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WASHINGTON, April 25 (Xinhua) -- World Bank member countries reached an agreement on Sunday to shift more power to emerging and developing nations, under which China's votes increased to 4.42 percent from 2.77 percent, making it the third largest voting power holder in the Washington-based international institution.In total, the World Bank approved a 3.13-percentage-point increase in the voting power of the Developing and Transition Countries (DTCs), making it 47.19 percent now and representing a total increase of 4.59 percentage points for the DTCs since 2008."This increase fulfills the Development Committee commitment in Istanbul in October 2009 to generate a significant increase of at least 3 percentage points in DTC voting power," said the World Bank in a statement.Chinese Finance Minister Xie Xuren (C, Front) and other participants pose for a group photo prior to the IMF-World Bank Development Committee meeting in Washington April 25, 2010.After a first phase of reforms agreed in 2008, developing countries have an around-44-percent share in the World Bank.At the Pittsburgh G20 summit in September 2009 and the Istanbul Development Committee meeting in October 2009, the bank's shareholders agreed to raise the voting rights to at least 47 percent for developing and transition countries."We were just pleased that we are getting close to reflecting China's increasing share in world economy, and that is reflected in edited voting share," World Bank President Robert Zoellick told Xinhua after the Development Committee meeting."Today was a good day for multilateralism," said Zoellick. " This shift of shares is agreed by our shareholders. They try to recognize the change in the world economy and include the contribution to the development in the methods, which can encourage developing countries in transition."

SHENYANG, May 23 (Xinhua) -- Chinese Vice Premier Hui Liangyu has encouraged local governments and farmers in northeast China to expand grain production to stabilize the nation's food supply.Hui made the call during an inspection tour to Liaoning Province, a major rice-producing province in northeast China, from Friday to Saturday.The grain planting situation this summer is challenging as persistent cold weather since last winter has ravaged major production zones in the north.Hui said northeast China is a key rice production area. With good quality, rice produced here has a great market demand. Hui encouraged farmers to plant more rice and expand production capacity.According to the Ministry of Agriculture, northeast China's grain output accounted for about one fifth of the country's total food yield last year.Grain output reached 530.8 million tonnes in 2009, the sixth consecutive year of growth in grain yield.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.

BEIJING, May 28 (Xinhua) -- As a bilateral agreement, the Japan-U.S. Treaty of Mutual Cooperation and Security should not harm the interests of China and other third parities, said Foreign Ministry spokesman Ma Zhaoxu here Friday.Ma made the remarks in response to a question about Japan's latest claim over the Diaoyu Islands in a news report.According to the report, Japan said on Thursday the Diaoyu Islands were a part of Japan and the U.S. would be obligated according to the treaty to engage in military conflicts between China and Japan over the island should they occur.Ma said China has indisputable sovereignty over the Diaoyu Island and adjacent islets, which have been an inalienable part of China's territory since ancient times.

BEIJING, April 1 (Xinhua) -- China's average daily stock trading volume at the Shanghai Stock Exchange shrank 35.2 percent month on month to 96.85 billion yuan (14.2 billion U.S. dollars) in February, the People's Bank of China (PBOC) said Thursday.China's stock market was closed from Feb. 13 to 19, for the Spring Festival, the most important Chinese traditional holiday.Analysts held that trading was normally bleak in the Spring Festival month, as some investors preferred to cash in profits before going back to hometowns for family gatherings and some were cautious before the release of new economic data after the holiday.The Spring Festival fell in January last year. The daily average stock turnover was down 3.38 billion yuan to 65.4 billion yuan in January 2009 compared with December 2008, according to the PBOC.The benchmark Shanghai Composite Index edged up 110.58 points from Feb. 1 to 3,051.94 points on Feb. 26 this year, the last trading day in the month, the central bank said in a financial market report released Thursday on its official website.China's financial market kept its smooth run in January and February, said the PBOC.The Shanghai Composite Index gained 1.23 percent, or 38.32 points, to end at 3,147.42 points Thursday. The turnover at the Shanghai Stock Exchange was 154 billion yuan, showing investors' heartened confidence in economic recovery.Thursday's official figures revealed that the Purchasing Managers' Index (PMI) for China's manufacturing sector stood at 55.1 percent in March, up 3.1 percentage points from February, the 13th straight month that the index was above 50 percent.

来源：资阳报