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BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading.     Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis.     "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday.     "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said.     Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis.     It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said.     According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year.     With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said.     Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities.     Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said.     "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said.     In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.

BEIJING, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday.     "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis.     The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers.     Priority should be placed on tracking the credit ratings of foreign lenders, it said.     The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums.     From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show.     SINOSURE is China's only policy insurance company undertaking export credit insurance.     In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007.     In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.

BEIJING, Oct. 31 (Xinhua) -- Chinese President Hu Jintao has called for creating more domestic needs to keep stability of the country's financial market and economic growth.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee, made the remark during his visit to Yulin city in northwest China's Shaanxi Province from Oct. 28 to 29. General Secretary of the Communist Party of China (CPC) Central Committee Hu Jintao (2nd R, front), who is also Chinese President and Chairman of the Central Military Commission, chats with local farmers about the corn harvest in Xiaojihan Village of Dajihan Township in Yuyang District during his visit in Yulin City of northwest China's Shaanxi Province on Oct. 28 and 29, 2008.He told the accompanying provincial Party chief Zhao Leji and governor Yuan Chunqing that the basic situation of China's economic development was still fine amid the international financial tsunami and the world economy's slowdown.     Government at all levels and the public should have firm confidence and be revivified to strive, the President told local officials. And government should make more efforts to create domestic needs, especially the consuming needs.     It also should intensify the fundamental status of agriculture in the country's economy, improve the economic growth methods and deepen the opening up and reform policy, he said. General Secretary of the Communist Party of China (CPC) Central Committee Hu Jintao (front), who is also Chinese President and Chairman of the Central Military Commission, visits the command headquarters of Jinjie coal mine during his visit in Yulin City of northwest China's Shaanxi Province on Oct. 28 and 29, 2008.President Hu made the visit soon after the 17th CPC Central Committee ended its third Plenary Session which had announced favorable measures for farmers, a move to inspect local implementation by himself.     In visiting a village of Yulin, the President promised to local corn planters that the government would gradually increase subsidies to croppers and raise the minimum prices of crops purchased from farmers.     Hu Jintao told the farmers to fully trust the rural land policy, to lease their contracted farmland or transfer their land-use right, which was just adopted by the CPC's session.     The new policy was expected to boost the scale of operation for farm production and provide funds for farmers to start new businesses.     Hu Jintao stressed that the transfer of the land-use must accord with farmer's own will.     In another village Hu Jintao told livestock breeders to rely on science and technology to expand their business and increase incomes.     Yulin city is rich in coal and a major producing base of carbinol and coal products.     During his visit to a coal mine, President Hu urged workers and administrators to increase their productivity and give more attention to the safety of production.     In the neighboring coal-fired power plant, Hu Jintao said that building a power plant close to the mine could reduce transport costs and pollution.     He encouraged the plant's workers to make all-out efforts to produce more power to be transferred to the country's eastern part, making more contribution to relieving the power shortage.     President Hu also visited a carbinol company in the city, which produces the fuel substitute, by refining coal. He hoped the company could initiate more independent innovations and create more use for the coal to diversify the country's energy consumption.     In the outskirts of the city, which borders a desert on China's Loess Plateau, Hu inspected one of the four forest walls planted to break sand storms and prevent soil erosion.

BEIJING, Jan. 31 (Xinhua) -- A senior official with Communist Party of China (CPC) has urged to ensure social equity and maintain social stability in promoting the country's economic growth.     Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remark in an article to be published in the journal Qiushi (Seeking Truth), run by the Central Committee of the Communist Party of China on Feb. 1.     Zhou, also secretary of the Political and Legislative Affairs Committee of the CPC Central Committee, said that law enforcement organs should push forward reforms of working mechanism and judiciary system.     He also stressed that all the law enforcement organs should well comprehend and implement the Scientific Outlook on Development, the Party's new creed, and maintain social stability to celebrate the new China's 60th anniversary of founding on Oct. 1.

MOSCOW, Oct. 27 (Xinhua) -- Chinese Premier Wen Jiabao arrived here on Monday for an official visit aimed at strengthening China's strategic partnership with Russia.     During his three-day stay here, Wen is scheduled to hold talks with Russian President Dmitry Medvedev, Prime Minister Vladimir Putin and Chairman of the State Duma, the lower house of Russia's parliament, Boris Gryzlov. Chinese Premier Wen Jiabao (R) shakes hands with Russian Deputy Foreign Minister Alexei Borodavkin upon his arrival at the airport in Moscow, capital of Russia, Oct. 27, 2008. Chinese Premier Wen Jiabao arrived here on Monday for an official visit aimed at strengthening China's strategic partnership with RussiaTopics of discussion include regional and international issues and bilateral cooperation in areas such as economy and trade, energy, nuclear power, science and technology, according to a Chinese Foreign Ministry official.     In a written statement delivered upon arrival at the airport, Wen hailed the level of China-Russia strategic and cooperative partnership in recent years as unprecedented.     The two nations have enjoyed expanding basis for common interests, increasing mutual trust, more fruitful cooperation and closer strategic cooperation in international and regional affairs, he said. Chinese Premier Wen Jiabao (front L) attends the welcoming ceremony held by Russian Deputy Foreign Minister Alexei Borodavkin upon his arrival at the airport in Moscow, capital of Russia, Oct. 27, 2008. The continuous development of bilateral strategic and cooperative partnership conforms to the fundamental interests of the two peoples, and is conducive to peace and stability in the region and the world at large, said the Chinese premier.     He said he will exchange candid views with Putin on major issues concerning substantial bilateral cooperation.     Wen's meeting with Putin will be the 13th regular talk between the prime ministers of the two countries. Chinese Premier Wen Jiabao (R, front) is greeted upon his arrival at the airport in Moscow, capital of Russia, Oct. 27, 2008. The Chinese premier said he will also exchange views with Medvedev and parliament leaders on bilateral ties as well as international and regional issues of common concern.     Wen said he believed this visit will help promote bilateral political mutual trust, deepen their substantial and strategic cooperation, enhance the mutual understanding and traditional friendship between the two peoples, and inject new vigor into the sustained, sound and steady growth of bilateral relationship.     Russia is the first leg of Wen's two-nation tour, which will also take him to Kazakhstan on Oct. 29.     In Astana, capital city of Kazakhstan, Wen will attend the 7th prime ministers' meeting of Shanghai Cooperation Organization member countries. His visit will end on Oct. 31.