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ROME, Jan. 8 (Xinhua) -- Chinese Ambassador Sun Yuxi announced Chinese culture year in Italy at a press conference at the Chinese embassy here Friday.     The culture year, which follows Italian year in China in 2006, will officially start in September.     "The Chinese culture year in Italy is set to be a central obelisk supporting further exchange between the two countries. It is a crucial project on which both governments have long been working," said Sun.     The ambassador said nine Chinese central government departments and 22 local authorities would be involved in organizing more than100 events all over Italy, including performances of traditional Chinese musical bands, dances and operas. Chinese Ambassador to Italy Sun Yuxi (R) addresses a press conference about the Chinese cultural year to be held in Italy, in Rome Jan. 8, 2010    Meanwhile, business conferences will offer opportunities for important meetings between Chinese and Italian entrepreneurs and facilitate trade agreements.     The Italian government has nominated former culture minister Giuliano Urbani as coordinator of the organizing committee, which is composed of representatives from 13 Italian government ministries.     Sun said 2010, which marks the 40th anniversary of diplomatic relations between China and Italy, is set to be a crucial year for political and economic ties.     China-Italy ties were "in the best period ever in the history of diplomatic relations," the ambassador said.     Cooperation at all levels had recently been enhanced and Italy was a crucial partner for China, he added.     The press conference was the first of a series preparing the ground for the Chinese culture year in Italy.     The ambassador is scheduled to give a press conference at the beginning of each month of this year.

NANJING, Nov. 29 (Xinhua) -- China hopes the world's major reserve currency will maintain stable, said Chinese Premier Wen Jiabao here Sunday when meeting with three Euro Group leaders.     He was speaking with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Union Economic and Monetary Affairs Commissioner Joaquin Almunia ahead of the 12th EU-China summit.     China has maintained the stability of the exchange rate of the Renminbi (RMB), making an important contribution to global financial stability and economic development, he said.     He said China will continue to enhance the flexibility of the RMB exchange rate, acting on its own initiative and in a controllable and gradual manner, and keep it basically stable at reasonable, balanced levels.     Juncker said the EU is willing to strengthen communication and coordination with China on monetary policies.

BEIJING, Dec. 9 (Xinhua) -- China's top legislator Wu Bangguo said Wednesday the country regards Egypt as one of the most important strategic cooperative partners among Arabian and African nations.     "We attach great importance to the relations with Egypt," Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, told visiting Deputy Speaker of Egyptian People's Assembly Zeinab Radwan. To promote relations between China and Egypt, both influential countries in the world, conformed to the fundamental interests of the two nations and the two peoples, and was also conducive to regional and world peace and prosperity, Wu said. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress (NPC), shakes hands with visiting Deputy Speaker of Egyptian People's Assembly Zeinab Radwan in Beijing, Dec. 9, 2009.    "We are ready to work with Egypt to maintain high-level exchanges, increase friendly cooperation and strengthen coordination in international affairs," Wu said, noting that this would help achieve common development and benefit the two peoples.     Wu also applauded Egypt's long-term and firm support to China on issues concerning Taiwan, Tibet and Xinjiang.     Radwan was here to attend the third meeting under a regular exchange mechanism between the parliaments of China and Egypt.     Hailing the role of the regular exchange mechanism, Wu said it provided the two parliaments with direct, in-depth and effective channels to communicate with each other, and had become an important platform for parliamentary exchanges.     Under the active promotion of the leaders from both nations, the two parliaments set up the regular exchange mechanism in 2007.     Wu hoped the two parliaments would further improve the mechanism.     Echoing Wu, Radwan said the Egyptian People's Assembly would make use of the mechanism construction to advance the level of parliamentary cooperation between the two sides.     As to Egypt-China ties, Radwan said the two countries in recent years had witnessed frequent high-level visits and fruitful cooperation in investment, tourism, economy and trade.     Egypt valued the relations with China, and would work with the country to enhance exchanges and cooperation in various sectors.     Radwan is visiting China from Dec. 4 to 10 at the invitation of the NPC Standing Committee.

BEIJING, Nov. 25 (Xinhua) -- China's Ministry of Commerce (MOC) Wednesday voiced strong opposition against the United States' imposition of anti-subsidy tariffs on Chinese oil well pipes, saying the move was "discriminatory."     The United States made a decision Tuesday to impose duties ranging from 10.36 percent to 15.78 percent on Chinese oil well pipes for alleged unfair subsidies.     "China is strongly opposed to the U.S. move of continuing with its discriminatory measures and arbitrarily raising the anti-subsidy duty rates," said Yao Jian, spokesman of the MOC.     Yao reiterated that the United States should live up to its promise made at the G20 Summit and the consensus reached earlier by leaders of the two countries to fight trade protectionism.     Earlier this month, the U.S. Commerce Department also slapped preliminary anti-dumping tariffs on the pipe up to 99 percent based on the allegation that "Chinese producers/exporters have sold OCTG (oil country tubular goods) in the United States at prices ranging from zero to 99.14 percent less than normal value."     Customs data showed that pipes involved were worth 3.2 billion U.S. dollars in 2008, taking up 46 percent of the total amount of Chinese steel products exported to the United States (6.9 billion dollars).     More than 90 companies were affected, including major steel companies like Baosteel, Tianjin Pipe and Ansteel.

SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company.     The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai.     The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company.     The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects.     Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies."     The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company.     The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent.     Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.

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