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BEIJING, Feb. 8 (Xinhua) -- As the U.S. President Barack Obama vowed to get "much tougher" with China on exchange rates and trade, economists from Beijing said China should not give in to increased U.S. pressure that stems from its domestic problems.Obama's talk of putting "constant pressure" on China to strengthen the yuan so to ensure the price of U.S. goods was not artificially inflated has drawn heated comments from economists in Beijing."His words are only aimed to appeal to domestic interest groups," said Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University.Given China's growing international clout and the lack of jobs in the United States, Obama will certainly try to make China change its currency policy as this is an easy way to weaken China's export industry, she said.It was also a relevant tactic given the President was losing ground in opinion polls and facing tough conditions leading up to the mid-term election later this year, she said.Although the U.S. economy recovered to 5.7 percent growth in the fourth quarter last year, a record high in six years, jobless rate surged to more than 10 percent.Fiscal deficit is set to hit 1.56 trillion U.S. dollars in 2010, or 10.6 percent of its GDP, a new record since the Second World War.In the State of the Union Address on Jan. 28, Obama made it clear he would focus on jobs in 2010 and pledged to double exports in five years which could create 2 million jobs in the States.Tan Yaling said Obama's export drive could not fix the job problem, while a stronger yuan would add costs for U.S. consumers.RESIST PRESSUREIt's an old trick for the U.S. to force its major trade partners to appreciate their currency to help itself in a time of crisis, said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission."China's reforms, including exchange rate reform, should be independent of other countries," he said.He noted China's currency policy should comply with the country's macroeconomic conditions and industry restructuring. As many exporters' sales were just starting to pick-up, a rising renminbi would hurt their fragile recovery.Many foreign experts also agreed that the appreciation of the renminbi would not remedy the global economic imbalance.A 20 percent rise in the yuan and other major Asian currencies would at best lead to a rise in U.S. exports worth 1 percent of gross domestic product, as the International Monetary Fund (IMF) estimates suggested, said Olivier Blanchard, Economic Counsellor and Director of the Research Department of IMF."I think it's very important not to bash China over the RMB. What China should do, and is actually doing, is to decrease its saving rate, thus increase domestic demand, and reorient production to satisfy this higher domestic demand," he said in an interview with Reuters on Jan. 29.The renminbi has gained around 21 percent since July 2005 when the government delinked the yuan from the U.S. dollar. However, China's trade surplus with its major trading partners did not fall accordingly."The exchange rate of renminbi is not the main reason for the Chinese-U.S. trade deficit," Foreign Ministry Spokesman Ma Zhaoxu said Thursday."We expect the United States to view bilateral trade issues rationally and to negotiate fairly. Accusation and pressure would not bring a solution," said Ma.

VLADIVOSTOK, Russia, March 21 (Xinhua) -- Visiting Chinese Vice President Xi Jinping Sunday encouraged Chinese and Russian youths to make joint efforts in helping push forward the friendly bilateral ties.Xi, during his visit to the Confucius Institute of Far Eastern National University here, called on youths of the two countries to realize the aim with their youthful passion and wisdom.At the institute, which was founded in 2006, Xi watched an exhibition showing its achievement, attended a Chinese calligraphy lesson taken by Russian students, and inaugurated a bronze statue of Confucius.Xi also paid a visit to the "Ocean" all Russia children's center, where hundreds of Chinese pupils and middle-school students, victims of a devastating major earthquake in 2008, had attended a rehabilitation program.The massive earthquake struck southwestern China's Sichuan, Shaanxi and Gansu provinces on May 12, 2008, leaving some 70,000 people dead and 18,000 others missing.Xi recalled that the Russian government and people provided timely assistance to victims of the quake and President Dmitry Medvedev later invited more than 1,500 Chinese pupils and middle-school students from the quake-hit areas to Russia for rehabilitation.The Chinese vice president conveyed the sincere greetings and best wishes of these Chinese children to their Russian peers in the center, and, on behalf of the Chinese government and people, expressed his heartfelt thanks to the staff of the center.Xi said Chinese and Russian youths are the builders and successors of the future undertaking of the Sino-Russia friendship.He said the "Year of Chinese Language" would open in Russia in several days, expressing his hope that Russian youths would actively take part in related activities, and learn Chinese language, history and culture.Xi arrived in Vladivostok Saturday for a five-day official visit to Russia.

BEIJING, Jan. 21 (Xinhua) -- The government will step up efforts to eliminate outdated production capacity, said a statement issued by the State Council on Wednesday.Eliminating outmoded production capacity was imperative to transform the economic growth pattern, boost economic growth quality and fight the global downturn, said the statement issued after a State Council executive meeting chaired by Premier Wen Jiabao.Eliminating outdated production capacity was also necessary to promote energy efficiency and emissions cuts and address global climate change, the statement said.China had made positive progress in eliminating outdated production capacity, but the proportion of outdated capacity was still too high in certain key fields, said the statement.The problems should be tackled through the law, economics, technology and necessary administrative methods.The State Council discussed specific targets to eliminate outdated capacity in fields such as electricity, coal, coke, ferroalloy, calcium carbide, iron and steel, non-ferrous metals, construction materials and light industry and textile industry.To realize the targets, efforts should be made to improve market admission requirements, use market mechanisms, strengthen law enforcement, promote stimulus mechanisms and step up supervision, according to the decision reached at the meeting.

BEIJING, Feb. 26 (Xinhua) -- The Singapore-flagged tanker Pramoni, hijacked off the Somali coast last month, was escorted by a Chinese vessel to the safe waters on Friday, said the Chinese Foreign Ministry."At the request of the Singaporian side, the Chinese 'Chaohu' navy ship successfully conducted the escort mission," said a statement issued by the Foreign Ministry Friday night."All crew onboard the Singapore-flagged chemical tanker are safe and sound and emotionally stable," the statement said, without specifying the route or length of the escort mission.The cargo ship, with five Chinese sailors among the 24 crew onboard, was hijacked by Somali pirates in the Gulf of Aden on Jan. 1."The Chinese escort mission provided the released vessel with necessary supplies and medical assistance," the statement said.Pramoni's captain thanked the captain and crew of the Chinese vessel helping with the escort.China sent its first escort mission to the Gulf of Aden off Somalia in early 2009. Its fourth mission is now part of a multinational coalition of warships patrolling the pirate-infested area.

BEIJING, Feb. 25 (Xinhua) -- Presidents of China and Zambia on Thursday pledged joint efforts to bringing bilateral relationship to a new high.The pledge came out of their hour-long summit talks in Beijing as China rolled out the red carpet for Rupiah Banda, who was on his first state visit to the country since becoming Zambian President in 2008.Banda was welcomed by Chinese President Hu Jintao at the Great Hall of the People in downtown Beijing.Chinese President Hu Jintao (R) holds a welcoming ceremony for visiting Zambian President Rupiah Banda in Beijing, China, Feb. 25, 2010. Banda arrived here Wednesday to kick off his first state visit to China, strengthening the ties of friendship"I highly appreciate your commitment to promoting practical cooperation between China and Zambia since you assumed presidency," Hu said at the start of the talks."I believe your visit will turn a new page in the bilateral friendship and bring the relationship to a new high," Hu said.Banda recalled "the historic relations that exist between our two countries that go back before our independence." China and Zambia forged diplomatic ties in October 1964.Banda highlighted "the sacrifices many young Chinese made in order to construct the first railway line connecting Tanzania and Zambia."The about-1,860-kilometer railway, one of the largest foreign-aid project undertaken by China, was financed and built by China in 1970s. More than 60 Chinese died in constructing the railway.

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