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WASHINGTON, Oct. 10 (Xinhua) -- China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said here on Sunday.Westerners prefer Western medication method that is quick but drastic, while Chinese people prefer traditional Chinese medication that is slower and giving time for different herbs to take effect. A steep rise of Chinese currency yuan would cause harms, Zhou told a group of bankers and reporters during a luncheon speech at the 2010 annual membership meeting of the Institute of International Finance (IIF).Governor of the People's Bank of China (PBOC) Zhou Xiaochuan hosts a press briefing during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., capital of the United States, Oct. 8, 2010. To manage Chinese currency issue is a "complicated art," as you have to take into consideration domestic inflation, unemployment rate, gross domestic product (GDP) growth, balance of payments and other factors, he added.IIF, which represents over 420 world leading financial institutions headquartered in more than 70 countries, host its annual membership meeting in Washington D.C. between Oct. 8 and 10, when the International Monetary Fund and World Bank host their annual meetings in the same time.
BAOSHAN, Yunnan, Sept. 4 (Xinhua) -- The death toll from mudslides that hit a village in southwest China's Yunnan Province Wednesday has climbed to 24, while 24 others remained missing, officials at the rescue headquarters said Saturday.The mudslides occurred at about 10:20 p.m. Wednesday in a village of Longyang District in Baoshan City.Experts said the area is prone to landslides and it is recommended to permanently remove its population to safer areas, said Zhao Maoqi, vice head of Longyang District Government.Authorities will soon begin to select a site and work on a relocation plan. Local residents are expected to move into new houses early next year, said Zhao.Up to 40,000 cubic meters of debris came crashing down on the village, trapping 71 people from 21 families.An initial investigation blamed the tragedy on loose dirt and rocks sitting atop a steep slope that had been soaked by rain for about 10 days.

SHIJIAZHUANG, Sept. 23 (Xinhua) -- Four Japanese are being investigated in China for having entered a military zone without authorization and illegally videotaped military targets in northern Hebei Province, local state security authorities said Thursday.The state security authorities in Shijiazhuang, capital of Hebei, have taken measures against the four people according to law after receiving a report about their illegal activities.The authorities only gave one name of the four Japanese nationals, Sada Takahashi."Currently, the case is being investigated," the state security authorities in Shijiazhuang said in a statement.No further details were provided.
BEIJING, Sept. 7 (Xinhua) -- A senior Chinese military officer said Tuesday that China attached great importance to the military relations with Myanmar.Chief of the General Staff of the Chinese People's Liberation Army Chen Bingde made the remarks when meeting with Thura U Shwe Mann, member of the State Peace and Development Council of Myanmar.Hailing the stable growth of bilateral ties between the two nations and the two militaries, Chen said the fruitful cooperation in various areas had brought concrete benefits for both sides. Chief of the General Staff of the Chinese People's Liberation Army Chen Bingde (R) meets with Thura U Shwe Mann, a member of the State Peace and Development Council of Myanmar, in Beijing, capital of China, Sept. 7, 2010.Chen hoped the two militaries would work together to carry forward the traditional friendship.Thura U Shwe Mann applauded China's unselfish help for Myanmar in its economic and defense construction, saying that Myanmar would work with China to boost pragmatic cooperation between the two militaries and the two countries.
UNITED NATIONS, Sept. 23 (Xinhua) -- Chinese Premier Wen Jiabao met with U.S. President Barack Obama here on Thursday, focusing on bilateral ties and regional and world issues and calling for more cooperation.China and the United States can deepen their cooperation on significant international affairs and major regional issues as well as on efforts to handle global financial woes and climate change, Wen said.He said China and the United States could forge an even closer and wider-ranging trade and financial relationship. Chinese Premier Wen Jiabao (L) meets with U.S. President Barack Obama in New York, the United States, Sept. 23, 2010.At the beginning of the meeting, Wen said the China-U.S. relationship has advanced beyond the bilateral scope and has a major impact on the world.The common interests of the two countries far outweigh their differences, Wen said.Although there exist differences between China and the United States, the problems can be well solved through dialogue and cooperation, the premier said.The meeting at the United Nations added to the increasing number of meetings held between Chinese and American leaders since Obama took office in 2009.
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