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NEW YORK, June 10 (Xinhua) -- The U.S. House of Representatives has passed a bill to recognise Nanjing City of China as a "Model for International Cooperation" in order to award the city's active involvement in cooperation with the United States in education, innovation and entrepreneurship, and this was the first Chinese city to win such an award, Li Jiansheng, executive chairman of the U.S.-China Partnership Committee, told Xinhua on Thursday.The House passed the bill, tabled by Representative John Tierney of Massachusetts, on Tuesday night, Li said, adding that this will pave the way for further cooperation between China and the United States in education, innovation and entrepreneurship, which are very conducive to build a stronger China in the future."I rise today to speak about a model for international cooperation that is said to hold promise and future opportunities for the United States," Tierney said when he was taking the floor at the House. "The City of Nanjing is working to improve the quality of life of its residents with a global initiative that has potential to create a great opportunity for some in the United States."For over a decade, Nanjing "has reached beyond the borders of the People's Republic of China to create new strategies in education, innovation and entrepreneurship, increasing the level of understanding between our two nations and stimulating U.S.- China idea exchange," he said."It is expected that this international cooperative initiative will inure to the benefit of the residents of Nanjing as well to the residents of the United States, including businesses, residents and educational institutions in the Commonwealth of Massachusetts," he said.Nanjing, capital of Jiangsu Province in East China, has forged close ties of cooperation and partnership with Boston and Massachusetts in 2008. The city government has hammered out a series of programs to lure top talents from overseas."This is the first time for the U.S. Congress to recognize a model for a Chinese City for the partnership in entrepreneurship innovation, technology and education," Gene Hartigan, co-chairman of the U.S.-China Partnership Committee, told Xinhua on Thursday."This will get great attention from leaders in Washington D.C. and become the model for cooperation in the future between the U.S. and China in partnership in these areas," he said. "Currently the US and Chinese government have a platform called Strategic and Economic Dialogue. This statement approved by congress will create a new dialogue in innovation and entrepreneurship between the US and China."

BEIJING, Aug.6 (Xinhua)-- China's Ministry of Finance announced Friday it will float a batch of 273-day book-entry treasury bonds worth 10 billion yuan (1.48 billion U.S. dollars) next week.A statement on the ministry's website said the bonds will be sold at 98.62 yuan per bill, with an annual yield of 1.88 percent.The bill will be sold to the public from Aug. 9 to 11, and become tradable in the exchange markets since Aug. 13, according to the statement.The interest is to be calculated on August 9.This is the 10th batch of its kind launched by the ministry this year.

BEIJING, June 9 (Xinhua) -- Chinese Vice Premier Zhang Dejiang left Beijing on Wednesday for an official visit to Pakistan, Sri Lanka, Greece and Austria from June 9 to 21.Zhang is visiting the four nations at the invitation of Pakistani Prime Minister Yousuf Raza Gilani, Prime Minister of Sri Lanka D.M. Jayaratne, Greek Deputy Prime Minister Theodores Pangalos and Austrian Vice Chancellor Josef Proll, according to the Chinese Foreign Ministry.

BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.

BEIJING, July 6 (Xinhua) -- Pakistani President Asif Ali Zardari arrived in Beijing Tuesday evening, starting a five-day working visit to China.During Zardari's stay here, Chinese President Hu Jintao will hold talks with him. Premier Wen Jiabao and top political advisor Jia Qinglin will also meet with him.The leaders will exchange views on enhancing bilateral friendship and promoting reciprocal cooperation, and discuss international and regional issues of common concern, according to the Chinese Foreign Ministry.Zardari will leave Beijing for Shanghai later this week, and visit the Pakistani National Pavilion at the Shanghai World Expo.This is Zardari's fifth visit to China since he became president of Pakistan.

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