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BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading.     Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis.     "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday.     "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said.     Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis.     It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said.     According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year.     With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said.     Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities.     Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said.     "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said.     In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.

BEIJING, Nov. 19 (Xinhua) -- Chinese shares staged a broad-based rebound on Wednesday, making up the previous day's losses after an overnight rally on Wall Street.     The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent. The Shenzhen Component Index rose 6.14 percent to 6,679 points.     Combined turnover shrank to 120.81 billion yuan (17.26 billion U.S. dollars) from the previous day's 145 billion yuan.     Gains outnumbered losses by 865 to eight in Shanghai and 743 to two in Shenzhen. Almost all sectors rose, with more than 200 stocks up by the daily limit of 10 percent. An investor looks at the electronic board in a stock exchange in Shanghai, east China, Nov. 19, 2008. The benchmark Shanghai Composite Index finished at 2,017 points, a gain of 6.05 percent    The Shanghai index fell more than 6 percent on Tuesday over fears of a spreading global slowdown, exacerbated by profit-taking.     Shares rebounded sharply in the afternoon on Wednesday as investors bought up energy and bank stocks, which had fallen heavily on Tuesday.     Oil, telecom and banking sectors led the rise. Sinopec rose by 10 percent to 8.37 yuan. PetroChina was up 7.49 percent, closing at 11.91 yuan. China Citic Bank gained 6.51 percent to 4.42 yuan.     Telecom shares surged on reports of an imminent approval of 3G licenses. China United Telecommunications rose 10 percent to 6.03 yuan.     A Guangfa Securities note said the rebound showed investor confidence had risen after Tuesday's decline. The sharp rises of energy and banking stocks showed institutional investors were optimistic over market prospects. 

BEIJING, Oct. 15 (Xinhua) -- China's senior political advisors convened here on Wednesday to discuss the new Party decision on rural reform and advice on the issue.     During the four-day third meeting of the Standing Committee of Chinese People's Political Consultative Conference (CPPCC) National Committee, political advisors were expected to carefully review the decision made at the third Plenary Session of the 17th Communist Party of China (CPC) Central Committee that closed on Sunday, said Jia Qinglin, the CPPCC National Committee chairman who presided over the meeting.     The CPPCC had made great efforts to study the issues of agriculture, rural development and improving farmers' life, he said. "We hope political advisors can present their findings, put forward proposals and contribute to the rural reform and development." Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), addresses the opening session of the 3rd meeting of the standing committee of CPPCC's 11th national committee in Beijing, capital of China, on Oct. 15, 2008    Vice Premier Hui Liangyu was invited to give a presentation of the new CPC decision to the advisors at the meeting.     In the decision, the CPC summed up the experiences of the past three decades of rural reform, analyzed chances and challenges the country faced and worked out a guideline for the future, Hui said. Photo taken on Oct. 15, 2008 shows the opening session of the 3rd meeting of the standing committee of the Chinese People's Political Consultative Conference(CPPCC) 11th national committee in Beijing, capital of China, on Oct. 15, 2008.

WASHINGTON, Dec. 8 (Xinhua) -- The Pentagon said Monday that five detainees at U.S. Naval base in Guantanamo Bay, Cuba, want to confess to conspiracy charges for planning the 9/11 attacks.     Khalid Sheikh Mohammed, the "architect" of the attacks, and four co-conspirators asked a military judge if they could withdraw all pending motions and plead guilty, Pentagon spokesman Gail Crawford told reporters.     The judge accepted the request but ruled that "competency hearings" are first needed for two of the five, Mustafa al Hawsawi and Ramzi bin al Shibh, because "questions exist as to their competency to stand trial," he said.     Meanwhile, Denis McDonough, a senior adviser to President-elect Barack Obama, told media that no decisions have been made by Obama about what to do with the 255 inmates presently held at Guantanamo.     "There is no process in place to make that decision until Obama's national security and legal teams are assembled," he said.     Sources close to Obama team said the incoming administration is considering putting some of the inmates on trial in existing federal courts, setting up a special national security court to deal with cases involving sensitive intelligence, and releasing other inmates.

LONDON, Feb. 2 (Xinhua) -- Visiting Chinese Premier Wen Jiabao said here on Monday that China and European countries should strengthen cooperation to deal with global financial crisis.     Speaking at a joint news conference after talks with his British counterpart Gordon Brown, Wen said that during his week-long "trip of confidence" to five European countries, he met with European leaders for talks on issues of common concern, especially the global financial crisis, and achieved "fruitful" results. British Prime Minister Gordon Brown (L) and visiting Chinese Premier Wen Jiabao meet the press in London, Britain, Feb. 2, 2009. Europe and China agreed that dialog and cooperation had dominated their 30-year ties, and great achievements had been made, said Wen, adding that such relationship had brought benefits to both sides, and set an example of mutual benefits and win-win outcome.     Sino-European relationship enjoys a solid foundation and a bright future, Wen noted.     In the face of global challenges such as the financial crisis, China and Europe should make joint efforts to promote cooperation, and make their own contributions to the world's harmony and sustainable development, said the premier. British Prime Minister Gordon Brown (L) and visiting Chinese Premier Wen Jiabao meet the press in London, Britain, Feb. 2, 2009"This financial crisis is a global one. No single country can remain immune and address this in isolation. We are sitting in the same boat and we need to work together to overcome difficulties," said Wen.     The premier said that if China could maintain its economic growth, "it will be the biggest contribution to the whole world" in a time of global financial crisis.     China is willing to strengthen coordination and cooperation with the international community, to work together to achieve an early recovery for world economy, and to build a fair, just, comprehensive and orderly international financial system, said Wen.     Brown told reporters that Britain and China could work together and avoid a retreat to protectionism during the economic downturn.     "We know from previous dow