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BEIJING, June 10 (Xinhua) -- China's foreign exchange regulator said Thursday it will strengthen monitoring of cross-border capital flows to reduce risk.The regulator will keep a close watch on the economic and financial situation home and abroad this year, the State Administration of Foreign Exchange (SAFE) said in its annual report on management of foreign exchange posted on its website.It will also enhance its monitoring of abnormal cross-border capital flows by cracking down on illegal private banks and internet-based speculation in foreign exchange.The SAFE will maintain a prudent approach to managing foreign currency reserves and will continue to improve its diversification strategy.China's balance of payments continue to expand, albeit slowly, despite the impact of the global financial crisis.At the end of 2009, China's foreign exchange reserves hit 2.4 trillion U.S. dollars, a 453 billion U.S. dollar increase from the end of 2008.China had gold reserves of 1,054 tonnes at the end of last year, the fifth largest in the world.Although gold has commodity and monetary properties, the global gold market is relatively small and illiquid, the report noted, adding that because of its volatile price and high cost of holding and trading, gold has limited utility in asset allocation.

BEIJING, July 25 (Xinhua) -- Chinese Vice President Xi Jinping Sunday called on overseas Chinese youths participating in a "root-seeking tour" to carry on the traditions of their ancestors, feed their mind with spiritual nutrition from the Chinese history and culture, and become communicators between cultures.Xi told more than 6,000 overseas Chinese youths from 51 countries and regions including Hong Kong, Macao and Taiwan, that they should become active promoters of cultural exchanges.Xi enouraged the youths to actively participate in various forms of cultural exchange activities, let more people know about the rich Chinese culture, and become "civilian ambassadors" between China and the places they live in.Chinese Vice President Xi Jinping delivers a speech at the opening ceremony of the "2010 Chinese Root-Seeking Tour" summer camp in Beijing, July 25, 2010.Xi made the call in a keynote speech at the opening ceremony of the "2010 Chinese Root-Seeking Tour" summer camp held at the Great Hall of the People.Xi said that overseas Chinese coming back to China to seek their roots show that they have a strong "sense of closeness" toward their ancestral home, and understand that their blood is Chinese and they are willing to carry on the Chinese culture that has lasted thousands of years."The Chinese culture is the only one of the world's ancient civilizations that continuously lasted 5,000 years. The unique cultural traditions are the common wealth of all the Chinese at home and abroad," he said.Xi stressed that China would always adhere to the road of "development, peace and cooperation" and make greater contributions to the progress of mankind's civilization.Since 1999, six sessions of the "Chinese Root-Seeking Tour" summer camp have been held by the State Council Overseas Chinese Affairs Office and the Chinese Overseas Exchange Association. During the following three days, camp members will visit historical sites and scenic spots in Beijing and have a get-together with their local peers. 

XIANGNING, Shanxi, July 2 (Xinhua) -- Eight miners trapped for 35 hours in a flooded colliery in north China's Shanxi Province were saved early Friday, rescuers said. One miner is still missing.The eight survivors were taken to hospital for treatment. They are in stable conditions, said Li Youcai, deputy chief of Shengping Coal Mine Workers' Hospital in Taitou Town.They are expected to recover and be discharged from hospital in one week, Li said.The first four survivors were rescued and sent to hospital at around 2:30 a.m.; the other four miners were helped out of the pit at around 4:10 a.m., rescuers saidThe eight survivors were known to be alive and had been in close contact with the rescuers via phone after the Shengping Coal Mine in Jixian County where they worked was flooded with torrential rain water Wednesday.The accident happened at around 5 p.m. when 23 miners were performing repair work underground. Fourteen miners managed to escape.Rescuers were still trying to find out the whereabouts of the last missing miner, who lost contact with the others after the flood.The Shengping Coal Mine, owned by the Shanxi Coal Transportation and Sales Group Co., Ltd., has an annual output of 900,000 tonnes.

ULAN BATOR, June 22 (Xinhua) -- Mongolian Prime Minister Sukhbaataryn Batbold said Tuesday Chinese Premier Wen Jiabao's visit to Mongolia early June contributed significantly to bilateral relations and cooperation, especially in economic and commercial ties.The high-level meeting mechanism played an important role in developing comprehensive Mongolia-China cooperation, Batbold said in an interview with China's English-language newspaper China Daily.Wen visited Mongolia on June 1-2. The two premiers agreed to strengthen the cooperation in areas including mining, infrastructure, culture and education, and to increase trade volume.As a landlocked country, Mongolia wants to boost the cooperation in logistics and transportation services.Batbold said the two countries had great opportunities to cooperate in developing agriculture and infrastructure, and providing jobs related to manufacturing value-added products.The Mongolian government would continue its open policies and would encourage the development of enterprises with environmentally friendly technologies and social responsibilities, he said.

Xi'AN, July 18 (Xinhua) -- Chinese Premier Wen Jiabao said China's economic performance is consistent with the government's macro-economic controls while on a three-day visit to Xi'an, capital of northwest China's Shaanxi Province, that ended Sunday.Wen visited Shaanxi Automobile Group Co. Ltd. The 42-year-old company is one of China's top five truck producers.Wen inspected an assembly line that produces a heavy truck every six minutes. He also talked with workers and fitted wheels to a tractor truck under the workers' direction."We must maintain the continuity and stability of macro-economic policies to ensure favorable external conditions for enterprises. But a company's growth ultimately relies on its inner drive. Companies should improve quality, develop new products and expand their market," he said.Wen also visited Shaanxi Huasheng (Group) Corp. Fruit Co. Ltd., a high-tech agriculture company in the apple industry. The company has production bases in more than 20 counties."The global economy is recovering, but at a slow pace. There are many uncertainties. We should expand domestic demand while stabilizing overseas demand," he said."Only through sound and relatively fast economic growth can we ensure employment and facilitate the restructuring of the economic development mode," he said.Wen also visited the Sixth Research Institute of the China Aerospace Science and Technology Corporation and the Northwest Institute for Non-ferrous Metals Research."The world is experiencing a technological revolution and one of its key fields is materials technology. We must always remember that high technologies cannot be bought. We have to rely on ourselves," he said.Wen visited Zhujiang New Town, a residential community providing affordable housing for low-income groups. There, he entered the home of 72-year-old He Jing, a retired teacher.

来源：资阳报