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TAIPEI, June 16 (Xinhua) -- China's eastern Zhejiang Province and Taiwan have agreed to deepen cooperation in agriculture, tourism, finance and other sectors, according to sources with a Zhejiang delegation which concluded its eight-day visit to the island on Wednesday.The sources said that the delegation, led by Zhejiang governor Lu Zushan, purchased 31 million yuan (4.5 million U.S. dollars) worth fruits and tea products from local farmers in Kaohsiung and Nantou.Zhejiang provincial government also pledged to help Taiwan farmers to sell their agricultural products in Hangzhou, Ningbo, Yiwu and other cities in the province and offer them preferential treatment in participating farm produce exhibitions.Zhejiang Province plans to increase its imports from Taiwan to about 10 billion U.S. dollars by the end of this year, from last year's 7.7 billion U.S. dollars.After the first six Zhejiang companies which have been permitted to conduct investment in Taiwan, Zhejiang government will promote more companies to invest in the island.Commercial banks in Zhejiang and Taiwan have also achieved cooperation agreement on financial service, insurance, futures trading and other services for small and medium-sized companies on both sides.Zhejiang is where many Taiwan people come from.The province is also a magnet for Taiwanese investment. The trade volume between Zhejiang and Taiwan hit 9.06 billion U.S. dollars last year, according to Lu.Since the beginning of this year, leading officials from various municipalities and provinces - Shanghai, Hubei, Fujian, Guizhou, Qinghai, Shandong and Sichuan - and the ministries of commerce and agriculture have led delegations to Taiwan to boost cooperation and exchanges with the island.
BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.
ASHGABAD, June 17 (Xinhua) -- He Guoqiang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, arrived here Thursday to start an official and good-will visit to Turkmenistan.In a written statement upon his arrival, He Guoqiang said Sino-Turkmen relations were time-tested, and the countries' political trust and economic and trade cooperation has been strengthened since they forged diplomatic ties 18 years ago.The two countries have supported each other in international organizations on issues concerning each other's core interests, he said.He Guoqiang, also secretary of the CPC's Central Commission for Discipline Inspection, had a transit visit to Azerbaijan before arriving in Ashgabad.During his stay in Baku, capital of Azerbaijan, He Guoqiang met with Prime Minister Artur Rasizade on Wednesday.He Guoqiang said he was visiting for friendship and cooperation, and China valued its relationship with Azerbaijan, respected the way of development that Azerbaijan has chosen according to its own situation. He appreciated Azerbaijan's adherence to the one-China policy.
SALZBURG, Austria, June 21 (Xinhua) -- Visiting Chinese Vice Premier Zhang Dejiang met here Monday with governor of the Austrian state of Salzburg Gabi Burgstaller.Zhang said China-Austria relations have developed smoothly with strengthened cooperation in various fields, and the two governments have actively boosted interregional cooperation between the two countries.The state of Salzburg has abundant resources of tourism and culture, and rich experience and technology on environmental protection and culture industry, said Zhang, adding Salzburg has set up friendly relations with China's Shanghai city and Hainan province and carried out fruitful cooperation.Zhang expressed his hope that the two countries would enhance interregional cooperation for the sake of common development.Visiting Chinese Vice Premier Zhang Dejiang (L) meets with governor of the Austrian state of Salzburg Gabi Burgstaller in Salzburg, Austria, June 21, 2010.Burgstaller said the Chinese government, in addressing the international financial crisis, made proper policies and played a positive and important role in boosting world recovery.Burgstaller said Salzburg has established friendly ties with some Chinese provinces and cities, adding they have carried out very effective and smooth cooperation.Salzburg hopes to further understand and learn from China through cooperation with Chinese provinces and cities, and expand exchanges and cooperation, she added.Zhang also met with mayor of Salzburg city Heinz Schaden.
BEIJING, June 21 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao on Monday made directives urging rescuers to "exhaust all means possible" to save miners trapped in an exploded colliery in central Henan Province.A total of 72 miners were trapped after explosives went off at the powder magazine of the Xingdong No.2 Mine in Weidong District of Pingdingshan City at about 1:40 a.m. At least 46 people were reported dead.