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BEIJING, Sept. 7 (Xinhuanet) -- China will "vigorously" expand its imports of key products as the nation strives to cut its trade surplus amid growing protectionism against the world's largest exporter, a senior Chinese trade official said on Monday."We will especially encourage imports of products the nation is short of, especially advanced technology and key equipment," said Chong Quan, China's deputy international trade representative.Special attention will be paid to expanding imports from countries that China has a trade surplus with, he said at the China Import Forum organized by the Ministry of Commerce.Due to their domestic economic woes and political pressure, some developed countries, in particular the US, have accused China of piling up trade surpluses through policies such as an undervalued currency. This argument conveniently ignores other factors at play, such as their own export restrictions.Nonetheless, in the first six months of this year, US exports to China increased 35.7 percent year-on-year, 13 percentage points higher than its overall export growth, according to US figures.Despite the surge of its trade surplus in July, which stood at .7 billion, China will see the surplus drop dramatically for the year to about 0 billion, compared to 0 billion in 2009 and 0 billion in 2008, trade officials said. The country even registered a rare trade deficit of .2 billion in March.As a result of the shift in strategy, the ratio of China's current account (mainly trade of goods) balance to its gross domestic product has been dropping continually since 2007, said Zhang Yansheng, director of the Institute of Foreign Trade at the National Development and Reform Commission."China's processing trade (bringing in goods and exporting finished products), which is the bulk of its exports, could plummet in the coming five years," he said.

NEW YORK, Sept. 21 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Tuesday expressed hope that the four BRIC countries -- China, India, Russia and Brazil -- will further strengthen coordination and cooperation.Yang made the appeal as he chaired a meeting of BRIC foreign ministers in New York.Yang told his BRIC counterparts that the four countries have constantly enhanced their cooperation in a more defined direction and within an increasingly mature mechanism, thus increasing their influences in the international arena.He hoped that the four countries will further strengthen coordination, build a solid foundation for cooperation and broaden areas of cooperation so as to uphold the common interests of developing countries.The foreign ministers held discussions over issues including cooperation among emerging market countries, the reform of the international financial architecture and global economic governance as well as international development cooperation.The meeting was held on the sidelines of the UN high-level meeting on the Millennium Development Goals (MDGs), which began Monday.On Tuesday, the Chinese foreign minister also held a bilateral meeting with his Russian counterpart, Sergei Lavrov.Yang told Lavrov that frequent contacts at high-levels between China and Russia have fully demonstrated the high standard of Sino- Russian strategic partnership of cooperation.China hopes both sides will further enhance communication and coordination so as to elevate their cooperation in all areas to a new level, Yang said.Lavrov said that Russia is willing to work with China to deepen cooperation in all areas and strengthen coordination and cooperation on major international and regional issues so as to continue to move forward bilateral relations.

BEIJING, Sept. 21 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 113 basis points, or 0.17 percent, Tuesday to a new record high at 6.6997 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Tuesday's yuan central parity against U.S. dollar beat the previous record of 6.7110 per U.S. dollar on Monday and extended the Chinese currency's gains to eight consecutive trading days.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Tuesday's central parity, the Chinese currency has strengthened against the U.S. dollar by 1.87 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.According to Tuesday's central parity rates, the yuan's value strengthened against all the currencies within its basket with lower rates.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 8.7522 Tuesday, lower from 8.7595 Monday.The yuan's rate against 100 yen was 7.8204 Tuesday, compared with 7.8275 Monday.The Chinese currency soared 814 basis points against the British pound with the central parity rate being set at 10.42 from Monday's 10.5014.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.

BAOSHAN, Yunnan, Sept. 2 (Xinhua) -- The death toll from mudslides that hit a village in southwest China's Yunnan Province Wednesday has climbed to 12, and 36 are still missing, the rescue headquarters said Thursday.By 9:30 p.m. Thursday, rescuers had saved 23 people from the rubble of homes in Hedong Village of Longyang District in Baoshan City, headquarters officials said at the site.The accident happened at about 10:20 p.m. Wednesday, trapping 71 people from 21 families.An initial investigation blamed the tragedy on loose dirt and rocks sitting on a sleep slope which had been soaked in rainfall for about ten days.More than 1,000 people have participated in the rescue operation and more than 120 medical workers are treating the injured and disinfecting the site.Tents, quilts, clothes and plenty of first-aid materials have been sent to the site where rescuers are evacuating people to safe places.

BEIJING, Sept. 28 (Xinhua) -- Chinese farmers have begun to reap crops as autumn drew to a close, and the nation is expecting a good harvest this year, China's Ministry of Agriculture (MOA) said here Tuesday in a statement on its website.The forecast is based upon higher average yields and an estimate that China's planting area for autumn crops rose by 10 million Mu (about 667,000 hectares) from one year ago, said the ministry.According to figures from the MOA, a total of 386 million mu of crops had been harvested by Sept. 27, accounting for 33.3 percent of the total.In a break down of the harvest, 130 million mu of rice, or nearly 50 percent of the total rice planted, had been reaped, while 140 million mu of corn and 60.7 million mu of soybean were harvested, accounting for 28.5 percent and 46.5 percent of the total, respectively, said the MOA.The ministry also arranged for 29 million sets of farm equipment to help with the autumn harvest, it said.China's grain output reached 530.8 million tonnes in 2009, the sixth consecutive year of growth in grain yield.In the wake of a severe drought in China's southwestern regions earlier in the year, summer grain output this year stood at 123.1 million tons, down 0.3 percent from one year ago.

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