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ROME, Aug. 4 (Xinhua) -- The recovering of poplar forests in Siyang County in Eastern China's Jiangsu Province is benefiting rural life and agricultural activities, the UN Food and Agriculture Organization (FAO) said on Wednesday.Thanks to a joint program launched more than 30 years ago by the Rome-based agency and Italian plant research labs, new poplar forests have extended from 7 percent to 47 percent and are now covering more than 100,000 hectares of the county's land area.Today the poplar forests play a crucial role in restoring marginal flood plains and stabilizing the river banks. Large swaths of planted poplar trees now protect fields once ravaged by floods, wind, sandstorms and soil erosion, giving boost to agricultural production and benefiting 1 million farmers living in the county.According to the FAO, the Siyang case is an outstanding example of countryside reinforcement triggered by the successful application of the international transfer of germplasm, scientific knowledge and technology."Poplars are very fast-growing and amazingly resilient," said Jim Carle, leader of the Forestry Management Team at FAO. "They can grow in many sorts of ways and can easily integrate with other land uses, making them ideal for supporting animal husbandry, agriculture, aquaculture, viticulture and horticulture," he added.Some of the services provided by these multi-purpose trees include furnishing material for shelter, shade and dwellings, protecting crops and supplying fodder for livestock, as well as offering viable sources of bio-energy.Since the launch of the program the FAO has engaged Siyang farmers and smallholders in new income generating activities. The development of wood industries and resulting job creation has contributed to an improvement of the region's overall economic situation and an increase in the per capita income of both its urban and rural residents.China is now the world's biggest poplar growing country. It has become the key player in poplar cultivation and is able to transfer knowledge and technology also to other regions in Central Asia.

BEIJING, June 19 (Xinhua) -- The People's Bank of China, China's central bank, has decided to proceed further with the reform of the Renminbi exchange rate regime to enhance the RMB exchange rate flexibility, a spokesperson of the central bank said Saturday.The decision was made in view of the recent economic situation and financial market developments at home and abroad, and the balance of payments (BOP) situation in China, the spokesperson said in a statement.In further proceeding with the reform, continued emphasis would be placed to reflecting market supply and demand with reference to a basket of currencies. The exchange rate floating bands will remain the same as previously announced in the inter-bank foreign exchange market, the spokesman said.The spokesperson said China's external trade is becoming more balanced. The ratio of current account surplus to GDP, after a notable reduction in 2009, has been declining since the beginning of 2010."With the BOP account moving closer to equilibrium, the basis for large-scale appreciation of the RMB exchange rate does not exist," the spokesperson said.The PBOC will further enable market to play a fundamental role in resource allocation, promote a more balanced BOP account, maintain the RMB exchange rate basically stable at an adaptive and equilibrium level, and achieve the macroeconomic and financial stability in China, the spokesperson said.China has moved into a managed floating exchange rate regime based on market supply and demand with reference of a basket of currencies since July 1, 2005.The spokesperson said the reform of the RMB exchange rate regime has been making steady progress since 2005, producing the anticipated results and playing a positive role.With the current round of international financial crisis was at its worst, the exchange rate of a number of sovereign currencies to the U.S. dollar depreciated by varying margins."The stability of the RMB exchange rate has played an important role in mitigating the crisis' impact, contributing significantly to Asian and global recovery, and demonstrating China's efforts in promoting global rebalancing," the spokesperson said.The gradual recovery of the global economy and upturn of the Chinese economy has become more solid with enhanced economic stability. It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility, said the spokesperson.

BEIJING, May 10 (Xinhua) -- Home prices in 70 large and medium-sized Chinese cities rose by 12.4 percent year on year in May, the National Bureau of Statistics (NBS) said in a statement Thursday.The growth rate was 0.4 percentage points lower than that of April, as property sales in first-tier cities, including, Beijing, Shanghai and Shenzhen, contracted following a string of government measures to rein in price rises.Second-hand homes prices posted a year-on-year increase of 9.2 percent in May, but fell 0.4 percent from April, said the NBS in the statement.New home prices rose 15.1 percent year on year, down 0.3 percentage points from April.In May, floor space sold stood at 67.77 million square meters, a decrease of 12.74 million square meters from April.Floor space sold in the first five months climbed 22.5 percent from a year earlier to 302 million square meters. Growth in the first five months was down 10.3 percentage points compared with the January-April period.

BEIJING, Aug. 4 (Xinhuanet) -- Rising domestic iron ore production and slowing steel demand have hit some foreign miners and affected the global market, industry leaders said on Tuesday.China's iron ore imports dropped for the third straight month to 47.2 million tons in June, while spot prices have dropped to about 2 per ton after peaking at 5 per ton in April.The country's iron ore imports rose 4 percent year-on-year in the first half of this year, figures from the China Iron & Steel Association (CISA) showed. But domestic ore output increased by 28 percent year-on-year to 485 million tons in the same period, with output rising 37.6 percent in the second quarter from the first quarter."Rising domestic ore production is the main factor that drove down imports, largely impacting supply and demand on the global market," CISA vice-chairman Luo Bingsheng said.The figures form part of the bad news for international mining companies in Australia and Brazil that provide more than half of the ores to China.Iron ore imports from Australia, Brazil and India accounted for 62.3 percent of the country's total ore consumption last year.Brazilian company Vale already predicted in June that the share of imported ores in China would drop this year.About 40 percent of Chinese steel mills have to make cutbacks or put plants on maintenance, blaming increasing costs of imported ores and declining steel prices. Oversupply in the industry will continue to lower production, further driving down ore imports in the third quarter, Luo said.The CISA will also reduce the number of licensed iron ore importers to regulate the imported ore market."We will announce new rules for the industry soon, which include higher standards on the environment, energy consumption and capital requirement," Luo said.

CANBERRA, June 22 (Xinhua) -- Chinese Vice President Xi Jinping met here on Tuesday with Australian Governor-General Quentin Bryce.During the talks, Xi said he had exchanged views with a wide range of leaders and entrepreneurs in Australia during his trip, reaching comprehensive consensus on deepening cooperation on politics, trade, science and technology, education and tourism.Earlier this month, Bryce herself had paid a visit to China, attending the ceremony of "Australian Pavilion Day" at the Shanghai Expo and hosting the opening ceremony for "Australian Culture Year."Xi praised that such moves showed that the Governor-General attaches great importance to developing relations with China.Chinese Vice President Xi Jinping (L) meets with Australian Governor-General Quentin Bryce in Canberra, Australia, June 22, 2010.Xi said both China and Australia are two important nations in the Asia-Pacific region, and both share common interests in safeguarding the peace and stability in the region and pushing forward the regional and global economic growth.The vice president said the Chinese government is willing to join hands with Australia to enhance dialogue, expand consensus, increase mutual trust and explore cooperation, so as to achieve more progress in developing bilateral relations and bring more blessing to people in two countries.Bryce said Xi's current visit has conveyed important signal that Chinese people attach importance to the relations with Australia, demonstrated the depth of the bilateral relations and set the direction for future efforts.Earlier on Monday, Xi and Australian Prime Minister met business leaders from China and Australia who attended a CEO roundtable meeting in Canberra.Later on Tuesday afternoon, Xi and the Chinese delegation flew from Canberra to Darwin, the last leg of his Australian trip.