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BEIJING, Jan. 12 (Xinhua) -- The Chinese yuan strengthened to a record high against the U.S. dollar on Wednesday to reach 6.6128 per dollar.The central parity rate of the Chinese currency, also known as the renminbi (RMB), was set 88 basis points lower than Tuesday's 6.6216, according to the China Foreign Exchange Trading System.China's central bank announced on June 19, 2010, it would further reform the yuan exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market each business day.

SEOUL, Nov. 11 (Xinhua) -- Chinese President Hu Jintao held bilateral talks on Thursday with the presidents of South Korea, the United States and Russia, respectively, to discuss bilateral relations as well as regional and international issues including global economic recovery.The meetings took place after Hu arrived in Seoul earlier in the day for the summit of Group of 20 (G20) major economies in Seoul.RELATIONS WITH SOUTH KOREAWelcoming President Hu, South Korean President Lee Myung-bak said he believed China would play an important role in promoting international economic cooperation within the G-20 framework.The two presidents reached a consensus on further strengthening the bilateral relations and on how to successfully hold the G-20 summit.The healthy and stable development of China's economy is very important to the development of Asia and also to the recovery of the world's economy, Lee said.The South Korean president also voiced hopes for the two countries to strengthen their exchange activities with an aim to increase mutual trust and further develop their bilateral strategic partnership.Hu said the Seoul G-20 summit is the first to be held in an Asian country and also in an emerging market economy.Hu stressed that China and South Korea are important neighbors and partners and that China is willing to work with South Korea to advance the bilateral strategic partnership into a comprehensive one.Hu said China has always supported the improvement of relations between the Democratic People's Republic of Korea and South Korea."China is willing to play a constructive role in this regard," he said.Lee expressed his appreciation for China's efforts in maintaining peace and stability on the Korean Penisula.

BEIJING, Dec. 27 (Xinhua) -- Chinese officials and Communist Party cadres have been warned against financial violations and extravagance in the name of New Year celebrations.The Communist Party of China (CPC) Central Commission for Discipline Inspection and the Ministry of Supervision have issued a circular, asking officials and cadres to be self-disciplined and practice frugality during the holiday season.Party officials must not accept gifts in any form, said the circular, which offers a list of prohibited items and services that "could influence the fairness of official duty," such as attending banquets, and expenses-paid travels and entertainment.The holiday season of 2011 starts from New Year's day and continues into the Spring Festival, or the Chinese New Year, which falls on February 3.The Chinese tradition of presenting gifts to family members and friends during the Lunar New Year has been extended to sending gifts to officials, which poses a challenge to the country's anti-corruption efforts.The circular also warned officials to avoid extravagance, and prohibited them from spending sprees using public money for personal gains.Instead, the limited public money and resources should be spent on developing the economy and improving people's livelihoods, it said.Further, the circular told discipline inspection authorities at all levels to seriously crack down on any violations of the law and disciplines.

QINGDAO, Jan. 6 (Xinhua) -- Chinese maritime authorities Thursday added two large sea surveillance ships to its fleet in a bid to better protect the country's maritime rights and interests.The two patrol ships, in the 1,000- and 1,500-tonne classes, respectively, were added to the North Sea fleet of the China Maritime Surveillance Force in the eastern coastal city of Qingdao.They will be used to crack down on violations of China's maritime interests, illegal use of Chinese seawaters and damages to its sea environment, resources and infrastructures, said Fang Jianmeng, head of the North Sea branch of the State Oceanic AdministrationThe ships will also patrol China's waters to monitor polluting incidents, said Fang.This is part of a 1.6-billion-yuan (241-million U.S. dollar) plan the State Council, or China's cabinet, unveiled in 1999 to add 13 1,000-tonne-plus sea patrol ships and five patrol helicopters to patrol the nation's waters.The first group of six large patrol ships and two helicopters joined the China Maritime Surveillance Force under the State Oceanic Administration in November 2005.A senior official of the China Maritime Surveillance Force, who declined to give his full name, told Xinhua that the agency has finished building the second group of three patrol ships and has purchased three helicopters."The remaining four vessels will be put into use before June this year," said the official, surnamed Wu.The fleet expansion came as China is facing an increasingly heavier burden of safeguarding its seas rights and interests, said Wu.China's Ocean Development Report 2010 released last May said the country's maritime rights and interests faced complicated situations and safety threats.These include sovereignty over islands, sea delimitation, sea resources disputes, protecting the sea environment and new challenges such as delimitation of the continental shelf, safe passage on the seas and terrorism, it stated.China has a coastline of 32,000 km and 350,000 square km of territorial seawaters and internal waters. It also has 3 million square km of its exclusive economic zone as recognized under the United Nations Convention on the Law of the Sea."Given the large sea territory, China's maritime surveillance force remains weak, even after all 13 patrol ships join the fleet," said Wu. "They're far from meeting all of our demands."Even following the expansion, the fleet would have only 47 patrol ships, with 26 in the 1,000-tonne-plus class, Wu added.Apart from the three fleets under the China Maritime Surveillance Force that cover the Bohai Sea, the Yellow Sea, the East Sea and the South Sea, the coastal provinces and municipalities also have their own regional sea patrol forces.The regional forces planned to start building 36 sea patrol vessels this year to expand the county's sea surveillance fleet, Wu added.The expansion is among the key measures that help protect China's maritime interests and promote a sustainable ocean economy, said Zhang Hongsheng, deputy director of the State Oceanic Administration.

BEIJING, Nov. 19 (Xinhuanet) --Chinese companies Thursday denied allegations by a Zimbabwe trade union that said Chinese construction firms had violated labor laws there by underpaying and abusing local staff.Ge Yizhong, deputy general manager of Zim Nantong Construction, which is currently operating in Zimbabwe, told the Global Times that local workers his company had hired were satisfied with their working conditions, including salaries."There is no ill-treatment of workers at my company. We have provided protective clothing to local workers and pay them according to the regulations set out by the local trade union," he said. "We have adjusted working hours to meet workers' demands. We have raised their pay twice since last year to counter the devaluation of the local currency."Commenting on the allegations against Chinese companies, Ge said competition may prompt local unions to make such allegations, as more Chinese companies are doing business in Africa.His defense comes after the Zimbabwe Construction and Allied Trades Workers' Union accused Chinese construction firms operating in Zimbabwe of underpaying workers, forcing them to work overtime without pay and not providing them with protective clothing and pension contributions, Newsday, a Zimbabwe-based newspaper, reported Wednesday."We would like to warn the Chinese contractors who are operating in Zimbabwe that if they do not follow the laid-down laws, the union is going to take strong action against them," the union's secretary-general, Muchapiwa Mazarura, was quoted by the paper as saying.The construction union also said that the deals that the government entered into with the Chinese should not be compensated by Zimbabwe "donating human resources," adding that inhuman treatment of workers should come to an end, the report said.The Affirmative Action Group, a Zimbabwean lobby group, recently wrote to the Harare Municipality asking local authorities to stop licensing foreigners, especially the Chinese, as they were not bringing any real business to the country, according to the report.The trade volume between China and Africa surged from billion in the early 1990s to a historic high of 6.8 billion in 2008 is expected to top the 2008 figure by end of the year, according to China's Ministry of Commerce.Direct investment from China to Africa grew from million in 2003 to .36 billion in 2009.With growing trade between China and African countries and a surge in Chinese businessmen investing in the continent, disputes between Chinese and local Africans are on the rise.In September, there were two cases involving gunmen in Zimbabwe robbing the sites of Chinese construction groups stationed in the country, resulting in property losses and injuries to Chinese nationals, according to the Chinese Ministry of Foreign Affairs.Last month, Zambian police arrested two Chinese nationals who shot at 11 miners and one onlooker at the Chinese Collum Coal Mine in Zambia, the local Lusaka Times reported.Guo Wenchang, president of the Kenya-based China-Kenya Bicycle Manufacturing Company, told the Global Times that Chinese companies are generally welcomed by local Africans, as the Chinese help create jobs in the countries and boost local economies.Lei Xiaolei, a human resources manager for the Tanzania project office of the China Railway Jianchang Engineering Company, told the Global Times that due to an unfamiliarity with the local rules and culture, his company received dozens of labor-related lawsuits 10 years ago when his company began operating in Tanzania."Salaries are paid monthly in China, but here in Tanzania workers are paid every week. There was a lot of chaos concerning payments, but things are improved, as we have tailored our policy to fit the local rules," he said.Dong Baohua, a Shanghai-based lawyer specializing in labor law, told the Global Times that Chinese companies seeking investment in Africa should not be merely focused on making a profit, but also on understanding the local laws and how the local governments are functioning."Some companies falsely believe they can operate their businesses smoothly in Africa by simply building schools or making donations," Dong said."Though some local regulations may not be sound by themselves, understanding them would give Chinese companies a big edge in achieving success and assimilating into the local environment."