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BEIJING, March 12 (Xinhua) -- China's central bank said Friday a stronger yuan offers no help for solving the Sino-U.S. trade imbalance problem, and China opposes politicizing yuan's appreciation.Su Ning, vice governor of the People's Bank of China, made the comments a day after U.S. President Barack Obama told the U.S. Export-Import Bank's annual conference that a more market-oriented exchange rate of yuan will make an essential contribution to global rebalancing efforts."We do not think a country should rely others to solve its own problems," Su, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, said on the sidelines of the top political advisory body's annual session.The U.S. Department of Commerce said on March 11 that the U.S. trade deficit with China increased to 18.3 billion U.S. dollars in January from 18.14 billion U.S. dollars in December. The increase renewed the U.S. call for a stronger yuan as it claimed the current exchange rate gives Chinese goods unfair price advantages.Su said although yuan has gained more than 20 percent since it depegged the U.S. dollars in June 2005, China's trade surplus tripled from 100 billion U.S. dollars in 2004 to nearly 300 billion U.S. dollars in 2008.In addition, he argued, a weaker U.S. dollar does not help cut the U.S. deficit. As the U.S. dollar depreciated by 3 percent annually in average between 2002 and 2008, its deficit soared from 500 billion U.S. dollars to 900 billion U.S. dollars, Su said.Tan Yaling, a financial researcher with Peking University, said as nations have different roles in international trade and differ in resources, what they produce, consume and want can be very different."It is unfair that the United States, on the one hand, consumes cheap Chinese goods, while on the other hand, it blames the low prices for causing their domestic job losses," she said.The Obama administration's continuous calls for a stronger yuan is actually aimed at diverting attentions from its domestic woes, experts said.To grapple with high unemployment rate and uncertain recovery prospects, Obama has to do something on job promotion to secure victory in the mid-term election in November this year, said Chen Zhiwu, a financial professor with Yale University.To curb soaring unemployment and boost growth, Obama has announced a special task force on a mission of doubling the U.S. exports in five years, as he said the U.S. can not "stand on the sidelines," as other countries are busy negotiating trade deals.Cheng Enfu, a deputy to the National People' s Congress (NPC), China' s top legislature, said the consistent pressure from the United States is simply because of its pursuit of national interests."Over-fast appreciation of yuan does no good to the global economic recovery which is still fragile and uncertain," he said.Zhu Yuchen, also an NPC deputy, said as China plays a leading role in global economic recovery, any drastic policy change will not only impair China's economy, but also the global recovery, which is not a responsible way.President Obama's remarks also came a month ahead of a semiannual Treasury Department report that could label China as a currency manipulator.Premier Wen Jiabao said in the government work report delivered to the NPC on March 5 that China will keep the yuan "basically stable" at an "appropriate and balanced" level.HEFTY SURPLUS, BUT SLIM PROFITSAlthough China has accumulated massive trade surplus over the past decades, that does not indicate the same profits, as more than half of China's exporters are foreign invested, lawmakers said.Figures released by the Ministry of Commerce showed 55.2 percent of China's foreign trade was completed by foreign-invested businesses last year. And 56 percent of the exports were done by foreign companies in China.Cheng Enfu said China only pockets paper-thin profits from the very end of the manufacturing chain, or processing and assembling work. However, the United States earn handsome profits from designing and distribution.According to a study by researchers of the University of California, of the 299 U.S. dollars retail value of a 30-gigabyte video iPod in the United States, 163 U.S. dollars is captured by American companies and workers, and 132 U.S. dollars go to parts makers in other Asian countries, while the final assembly, done in China, cost only about 4 U.S. dollars a unit."Even though Chinese workers contribute only about 1 percent of the value of the iPod, the export of a finished iPod to the United States directly contributes about 150 U.S. dollars to our bilateral trade deficit with the Chinese," Hal R. Varian, a professor of the University of California at Berkeley, wrote on the New York Times on June 28, 2007.Cheng Enfu noted it needs to upgrade exports product mix to fundamentally reverse China's disadvantages. That is, to export more profitable self-innovative products, rather than labor-intensive processing goods.
YINCHUAN, March 23 (Xinhua) -- Chinese President Hu Jintao has called for more efforts to promote social, economic development in the underdeveloped western areas of the country.Hu made the call during his three-day visit to northwestern Ningxia Hui Autonomous Region from Sunday to Tuesday.This year marks the tenth anniversary of China's campaign to develop the west.Hu said the past decade witnessed a good beginning of and laid a solid foundation for the "West Development" drive and the next decade would be a crucial period for pushing forward the campaign. Chinese President Hu Jintao (R) visits Shizuishan City, Ningxia Hui Autonomous Region. Hu Jintao called for more efforts to promote social, economic development in the underdeveloped western areas of the country during his three-day visit to northwestern Ningxia Hui Autonomous Region from March 21 to 23To develop the west would remain one of the priorities in the 12th five-year plan starting 2011, during which the central government would provide more favorable policies and greater funds to western areas, Hu said.He called for transforming the economic growth pattern, and improving people's livelihood, as he visited local factories, farms, renovated shanty-towns and new villages housing farmers that had migrated to from virtually uninhabitable areas.In his visit to a successful company which manufactures rare metal products, Hu said the central government attached strategic importance to developing the new material industry. He called on companies to innovate technology, produce new products and implement new management practices.

SANYA, Hainan, March 21 (Xinhua) -- A senior official with the United Nations World Tourism Organization (UNWTO) said Sunday China is expected to become the world's largest tourist destination by 2015."China, as we predict, is going to become the world's No. 1 tourist destination by the year 2015," said Taleb Rifai, secretary general of the UNWTO."China is almost there. It is now the world's fourth largest destination when it comes to incoming tourists, and the rates of growth are moving so quickly that we think this is a realistic target," Rifai said.France is currently the country receiving the most international tourists, at 80 million per year, followed by the United States and Spain, both at 60 million a year, while China has about 48 million, he said."China's tourism economy has moved incredibly in the last ten years. The number of incoming tourists rose from 8 million to 48 million. The potential of the growth is still big because of the size of China," Rifai said.Rifai said the global tourism industry is improving but challenges remain due to the weak economy."The tourism industry has to follow and is very much affected by the general economic situation, and for sure the general economic situation has started to turn around. But we cannot call it a full recovery at the moment," he said.
BEIJING, Feb. 28 (Xinhua) -- Some foreign diplomats and journalists based in Beijing Sunday were invited to watch Road of Rejuvenation, a music-and-dance epic highlighting China's twists and turns in the past 170 years.The gala at the National Center for the Performing Arts (NCPA) was presented by more than 1,000 performers, featuring China's modern and contemporary history with chorus, dances, and stage screens.Iwona Rogacka-Hu, an officer with the Embassy of the Republic of Poland, said every step of the country's progress was presented clearly in the epic gala and she was moved by the themes of the mother and motherland.Peter A. Fischer, a Swiss correspondent with Zurich Times (NZZ) Beijing Office, said he saw many battles and difficult times in China's modern history through the show."I hope these will never come again, and China will grow more prosperous and open further up," Fischer said.The gala was produced to mark the 60th anniversary of the founding of the People's Republic of China in October 2009. It debuted in Beijing on Sept. 20 last year.Zhang Jigang, director of the show, said so far 40 performances had been staged at the NCPA, and there are 40 more to go."The tickets for the upcoming shows have been sold out," said Wang Zhengming, vice president of the NCPA.Zhang said the gala had been filmed and would be available in cinemas soon.
SHANGHAI, Feb. 20 (Xinhua) -- Two Chinese educational institutions blamed for cyber attacks on Google and other firms said Saturday the allegations are unfounded.The New York Times reported Thursday the cyber attacks on Google and other American firms have been traced to Shanghai Jiaotong University (SJTU) and Lanxiang Vocational School (Lanxiang) in east China's Shandong Province, which the report alleged has ties to the Chinese military."We were shocked and indignant to hear these baseless allegations which may harm the university's reputation," said a SJTU spokesperson.The spokesperson said the allegation linking the attacks with SJTU students or teachers does not hold water."The report of the New York Times was based simply on an IP address. Given the highly developed network technology today, such a report is neither objective nor balanced," the spokesperson said.SJTU will fully cooperate with investigators if Google seeks judicial remedies, the spokesperson said.Li Zixiang, party chief at Lanxiang, another alleged source of the attacks, said, "Investigation in the staff found no trace that the attacks originated from our school."Lanxiang students are still on their winter vacation, Li added.He said Lanxiang has no relations with the military, adding that school authorities do not have military backing.He also dismissed the report's suggestion of involvement of a "specific computer science class" taught by a Ukrainian professor."There is no Ukrainian teacher in the school and we have never employed any foreign staff," Li confirmed."The report was unfounded. Please show the evidence," he said.Lanxiang, founded in 1984, has about 20,000 students learning vocational skills such as cooking, auto repair and hairdressing.The computer science class offers basic courses about Photoshop, 3D drawing and Word -- not software engineering."It was not until 2006 that our graduates began to join the army. So far, 38 students have been recruited by the military for their talent in auto repair, cooking and electric welding," said Zhou Hui, director of the school's general office, who stressed it is natural for citizens to join the army at a proper age.Google said on Jan. 12 it might pull out of the Chinese market, citing disagreement with government policies and unidentified attacks targeting Google's services in China.
来源:资阳报