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BEIJING, Feb. 8 (Xinhua) -- As the U.S. President Barack Obama vowed to get "much tougher" with China on exchange rates and trade, economists from Beijing said China should not give in to increased U.S. pressure that stems from its domestic problems.Obama's talk of putting "constant pressure" on China to strengthen the yuan so to ensure the price of U.S. goods was not artificially inflated has drawn heated comments from economists in Beijing."His words are only aimed to appeal to domestic interest groups," said Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University.Given China's growing international clout and the lack of jobs in the United States, Obama will certainly try to make China change its currency policy as this is an easy way to weaken China's export industry, she said.It was also a relevant tactic given the President was losing ground in opinion polls and facing tough conditions leading up to the mid-term election later this year, she said.Although the U.S. economy recovered to 5.7 percent growth in the fourth quarter last year, a record high in six years, jobless rate surged to more than 10 percent.Fiscal deficit is set to hit 1.56 trillion U.S. dollars in 2010, or 10.6 percent of its GDP, a new record since the Second World War.In the State of the Union Address on Jan. 28, Obama made it clear he would focus on jobs in 2010 and pledged to double exports in five years which could create 2 million jobs in the States.Tan Yaling said Obama's export drive could not fix the job problem, while a stronger yuan would add costs for U.S. consumers.RESIST PRESSUREIt's an old trick for the U.S. to force its major trade partners to appreciate their currency to help itself in a time of crisis, said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission."China's reforms, including exchange rate reform, should be independent of other countries," he said.He noted China's currency policy should comply with the country's macroeconomic conditions and industry restructuring. As many exporters' sales were just starting to pick-up, a rising renminbi would hurt their fragile recovery.Many foreign experts also agreed that the appreciation of the renminbi would not remedy the global economic imbalance.A 20 percent rise in the yuan and other major Asian currencies would at best lead to a rise in U.S. exports worth 1 percent of gross domestic product, as the International Monetary Fund (IMF) estimates suggested, said Olivier Blanchard, Economic Counsellor and Director of the Research Department of IMF."I think it's very important not to bash China over the RMB. What China should do, and is actually doing, is to decrease its saving rate, thus increase domestic demand, and reorient production to satisfy this higher domestic demand," he said in an interview with Reuters on Jan. 29.The renminbi has gained around 21 percent since July 2005 when the government delinked the yuan from the U.S. dollar. However, China's trade surplus with its major trading partners did not fall accordingly."The exchange rate of renminbi is not the main reason for the Chinese-U.S. trade deficit," Foreign Ministry Spokesman Ma Zhaoxu said Thursday."We expect the United States to view bilateral trade issues rationally and to negotiate fairly. Accusation and pressure would not bring a solution," said Ma.

BEIJING, Feb. 1 (Xinhua) -- The Industrial and Commercial Bank of China (ICBC), the world's largest lender by market value, said Monday it extended 110 billion yuan (16.1 billion U.S. dollars) of new loans in January, less than the amount in the same period of 2009."The lending growth in January was stable and moderate, which has well satisfied the real economic demand," the bank said.The ICBC statistics showed lendings of the bank totaled 117.1 billion yuan in January 2009.The bank said it would focus on financing ongoing government projects and continue to extend more loans to small businesses, while strictly controlling loans to new projects and high energy-consuming and polluting industries.ICBC last Wednesday said its loan growth in early and mid-January was "a little fast" as many ongoing projects needed funds, but the lending pace had stabilized since, as a concentrated volume of existing loans had come due and some credit card debts had been repaid.It also announced it would maintain a "reasonable and balanced" lending rate in a move to ease mounting public concerns about possible credit cuts.To prevent economic overheating, the government last month announced it would restrict its overall credit growth to 7.5 trillion yuan in 2010, compared with last year's 9.59 trillion yuan.However, a report from Monday's Economic Information Daily said that as of Jan. 29, Chinese banks had already extended nearly 1.6 trillion yuan new loans this year.

UNITED NATIONS, March 18 (Xinhua) -- China on Thursday called upon the international community to render more support and provide more assistance to Afghanistan, and voiced its support for a leading coordination role by the United Nations in the reconstruction of the south Asian country.The appeal came as Li Baodong, the permanent Chinese representative to the United Nations, was speaking to a UN Security Council meeting on the current situation of Afghanistan.The international community must keep focused on Afghanistan, which is currently at a key transitional period, and increase support and assistance to enhance Afghan sovereignty and capacity for development, Li said.The international community should also step up the efforts to assist the country in strengthening its military and police forces, promoting the process of national reconciliation in the nation, he said.He said that China supports the leading coordination role played by the United Nations in helping Afghanistan in its reconstruction process.China had actively supported and participated in Afghanistan's peaceful reconstruction, he said, adding that China will continue to provide assistance to Afghanistan within its capacity.China had invited Afghan President Hamid Karzai to visit China on March 21-25, Li said, adding that he is confident that visit will achieve positive results.

BEIJING, Feb. 16 (Xinhua) -- Foreign-funded enterprises in China exported 494.4 billion U.S. dollars worth of machinery, electrical and electronic products in 2009.A document posted on the website of the General Administration of Customs (GAC) said the figure made up 69.3 percent of the country's total exports of such products in the past year.Exports of machinery, electrical and electronic products by privately-owned enterprises totalled 106.6 billion U.S. dollars in 2009, down 8.7 percent from a year earlier, according to the document.State-owned enterprises only exported 92.1 billion U.S. dollars worth of machinery, electrical and electronic products, accounting for 12.9 percent of the country's total machinery, electrical and electronic products last year.The GAC document also said the majority of the country's exports of machinery, electrical and electronic products fell into the category of processing and assembling trade.China's exports of machinery, electrical and electronic products in the category of processing and assembling trade totalled 466.4 billion U.S. dollars last year, making up 65.4 percent of the country's total exports of such products.The country exported 713.1 billion U.S. dollars worth of machinery, electrical and electronic products last year, down 13.4 percent year-on-year. The exports contributed 59.3 percent to China's total exports in 2009.The European Union (EU), the United States of America and Hong Kong were the three major destinations for the China mainland's exports of machinery, electrical and electronic products last year.China exported 1.2 trillion U.S. dollars worth of products last year, down 16 percent from 2008, replacing Germany as the world's largest exporter.

ABU DHABI, Jan. 20 (Xinhua) -- The 2010 World Expo, slated for May 1 to Oct. 31 in the eastern Chinese city of Shanghai, will provide an opportunity for the United Arab Emirates (UAE) and China to enhance their mutual understanding, officials said Wednesday.The UAE is the first country to complete the "base-build" of its own pavilion at the Expo, with the exception of China's national pavilion, the state news agency WAM reported.The UAE pavilion will carry the Gulf nation's message to the people of China and many other countries, Saqr Ghobash, chairman of the National Media Council that is coordinating the project, was quoted as saying."We are particularly focused on the theme of Expo 2010 -- ' Better City Better Life' -- because we recognize that this resonates very deeply with the UAE's own experience," he said.Ghobash added that the UAE government and people have made huge strides towards creating a modern society that respects its past whilst embracing the present."We have much to share with our friends and partners in other countries. Expo 2010 provides an opportunity to do this and we are pleased to invite companies and organizations with commercial or other interests in China to participate with us in the six month long Expo 2010 in Shanghai," he said.Salem Al Ameri, commissioner general of the UAE pavilion, said there are still many opportunities for UAE companies to take advantage of the exposition."Whilst this is not a commercial exhibition in the usual sense of the word, it does offer many excellent opportunities for companies in the UAE and China to get to know each other better and to explore partnership or other opportunities. The UAE Pavilion offers a dedicated area for such exchanges and presentations," he said.