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BEIJING, Nov. 2 (Xinhua) -- China will reduce its rare earth export quotas next year, but not by a very large margin, Yao Jian, spokesman of China's Ministry of Commerce, said Tuesday."To protect the environment and natural resources, China will stick to the quota system to manage rare earth exports next year, and quotas will also decline," Yao told Xinhua.Though giving no clear extent of the decline, Yao's remarks echoed the comments of Wang Jian, a vice minister of commerce, made Monday at a press conference."I believe China will see no large rise or fall in rare earth exports next year," said Wang.Wang emphasized that China has no embargo on rare earth exports, even though it uses a quota-system as a method of management.Containing a class of 17 chemical elements, rare earths have been widely employed in manufacturing sophisticated products including flat-screen monitors, electric car batteries, wind turbines, missiles and aerospace alloys. However, mining the metals is very damaging to the environment.Chinese officials have said on many occasions that China will strictly protect its non-renewable resources to prevent environmental damages due to over-exploitation and reckless mining.China started the quota system on rare earth exports in 1998 and later banned it in processing trade. In 2006, China stopped granting new rare earth mining licenses and existing mines have since been operating according to government plans.In early September, the State Council, or China's Cabinet, unveiled regulations to encourage merger and acquisitions within the industry.However, China's restrictive policies were criticized by Japan, the United States and other European countries, claiming China's management violated World Trade Organization rules."China has no choice but to take such measures," Chen Deming, China's Commerce Minister, said in August. He pointed out that exports of rare earths should not threaten the country's environment or national security.In response to the increasing criticism of China's rare earth exports management, the spokesman for China's Ministry of Industry and Information Technology said last week that China "will not use rare earths as a bargaining chip"."It is the common strategy of some countries, such as the United States, to use global resources while conserving their own in their homeland," said Zhang Hanlin, director of China Institute for WTO Studies in China's University of International Business and Economics."Creating conflicts on resource issues for their self interests is a common practice," he said.China is the world's largest producer and exporter of rare earths. With about one-third of all proven rare earth reserves, China's exports account for more than 90 percent of the world total."This shows some countries are conserving rare earth resources," said Yao.Early media reports said China would reduce the export quotas by up to 30 percent in 2011. Yet, this was denied as "false" and "groundless" by the Ministry of Commerce.The ministry said the Chinese government will set the 2011 export quotas based upon the rare earths output, market demand and the needs for sustainable development.It also said China would continue to supply rare earths to the world. Meanwhile, it will also take measures to limit the exploitation, production and exports of rare earths to maintain sustainable development, which is in line with WTO principles."Some countries managed to meet the openness requirement of international trade policies when limiting its resources exports," said Feng Jun, a director of the Shanghai WTO Affairs Consultation Center."China should learn from the experiences and explore its own way of protecting its strategic resources," said Feng.

UNITED NATIONS, Sept. 21 (Xinhua) -- Chinese Premier Wen Jiabao arrived in New York Tuesday afternoon to attend a series of meetings of the United Nations.It is Wen's second participation in UN meetings at the UN headquarters since 2008. Chinese President Hu Jintao also attended UN conferences last year.During Wen's three-day stay here, he is expected to attend and address a UN high-level meeting on the Millennium Development Goals (MDGs), the general debate of the 65th session of the UN General Assembly, a summit of the UN Security Council member states and a high-level discussion panel on AIDS and the MDGs.He will also meet with world leaders, UN Secretary-General Ban Ki-moon, Sino-U.S. friendship groups, overseas Chinese and foreign media in New York.About 140 heads of state and government will attend the three-day MDGs high-level meeting at the UN headquarters, where they will make new commitments to achieving the MDGs before the 2015 deadline.The MDGs, forged at a UN summit in 2000, includes eight ambitious goals, such as reducing extreme poverty in the world by half, cutting infant and maternal mortality, achieving universal primary education and halting the spread of HIV/AIDS and other diseases which kill millions each year.In a joint interview with the UN-based Chinese media last week, UN chief Ban voiced his confidence in China to meet those goals on time and urged other world leaders to keep their promises on the MDGs.

BEIJING, Aug. 31 (Xinhua) -- China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.Ye Yanfei, deputy head of the Statistics Department of the China Banking Regulatory Commission (CBRC), said the CBRC will restrain speculative property investment and support the building of affordable housing while controlling risk.China's housing market and lending to the property sector are crucial to the national economy and people's livelihood, as well as to the stable and steady development of the nation's banking sector, Ye said at a seminar in Beijing.Ye's remarks come after the banking regulator said it would further "instruct and monitor" commercial banks' efforts to strengthen the management of lending to home-buyers.Ye's comments echo those of Zhang Ping, director of the National Development and Reform Commission, who said last Thursday in a report to China's top legislature the government will "further implement the measures meant to curb excessive gains in housing prices and resolutely restrain speculative property investment in the second half the year."Ye also said the CBRC has pushed lenders to test the impact of falling house prices, although the regulator said earlier that hypothetical scenarios examined in stress tests do not herald any change in policyHousing prices in major Chinese cities rose 10.3 percent year on year in July, slower than the 11.4 percent growth rate in June, according to official figures.On a monthly basis, housing prices in June fell 0.1 percent from May and July prices were unchanged from June.

BEIJING, Nov. 3 (Xinhua) -- The Consumer Price Index (CPI), the main gauge of inflation in China, is likely to rise 4.1 percent in October after accelerating to a 23-month high of 3.6 percent in September, the Bank of Communications forecast on Wednesday.The bank, China's fifth largest lender, said in a report that the index would see moderate dips in the coming two months amid decreasing demand due to the slowing economy.But oversupply of liquidity at home, surging food prices, rising labor costs, and pressures caused by imported inflation would mean very limited room for the index to drop, the report said.The report predicts China's CPI would rise 3.1 percent for the entire year of 2010, topping the government's target to keep the inflation rate under 3 percent.It also forecast food prices would rise further during the first half of 2011.Food prices, which account for one-third of weighting in calculating the CPI in China, climbed 8 percent in September, pushing the CPI to the highest level in nearly two years. Food prices had risen 7.5 percent in August, 6.8 percent in July, and 5.7 percent in June.

NEW YORK, Sept. 22 (Xinhua) -- China on Wednesday urged all parties to seize "new opportunities" to find a diplomatic solution to the Iranian nuclear issue.Chinese Foreign Minister Yang Jiechi made the remarks in a meeting on Iran with his counterparts from the United States, Russia, Britain, France and Germany in New York."At present, there are new opportunities in advancing the diplomatic solution to the Iranian nuclear issue," Yang said."All parties should use the positive elements in the current circumstances to further enhance diplomatic efforts so as to push the Iranian nuclear issue back to the track of dialogue."Yang said that China will continue to play a "constructive role " in the international community's effort to find "a comprehensive, lasting and fair" solution to the Iranian nuclear issue.A statement issued after the foreign ministers' meeting called for an "early negotiated solution" to the Iranian nuclear issue.The foreign ministers are "ready to engage with Iran," the statement said.The six-nation ministerial meeting on Iran was held on the sidelines of a UN high-level meeting on the Millennium Development Goals (MDGs).