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ROME, Nov. 17 (Xinhua) -- China's experience in eradicating hunger can be learned by other developing countries, the president of the UN International Fund for Agricultural Development (IFAD) said on Tuesday. Speaking to reporters on the sidelines of the World Summit on Food Security, Kanayo Nwanze said China has done a lot both in increasing national funds for agriculture and in supporting other developing countries through strategic rural investments. "I have seen firsthand progress," he said. "China was able in 30 years, from 1978 to 2007, to reduce rural poverty from 30 percent to 1.6 percent through massive investments in rural development and rural areas, focusing on women, right policies andl and access." For Nwanze China can be a role-model for other developing countries. "Through her own experience China is able to collaborate with others in bringing its knowledge and technology to other parts of the world," he said. However, "it is then the recipient country's responsibility to ensure that these experiences are properly used," he added. "China's partnership with developing countries, in particular Africa, is able to assist these countries but it is imperative that the developing countries have themselves the right policies to ensure that the investments reach the rural population," Nwanze said.
BEIJING, Dec. 8 (Xinhua) -- China's exchange rate regulator said Tuesday it would work to promote balance of payment next year by stabilizing exports while expanding imports. The promotion of balance of payment should be the fundamental of the work in 2010 in order to safeguard the nation's economic and financial security, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE). He said SAFE would continue to diversify the investment of foreign reserves, and ensure the safety, liquidity and the value of the mounting assets, which have ballooned to more than 2 trillion U.S. dollars. The authority would also step up supervision of the cross-border money flow to protect national financial safety, he said. Yi also noted SAFE would seek chances to push forward reforms in key areas and links of the foreign exchange management but didn't elaborate.

BEIJING, Jan. 8 (Xinhua) -- China issued a directive Friday that aims to promote renovation of the substandard dwellings in the country's urban areas and at state-owned factories and mines, in a move to improve the livelihood of low-income people. Renovation of squatter homes in cities and at state-owned factories should be completed in the next fives years, according to the directive posted by the Ministry of Housing and Urban-Rural Development on its website. Priority should be given to "the shanty towns covering large areas and with severe safety defects," according to the ministry. It also urged relevant departments to give full respect to the rights and interests of the people living in substandard dwellings, who are mainly low-income laid-off workers, and to ensure that renovating work be conducted in an open and fair way. The directive put forward multiple ways to finance the renovation work, including government funds, favorable loans from financial institutions, and tax rebates. By the end of 2008, China had 11.48 million families living in substandard housing, 7.44 million of which lived in cities, 2.38 million near state-owned plants and mines, 1.66 million in forest zones and reclamation areas.
BEIJING, Nov. 9 (Xinhua) -- China will raise gasoline and diesel prices both by 480 yuan (70.28 U.S. dollars) per tonne from Tuesday, the National Development and Reform Commission (NDRC) announced on its website Monday. The benchmark price of gasoline will be 7,100 yuan a tonne and that of diesel 6,360 yuan a tonne, according to the NDRC. The retail price of gasoline will climb by 0.36 yuan per liter and that of diesel will rise by 0.41 yuan per liter. The country adopted a new fuel pricing mechanism, which took effect on Jan. 1. Under the pricing mechanism, the NDRC will consider changing the benchmark retail prices of oil products when the international crude price changes more than four percent over 22 straight work days. A worker adjusts the price tag at a gas station in east China's Shanghai Municipality, early Nov. 10, 2009. China raised gasoline and diesel prices both by 480 RMB yuan (70.28 U.S. dollars) per tonne on Nov. 10 "Margins of price fluctuations are within expectation. The price hike can help relieve domestic refiners' pressure from soaring oil refining cost," said Wang Jing, an analyst on petrochemical sector with Orient Securities Company Limited. The price hike was aimed to protect oil refiners' interests, ensure market supply and help lead rational consumption to promote energy-saving and emission reduction, the NDRC said. The NDRC would take active measures to help reduce pressure brought to sectors like transportation, the NDRC said. International crude oil price might continue to rise within this year as demand would continue to grow amid global economic recovery, Wang said.
BEIJING, Nov. 4 -- China's increasingly voracious investment in overseas markets is helping the global economy - and especially the economies of developing countries - recover from the financial crisis, according to several speakers at the First China Overseas Investment Fair Tuesday. Chinese officials urged foreign countries to make it easier for that investment to continue to flow by creating a "convenient and fair" environment for Chinese investors. Outbound investment from China in overseas markets has grown significantly recently, at the same time as investment from traditional big spenders, including the United States and European countries, has slowed. "China is stepping up its overseas efforts, despite the economic recession worldwide," said Zhang Xiaoqiang, vice-director of the National Development and Reform Commission. "Many of China's companies are active investors." China's overseas direct investment rose 190 percent year-on-year in the third quarter, bringing the total investment for the first nine months to 32.87 bln U.S. dollars, the Ministry of Commerce announced recently. That growth has been a blessing for many countries recently, Zhang said. Jon Huntsman, the US ambassador to China, agreed, saying China's investment was "important in improving and stimulating the world economy". Huntsman said the US has benefited from the investments of other nations. Between 2003 and 2008, countries invested more than 325 billion dollars in some 4,300 projects in the US. Huntsman said China was "one of the nations with the fastest growing investment in the US" with an annual growth rate in investment volume of 30 percent throughout the 2004-to-2008 period. "China is a leading nation in stimulating the revival of developing economies by way of investment," said Taffere Tesfachew, chief of the Office of the Secretary-General under the United Nations Conference on Trade and Development (UNCTAD). Statistics from UNCTAD shows that in 2008, investment flowing out of the US declined by 18 percent to 312 billion. Flows from EU nations plunged by 30 percent to 837 billion. But emerging economies, and China in particular, increased overseas investment, Tesfachew told China Daily. Nations and regional areas throughout "Africa and Asia could benefit a lot from it," he added. F. Marcelle Gairy, Grenada's ambassador to China, said: "We have great sunshine to grow plants and many other advantageous sectors to tap. China has good technology to realize our dreams." "It is win-win investment," she said. "China's technology is cheaper, innovative and very useful," added Mifzal Ahmed, advisor on investments for the Maldives' Ministry of Economic Development. While the UNCTAD forecasts investment outflows from Asia will slow this year, the organization believes the region will still outperform the rest of the world. "Outflows from China and India are the most noteworthy," said Tesfachew.
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