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TASHKENT, May 1 (Xinhua) -- When and how the exchange rate of Chinese Yuan should be adjusted must be decided by the Chinese government, the president of the Asian Development Bank (ADB) said Saturday.Addressing the opening press conference of the 43rd annual meeting of the ADB's Board of Governors, Haruhiko Kuroda said the yuan issue was "up to the Chinese authorities to decide."Meanwhile, Kuroda also said it was up to Chinese authorities to decide how and when to implement exit strategies.Kuroda acknowledged China played a leading role in the recovery of the Asia-Pacific region from the global financial crisis thanks to the 8.7-percent growth of its gross domestic product (GDP) last year.Haruhiko Kuroda, president of Asian Development Bank (ADB), speaks during a press conference in Tashkent, Uzbekistan, May 1, 2010. ADB began its annual meeting of the Board of Governors in Uzbekistan on Saturday. Kuroda said the Chinese economy would maintain a high growth rate, with a forecast of 9.6 percent of GDP growth this year and 9.1 percent next year.Despite the fact that China's substantial fiscal measures were not the same as those implemented during the crisis, Kuroda believed that sooner or later the government would mull over an exit from these measures given the strong economic growth.Besides China, all Asian countries should carefully time their exit strategies to unwind their anti-crisis fiscal and monetary policy measures, he said.The ADB began its 43rd annual meeting on Saturday with a pivotal focus on poverty, climate change and regional integration. It is the first time the ADB held its annual meeting in a Central Asian state.
BEIJING, May 22 -- China's stock index futures wrapped up their first month of trading on Friday as the May contract was delivered smoothly without triggering sharp declines or volatility in the spot market.The May contract rose 0.51 percent to close at 2749.8 points while the June contract, the most actively traded, rose 1.44 percent to close at 2801 points. The CSI 300 Index, which tracks 300 large caps traded on the Shanghai and Shenzhen bourses gained 1.57 percent to 2768.79 points.The smooth settlement of the May contract eased investors' worries about the "expiration day effect", with fears that it would trigger sharper volatility on the spot market due to more active trading of index futures as investors rushed to close positions for May and changed to June contracts on that day."The trading volume and the holdings of the May contract dramatically decreased in the past month, which significantly reduced the incentive of price manipulation in the spot market," said Yang Cui, an analyst at Changjiang Securities.Chen Zhenzhi, an analyst at Guangfa Futures, said the impact of the expiry day was very limited due to the fact that most institutional investors have not participated in index futures trading.The China's index futures market is still dominated by retail investors although securities firms and equity funds have been allowed to trade the new financial instrument. The securities regulator required that institutional investors should trade index futures for hedging rather than speculative purposes.Trading of index futures contracts, agreements to buy or sell the CSI 300 Index at a present value on an agreed date, allow investors to profit from both gains and declines in the market. Chinese investors could previously only profit from gains in equity prices.Some analysts said the launch of the financial instrument was one of the reasons leading to the recent decline as the short selling mechanism increases market volatility in the short term.The benchmark Shanghai Composite Index has declined 17 percent since the launch of index futures trading on April 16. It has been ranked as one of the world's worst performers along with some debt-troubled European countries.But Wang Lianzhou, former deputy director of the National People's Congress' finance and economics committee, was recently quoted by Chinese media as saying that the market's decline should not be blamed on index futures, which is designed to make the market more professional and less speculative.

BEIJING, April 29 (Xinhua) -- China will shoulder more international responsibilities as it is the aspiration of the international community and in China's own interest, too, Chinese Premier Wen Jiabao said here Thursday afternoon.Wen made the remarks while meeting the press with European Commission President Jose Manuel Barroso after talks at the Great Hall of the People.Wen said China has made remarkable achievement in reform, but that Chinese leaders remain clear-minded about the challenges the country faces."We are determined to pursue reform and opening up and peaceful development and are confident in the future of the country and its people," he said.China supports the self-strengthening efforts of European nations, Wen said. Chinese Premier Wen Jiabao (R) attends a joint press conference with European Commission President Jose Manuel Barroso at the Great Hall of the People in Beijing, capital of China, April 29, 2010.He noted China has never interfered in the internal affairs of the European Union (EU).He expressed his belief in the EU as an independent pole in the international arena which plays a constructive role for world peace and development."No matter what changes take place in the world, China and the EU will work together to meet challenges and progress together," Wen said.
BEIJING, April 21 (Xinhua) -- Chinese President Hu Jintao on Wednesday paid a silent tribute in Beijing to the victims of the earthquake in northwest China.The other eight members of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee also joined Hu to mourn the victims.National flags flew at half-mast at government agencies in the Chinese capital on Wednesday and all public entertainment was suspended. Chinese national flag flies at half-mast to mourn for the victims of Yushu earthquake, in the Tian'anmen Square in Beijing, capital of China. April 21, 2010.At Tian'anmen Square in downtown Beijing, thousands of people watched the national flag hoisted to full height and then lowered to half-mast at about 5:33 a.m..The 7.1-magnitude quake that struck Yushu, northwest China's Qinghai Province, last week had left 2,064 dead and 175 people still missing as of Tuesday. The quake had also left 12,135 injured, of whom 1,434 were in serious condition
BEIJING, May 14 (Xinhua) -- China's Vice Premier Li Keqiang Friday called for the development of a recycling economy to improve resource utilization efficiency and protect the environment.Developing a recycling economy was a significant mission for China, which urgently needed to change its economic growth mode of "high consumption, high pollution and poor recycling," said Li in an inspection tour to a state recycling economy pilot base under ChinaChem Group.Li said developing a recycling economy would help the enterprises improve product structures, fuel technology innovation and improve competitiveness. China's Vice Premier Li Keqiang (C) speaks during a meeting as he makes an inspection tour to a state recycling economy pilot base under ChinaChem Group in Beijing, China, May 14, 2010. Li Friday called for the development of a recycling economy to improve resource utilization efficiency and protect the environment.He called for a combination of resource conservation, environment protection and economic efficiency to cultivate emerging "green" industries.Authorities should transform traditional industries by promoting a clean, efficient and safe production, said Li.Li also called for more investment in recycling economy development, and implementation of supporting government fiscal, pricing and financial policies.
来源:资阳报