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BEIJING, Oct. 8 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 181 basis points, or 0.27 percent, Friday to a new record high at 6.6830 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Friday's central parity rate beat the previous record of 6.6936 on Sept. 29.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Friday's central parity, the Chinese currency has strengthened against the U.S. dollar by 2.12 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.2951 Friday, higher from 9.1329 on Sept. 30, the last trading day.The yuan's rate against 100 yen was 8.1040 Friday, compared with 7.9999 on Sept. 30.The Chinese currency fell 61 basis points against the British pound with the central parity rate being set at 10.6079 from 10.6018 on the previous trading day.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.

BEIJING, Oct. 16 (Xinhua) - China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.Liu Shijin, deputy director of the Development Research Center of the State Council, or China's Cabinet, spoke at the OTO Fortune Forum held by the Bank of Communications.As for the year 2010, Liu predicted an annual 10-percent GDP growth due to the economic slowdown in China during the second half of the year.He said China's exports and investments would be much better in 2011 than this year, but the growth rate of consumption would pull back slightly from this year's boom, making 9 percent growth "very likely".To keep its economy on track for sustained growth, however, China still faces three major challenges in the long term, according to Liu's research."The first challenge comes from the rapid rise of labor costs in the country," Liu said, warning: "The competitiveness of Chinese companies will be threatened by rising labor costs unless they find a new source of growth, such as innovation."The second challenge is from liquidity as China's currency, the renminbi, and other non-U.S. dollar currencies are under forced appreciation pressure following the Federal Reserve's considering a new round of quantitative easing of the monetary policy, he said.The greenback, which serves as the world's reserve currency, tumbled against most major currencies this week on expected easing move by the Federal Reserve to pump more money into the U.S. economy next month.Meanwhile, China's economic stimulus package also injected excessive liquidity into the market, pushing up prices of commodities, equities and other land-related assets or resources, he added.The third major challenge concerns whether China can maintain its quick economic expansion in the future, he said.According to Liu's forecast, in the next three to five years China's GDP growth will slow to a moderate speed of around 7 percent from its current 10 percent."Actually, we don't have to be too worried about an economy with moderate expansion," he said, "because the current economic growth is too high for China."

TAIYUAN, Sept. 16 (Xinhua) -- China will flex its muscles to boost the low-carbon economy and green industry, in a bid to help upgrade the development mode of exports, said a senior government official Thursday.Gao Hucheng, Vice Minister of Commerce, said at an energy forum in Taiyuan, capital of Shanxi Province, that China has risen to become one of the world's largest exporters, though it is not a strong exporter yet, remaining at the low end of the global value chain.China's exports leaped in recent decades, mainly dependent upon low labor costs and sales of energy and resources.Further, China needs to put more efforts into producing high-end products and improving their quality through low-carbon and green technologies to expand the share of green products in exports, he said.The global financial crisis hurt the world economy and promoted nations to look to green industry for new growth, he said, and adding strategic new industries could be "a new growth point" for China's foreign trade.China would encourage major products, technologies and services in new energy and energy-saving sectors to tap the global market and support enterprises to invest abroad, Gao said, without giving details.Further, he said there was "no land boundary" in terms of low-carbon and green technology and expected international cooperation in this field.China was opposed to protectionist measures in any form, he added.

BEIJING, Oct. 11 (Xinhua) -- Chinese Vice President Xi Jinping on Monday encouraged younger officials to work at the grass-roots level so they might "learn from the public masses" and "shape character."Xi, also a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, told officials attending a training session on exchanges of cadres between the central and local levels, that working at the grass-roots level was "key to enhancing capabilities, accumulating experience and becoming politically mature."Chinese Vice President Xi Jinping on Monday makes a speech to officials attending a training session on exchanges of cadres between the central and local levels in Beijing.Sixty-six officials from 54 central departments, aged between 41 to 46 years old, attended the training. In return, the same number of local officials is going to soon be assigned to work in central government departments.Xi said training and selecting younger officials were key to the future of the Party and the country's cause, and such exchanges between the central and local levels were an exploration to improve the cadre group's structure and help them enrich experiences.

BEIJING, Sept. 26 (Xinhua) -- The Chinese government Sunday released a white paper on human rights in China in 2009, highlighting the role of Internet freedom and the country's efforts in safeguarding citizens' legitimate civil and political rights."The overall cause of human rights has been promoted in an all-round way," says the white paper, published by the State Council Information Office under the title "Progress in China's Human Rights in 2009."Chinese netizens' right to freedom of speech on the Internet was protected in 2009 and the Internet has become a new channel for the Chinese government to gauge public opinion, and consequently improve its governance, the report reads.It has become "common practice" for governments at all levels to consult the public via the Internet before formulating some policy, it says.It adds government agencies have set up special websites to facilitate the public's reporting of corruption and dereliction of duty among officials.In 2009, the Chinese government promulgated and implemented its first national action plan with human rights as the theme.The National Human Rights Action Plan of China (2009-2010), which applies the Constitutional principle of respecting and protecting human rights to the various fields of politics, economy, culture, social construction, etc., has been "effectively implemented", according to the white paper.Chinese people's standard of living "has been further improved on the basis of economic and social development" after the country put forward a 4-trillion-yuan (596.6 billion U.S. dollars) stimulus package in the wake of the international financial crisis, it says.In 2009, the per capita net income of rural residents was 5,153 yuan, and the per capita disposable income of urban residents was 17,175 yuan, an increase of 8.5 percent and 9.8 percent respectively over the previous year.The white paper is China's 9th report on human rights since the country began releasing the document in 1991.