must ask whether any proposed interventions are targeted at a recognized externality or existing distortion, and, if so, whether the proposed action is the most appropriate response. And the multilateral institutions, in particular, must look to the effects which the financial sector and its taxation may have not only on the world's highly developed economies-those with the greatest depth of financial intermediation-but at the effects, direct and indirect, on the world's developing nations.     International cooperation on these matters will be critical to making improvements that will benefit all of us. This week's important event, hosted by the Chinese government and organized by the ITD, is itself a model in this regard.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao made five proposals on promoting Sino-U.S. relations and tackling delicate issues of common concern while meeting with visiting U.S. President Barack Obama in Beijing Tuesday.     Obama, who is in Beijing for a four-day state visit to China, agreed with Hu on the proposals, reiterating that the United States does not seek to contain China's rise and that he welcomes China as a "strong, prosperous and successful member of the community of nations."     FURTHER STRATEGIC MUTUAL TRUST     Hu called on the two countries to continue to increase strategic mutual trust with prerequisite of respect for each other's core interests and major concerns.     He hailed Obama's statement that the United States sticks to the one-China policy and hoped that the United States would "properly handle" the Taiwan issue and forbid "Tibet independence" and "East Turkistan" forces from using U.S. territory to cover their anti-China separatist activities.     In Hu's words, China and the United States should not be opponents, but partners that trust each other and cooperate sincerely.     "The development of China is an opportunity for all nations, including the United States," Hu said. "It is not a challenge, let alone a threat."     MAINTAIN EXCHANGES AT ALL LEVELS     Hu said China and the United States should maintain different levels of communication and consultation on major issues in a timely manner through different channels, including exchange of visits, talks and meetings on multilateral occasions.     The two countries should further substantiate the results of the first round of Sino-U.S. Strategic Economic Dialogue and start soon to prepare for the second round of talks in Beijing next summer, Hu said, calling the dialogue an important platform to enhance exchanges and cooperation between the two countries.     STEP UP MACRO CONTROL     It is "necessary" for China and the United States to step up cooperation on coordinating macro economic and financial policies, pushing forward reforms in the international financial system and improving global economic governance structure, Hu said.     He also raised the issue of trade frictions, voicing hope that the United States would loosen restrictions on its export of hi-tech products to China as soon as possible, while recognizing China's market economy status and facilitating expansion of trade and investment cooperation.     "Under the current circumstances," Hu said, "the two countries should more resolutely oppose and resist trade protectionism in any form."     ADVANCE EXCHANGES, COOPERATION IN VARIOUS AREAS     The other areas proposed by Hu for further cooperation between China and the United States include infrastructure, climate change and clean energy, and exchange of students.     He said China is willing to work with the United States on space exploration and construction of high-speed railways.     The two sides should take the launch of the joint clean energy research center as a turning point and deepen cooperation on energy saving, emissions reduction, renewable energy and treatment of environmental pollution, Hu said.     China is also willing to increase counter-terrorism cooperation with the United Stats on a basis of mutual benefit and hold dialogues with the United States on issues of human rights and religions based on the principle of equality, mutual respect and non-interference with each other's internal affairs, said Hu.     WORK TOGETHER TO MEET GLOBAL, REGIONAL CHALLENGES     Hu proposed that the two countries should continue to work together on global and regional hot issues in light of the benefit gained in recent years by cooperating on climate change, nuclear non-proliferation, crackdown on transnational crimes, disaster relief and prevention and treatment of contagious diseases.

WUHAN, Nov. 28 (Xinhua) -- A senior leader of the Communist Party of China (CPC) has urged officials and governments at all levels to serve the people by addressing their concerns.     He Guoqiang, member of the Standing Committee of the CPC Central Committee, made the remarks during his visit in Chibi City of central China's Hubei Province on Saturday.     He said officials and governments must solve well the problems that concern people's immediate interests to ensure social harmony and stability.     When visiting a local village and urban community of the city, He urged local officials to help residents increase their incomes and answer the needs required by the people.     He asked the officials to improve their ability of resolving practical problems to bring about more tangible benefits to local people.     He, also secretary of the Central Commission for Discipline Inspection of the CPC, also called on local Party organs to improve their organizational construction, promote intra-party democracy and strengthen the struggle against corruption.