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BEIJING, April 27 -- The yuan will remain stable against the U.S. dollar as China will take a cautious and stable position in its foreign exchange investment.     The Chinese currency gained against the US dollar in the past week and ended at 6.8273 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8311 by the end of the previous week.     China will continue its policy of diversifying its huge amount of foreign exchange reserves, the currency regulator said last Friday.     Hu Xiaolian, head of the State Administration of Foreign Exchange, told Xinhua news agency that it will stick to major currencies and high-quality assets in its foreign exchange investments.     China's overseas earnings hit 82.5 billion U.S. dollars in the past year, an 8-percent rise from a year earlier, according to data released by the administration last Friday.     Hu also noted the positive outlook of China's economy has lessened concerns over a depreciation in the yuan.

BEIJING, June 24 (Xinhua) -- The Chinese government's fiscal revenue in the first five months of 2009 reached 2.7 trillion yuan (400 billion U.S. dollars), down 6.7 percent from the same period of last year, Finance Minister Xie Xuren said Wednesday.     Xie revealed the figure in a report to the ninth session of the Standing Committee of the 11th National People's Congress (NPC), China's top legislature.     Of the total, the central government collected about 1.4 trillion yuan, down 14 percent. This accounted for 39.6 percent of the annual budget.     Local governments collected the other 1.3 trillion yuan, up 2.9 percent, which accounted for 42.4 percent of the annual budget.     Xie cited four factors for the drop in fiscal revenues: a fall in international trade due to the global economic downturn; a fall in revenue value relative to the consumer price index and producer price index; structural tax reduction polices and a slowdown in China's economic growth.     Structural tax reduction policies reduced taxes by about 230 billion yuan in the first five months, according to the report.     He said in the first five months, fiscal expenditure nationwide amounted to almost 2.25 trillion yuan, up 27.8 percent over the same period last year, accounting for 29.5 percent of the budgeted figure.     Central government expenditure totaled 459.3 billion yuan, up 21.4 percent, while local governments spent 1.79 trillion yuan, up29.5 percent, he said.     The funding went mainly to expanding public investment, increasing subsidies for low-income groups, ensuring sufficient money for education, health, social security, employment, basic housing and culture, and supporting technological innovation, energy conservation and emission reduction.     Xie stressed that the government would continue to ensure the stable growth of investment and actively implement structural tax reduction policies to ease the burden on business and consumers. Doing so would encourage companies to invest and individuals to consume.     "Efforts should be made to boost revenues and cut spending," he said, calling for frugality and strict control of expenditures by reducing government vehicle purchases, reception fees and official travel.     He said: "The construction of government and Party committee buildings should be rigidly limited."     The government would promote the scientific and meticulous management of public finances, boost efficiency and deepen fiscal system reform, he said, adding that resource tax reform would be advanced and the consumption tax system would be adjusted.     Xie said the outstanding national debt reached 5.3 trillion yuan at the end of last year, which was within the 5.5-trillion-yuan limit in the annual budget.     The government's fiscal revenue reached about 6.13 trillion yuan last year, 19.5 percent more than in 2007.     Xie said the central fund for reconstruction from last year's May 12 earthquake reached 74 billion yuan and expenditures were 69.77 billion yuan last year.     This year, the central budget allocated 130 billion yuan for reconstruction work. 

L'AQUILA, Italy, July 9 (Xinhua) -- Chinese State Councilor Dai Bingguo on Thursday called for concerted efforts to tackle various global challenges at the leaders' meeting of the Group of Eight (G8) and five leading emerging economies (G5).     Dai, who attended the summit on behalf of Chinese President Hu Jintao, delivered a speech entitled "Striving to push forward global economic recovery and enhance regulation of the world economy" to the meeting held in the quake-torn Italian city of L'Aquila, according to a press release issued by the Chinese delegation.     Hu cut short his stay in Italy and skipped the G8 meeting due to the situation in China's Xinjiang Uygur Autonomous Region. He returned to Beijing Wednesday.     In the speech, Dai expounded China's position on major international issues.     Dai called for more international efforts to push for recovery of the world economy, saying that against the backdrop of economic globalization, the macro-economic policies adopted by one country, especially by a major economy, would exert an impact on other economies.     "So when we promulgate a policy aimed at economic recovery, we should not only put into consideration our own interests, but also have to cast eyes on the interests of other countries," Dai said.     The international community should strengthen communication in this regard, he said.     The state councilor said the "primary task" now was to implement the results achieved at the G20 summits in Washington and London, so as to ensure the momentum and effectiveness of economic stimulus packages.     He also urged the international community to abide by the principle of opening markets, opposing protectionism in various forms and safeguarding the normal and orderly movement of goods, services and personnel across borders.     Dai also appealed for an accelerated process of the Doha Round talks of the World Trade Organization, said the press release.     Leaders of the G8 industrialized countries and five leading emerging economies -- India, China, Mexico, Brazil and South Africa -- met on Thursday to discuss economic issues, climate change, trade and other international issues.     On the current international financial crisis, the state councilor said the international community has already reached consensus on reforming the global financial system, but the key lies in the implementation of the consensus.     In the short term, the reform is aimed at stabilizing the international financial market and boosting the growth of real economy, but the reform should be far-sighted, he said.     In the long run, the reform should be aimed at enhancing regulation of the international financial system and safeguarding order of the global financial market, so as to avoid the recurrence of a similar crisis, he added.     The state councilor stressed that representation and voting rights of developing countries should be increased in the International Monetary Fund and the World Bank.     He said developing countries should participate as equal partners in the policy-making process in setting international financial standards and regulation.     Dai also urged the international community to improve global financial supervision, the press release said.     The state councilor appealed for maintaining the stability of major international reserve currencies, but he did not mention the U.S. dollar in his speech.     He urged the international community to improve the international monetary system in a bid to make it diversified and rationalized.     The state councilor also briefed the leaders on China's efforts to tackle the global financial crisis, saying the measures taken by the Chinese government have proven effective.     Noting that the international financial crisis has brought considerable difficulties and challenges to China's economy, Dai said the Chinese government has adopted a series of resolute measures to tackle some thorny issues and these measures have seen initial achievements.     The measures include a proactive fiscal policy and a moderately easy monetary policy, a stimulus package worth 4 trillion yuan (about 587 billion U.S. dollars) designed to expand domestic demand, and a tax-cut package of 500 billion yuan (around 73 billion U.S. dollars), Dai said.     China also has striven to readjust its economic structure, accelerate infrastructure construction, seek balanced development between urban and rural areas, and improve social security system and people's life, Dai said.     Thanks to these measures, China's gross domestic product (GDP) rose 6.1 percent year on year in the first quarter of this year, he added.     According to a press release by the Chinese delegation, in the first five months of this year, on a yearly basis, the fixed-asset investment in urban areas jumped by 32.9 percent in China, the retail sales grew by 15 percent, and the industrial output increased by 6.3 percent.     The state councilor said China would continue to cooperate with the international community to fight the international financial crisis, and would continue to make due contribution to the recovery of world economy.     In his speech, Dai also called for joint efforts from the international community to tackle global challenges such as climate change, food and energy security.     Dai said global challenges such as climate change, food and energy security are common problems facing the whole world, and therefore need joint efforts to cope with.     On climate change, Dai said the international community should continue to insist on the core status of the UN Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol, and abide by the principle of "common but differentiated responsibility" established by the two documents.     The international community should take actions in line with the "Bali Road Map" and take into account different conditions of various countries, so as to push for the success of the upcoming Copenhagen Conference on climate change scheduled for December this year.     On food security, Dai called for increased investment in agriculture, enhanced market monitoring and the establishment of assistance mechanisms.     On energy security, he proposed a series of measures including setting up a system of energy technology research and development, diversifying energy supply, developing new energy and renewable energy, and improving energy efficiency.

BEIJING, July 1 (Xinhua) -- The Purchasing Managers' Index (PMI) of China's manufacturing sector stood at 53.2 percent in June, the China Federation of Logistics and Purchasing (CFLP) said Wednesday.     The figure was up 0.1 percentage points from May, when the index fell 0.4 percentage points from the previous month.     A reading of above 50 suggests expansion, while below 50 indicates contraction.     The PMI includes a package of indices that measure economic performance. The survey, conducted by the National Bureau of Statistics, covers purchasing and supply managers at more than 700 firms across China.     The output index was 57.1 percent, up 0.2 percentage points from a month ago. The new order index fell to 55.5 percent from 56.2 percent in May and 56.6 percent in April.     The purchasing price index climbed 4.7 percentage points to 57.8 percent, the seventh monthly increase since December.

BEIJING, April 24 (Xinhua) -- Chinese Vice Premier Li Keqiang has called for stepped-up recycling to achieve better use of resources.     Li made the comments during a visit to pilot enterprises Thursday. He also attended a forum on the development of recycling economy.     Li emphasized the importance of recycling and urged companies to cultivate new areas of economic growth, as the global financial crisis still weighed on the real economy. Chinese Vice Premier Li Keqiang (2nd R Front) listens to an official of Shenhua Group Company introducing how to realize the development of the recycling economy in Beijing, capital of China, April 23, 2009. Promoting recycling would not only improve the use of resources and protect the environment, it would also help companies become more profitable, he said.     Enterprises should employ advanced technology and equipment and improve their management to achieve the most efficient use of resources with the lowest level of pollution and wastes, he said.     Li stressed technological progress and innovation, especially in key industries and major enterprises, and called for increased investment to support the development of recycling.     From late April to August, about 100 academicians, experts and work staff would be sent to companies and grassroots units nationwide to do research and provide guidance on recycling.