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BEIJING, June 18 (Xinhua) -- China's fiscal risk is controllable as it aims for a balanced economy, a senior finance official said Friday in a call for "growth-friendly" fiscal consolidation of the world economy."According to some indicators, the fiscal risk China is facing is controllable, and China's fiscal development retains sound momentum," said Vice Finance Minister Zhu Guangyao at a news briefing on the fourth Group of 20 (G20) summit.China's budget deficit accounted for 2.9 percent of GDP in 2009 and was expected to stand at 2.8 percent this year, said Zhu."Even facing healthy and sound momentum, the Chinese government attaches importance to balanced and stable economic development," said Zhu.Fiscal consolidation would be a major topic at the Toronto summit, and the G20 leaders would discuss how to maintain robust, sustainable and balanced economic growth, said Zhu.Some European Union (EU) member states have announced austerity plans to cut public deficits in a bid to restore investor confidence in their economies and in the euro, but the fiscal consolidation measures have drawn strong opposition.Zhu said the global economy was undergoing gradual recovery, but still facing some uncertainties, especially with the European debt crisis.

BEIJING, Aug. 8 (Xinhua) -- The Official Report for the Beijing Olympic Games and the Paralympics was unveiled here on Sunday in a bid to provide valuable experience and lessons for futures hosts.The launching of the Report, detailing the planning, organisation and celebration of the two Games, coincided with the second anniversary of the Beijing Olympic Games which opened on Aug. 8 two years ago.The Beijing Olympics official report comprises four volumes telling stories and experiences in the bidding process, the organization and operation, the Games ceremonies and summaries as well as the official competition results.

ASTANA, June 12 (Xinhua) -- Chinese President Hu Jintao wrapped up his Central Asia trip Saturday after visiting Uzbekistan and Kazakhstan, and attending a Shanghai Cooperation Organization (SCO) summit in the Uzbek capital, Tashkent.Hu started his trip Wednesday in Tashkent, where he and his Uzbek counterpart Islam Karimov exchanged views on the current situation and prospects of bilateral ties as well as international and regional issues of common concern.The two leaders signed a joint statement on the further development of the friendly and cooperative partnership between China and Uzbekistan. Chinese President Hu Jintao (7th L) and other participants of the Shanghai Cooperation Organization (SCO) summit pose for a group photo in Tashkent, capital of Uzbekistan, on June 11, 2010Hu and other SCO leaders met in Tashkent on Friday for the annual SCO summit. They discussed strategies for safeguarding security and stability, and increasing pragmatic cooperation in the region.At the summit, Hu delivered an important speech, calling for deepening practical cooperation and maintaining peace and stability in the region. He also put forward a series of proposals for intensifying cooperation within the SCO framework.Founded in 2001, the SCO consists of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Mongolia, India, Pakistan and Iran have observer status.From Tashkent, Hu travelled to Astana for his second visit to Kazakhstan in six months. He paid a working visit to the Central Asian country last December.In Astana, Hu and his Kazakh counterpart, Nursultan Nazarbayev, discussed ways to advance the China-Kazakhstan relations and enhance pragmatic cooperation. They also exchanged views on international and regional issues of common concern.Political analysts say Hu's Central Asia trip is conducive to promoting the SCO's sustained, healthy and stable development and strengthening China's ties with Uzbekistan and Kazakhstan.

BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.

GUANGZHOU, Aug. 9 (Xinhua) -- A man who had allegedly shot dead four people including two traffic policemen last month in south China's Guangdong province went on trial on Monday.The trial opened at an intermediate people's court in Jieyang City, where the suspect is charged with killing the two traffic police officers on July 5.Hu Yihua, the suspect, 29, was involved in two murder cases, police said.He robbed and shot dead a couple at a cinema parking lot in Yiwu City, Zhejiang province, at midnight July 3, and then fled to Guangdong in the victims' Lexus sedan. He disguised the car license plate and then discarded it.While sleeping in the sedan at a highway service zone on July 5, Hu was cornered by two traffic policemen on patrol duty in Jieyang as the car was without a license plate. He shot them dead and fled to Fujian, where he was nabbed on July 8 after more than one thousand police personnel were mobilized in the search for him.The sedan that Hu had stolen, a loaded pistol and identity cards of the slain police officers were found in Hu's possession.The court did not say when it would rule on the case.

来源：资阳报