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BEIJING, March 7 (Xinhua) -- China should speed up reforming its financial system to make the yuan an international currency, said political advisors Saturday. "A significant inspiration to draw from the global financial crisis is that we must play an active role in the reconstruction of the international financial order," said Peter Kwong Ching Woo, chairman of the Hong Kong-based Wharf (Holdings) Limited. The key to financial reform is to make the yuan an international currency, said Woo in a speech to the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body. That means using the Chinese currency to settle international trade payments, allowing the yuan freely convertible on the capital account and making it an international reserve currency, he said. China's yuan, or Renminbi, can be freely convertible on the current account but not on the capital account, preventing it from being a reserve currency or a choice in international trade settlement. China has announced trial programs to settle trade in the yuan, a move analysts say will facilitate foreign trade as Chinese exporters might face losses if they continue to be paid in the U.S. dollar. The dollar's exchange rate has become more volatile since the global financial crisis. Economists say the move will increase the acceptance of the currency in Asia, which will help it become an international currency in the long run. The status of the yuan as an international currency will benefit China by giving it a bigger say in world financial issues and reducing the reliance of its huge foreign reserves on the U.S. dollar, some analysts say. Other analysts argue a fully convertible yuan will hurt China as it would allow massive capital outflow during a financial crisis. Meanwhile, Chinese authorities remain cautious. It's possible that the global financial crisis will facilitate the process of making the yuan internationally accepted, but there's no need to push for that, Yi Gang, vice central bank governor, told Xinhua earlier this month. That process should be conducive to all sides, he said. Xu Shanda, former vice director of the State Administration of Taxation and a CPPCC National Committee member, urged for faster paces in making the yuan an international currency as a way of increasing national wealth. He said the United States and the European Union have obtained hefty royalties from the international use of their currencies while China has become the biggest source of that income. A royalty, or seignior age, results from the difference between the cost of printing currency and the face value of the money. "China's loss due to royalty payment has far exceeded the benefit of not making the yuan an international currency," he said in a speech to the annual session of the CPPCC National Committee, without elaborating. China's State Council, or Cabinet, said last December it would allow the yuan to be used for settlement between the country's two economic powerhouses -- Guangdong Province and the Yangtze River Delta -- and the special administrative regions of Hong Kong and Macao. Meanwhile, exporters in Guangxi Zhuang Autonomous Region and Yunnan Province will be allowed to use Renminbi to settle trade payments with ASEAN (Association of Southeast Asian Nations) members.
NEW YORK, March 1 (Xinhua) -- Leaders of some Chinese-American communities and a Chinese-language newspaper on Sunday lauded Premier Wen Jiabao's online chat with netizens in Beijing a day earlier. Wen's online chat with netizens shows that the top leadership of the Communist Party of China (CPC) is paying ever closer attention to public opinion, said Steven Wong, acting chairman of the United Federation of Chinese Associations. Chinese Premier Wen Jiabao holds an online chat with netizens jointly hosted by the central government website and Xinhua website in Beijing, China, Feb. 28, 2009. Premier Wen rushed to the affected areas immediately after the snow disaster in China's south and the devastating earthquake in the southwest last year to comfort survivors, winning him widespread respect, Wong said. On the eve of the opening of the annual sessions of the National People's Congress and the Chinese People's Political Consultative Conference, Wen held direct dialogue with netizens to solicit opinions and suggestions from the public, which is not only a boost to public morale, but is also conducive to solving problems in society at large, he said. Liu Jianmin, chairman of the Greater Los Angeles Area Federation of Promoting China's Unification, said Wen's online chat with Chinese netizens is all the more meaningful as it was held on the eve of the annual meetings of the national legislature and the top advisory body. Through direct dialogue with vast numbers of netizens, the Chinese leaders could have a deeper understanding of what the ordinary people have in their minds. Chinese Premier Wen Jiabao(L) holds an online chat with netizens jointly hosted by the central government website and the Xinhua News Agency website in Beijing, China, Feb. 28, 2009The World Journal, the widest-circulation Chinese-language newspaper in North America, carried the online chat as the headline news on its Chinese Mainland edition. The report drew attention to the remarks of Premier Wen who emphasized the importance of confidence to fighting the spreading global financial crisis, pledged continued efforts to improve health care and stressed that training and preferential tax measures were needed to encourage rural migrant workers to start their own businesses.

BEIJING, March 23 (Xinhua) -- Chinese President Hu Jintao held talks with his visiting Uruguayan counterpart Tabare Vazquez here Monday. They agreed to promote bilateral relations to a higher level. Chinese President Hu Jintao (L) hosts a welcoming ceremony for Uruguayan President Tabare Vazquez at the Great Hall of the People in Beijing, capital of China, March 23, 2009.During the meeting, Uruguay recognized the full market status of Chinese economy, according to press release from the Chinese Foreign Ministry. Hu spoke positively about Uruguay's adherence to the one-China policy and its firm support on issues concerning Taiwan and Tibet. He highlighted the rapid growth of bilateral relations since the two forged diplomatic relationship 21 years ago. China has become the third biggest trading partner of Uruguay and the two sides have enjoyed close coordination and cooperation in regional and international issues, Hu said. Vazquez said the two countries have made important progress in cooperation in various fields since they established diplomatic relations. The two sides share broad consensus on many major issues. Both sides support peaceful resolution to international disputes and oppose interference of other country's internal affairs, Vazquez said. The growth of bilateral relations will serve the interests of both nations and their peoples, Vazquez added. Hu suggested the two sides strengthen political relations and expand dialogues at various levels. He also called for expanded cooperation in investment, trade and technology for their mutual benefits. He named agriculture, fishery, product quality inspection, software and engineering technology consultation as fields where cooperation should be strengthened. "The Chinese government encourages its companies to start businesses and invest in Uruguay and is willing to boost bilateral cooperation in energy, information technology industry, biological technology and agricultural technology", Hu said. He also proposed the two nations boost cultural and people-to-people exchanges by expanding cooperation in culture, education, sports, media, and tourism sectors. "China will make joint efforts with developing countries, including Uruguay, to address global challenges such as the current international financial crisis in an aim to maintain and promote peace, stability and development", the Chinese president said. He added that China supports the integration process of the Common Market of the South and is willing to develop friendly and cooperative ties with its member states. The two heads of the state also consulted on the international financial crisis. Hu said China is willing to strengthen cooperation with developing countries including Uruguay to jointly face up to various global challenges such as the financial crisis, and safeguard and promote peace, stability and development across the world. He said China attaches high importance to the G20 Summit scheduled for April 2 in London and is committed to intensifying dialogue and communication with the participating parties to ensure the summit will produce positive outcomes. Vazquez stressed the necessity for the establishment of a new international financial order and expressed his hope the summit will lead to positive results that will help alleviate the impact of the financial crisis on developing countries. After the talks, the two presidents witnessed a signing of a number of bilateral agreements. At the invitation of Hu, Vazquez arrived in Beijing Saturday morning for a six-day state visit. Vazquez will leave Beijing for a visit to Shanghai on March 24. This is President Vazquez's first visit to China since he took office in 2005.
HONG KONG, April 12 (Xinhua) -- About 400 enterprises in the Chinese mainland had been selected to participate in the Renminbi cross-border trade settlement pilot program, Under Secretary for Financial Services and the Treasury of Hong Kong Julia Leung said here Saturday. Speaking on a radio talk show here Saturday, Leung said enterprises in Hong Kong would soon be able to settle trades in Renminbi through the banks with the selected companies in the Chinese mainland. Noting the program can reduce the risks and cost arising from fluctuations in exchange rates, she said Hong Kong banks could expand extensively their Renminbi services from individual clients to enterprises. When asked whether the scheme includes trade financing, Leung said authorities in the Chinese mainland would announce the details soon. "The Monetary Authority has made full preparation for the program including conducting tests on the Renminbi clearing system," Leung noted, adding that "the system can start operation once the Chinese mainland comes up with the operational details." When asked whether the Hong Kong Special Administrative Region (HKSAR) government would change Hong Kong's linked exchange rate with the U.S. dollar, the under secretary said the system had been working effectively and the HKSAR government had no plan to change it.
LHASA/BEIJING, March 28 (Xinhua) -- The first Serfs Emancipation Day was celebrated across Tibet Autonomous Region on Saturday, while people from elsewhere in China expressed their wishes to the Tibetans. CELEBRATION ACROSS TIBET In Lhasa, readers of the broadsheet Tibet Daily and Tibet Economic Daily found that Saturday's edition of both newspapers became thicker--special issues were published to introduce the changes since democratic reform in 1959. In the Ngaqen village, fully attired Tibetans gathered in the village club to watch the televised grand celebration held on the square in front of the Potala Palace about 30 kilometers away in the seat of Lhasa. Tsamjo, 66, who lived in a two-story building, said her life was better than "the landlord in the past". She had worked as a serf for seven years before the democratic reform. "At that time, our plot of land was smaller than a palm, and our room was as big as the nose of a cow," she said. After the ceremony, villagers performed traditional Tibetan dances and held a contest of tug-of-war. Tibetan people in traditional dress celebrate the first Serfs Emancipation Day at home in Qamdo, southwest China's Tibet Autonomous Region, March 28, 2009In the Tashigang village of Dagze county, more than 1,000 people enjoyed their own party. "We have prepared for about a month for the party on our own holiday," 19-year-old Degyi said while doing the makeup. As a young girl, she admitted that she had little knowledge about the past. "But I feel sad whenever listening to my grandparents telling the stories," she said. In the Qamdo prefecture in east Tibet, slogans written on red scrolls hailing the Serfs Emancipation Day could be seen on major roads, where sellers in vegetable markets were waiting for their customers, monks in monasteries were chanting sutras and street vendors were soliciting business. Life was as peaceful as ordinary days. In the Tianjin square, dozens of passers-by stopped to watch performances for the holiday. In Beijing, Serfs Emancipation Day became the hottest topic among students in the Tibet Middle School. Many students hummed the old song "Freed serfs sing in happiness". "My grandparents were both serfs," said an eleventh-grader Dawa Dorje. A Tibetan man in traditional dress plugs the national flag on the roof of his house during the celebration of the first Serfs Emancipation Day at home in Qamdo, southwest China's Tibet Autonomous Region, March 28, 2009 "They told me that they tied stones to their feet as shoes, and my granny became blind because she had no money to cure her eye illness," she said. Currently there are 810 Tibetan students in the school, whose accommodation, clothes, health care were all funded by the government. Main celebration for the holiday was held on the square in front of the Potala Palace in Lhasa, capital city of Tibet, at 10 a.m. The gathering was presided over in both Tibetan and Mandarin by Qiangba Puncog, chairman of the regional government of Tibet, who was dressed in a traditional Tibetan robe. It was attended by about 13,280 people. After the national flag was hoisted against the backdrop of the grand Potala Palace and snow-capped mountains in the distance, representatives of former serfs, soldiers from the People's Liberation Army (PLA) and students delivered speeches. Tibet's Communist Party chief Zhang Qingli was the last to speak. "Burying feudal serfdom and liberating the one million serfs in Tibet was a natural development in history ... a milestone in the worldwide campaign to abolish slavery, a sign of progress in human rights," he said. "Tibet belongs to China, not the a few separatists or the international forces against China. Any conspiracy attempting to separate the region from China is doomed to failure. The sky in Tibet will forever be blue, and the national flag will flutter high," he noted. The ceremony lasted for more than an hour. REMEMBERING THE PAST As usual, foreign "critics" jumped up before the Serfs Emancipation Day, saying China exaggerated the cruelty of traditional Tibetan life to disguise a power grab, and that "serfdom" is too loaded to describe the Tibetan system. But 73-year-old Baya in Qamdo, who was born to be a Tralpa, or a kind of serf whose life was better among all, said she would never return to the old society. Tibetan people in traditional dress celebrate the first Serfs Emancipation Day at home in Qamdo, southwest China's Tibet Autonomous Region, March 28, 2009 "I began to graze cattle when I was nine years old," she said. "There were many wolves in the pasturing area, and the aristocrats always asked us to deliver messages in midnight." "We were afraid of the ghost, and I once witnessed a horde of wolves attack a lama..." she was apparently still in fear. What they wore then was goat's skin, dried under the sun, because they didn't have cloth. They didn't have shoes. "If the feet bled, we just apply the oil of the goat to the wounds," she said. Dinner was potherb soup. "We didn't have Tsampa (food made of barley floor) to eat, let alone rice and wheat." Baya said her first taste of sugar was after the People's Liberation Army (PLA) entered Tibet. The sugar was brought to there from Yunnan Province. Zhao Qingui, a 73-year-old Tibetan veteran soldier, joined the PLA in 1950. "At that time, only the aristocrats had tooth paste, tooth brush, biscuit, wool and fruits. The majority of people, or the serfs, could only wish not to be starved," he said. Sun Huanxun, a PLA veteran who went to Tibet also in 1950 and stayed there, recalled what he saw in Lhasa before the democratic reform. "Serfs wailed and begged from passers-by, some of whom had their legs chopped by the landlords, some have their eyes gouged out and some without hands," he said. In contrast, the landlords were in luxurious dress, some riding on the backs of their slaves. "In their houses there hung whips, knives and shackles," he added. Local residents compete tug-of-war during the celebration ceremony to mark the first Serfs Emancipation Day in Gaba village in the suburb of Lhasa, capital of southwest China's Tibet Autonomous Region, March 28, 2009. A grand celebration ceremony is held here on Saturday to mark the first Serfs Emancipation DayQi Jiguang, a historian from the Deqen Tibetan Autonomous Prefecture, recited the sentences he read from slave contracts: "I would be your slave so long as the snow-capped mountain didn't collapse, the water from rivers didn't dry up." The Khesum village in Shannan Prefecture was hailed as the first village to implement the democratic reform. Before the Serfs Emancipation Day, residents in the village wrote an open letter: "We could never forget the old adage: there are three knives over the heads of serfs--heavy labor, heavy rent, and high interest; there are three paths before their eyes--flee from famine, become slave, or go begging." "We would never return to the dark, backward, and cruel fuedal serfdom society. We would cherish the life now like cherishing our own eyes," it reads. FOR BETTER FUTURE Chinese President Hu Jintao visited an exhibition marking the 50th Anniversary of Democratic Reform in Tibet, at the Cultural Palace of Nationalities in Beijing. During his visit, he said that the "good situation" in today's Tibet was "hard-earned and should be highly cherished." He also noted that the reform 50 years ago was "the most extensive, profound and progressive social transformation in the history of Tibet. Tibet should move from being "basically stable" to "peaceful and stable in the long run," he stressed. On the Serfs Emancipation Day, 25 villagers from the Ngoklog village in Qamdo joined the Communist Party of China. "I am happy to join the Party on this special day," said Asum. Tibetan people perform to mark the first Serfs Emancipation Day at Tianjin Square in Qamdo, southwest China's Tibet Autonomous Region, March 28, 2009Gyezang, 33, is an English teacher from Xigaze. "Establishment of the day could help us remember the darkness in the past and cherish the life more," she said. Dawa Lhamo, a nine-year-old student from the No. 3 primary school in Lhasa, was happy on Saturday although she was not familiar with the past. "I will become a soldier when I grow up, to protect Tibet," she said. People from outside Tibet also expressed their wishes to Tibetans. Chen Qiuxiong, leader of a working group dispatched from eastern Fujian Province to help with development of Tibet, said they have built a number of infrastructure projects serving farming and animal husbandry in Tibet and helped with the development of culture and education and health care as well as poverty reduction. "Tibet is now in the period of development and stability, and we will do more for the development of the region," Chen said. Liu Lumei, a deputy researcher with the Xinjiang Uygur Autonomous Regional Academy of Social Sciences, said that the establishment of the Serfs Emancipation Day embodies the common wish of all the Chinese people for the stability and development in Tibet.
来源:资阳报