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BEIJING, July 11 (Xinhua) -- Growth of China's foreign exchange reserves are slowing as the total reached 2.4543 trillion U.S. dollars by the end of June, up 15.1 percent year on year, the People's Bank of China (PBOC), the central bank, announced on Sunday.Statistics from the central bank show China's foreign exchange reserves increased by 7.2 billion U.S. dollars in the second quarter, a drastic decrease compared to the last quarter in 2009, when reserves grew by 126.5 billion U.S. dollars.Reserves in the first quarter increased by 47.9 billion U.S. dollars.The PBOC also said the declining euro was the major reason behind the slowing growth in foreign exchange reserves.The exchange rate between the euro and U.S. dollar had fallen by nearly 20 percent between the end of 2009 and May this year, according to the PBOC.China's basket of foreign exchange reserves include the U.S. dollar, euro, Japanese yen and others.On a monthly basis, reserves increased by 43.4 billion U.S. dollars in April followed by a reduction of 51 billion U.S. dollars in May, while June saw reserves increase by 14.8 billion U.S. dollars.China's gold reserves stood at 33.89 million ounces at the end of June, according to PBOC figures.
SHANGHAI, Aug. 13 (Xinhua) - Swiss President Doris Leuthard Thursday said the rise in bilateral trade between Switzerland and China is a delightful surprise, as she seeks to expand economic cooperation with China through a free trade agreement.The trade increase was a surprise as it came during the economic crisis last year, Leuthard said.In the first six months of 2010, Swiss exports to China increased more than 30 percent and Chinese exports to Switzerland increased more than 16 percent.Total trade volume between the two countries during the period hit 6.2 billion Swiss Francs (5.86 billion U.S. dollars), she added.Leuthard said she is optimistic about the future of Sino-Swiss bilateral trade, as the two countries are working on a free trade agreement."We are ending feasibility study (for the agreement) so both sides know the market, the opportunities and the risks very well. It is very promising," she said.After the joint feasibility study, the two sides will enter the final stage ahead of the signing of the deal, she added.Talks on the free trade agreement began in 2007 when Leuthard, as head of the Federal Department of Economic Affairs, signed an agreement with then-Minister of Commerce Bo Xilai. The agreement recognized the full market status of China.Switzerland hopes to be the first European country to have a free trade agreement with China, Leuthard told Xinhua in an interview last year.China is Switzerland's second largest trade partner in Asia after Japan.
HONG KONG, June 21 (Xinhua) -- After working in Beijing for 10 months, U.S. Ambassador to China Jon Huntsman said here Monday that trust was very important and was the fuel that powered the U. S.-China relations."Sometimes the tank is full, (and) sometimes it draws down. When it draws down like what happened early this year, the relations become sort of rocky," said Huntsman, who was invited by the Hong Kong General Chamber of Commerce as one of its 150th anniversary speakers.Huntsman, who became U.S. Ambassador to China in August last year, gave five observations on the U.S.-China relations.Firstly, the mandarin-speaking U.S. diplomat said there were a lot less dramas in the U.S.-China relations than many people might imagine despite the occasional alarmist headlines."If you view the U.S.-China relations with a distance, you get the sense that the wheel is coming off the bus. But when in the middle of the relations, you would get less drama," he said."There is more respect ... (and) the ability to communicate on the very very sensitive issues. I don't have a panic button, no restart button. The relations have ups and downs, but overall relations are strong, stable and resilient," Huntsman said.Secondly, he said there are areas of difference but there are many more areas of convergence and what unites us is a lot more important than what divides the U.S. and China."Our success is increasingly tied to identifying our shared interests and to working towards practical solutions," said the 50- year-old diplomat.Thirdly, Huntsman said the two nations were not seeking to " impose our world views on one another" or "to remake one another."The U.S. and China would seek to understand each other better, to continue dialogues and to improve future prospects, he said.Fourthly, Huntsman said while hot political issues often grab public attention, the foundation of the U.S.-China relations was largely commerce and trade.Back in 1974 and 1975, two-way annual trade between the U.S. and China was somewhere between 500 million U.S. dollars to 1 billion U.S. dollars, but this year the U.S.-China trade would reach 400 billion U.S. dollars, making it the world's largest commercial relations, according to Huntsman.Even in the sensitive areas of imbalance, it began to narrow, he said. In 2000, China was the 11th largest export market of the U.S. while it was the third largest now.Fifth, Huntsman said long-term U.S.-China relationship should be based on investment in the next generation and real trust would be earned by people-to-people interactions.Huntsman reminded people of being realistic on the expectations over the U.S.-China relations. "It would never be a 100-percent paradise, nor a cold-war staredown. It would probably be something in between," he added.Asked to comment on China's move to allow more flexibility in its yuan exchange rate, Huntsman responded carefully."I think it's a genuine attempt by China to address its exchange rate mechanism by providing greater flexibility. I know they have given great thoughts and consideration on going forward, knowing that any economic transition that results in stronger consumption, will at some point have to deal with the currency issue," he said.
HUZHONG, Heilongjiang, July 1 (Xinhua) -- More than 20,000 firemen are battling lighting-triggered forest fires in northeast China as continuous hot weather undermines their efforts, forest fire prevention authorities said.The fire, spotted Saturday, continued to spread Wednesday due to high temperatures after having weakened overnight, said Sun Zhagen, deputy director of China's National Forest Fire Prevention Headquarters.The forest fire first occurred in a part of the Greater Hinggan Mountains in Inner Mongolia Autonomous Region and then extended to the neighboring Heilongjiang Province.Rescuers were still struggling to put out the fire at more than 30 sites in the two regions, said a spokesman with the fire fighting headquarters at Huzhong, a major fire site.Further, another 6,000 fire fighters and additional equipment would be sent to control the fire in Heilongjiang, said the spokesman."As it is too hot to get close to the scene to put out the fire, we have to build fire barriers during the day and battle the blaze at night," said Pang Zhiqiang, a forest policeman.Sparks are being buried under the burnt debris of wood, often as deep as 30 cm and easily set on fire again by wind, said rescuers at Huzhong District."We felt thirsty, dizzy and had trouble breathing after staying in the burnt forest for just 10 minutes", one fireman said.Each of the rescuers, carrying about 25 kg of equipment on his back, could only carry four bottles of drinking water, a rescuer with the Heilongjiang forestry police force told a Xinhua reporter. "If the bottle water is not enough, we drink the river water, though there are worms in it."Some thirsty fire fighters said they even dug into the ground and breathed in the moisture. Also, many rescuers have become exhausted after remaining awake and working for four days.Temperatures in the Greater Hinggan Mountains Region have been hovering over 37 degrees Celsius recently and seven counties and districts have witnessed record-high temperatures, said Na Jihai, chief of the Heilongjiang Provincial Meteorological Bureau.Temperatures in Huzhong District hit 39.7 degrees Celsius Saturday, Na said.Fire-control experts in Inner Mongolia also said such an extremely-hot weather was rarely seen over the past six decades.The two regions have dispatched three aircraft and 10 cloud seeding rockets to conduct artificial precipitation operations, according to local meteorological departments.The dry and hot weather will continue for the next three days, but a light rain is forecast for Thursday, according to the National Meteorological Center of China Meteorological Administration."This is a battle between human beings and nature. We have to work hard to win," Sun Zhagen said.
XI' AN, July 16(Xinhua) -- German Chancellor Angela Merkel arrived in Xi'an, capital of northwest China' Shaanxi Province, Friday night to continue her China visit.During Merkel'stay in Xi'an, she'll attend a forum with Chinese and German business leaders and meet with provincial leaders.The visit will also take her to some historic sites, including the Terra-cotta Warriors, the Great Mosque at Huajue Lane as well as a local motor company.Merkel is on her fourth China visit since taking office. She flew to Xi'an from Beijing after finishing meetings with Chinese President Hu Jintao, Premier Wen Jiabao and vice President Xi Jinping on Friday.