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BEIJING, Oct. 13 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Wednesday as the central parity rate of the yuan was set at 6.6693 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Wednesday's central parity rate beat the previous record of 6.6732 on Oct. 11.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Wednesday's central parity, the Chinese currency has strengthened against the U.S. dollar by about 2.32 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.294 Wednesday, lower from 9.2574 on Oct. 12, the previous trading day.The yuan's rate against 100 yen was 8.1477 Wednesday, compared with 8.124 on Tuesday.
BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.

NANJING, Oct. 4 (Xinhua) - Three months after high school, 18-year-old Wang Mingyuan landed a part-time job in KTK Group, one of China's leading railway components manufacturers, in east China's Jiangsu Province.Unlike other migrant workers, Wang also started a three-year vocational school education at the same time, thanks to the work-study program launched this year by the Jiangsu provincial government.The program offers employment opportunities in high-technology and community-service fields to vocational school students. Currently, Wang works three days of each week in the company and spends another two days as a student, learning computer science and engineering."I felt very depressed about the future when I knew I failed the college entrance exam. But after attending the work-study program, I think if I work hard, I may fare as well as those with college educations," Wang said."Through the program, I could gain career-related, on-the-job work experience, which is valuable for my job hunting and career development," he continued.For a long time, college has been seen as a necessary, even if not sufficient, ticket to the middle class by the Chinese people. However, the steadily increasing number of students attending Chinese colleges since the late 1990s caused a growing number of graduates to fail in finding a job.In contrast, skilled workers are badly needed in China as skilled job vacancies hit 4 million across the country by the end of 2009."As the country's industrial restructuring accelerates, the demand for skilled workers will become increasingly buoyant," said Huo Jianguo, director of the Trade Research Institute affiliated with the Ministry of Commerce.On the one hand, the employment market ran short of skilled workers. On the other hand, China's employment situation remained grave as millions of people were laid off, Huo said.
THATTA, Pakistan, Aug. 29 (Xinhua) -- Pakistani Interior Minister Rehman Malik on Sunday visited a mobile hospital set up by a Chinese search and rescue team in south Pakistan's Thatta, commending China's relief efforts for flood victims.The 55-member Chinese rescue team have set up tents and a mobile hospital at Thatta police headquarters late Saturday to provide medical services to the flood victims after they arrived at the district, about 100 km northeast of Karachi, Sindh Province.Thatta is now the worst flood-hit district where hundreds of thousands of people have been affected. China is the first foreign country to have sent a relief team to this region."They are working for humanity of the people who are suffering water-borne diseases...That is what we require now," Malik told Xinhua with reference to the team members who are mostly experienced doctors and nurses."They have very good medical facilities and good doctors. I think that is the best China could do," Malik said."China is always the truest and good friend (of Pakistan), and I always say 'Long live the Pakistan-China friendship'," he said.China has provided a total of 120 million yuan (17.7 million U.S. dollars) worth of humanitarian supplies to Pakistan in three batches.
XINING, Oct. 16 (Xinhua) -- Ten people died while 34 others were injured after a passenger bus plunged over a bridge in a mountainous region in northwest China's Qinghai province on Saturday, local police said.The accident occurred in Dulan county, Mongolian-Tibetan-Kazak Autonomous Prefecture of Haixi, at 4: 59 a.m. Saturday, police said. At least two children were among the dead.The injured are being treated in a major hospital in the nearby Golmud city, police and hospital sources said. Three of them remain in critical conditions.An initial probe said the driver's misjudgment was to blame.
来源:资阳报