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BEIJING, Oct. 17 (Xinhua) -- Chinese Premier Wen Jiabao expounded on "The Scientific Outlook on Development" for Bruce Alberts, editor-in-chief of the Science Magazine of the United States on Sept. 30. In the two-hour exclusive interview at the Zhongnanhai leadership compound, Wen said the first and foremost principle of the concept of scientific development is to put people first, to make every person attain full and harmonious development in an equal and free environment. He said the comprehensive development came to the second, which means the integration of economic development with social development, the integration of economic reform with political reform, the integration of an opening-up and inclusive approach with independent innovation, and the integration of advanced civilization with traditional Chinese culture. "Thirdly, we need to resolve the disparities, including rich-poor disparity, regional disparity and urban-rural disparity in our country's developmental process. " He added. Sustainable development is also an important part of the concept, which aims at meeting the challenges of population, resources, and environmental protection faced by the 1.3 billion Chinese people in the modernization process. He said. "We want to achieve sustainable development by adopting a resource-conserving and environment-friendly approach." He also emphasized that these four goals could not be achieved without science and technology or without innovations.
KUWAIT CITY, Dec. 27 (Xinhua) -- At the invitation of Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah, Chinese Vice Premier Li Keqiang arrived here Saturday evening on a four-day official visit. Li said in a statement delivered at the airport that he is delighted to pay an official visit to Kuwait, noting that the relationship between China and Kuwait, especially in the fields of trade, energy, finance and culture, has witnessed remarkable growth since the two forged diplomatic relations in 1971. Visiting Chinese Vice Premier Li Keqiang(L in front) walks out of the Kuwaiti International Airport with a welcome delegation headed by Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah(R in front) in Kuwait, Dec. 27, 2008 "China highly values the friendship with Kuwait and will make concerted efforts with the Kuwaiti side to step up the bilateral cooperation to a higher level," Li said. Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has already taken him to Indonesia and Egypt. According to official statistics, China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, a 30 percent growth compared with that of 2006. China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait.

BEIJING, Oct. 18 (Xinhua) -- China Banking Regulatory Commission (CBRC) chairman Liu Mingkang has urged the banking sector to closely watch the impact of the turbulent international financial environment against the domestic financial market and improve capabilities of risk management. Speaking at a recent CBRC meeting focusing on the economic and financial situation in the third quarter, he demanded the country's banking sector learn lessons from the U.S. financial crisis and take measures to raise competitiveness. He outlined several major missions for the country's banking sector: -- implementing macro-economic control policies and making all-out efforts in pushing reform and renovation of the financial system in rural areas. -- continuing to focus on credit risk control and precautions. -- strengthening risk control on overseas investment and actively facing the challenges of turbulence in the international market. -- improving internal management. -- summing up lessons and experience from the global financial crisis and adjusting operating concepts and methods. Liu added the CBRC would enhance its supervision and management on risk and safeguard a stable and healthy development of the country's banking sector
BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading. Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis. "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday. "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said. Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis. It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said. According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year. With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said. Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities. Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said. "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said. In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.
KUWAIT CITY, Dec. 27 (Xinhua) -- At the invitation of Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah, Chinese Vice Premier Li Keqiang arrived here Saturday evening on a four-day official visit. Li said in a statement delivered at the airport that he is delighted to pay an official visit to Kuwait, noting that the relationship between China and Kuwait, especially in the fields of trade, energy, finance and culture, has witnessed remarkable growth since the two forged diplomatic relations in 1971. Visiting Chinese Vice Premier Li Keqiang(L in front) walks out of the Kuwaiti International Airport with a welcome delegation headed by Kuwaiti First Deputy Prime Minister and Minister of Defense Sheikh Jaber Mubarak Al-Hamad Al-Sabah(R in front) in Kuwait, Dec. 27, 2008 "China highly values the friendship with Kuwait and will make concerted efforts with the Kuwaiti side to step up the bilateral cooperation to a higher level," Li said. Kuwait is the final leg of Li's 11-day overseas visit, his first foreign visit since he took office as vice premier in March, which has already taken him to Indonesia and Egypt. According to official statistics, China and Kuwait renewed their record of bilateral trade volume in 2007 with 3.6 billion U.S. dollars, a 30 percent growth compared with that of 2006. China imported 2.3 billion dollars worth of goods from Kuwait in 2007, with 90 percent of oil products, while only exporting 1.3billion dollars of goods to Kuwait.
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