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WASHINGTON, April 24 (Xinhua) -- China's central bank chief on Friday called for the International Monetary Fund (IMF) to accelerate its process to shift its quota to emerging market and developing countries."The quota structure is the core issue in Fund governance. The severe underrepresentation of emerging market and developing countries in the IMF seriously affects the Fund's legitimacy and effectiveness, and must be promptly corrected," said Zhou Xiaochuan, governor of People's Bank of China at the IMF and its sister institution -- the World Bank's spring meeting in Washington.The Group of 20 (G20) Pittsburgh Summit in September had called for a shift of at least 5 percentage points, and protection of the voting rights of the poorest countries before January 2011.But so far the quota adjustment process is slow. The previous quota reform, which was already approved by the IMFC -- the IMF's steering committee -- in 2008, has not been completed until now.Zhou said that the IMF is a quota-based institution, and quotas should be its primary resource.He emphasized that quota adjustment and reform is not a zero- sum game. "A Fund with a more reasonable governance structure will be better able to protect global economic and financial stability which will benefit all member countries. We urge the Fund to accelerate its work, and complete quota reviews on schedule in accordance with the G20 Pittsburgh Summit and IMFC objectives," Zhou said.According to the IMF's latest World Economic Outlook report, growth speeds of developing countries are much faster than the advanced economies, meaning their weight in the global economy is increasing dramatically.However, quota of the developing countries in the IMF is underrepresented."We expect the review to leave no member's quota share severely misaligned," Zhou said.

BEIJING, May 4 (Xinhua) -- China had raised 4.349 billion yuan (637 million U.S. dollars) of donations in money and materials for quake-hit Yushu as of Tuesday, according to the Ministry of Civil Affairs.The donations included 3.66 billion yuan and quake-relief materials worth 686 million yuan as of 4:00 p.m., said a statement released by the ministry.The post said 635 million yuan, including 79 million yuan and materials worth 556 million yuan, had been channeled to the quake zone.It said 69,353 cotton-padded tents, 143,854 cotton-padded coats, together with other quake-relief materials, had been delivered to Yushu.At least 2,200 people died and more than 100,000 were left homeless when the 7.1-magnitude earthquake hit the Yushu prefecture, Qinghai Province on April 14.
BEIJING, May 17 (Xinhua) -- China hopes the United States will not exclude China when it loosens its export restrictions, Yao Jian, a spokesman with the Ministry of Commerce said here Monday.Yao's remarks came after the United States said over the weekend it might change its exports control regime.The United States should treat all countries equally and not discriminate against China in its export policies, Yao said at a press conference.U.S. Commerce Secretary Gary Locke said in Hong Kong Sunday "concrete proposals" for changes in the exports control could be expected within the next several months.Locke said the review will help with "the sale of highly sophisticated technology that might be embedded in some of the machines and devices like wind turbines, and the software that might operate these very sophisticated systems."The United States' 1979 Export Administration Act limits the export sales of commercial high-technology goods to China. It is considered one of the causes for the trade imbalance between China and the United States.Reform of export restrictions may help the U.S. expand exports and create jobs, Yao said.It would also ease the U.S. trade imbalance and expand Sino-U.S. cooperation, Yao added.Trade volume between China and the United States in the first four months of this year increased 25 percent to 107.18 billion U.S. dollars.As imports are growing twice as fast as exports, China's trade surplus will continue to fall this year, after witnessing a sharp decline from 290 billion U.S. dollars of trade surplus in 2008 to 190 billion U.S. dollars in 2009, Yao said.Locke, who is leading a delegation to promote clean energy technologies in China, will visit Shanghai and Beijing later this week.Locke will meet his Chinese counterpart, Chen Deming, China's Minister of Commerce, in Beijing Sunday on the eve of the start of the Sino-U.S. strategic and economic dialogue.The talks will cover issues of common concern, including bilateral economic and trade cooperation, opposition of trade protectionism and the role of Sino-U.S. cooperation in tackling the global crisis, Yao said.
BEIJING, March 29 (Xinhua) -- China on Monday strongly condemned the bomb attacks in Moscow's metro system, and extended condolences to the families of victims."We strongly condemn the terrorist attack in Moscow subway, and express deep condolences over the deaths," said Foreign Ministry spokesman Qin Gang.He said China supported Russia's efforts in fighting terrorism, and hoped to enhance cooperation within bilateral and Shanghai Cooperation Organization frameworks, to safeguard regional peace and stability.Earlier Monday, Chinese President Hu Jintao sent a telegram to Russian counterpart Dmitry Medvedev to extend condolences over the bombings.Two suicide bombings hit Moscow subway stations on Monday morning, killing at least 37 people and injuring more than 100 on two packed trains during the rush hour, according to Russian officials.It has been confirmed that the rush-hour blasts were set off by two female suicide bombers, who probably were linked to terrorist groups in the North Caucasus.
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