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BEIJING, Jan. 12 (Xinhua) -- U.S. Ambassador to China Jon Huntsman on Wednesday said Chinese President Hu Jintao's state visit to Washington later this month will be "exciting and historic.""State visit is the highest level of welcome that is accorded to a foreign head of state. Hu's state visit is a very exiting and historic time in U.S.-China relationship," Huntsman told a press briefing on Wednesday.Hu will pay a state visit to the United States from Jan.18 to 21 at the invitation of U.S. President Barack Obama."It is the first time that the two heads of state meet when they represent the two largest economies...Their influence is derived from the world, not form a region," Huntsman said.The ambassador said it was noteworthy that over the years Obama and Hu had met 7 times and developed a "friendly, cordial and confident" relationship.He hailed efforts on both sides to build a positive, cooperative and comprehensive U.S.-China relationship, citing the high-level meetings like Strategic and Economic Dialogue, Joint Commission on Commerce and Trade as well as some cabinet-level visits like Defense Secretary Robert Gates' just concluded trip to Beijing.In a relationship that is as mature, direct and candid as U.S.-China relationship, there will inevitably be some areas of disagreements, Huntsman said."Divergences are largely outweighed by areas of convergences," he said.Ambassador said the United States and China would increasingly find common ground."As both countries are on the world stage, they will see a similar level of responsibility in terms of problems and deal realistically with the issues that confront the world, ranging from Iran nuclear issues and Korean Peninsula tensions to economic rebalance and climate change," Huntsman said.

ISLAMABAD, Dec. 18 (Xinhua) -- China and Pakistan signed a number of trade deals worth about 10 billion U.S. dollars, visiting Chinese Premier Wen Jiabao said here Saturday.Addressing the China-Pakistan Business Cooperation Summit in Islamabad, Wen said the deals reflected the huge potential for expanding bilateral economic and trade cooperation.The two sides inked some 20 trade deals during Wen's visit covering projects in the sectors of new energy, agriculture, cotton yarn and non-ferrous metal imports.Chinese Premier Wen Jiabao speaks during the Pakistan-China Business Cooperation Summit in Islamabad, Pakistan, Dec. 18, 2010. A major deal is aimed at developing wind and solar power. Another one is on remote sensing satellite between the Pakistan Space and Upper Atmosphere Research Commission and the China Great Wall Industry Corporation."Currently, the existing difficulties in our trade cooperation are temporary problems, which we could completely overcome with joint efforts," Wen said.The Chinese premier, who arrived here Friday, urged a boost in the scale of bilateral trade and investment. The China-Pakistan trade volume only accounted for one-tenth of Pakistan's overall foreign trade, he said, voicing his hope that the two-way trade could top 10 billion dollars as soon as possible.With regard to trade imbalance, Wen said China understood the concern of Pakistan on the imbalance, and has taken measures to address the issue."China is ready to work closely with Pakistan to push forward the building of a bilateral free trade area in an all-round way, and gradually grant zero-tariff status to more Pakistani products," he said.He vowed to send a trade and investment promotion delegation to Pakistan for purchase purposes at an appropriate time, hold commodity fairs for South Asian countries, and offer favorable terms for Pakistani products.Calling trade cooperation a link for the China-Pakistan cooperation, Wen said the bilateral trade has witnessed remarkable growth and benefited both peoples.Bilateral trade volume increased to 6.8 billion dollars in 2009 from 1 billion dollars in 2000.Though affected by the global financial crisis and natural disasters, the two-way trade in the first 10 months of 2010 reached the total volume of 2009, an increase of 27 percent over the same period of last year, Wen said.

BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

BEIJING, Dec. 29 (Xinhua) - Offenders of China's new regulations on waste electronic equipment could face fines up to 500,000 yuan (75,450 U.S. dollar), after it becomes effective on Saturday.The regulations could be regarded as the country's latest effort to promote comprehensive utilization of resources and environmentally friendly economy, Wan Bentai, chief engineer of the Ministry of Environmental Protection, said Tuesday.The ministry has introduced a set of supplementary guidelines for the implementation, which, for example, specify rules and procedures regarding issues including recyclers' qualification and governmental subsidies to e-waste recycling initiatives, Wan said.Recyclers which engage in e-waste recycling business without certificates could face fines ranging from 50,000 yuan to 500,000 yuan, according to the regulation.Wan estimated that nearly 30 million units of televisions, refrigerators, washing machines, air conditioners and computers were discarded in China each year.Those e-wastes, sometimes simply burned or soaked in strong acid, had severely polluted the environment in many locations in the past, said Wan.He believed that the new regulation made "remarkable progress" in environmental protection by extending manufacturers' responsibility into the post-use recycling of their products.

BEIJING, Dec.1 (Xinhua) -- Chinese President Hu Jintao received credentials from the ambassadors of seven countries to Beijing Wednesday. Hu met with the new foreign envoys in a ceremony at the Great Hall of the People in Beijing. The envoys were:-- Guyanese Ambassador David Dabydeen who arrived on July 8;-- Danish Ambassador Friis Arne Petersen, who arrived on Aug. 22; -- Costa Rican Ambassador Marco Vinicio Ruiz who arrived on Aug. 28; -- Swedish Ambassador Lars Freden who arrived on Sept. 1;-- South African Ambassador Bheki Winston Joshua Langa who arrived on Sept. 7; -- Tunisian Ambassador Mohamed Adel Smaoui who arrived on Sept. 16; -- and Palestinian Ambassador Ahmad A. M. Ramadan who arrived on Oct. 12. Enditem

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