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BEIJING, Nov. 26 (Xinhua) -- China has tightened settlement and sale of foreign exchange by individuals to curb non-normal cross-border capital inflow, according to a statement of the State Administration of Foreign Exchange (SAFE). Banks should deny, review or report to foreign exchange regulators, individual purchases or settlements of foreign exchange suspicious of splitting up one deal into several smaller ones to dodge limits on the size of exchange transfer by one person, which is understood to be one of the channels for hot money inflow, said the statement on Wednesday. Practices including one overseas individual or institution remitting foreign exchange to five or more individuals within China who settle them respectively, or five or more individuals buying foreign exchange and remitting them to one and the same overseas individual or institution, on a single day, every other day or consecutive days, are considered exchange splitting behavior, said the SAFE. China in 2007 set the limit of up to 50,000 U.S. dollars per year for an individual to exchange between yuan and foreign exchange.
XI'AN, Nov. 16 (Xinhua) -- Chinese Vice President Xi Jinping has called for more efforts to carry forward the Yan'an Spirit and stay realistic and pragmatic to build the Party. Yan'an, a city in northwestern Shaanxi Province, served as the CPC-led revolutionary base during the 1930s-40s before the Communist Party of China (CPC) took power in 1949. To promote the Yan'an Spirit, the primary thing is to adhere to correct political direction, said Xi, also a member of the Standing Committee of the CPC Central Committee Political Bureau, during a tour in Shaanxi from Nov. 13 to 16. Chinese Vice President Xi Jinping (2nd R) talks with family members of local farmer Fan Mingliang (2nd L) in Ansai County, during his visit in northwest China's Shaanxi Province, Nov. 14, 2009"We must also keep in mind the tenet of serving the people wholeheartedly and adhere to the spirit of ideological emancipation, seeking truth from facts and keeping pace with the times..." Xi said. During his trip, Xi visited a number of villages, factories, schools and research institutions. He also visited some areas which were badly hit by the catastrophic May 12 earthquake last year. Accompanying Xi during his tour was Li Yuanchao, member of the CPC Central Committee Political Bureau and the Secretariat of the CPC Central Committee, and head of the Organization Department of the CPC Central Committee.

SANAA, Oct. 24 (Xinhua) -- A Chinese military vessel arrived in the Aden port Saturday on a goodwill official visit for the coming several days, official SABA news agency reported. The Chinese military vessel, named Chan Dokouh, is affiliated with the Chinese naval fleet now cruising in the international waters, SANA said. The military ship and its crew were received by a number of senior Yemeni military and security officials at the southern military naval base in Aden, said the report. The visit of the Chinese military vessel to Aden port came as part of the joint bilateral cooperation between Yemen and China, particularly in fighting terrorism, counter-smuggling, combating piracy and ensuring safety of navigation through international waterways, added the report.
NEW YORK, Jan. 7 (Xinhua) -- Stopping importing from China may result in an increase in the U.S. trade imbalance, chief economist of the World Bank Justin Yifu Lin said during a speech here on Thursday. Addressing the audience at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange, Lin said the imbalance between the United States and China actually "reflects some kind of specialization due to the state of development." The type of products that China exported to the United States are labor-intensive living necessities that the United States will never produce anymore and has no competitive advantages, Lin said. Chief economist of the World Bank Justin Yifu Lin delivers a speech at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange in New York, the U.S., Jan. 7, 2009. He said stopping importing from China may result in an increase in the U.S. trade imbalance "If China will not export those type of labor-intensive products, U.S. will have to import from other middle income or lower income countries," he added. "And very likely, the cost of importing from other countries will be higher." Lin said U.S. companies always have a free choice to import from China or other countries, and they currently choose China is because the cost is lower. "If U.S. has to switch the source of the import from another country, (U.S.) people will have to pay for them no matter how high the price is because that is a definite necessity," Lin said," that means most likely the trade imbalance in U.S. may increase."
TAIPEI, Oct. 25 (Xinhua) -- Taiwan leader Ma Ying-jeou on Sunday called for both sides across the Taiwan Strait to resolve hatred through communication and negotiation and make peace an eternity. Ma made the remarks in a ceremony to unveil a memorial square, which was constructed on the site of the Kuningtou battle in Kinmen of Taiwan, according to local media reports. Troops of the Communist Party of China and the Kuomintang had fierce fightings and suffered heavy losses at the site on Oct. 25,1949, the year when the People's Republic of China was founded. Battlefield should be turned into a square of peace, opposition should be replaced by reconciliation, and war by peace, Ma said. Ma called for efforts to find a way that is acceptable for both sides to settle cross-Strait issues.
来源:资阳报