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BEIJING, Sept. 20 (Xinhuanet) -- Chinese e-commerce giant Alibaba Group on Sunday turned down the suggestion by Yahoo chief executive officer Carol Bartz that she be allowed to join the board of Alibaba, replying that Bartz should focus on improving Yahoo's own business first.Wang Shuai, chief marketing officer of Taobao.com under the group, said he has been "perplexed" by Bartz's decisions and attitudes since she became CEO of Yahoo in January 2009, claiming: "They demonstrate a lack of appreciation of the Internet, the mainland market and business partners."In response to Bartz's suggestion that she join the board of Alibaba, Wang said: "Perhaps it would not be a bad idea for her to concentrate her efforts on improving Yahoo's current situation."On Friday, Bartz touted Yahoo's 39 percent investment in Alibaba, a day after the Chinese Internet company said Yahoo had rejected its offer to sell the stake back to the group.The 62-year-old executive said the ideal time for Yahoo to exit from Alibaba will be after Taobao.com and Alipay.com, Alibaba's online shopping and payment subsidiaries, go public. She added that she will "probably" join the company's board later this year, when Yahoo gets a second seat on the board under its 2005 agreement with the company.Wang said on Sunday that Alibaba had no plans for Taobao.com to go public.Alibaba sold a 39 percent stake in the company to Yahoo in 2005 for billion and ownership of Yahoo China.The relationship between the two companies has been deteriorating recently, especially after Bartz replaced Yahoo's co-founder, Jerry Yang, to become chief executive of the company.
BEIJING, Sept. 30 (Xinhua) -- Chinese Vice President Xi Jinping said here Thursday that China will join hands with Cuba to strengthen cooperation and promote bilateral relations.Xi made the remarks when meeting with Vice President of the Council of Ministers of Cuba Ricardo Cabrisas Ruiz, who was here to celebrate the 50th anniversary of the establishment of China-Cuba relations.Extending the greetings of China's leadership to President of the Council of Ministers of Cuba Raul Castro Ruz and First Secretary of the Communist Party of Cuba Fidel Castro Ruz, Xi thanked Cabrisas for coming to China to attend the 50th anniversary celebrations.Xi reviewed the history of China-Cuba relations. "The two parties and countries have always had mutual understanding and supported each other since the establishment of ties. The China-Cuba relations have endured the changes of the international situation."China will continue to support Cuba's just fight to maintain its sovereignty and oppose external interference, Xi said.He also spoke highly of the fast development of China-Cuba cooperation in many areas, featuring frequent political exchanges, deepening mutual trust, smooth development of economic relations and trade, expanding cultural exchanges and close coordination in international affairs.Cabrisas said bilateral relations between Cuba and China have witnessed comprehensive development over the past 50 years on the basis of mutual respect, equality and reciprocity.Cuba will further enhance its cooperation with China in investment, trade and tourism, and promote the development of Cuba-China relations and the ties between Latin America and China, Cabrisas said.

BEIJING, Oct. 14 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Thursday as the central parity rate of the yuan was set at 6.6582 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Thursday's central parity rate beat the previous record of 6.6693 on Oct. 13.
BEIJING, Oct. 12 (Xinhua) -- The Chinese government Tuesday announced financial assistance for herders in west China, to reward their efforts in conserving grasslands and to compensate them for losses.From next year, the policy will be applied in eight provincial-level regions including Inner Mongolia, Xinjiang, Tibet, Qinghai, Sichuan, Gansu, Ningxia and Yunnan, said a circular issued Tuesday after a State Council executive meeting presided over by Premier Wen Jiabao.The government will give 90 yuan (about 13 U.S. dollars) per hectare of grassland annually to herders living in the regions where the grasslands are severely damaged and herding has been banned, the document said.Outside of these herding-banned regions, residents will receive 22.5 yuan (3 dollars) per hectare every year if they keep a herd of sustainable size, the document said.The government will also provide 150 yuan per hectare for farmers to grow grass of better quality.In addition, each of about 2 million households of herders will receive 500 yuan per year as general assistance, the document said.More money will also be spent on education and training of herders, the document added."Due to excessive herding and low investment in grassland conservation, the area of grasslands in China has shrank dramatically and the environment there has deteriorated. However, local herders lack new ways to make a living," the document said.The policy is an effort to conserve the natural environment while improving the livelihood of locals, it said.The central government will allocate 13.4 billion yuan every year for the policies, according to the document.
BEIJING, Sept. 11 (Xinhua) -- China's August economic data released Saturday gave relief to market participants, with the figures demonstrating the economy's continued momentum despite the government's tightening measures and moves to cool the property market.Higher-than-expected growth in fixed asset investment, industrial production, retail sales and new loans, as well as the August trade data announced Friday, all pointed to the increasing strength of the Chinese economy.SIGNS OF RE-ACCELERATIONChina's industrial value-added output growth accelerated to 13.9 percent year on year in August from July's 13.4 percent growth, the National Bureau of Statistics (NBS) data showed.The rebound was the first increase in the speed of growth in industrial value-added output this year, after seven consecutive months of decreases in the rate of growth as the government introduced curbs on bank lending to energy-intensive industries and the property market. People buy vegetables in a market in Hefei, capital of east China's Anhui Province, Sept. 11, 2010. The consumer price index (CPI) rose 3.5 percent year on year in August, 0.6 percent higher than in July, the National Bureau of Statistics announced Saturday."It is a good result," the NBS spokesman Sheng Laiyun said, adding the August output data was a mild rebound from the 13.4 percent growth in July and 13.7 percent growth in June, suggesting China's industrial production stabilized from fast expansion in the first half.Retail sales growth accelerated to 18.4 percent in August. Urban fixed asset investment also maintained a strong growth in the first eight months, up 24.8 percent from a year earlier.Further, an unexpected acceleration in China's imports last month pointed to strong domestic demand. Exports grew 34.4 percent year on year in August, slowing from July's 38.1-percent surge, while imports rose 35.2 percent in August, sharply up from the 22.7-percent increase in July, customs data showed Friday.Zhang Liqun, a researcher with the State Council's Development Research Center, said the investment, consumption and exports data were good and suggested that China's economic growth rates will not decline significantly.New yuan-denominated lending picked up to 545.2 billion yuan (80.53 billion U.S. dollars) in August compared with the 532.8 billion yuan in July, the People's Bank of China, or the central bank, said in a separate statement Saturday.China's broad money supply (M2), which covers cash in circulation and all deposits, increased 19.2 percent year on year by the end of August, up 1.6 percentage points from the end of July.The rebound of M2 from July indicated that China's economic slowdown was not as rapid as expected, said Liu Yuhui, economist with the Chinese Academy of Social Sciences."The overall economy is stable and sound. It is heading in the direction expected and as set by the government's macro-economic controls," Sheng said.Earlier figures showed that China's GDP grew 11.1 percent year on year in the first half of the year. But its economic growth rate slowed to 10.3 percent in the second quarter, from 11.9 percent in the first three months the year.
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