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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.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.

JILIN, Jilin, Nov. 6 (Xinhua) -- A fire that broke out in a northeast China shopping mall lasted 12 hours, leaving at least 19 people dead and 27 injured in the country's worst fire since 2009, government officials said Saturday.The deadly fire sounded an alarm to fire departments throughout the country just four days before national Fire Prevention Day, and has prompted a nationwide campaign to stamp out fire threats during this dry and windy winter season.The mall rescue operation ended at 8:30 a.m. Saturday, nearly 24 hours after the fire broke out at Jilin Commercial Building on Hunchun Road, Jilin City, Jilin Province, Liu Qizhi, a spokesman with the municipal government told reporters. Further, Liu said that 24 of the 27 injured remain hospitalized, but their conditions are stable.On Saturday, officials expressed relief about news that over 80 older women who were trapped in the blaze managed to escape unharmed.Zhang Liying, one of the women, said they were participating in their usual morning dancing group on the mall's fifth floor when the fire broke out."We saw flames and thick black smoke surge from downstairs. We called the firemen, told them where we were, and then climbed out of the window to the balcony, one by one," Zhang said.After being rescued, some of the women tearfully hugged each other following their near-death escape.Businesses started to reopen in the shopping area on Hunchun Road on Saturday night, while insurance company workers and store owners began assessing their losses.Currently, work crews continue combing the ruins of the five-story shopping mall, built in 1987, to determine the cause of the fire. Also, officials report that the complex's general manager has been detained for questioning.An initial investigation points to the fire originating on the mall's first floor, where home appliances and cosmetic products are sold, but soon spread to the fifth floor. Clothes, bed covers, quilts and other highly flammable goods were on display from the second to fourth floors.Following the mall fire, the Ministry of Public Security issued a circular ordering fire departments across the country to learn from the incident, stay on high alert, and review prevention measures to guard against similar incidents.The circular reported that casualties in the Jilin mall fire were the biggest since 2009. Officials said a team of investigators, led by ministry officials, were on their way to Jilin."As the northern region enters winter and temperatures starts to drop in the southern region, fire threats have greatly increased," the circular notes, adding that there has already been a string of fires that caused heavy casualties in October.According to the latest available data, 729 people were killed in more than 89,049 fires that broke out across China in the first eight months of this year.In 2009, at least 945 people were killed in fires across the country , official statistics indicate.

PYONGYANG, Oct. 24 (Xinhua) -- The government of the Democratic People's Republic of Korea (DPRK) held a grand banquet here on Sunday to mark the 60th anniversary of the entry of the Chinese People's Volunteers (CPV) into the Korean front.Premier Choe Yong Rim of the DPRK's cabinet and Vice Chairman Guo Boxiong of China's Central Military Commission joined CPV veterans and hundreds of others on the occasion on the eve of the Monday anniversary.The CPV fought alongside Korean army and people during the war, helped the DPRK win liberation, and defended regional and global peace, said Yang Hyong Sop, vice-president of the Presidium of the DPRK Supreme People's Assembly.He conveyed, on behalf of his country, warm greetings to CPV veterans as well as the Chinese army and people, adding that the DPRK is committed to enhancing its traditional friendship with China and passing it from generation to generation.In his address, Chinese ambassador Liu Hongcai recalled the profound friendship forged on the battlefields between the two peoples and two armies, saying their heroic feats contributed to upholding justice and opposing power politics, and their victory belongs to all peace-loving people across the world.China will always remember all those who had given their lives for peace and make concerted efforts with the DPRK to promote regional and global peace and development, he added.Before the banquet, Chinese delegates watched an adapted Chinese opera masterpiece performed by DPRK artists.

SHANGHAI, Oct. 30 (Xinhua) -- Chinese Premier Wen Jiabao's trip to Vietnam, during which he attended a series of summits between the Association of Southeast Asian Nations (ASEAN) and its partners, enhanced good-neighborly relations, promoted regional cooperation and common development, Foreign Minister Yang Jiechi said Saturday.During his three-day stay in Hanoi, Wen attended the 13th summit between China and ASEAN (10+1), the 13th summit between ASEAN, China, Japan and the Republic of Korea (10+3) and the fifth East Asia Summit. He also had bilateral meetings with some leaders on the sidelines of the summits.When briefing reporters on the outcome of the premier's trip, Yang said that the situation in East Asia is undergoing profound changes, with both opportunities and challenges ahead.Chinese Premier Wen Jiabao (6th L) poses for a group photo with leaders attending the 13th China-ASEAN Summit in Hanoi, capital of Vietnam, Oct. 29, 2010.To boost political mutual trust, promote mutually beneficial cooperation and push for regional integration and sustainable development is the common will shared by countries in the region, and is also the main theme of the summits, Yang said.He said peace, stability and development of East Asia is crucial to China, and that China has always valued and participated in cooperation with East Asian partners.The goal of Premier Wen's trip was to cement good-neighborly relationship, deepen regional cooperation and boost common development, Yang said.During his 48-hour stay in Hanoi, Wen attended some 20 activities, delivered several important speeches, and put forward dozens of proposals, Yang said.The premier also had extensive contacts with leaders of other countries, held in-depth exchanges with them, and expounded in a sincere and objective manner China's foreign policy principles of "building friendship and partnership with neighboring countries" as well as its policy of seeking mutually beneficial and peaceful common development with other countries, Yang said.China's position was hailed by all sides, and Wen's trip further strengthened China's friendly cooperative ties with its neighbors, and boosted East Asia cooperation, Yang said.Premier Wen's pragmatic and highly-efficient trip scored great successes, the top Chinese diplomat said.