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ROME, July 10 (Xinhua) -- China is set to become a global leader in the implementation of environmental-friendly policies and green technologies to tackle climate change, an Italian expert told Xinhua in a recent interview.     For Stefano Pogutz, an environmental management professor at Bocconi University in Milan, China's green-policies investment plans are greater than those carried-out in the United States and in many other industrialized countries.     "What China is doing to tackle global warming is impressive considering the density of Chinese population and the rapid economic growth model China is following," Pogutz said.     Climate change is at the core of the G8 summit held in L'Aquila from Wednesday to Friday. Talks had focused on the need to forge anew post-Kyoto agreement and to increase research and investments in the green economy.     The results of the G8 summit on climate change should pave the way to the United Nations meeting in Copenhagen in December, which aims at sealing a global deal to limit greenhouse gas emissions.     According to the UN climate change framework agreement and the Kyoto protocol, China is not subject to mandatory emission cuts ofCO2.     However, on its own China is already contributing to the fight against climate change through a series of initiatives aimed at curbing carbon emissions, such as lowering internal energy consumption levels and launching traffic and transportation monitoring schemes.     "I don't agree with those who believe that China is responsible for global pollution," Pogutz said. "China is doing a lot, there's a direct public intervention on measures aimed at fighting climate change. The Chinese government has increased investments in technologies and infrastructures to boost energetic efficiency and cut CO2 emissions."     Luca Labella, a China analyst with Rome's International Studies Center (Cesi), remembered the numerous local green projects implemented in China such as Shanghai's LPG buses and the rural towns' biomass-fueled.     "China is open to climate change issues and solutions. However, in China climate change is not considered under a political perspective but a scientific one, focused on progress and research," he added.     According to Pogutz, China is set to have a role of leadership in the use of renewable energies and other green technologies.     "Today China is one of the greatest producer of solar panels and in the near future it could lead in the export of alternative energy technologies."     But it's not only a matter of strategic investments in green technologies. China's contribution to the global fight against climate change largely depends as well on its human resources. "Almost all PhD students in the U.S. come from China," he added. 

BEIJING, April 27 -- The yuan will remain stable against the U.S. dollar as China will take a cautious and stable position in its foreign exchange investment.     The Chinese currency gained against the US dollar in the past week and ended at 6.8273 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8311 by the end of the previous week.     China will continue its policy of diversifying its huge amount of foreign exchange reserves, the currency regulator said last Friday.     Hu Xiaolian, head of the State Administration of Foreign Exchange, told Xinhua news agency that it will stick to major currencies and high-quality assets in its foreign exchange investments.     China's overseas earnings hit 82.5 billion U.S. dollars in the past year, an 8-percent rise from a year earlier, according to data released by the administration last Friday.     Hu also noted the positive outlook of China's economy has lessened concerns over a depreciation in the yuan.

BEIJING, June 27 (Xinhua) -- Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), had a meeting here with heads of the delegations of Taichung City and Taichung, Changhua and Nantou counties of Taiwan Saturday.     On the same day, the CPPCC leader also paid a visit to an exhibition of farm produce and tourist attractions from these four areas of central Taiwan, at its opening day. Jia Qinglin (1st R), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with heads of the delegations of Taichung City and Taichung, Changhua and Nantou counties of southeast China's Taiwan Province, in Beijing, capital of China, on June 27, 2009In his talks with the Taiwan visitors, Jia welcomed the four Taiwan areas to jointly hold the exhibition in Beijing.     Since May last year, when the situation in Taiwan experienced a major positive change, the two sides have taken the rare opportunities and adopted a series of positive measures to promote cross-strait relations and made breakthroughs. Cross-Straits relations now exhibit a bright future of peaceful development, said Jia.     In May last year, the Chinese Kuomintang Party (KMT) won in the island's elections. Jia Qinglin (2nd L, front), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), visits an exhibition of farm produce and tourist attractions from Taichung City and Taichung, Changhua and Nantou counties of southeast China's Taiwan Province, in Beijing, capital of China, on June 27, 2009.More than ever, the Chinese compatriots living on both sides of the Taiwan Straits need to join hands to get over difficulties at a time when the impact of the global financial crisis still persists and the economic growth of the world is noticeably slowing down, said Jia, who is also a member of the Standing Committee of the Communist Party of China (CPC) Central Committee's Political Bureau.     The mainland side is willing to do its best to strengthen cross-straits cooperation, in an attempt to assist Taiwan in getting over the difficulties brought about the global financial crisis, Jia said.     The mainland has issued over 70 policies and measures, including those on farm produce and tourism, in favor of Taiwan compatriots and to deepen cross-Strait exchanges and cooperation, according to the top political advisor.     He hoped that the compatriots of the two sides could jointly explore the road towards peaceful development of cross-Straits relations, share the achievements, jointly carry forward the common culture and heritage that are of the same root, and make joint efforts for the great rejuvenation of the Chinese nation.     Also Present at the meeting were Beijing Mayor Guo Jinlong, President of the mainland-based Association for Relations Across the Taiwan Straits (ARATS) Chen Yunlin, Executive Deputy Director of the State Council Taiwan Affairs Office Zheng Lizhong, and Chairman of the China Council for the Promotion of International Trade Wan Jifei.     The exhibition was jointly sponsored by the four central Taiwan areas and Beijing.

BEIJING, May 8 (Xinhua) -- China's top economic planner Friday announced details of the country's new oil pricing mechanism, for the first time after the new pricing system kicked in at the beginning of this year.     In a statement on its website, the National Development and Reform Commission (NDRC) said China would adjust domestic fuel prices when global crude prices reported a daily fluctuation band of more than 4 percent for 22 working days in a row.     The commission said refiners would enjoy "normal" profit when global crude prices are below 80 U.S. dollars per barrel, but would face narrower profit margins when the crude prices rise above 80 U.S. dollars per barrel.     However, fuel prices would not go further up, or only be raised by a small margin, when crude prices rise above 130 U.S. dollars per barrel, and fiscal and tax tools would be used to ensure supplies, the NDRC said.     Light, sweet crude for June delivery rose 37 cents a barrel to settle at 56.71 U.S. dollars on the New York Mercantile Exchange Thursday after reaching a six-month high of 58.57 dollars.     Crude prices staged strong rally on news of upbeat economic data in the United States, rising more than 10 percent in two weeks.     The NDRC statement also came a day after it denied an online report claiming imminent price hike.     C1 Energy, an energy information website, Thursday reported that the Chinese government would raise fuel prices as of midnight Thursday, but said later the price adjustment had been canceled, with reasons unknown.     Xu Kunlin, deputy head of NDRC's pricing department, said the new oil pricing mechanism is not to be followed "word by word" without any flexibility, when asked whether the commission would soon adjust fuel prices at a press conference held in Beijing.     "There has been pressure to raise domestic fuel prices as crude prices continued to rise," Xu said, "however, the final decision will depend on developments in crude prices in coming days."     Friday's statement did not say how the global crude prices would be measured.     Xu declined to reveal details on the basket of crude prices for evaluating international price changes, and said such details would remain a secret in a bid to prevent speculation.     The NDRC said in the statement that the government would continue to control fuel prices at the current stage, because of insufficient market competition and imperfect market mechanisms.     However, fuel prices would eventually be determined by market forces only in the long run under the new pricing mechanism, which is aimed to bring in more market forces, said the NDRC.     China's fuel prices, with taxes included, are at a relatively lower level among major oil importers, said the NDRC.     Domestic fuel prices are lower than in Japan, the Republic of Korea, India, Mongolia, and many European countries, but higher than in oil exporters in the Middle East and than some cities in the United States, according to surveys by the NDRC.     China's retail fuel prices vary in different regions. Currently, gasoline 93, the most commonly used type of gas, sells for 5.56 yuan (81.8 U.S. cents) per liter in Beijing.

HONG KONG, July 4 (Xinhua) -- The Bank of China (Hong Kong) Limited (BOCHK), the sole Renminbi (RMB) clearing bank in Hong Kong, announced here Saturday that it will launch RMB clearing services for trade settlement starting from Monday.     BOCHK said it had singed a clearing agreement with the People's Bank of China in relation to RMB business, and will invite banks and other financial institutions participating in trade settlement to sign a new clearing and settlement agreement.     On Wednesday, the People's Bank of China and other departments on the mainland jointly announced the "Administrative Rules on Pilot Program of Renminbi Settlement of Cross-Border Trade Transactions", allowing RMB settlement of cross-border trade transactions for the first time.     "The initiation of the Pilot Program is of particular significance. It will increase the source channels and the usage of RMB funds," said He Guangbei, vice chairman and chief executive of BOCHK.     Under the Pilot Program, enterprises will also have greater flexibility in selecting the settlement currency of cross-border trade transactions as well as increasing their capability to hedge exchange risk, minimize costs, and boost the efficiency and profitability of cross-border trade transactions, he said.     BOCHK, as a participating bank of RMB business, will take the lead in launching a wide spectrum of RMB trade settlement and finance services for its corporate customers to conduct RMB- denominated trade transactions such as remittances, collections and L/C services between Hong Kong and Shanghai, Shenzhen, Guangzhou, Dongguan and Zhuhai, said the vice chairman.