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BEIJING, Jan. 7 (Xinhua) -- They are not common diplomatic tools: several paddles, a few ping pong balls and some table tennis players from China and the United States.     But the fact that nine American table tennis players were invited to Beijing for exhibition games with Chinese players in April 1971 did break the ice between the two nations.     Thirty-eight years after those historic games, players from the two nations lined up for a rematch in the Chinese capital on Wednesday.     First came the 1971 U.S. team's youngest member, Judy Hoarfrost.     "When I first came to China in 1971, I didn't know the significance at first. As we went to China right away after the invitation, so we didn't have chance to really learn until we left China," Hoarfrost told Xinhua while warming up for a match with a veteran Chinese player, Qi Baoxiang.     The invitation from China came during the 31st World Championships in Nagoya, Japan where the Chinese team was competing for the first time in two years.     Just two days later, nine U.S. team members crossed into the Chinese mainland from Hong Kong, becoming the first group of Americans to visit the Chinese mainland since 1949.     "My picture with Premier Zhou Enlai was on the front page of all the newspapers around the world. When I went back, everybody was so interested. I was only 15 years old, but they had all questions for me like I knew something special about China. Just because I had been there," Hoarfrost recalled.     "It (Ping Pong diplomacy) is the first step of the march towards the relations between the two countries. It played a very important role," said U.S. Deputy Secretary of State John D. Negroponte at the friendship game, a tribute to three-decade China-U.S. diplomatic ties.     Negroponte was the highest ranking U.S. official to come to China for a series of commemorative events marking the 30th anniversary diplomatic relations.     Although the 51-year-old Hoarfrost lost to Qi by 3 to 11, she said she enjoyed the match. "Ping Pong really can bring people together."     The match not only helped the veterans revive the old memories, but also connected the younger generations between the two nations. U.S. Deputy Secretary of State John D. Negroponte (R) poses with former Chinese ping-pong world champion Liang Geliang during the Friendship Ping-pong Match marking the 30th anniversary of the establishment of the China-U.S. diplomatic relations, at the State General Administration of Sport in Beijing, capital of China, Jan. 7, 2009.     As the representative of the U.S. junior players, Ariel Hsing said she was "very excited to be a Ping Pong diplomat."     After winning the 2nd place Women's Singles at U.S. National Championships last December, the 13-year-old was picked to play in Wednesday's friendship match.     Hsing's fast break play on both sides of the paddle enabled her to beat her Chinese opponent Chen Meng in 15-minute-long match.     "I was just lucky to win. She played very well," Hsing said of Chen, a member of Chinese women team wining the 2008 Asia Juvenile Championship.     "Good job," Deputy Chinese Foreign Minister Wang Guangya told Hsing, a Chinese American born in San Jose, California.     "The rematch helped pass down the old friendship to the younger generation," said Liang Geliang, a top player who played against the U.S. team in Beijing in 1971.     As the finale of Wednesday's match, Liang and Hsing played together against another pair of Qi and Peter Li, the other junior American.     Their two matches went to the wire and ended in a tie, bringing down the house.     Since her first tour in 1971, Hoarfrost has visited China five times, all in the name of Ping Pong diplomacy.     "So many changes in China. People are much better educated now, have much more communications with other countries. People travel out of China and bring back what they learn. People have many more opportunities to learn."     Changes also took place in the China-U.S. relations over the past 30 years. "We now have a very broad and deep relationship in many different walks of lives, politically, socially, economically, and in terms of science and education," said Negroponte.     Looking to the future, Negroponte said there are "many different possibilities" for the U.S.-China relations. "I am sure the next 30 years will be even better."     "I'm very happy to win. I hope I can make it to the 2012 London Olympics," Hsing said with excitement. "I hope to get involved in Ping Pong diplomacy again."     

BEIJING, Oct. 29 (Xinhua) -- China's central bank, the People's Bank of China (PBOC), announced on Wednesday it would cut benchmark interest rates by 0.27 percent to spur economic growth as of Oct. 30.     The benchmark one-year deposit rate would drop to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate would fall from 6.93 percent to 6.66 percent.     This is the second such move in less than one month, highlighted the government's rising concern over the slowing economy and slumping capital market.     The previous was on Oct. 8, when the PBOC announced to cut deposit and lending rates was lowered by 0.27 percentage points and decided to cut the reserve-requirement ratio by 0.5 percentage points from Oct. 15.     "It reflects that the government is worried about a cooling down economy and other domestic problems, amid a deepening U.S.-originated world credit crisis, " said Tang Min, China Development Research Foundation deputy secretary.     China's gross domestic product (GDP) grew to 20.16 trillion yuan (2.96 trillion U.S. dollars) in the first three quarters of this year, up 9.9 percent from the same period of last year.     The growth rate was 2.3 percentage points lower than the same period of last year, and half a percentage point lower than the first half.     "This was also a timely response to the rate cuts by other central banks worldwide and part of a coordinated effort to stem the global financial crisis, " said Tang.     The recent intensification of the financial crisis has augmented the downside risks to growth and thus has diminished further the upside risks to price stability, experts say.     Tang added, the easing in inflation has given room for the authorities to loosen monetary policy. Inflation is no longer a threat with the declining commodities prices.     China's consumer price index (CPI), the main gauge of inflation, rose 4.6 percent in September over the same period last year, off from the 12-year high of 8.7 percent in February.     "A lower interest rate will help domestic enterprises to cut business costs, and boost economic development. This is in line with the country's expectation," Tang noted.     Zhuang Jian, senior economist with Asia Development Bank echoed with Tang, saying a relaxed credit and financing environment is a key factor to enlarging domestic demand and boost consumption.     "Maintaining a fast and sound economic development is the government's top priority currently," Zhuang added.     However, Zhuang noted, monetary policy alone was not enough to boost domestic economy in the long term. Other fiscal policies were also very important.     Guo Tianyong, director of banking research center with Central University of Finance and Economics said, this move was also contribute to rebuilding people's confidence over the poorly-performing domestic stock market and real estate market.     China's stock market dropped more than 66 percent from its peak last October, while real estate prices continue to fall in recent months.     Last week, China announced an array of policies, including tax exemption and mortgage deposits reduction, to boost the falling real estate sector amid the global economic slowdown.     The interest rates on a mortgage for first time home buyers was cut by 0.27 percentage points as of Oct. 27. The floor for interest rates would be lowered to 70 percent of the central bank's benchmark rate, the central bank said.

BEIJING, Oct. 26 (Xinhua) -- China's economy was on sound track but prospects were complicated by the world economic slowdown, said Zhou Xiaochuan, governor of China's central bank, on Sunday.     In a report Zhou made to the fifth session of the Standing Committee of the 11th National People's Congress (NPC), he said the country's economy was developing as expected, but the world economic slowdown added uncertainties to its prospect.     "Our economy is highly reliant on overseas demand. Slacking exports resulted from the global economic slowdown would have a negative impact on the economy," he said.     He suggested the country need to be cautious in adjusting policies because there are both possibilities of cost-driven price rises and possibilities of continuous price falls in the future.     "Currently, inflation pressure mainly comes from rising cost," he said.     He said in the world, more and more economies began to shift their policies from curbing inflation to boosting economic developments amid a world economic recession. The international commodity price is expected to enter a new round of rise.     According to him, the PBOC will adopt flexible and prudent macro-control policies to strive for the stability of the country's financial sectors and promote sound and rapid economic growth.     Zhou said efforts would go to other specific fields, including establishing financial risk monitoring mechanism, enhancing cooperation among domestic and overseas financial organs, and ensuring liquidity in the banking system.     He also urged strengthening foreign exchange management through enhancing cross-border capital flow management and supervision, in a bid to avoid losses and risk caused by speculation activities.     The central bank would keep a close look over the real estate sector and improve financial services in this sector, he added.     Zhou said that the impact of the world financial crisis on China's economy cannot be underestimated. However, the country's economic situation is sound as a whole, and is capable to effectively resist the external impact.     China's financial sectors have grown stronger after years of development. The profit-earning and risk-resistance abilities have been greatly improved, market liquidity is sufficient, and the financial system is sound and safe, he explained.     The fifth session of the Standing Committee of the 11th National People's Congress (NPC) opened its second plenary meeting Sunday morning. Wu Bangguo, chairman of the Standing Committee of the NPC, attended the meeting.

BEIJING, Nov. 14 (Xinhua) -- China's government on Friday pledged to make every effort to ensure the safe release of the crew of a Chinese fishing boat seized by Somali pirates off east Africa.     The Chinese Foreign Ministry issued a statement saying it was still assessing the situation and trying to obtain more information on the vessel, which was overrun late on Thursday.     The ministry would work with organizations abroad to ensure the safe release of the crew, according to the statement.     The vessel, owned by Tianjin Ocean Fishing Company, was hijacked by pirates armed with grenade launchers and automatic weapons off the coast of Kenya and was being held off the southern Somali port city of Kismanyu, according to reports on Friday.     The 24 crew comprised 16 Chinese, one Japanese, three Filipinos and four Vietnamese, according to China's Ministry of Transport.     A Somali pirate leader reportedly said all the crew members were "fine".

BEIJING, Oct. 24 (Xinhua) -- China held a reception here on Friday to commemorate the 30th anniversary of the China-Japan Peace and Friendship Treaty signing, calling on both nations to make joint efforts to further boost bilateral relations.     President Hu Jintao and visiting Japanese Prime Minister Taro Aso attended the reception.     Recalling the history of the Sino-Japanese relations, Hu said 30 years ago senior leaders, including late leader Deng Xiaoping and ex-Japanese Prime Minister Takeo Fukuda, made a strategic decision to sign the treaty.     He called it an important historic document in bilateral ties since the normalization of relations in 1972.     Hu said the treaty had for the first time nailed down the general direction of bilateral ties featuring peaceful co-existence and long-term friendship. He added it had played an important role in pushing forward the ties in a correct fashion.     Since then, peace, friendship and cooperation remained in the mainstream of the relation despite some twists and turns, he said.     The four political documents signed between the two countries had laid a political foundation for the long term stable development of bilateral ties, Hu said, adding both sides had made hard-won progress in cooperation in various areas.     After the normalization of the ties, the political and economic exchanges between the two nations had developed quickly.     On Oct. 23, 1978, China and Japan exchanged documents of ratification of the Treaty of Peace and Friendship during the visit of the then Chinese Vice Premier Deng to Japan. This had become one of the four important political documents (the other three are the joint statement in 1972, the joint declaration in 1998 and the joint statement in May) for the ties.     Hu thanks all those who had contributed to cementing the China-Japan friendship, adding insightful officials of two countries, including the seven Japan-China friendship institutions, had made great efforts to push forward bilateral friendship, despite the variety of domestic and international situations.     The Sino-Japanese relations were at a new starting point to create history and faced important opportunities for further development.     "We are willing to work with the Japanese side to increase political mutual trust, intensify cooperation and friendly exchanges to advance China-Japan strategic and reciprocal relations," Hu noted.     Aso highlighted the bilateral exchanges and cooperation of the past 30 years, attributing the development of the relation to people who were working hard to push forward the ties.     China and Japan are permanent neighbors, and the relations between the two should be in the nature of indispensable partnership. Aso called on the two countries to continue their dialogue and exchanges at various levels and cement consultation and cooperation in aim to achieve joint development and help to promote the stability and prosperity of Asia and the world.     Aso arrived in China on Thursday evening to attend the seventh Asia-Europe Meeting. It was his first visit since taking office last month.