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GUANGZHOU, Nov. 22 (Xinhua) -- What China can do for the world is not to sell out its massive dollar reserve, but slightly increase its hold of the currency to give reasonable support to the U.S. effort to save its economy, said a senior economist here on Saturday.     It is indeed difficult for China to handle its huge forex reserve, as the U.S. currency has already depreciated 20 percent against the Chinese yuan, said Cheng Siwei, well-known economist at a financial forum held in Guangdong.     "China would suffer from losses if it sells off the dollar, so our strategy should be not to sell, but to slightly increase dollar reserve," said Cheng, also former vice-chairman of the Standing Committee of the National People's Congress (NPC).     Cheng made the remarks amid increasing concern that China might use its forex reserve to finance its 4-trillion-yuan stimulus plan. China held 1.9 trillion dollars worth of forex reserve by September this year.     China "can only afford to do what is corresponding to its level of development and national power amid a global crisis," said Cheng.     "We should be prudent as to how to deal with our forex reserve," said Cheng, noting that China, despite its large size of economy, has its gross domestic product (GDP) accounting for only 6 percent of the world's total, and its per capita GDP ranking falling out of the top one hundred list.

    BEIJING, Jan. 13, 2009 (Xinhua) -- Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, on Tuesday urged the Party's anti-corruption body to "firmly correct official wrongdoings" that harm public interests.     Addressing a plenary session of the CPC Central Commission for Discipline Inspection (CCDI), the ruling Party's internal anti-corruption body, Hu said Party officials should maintain their political integrity and lead the people to overcome difficulties amid hardships. Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, addresses the third plenary session of the 17th CPC Central Commission for Discipline Inspection in Beijing, capital of China, Jan. 13, 2009.     The CPC committees, governments and the Party's discipline organs at all levels had maintained a rigorous crackdown on all forms of corruption since the Party's 17th National Congress in 2007, said Hu, also Chinese president.     He called on the Party's discipline organs to focus on power abuse, bribery and misconduct, pledging that no corrupt officials would be allowed to escape punishment.     "We should be fully aware that the fight against corruption needs long-term, complicated and tough efforts," said Hu.     "In the anti-corruption efforts, we should also pay attention to both punishment and prevention and achieve effects to earn trust from the people and provide solid assurance for reform, development and stability," he said.          ATTACH IMPORTANCE TO PARTY MEMBER'S INTEGRITY     Hu said that in the face of complicated and changing international situations and domestic reforms, the integrity of officials at all levels was vital to keep steady economic growth and social harmony.     Officials' integrity and honesty would determine their behavior at work and off duty, Hu said. Officials should consciously adhere to socialist core value judgments as well as the Party's basic theories and policies.     Self-discipline and supervision must be relied on to cultivate clean and dedicated model leaders and the discipline organs should conduct unremitting education on virtue and morality, Hu said.     To realize the objectives, he urged the CCDI to carry out more education and supervision of Party officials, and ensure against abuse of authority.     Supervision and inspection should also be promoted and implemented in major decision making and deployment in accordance with the scientific outlook on development, Hu said.     The disciplinary organs should also push harder on investigations to corruption cases and deal with corruption problems in most high-risk departments or governmental affairs, he added.     Hu emphasized six aspects in the Party's anti-corruption work for immediate concentration:     -- Party officials should always ask the people for political advices, basic needs and suggestions for resolving social problems, and try harder to take practical measures to tackle public difficulties.     -- Officials should make more efforts to learn Party theories and policies and increase their capabilities to deal with complex situations by applying theory to practice.     -- Officials should always remember their duties and responsibilities endowed by the Party and people, and fulfill their assignment with more devotion.     -- Officials should hold a correct concept of political achievements by respecting and seeking truth in their work.     -- Officials should always prioritize people's interests and refrain from seeking personal gains or furthering their own interests.     -- Officials should maintain the Party's solidity and unity, and strictly abide by Party rules and regulations. They also should increase economic awareness to frugally conduct all undertakings.     Hu urged Party committees at all levels to regard strengthening education on integrity and honesty for officials as an important task in managing the Party by strict rules.     He also encouraged the Party's self-discipline organs to bravely fight all forms of corruption and illegalities, calling on Party committees to support anti-graft work.     Statistics from the commission showed that 4,960 officials above county head level were punished nationwide during the year ending last November.     The session was presided over by He Guoqiang, head of the CCDI. At present were other senior CPC officials Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang.

DESTROYER WUHAN, Dec. 30 (Xinhua) -- A Chinese naval fleet en route to the Gulf of Aden and waters off Somalia for an escort mission against pirates completed its first replenishment at sea Tuesday.     The fleet, two destroyers and a supply ship, has entered the Indian Ocean after a four-day voyage which set sail from China's southernmost island province of Hainan.     In the afternoon, the supply ship Weishanhu successfully refueled the two destroyers Wuhan and Haikou with several hundred tons of oil, an operation that an official for fleet support described as "highly efficient."     The fleet will cruise for about 10 days before arriving in the Gulf of Aden to join a multinational patrol in one of the world's busiest sea lanes endangered by surging piracy.     The recent pirate attack on a Chinese fishing vessel has raised great concern of the Chinese government and people. Statistics showed that some 1,265 Chinese commercial vessels have passed through the gulf so far this year and seven have been attacked.     The UN Security Council has adopted four resolutions calling on all countries and regions to help patrol the gulf and waters off Somalia since June. The latest resolution authorized countries to take all necessary measures in Somalia, including in its airspace to stop the pirates. A helicopter of the Chinese naval fleet attends a landing exercise at night on Dec. 28, 2008, while the Chinese naval fleet heads for the Gulf of Aden. The Chinese naval fleet including two destroyers and a supply ship set off on Dec. 26 for waters off Somalia for an escort mission against piracy

BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao and U.S. president-elect Barack Obama Saturday discussed in a telephone conversation relations between China and the United States and major international issues of common concern, including the ongoing global financial crisis.     In the telephone conversation, Hu expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-U.S. relations, and for advocating the strengthening of China-U.S. cooperation in jointly responding to global challenges and in sharing global development opportunities.     Hu pointed out that since the establishment of diplomatic relations between the two countries 30 years ago, bilateral relations have generally kept developing despite setbacks, scoring hard-earned achievements and bringing about tangible interests to both nations.     As the largest developing nation and the largest developed nation, China and the United States share extensive common interests on issues related to world peace and development, and both assume important responsibility in this regard, Hu said.     In the new historical period of time, China is willing to maintain high-level exchange with the United States and also contacts at all levels, continue strategic dialogue with the United States, increase exchange and cooperation between the two countries in all fields, and strengthen the exchange of opinion and coordination with the United States on major international and regional issues, the Chinese president noted.     China and the United States should respect each other and accommodate each other's concerns, and appropriately settle sensitive issues between the two countries, particularly the Taiwan issue, in order to promote the China-U.S. relations of constructive cooperation to a higher level, he said.     Speaking on the same occasion, Obama said that China is a great nation and that China's development and success meet U.S. interests.     On today's international arena, U.S.-China relations are relations of vital importance. The development of U.S.-China relations is not only in the interest of both nations, but also benefits the world, Obama said.     Saying that U.S.-China relations face many development opportunities, Obama expressed the hope that the United States and China will strengthen cooperation, and promote greater development of bilateral relations, to bring benefits to both nations.     The United States hopes to strengthen consultation and coordination with China on security, climate change and regional hotspot issues, to promote settlement of the relevant issues.     Hu pointed out that the current global financial crisis has seriously impacted economic development and people's livelihood in all countries around the world. The international community should increase confidence, strengthen coordination and have close cooperation, in effectively dealing with this global challenge.     A world economic summit will be held in Washington on Nov. 15, and China attaches great importance to it. China is willing to discuss with other participants in the summit how to adopt powerful measures to reestablish market confidence as early as possible, how to prevent the global financial crisis from proliferation and spreading, and how to diminish its impact on real economies, in a bid to avert a possible global economic recession, Hu said.     The global financial crisis has led to the exposure of many deep-hidden drawbacks of the global financial system.     The international community should earnestly sum up the lessons from the global financial crisis and launch necessary reforms of the global financial system, on the basis of sufficient consultation among all interested parties, Hu said.     In particular, efforts should be made to explore in an in-depth way solution of such major questions as how to strengthen international financial supervision and regulation, how to improve the system of international financial organizations and how to improve the international monetary system, the Chinese president said.     Obama said that settlement of the global financial crisis requires close cooperation by governments of all countries, expressing the hope that the United States and China will strengthen cooperation at the world economic summit planned for November 15 in Washington.

BEIJING, Jan. 19 (Xinhua) -- Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole of 2009.     Wen made the remarks during the second plenary meeting of the State Council, or the Cabinet. The meeting was held here Monday. Participants at the meeting discussed the draft of the government work report, which would be delivered for review at the second plenary session of the 11th National People's Congress in March. Chinese Premier Wen Jiabao presides over the second plenary meeting of the State Council, or the Cabinet, in Beijing, capital of China, Jan. 19, 2009. Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole 2009    The draft would be sent to provincial governments and central departments for advice.     The soliciting advice and revision part was a process to achieve concerted understanding and enhance confidence; a process to counter the global financial crisis and address the difficulties which arose from it; a process to solicit public opinion and make scientific decisions; and a process to improve policies and measures as well as enhance their implementation, Wen said. Chinese Premier Wen Jiabao presides over the second plenary meeting of the State Council, or the Cabinet, in Beijing, capital of China, Jan. 19, 2009Last year was an unusual year for the country, especially the second half of 2008 when the government unveiled a series of measures to counter the negative impacts of the global financial crisis.     "These measures have been proved prompt, correct and effective," Wen said.     "This year is the most difficult year for China's economic development so far this century," he said.     Efforts should be made to enhance the implementation of the government's economic stimulus package and measures announced to boost the country's major industries, he said.     The Chinese government has announced boosting measures for the steel and auto industries, and is planning measures for eight other major industries.     Wen urged departments concerned to speed up work on the making of these boosting measures.     He called for more efforts on agricultural production during the winter and the coming spring, and said favorable policies for farmers should be firmly implemented.     He also called for efforts to promote stable and relatively fast industrial development.     Enterprises should be encouraged to intensify internal management, reduce operating cost, expand markets and stabilize employment, he said, and small and medium-sized enterprises should be given more support.     Work should be done to ensure service and commodity supply during the upcoming Spring Festival as well as boost consumption in both rural and urban regions, he said.     The government should work to maintain stable growth in trade, Wen said, underlining the need to expand emerging markets and improve the quality of exported goods.     Wen also stressed the need for work to ensure the country's financial stability and safety. The government should properly deal with changes brought about by the global financial crisis and maintain sound operation of the banking sector, he said.     More attention should be given to implement the central government's policy to improve people's living standards and solve problems concerning people's interests, he said.     He urged governments at all levels to attach great importance to boosting employment, help people who had difficulties in life, and ensure production safety and social stability.

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