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BEIJING, Nov. 17 (Xinhua) -- The United States and China, the world's first and third largest economies, have pledged to rebalance each other's economy and move in tandem on forward-looking monetary polices for a strong and durable global economic recovery, according to a China-U.S. joint statement released here on Tuesday.     The statement, issued after talks between Chinese President Hu Jintao and his U.S. counterpart Barack Obama, has climaxed the latter's first China trip since he took office in January.     "China will continue to implement the policies to adjust economic structure, raise household incomes, expand domestic demand to increase contribution of consumption to GDP growth and reform its social security system," said the statement.     The United States, in return, will take measures to increase national saving as a share of GDP and promote sustainable non-inflationary growth.     "To achieve this, the United States is committed to returning the federal budget deficit to a sustainable path and pursuing measures to encourage private saving," it said.     President Obama made it clear at an earlier press conference Tuesday afternoon that the rebalancing strategy would require America to save more, reduce consumption and reduce long-term debts.     The statement also said that both sides will pursue forward-looking monetary policies and have "due" regard for the ramifications of those policies for the international economy.     The two also agreed to expedite negotiation on a bilateral investment treaty, and work proactively to resolve bilateral trade and investment disputes in a constructive, cooperative and mutually beneficial manner.     Recognizing the importance of open trade and investment to their domestic and the global economies, the two are committed to jointly fight protectionism in all its manifestations.     "We both agreed to properly handle trade frictions between the two countries through negotiations on an equal basis, and to make concerted efforts to boost bilateral trade and economic ties in a healthy and steady way," said President Hu.     "I stressed to President Obama that under the current situation, both China and the United States should oppose and reject protectionism in all forms in an even stronger stand," he said.     The two sides also reiterated that they would continue to strengthen dialogue and cooperation on macro-economic policies and pledged to honor all commitments made at the first round of the Sino-U.S. Strategic and Economic Dialogue last July, the Group of 20 summits, and the recently concluded APEC Economic Leaders' Meeting in Singapore.     The statement said that both sides commended the important role of the three G20 summits in tackling the global financial crisis, and were committed to work with other members of the G20 to enhance the G20's effectiveness as the premier forum for international economic cooperation.     China and the United States also agreed to work through a cooperative process on mutual assessment to make the G20 Framework for Strong, Sustainable and Balanced Growth a success.     The statement said that both sides welcomed recent agreements by the G20 to ensure that the International Financial Institutions (IFIs) have sufficient resources and to reform their governance structures.     "The two sides stressed the need to follow through on the quantified targets for the reform of quota and voting shares of IFIs as soon as possible, increasing the voice and representation of emerging markets and developing countries in these institutions consistent with the Pittsburgh Summit Leaders Statement," it said.

BEIJING, Dec. 2 (Xinhua) -- Heavy fog faded in most Chinese provinces after a cold front from Siberia moving south cleared up the sky on Wednesday. As a result, road, river and air traffic was finally restored after days of disruption in many parts of China.     Traffic on the Beijing-Hangzhou Grand Canal resumed at noon after 11 hours of closure, said an official from Yangzhou City of east China's Jiangsu Province Wednesday.     Nearly 100 vessels stranded in Yangzhou have entered the Yangtze River. Highrise buildings are seen shrouded by heavy fog at the financial district of Shanghai, east China, Dec. 2, 2009    But sea areas off Shanghai were still shrouded by heavy fog. In the first three quarters of this year, Shanghai Maritime Safety Administration reported 32 accidents in its administrative area, in which 13 vessels were wrecked and 20 people went missing. Direct economic loss was estimated at 39 million yuan (about five million U.S. dollars).     The administration reminded passing vessels to be ready for emergencies because of the bad weather.     Visibility in east China's Shandong Province rose to more than 1,000 meters. Delayed flights and closed highways had been resumed, said the provincial meteorological bureau.     However, the heavy fog staggered in east China's Anhui Province, north China's Shanxi Province and northwest China's Shaanxi Province on Wednesday.     Visibility was 200 to 50 meters in most parts of Anhui, where police had to reinforce traffic control on highways.     Two of the three flights canceled on Tuesday in Hefei City tookoff Wednesday, though some other flights were delayed.     Visibility in Shanxi was 100 to 20 meters on Wednesday. Flights at the Airport of Yuncheng in Shanxi were postponed.

BEIJING, Nov. 13 (Xinhua) -- China should keep home prices from long time "abnormal increases" and divert profits made from home price hikes to the public through taxation, a senior property official said here Friday.     Dong Zuoji, director of land planning department of the Ministry of Land and Resources, said home prices would continue to rise as the land in the world's fastest-growing economy is becoming increasingly scarce, but the government should use taxes to give the added value of the land back to society.     "China hasn't seen overcapacity in real estate sector on the whole, otherwise home prices wouldn't have gained so much," he said while attending a meeting held in Beijing.     Dong said the government would increase land supply for subsidized homes and adopt measures to prevent developers from hoarding land.     The government would also guarantee land use for high-tech, high added-value enterprises while limiting that of backward production projects.     Due to a series of supportive measures adopted by the government, China's property sector rebounded strongly this year. Home prices in 70 large and medium-sized cities rose for the eight straight month in October.     Average house price in Beijing surged 43.7 percent in July from that of January, to 14,500 yuan per square meter, Golden Keys, a property agent said on July 17.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama started official talks in Beijing on Tuesday morning to discuss bilateral ties and global issues of mutual concern.     The official talks were held at the Great Hall of the People after a close-door meeting between the two presidents.     It is their third meeting this year following one in London in April and another in New York in September.     Obama is on his first state visit to China on Nov. 15-18 as guest of Hu. He kicked off the visit on Sunday in Shanghai.     

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here Tuesday he and visiting U.S. President Barack Obama agreed during their talks to resolve the nuclear issues of the Korean Peninsula and Iran through dialogue.     "Both of us remain committed to resolving the nuclear issue on the Korean Peninsula through dialogue and consultation," Hu said when meeting the press with Obama after their bilateral talks. "Such a commitment serves the common interests of China and the United States and all other parties concerned."     Hu said China and the United States will work with other parties concerned to stick to the denuclearization of the Korean Peninsula and the six-party talks process to safeguard the peace and stability of northeast Asia.     The two presidents stressed that it is very important for the stability in the Middle East and the Gulf Region to uphold the international nuclear non-proliferation regime and properly resolve the Iran nuclear issue through dialogue and negotiation, Hu said. 

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