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BEIJING, Oct. 11 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Monday as the central parity rate of the yuan was set at 6.6732 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Monday's central parity rate beat the previous record of 6.6830 on Oct. 8.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 Monday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.26 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.China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said in Washington on Sunday.

BEIJING, Oct. 7 (Xinhua) -- China's water resources imbalances between the north and south may worsen due to global climate changes and economic activities, said Vice Minister of Water Resources Hu Siyi.Typically, China's north is dry while its south has abundant water supplies.China will face unprecedented challenges in saving water in the next five-year plan from 2011 to 2015, said Hu at a national water-saving meeting in Zhengzhou, capital of central China's Henan Province, late September.Compared with the 1956-1979 period, rainfall in the Yellow River, Huaihe River, Haihe River and Liaohe River vallies in the 1980-2000 period had dropped six percent on average and river and lake water resources decreased 17 percent in these areas, according to figures from the Ministry of Water Resources.China's accelerated urbanization has pushed up demand for water.If the population in Beijing keeps on climbing, the water brought by the near completed South-to-North Water Diversion Project would not be enough, Hu said.China's water-saving targets during the 12th five-year plan from 2011 to 2015 include a 30-percent cut in water use for every 10,000 yuan (1,490 U.S. dollars) of gross industrial output, Hu said.

ATHENS, Oct. 2 (Xinhua) -- Chinese Premier Wen Jiabao on Saturday made a five-point proposal on boosting ties with Greece during talks with his Greek counterpart George Papandreou, stressing that China is willing to work with the European country to combat the lingering financial crisis.Wen arrived in Athens earlier in the day, starting a three-day official visit to the country, the first by a Chinese premier in 24 years.Papandreou held a grand welcoming ceremony for Wen after the Chinese premier's arrival.Wen said both countries were great civilizations in the history and the people of the two countries have always been amicable to each other. There have been consistent mutual support, mutual help and solid political mutual trust between the two nations for a long time.Greek Prime Minister George Papandreou (R) shakes hands with Chinese Premier Wen Jiabao during a press conference in Athens, Greece, on Oct. 2, 2010."Currently, Greece is actively dealing with the impact inflicted by the sovereign debt crisis and has experienced the hardest time," Wen said during the talks with Papandreou."China will work with Greece to deal with various challenges and deepen the China-Greece comprehensive strategic partnership," he added.China has bought and is now holding Greece's treasury bonds, and will continue to "take positive attitude to participate in the purchase of Greece's new treasury bonds," said Wen, adding that it served as one of China's measures to help the sovereign debt-ridden country.Wen put forward a five-point proposal for the further development of China-Greece ties concerning cooperation in maritime transportation, trade and investment.China will set up a special fund on China-Greece shipping cooperation, with the initial part of 5 billion U.S. dollars, in a bid to promote cooperation in maritime transportation between the two countries, said Wen.He added China will help upgrade Greece's southeast and largest port Piraeus to a distributing center for Chinese exports to Europe.Wen said he believes it is realizable for trade volume between the two countries to double and reach the goal of 8 billion dollars in five years, adding China will expand the import from Greece.

NANNING, Oct. 19 (Xinhua) -- China and member states on the Association of Southeast Asian Nations (ASEAN) are seeking new cooperation opportunities at the 7th China-ASEAN Expo while reviewing fruitful results from more than nine months' operation of China-ASEAN free trade area (CAFTA).The 7th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit, with the theme of free trade and new opportunities, opens Tuesday in Nanning, capital of south China's Guangxi Zhuang Autonomous Region.Buoyed by the zero-tariff framework under the CAFTA, more than 2,000 enterprises from home and abroad are taking part in the 7th CAEXPO, which has 4,600 exhibition booths. Jia Qinglin (C Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, announces the opening of the 7th China-ASEAN Expo (CAEXPO) in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, Oct. 19, 2010.Top Chinese political advisor Jia Qinglin, Indonesian Vice President Boediono, and other high-ranking officials, businessmen and scholars from China and the 10 ASEAN nations also gathered in the southern Chinese city to attend the opening of the expo and the summit.The much-anticipated CAFTA was formally launched on Jan.1, 2010. With a population of 1.9 billion and a combined gross domestic product (GDP) of 6 trillion US dollars, the CAFTA ranks as the world's third largest trade zone following North American FTA and the European FTA.From January to September, the two-way trade volume reached 211.3 billion U.S. dollars, up 44 percent year-on-year, an eye-catching growth as the world economy just saw a turnaround after the financial crisis.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said in a keynote speech at the opening ceremony of the summit that cementing and reinforcing the China-ASEAN strategic partnership is in the common interests of the two sides.

BEIJING, Nov. 5 (Xinhua) -- Chinese Vice Premier Wang Qishan on Friday called on China and the United States to strengthen economic cooperation and avoid politicizing economic issues. Wang made the remarks while meeting with Wendell P. Weeks, chairman and chief executive officer of Corning Incorporated, a large manufacturer of specialty glass and ceramics.Wang welcomed Corning's continued investment expansion in China, saying the economies of China and the U.S. were interdependent and highly complementary. Chinese Vice Premier Wang Qishan (R) meets with Wendell P. Weeks, chairman and CEO of Corning Incorporated, in Beijing, capital of China, Nov. 5, 2010.He called on the two sides to step up economic cooperation and make joint efforts to build a positive, cooperative and comprehensive Sino-U.S. relationship for the 21st century.Weeks expressed Corning's willingness to further cooperation with China.Later Friday, Wang also met with Josef Ackermann, chairman of the Management Board and the Group Executive Committee of the Deutsche Bank.During their meeting, the two sides exchanged views on the current international economic and financial situation as well as the reform of international financial supervision and regulation.

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