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BRASILIA, April 15 (Xinhua) -- Chinese President Hu Jintao and the leaders of Brazil, Russia and India met in Brasilia on Thursday to discuss the world economic and financial situation and other important global issues.This was the second time the four leaders met formally for a summit.The first summit of Brazil, Russia, India and China, collectively known under their acronym BRIC, convened in Yekaterinburg, Russia, last year.At the Brasilia summit, leaders of the four countries were to exchange views on major global issues, such as the world economy and financial situation, reform of the international financial system, climate change and cooperation among the four countries, Chinese diplomats said.China hopes the summit participants could discuss global issues in the spirit of mutual benefit, so as to facilitate the recovery of the world economy, safeguard the four nations' common interests and advance their cooperation, Qin Gang, a Chinese foreign ministry spokesman, said at a regular press briefing on April 1.He said that China always adopted a "positive, pragmatic, open and transparent" attitude toward cooperation with other BRIC nations.Closer cooperation and exchanges among the four nations would be conducive to increasing the influence of emerging and developing countries, and promoting the development of multilateralism, he said.As major emerging markets, the BRIC countries account for 42 percent of the world's population and 15 percent of the world's GDP. The BRIC countries have become an important force in the international community, receiving worldwide attention.

BEIJING, April 12 (Xinhua) -- Chinese President Hu Jintao left here Monday morning for the upcoming Nuclear Security Summit on April 12-13 in Washington at the invitation of the U.S. President Barack Obama.Hu will deliver a speech stressing the importance of nuclear security and clarifying China's policy on the issue. Hu will meet with Obama on the sidelines of the summit.Up to now, leaders or representatives from 46 countries, the International Atomic Energy Agency (IAEA), the European Union (EU), and other international organizations have confirmed their attendance."We hope common ground can be increased between all participants, and that they will pay greater attention to nuclear security, and work together to safeguard international peace and security," Chinese Vice Foreign Minister Cui Tiankai said last week. Chinese President Hu Jintao delivers a keynote speech at a conference, which is held to conclude a nationwide campaign of studying and implementing the Scientific Outlook on Development, in Beijing, capital of China, April 6, 2010. China also hoped the summit would push international cooperation to ensure safety of nuclear materials and facilities, as well as the peaceful use of nuclear energy, according to Cui.After the nuclear meeting, Hu will attend the second summit of the BRIC countries - Brazil, Russia, India and China - scheduled for April 15- 16 in the Brazilian capital of Brasilia.

BEIJING, April 15 (Xinhua) -- The goal of China's foreign trade policy in 2010 was to improve its trade balance while maintaining steady export growth, said the Ministry of Commerce (MOC) spokesman Thursday.The country's trade surplus was expected to shrink by another 100 billion U.S. dollars in 2010, said Yao Jian, the MOC spokesman, at a press conference.The statement came less than a week after the country posted its first monthly trade deficit for March in six years, which was valued at 7.24 billion U.S. dollars, according to the General Administration of Customs (GAC) last Saturday.The GAC said the March deficit mainly stemmed from shrinking exports of labor intensive products, surging imports volumes and rising commodity prices, and predicted the country's trade surplus might continue decrease for the rest of the year.Echoing the GAC, Yao said the country's foreign trade was likely to keep heading toward a more balanced state, while some experts predicted China's trade would soon return to surplus."The trade deficit registered in March demonstrated expanding domestic demand accompanied by lukewarm demand in the international market," Yao said."Because such a situation would continue, the monthly trade deficit seen in March would remain, at least in the first half of 2010," he said.The deficit also proved that, in an era of economic globalization, it was market supply and demand, and other factors that decided trade balance rather than exchange rates, said Yao.Yao portrayed the deficit in March as the continuation of a shrinking trade surplus that started to appear in 2008, and also as a result of the central government's macroeconomic policy in balancing the economy.In recent years, China has worked hard to restructure its economy away from excessive dependence on exports and the manufacturing sector, while a whole range of measures have been taken to expand domestic demand.The goal of China's foreign trade policy was to further balance trade while maintaining stable growth in exports, he said.Yao expected the ratio of China's trade surplus to its gross domestic product (GDP) to fall to 3 to 4 percent from last year's 5.7 percent.When an economy's ratio stays between 5 percent and minus 5 percent, its trade can be considered as more or less balanced, said Yao Jian, citing a commonly accepted standard adopted in the economics field.The conclusion coincides with another set of data provided by the GAC chief Sheng Guangzu in an exclusive interview with Xinhua on Wednesday.Sheng said the ratio of China's trade surplus to its total trade volume declined to 2.3 percent in the first quarter this year from more than 10 percent registered between 2006 and 2008."When the ratio is below 10 percent, it means the country's foreign trade can be deemed as balanced," said Sheng citing an international standard.Sheng also said that China never worked towards having a trade surplus and the country was committed to making its foreign trade more balanced.China's trade surplus would continue to shrink as a result of the country's efforts to restructure and balance its foreign trade, he said, echoing the views of Yao.

GUANGZHOU, April 18 (Xinhua) -- A research report of China's foreign trade sector Sunday predicted the world's largest exporter would more than double its foreign trade volume by 2020.It also called on China to improve the quality of foreign trade sector and to lower import tariffs to promote the nation's trade balance.The report, launched by the Ministry of Commerce (MOC) Sunday at the ongoing 107th China Import and Export Fair, the country's largest trade fair held in the southern city of Guangzhou, predicted the China's foreign trade volume would hit 5.3 trillion U.S. dollars by 2020.Merchandise exports will top other countries and be 2.4 trillion U.S. dollars in 2020, 10.1 percent of the world total, while imports will reach 1.9 trillion U.S. dollars and rank second largest, accounting for 8.2 percent of the world total, according to the report, jointly compiled by researchers with think-tanks under the MOC, the Ministry of Finance, and the Chinese Academy of Social Sciences.The report was seen by analysts and officials as a "road map" which lays out a theoretical basis for the reforms in China's trade policies and mechanisms over the next decade.The transformation of the foreign trade growth pattern has become an urgent requirement for China in the post-crisis era, said Vice Minister of Commerce Zhong Shan.Weighed on by the global downturn, China's foreign trade contracted to a three-decade low in 2009, with total volume down 13.9 percent year on year to 2.2 trillion U.S. dollars.Huo Jianguo, director of the Chinese Academy of International Trade and Economic Cooperation (CAITEC) under the MOC, said the financial crisis has revealed a series of substantial problems hidden behind rosy figures, as the nation's foreign trade has been expanded in an ineffective and imbalanced way, or at the cost of environment pollution.Analysts said the downturn had prompted China to adjust its exports structure, and shift focus on high-end manufacturing, energy-saving and environment-friendly industries and developing modern service industries.Li Gang, a research fellow with the CAITEC and leading writer of the report, said the global downturn has phased out a number of backward and less competitive enterprises while offering great opportunities for innovative enterprises to improve growth structure and strengthen their anti-risk capabilities.Although China reported a a deficit of 7.24 billion U.S. dollars in March, the first time over the past six years, analysts suggested decision makers to further expand imports by lowering tariffs, as a way to ease the nation's trade imbalance.Zhang Peng, a researcher with the Chinese Academy of Social Sciences, said China should increase imports of high-tech equipments, energy and resource products, and some agriculture and consumption goods in an attempt to address the trade imbalance.The nation's trade surplus has reached 1.3 trillion U.S. dollars over the last three decades, with foreign exchange reserves hitting 2.45 trillion U.S. dollars by the end of March, according to Zhang.Propping up world's economy recovery, China's foreign trade began to grow again in the first quarter, jumping 44.1 percent to 617.85 billion U.S. dollars, according to customs data.China would consolidate its position as a big trade power and make efforts to develop into a strong trader, and it would play a more active role in international trade arena, according to Zhong Shan.

PYONGYANG, May 9 (Xinhua) -- The Rodong Sinmun, a leading newspaper of the Democratic People's Republic of Korea (DPRK), hailed the recent successful visit to China by top leader Kim Jong Il in an editorial published Sunday.The editorial said that the people of the DPRK are "very glad and excited" about the visit. It is a "meaningful opportunity" to strengthen the friendship between the two parties and the leaders of the two countries.The article also indicated that the DPRK will make efforts to further strengthen the traditional DPRK-China friendship.Both countries shared the view that peace, stability and prosperity of the Korean Peninsula are in the common interests of the two countries and other Northeastern Asian nations, the editorial said.The two sides will make joint efforts to achieve the objective of denuclearizing the Peninsula on the basis of the Sept. 19 Joint Statement, it added.The editorial also said that the people of the DPRK sincerely wish the Chinese people still greater achievements in their socialist construction and the cause for national reunification.Kim Jong Il made an unofficial visit to China from May 3 to 7. He has visited China for five times since 2000.

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