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BEIJING, April 15 (Xinhua) -- The goal of China's foreign trade policy in 2010 was to improve its trade balance while maintaining steady export growth, said the Ministry of Commerce (MOC) spokesman Thursday.The country's trade surplus was expected to shrink by another 100 billion U.S. dollars in 2010, said Yao Jian, the MOC spokesman, at a press conference.The statement came less than a week after the country posted its first monthly trade deficit for March in six years, which was valued at 7.24 billion U.S. dollars, according to the General Administration of Customs (GAC) last Saturday.The GAC said the March deficit mainly stemmed from shrinking exports of labor intensive products, surging imports volumes and rising commodity prices, and predicted the country's trade surplus might continue decrease for the rest of the year.Echoing the GAC, Yao said the country's foreign trade was likely to keep heading toward a more balanced state, while some experts predicted China's trade would soon return to surplus."The trade deficit registered in March demonstrated expanding domestic demand accompanied by lukewarm demand in the international market," Yao said."Because such a situation would continue, the monthly trade deficit seen in March would remain, at least in the first half of 2010," he said.The deficit also proved that, in an era of economic globalization, it was market supply and demand, and other factors that decided trade balance rather than exchange rates, said Yao.Yao portrayed the deficit in March as the continuation of a shrinking trade surplus that started to appear in 2008, and also as a result of the central government's macroeconomic policy in balancing the economy.In recent years, China has worked hard to restructure its economy away from excessive dependence on exports and the manufacturing sector, while a whole range of measures have been taken to expand domestic demand.The goal of China's foreign trade policy was to further balance trade while maintaining stable growth in exports, he said.Yao expected the ratio of China's trade surplus to its gross domestic product (GDP) to fall to 3 to 4 percent from last year's 5.7 percent.When an economy's ratio stays between 5 percent and minus 5 percent, its trade can be considered as more or less balanced, said Yao Jian, citing a commonly accepted standard adopted in the economics field.The conclusion coincides with another set of data provided by the GAC chief Sheng Guangzu in an exclusive interview with Xinhua on Wednesday.Sheng said the ratio of China's trade surplus to its total trade volume declined to 2.3 percent in the first quarter this year from more than 10 percent registered between 2006 and 2008."When the ratio is below 10 percent, it means the country's foreign trade can be deemed as balanced," said Sheng citing an international standard.Sheng also said that China never worked towards having a trade surplus and the country was committed to making its foreign trade more balanced.China's trade surplus would continue to shrink as a result of the country's efforts to restructure and balance its foreign trade, he said, echoing the views of Yao.

BEIJING, April 13 (Xinhua) -- China's drought relief authorities said Tuesday heavy rains had eased the drought in southwest China's Sichuan Province, but dry weather and high temperatures continued in other affected regions.Compared with data collected last Sunday, people and livestock facing shortage of drinking water in Sichuan had decreased by 500,000 and 560,000 respectively by Tuesday, said the Office of State Flood Control and Drought Relief Headquarters (SFDH).Heavy rains also reduced the area of affected arable land in Sichuan by 2.33 million mu (155,333 hectares) by Tuesday, according to the SFDH.However, drought still persisted in other areas, including the provinces of Yunnan and Guizhou and Guangxi Zhuang Autonomous Region as rain in these regions was far from adequate.As of Tuesday, drought had left 24.62 million people and 18.08 million livestock short of drinking water, said the statement.

BEIJING, April 11 (Xinhua) -- China's banking regulator said on Sunday that banks should not extend loans to home buyers who intend to use the money for speculative purposes.Lenders should increase their awareness about financial risks and raise the down payment ratio "by a large margin", said the China Banking Regulatory Commission (CBRC) in a statement.Down payment ratio of a second or more houses should be no less than 40 percent and the interest rates should be strictly in line with risks, according to the statement.The action is the latest in a campaign by the central government to dampen China's overheated property market.

BEIJING, May 4 (Xinhua) -- Premier Wen Jiabao on Tuesday told youths to aim high and make concrete efforts to achieve their goals as he spent this year's Youth Day with students from the prestigious Peking University.Wen arrived at the campus Tuesday morning while various clubs and societies, ranging from mountain climbing, astronomy, career development to charity, were holding shows and performances to mark the day.At the calligraphy and painting society section, a philosophy student named Li Danlin gave Premier Wen her calligraphy work of four characters: yang wang xing kong (look up to the starry sky), which is the title of a widely-known Chinese poem written by Wen to encourage young people to aim high and pursue their goals fearlessly. Chinese Premier Wen Jiabao (2nd R, Front) talks with students in the library at Peking University in Beijing, capital of China, May 4, 2010. Wen spent the Chinese Youth Day with students of Peking University here on Tuesday. Wen added another four characters to the work: jiao ta shi di, which means be earnest and down-to-earth.This year's May 4 marks the 91th anniversary of the "May Fourth Movement," an important cultural and political movement in Chinese history that fought imperialism and promoted democracy and science.

TASHKENT, May 22 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Saturday called for efforts to increase cooperation in regional security and economic matters among the member states of the Shanghai Cooperation Organization (SCO).Speaking at a meeting of the Council of Foreign Ministers of the SCO in the Uzbek capital of Tashkent, Yang said that uncertainty and instability have been increasing and it would still take time for the world economy to fully recover.He suggested that the SCO member states make efforts in line with the consensus reached by their heads of state to further enhance coordination of their policies and strategies on affairs of common interest. Chinese Foreign Minister Yang Jiechi attends a meeting of the foreign ministers of the Shanghai Cooperation Organization (SCO) in Tashkent, capital of Uzbekistan, May 22, 2010.The member states should boost security cooperation to safeguard reigonal stability, including stepping up the fight against extremism, separatism and terrorism, optimizing the model for cooperation in ensuring security for major international events and carrying on joint anti-terrorism exercises, Yang said.Yang also called for bettering links among the SCO member states, boosting infrastructural construction, further facilitating trade and investment and expanding cooperation in sectors such as finance, transport, energy, telecommunications and agriculture amid the economic downturn.China will try to make sure that the 10 billion U.S. dollars credit it extended to other SCO member states, a commitment made by President Hu Jintao last year at the Yekaterinburg summit, is used for the best, Yang said.Yang and his counterparts from the SCO member states exchanged views and reached consensus on important regional affairs, including Central Asia security and stability, the international role of the SCO and its links with other multilateral organizations.They signed the Joint Declaration on SCO/U.N. Secretariat Cooperation after the meeting of the Council of Foreign Ministers.The foreign ministers also met with Uzbek President Islam Karimov.