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WASHINGTON, Sept. 20 (Xinhua) -- U.S. President Barack Obama said Monday that China's rapid economic development is in the interest of U.S. economy."It's good for us that China has done well," Obama said at a town-hall-style meeting telecast live on CNBC before heading to Pennsylvania to raise money for a Democratic Senate candidate.His address is in line with U.S. Secretary of Treasury Timothy Geithner's testimony to the Congress last Thursday."We have very significant economic interests in our relationship with China," Geithner said, "a strong and growing China benefits the United States, just as a strong and growing United States is good for China."In responding to a question about China's currency issue, Obama said that China's currency is lower than the market says that it should be, but trade is in the benefit for both sides."I just want to make sure trade is good for American businesses and American workers," Obama said."We are going to continue to insist that on this issue, and on all trade issues between us and China, that it is a two-way street, " he said.Facing November elections shaped by voter anger at the sour economy, U.S. lawmakers are weighing bills that would slap sanctions on Chinese goods, amid accusations that China keeps its currency -- and thereby its exports -- artificially cheap.The Obama administration acknowledged that China's imports supported the global economy and contributed substantially to recovery around the world.With over 1.3 billion people and an economy continuing to grow at or near double-digit rates, China is the U.S.' fastest-growing major overseas market.China's record of bringing hundreds of millions out of poverty, building a rapidly growing middle class, and now its efforts to encourage growth led by domestic demand, ultimately mean more demand for American goods and services.In order to pull the economy out of recession, Obama launched National Export Initiative (NEI) in March and set the goal of doubling the U.S. export in five years and creating two million jobs in the country.The Obama administration is clear that the vast Chinese market is a crucial part to fulfill the goal."Increasing opportunities for U.S. firms and workers through expanded trade and investment with China will be an important part of the success of the President's National Export Initiative and our efforts to support job growth more broadly."According to the Treasury Department, China is a critical market for a broad range of American products, from agriculture, to manufacturing, to services.China was the largest market for U.S. soybeans last year, importing over 9 billion dollars.In the manufacturing sector, the United States has already exported nearly 3.5 billion dollars in aircraft to China this year alone, and U.S. exports of automobiles and parts to China have grown over 200 percent.The issues in China and U.S. economic relations and trade should be properly solved through consultations on an equal footing. Exerting pressure cannot solve the issue. Rather, it may lead to the contrary, China's Foreign Ministry said recently.

BEIJING, Sept. 1 (Xinhua) -- Chinese government Wednesday announced guidelines designed to boost the development of home services industry across the country, vowing financial support and tax cuts."The home services industry plays an important role in creating jobs. It also improves people's living standards and expands domestic demand, helping adjust China's economic structure," said a statement issued after an executive meeting of the State Council, China's Cabinet, presided over by Chinese Premier Wen Jiabao.The government will prioritize development of housekeeping services, community services, senior citizen care, and home care for the sick to meet the basic needs of families, the statement said.Delivery of household necessities and home education may also be developed in line with local conditions to meet the special needs of households, the statement added.The government encourages business people to invest in the home services industry to nurture a domestic home services market, it said.The statement also said public employment service providers must improve their services and offer free career counseling for home service providers.The government also promised to intensify supervision of home service companies to safeguard consumer rights.It also promised to take measures to safeguard service providers' rights to reasonable salaries.

BEIJING, Sept. 28 (Xinhua) -- General Secretary Hu Jintao of the Central Committee of the Communist Party of China (CPC) Tuesday sent a message to Kim Jong Il, top leader of the Democratic People's Republic of Korea (DPRK), to warmly congratulate him on his reelection as general secretary of the Workers' Party of Korea (WPK)."On behalf of the CPC Central Committee and in my own name, I hereby extend my warm congratulation on the successful holding of the conference of the WPK, on your reelection as general secretary of the WPK, and on the reelection and formation of a new highest leading body of the WPK," Hu said in the message.For many years, the WPK headed by Kim Jong Il has led the entire Korean people to be self-reliant, to struggle arduously and to make great achievements in the cause of building Korean-style socialism.Over recent years, the Korean people have made a series of delightful achievements in building the DPRK into a strong and prosperous nation, in developing the national economy, in improving the people's livelihood, etc, according to the message.China and the DPRK have profound traditional friendship, close geographic relations and extensive common interests.To strengthen and develop China-DPRK friendly and cooperative ties is an unswerving policy of the CPC and the Chinese government.Despite the ups and downs of the international situation, we will always handle, maintain and boost China-DPRK relations from a strategic height and a long-term perspective, according to the message."We are willing to make joint efforts with the DPRK to continuously promote China-DPRK relations to a higher level, in order to better benefit the two peoples and make greater contributions to realizing lasting peace and common prosperity in the region," Hu said in the message."I sincerely wish General Secretary Kim and the WPK to keep making new and greater achievements in the cause of leading the DPRK people building a strong and prosperous country," he said.

GUANGZHOU, Nov. 7 (Xinhua) -- Authorities in south China's Guangzhou, host city of the 2010 Asian Games, Saturday said it will cancel a newly-launched free public transportation service due to the enormous public response, which might pose a security threat to the Asian Games.The government earlier this month launched the color-coding scheme for vehicles, effectively grounding half of the city's 2.1 million private cars and those entering the city each day during the Asian Games.As a remedy, free public transport service was to be offered for 30 working days beginning November 1.The offer was met with unprecedented enthusiasm from Guangzhou residents. For days, subway trains were often crammed and stations were full as swarms of people lined up to take a free ride.Now, officials with Guangzhou's transportation authorities said they had to rescind the offer as more than 8 million passengers took the subway on an average day beginning November 1, a figure "much, much higher" than the subway system was designed to carry.Further, traffic controls were put into force 144 times during the week, which "seriously affects the normal security checks required for the Games" and causes "great inconvenience," officials said.Guangzhou authorities plan to roll back the free-day scheme on Nov. 8 and replace it with a cash subsidy program in which each household in Guangzhou will receive 150 yuan as a transportation subsidy from the government.The Asian Games are scheduled to begin on November 12, featuring 11,700 athletes competing in 42 sports.

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.