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BEIJING, Aug. 29 (Xinhua) -- Xie Yun, a 24-year-old new graduate, felt excited when he opened the door of the 50-square-meter apartment he rented in Changzhou city of east China's Jiangsu Province.Starting work in a computer company in July, Xie is one of the lucky few who enjoyed lower rents offered as part of the local government's affordable housing program. He pays 4.5 yuan per square meter for one month, around 10 percent of his monthly income.Also, the apartment is equipped with an air conditioner, a TV set and automatic drying racks."I'm quite satisfied, and I prefer to rent such an apartment rather than buy one," said Xie.Xie's home is one of 133 small-sized public-rent apartments purchased by the Changzhou government and rented to low-income families and the newly employed. Monthly rents varied from 3.5 yuan to 4.5 yuan per square meter, about 30 percent of the average price in Changzhou.In the city's southern section, migrant workers pay even lower costs."I only need to pay one yuan per day for renting a bed in the dormitory-like apartment, sharing a balcony and a toilet with eight people," said Chen Ling, an 18-year-old worker in an electronic firm in Changzhou.The 260,000-square-meter residential community provides 5,000 migrant workers with basic living facilities, including a supermarket, shopping mall, bank, Internet bar and dining hall.The Changzhou government has so far built as well as bought 10,500 units of public-rent housing, and offered 11,400 units of low-rent homes to migrant workers.

BEIJING, Sept. 14 (Xinhua) -- China UnionPay and MasterCard Worldwide announced Tuesday that they have signed a Memorandum of Understanding for future business development.The agreement seeks to set up a cooperation mechanism for both sides and the two companies plan to form working groups to discuss and implement development plans for online payments and other business opportunities.China UnionPay is the bankcard association in China, operating unified interbank clearing and settlement systems throughout the country.

SHANGHAI, Oct. 18 (Xinhua) -- China will continue to promote gradual exchange rate reforms, even while the yuan is expected to stabilize at a reasonable level, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE) Monday in Shanghai.Yi, also deputy governor of the People's Bank of China (PBOC), or the central bank, made the remarks at a seminar held by the International Monetary Fund (IMF) to discuss the theme "Macro-Prudential Policies -- an Asian Perspective"."The flexibility of the yuan has increased since China launched exchange rate reforms in June. We will further boost those reforms, but the process will be gradual," Yi said."Judging from the markets, the yuan can remain stable at a reasonable and balanced level," he said.China will also continue to expand domestic demand and boost construction in rural medical services, education and infrastructure, he said.Five years ago, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.Since then, the yuan has strengthened further, albeit slowly, and has risen more than 21 percent against the greenback.On June 19 this year, the Chinese central bank announced that it would further reform the yuan's exchange rate mechanism to improve its flexibility.

TEHRAN, Sept. 29 (Xinhua) -- Senior Communist Party of China ( CPC) official Li Changchun visited Iran from Tuesday to Wednesday, met with Iranian leaders and stressed bilateral cooperation.Li, a member of the Standing Committee of the CPC Central Committee Political Bureau, conveyed sincere greetings and best wishes to Iranian people in a written speech issued upon his arrival at the airport early Tuesday morning.Iran is an ancient civilized country with a long history which has created the splendid Persian civilization and made important contribution to the development and progress of human civilization, he said.Exchanges between China and Iran began more than 2,000 years ago, and the ancient Silk Road witnessed the continuation and development of the friendship between the two countries, Li added."China values the traditional friendship between the two sides, and during my stay here I will meet and hold talks with Iranian leaders, exchange our ideas on boosting the bilateral relations, discuss new ways to promote political mutual trust and deepen mutually beneficial cooperation, and promote bilateral exchanges and cooperation in political, economic and cultural aspects to gain new achievements," he said at the airport.Li met here Tuesday morning with the Iranian president and vice president to discuss bilateral relations.When meeting with Iranian President Mahmoud Ahmadinejad, he thanked the Iranian leader for offering condolences to China when the country was hit by severe natural disasters, including the earthquake in Yushu, Qinghai province, and the mudslides in Zhouqu, Gansu province, and his attendance at the Shanghai Expo to celebrate Iran's National Pavilion Day.With joint efforts by the two countries in recent years, bilateral relations have maintained a good momentum, political mutual trust has been enhanced and bilateral trade cooperation has been widened, exchanges in culture, education and tourism have been expanded, and traditional friendship between the two peoples has been deepened.The two countries are faced with challenges as well as development opportunities regarding regional and world stability, tackling the impacts of the international financial crisis and boosting economic development, he noted.The CPC official said China is willing to cooperate with Iran to seize the opportunities to consolidate and develop bilateral relations in various areas.Li put forward a four-point proposal to develop bilateral relations, including maintaining high-level contacts and deepening political mutual trust, boosting pragmatic cooperation, strengthening cultural exchanges, and maintaining coordination in international affairs.Li and Ahmadinejad exchanged their views on international and regional issues of common concern.Li reiterated China's stance to solve the Iranian nuclear issue through negotiations. "China is willing to continue playing a constructive role in this regard," he said.Ahmadinejad asked Li to convey his greetings to Chinese President Hu Jintao and said he agreed with Li's proposal on further boosting bilateral relations.The Iranian president pointed out that Iran and China share similar views on the current world situation and global issues, and they face similar challenges and opportunities."Development of friendly relations between the two countries is in the interest of the two peoples and regional peace," he said. "Iran will continue implementing friendly policies toward China, boost pragmatic cooperation in different fields and realize the common development of the two sides."While expressing appreciation for China's long-standing efforts to help solve the Iranian nuclear issue, he said Iran is committed to solving the issue through negotiations.

BEIJING, Nov. 2 (Xinhua) -- Chinese companies' overseas investment rose 10.4 percent year on year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.Chinese companies invested 36.3 billion U.S. dollars overseas in the first three quarters, excluding investments in financial sectors, as other other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, China's top economic planning agency, said at the opening of the 2nd China Overseas Investment Fair in Beijing.China has emerged as a major source of foreign direct investment (FDI) outflows.Although global FDI outflows dropped 40 percent year on year in 2009, China's overseas investments rose 14.2 percent year on year to 47.8 billion U.S. dollars, said Zhang.By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.The National Development and Reform Commission approved the two-day Second China Overseas Investment Fair, which the China Industrial Overseas Development and Planning Association (CIODPA) and China Development Bank are co-hosting.Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.