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BEIJING, Jan. 18 (Xinhua) -- Foreign direct investment (FDI) into China hit a record 105.74 billion U.S. dollars last year, up 17.4 percent year on year, the Ministry of Commerce (MOC) announced Tuesday.In December alone, China attracted 14.03 billion U.S. dollars of FDI, up 15.6 percent year on year, making it the 17th consecutive month of FDI growth since August 2009.The rapid FDI growth could be attributed to robust development in the service sector and the country's central and western regions, said MOC spokesman Yao Jian.FDI in the service sector rose 28.6 percent last year and that in central and western regions climbed 27.6 percent year on year, Yao said.

BEIJING, Jan. 14 (Xinhua) -- China will increase the flexibility of the yuan exchange rate and further push forward the opening-up of its financial markets, a senior central bank official said Friday.China will continue the reform of the yuan exchange rate mechanism and keep the rate basically stable at a reasonable and balanced level, Li Dongrong, assistant governor of the People's Bank of China, said at a forum. The speech was posted on the central bank's website.The Chinese yuan strengthened to a record high against the U.S. dollar Friday, the central parity rate reaching 6.5896, the second straight day it has been set below 6.6 per dollar, according to the China Foreign Exchange Trading System.The currency has risen by more than 3 percent since the country's central bank announced in June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.Li also said the central bank will work to expand trials of cross-border yuan settlement, to facilitate trade and investment.The central bank will promote the policy of allowing exporters to park their foreign revenue overseas, Li said, adding that it will further develop the foreign reserves market and create tools to hedge exchange rate risk.Li's speech came after the central bank announced Thursday the nation's qualified businesses and banks may settle their overseas direct investment in yuan, a move that expands the Chinese currency's global reach and eases excess domestic liquidity concerns.Li also voiced concern about loose credit globally, saying such policies are adding to capital-inflow and currency-appreciation pressures, leading to asset bubbles in some emerging economies.China still faces many challenges, Li said. "Expectations for inflation are rising. Housing prices are still high in some cities. Pressure from continuous inflows of foreign capital is increasingly evident," he said.The central bank will soundly manage money supply and maintain reasonable growth in credit, he added.

BEIJING, Dec.22 (Xinhua) -- Chinese vice premier Li Keqiang on Wednesday called for a better environment for enterprises to boost innovation and transformation of economic development patterns.Li made the remarks while paying a visit to a national independent innovation demonstration zone in Beijing's Zhongguancun District, which is also known as "China's Silicon Valley".Li visited software firms, research institutes, and communication companies, including China's domestic search engine tycoon Baidu and electronic giant Lenovo."Innovation brings vitality, energy and also profits," he said during the visit.Chinese Vice Premier Li Keqiang (C, front) listens to the introduction of a staff member of the search engine giant Baidu as he visits the national innovation demonstration zone at Zhongguancun in Beijing, capital of China, Dec. 21, 2010. Li made an inspection tour to the zone on Tuesday.As a demonstration zone for independent innovation, Zhongguancun is seen as a powerhouse for Beijing's sustained development, which is important for industrial restructuring and upgrading, and promotion of ecological civilization, Li said."Zhongguancun is filled with energy, youthful spirit, and huge potential, well presenting the unlimited creativity of both China and mankind. With its unique edge, the region should be leading the way of economic restructuring," he said.Li also called for a better environment for enterprise development and more favorable policies to boost scientific creativity, attract the best brains, and achieve top-level results.

YINCHUAN, Nov. 18 (Xinhua) -- Millions of Chinese Muslims across the country celebrated the tradition of Corban on Tuesday and Wednesday.In northwest China's Ningxia Hui Autonomous Region, 76-year-old Liu Wenming attended a religious ceremony at the Nanguan Mosque in the regional capital, Yinchuan, Wednesday morning, along with some 10,000 Muslims."My son, daughter and grandchildren will come from different parts of Ningxia to have a family lunch with me. Then we will visit other relatives and friends," said Liu.In Qinghai Province, also in the northwest, many Muslims began to gather at the Dongguan Mosque in the provincial capital Xining before 8 a.m. Tuesday. By 9 a.m., roads outside the mosque were packed with pious Muslims. Muslims attend a celebration feast held in a street in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, to mark Corban Festival, also known as Eid al-adha, Nov. 17, 2010. Chinese muslims celebrate Eid al-Adha, which falls on the tenth day of the twelfth month on the Islamic calendar, to mark the end of the haj and commemorate Prophet Abraham's willingness to sacrifice his son Ismail on God's command.Ten ethnic groups in China, including Hui, Uygur, Dongxiang and Bao'an, celebrate the annual festival -- but they celebrate it on different days. Some celebrated it on Tuesday while others celebrated it Wednesday. The timing depends on each ethic group's tradition.The Corban Festival, also known as Id al-Gurban, is a major Islamic festival that is meant to demonstrate believers' faith and obedience to Allah. People slaughter livestock and divide the animal into three parts.One part is to be eaten by the family. Another part is for relatives and friends. The third part is for charity.Migrant workers from northwest China's Xinjiang Uygur Autonomous Region returned home this month in time for the festival.Eighty-seven migrant workers from Shule County returned home in early November to join their families in celebrating the joyous occasion.Additionally, the regional government organized a reception on Tuesday afternoon, during which Zhang Chunxian, secretary of the regional committee of the Communist Party of China, met representatives from all walks of life.At the end of his speech, Zhang greeted the Muslims while speaking in the Uygur language, which received warm applause.China has more than 20 million Muslims. They mainly live in Xinjiang, Ningxia, Gansu, Qinghai, Yunnan, Shaanxi, Inner Mongolia and Henan.

ADDIS ABABA, Dec. 24 (Xinhua) -- The Commissioner for Peace and Security of the African Union (AU) Ramtane Lamamra, and the Ambassador of the People's Republic of China in Ethiopia Gu Xiaojie on Friday signed an agreement on the provision of aid to the AU Mission in Somalia (AMISOM).The grant amounting to 30 million RMB, (over 4 million U.S. dollars), will be used to supply equipment and materials for AMISOM. The signing of this agreement comes in the wake of the adoption by the United Nations Security Council, on Dec. 22, of resolution 1964(2010), in which it, inter alia, requested the Secretary- General to continue to provide a logistical support package for AMISOM, for a maximum troop strength of 12,000, as called for by resolution 1863 (2009).In resolution 1964(2010), the Security Council also called on UN Member States and regional and international organizations to make direct bilateral donations in support of AMISOM.By generously providing aid to AMISOM, the People's Republic of China is responding to the call made by the United Nations Security Council and the earlier appeal by the AU Peace and Security Council (PSC) for AU partners to support the ongoing efforts in Somalia, AU said in a statement. Gu Xiaojie reiterated China's continued commitment to strengthen its cooperation with the AU in the area of peace and security and to support all endeavors in this regard. He lauded AU's efforts and resolve towards the promotion of peace, security and reconciliation in Somalia.Speaking on the occasion, Commissioner Lamamra stated said that "China has, over the years, been providing multifaceted assistance to the AU and African countries as they strive to address the many challenges facing the continent. Today's donation is a further testimony of China's commitment and its determination to contribute to the furtherance of peace and security in the continent".Furthermore, Commissioner Lamamra avails himself of this opportunity to renew the appeal to all AU partners to provide the requisite support to AMISOM as it enters a new phase of its deployment.