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BEIJING, April 2 (Xinhua) -- China needs to expand the Renminbi, or yuan, cross-border settlement efforts when conditions allow, the People's Bank of China (PBOC) said Friday."It is necessary for China to seek appropriate timing to expand the cross-border yuan settlement to more cities, enterprises and overseas pilot areas," said an international financial market report released on the central bank's website Friday.But the report did not detail the conditions for appropriate timing.The foreign trade volume settled in yuan is still small compared with China's total foreign trade volume, said the report, without specifying figures.Official figures from China's General Administration of Customs showed that the country's exports in 2009 stood at 1.2 trillion U.S. dollars, down 16 percent from 2008.China's State Council, or Cabinet, announced in April 2009 a pilot program to allow exporters and importers in five cities -- Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan -- to settle cross-border trade deals in yuan.The latter four cities are all in south China's Guangdong Province.The Bank of China (BOC), China's largest foreign exchange bank, announced on July 6 last year that its Shanghai branch had received the first cross-border yuan trade settlement deal from the BOC (Hong Kong).The government is considering enlarging the scope of cross-border yuan settlement from commodity trade into service trade, said the report.Yuan settlement was in accordance with the market demand, said Cao Honghui, a researcher with the Chinese Academy of Social Sciences, but increasing the yuan's global acceptance would be decided by factors such as the country's economic development and the financial system development.
WUHAN, April 16 (Xinhua) -- China's top political advisor Jia Qinglin underlined building of "an environment-friendly and resource-saving society" when paying an inspection tour to central China's Hubei Province from Monday to Friday.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, went to several of Hubei's cities including Wuhan, Huanggang and Xianning, visiting enterprises, scientific institutes. He also visited villages and counties in the province.He urged more efforts to be made for adjustment and optimization of the industrial structure and for the country's economic growth pattern transformation to be accelerated. Jia Qinglin (2nd R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits FiberHome Technologies company in central China's Hubei Province, April 14, 2010. Jia made an inspection tour in Hubei on April 12-16.He stressed the importance of energy saving and environment protection, particularly in the fields of new and renewable energy development, ecological construction and promotion of a low carbon life style.He also expressed much concern for the victims of the Yushu earthquake in Qinghai Province, and urged government at all levels to help in whatever way possible to save lives. Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, visits residents at Yijiadi Village of Chibi City, central China's Hubei Province, April 16, 2010. Jia made an inspection tour in Hubei on April 12-16.

BEIJING, May 24 (Xinhua) -- Clean energy projects, specifically new energy vehicles, energy-efficient construction and clean coal technology, are the key areas of science cooperation between China and the United States, a Chinese official said here on Monday.According to a new agreement between the two countries, they will invest in joint laboratories, and support research in related areas, Cao Jianlin, vice minister of science and technology of China, told a news briefing on the second China-U.S. Strategic and Economic Dialogues."Both China and the U.S. are the major car production and consumption countries thus both seek to develop new energy vehicles," said Cao.China is the biggest construction market in the world and a major coal consumption country, while the U.S. is also eyeing energy conservation in construction and coal consumption, he said.The U.S. is a country with advanced technologies, and China also has cutting-edge technologies regarding energy applications. The complementary cooperation between the two will benefit both Chinese and American people, Cao added.
BEIJING, May 29 -- The Asian Development Bank (ADB) has called on Asian economies to strengthen their infrastructure investment through an effective financing framework to achieve higher and more sustainable growth.To that end, the bank said that as much as 0 billion would have to be invested annually in infrastructure across the region from 2010 to 2020. This means that around .25 trillion would be invested in that period in national and cross-regional infrastructure projects."In view of Asia's enormous untapped economic potential and the global financial crisis, now is the time to build efficient and seamless connections across Asia and with the rest of the world for a more competitive, prosperous and integrated region," said Masahiro Kawai, dean and CEO of the ADB Institute.A man working at the construction site of a railway line in Hainan province. The required infrastructure investment in the next 10 years is expected to produce income gains of about trillion across Asia.To meet the financing needs, the region could build an effective framework to mobilize its vast domestic savings as the main source, while encouraging private financing and participation involving public-private partnerships through "bankable" projects, said Kawai.He also suggested the strengthening of national and regional local currency bond markets, notably through the Chiang Mai Initiative, the Association of Southeast Asian Nations + 3 bond market initiative, and the Asian Bond Fund.
ULAN BATOR, June 1 (Xinhua) -- Visiting Chinese Premier Wen Jiabao and his Mongolian counterpart Sukhbaataryn Batbold agreed Tuesday to deepen bilateral cooperation in various areas including energy, trade and environmental protection.China and Mongolia should strengthen exchanges and cooperation and advance the partnership of good-neighborliness and mutual trust between the two countries, Wen said in talks with Batbold in Ulan Bator, Mongolia's capital.China is ready to maintain exchanges of high-level visits with Mongolia, said the Chinese premier, who arrived earlier in the day for a two-day official visit.He said the two nations should strengthen mutual political trust and continue to extend firm support to each other on major issues concerning their respective core interests.Chinese Premier Wen Jiabao (L) shakes hands with his Mongolian counterpart Sukhbaataryn Batbold in Ulan Bator, Mongolia, June 1, 2010. Wen also said the two sides should adopt practical measures to deepen their trade and economic cooperation and make efforts to promote cooperation in mineral resources development, infrastructure construction and finance.China is also willing to boost cooperation with Mongolia in energy, environmental protection and transportation, he added.During the talks, the Chinese premier pledged continued support and assistance for Mongolia's economic and social development.He suggested that the two sides launch a feasibility study at an early date on a China-Mongolia free trade area (FTA).As an effort to promote cultural exchanges, Wen said China will offer 2,000 government scholarships to Mongolian students in the next five years.Batbold said Mongolia is ready to increase cooperation with China in such areas as finance and environmental protection.Expressing support for a FTA, he said Chinese enterprises are welcome to expand investments in Mongolia and participate in the country's infrastructure construction and the development of mineral and energy resources.Batbold said trade and economic cooperation with China, Mongolia's largest trading partner and biggest source of investment, has been fruitful in recent years.Mongolia highly values its relations with China and will adhere to the one-China policy, said the Mongolian leader.He also said Mongolia will steadfastly support the Chinese government's position on the issues of Taiwan and Tibet.The two sides also pledged to work together to safeguard regional peace and stability.Mongolia is the third leg of Wen's four-nation Asian tour, which has already taken him to South Korea and Japan. He will also visit Myanmar.
来源:资阳报