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PARIS, July 7 (Xinhua) -- Top Chinese legislator Wu Bangguo and French Prime Minister Francois Fillon agreed on Wednesday that China and France should further consolidate bilateral ties and expand economic cooperation.During a meeting held at Fillon's office, Fillon said Wu's visit will strengthen the traditional friendship between Paris and Beijing and promote the Sino-French comprehensive strategic partnership to a new stage.Wu, who is conducting an eight-day official goodwill visit to France, said China and France share common interests in many areas. It is in the interest of both people to further develop the bilateral cooperation.Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with French Prime Minister Francois Fillon in Paris, July 7, 2010.The Chinese and French economies are highly complementary and have great potential for more bilateral cooperation, said Wu, Chairman of the Standing Committee of China's National People's Congress (NPC).China is willing to build a long-term and sustainable economic partnership with France, he added.Fillon said the French government encourages French enterprises to expand cooperation with China in environmental-protection, agriculture and finance sector. France and China have common interests in accelerating the recovery of world economy and coping with global issues. France gives high priority to the development of Sino-French ties.The two sides also achieved consensus on working together to boost exchange and cooperation between China and the European Union.

BEIJING, July 24 (Xinhua) -- Chinese telecom equipment giant Huawei Technologies said Motorola's charges of stealing confidential information about its cellular network equipment is groundless, the China Daily reported Saturday.Motorola on Wednesday said one of its former staff engineers, who now works with a Huawei reseller called Lemko, had provided information about a new transceiver and other Motorola technology to Ren Zhengfei, the founder of Huawei Technologies, the newspaper said."The complaint is groundless and utterly without merit. Huawei has no relationship with Lemoko, other than a reseller agreement," Huawei wrote in an e-mail to the newspaper, adding that it will defend themselves against these baseless allegations.The Chinese telecom equipment company had been planning to tap into the United States market via acquisitions.It is believed Huawei is interested in deals including a 1.2-billion-U.S. dollar Nokia Siemens Networks (NSN) purchase of the wireless network assets from Motorola, and Ericssons's 1.13-billion-U.S. dollar takeover of Nortel Networks' mobile unit, according to the newspaper.Wang Yuquan, senior consultant with research firm Frost&Sullivan China, told the newspaper that though Huawei has not been successful in its efforts in the U.S. market so far, it may gain some of the customers impacted by the NSN takeover.

BEIJING, July 24 (Xinhua) -- The gross domestic product (GDP) in China's western regions grew by 13.5 percent year on year in 2009, much higher than the country's revised national GDP growth of 9.1 percent, according to a report issued here on Saturday.It is the eighth year in a row for these regions to score a double-digit GDP growth after the Chinese government launched a "West Development" campaign ten years ago, read the report on the economic development of China's western regions issued by the Chinese Academy of Social Sciences.It attributed the GDP growth mainly to China's policies to stimulate domestic demand and the increase in investment, despite the global financial crisis.Five provinces, regions or municipalities saw an increase of more then ten percent in the disposable income of urban citizens in 2009, as the income gap between China's western and eastern regions had begun to narrow, the report said.The average yearly per capita disposable income of urban citizens in the western regions was 12,971 yuan (about 1,918 U.S. dollars) in 2008.Noting that economic development in the western regions still heavily relied on natural resources, the report said efforts should be made to increase the regions' capacity to ensure sustainable development, while establishing a low-carbon industrial system.

LAS VEGAS, the United States, Aug. 9 (Xinhua) -- Top-quality light manufactured products and consumer goods have been on display at the China Brand Show 2010 held in Las Vegas since Sunday, as part of China's bid to further enhance the profiles of Chinese-made products and promote closer Sino-U.S. trade and economic relations.Co-hosted by the Chinese Ministry of Commerce (MOFCOM), and the Zhejiang and Fujian Provincial Governments, the exhibition is being held from Aug. 8 through Aug. 11. It has been staged in the United States for seven years in a row.A ribbon-cutting ceremony was held at the Las Vegas Convention Center on Monday morning. Ranking officials from MOFCOM, Zhejiang and Fujian provinces and Nevada and Las Vegas participated in the event. Around 200 people witnessed the occasion."The China Brand Show has become an important window for U.S. enterprises and consumers to understand 'Made in China,' Chinese brands and Chinese enterprises," said Wen Zhongliang, Deputy Chief of the Department of Foreign Trade under the Chinese Ministry of Commerce. "Also, the show is more and more attractive to Chinese enterprises."The show occupies a total exhibition area of 4,500 sq m and hosts 229 carefully selected top-brand Chinese firms from 18 provinces and cities in China, including Zhejiang, Fujian, Jiangsu, and Guangdong.The exhibits, including light manufactured products, consumer and household electronic goods, feature high-technology and ingenious design and represent a new dimension of China's latest economic achievements. This year's show has set records in scale, exhibitors and exhibit varieties.The show has served as a platform where corporate image can be built, products showcased and positive conditions for cultivating well-known Chinese brands created, the organizers said.For the past four years in a row, the show has been hosted in Las Vegas, one of the ideal venues for exhibitors around the world. China and Nevada have "a great future together as trade partners and friends," Lorraine Hunt-Bono, Commissioner and former Lt. Governor of Nevada, said.The appearance of participating enterprises and products in the show will not only facilitate American consumers to buy Chinese goods, but also provide cooperation opportunities for firms of the two countries."The increasingly close Sino-U.S. economic and trade cooperation not only benefits the peoples of both countries, but also provides new impetus for the development of bilateral relations, and contributes to the recovery of the global economy to a steady growth," Wen, the MOFCOM official, added.

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.

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