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BEIJING, Nov. 17 (Xinhua) -- The United States and China, the world's first and third largest economies, have pledged to rebalance each other's economy and move in tandem on forward-looking monetary polices for a strong and durable global economic recovery, according to a China-U.S. joint statement released here on Tuesday.     The statement, issued after talks between Chinese President Hu Jintao and his U.S. counterpart Barack Obama, has climaxed the latter's first China trip since he took office in January.     "China will continue to implement the policies to adjust economic structure, raise household incomes, expand domestic demand to increase contribution of consumption to GDP growth and reform its social security system," said the statement.     The United States, in return, will take measures to increase national saving as a share of GDP and promote sustainable non-inflationary growth.     "To achieve this, the United States is committed to returning the federal budget deficit to a sustainable path and pursuing measures to encourage private saving," it said.     President Obama made it clear at an earlier press conference Tuesday afternoon that the rebalancing strategy would require America to save more, reduce consumption and reduce long-term debts.     The statement also said that both sides will pursue forward-looking monetary policies and have "due" regard for the ramifications of those policies for the international economy.     The two also agreed to expedite negotiation on a bilateral investment treaty, and work proactively to resolve bilateral trade and investment disputes in a constructive, cooperative and mutually beneficial manner.     Recognizing the importance of open trade and investment to their domestic and the global economies, the two are committed to jointly fight protectionism in all its manifestations.     "We both agreed to properly handle trade frictions between the two countries through negotiations on an equal basis, and to make concerted efforts to boost bilateral trade and economic ties in a healthy and steady way," said President Hu.     "I stressed to President Obama that under the current situation, both China and the United States should oppose and reject protectionism in all forms in an even stronger stand," he said.     The two sides also reiterated that they would continue to strengthen dialogue and cooperation on macro-economic policies and pledged to honor all commitments made at the first round of the Sino-U.S. Strategic and Economic Dialogue last July, the Group of 20 summits, and the recently concluded APEC Economic Leaders' Meeting in Singapore.     The statement said that both sides commended the important role of the three G20 summits in tackling the global financial crisis, and were committed to work with other members of the G20 to enhance the G20's effectiveness as the premier forum for international economic cooperation.     China and the United States also agreed to work through a cooperative process on mutual assessment to make the G20 Framework for Strong, Sustainable and Balanced Growth a success.     The statement said that both sides welcomed recent agreements by the G20 to ensure that the International Financial Institutions (IFIs) have sufficient resources and to reform their governance structures.     "The two sides stressed the need to follow through on the quantified targets for the reform of quota and voting shares of IFIs as soon as possible, increasing the voice and representation of emerging markets and developing countries in these institutions consistent with the Pittsburgh Summit Leaders Statement," it said.

BEIJING, Dec. 30 (Xinhua) -- World media reports have praised China's efforts in promoting international cooperation to combat climate change and its contribution to a substantive result at the U.N. Climate Change Conference in Copenhagen.     The per capita carbon emission in China is far lower than that in Western countries, the state media from different countries, including India, Pakistan, Indonesia, Central Africa Republic and Malawi, said recently.     Acknowledging that China was facing a heavy task of development, they said that China's demand for due right to development was justifiable and reasonable.     Alongside economic development, China has increased spending on combating climate change, greatly encouraged science and technology, and become a world leader in the use of green energy, they said.     During the Copenhagen Conference, China made all efforts to communicate and negotiate with other countries. It especially brought together developing nations to jointly safeguard their common interests and made a remarkable contribution to a substantive result of the conference, they said.     Meanwhile, media in small island states, including Antigua and Barbuda, Fiji and Papua New Guinea, also spoke highly of China's responsible attitude and forceful measures on tackling climate change, saying China's effort could match that of any developed countries.     They said that some countries' criticism of China on the issue was groundless and irresponsible.     The words were echoed by France's Le Figaro magazine, which said in an editorial that the environment issue cannot be solved without considering the people's interests and national development.     Being a leader in such technologies as wind power, solar energy and carbon capture, China has also spared no efforts in developing nuclear energy, the magazine said.     Le Figaro in an article titled "In Defense of China," called on the international community to learn more about China.     The article said that China's development has contributed to all mankind because it lifted a great number of Chinese people out of poverty and also benefited neighboring countries and the global economy.     It is groundless to say that China did nothing to improve the environment, the article said, citing China's achievements in developing solar energy and a forestation.     The world should be confident in China's ability to combat climate change, it added.

WASHINGTON, Dec. 29 (Xinhua) --The U.S. Commerce Department said on Tuesday that it has set preliminary antidumping duties (AD)on imports of steel grating from China, a move that might escalate trade disputes between the two countries.     The department said it "preliminarily determined that Chinese producers/exporters have sold steel grating in the United States at 14.36 to 145.18 percent less than normal value."     As a result of this preliminary determination, Commerce will instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates.     The product covered by this investigation is a downstream steel product typically comprised of bearing and cross bars used for walkways, platforms and flooring.     From 2006 to 2008, imports of steel grating from China increased 538.44 percent by volume and were valued at an estimated90.7 million dollars in 2008, according to the U.S. Commerce Department.     Commerce said that it is currently scheduled to make its final determination in April 2010.     If Commerce makes an affirmative final determination, and the U.S. International Trade Commission makes an affirmative final determination that imports of steel grating from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order.     The new case followed U.S. President Barack Obama's recent decision to impose punitive tariffs on all car and light truck tires from China for three years, a move quickly denounced by China as a "serious act of trade protectionism."     The protectionist moves by the Obama administration will ultimately hurt the U.S.-China trade relations, which are becoming more and more important due to the global financial crisis, economists warned.

BEIJING, Jan. 5 (Xinhua) -- The Chinese government will continue encouraging outbound investment while attracting foreign investment in 2010 for "stable and relatively fast" growth of the country's economy, a government official has said.     Outbound investment, or "go-global" strategy, should aim at making use of overseas resources, market and advanced technologies, so as to help facilitate development of China's domestic economy, Zhang Xiaoqiang, vice minister in charge of the National Development and Reform Commission, said in the speech posted on the commission's website Tuesday.     The remarks were made at a conference held in Beijing on foreign investment on Dec. 11, but was not released until Tuesday.     In the first three quarters of 2009, China saw its investment overseas at 32.87 billion U.S. dollars, up 0.5 percent year-on-year, according to the Ministry of Commerce (MOC).     The country would also continue to attract foreign investment, he said. "Social stability, huge potential market and low cost of productive resources are still advantages for foreign investment," he said.     The country would see more advanced technologies and talents from foreign countries and foreign investment would better serve the structural reform of the country's economy.     Zhang said the government would stress national economic security while seeking to increase foreign investment. "We have to properly handle new challenges and situations when further opening sectors, including finance and telecommunications."     China's foreign direct investment shrank 14.26 percent from the same period last year to 63.77 billion U.S. dollars in the first nine months as foreign companies cut spending amid the global economic downturn, according to the MOC.     In the speech, Zhang also said China's currency was facing renewed pressure to appreciate because of the quantitative easing monetary policy in developed countries, a weakening dollar and recovery of China's economy.     The pressure would likely spur massive inflow of speculative money, making liquidity management more difficult.     Premier Wen Jiabao also said in December in an interview with Xinhua that the yuan faced appreciation pressure. "China will not yield to foreign pressure for the appreciation of its currency yuan in any form," Wen said.     "A stable Chinese currency is good for the international community," Wen said.

ROME, Nov. 16 (Xinhua) -- Chinese Vice Premier Hui Liangyu on Monday proposed a four-point action plan aimed at eradicating world hunger in his address to a world summit on food security.     Stressing the fact that the financial crisis has worsened the plight of the poor and the hungry, the Chinese vice premier said the summit, hosted at the UN Food and Agriculture Organization (FAO) headquarters here, was "of special significance to world food security, global economic recovery and sustainable development."     In order to overcome the "dual pressure of an international financial crisis and a global food crisis," the first suggestion of the Chinese government was to increase input and raise food production by investing more in agriculture, build up the capability to resist natural disasters and strive for greater self-sufficiency. Chinese Vice Premier Hui Liangyu makes a speech during the United Nations Food and Agriculture Organization (FAO) Summit in Rome, capital of Italy, Nov. 16, 2009. On behalf of the Chinese Government, Hui Liangyu attended the United Nations Food and Agriculture Organization (FAO) Summit which opened Monday    Both industrialized and developing countries should in the long run forge their own "blood-generating" capacity, Hui said.     He called on developed countries and international organizations to provide developing countries with financial, technological, market and capacity-building assistance.     The second Chinese suggestion presented to world leaders at the FAO summit was to "create a sound market environment for mutual benefit and win-win progress," obtainable through the elimination of all sorts of protectionism, the re-launch of the Doha Round negotiations and the reform of global financial governance.     "All countries should jointly oppose trade protectionism in all its forms and manifestations and push for a positive outcome of the Doha Round negotiations," he said, urging developed countries to slash agricultural subsidies, remove trade barriers and give greater market access to developing countries.     Thirdly, Hui proposed to push forward with the reform of the UN food and agriculture agencies and improve the global governance mechanism in order to rapidly react to crises.     "China supports the creation of a food security safeguard system encompassing early warning, emergency relief and regulation functions," he said.     Lastly, the Chinese government called for a coordinated and global approach in order to ensure a balanced growth.     "Food security is closely related to economic growth, social progress, climate change and energy security," Hui said, adding that global cooperation must be intensified in all sectors because challenges are multiple and interconnected.     This is why all countries "should strive for a positive outcome of the upcoming Copenhagen summit on global warming," the Chinese vice premier said.     The world summit on food security opened in Rome on Monday. During the three-day event more than 60 heads of state and government will gather to discuss measures to eradicate hunger and ensure food security.

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