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BEIJING, March 6 (Xinhua) -- A 17 percent year-on-year increase in China's broad money supply, and a target of 7.5 trillion yuan (1.1 billion U.S. dollars) for this year, indicated a relatively easy monetary policy, said Su Ning, deputy governor of the People's Bank of China, the country's central bank.Speaking on the sidelines of the ongoing annual session of the top legislature, the National People's Congress (NPC), Su said the 17 percent increase in the nation's broad money supply was larger than the combined increase of targeted GDP and CPI growth, which suggested an "easy" monetary policy."If M2 (the broad measure of money supply) growth is 2 to 3 percentage points higher than the combined growth of GDP and CPI, the monetary policy could be seen as easy," said Su.Chinese Premier Wen Jiabao said Friday, in the government work report submitted to the NPC, that China targeted an approximate 3 percent rise in consumer prices and 8 percent GDP growth this year.Su further believed the 17 percent increase in the broad money supply would be able to support the ongoing economic recovery throughout the country.China's financial institutions lent a record 9.6 trillion yuan in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy amid the global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.Su said the 7.5 trillion yuan in new lending this year should speed up completion of projects under construction, rather than support new projects.

BEIJING, Feb. 28 (Xinhua) -- Some foreign diplomats and journalists based in Beijing Sunday were invited to watch Road of Rejuvenation, a music-and-dance epic highlighting China's twists and turns in the past 170 years.The gala at the National Center for the Performing Arts (NCPA) was presented by more than 1,000 performers, featuring China's modern and contemporary history with chorus, dances, and stage screens.Iwona Rogacka-Hu, an officer with the Embassy of the Republic of Poland, said every step of the country's progress was presented clearly in the epic gala and she was moved by the themes of the mother and motherland.Peter A. Fischer, a Swiss correspondent with Zurich Times (NZZ) Beijing Office, said he saw many battles and difficult times in China's modern history through the show."I hope these will never come again, and China will grow more prosperous and open further up," Fischer said.The gala was produced to mark the 60th anniversary of the founding of the People's Republic of China in October 2009. It debuted in Beijing on Sept. 20 last year.Zhang Jigang, director of the show, said so far 40 performances had been staged at the NCPA, and there are 40 more to go."The tickets for the upcoming shows have been sold out," said Wang Zhengming, vice president of the NCPA.Zhang said the gala had been filmed and would be available in cinemas soon.

SHANGHAI, Feb. 1 (Xinhua) -- Top Chinese legislator Wu Bangguo has urged Shanghai to take the opportunity of hosting the World Expo to pioneer the country's transformation of economic development mode. Wu, chairman of the Standing Committee of the National People's Congress, China's top legislature, made the remarks during his visit to the country's economic and financial hub from Jan. 28 to Feb. 1.  Wu Bangguo (C), chairman of the Standing Committee of China's National People's Congress (NPC) visits the 2010 World Expo site in Shanghai, east China, Jan. 29, 2010. Wu visited Shanghai from Jan. 28 to Feb. 1.Accompanied by Yu Zhengsheng, secretary of the Shanghai Municipal Committee of the Communist Party of China, Wu visited the Expo Site as well as some high and new tech enterprises in the city.Shanghai must spare no effort in hosting the Expo and seize the opportunity to promote economic restructuring and industrial structural upgrading, to boost the development of modern service industry, and to speed up fostering emerging strategic industries, Wu said."Wu must make technological breakthroughs, speed up industrialization process, and develop emerging industries such as smart grid, low-carbon technology and biomedicine, so as to make sure the country can have the initiative in the new round of international economic competition," Wu said.The 2010 World Expo was scheduled to be held from May 1 to Oct. 31 in Shanghai, expected to attract a record total of 70 million visitors from home and abroad.

BEIJING, March 20 (Xinhua) -- The appreciation of renminbi, or China's currency yuan, will not help tackle the global economic imbalance, economists said here Saturday.The idea that yuan's appreciation would cure global economic imbalance was not going to happen, Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said at the China Development Forum 2010.To solve trade imbalance, countries such as the United States and China should seek measures to encourage domestic consumption, improve social well-being and reform pension system, instead of sticking to the exchange rate issue, Gurria said.The exchange rate adjustment, especially between the United States and China, would not help cut the U.S. trade deficit, while one way to tackle the problem is to loose restrictions on high-technology exports to China, Nobel Prize-winning economist Joseph Stiglitz said.Since China overtook Germany to become the world's largest exporter, the country is facing increasing criticism for devaluating the yuan to earn artificial price advantages. Some U.S. senators have recently ratcheted up pressure on yuan appreciation and urged the government to label China as currency manipulator."If the U.S. government names China as a currency manipulator, quite unfortunately, it will hurt the bilateral relations at least in short and medium term," said Li Daokui, director of the Center for China in the World Economy of Tsinghua University."The two countries should be cooperative to solve the problem, while naming China as a currency manipulator will be no help," Li said."After all, it will not be in the interests of the United States, China and the whole world if the two countries' disputes escalate into a trade war," he said.

BEIJING, Feb. 26 (Xinhua) -- China and Zambia on Friday reaffirmed their commitments to increase the vitality of their decades-old relationship.Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met respectively with Zambian President Rupiah Banda, who was on his first state visit to Beijing since becoming president in 2008. Chinese Premier Wen Jiabao (R) shakes hands with visiting Zambian President Rupiah Banda in Beijing, capital of China, Feb. 26, 2010Zambia was the first southern African nation to forge diplomatic relations with China, Wen said. The two countries' diplomatic ties were established in October 1964.