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WASHINGTON, April 24 (Xinhua) -- China's central bank chief on Friday called for the International Monetary Fund (IMF) to accelerate its process to shift its quota to emerging market and developing countries."The quota structure is the core issue in Fund governance. The severe underrepresentation of emerging market and developing countries in the IMF seriously affects the Fund's legitimacy and effectiveness, and must be promptly corrected," said Zhou Xiaochuan, governor of People's Bank of China at the IMF and its sister institution -- the World Bank's spring meeting in Washington.The Group of 20 (G20) Pittsburgh Summit in September had called for a shift of at least 5 percentage points, and protection of the voting rights of the poorest countries before January 2011.But so far the quota adjustment process is slow. The previous quota reform, which was already approved by the IMFC -- the IMF's steering committee -- in 2008, has not been completed until now.Zhou said that the IMF is a quota-based institution, and quotas should be its primary resource.He emphasized that quota adjustment and reform is not a zero- sum game. "A Fund with a more reasonable governance structure will be better able to protect global economic and financial stability which will benefit all member countries. We urge the Fund to accelerate its work, and complete quota reviews on schedule in accordance with the G20 Pittsburgh Summit and IMFC objectives," Zhou said.According to the IMF's latest World Economic Outlook report, growth speeds of developing countries are much faster than the advanced economies, meaning their weight in the global economy is increasing dramatically.However, quota of the developing countries in the IMF is underrepresented."We expect the review to leave no member's quota share severely misaligned," Zhou said.
BOAO, Hainan, April 11 (Xinhua) -- Competitions between China and India do not necessarily mean confrontation between the two neighboring Asian nations, Indian minister of state for environment and forests Jairam Ramesh said here Sunday."These two giants must cooperate, as the Chinese leaders say, in a harmonious manner," Ramesh said at the Boao Forum for Asia (BFA) annual conference which concluded Sunday in south China's island province of Hainan.Ramesh said both sides have to move forward and compromise.For example, he said cooperation between India and China in the United Nations climate change conference last December in Copenhagen could become a "trigger for deepening cooperation" between the two nations in all fields.At a panel discussion, Ramesh was asked whether the competition between the two nations was as fierce as what was described in The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us, a book written by American journalist Rogyn Meredith.
TOKYO, June 1 (Xinhua) -- Chinese Premier Wen Jiabao described Tuesday his visit to Japan as successful, saying it has deepened trust, enhanced cooperation and consolidated the foundation for friendship between the two countries.In an interview with Japanese public broadcaster NHK, the Chinese premier called his visit to Japan "a journey of confidence and hope."Wen said he has achieved the visit's objectives of deepening mutual trust, enhancing cooperation and consolidating the foundation for friendship. "The visit is successful," he said.Important agreements were reached at his talks with Japanese Prime Minister Yukio Hatoyama, including re-establishing a hot line between the heads of the two governments, creating a maritime communication mechanism between the two defense departments and speeding up the establishment of a maritime rescue agreement, Wen said.The two sides also discussed ways to strengthen bilateral economic and trade cooperation, and identified green economy, energy and environmental protection and e-commerce as priority areas for cooperation, he said."Cooperation between China and Japan enjoys broad prospects," said Wen.The Chinese premier also called for promoting bilateral cultural and people-to-people exchanges, saying these exchanges are fundamental to the friendship between the two countries.After concluding a three-day visit to Japan earlier Tuesday, Wen is now in Mongolia for a two-day official visit.
BEIJING, April 5 (Xinhua) -- China's Central Military Commission has issued a set of guidelines aimed at developing a comprehensive system upgrading military information security, a statement from the commission said Monday.Approved by Hu Jintao, Chairman of the Central Military Commission, the Guidelines on Enhancing Military Information Security under New Situations set out an overall arrangement to advance military information security work by "tackling critical issues" facing China's armed forces.Improvement of military information security is a requirement for the modernization of China's national defense and military buildup, said the guidelines.The document stressed the importance of enhancing organizational bodies, working mechanisms, specialized personnel and technical safety to realize improved information security in the ranks. It gave priority to network security and electromagnetic safety as two major working areas, among others.Military officers and solders should receive proper education to get prepared for military information security against the new backdrop, said the guidelines.
SANAA, April 11 (Xinhua) -- A Chinese medical mission arrived Sunday in the southern Yemeni province of Aden as part of a cooperation agreement between the two countries, state-run Saba news agency reported.The 45-strong mission will provide medical services to residents of the southern provinces of Aden, Lahij, Abyan and Hadramout, according to the report.The mission includes neurosurgeons, plastic surgeons, thoracic surgeons, pediatric surgeons, orthopedic surgeons, anesthesiologists and a number of administrative staff, Jamal Khadabish, director of the Aden-based al-Jomhoriya hospital, was quoted by Saba as saying.The mandate of the Chinese mission would last for one year in accordance with a protocol of health cooperation between Yemen and China, Khadabish noted.