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YOKOHAMA, Japan, Nov. 13 (Xinhua) -- Chinese President Hu Jintao put forward a five-point proposal on Saturday to promote sound and fast economic growth in the Asia-Pacific region.Hu made the proposal at the 18th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum, which opened here Saturday afternoon.Firstly, Hu asked the APEC economies to "promote balanced growth to create conditions for long-term economic development," saying they should seek balanced growth both within a member economy and among all member economies."We should increase input to help developing members achieve their full potential and narrow the North-South gap," Hu said.He called on APEC members to move toward a more rational division of labor, a more balanced financial and trade structure, more efficient allocation of resources and more equitable sharing of benefits.Efforts by APEC members in this aspect "will contribute to balanced and coordinated global economic growth," he said.Secondly, President Hu said the APEC members should "advocate inclusive growth to boost the internal dynamism of economic development."He called on all members to focus on economic development, uphold social equity and justice and adhere to the people-first principle so that all countries, regions and groups could benefit from economic globalization and development.

BEIJING, Nov. 19 (Xinhuanet) --Chinese companies Thursday denied allegations by a Zimbabwe trade union that said Chinese construction firms had violated labor laws there by underpaying and abusing local staff.Ge Yizhong, deputy general manager of Zim Nantong Construction, which is currently operating in Zimbabwe, told the Global Times that local workers his company had hired were satisfied with their working conditions, including salaries."There is no ill-treatment of workers at my company. We have provided protective clothing to local workers and pay them according to the regulations set out by the local trade union," he said. "We have adjusted working hours to meet workers' demands. We have raised their pay twice since last year to counter the devaluation of the local currency."Commenting on the allegations against Chinese companies, Ge said competition may prompt local unions to make such allegations, as more Chinese companies are doing business in Africa.His defense comes after the Zimbabwe Construction and Allied Trades Workers' Union accused Chinese construction firms operating in Zimbabwe of underpaying workers, forcing them to work overtime without pay and not providing them with protective clothing and pension contributions, Newsday, a Zimbabwe-based newspaper, reported Wednesday."We would like to warn the Chinese contractors who are operating in Zimbabwe that if they do not follow the laid-down laws, the union is going to take strong action against them," the union's secretary-general, Muchapiwa Mazarura, was quoted by the paper as saying.The construction union also said that the deals that the government entered into with the Chinese should not be compensated by Zimbabwe "donating human resources," adding that inhuman treatment of workers should come to an end, the report said.The Affirmative Action Group, a Zimbabwean lobby group, recently wrote to the Harare Municipality asking local authorities to stop licensing foreigners, especially the Chinese, as they were not bringing any real business to the country, according to the report.The trade volume between China and Africa surged from billion in the early 1990s to a historic high of 6.8 billion in 2008 is expected to top the 2008 figure by end of the year, according to China's Ministry of Commerce.Direct investment from China to Africa grew from million in 2003 to .36 billion in 2009.With growing trade between China and African countries and a surge in Chinese businessmen investing in the continent, disputes between Chinese and local Africans are on the rise.In September, there were two cases involving gunmen in Zimbabwe robbing the sites of Chinese construction groups stationed in the country, resulting in property losses and injuries to Chinese nationals, according to the Chinese Ministry of Foreign Affairs.Last month, Zambian police arrested two Chinese nationals who shot at 11 miners and one onlooker at the Chinese Collum Coal Mine in Zambia, the local Lusaka Times reported.Guo Wenchang, president of the Kenya-based China-Kenya Bicycle Manufacturing Company, told the Global Times that Chinese companies are generally welcomed by local Africans, as the Chinese help create jobs in the countries and boost local economies.Lei Xiaolei, a human resources manager for the Tanzania project office of the China Railway Jianchang Engineering Company, told the Global Times that due to an unfamiliarity with the local rules and culture, his company received dozens of labor-related lawsuits 10 years ago when his company began operating in Tanzania."Salaries are paid monthly in China, but here in Tanzania workers are paid every week. There was a lot of chaos concerning payments, but things are improved, as we have tailored our policy to fit the local rules," he said.Dong Baohua, a Shanghai-based lawyer specializing in labor law, told the Global Times that Chinese companies seeking investment in Africa should not be merely focused on making a profit, but also on understanding the local laws and how the local governments are functioning."Some companies falsely believe they can operate their businesses smoothly in Africa by simply building schools or making donations," Dong said."Though some local regulations may not be sound by themselves, understanding them would give Chinese companies a big edge in achieving success and assimilating into the local environment."

BEIJING, Jan. 15 (Xinhua) -- China should steadily promote the internationalization of its currency, the yuan, the head of China's social security fund said Saturday.The internationalization of the yuan is a significant step for advancing the reform of the international monetary system, Dai Xianglong, chairman of China's National Council for Social Security Funds, said when speaking at annual economic forum in Beijing.The current international monetary system has not adapted to the new patterns of global economic development, he said, adding that currency diversification is a realistic solution.Currency diversification means continuing the role of dollar, increasing the role of the euro and internationalizing other currencies, he said.The U.S. dollar, serving as both the U.S. currency and the most important international currency, will be used for U.S. policy goals when the two roles contradict each other, spurring fluctuations in global financial markets, he said, adding that the dollar has a tendency to depreciate.He said the Chinese yuan is a stable currency, and so ensures the safety of other countries' assets.The Chinese currency also enhances world trade, protecting the interests of China's foreign trade and investment, he added.The internationalization of the yuan will take 15 to 20 years, he said, suggesting an expansion of the overseas circulation of the yuan and an acceleration in the opening-up of China's large commercial banks to speed up the process.He urged Chinese banks in foreign countries to offer funding in yuan.He also called for more efforts to reform the interest rate mechanism, to ease the process of the internationalization of the yuan.

WASHINGTON, Dec. 2 (Xinhua) -- China's rapid economic growth is good for the U.S. workers, and the U.S. government is committed to improving bilateral economic relations with China, said U.S. Commerce Secretary Gary Locke on Thursday."China has lifted almost 200 million people out of poverty (in the past two decades). And in the years ahead, hundreds of millions more Chinese will ascend into the middle class," Locke said at a U.S.-China commercial relations forum, which was held in Washington ahead of the U.S.-China Joint Commission on Commerce and Trade (JCCT) session scheduled for Dec. 14-15."The United States welcomes this growth because this is good for the people of China ... it's good for the global economy, and good for U.S. business and ultimately, U.S. workers," said Locke.He noted that as recently as 40 years ago, the commercial relationship between the United States and China barely existed. But in the recent decades, "we have seen our countries grow progressively closer."In 2009, the bilateral trade volume reached some 365 billion dollars. China was the largest supplier of U.S. goods imports in 2009 and was the third-largest market for U.S. exports, only after Canada and Mexico.Locke mentioned that as U.S. Commerce Secretary, he has visited China for four times."Each time I visit China, I'm absolutely amazed by the transformation and the progress within China," he said.Locke noted that although there are disagreements between the two sides, there are more opportunities for cooperation."In many areas, especially in emerging industries, like clean energy and biotechnology, the interests of China and the United States are tied together. And the reform as good for the U.S. will be good for China as well," he added.Locke also revealed that during the upcoming 21st session of the JCCT in Washington D.C., the two countries will seek to further "nurture and improve the most highly-scrutinized bilateral economic relationship on Earth.""This is our most important bilateral dialogue or mechanism for resolving trade and investment issues between our two countries," he stressed.The session will be co-chaired by Locke and U.S. Trade Representative Ron Kirk with Chinese Vice Premier Wang Qishan. U.S. Secretary of Agriculture Tom Vilsack will also join the dialogue.

BEIJING, Jan. 16 (Xinhua) -- China is pinning hopes on its affordable housing programs to cool its red-hot property market in the latest round of campaigns against rising asset bubbles, after the government moved to crack down on market speculation during the past year.Experts held that to increase supplies of affordable housing is the key solution to guide the market toward healthy development and help stabilize prices.During a talk show hosted by China National Radio on Dec. 26, Chinese Premier Wen Jiabao said the government will press forward housing price control and increase the supply of affordable houses for low-income earners.His words came after the government had announced a plan to build 10 million more low-income housing units this year.China is working on a more healthy system that provides housing that meets different demands, after an array of policies, including tighter credit for commercial housing, failed to produce satisfactory results in 2010.In 70 major Chinese cities, home prices rose 0.3 percent month on month and 7.7 percent year on year in November last year, which was the third consecutive month prices rose.China started the construction of some 5.9 million units of affordable homes in 2010, of which 3.7 million were completed, official figures showed.Qin Hong, a researcher with the Ministry of Housing and Urban-rural Development, said the number of affordable homes is still "far from enough", especially as more low-rent homes are needed for China's "sandwich class" families who either are disqualified for low-cost housing or cannot afford the sky-high prices of commercial housing."By attaching more importance to affordable homes and low-rent housing, it seems that the government is leading the market in the right direction," said Zhang Hanya, head of the Investment Association of China.

来源：资阳报