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BEIJING, March 7 (Xinhua) -- China should speed up reforming its financial system to make the yuan an international currency, said political advisors Saturday.     "A significant inspiration to draw from the global financial crisis is that we must play an active role in the reconstruction of the international financial order," said Peter Kwong Ching Woo, chairman of the Hong Kong-based Wharf (Holdings) Limited.     The key to financial reform is to make the yuan an international currency, said Woo in a speech to the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.     That means using the Chinese currency to settle international trade payments, allowing the yuan freely convertible on the capital account and making it an international reserve currency, he said.     China's yuan, or Renminbi, can be freely convertible on the current account but not on the capital account, preventing it from being a reserve currency or a choice in international trade settlement.     China has announced trial programs to settle trade in the yuan, a move analysts say will facilitate foreign trade as Chinese exporters might face losses if they continue to be paid in the U.S. dollar. The dollar's exchange rate has become more volatile since the global financial crisis.     Economists say the move will increase the acceptance of the currency in Asia, which will help it become an international currency in the long run.     The status of the yuan as an international currency will benefit China by giving it a bigger say in world financial issues and reducing the reliance of its huge foreign reserves on the U.S. dollar, some analysts say.     Other analysts argue a fully convertible yuan will hurt China as it would allow massive capital outflow during a financial crisis.     Meanwhile, Chinese authorities remain cautious.     It's possible that the global financial crisis will facilitate the process of making the yuan internationally accepted, but there's no need to push for that, Yi Gang, vice central bank governor, told Xinhua earlier this month.     That process should be conducive to all sides, he said.     Xu Shanda, former vice director of the State Administration of Taxation and a CPPCC National Committee member, urged for faster paces in making the yuan an international currency as a way of increasing national wealth.     He said the United States and the European Union have obtained hefty royalties from the international use of their currencies while China has become the biggest source of that income.     A royalty, or seignior age, results from the difference between the cost of printing currency and the face value of the money.     "China's loss due to royalty payment has far exceeded the benefit of not making the yuan an international currency," he said in a speech to the annual session of the CPPCC National Committee, without elaborating.     China's State Council, or Cabinet, said last December it would allow the yuan to be used for settlement between the country's two economic powerhouses -- Guangdong Province and the Yangtze River Delta -- and the special administrative regions of Hong Kong and Macao.     Meanwhile, exporters in Guangxi Zhuang Autonomous Region and Yunnan Province will be allowed to use Renminbi to settle trade payments with ASEAN (Association of Southeast Asian Nations) members.

BEIJING, March 2 (Xinhua) -- Chinese State Councilor Ma Kai asked for more active policy to boost employment, guarantee economic growth, people's livelihood and social stability here on Monday.     Ma made the comments when addressing the opening ceremony of China National School of Administration.     He suggested that policies to boost economic growth and enhance economic structure should be combined more closely with the effort to create job opportunities.     Measures should be taken to relieve companies' burdens and maintain existing positions for employees, Ma said.     He also encouraged job seekers to start their own businesses, and adjust their job expectations.     Ma highlighted the importance of creating jobs for university graduates, migrant workers, veterans and families with no income.

BEIJING, April 13 (Xinhua) -- House prices in 70 major Chinese cities fell 1.3 percent in March from a year earlier, the National Bureau of Statistics said Monday.     The month-on-month figure, however, rose 0.2 percent in March.     In the first quarter, the area of commercial houses sold rose 8.2 percent to 113 million square meters and sales jumped 23.1 percent to 505.9 billion yuan (74 billion U.S. dollars), the NBS said.     Prices of new houses fell 1.9 percent year-on-year last month but rose 0.1 percent from February. Prices for second-hand houses rose 0.3 percent month-on-month despite of a decline of 0.4 percent from a year earlier.     Analysts warned it was still too early to say the property market had revived, as sales were mainly driven by surging credit and by stimulus policies, such as tax cuts. Other indicators, such as land purchases by developers, had shown no signs of recovery.     Floor areas of newly built houses in the first quarter tumbled 16.2 percent to 201 million sq m. The decline was 1.4 percentage points more than the January-February figure.     Land purchased for homebuilding fell more than 40 percent in the first quarter to 47.42 million sq m, and the actual area developed shrank 11.3 percent to 52.2 million sq m.     China Vanke, the country's biggest property developer by market value, reported on April 11 its first-quarter sales rose 21 percent to 12.22 billion yuan. Those of Poly Real Estate Group, the second-biggest, doubled to 6.48 billion yuan.

NANJING, Feb. 3 (Xinhua) -- China's Vice Premier Wang Qishan said on Monday that the country should take advantage of the rare opportunity to expand the outsourcing industry.     The State Council has identified 20 pilot cities to take part in a program that offers perks to businesses that opt to participate in outsourcing. The program will help ensure economic growth, industry restructuring and the job promotion -- notably for the college graduates, according to Wang in an industry meeting held on Monday in the east city of Nanjing.     The government would offer more support in tax breaks, financing, and vocational training, Wang said.     The Vice Premier noted it was important to nurture China's outsourcing industry, and local governments should create sound legal conditions to pave the way for the industry expansion.     Twenty cities, including Beijing, Shanghai, Xi'an, Suzhou and Hangzhou, have been designated for pilot service outsourcing programs. Beginning Jan. 1, these companies are eligible for tax breaks, financial support, subsidies and intellectual property rights protection, the Ministry of Commerce (MOC) said on Monday.     More multinational companies and financial institutions, hard hit by the global financial crisis outsource their business to less costly regions. This creates an opportunity for Chinese outsourcing companies, said vice minister of MOC Ma Xiuhong.     McKinsey, the New York based consultancy, said in a report last month that China posted rapid growth in the business but was lagged behind India, whose market value was nine times that of China.     The report said that despite the challenges, China still had potential to become the main outsourcing destination in the future.

BEIJING, March 20 (Xinhua) -- Top Chinese leaders paid visits on Thursday and Friday to the 2009 Energy Saving, Emissions Reduction and New Energy Science and Technology Expo, which is held at the Beijing Exhibition Hall from March 19 to 23.     The leaders of the state and the Communist Party of China included Hu Jintao, Wu Bangguo, Wen Jiabao, Jia Qinglin, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang. Chinese President Hu Jintao (4th L) talks with an exhibitor in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. President Hu visited the expo on March 20.They looked around the booths, watching carefully fuel cell cars, hybrid electric vehicles and new energy-saving washing machines, and getting to know the latest measures the government has taken for emission reduction and new energy development.     Hu Jintao emphasized that China should enhance its energy saving and continue to develop renewable energy sources in light of the present global economic downturn.     China would take an active part in international cooperation to cope with climate changes and jointly build ecological civilization together with other countries, Hu said. Wu Bangguo (2nd R), chairman of the Standing Committee of the National People's Congress, China's top legislature, visits the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 20, 2009. Chinese Premier Wen Jiabao (C) looks at exhibits in the 2009 China International Energy Saving, Emission Reduction and New Energy Science and Technology Expo at the Beijing Exhibition Center in Beijing, capital of China, on March 19, 2009. Premier Wen visited the expo on March 19

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