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BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.

BEIJING, June 13 (Xinhua) -- China strongly opposes a declaration issued by the European Union on a Chinese human rights case, said Foreign Ministry spokesman Qin Gang here Sunday.Qin made the remarks in response to a question on China's attitude towards the EU declaration.The EU said in its declaration that it regrets the decision of the higher people's court of Sichuan Province to confirm the sentence of Tan Zuoren to five years in prison for "subversion of state power."It also appeals to the Chinese government to release Tan unconditionally.Tan Zuoren, a former magazine editor, was sentenced in February on the charge of inciting subversion of state power. This week, the Sichuan provincial higher people's court upheld Tan's five-year prison term.Qin said, China's justice department handled the case independently according to the Chinese law.The EU declaration has interfered in China's judicial affairs," Qin said. "China firmly opposes and is strongly dissatisfied over it."Qin hoped the EU would respect China's judicial sovereignty and safeguard the overall situation of Sino-EU relations.

BEIJING, July 28 (Xinhua) -- President Hu Jintao and Premier Wen Jiabao on Wednesday respectively sent condolence messages to their Pakistani counterparts after a deadly airplane crash that killed all the 152 people on board.In his message, Hu, on behalf of the Chinese government and the people and in his personal name, conveyed to Pakistani President Asif Ali Zardari his profound condolences for the victims and sincere regards to the families of those killed in the worst plane crash ever in Pakistan.In a separate message, Premier Wen Jiabao extended to Pakistani Prime Minister Syed Yusuf Raza Gilani his condolences for the victims and offerred regards to the families of those killed.Earlier Wednesday, an Airbus 321 carrying 152 people crashed minutes before it was supposed to land in Islamabad, killing everyone onboard, including at least 20 women and seven children as well as two Americans and a Somalian.The Airblue flight carrying 146 passengers and six crew members left Karachi in the morning and lost contact with the control tower at the Islamabad airport shortly before the crash. The plane was on its way from Turkey to the Pakistani capital via Karachi.The plane, which was manufactured in 2000, was leased in January 2006 by Airblue, a private service based in Karachi, Pakistan's largest city, according to local media.Also Wednesday, Chinese Foreign Minister Yang Jiechi sent a condolence message to Pakistani Foreign Minister Shah Mehmood Qureshi for the deadly air crash and the serious casualties.

BEIJING, July 28 (Xinhua) -- Profits at Chinese industrial enterprises in 24 regions climbed 71.8 percent year on year to 1.61 trillion yuan (237.5 billion U.S. dollars) in the first six months, the National Bureau of Statistics (NBS) said Wednesday.The growth rate was 11.2 percentage points lower than that in the first five months, the NBS said in a statement.Combined revenues for the enterprises totaled 25.9 trillion yuan in the first half of the year, up 36.5 percent from a year earlier - a growth rate 2.4 percentage points lower than in the January-to-May period.Most of the 39 major industries posted year-on-year profit growth.The 24 regions comprise all of the Chinese mainland provinces, municipalities and autonomous regions except the Inner Mongolia and Tibet autonomous regions; Hunan, Guangdong, Hainan and Yunnan provinces; and Chongqing.China's industrial value-added output expanded 17.6 percent year on year in the first half of the year. But month-on-month growth began to slow in March, with June's growth at 13.7 percent year on year.

HANOI, July 23 (Xinhua) -- Chinese Foreign Minister Yang Jiechi made five proposals to the 17th ASEAN Regional Forum (ARF) here on Friday to enhance regional security.Firstly, Yang said countries should bear in mind the overall situation and interests when dealing with sensitive regional issues, and always safeguard the regional peace and stability.Secondly, Yang said countries should adopt a new security concept by seeking cooperation instead confrontation, and respecting and taking care of each other's core interest and security.Thirdly, countries should respect each other, strengthen political mutual trust, improve and develop long-term, healthy and stable relations.Fourthly, countries should exercise restraint when disputes arise and settle disputes through peaceful means.Fifthly, countries should make use of multilateral mechanism like Shanghai Cooperation Organization, ASEAN Regional Forum and Six-Party Talks to promote common interest and common security.Yang said on one hand, the situation in Asia-Pacific region is generally stable. On the other hand, the unstable and uncertain factors are increasing.Yang said ARF could serve as a security dialogue platform to push for mutual trust among members. Yang also urged ARF members to strengthen cooperation on non-traditional security issues including anti-terrorism, disaster relief, non-proliferation and maritime security.ARF comprises 27 members including the ten ASEAN member states namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, the 10 ASEAN dialogue partners namely Australia, Canada, China, the European Union, India, Japan, New Zealand, the Republic of Korea, Russia and the United States, and seven other countries in the Asia and Pacific region namely Bangladesh, the Democratic People's Republic of Korea, Pakistan, Mongolia, Sri Lanka, Timor-Leste, and Papua New Guinea.

来源：资阳报