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WASHINGTON, Oct. 10 (Xinhua) -- China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said here on Sunday.Westerners prefer Western medication method that is quick but drastic, while Chinese people prefer traditional Chinese medication that is slower and giving time for different herbs to take effect. A steep rise of Chinese currency yuan would cause harms, Zhou told a group of bankers and reporters during a luncheon speech at the 2010 annual membership meeting of the Institute of International Finance (IIF).Governor of the People's Bank of China (PBOC) Zhou Xiaochuan hosts a press briefing during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., capital of the United States, Oct. 8, 2010. To manage Chinese currency issue is a "complicated art," as you have to take into consideration domestic inflation, unemployment rate, gross domestic product (GDP) growth, balance of payments and other factors, he added.IIF, which represents over 420 world leading financial institutions headquartered in more than 70 countries, host its annual membership meeting in Washington D.C. between Oct. 8 and 10, when the International Monetary Fund and World Bank host their annual meetings in the same time.

BEIJING, Sept. 9 (Xinhua) -- Chinese President Hu Jintao on Thursday, the eve of Teachers' Day, called on teachers to embrace reform and innovation in teaching and enhance teaching standards.Hu made the call during a visit to the Renmin University of China in Beijing and its affiliated high school.During his visit to the school campuses, Hu held cordial talks with students, watched performances staged by students taking arts classes, and conveyed festival greetings to the teaching faculties.At the high school, Hu urged school authorities to respect students' individuality, tap their potentials, and help students improve their overall competence.At a lecture hall of the university, he called on university professors to be more productive in their scientific research so as to provide more reference for the government in decision-making.Hu also urged the university administration and teaching faculty to promote glorious university traditions, embrace reform and innovation, and improve its education quality.After the tour to the university, Hu met national model teachers and teachers who made outstanding contributions during the country's earthquake-relief work.He called on the country's teachers to learn from the model teachers, cultivate noble virtues, improve their professional standards and make greater contributions to the scientific development of the country's educational cause.

BRUSSELS, Oct. 6 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday called on the European Union (EU) to recognize China's market economy status and remove its arms embargo against it.Speaking at a China-EU summit here, Wen said the summit mechanism, the highest-level platform for bilateral political talks, should push for an end to the two outstanding difficulties.The summit should enhance its role as provider of strategic guidance, and clear the way for further advancement of China-EU ties, he told the summit, co-chaired by him, European Council President Herman Van Rompuy and European Commission President Jose Manuel Barroso. Chinese Premier Wen Jiabao attends the 13th China-EU Summit in Brussels, capital of Belgium, Oct. 6, 2010.China would work with the EU to achieve balanced and sustainable development of bilateral trade, improve investment environment and enhance cooperation in financial and fiscal policy-making processes, Wen added.Meanwhile, the two sides should make concerted efforts to further expand hi-tech cooperation and people-to-people exchanges, push for the reform of the international financial system and maintain coordination on climate change, energy security and hot regional affairs, the Chinese premier said.All responsible countries in the world should refrain from launching trade or currency wars, Wen said, expressing the hope that the European side would take an objective and fair stance on China's currency exchange rate.Wen said China has expressed its support for and confidence in the 27-member European bloc, and believes that a strong and stable EU is conducive to the world as well as to China.

BEIJING, Sept. 20 (Xinhuanet) -- Chinese e-commerce giant Alibaba Group on Sunday turned down the suggestion by Yahoo chief executive officer Carol Bartz that she be allowed to join the board of Alibaba, replying that Bartz should focus on improving Yahoo's own business first.Wang Shuai, chief marketing officer of Taobao.com under the group, said he has been "perplexed" by Bartz's decisions and attitudes since she became CEO of Yahoo in January 2009, claiming: "They demonstrate a lack of appreciation of the Internet, the mainland market and business partners."In response to Bartz's suggestion that she join the board of Alibaba, Wang said: "Perhaps it would not be a bad idea for her to concentrate her efforts on improving Yahoo's current situation."On Friday, Bartz touted Yahoo's 39 percent investment in Alibaba, a day after the Chinese Internet company said Yahoo had rejected its offer to sell the stake back to the group.The 62-year-old executive said the ideal time for Yahoo to exit from Alibaba will be after Taobao.com and Alipay.com, Alibaba's online shopping and payment subsidiaries, go public. She added that she will "probably" join the company's board later this year, when Yahoo gets a second seat on the board under its 2005 agreement with the company.Wang said on Sunday that Alibaba had no plans for Taobao.com to go public.Alibaba sold a 39 percent stake in the company to Yahoo in 2005 for billion and ownership of Yahoo China.The relationship between the two companies has been deteriorating recently, especially after Bartz replaced Yahoo's co-founder, Jerry Yang, to become chief executive of the company.

SHANGHAI, Oct. 2 (Xinhua) - China and Cambodia pledged to further cooperation and bilateral ties as top Chinese legislator Wu Bangguo met with Cambodian King Norodom Sihamoni in Shanghai Saturday."China attaches importance to relations with Cambodia and hopes to deepen and advance the mutually beneficial cooperation to lift bilateral ties," Wu told Sihamoni.Wu, chairman of China's National People's Congress (NPC) Standing Committee, said China cherished the special friendship with the Cambodian Royal Family.The friendship nurtured by Chinese leaders and former Cambodian King Norodom Sihanouk had weathered the changing international landscape, said Wu.Bilateral relations had seen frequent high-level visits, increased political mutual trust, and mutually beneficial trade cooperation and support on international and regional issues, said Wu.Wu also thanked the king for his support to the Shanghai World Expo and presence at the celebrations of China's National Pavilion Day at the Shanghai World Expo Friday.Sihamoni said the progress in bilateral relations was in the line with the two peoples' aspirations and the Cambodian Royal Family was committed to boosting bilateral cooperation.