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WASHINGTON, April 24 (Xinhua) -- China's central bank chief on Friday called for the International Monetary Fund (IMF) to accelerate its process to shift its quota to emerging market and developing countries."The quota structure is the core issue in Fund governance. The severe underrepresentation of emerging market and developing countries in the IMF seriously affects the Fund's legitimacy and effectiveness, and must be promptly corrected," said Zhou Xiaochuan, governor of People's Bank of China at the IMF and its sister institution -- the World Bank's spring meeting in Washington.The Group of 20 (G20) Pittsburgh Summit in September had called for a shift of at least 5 percentage points, and protection of the voting rights of the poorest countries before January 2011.But so far the quota adjustment process is slow. The previous quota reform, which was already approved by the IMFC -- the IMF's steering committee -- in 2008, has not been completed until now.Zhou said that the IMF is a quota-based institution, and quotas should be its primary resource.He emphasized that quota adjustment and reform is not a zero- sum game. "A Fund with a more reasonable governance structure will be better able to protect global economic and financial stability which will benefit all member countries. We urge the Fund to accelerate its work, and complete quota reviews on schedule in accordance with the G20 Pittsburgh Summit and IMFC objectives," Zhou said.According to the IMF's latest World Economic Outlook report, growth speeds of developing countries are much faster than the advanced economies, meaning their weight in the global economy is increasing dramatically.However, quota of the developing countries in the IMF is underrepresented."We expect the review to leave no member's quota share severely misaligned," Zhou said.
BEIJING, May 6 (Xinhua) -- Malta President George Abela missed the spectacular opening ceremony of the World Expo in Shanghai because of a leg injury, but he felt something that he said he would remember forever during the special Chinese tour.In the morning of April 30, twelve hours before the opening ceremony of the World Expo, Abela's leg was hurt in an accident. The head of the Mediterranean state was rushed to the city's best Ruijin Hospital."I will not meet with President Hu Jintao on a wheelchair," said Malta President George Abela lying on a hospital bed in Shanghai, striving to stand up, but failed.Absent from the opening session held beside the Huangpu River that evening, Abela, who was supposed to be there, watched in his ward the live TV show of those magnificent dancing, singing and splendid fireworks."I'm not there, but I can feel as the Chinese do," Abela was quoted by a Chinese diplomat as saying.President Hu, upon his knowledge of the accident, immediately instructed senior officials of the Chinese Foreign Ministry to visit Abela in hospital.On May 1, Hu met with six foreign leaders who came to the Chinese economic hub for the first World Expo in a developing country. He repeatedly asked about Abela's situation during the short breaks.Finishing all the meetings, Hu rushed to Abela's ward, and the two presidents' hands held tight."I know that today you are very busy and your coming impressed me very much," Abela said, noting such a meeting indicated the friendship and mutual respect between China and Malta."I was sorry to hear you got hurt yesterday," Hu told Abela, asking his counterpart to be relieved and pledged the best medicare."You sent a letter of condolence to us after the earthquake in Yushu of Qinghai Province, and you came here for the Expo after such a long journey.Now I would like to express my sincere appreciation to you," Hu said.As the Malta delegation failed to find a charter plane to take home their president, Hu decided to send a special plane for the task."I will remember forever the friendship with Chinese, as well as President Hu and his wife," Abela told senior officials of the Chinese Foreign Ministry and the Shanghai government at the Hongqiao Airport before leaving.The plane took off at 8:55 a.m., May 3 and landed on 4 p.m. local time at the Malta International Airport, where Abela, accompanied by a Chinese medical group, was received by his colleagues and Chinese ambassador Zhang Keyuan."I, on behalf of all the Malta people, invite all the friendly Chinese people to visit my country," Abela, still on a hospital bed, told the medical group who were backing China.
BEIJING, April 28 (Xinhua) -- The severe drought in southwest China has broken after six falls of rain in the past month, Chen Zhenlin, spokesman with the China Meteorological Administration (CMA), said here Wednesday.The rain occurred from March 22 to April 26 and ranged from 50 to 100 millimeters.The drought had parched the southern areas of Yunnan Province, the northeast regions of Guizhou Province, and the eastern and southern parts of Guangxi Province, Chen said at a briefing.The drought was among the most severe in decades, having a serious impact on people's lives and economic development.More than 20 million people and 10 million farm animals were affected by water shortages at the drought's peak.The CMA dispatched 28 teams and expert groups to drought-hit areas to enhance drought-relief work and seed clouds after the drought began last autumn.
URUMQI, May 29 (Xinhua) -- China would spend 120 to 150 billion yuan (17.6 to 22 billion U.S. dollars) on transport infrastructure in its far-western Xinjiang Uygur Autonomous Region over the next five years, the regional government said Saturday.The money will be used to build new roads and renovate old ones to support Xinjiang's "leapfrog development" promised by the central government earlier this month, according to a statement issued after a conference of the Ministry of Transport and Xinjiang's regional government.The paved roads to be built or renovated will reach 75,000 to 80,000 kilometers in the region where there were just 15,000 kilometers of paved roads in place by the end of last year, said Song Airong, a regional Party official.Xinjiang's current 838 kilometers of highways will also be extended to 4,000 kilometers over the next five years, he said.The central government unveiled a policy package last Thursday to support the development of Xinjiang Uygur Autonomous Region, setting a goal that the region should undergo a spurt in development so that by 2015 its per capita gross domestic product could reach the national average.Under the package, fixed asset investment in Xinjiang in the next five years will be more than double the amount in the current five-year plan that ends this year.
BEIJING, April 28 (Xinhua) -- The severe drought in southwest China has broken after six falls of rain in the past month, Chen Zhenlin, spokesman with the China Meteorological Administration (CMA), said here Wednesday.The rain occurred from March 22 to April 26 and ranged from 50 to 100 millimeters.The drought had parched the southern areas of Yunnan Province, the northeast regions of Guizhou Province, and the eastern and southern parts of Guangxi Province, Chen said at a briefing.The drought was among the most severe in decades, having a serious impact on people's lives and economic development.More than 20 million people and 10 million farm animals were affected by water shortages at the drought's peak.The CMA dispatched 28 teams and expert groups to drought-hit areas to enhance drought-relief work and seed clouds after the drought began last autumn.