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BEIJING, Jan. 4 (Xinhua) -- Chinese President Hu Jintao on Sunday spoke over telephone with his U.S. counterpart George W. Bush about bilateral relations and major international issues of common concern. The two leaders exchanged congratulations on achievements that have been made in the development of bilateral relations since the forging of diplomatic ties between China and the U.S. 30 years ago. They expressed the hope that a series of events to mark the 30th anniversary of the establishment of diplomatic relations would be successful. President Hu agreed with Bush's positive remarks on China-U.S. relations and hailed his efforts to develop a constructive and cooperative Sino-U.S. relationship. In the new historical period of time, China and the United States, through their joint efforts, will surely be able to stay firm in the general direction of the China-U.S. constructive and cooperative relationship and promote sound, stable, all-round and in-depth development of bilateral ties, Hu noted. Bush, for his part, said China and the United States have engaged in good cooperation over the past 30 years which deserves congratulation. The U.S. president said he was pleased that he has conducted satisfactory cooperation with President Hu during his presidency. On the Middle East situation, Hu said China is seriously concerned about escalation of the Palestinian-Israeli conflict and worsening of the volatile situation in the Middle East and is deeply worried about the humanitarian crisis taking place in the Gaza Strip. China calls on all the parties concerned to stop military operation and armed conflicts, promote the relaxation of tension in the region and create conditions for a solution to the conflict by political means, Hu said.
GENEVA, Jan. 23 (Xinhua) -- The World Economic Forum (WEF) is "very proud" that it has managed to maintain "very positive" ties with China, a senior WEF official has said. "We all know that China is an important factor in the future evolution and development of worldwide economy. So we are all very interested in what China will be doing," said Andre Schneider, managing director and chief operating officer of the Geneva-based organization. In a recent interview with Xinhua before next week's opening of the 2009 WEF annual meeting, also known as the Davos Forum, in the Swiss Alpine skiing resort Davos. More than 40 heads of state or government, including Chinese Premier Wen Jiabao, and some 1,400 business leaders, have confirmed their participation at the five-day meeting scheduled to deal with the ongoing financial crisis and other global challenges. Premier Wen's participation will certainly be "a unique opportunity" for the world to better understand what are the plans of the Chinese leadership to deal with the crisis, Schneider said. Schneider noted the first two WEF annual meetings of the new champions, dubbed "Summer Davos Forum," were both held in China, in Dalian in 2007 and Tianjin a year later. The success of the "Summer Davos Forum," a gathering of new multinational companies from China and across the world to explore the mechanisms of continued and sustainable growth, indicated the strong collaboration between the two sides, he said. The WEF's choice of China as the host of the "Summer Davos Forum" was "an absolutely right one," he said. Schneider noted that cooperation between the WEF and China started in 1979, when China first sent a delegation to the Davos Forum. China and its economic growth has been a topic of interest for participants at the Davos Forum in recent years. In June 2006, the organization opened a representative office in Beijing, which aims to deal with all interactions with China. "It's a clear sign of our deepened collaboration," he said.
Chinese Vice Premier Wang Qishan (front R) shakes hands with U.S. Treasury Secretary Henry Paulson at a signing ceremony on energy and environmental protection cooperation during the fifth China-U.S. Strategic Economic Dialogue in Beijing, China, Dec. 4, 2008. BEIJING, Dec. 4 (Xinhua) -- A senior Chinese official said here on Thursday that China and the United States have reached consensus in five major areas to step up energy and environmental protection cooperation during the on-going fifth round of the Strategic Economic Dialogue (SED). Zhang Xiaoqiang, vice minister in charge of the National Development and Reform Commission (NDRC), said the five areas are as follows. First, the SED completed preparations to start cooperation in five areas: electricity, clean water, clean transportation, clean air and the conservation of forest and wetland ecosystems, mapping out plans and roadmaps. China and the United States signed a 10-year energy and environmental protection cooperation framework in June during the fourth SED held in Washington, with these five areas as initial goals. Chinese Vice Premier Wang Qishan (front R) and U.S. Treasury Secretary Henry Paulson attend the signing ceremony on energy and environmental protection cooperation during the fifth China-U.S. Strategic Economic Dialogue in Beijing, China, Dec. 4, 2008. Second, both sides agreed that energy efficiency would be the sixth initial goal. Third, the SED achieved agreement on a framework document for the green partnership project under the 10-year cooperation framework. It will be formally signed by Chinese Vice Premier Wang Qishan and U.S. Treasury Secretary Henry Paulson. Fourth, institutions including China's NDRC and the China Exim Bank, as well as the U.S. Trade and Development Agency and the Export-Import Bank of the United States, will sign a memorandum of understanding on measures to support the 10-year energy cooperation. Fifth, seven eco-partnerships from the two countries will sign letters of intent on cooperation. These agreements include one involving China's southwestern Chongqing Municipality, the U.S. city of Denver and car maker Ford on an electric and hybrid automobile project. The two-day SED, which is to end on Friday, also covers macro-economic risks, trade challenges and the investment environment.
BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading. Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis. "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday. "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said. Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis. It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said. According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year. With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said. Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities. Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said. "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said. In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.
BEIJING, Nov. 19 (Xinhua) -- Chinese shares staged a broad-based rebound on Wednesday, making up the previous day's losses after an overnight rally on Wall Street. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent. The Shenzhen Component Index rose 6.14 percent to 6,679 points. Combined turnover shrank to 120.81 billion yuan (17.26 billion U.S. dollars) from the previous day's 145 billion yuan. Gains outnumbered losses by 865 to eight in Shanghai and 743 to two in Shenzhen. Almost all sectors rose, with more than 200 stocks up by the daily limit of 10 percent. An investor looks at the electronic board in a stock exchange in Shanghai, east China, Nov. 19, 2008. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent The Shanghai index fell more than 6 percent on Tuesday over fears of a spreading global slowdown, exacerbated by profit-taking. Shares rebounded sharply in the afternoon on Wednesday as investors bought up energy and bank stocks, which had fallen heavily on Tuesday. Oil, telecom and banking sectors led the rise. Sinopec rose by 10 percent to 8.37 yuan. PetroChina was up 7.49 percent, closing at 11.91 yuan. China Citic Bank gained 6.51 percent to 4.42 yuan. Telecom shares surged on reports of an imminent approval of 3G licenses. China United Telecommunications rose 10 percent to 6.03 yuan. A Guangfa Securities note said the rebound showed investor confidence had risen after Tuesday's decline. The sharp rises of energy and banking stocks showed institutional investors were optimistic over market prospects.