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BEIJING - China's currency, the yuan, hit a new high against the US dollar on Thursday, following an overnight key interest rate cut in the United States.The yuan, also known as the renminbi, went up 145 basis points from the previous day to a central parity rate of 7.1853 yuan to one dollar, breaking the 7.19 mark.The Federal Reserve on Wednesday cut US interest rates by a bold half-percentage point as part of its efforts to shore up economic growth.The move came just eight days after the US central bank slashed rates by three quarters of a percentage point, leading the dollar to weaken against other major world currencies.The Chinese currency had appreciated against the greenback by about 12 percent since a new currency regime was imposed in July 2005 to revalue and de-peg it from the dollar.It had climbed 6.9 percent against the dollar in the past year, but some US critics say it remains undervalued, giving Chinese exporters an unfair advantage and resulting in the massive trade imbalance between the two countries.China was not against revaluation of the yuan, but opposed "excessively rapid" appreciation that was inappropriate to its national conditions, Commerce Minister Chen Deming said last month.Premier Wen Jiabao also said China would improve the yuan's exchange rate mechanism in a controllable and gradual manner, let the market play a bigger role in the mechanism and enhance the currency's flexibility.

A special assistance center was set up in Beijing Prison recently where policewomen, who are also qualified counselors, provide help for special "clients", male prisoners who are serving long sentences, Beijing Youth News reported on July 5. A policewoman counselor chats online with an inmate at a counseling and education center in Beijing Prison. [ynet.com] The police use computers with Internet access and chat through web cameras with lifers to help ease their psychological problems especially with those who have difficulty communicating. A short message service is also available for them to contact their families. The newly-established center is composed of policewomen. Due to regulations in prisons, the policewomen are not allowed to communicate with prisoners face-to-face, according to Lu Yanyan, the director of the center for counseling and correctional education in the Beijing Bureau of Prison Administration. "The work of counseling used to be the responsibility of policemen," explains Lu. "But because they are also officials who enforce correctional education on the prisoners, those who have psychological problems are reluctant to open their hearts to share their troubles. That's why policewomen fill this need." Wearing civilian clothes, not uniforms, the five policewomen appear much closer to the people they counsel. Though not face-to-face, the prisoners encounter a friendly and kind smile and feel more relaxed to talk openly about their feelings and emotions. A prisoner who was sentenced to life imprisonment seldom talked as he was abandoned by his family. But when a counselor surnamed Ren started to make appointments with him, he "became happier than before," as Ren put it. The special short message service is free for lifers. They can send as many messages as they want, but every message is checked by the officers. The quantity of messages sent and received currently is about 1,500 a day. Another prisoner told the reporter, even though he was concerned about his child's education and could not solve the problem himself, he felt more comfortable after he poured out his troubles to the counselor. As the counseling and correctional education director explains, it is important to provide counseling for those with long sentences, Lu says crimes are always the result of psychological problems and the prisoners are also disturbed by depression and anxiety in confinement.
BEIJING - China imported 139,900 sedans in 2007, up 25.13 percent over the previous year, with the largest share of 46 percent, or 63,800 units, coming from Germany, China Customs figures revealed.The sedan imports worth 5.01 billion US dollars, up 25.41 percent from the previous year, took up 45 percent of China's total automobile imports which has slightly overshot the previous year's total to stand around 310,889 units.China Trading Center for Automobile Import predicted late January that tariff reduction since July 1 had given a stimulus to China's consumption of overseas made automobiles, which could reach 300,000 in 2007.China customs figures showed about 79 percent of the imports were vehicles with an engine size of or larger than 2.5 liters.Japan exported 29,700 sedans to China, the second largest total, while the United States ranked third with 18,000 units.China's sedan exports, by contrast, more than doubled year-on-year to 188,600 units in 2007.Chery, the flag-bearer of Chinese brands, saw a 132-percent surge in exports in 2007, to 119,800 units. The carmaker, which has accelerated its expansion overseas in recent years, expected to export 180,000 units this year.Chang'an Automotive Group, China's fourth largest automaker, sold more than 40,000 cars overseas last year, against 21,700 in 2006.China, the world's third largest vehicle producer, after Japan and United States, found its auto output grow 22.9 percent to 9.04 million units last year, according to figures with the National Development and Reform Commission (NDRC), the country's top economic planner.The NDRC deputy economic performance department director Zhu Hongren said, since quantity was not a problem anymore, auto producers should increase their focus on quality.In 2006, China overtook Japan to become the world's second largest car market after the United States, with sales of 7.2 million units, up 25.13 percent year-on-year.Compared with their international counterparts, China's auto makers are still small in terms of production scale and behind in technology. In addition, the country's auto boom has created growing problems, such as increasing traffic jams and pollution.
China warmly welcomes French President Nicolas Sarkozy on a state visit next month, which will "be a great event for China-France relations", Foreign Minister Yang Jiechi said at a joint press conference with his French counterpart Wednesday.Yang and French Foreign Minister Bernard Kouchner discussed the preparations for Sarkozy's visit, and agreed that it would definitely achieve great results.A lot of agreements will be inked between France and China during Sarkozy's visit in areas such as energy, transportation and education, Kouchner said.The French foreign minister is in China to pave the way for Sarkozy's visit, the first since he assumed presidency in May.During their talks, Yang said China is ready to go along with France to deepen strategic dialogue, expand mutually beneficial cooperation and have closer consultation and coordination on major international issues.The two foreign ministers agreed, as two of the five permanent members of the UN Security Council, to strengthen comprehensive strategic partnership for the benefit of both sides. Such a development will be beneficial to global peace, stability and development, too.On the development of ties between China and the European Union (EU), Yang said their relationship had matured after 30 years of cooperation."The two sides share broad common interests in intensifying mutual political trust, expanding economic and trade cooperation, jointly tackling the challenges of climate change and combating traditional and non-traditional security threat," Yang said.Kouchner ensured Yang that France would double its efforts to solve the pending China-EU problems after his country assumed the rotating presidency of the EU in July 2008.On the Taiwan question, Kouchner said France follows the one-China policy. He said EU foreign policy chief Javier Solana had made a statement on behalf of EU countries opposing Taiwan authorities' attempt to hold a referendum to move the UN for membership. "France supports the position (of Solana)," Kouchner said.Yang and Kouchner also exchanged views on regional and international matters such as the nuclear issues on the Korean Peninsula and in Iran, the situation in Myanmar, climate change and the Darfur and other issues in Africa.
来源:资阳报