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SHANGHAI, Oct. 18 (Xinhua) -- China will continue to promote gradual exchange rate reforms, even while the yuan is expected to stabilize at a reasonable level, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE) Monday in Shanghai.Yi, also deputy governor of the People's Bank of China (PBOC), or the central bank, made the remarks at a seminar held by the International Monetary Fund (IMF) to discuss the theme "Macro-Prudential Policies -- an Asian Perspective"."The flexibility of the yuan has increased since China launched exchange rate reforms in June. We will further boost those reforms, but the process will be gradual," Yi said."Judging from the markets, the yuan can remain stable at a reasonable and balanced level," he said.China will also continue to expand domestic demand and boost construction in rural medical services, education and infrastructure, he said.Five years ago, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.Since then, the yuan has strengthened further, albeit slowly, and has risen more than 21 percent against the greenback.On June 19 this year, the Chinese central bank announced that it would further reform the yuan's exchange rate mechanism to improve its flexibility.

SHANGHAI, Oct. 16 (Xinhua) -- A total of 1.03 million people visited the Shanghai World Exposition on Saturday, a record number since the Expo opened. The total number also exceeded an earlier record.The Expo had received some 64.62 million visitors by the end of Saturday, the 169th day since the event began on May 1. The previous record was set during the 1970 Osaka World Expo in Japan, which about 64 million people attended over a six month period.Attendance may be increasing since this is the first weekend after the week-long National Day holiday and the second to last weekend before the final seven designated days from Oct. 25-31.Since early this morning, the Expo' s public transportation system has been under great pressure as visitors have been seen throughout the Expo site.Visitors needed to queue up for more than one hour before being admitted to most pavilions. Some popular pavilions, including the Oil Pavilion and Space Home Pavilion, stopped visitors from queuing up by 4 or 5 p.m. because of the large crowds.Many visitors could only walk around, take pictures outside of pavilions, or have picnics at rest area. Further, all parades were canceled due to the large number of visitors.Zhou Qian and Dai Shishi from Hangzhou described the long queues as "horrible". But Zhou said she had been prepared for the situation as they visited seven pavilions, including the Egyptian and Spanish pavilions.A visitor surnamed Zhang and her daughter, a high school student in Shanghai, entered the site at 11 a.m. but had only visited three pavilions by 6:30 p.m."And all of them are small ones. It's not a proper time to come, but it's not easy for my daughter to be free," Zhang said.A series of measures have been taken to deal with the situation, according to the Bureau of Shanghai World Expo.When the number exceeded 700,000 visitors, organizers made announcements to visitors through the World Expo official website, TV Station, mobile televisions, and telecommunication operators.Visitors were persuaded to avoid peak times on televisions seen on subways in the morning, and in the afternoons they were advised not to continue entering the site today.

BEIJING, Sept. 10 (Xinhua) -- China has decided to postpone a negotiation with Japan on the East China Sea issue as part of its response to the seizure of a Chinese fishing boat, said Foreign Ministry spokeswoman Jiang Yu Friday night.The postponed talks, the second governmental negotiations on the principle common understandings on the East China Sea issue, had been scheduled for mid September, according to Jiang.A Japanese court on Friday, despite Chinese protests, ruled a 10-day detention through Sept.19 against the captain of a Chinese trawler which collided with Japanese patrol ships off the Diaoyu Islands in the East China Sea on Tuesday.The Chinese trawler under detention stops at the harbor of Ishigaki, Okinawa, Japan, Sept. 9, 2010. Japan Coast Guard sent the captain of the Chinese trawler which collided with Japanese patrol ships in waters off Diaoyu Islands to prosecutors in Okinawa Prefecture Thursday morning."The Japanese side has ignored China's repeated solemn representations and firm opposition, and obstinately decided to put the Chinese captain under the so-called judiciary procedures. China expresses strong discontent and grave protest," Jiang said."The Diaoyu islands and its adjacent islets have been Chinese territory since ancient times. Japan's acts have violated the law of nations and basic international common sense, and are ridiculous, illegal and invalid," Jiang said."Japan will reap as it has sown, if it continues to act recklessly," Jiang warned.Chinese Foreign Minister Yang Jiechi on Friday summoned Japanese Ambassador to China Uichiro Niwa, saying China's determination to defend its sovereignty over the Diaoyu Islands and the interests of the Chinese people was unswerving.Yang said China demanded Japan immediately and unconditionally release the boat and all the crew, including the captain.On Tuesday, two Japan Coast Guard patrol ships and the Chinese fishing boat collided in waters off the Diaoyu Islands.No injuries were reported, but the fishing boat was then intercepted by the Japanese patrol.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

BEIJING, Oct. 14 (Xinhua) -- China here Thursday questioned the intentions of foreign governments who supported the 2010 Nobel Peace Prize going to Liu Xiaobo, saying those governments had no right to interfere in China's internal affairs."What is the true intention of those foreign political figures and governments who support the granting of the Nobel Peace Prize to Mr. Liu Xiaobo? Is it because they resent China's development path and hate China's political system?" Chinese Foreign Ministry spokesman Ma Zhaoxu questioned.Ma said at a regular news briefing that whether China had chosen the best way to more forward, both politically and socially, was best judged by the development reality in China, and the 1.3 billion Chinese people had the biggest say."China's affairs should be left to Chinese people themselves," Ma said, adding that the few biased individuals with the Norwegian Nobel Committee had no right to judge China, and western governments had no right to interfere in China's internal affairs."We never interfere in other's internal affairs, and will not allow others to interfere in ours, " said Ma.The Norwegian Nobel Committee awarded the 2010 Nobel Peace Prize to Liu Xiaobo on Oct. 8th in Oslo, Norway. Liu was sentenced to 11 years in jail on Dec. 25, 2009 after a local court in Beijing convicted him of agitation aimed at subverting the government.