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BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.
BEIJING, July 10 (Xinhua) - The first Chinese language study program for foreign diplomats concluded on Saturday at Hanban, the executive body of the Chinese Language Council International.The program, which started on February 27 with a two-hour class every Saturday, had attracted 31 diplomats from 16 countries to China. The countries included Slovenia, Benin, Poland, Cameroon, Kenya, Nepal, Namibia, Tanzania, Zimbabwe, Malawi, Hungary, Romania, Bulgaria, Mexico, Afghanistan, and the Philippines."We have a lot to do in China and that makes us feel that it is necessary to learn Chinese. Not only have we learnt the Chinese language, we have also made friends with the dedicated teachers and volunteer students," said Tadeusz Chomicki, Polish Ambassador to China.During the 17-weeks of classes, the foreign diplomats learned how to greet others, shop and ask time in Chinese. They also had classes on Chinese culture, experienced the Peking opera, paper cutting, Chinese calligraphy, and shadow boxing."They were always keeping a very high spirit to learn in all weather," said Xu Lin, director-general of Hanban. "Their enthusiasm towards the Chinese language has moved us a lot," she added.Xu said Hanban had developed diversified methods such as open online classes and after-class online consulting, to help them learn Chinese better.To meet the demand of more foreign diplomats to learn Chinese, Hanban will launch the next Chinese language program in September, Xu said.
BEIJING, Aug. 13 (Xinhua) -- China and Switzerland on Friday agreed to start free trade agreement (FTA) talks, as the two states celebrate their 60th anniversary of diplomatic ties.Chinese President Hu Jintao and his Swiss counterpart, Doris Leuthard, witnessed the signing of the memorandum of understanding on finishing the FTA feasibility study that was started in 2009.The two states will begin FTA talks as soon as possible, the Chinese Ministry of Commerce said in a statement.Chinese President Hu Jintao (R) meets with Doris Leuthard, president of the Swiss Confederation and head of the Federal Department of Economic Affairs, at the Great Hall of the People in Beijing, capital of China, Aug. 13, 2010.As one of the first Western countries to forge diplomatic relations with the People's Republic of China, Switzerland has become China's major trade partner in Europe."Facing new opportunities, China-Switzerland relations are at a new starting point," Hu told Leuthard during their 30-minute meeting at the Great Hall of the People in Beijing.President Hu hailed the development of bilateral relations and pledged to further expand political trust and trade and economic cooperation.Leuthard conveyed her nation's condolences to China over the series of natural disasters the country has suffered recently.Leuthard also said Switzerland will stick to the one-China policy.In China for a working visit, Leuthard also said the two states should boost cooperation in finance, education, culture, environmental protection, tourism and on international affairs.
TANGSHAN, Hebei, July 18 (Xinhua) -- Chinese Vice President Xi Jinping on Sunday called for greater efforts to fuel the country's transformation of its economic growth pattern.Xi made the call during an inspection to Tangshan, a city ravaged by a 7.8-magnitude earthquake that killed more than 240,000 people in 1976, just days ahead of its 34th anniversary.The Vice President placed flowers before a memorial wall for the earthquake, and expressed his condolences for the quake victims.Chinese Vice President Xi Jinping (L, front), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with an worker at an ore wharf in Caofeidian port, Tangshan City of north China's Hebei Province, July 18, 2010. Xi Jinping paid an inspection to Tangshan from July 17 to July 18.When visiting a local dock and a train factory, Xi said the drive to transform China's economic growth pattern should rely on newly developed and high technologies, and called for greater efforts to develop a circular economy in order to attain "energy-saving, environment-friendly and innovation-driven development."He also urged members of the Communist Party of China to solve more practical problems for the public, and said the current official selection and appointment system should be further improved.
HANOI, July 23 (Xinhua) -- Chinese Foreign Minister Yang Jiechi made five proposals to the 17th ASEAN Regional Forum (ARF) here on Friday to enhance regional security.Firstly, Yang said countries should bear in mind the overall situation and interests when dealing with sensitive regional issues, and always safeguard the regional peace and stability.Secondly, Yang said countries should adopt a new security concept by seeking cooperation instead confrontation, and respecting and taking care of each other's core interest and security.Thirdly, countries should respect each other, strengthen political mutual trust, improve and develop long-term, healthy and stable relations.Fourthly, countries should exercise restraint when disputes arise and settle disputes through peaceful means.Fifthly, countries should make use of multilateral mechanism like Shanghai Cooperation Organization, ASEAN Regional Forum and Six-Party Talks to promote common interest and common security.Yang said on one hand, the situation in Asia-Pacific region is generally stable. On the other hand, the unstable and uncertain factors are increasing.Yang said ARF could serve as a security dialogue platform to push for mutual trust among members. Yang also urged ARF members to strengthen cooperation on non-traditional security issues including anti-terrorism, disaster relief, non-proliferation and maritime security.ARF comprises 27 members including the ten ASEAN member states namely Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, the 10 ASEAN dialogue partners namely Australia, Canada, China, the European Union, India, Japan, New Zealand, the Republic of Korea, Russia and the United States, and seven other countries in the Asia and Pacific region namely Bangladesh, the Democratic People's Republic of Korea, Pakistan, Mongolia, Sri Lanka, Timor-Leste, and Papua New Guinea.