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TASHKENT, May 1 (Xinhua) -- When and how the exchange rate of Chinese Yuan should be adjusted must be decided by the Chinese government, the president of the Asian Development Bank (ADB) said Saturday.Addressing the opening press conference of the 43rd annual meeting of the ADB's Board of Governors, Haruhiko Kuroda said the yuan issue was "up to the Chinese authorities to decide."Meanwhile, Kuroda also said it was up to Chinese authorities to decide how and when to implement exit strategies.Kuroda acknowledged China played a leading role in the recovery of the Asia-Pacific region from the global financial crisis thanks to the 8.7-percent growth of its gross domestic product (GDP) last year.Haruhiko Kuroda, president of Asian Development Bank (ADB), speaks during a press conference in Tashkent, Uzbekistan, May 1, 2010. ADB began its annual meeting of the Board of Governors in Uzbekistan on Saturday. Kuroda said the Chinese economy would maintain a high growth rate, with a forecast of 9.6 percent of GDP growth this year and 9.1 percent next year.Despite the fact that China's substantial fiscal measures were not the same as those implemented during the crisis, Kuroda believed that sooner or later the government would mull over an exit from these measures given the strong economic growth.Besides China, all Asian countries should carefully time their exit strategies to unwind their anti-crisis fiscal and monetary policy measures, he said.The ADB began its 43rd annual meeting on Saturday with a pivotal focus on poverty, climate change and regional integration. It is the first time the ADB held its annual meeting in a Central Asian state.

BEIJING, April 5  --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.

VANCOUVER, April 27 (Xinhua) -- Shanghai's upcoming hosting of the World Expo will be an "unforgettable experience" for local residents, leaving a lasting legacy of international trade that will be of benefit to everyone, according to a former Canadian politician.Grace McCarthy, the British Columbia tourism minister who was largely responsible for bringing the World Expo to Vancouver in 1986, said the hosting of the fair put the Canadian city on the global map, ultimately leading to its successful hosting of the Winter Olympics earlier this year.Now 82 and retired from politics, McCarthy, who heads the Vancouver-based Child Foundation charity which helps children with liver and intestinal disorders, said the spinoffs of the Shanghai expo would be vast, ranging from economic development for the city and the country as a whole, to improving the lives of local residents."Shanghai undoubtedly has strong local government with committees working night and day to make connections around the world. Those connections will pay off because they wouldn't even show up if they didn't plan to have a plant (they wanted built) or wanted to go and help rebuild that area that the expo site is on. There will be international trade which will be a benefit for everybody," she said."The opportunity now for Shanghai is the world gets to know the city, not as a land, but as the land of opportunity. Not as individuals who are hardworking, but individuals who want people to come and stay and live and contribute to the country. That's the essence of a world expo. People will see a very different Shanghai than what they have envisioned. It's a pure learning experience."With a theme of transport and communication, the Vancouver expo previewed a host of technologies that are now commonplace.Demonstrations of the internet were on display nearly a decade before it became commonplace, while inventor Arthur C. Clarke presided over a satellite dinner. With diners sitting in Canada, the famed author of 2001: A Space Odyssey chatted with those assembled via satellite from his Sri Lankan base.There was also a demonstration line of Vancouver's new transportation system with an overhead "Skytrain" moving passengers through the expo site. McCarthy said the Canadian-made system had drawn great interest from Singapore which was looking to improve its own rapid transit at the time. However, they ended up going with Japanese technology."It's that kind of interface and that kind of incentive that assist industry both in Canada and British Columbia. From that point of view it was super successful from educating young people about the world they live and making industrial and commercial contacts. At expos you always see futuristic things."That's what really makes an expo when you can showcase the world. It's a real learning experience for the country hosting. Children would come to expo and they would learn all about China, what they produced, what their educational system was like. Then they would go to another pavilion and find out more. It was a real learning experience because there was something for everyone at expo."McCarthy admits Vancouver's expo experience happened almost by accident. To celebrate the city's 100th anniversary in 1986, she got in contact with the Louvre art gallery in Paris to see about the possibility of touring the Mona Lisa across Canada, but little success. A chance meeting in London with Patrick Reid, who had overseen Canada's interest at six world expos, however, sealed the deal. With a reported budget of 800 million to 1 billion Canadian dollars, the fair was a great success in attracting more than 22 million visitors, but ultimately lost just over 300 million Canadian dollars.Despite the financial loss, McCarthy said the expo was beneficial for the psychology of the country that at the time was emerging from a prolonged recession. In addition, there was a sense of patriotism that swept over Canada."It was very beneficial for the psychology of the country and that's difficult to put dollars to. Everything is not all dollars, but everything in dollars is psychological because if you pour money into a party, an event or something, you can be super successful if you do it right. That's what we did."For a person who doesn't know Shanghai, this is a great learning experience for them. They'll see the excitement of the opportunities, the young people who have come to life in the city and are doing incredible things, they'll see all of that and their perception will change. That's worth an awful lot in the global picture."One area that benefited Vancouver tremendously following the fair was tourism. In 2008, tourism employed more than 131,000 people in the western province making it one of its largest sectors along with forestry, fishing and mining. It had 2008 revenues of more than 13.1 billion Canadian dollars, up 35 percent since 2002, according to Tourism BC statistics. "Expo provided us with a showcase to show the world and the world was very interested in seeing it. We had boom years for tourism after that ... afterwards, the people who came in droves and were interested in coming simply because of the media coverage that went all over the world," McCarthy said."When the whole thing finished the world did know about us. Someday they would like to come to British Columbia, Canada. That was kind of the mantra. And people did come in droves. Tourism was at its peak during those years."She adds, however, that the Shanghai organizer needed to recognize that "a country can't live on parties" alone, they also needed to be serious about the business end of it."The business end of it is just as much the hospitality plan quotient and the business plan quotient together."It is very important that countries envision what they want for the values of their people and what the people themselves want for a very good way of life."

BEIJING, April 30 (Xinhua) -- Overseas Chinese hailed the opening ceremony of the 2010 Shanghai World Expo Friday, saying it was a "perfect example of integration of Chinese characteristics and world diversity.""As an overseas Chinese, I feel so proud to see such a great event being hosted by China, and I feel the same excitement as was in Beijing Olympic games," said He Xiaohui, a Chinese community leader in Washington.She said the performance stage used blue as its main color, a color that represents peace and harmony, which echoes the theme of the expo."The Shanghai Expo could be a good opportunity. On the one hand, it will make the world better understand the world. Meanwhile, and more importantly, it will make the world better understand China."In Germany, Fu Chunping, chairman of the federation of Chinese associations, said he was deeply impressed by (Jean-Pierre Lafan, president of Internatinal Exposition Bureau)'s long sentences of Chinese in his address, which "showed the world's recognition of the Chinese culture."Fu said Chinese people in Germany were proud of the homeland and wished the Shanghai Expo a full success.In Italy, ethnic Chinese got together and watched the televised opening ceremony, describing it as a showcase of China's development.Though a work day, many local Chinese gathered in the Wenzhou Bar in downtown Rome to watch the live broadcast from China's CCTV channel 4.As an organizer of local Chinese, Xiaomin Chen told Xinhua that many Chinese came to the bar earlier for the celebation. "Some even cancelled their appointments and other social activities to watch the opening ceremony, because it is the most important thing for them today, they won't miss the chance.""Now they watch TV, some of them have already arranged their trip to China to visit the World Expo in Shanghai. They usually leave for Shanghai in August because many Italians will go abroad for vacation," he said.Zhengxi Chen, another organizer, told Xinhua the Shanghai Expo was an opportunity both for China and the world, especially at a time when the world was suffering from the impact of the financial crisis.For local Chinese in Italy, the World Expo in Shanghai was also a historical chance to learn new knowlege and creative ideas, he said.In South Korea, Chinese students there used their cellphones, MSN and emails to share the excitement of the opening ceremony.Zhang Leisheng, a student at Yonsei University, said he was very exicted after watching the gala live through the Internet with his Chinese compatriots."The spectacular ceremony made me feel very proud to be a Chinese," he said.Over 100 years ago, when China took part in London's World Expo, it was just playing a supporting role and now it had become a host of World Expo, said Pu Bo, a student at Sungkyunkwan University, adding that he was very pleased with a stronger China.The Shanghai World Expo opened Friday night with artistic performances, fireworks and high technologies that epitomized 159 years of Expo history.Thousands of people watched the gala live at the futuristic, UFO-shaped Shanghai Expo Cultural Center, a centerpiece facility at the Expo Park, while thousands more enjoyed fireworks, lights and fountains on the waterfront promenade, the Bund.It is the first time the 159-year-old World Expo has been held in a developing country.

NANJING, April 23 (Xinhua) -- One fisherman was confirmed dead and 16 others were still missing after two boats capsized Wednesday night at sea off Lianyungang city in east China's Jiangsu Province, local maritime bureau said Friday.Rescuers discovered the body of the fisherman Friday afternoon, and were still searching for the missing people, although their chances of survival were slim, according to Lianyungang's sea search and rescue center.Of the 17, seven are from Anhui Province and the others from Sheyang County, Jiangsu.At around 10:30 p.m. Wednesday, a boat registered in Jiangsu capsized because of strong gale and high tide about 200 sea miles from Lianyungang, throwing 12 fishermen on board into the water.The other boat, with 11 people on board and in the same fleet, capsized as it attempted to save them.By Thursday noon, of the 23 fishermen, six have been rescued by a nearby fishing boat.