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WASHINGTON, Sept. 20 (Xinhua) -- U.S. President Barack Obama said Monday that China's rapid economic development is in the interest of U.S. economy."It's good for us that China has done well," Obama said at a town-hall-style meeting telecast live on CNBC before heading to Pennsylvania to raise money for a Democratic Senate candidate.His address is in line with U.S. Secretary of Treasury Timothy Geithner's testimony to the Congress last Thursday."We have very significant economic interests in our relationship with China," Geithner said, "a strong and growing China benefits the United States, just as a strong and growing United States is good for China."In responding to a question about China's currency issue, Obama said that China's currency is lower than the market says that it should be, but trade is in the benefit for both sides."I just want to make sure trade is good for American businesses and American workers," Obama said."We are going to continue to insist that on this issue, and on all trade issues between us and China, that it is a two-way street, " he said.Facing November elections shaped by voter anger at the sour economy, U.S. lawmakers are weighing bills that would slap sanctions on Chinese goods, amid accusations that China keeps its currency -- and thereby its exports -- artificially cheap.The Obama administration acknowledged that China's imports supported the global economy and contributed substantially to recovery around the world.With over 1.3 billion people and an economy continuing to grow at or near double-digit rates, China is the U.S.' fastest-growing major overseas market.China's record of bringing hundreds of millions out of poverty, building a rapidly growing middle class, and now its efforts to encourage growth led by domestic demand, ultimately mean more demand for American goods and services.In order to pull the economy out of recession, Obama launched National Export Initiative (NEI) in March and set the goal of doubling the U.S. export in five years and creating two million jobs in the country.The Obama administration is clear that the vast Chinese market is a crucial part to fulfill the goal."Increasing opportunities for U.S. firms and workers through expanded trade and investment with China will be an important part of the success of the President's National Export Initiative and our efforts to support job growth more broadly."According to the Treasury Department, China is a critical market for a broad range of American products, from agriculture, to manufacturing, to services.China was the largest market for U.S. soybeans last year, importing over 9 billion dollars.In the manufacturing sector, the United States has already exported nearly 3.5 billion dollars in aircraft to China this year alone, and U.S. exports of automobiles and parts to China have grown over 200 percent.The issues in China and U.S. economic relations and trade should be properly solved through consultations on an equal footing. Exerting pressure cannot solve the issue. Rather, it may lead to the contrary, China's Foreign Ministry said recently.

BEIJING, Nov. 2 (Xinhua) -- Chinese companies' overseas investment rose 10.4 percent year on year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.Chinese companies invested 36.3 billion U.S. dollars overseas in the first three quarters, excluding investments in financial sectors, as other other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, China's top economic planning agency, said at the opening of the 2nd China Overseas Investment Fair in Beijing.China has emerged as a major source of foreign direct investment (FDI) outflows.Although global FDI outflows dropped 40 percent year on year in 2009, China's overseas investments rose 14.2 percent year on year to 47.8 billion U.S. dollars, said Zhang.By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.The National Development and Reform Commission approved the two-day Second China Overseas Investment Fair, which the China Industrial Overseas Development and Planning Association (CIODPA) and China Development Bank are co-hosting.Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.

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.

BEIJING, Oct. 19 (Xinhua) -- China on Tuesday vowed to enhance coordination with the International Monetary Fund (IMF) to continuously push forward the reform of the global economic and financial systems. "Currently the world economy is recovering slowly, but the outlook still remains uncertain," Chinese Premier Wen Jiabao said while meeting with visiting IMF Managing Director Dominique Strauss-Kahn in Beijing.To completely get over the global financial crisis and realize sustainable development requires the international community to follow a path for mutual benefits and common development, face up to what caused the financial crisis and step up reform of the global economic and financial systems, he added.Praising China's counter measures against the crisis as "correct", Strauss-Kahn said the IMF values China's position and role and would like to build closer ties with the country.He called on countries to help one another to consolidate the growth momentum of the world economy.In an earlier meeting with Strauss-Kahn, Vice Premier Wang Qishan urged timely adjustments to global economic rules and standards to keep pace with the development of the global economy."The developing countries and emerging economies should have more say in the process," he added.He said the international community should work closely to ensure a success of the upcoming G20 Seoul Summit.In response, Strauss-Kahn said the IMF would continue to strengthen cooperation with China and increase the country's representation and voice in the organization.

BEIJING, Oct. 25 (Xinhua) -- China's Ministry of Commerce (MOC) said on Monday it would levy provisional anti-dumping duties of up to 37.5 percent on methanol imported from Indonesia, Malaysia and New Zealand.After a preliminary investigation, the MOC found the three countries had dumped methanol onto the market, causing material damage to Chinese manufacturers.The MOC has imposed provisional anti-dumping duties ranging between 9.3 percent and 37.5 percent effective Oct. 28, according to a news release on its website.The MOC also concluded its investigation into imports from Saudi Arabia, though no evidence of dumping was found.Methanol, also known as methyl alcohol, is used as a basic material to produce chemical products such as plastics, paint, construction materials and windshield cleaning fluid.