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BEIJING, March 5 (Xinhua) -- Chinese Premier Wen Jiabao on Friday reiterated determination to curb the excessive growth of home prices in major cities and satisfy people's basic need for housing.He made the pledge while delivering a government work report to the Third Session of the 11th National People's Congress(NPC), China's top legislature, which is the latest demonstration of the government's determination to tame the runaway home prices.Driven by record bank lending and favorable tax breaks, China saw a sharp residential property price hike nationwide in the past year, triggering heated public complaints and fears of possible assets bubble.China's home prices in 70 large- and medium-sized cities, a housing price trend barometer, climbed 9.5 percent in January 2010 from a year earlier, the fastest growth in 19 months. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010Wen promised an increased supply of low-cost housing and common residential houses, restraining of speculative purchase, tighter land use management and stricter control of bank credit.A total of 63.2 billion yuan (9.25 billion U.S.dollars) will be spent by the central government in low-income housing in 2010, an increase of 8.1 billion yuan, or 14.7 percent over last year, Wen said.The government will also build 3 million housing units for low-income families and renovate 2.8 million shanty units, he said.Wen's remarks indicate the government's regulation target in the real estate sector this year, which will emphasize on satisfying demand of mid- and low-income families while ensuring a healthy development of the market, said Gu Yunchang, vice president of China Real Estate Research Association."To curb the excessive growth of home prices is a must for the healthy development, or else the foaming market would bring destructive consequences to the industry," said Gu.China's central and local governments has begun to take moves to deflate the housing bubble since late last year, including reimposing a sales tax on homes sold within five years of their purchase and raising down payment requirement for families buying a second or more houses with bank loans.In another move to cool the property market, the People's Bank of China, the central bank, announced twice within a month to raise the deposit reserve requirement ratio earlier this year.During an online chat with the Chinese Internet users last week, Wen expressed his confidence in the government measures in response to complaints over soaring home prices."It is the government's responsibility to guide the property market. I am confident that the government will ensure the healthy development of the property market," he said.

CHICAGO, March 17 (Xinhua) -- A stronger RMB would not be a tonic for the U.S. economy or manufacturing and it would be a huge mistake to raise tariffs on imports from China to force a change in the yuan, says a U.S. trade expert on Tuesday.Daniel Griswold is director of the Center for Trade Policy Studies at the Cato Institute, a non-profit public policy research foundation headquartered in Washington, D.C. He is also the author of a new book, Mad about Trade: Why Main Street America Should Embrace Globalization.The trade expert told Xinhua during an exclusive interview, " China has been moving in the right direction since 2005 by allowing the currency to appreciate. Threats from the U.S. government actually make it more difficult for the Chinese government to resume appreciation because it would look as though Beijing was giving in to foreign pressure."Griswold pointed out that a stronger yuan would not be a tonic for the U.S. economy or manufacturing. "China would remain competitive in a broad range of manufactured products even if the yuan were 25 percent higher. The dollar depreciated sharply against the currencies of Canada and the Eruozone after 2002, yet our bilateral deficit with both those regions continued to grow," he added.New York Times' Nobel laureate economist, Paul Krugman, recommended in his latest column that the U.S. impose a 25 percent tariff on Chinese imports unless China appreciates its currency Renminbi. Griswold considers it a huge mistake to raise tariffs on imports from China to force a change in the yuan.Regarding President Barack Obama's new export push to double the U.S. export in the next five years, Griswold believes this goal will raise false expectations.He noted: "The goal will be difficult to realize. It hasn't been done since the 1970s, and that was driven in large part by inflation. It also depends on robust growth abroad, which is beyond the control of even this president. Faster export growth would be good for the U.S. economy, but it will not put much of a dent in high unemployment."When asked what the U.S. government should do to increase its export, the trade expert advised, "the single best policy to promote exports would be for the U.S. government to set a good example by resisting protectionism in our own market."He further explained, "U.S. companies are currently facing sanctions from Mexico, Brazil and other countries because we have failed to live up to our commitments in the WTO and the North American Free Trade Agreement. We are losing export opportunities abroad because Congress has failed to enact trade agreements with South Korea and Colombia, and the administration has failed to exercise leadership in WTO negotiations."In January the U.S. government data showed that the gap between what Americans sell abroad and what they import narrowed unexpectedly. While the usual crowd hailed it as an "improvement," Griswold believes that the numbers point to the slow growth of demand at home and abroad.He said: "We shouldn't read too much into the monthly trade numbers. The smaller-than-expected trade deficit in January could be a warning sign that the economic recovery remains sluggish. Exports were down, and imports down even further."When commenting on the U.S.-China trade relations, Griswold said, "U.S.-China relations remain fundamentally sound. Our commercial relationship is mutually beneficial and among the most important in the world."He further remarked, "American families benefit from affordable consumer products from China, while U.S. companies benefit from exports to China. And all Americans benefit from lower interest rates from Chinese investment in U.S. Treasury bonds." He noted that "the confrontational attitude of the Obama administration is driven almost entirely by domestic politics."Griswold's new book, Mad about Trade: Why Main Street America Should Embrace Globalization, is a spirited defense of free trade which tells the underreported story of how a more global U.S. economy has created better jobs and higher living standards for American workers.Since joining Cato in 1997, Mr. Griswold has authored major studies on globalization, trade, and immigration. He's written articles for major newspapers, appeared on CNBC, C-SPAN, CNN, PBS, and Fox News, and testified before House and Senate committees.

LHASA, Feb. 14 (Xinhua) -- Tens of thousands of Tibetans, dressed in traditional costumes, made pilgrimages to temples to pray for a peaceful and prosperous new year on Sunday, the first day of their traditional New Year.The Year of the Iron Tiger in the Tibetan calendar began on Feb. 14 this year, exactly the same date as the Spring Festival, or Lunar New Year. The coincidence has happened 18 times since 1950, according to experts of astrology and Tibetan calendar calculations.Two girls of the Tibetan ethnic group attend a celebration for the lunar New Year of the Tiger according to the Tibetan calendar, in Lhasa, capital of southwest China's Tibet Autonomous Region, Feb. 14, 2010.Tibetan pilgrims thronged to temples in Lhasa, including Jokhang Temple, a spiritual center of Tibetan Buddhism, from the new year eve to late new year's day.The number of pilgrims to Jokhang Temple alone amounted to more than 100,000, said Lama Dawa of the temple. With a history of more than 1,300 years, it was put on the World Cultural Heritage List in 2000.Pilgrimage is the most important activity for Tibetan buddhism believers on the Tibetan New Year's Day.Dancers perform at the Longwangtan Park for the lunar New Year of the Tiger according to the Tibetan calendar, in Lhasa, capital of southwest China's Tibet Autonomous Region, Feb. 14, 2010. Dancho, a pilgrim from Xigaze, said, "I came here at 5 a.m. to pray for my parents and relatives and wish them a good new year.""I want to pray for my parents and thank them for raising me up," said Kanmo Tsering, who came here with seven friends from Tibet's neighboring province of Gansu.Like people of other ethnic groups in China, the Tibetans mark the holiday with fireworks, feasts and red couplets with rhymed phrases. They also patrol communities with torches to scare away devils and pray for good luck, while those in farming areas attend horse races and tug-of-wars.The Tibetans enjoy a 10-day holiday for the new year, from Feb. 13 to 22.The New Year's Day also coincides with the Valentine's Day. Many young Tibetans bought jewelry and flowers for their lovers or went to see films with them on the romantic day."The New Year's Day and the Valentine's Day fall on the same day this year. I need not only buy goods for the new year, but buy a gift for my girlfriend," said Cering.Jigme, 18, bought roses for his girlfriend. Nyima, 32, and his wife Zhoigar, however, watched films as they spent each Valentine's Day in the cinema.

BERN, Switzerland, Jan. 26 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang met Swiss President Doris Leuthard here on Tuesday and both sides voiced their opposition against trade protectionism amid the ongoing global financial crisis.Li, who arrived in Switzerland on Monday for a four-day visit, said the creation of a free trade area between the two countries is under discussion and serves as a concrete action for both sides to combat trade protectionism."Both sides should push the feasibility study on a free trade area forward, and be well prepared to start negotiations in 2010," Li said.Chinese Vice Premier Li Keqiang(4th L) attends the joint press conference with President of the Swiss Confederation Doris Leuthard(4th R) in Bern, capital of Switzerland, on Jan. 26, 2010. Li Keqiang arrived in Zurich on Monday, kicking off his formal visit to SwitzerlandThe creation of the free trade area is of great significance to bilateral ties and will be conducive to further promotion of bilateral trade and investment cooperation, the Chinese leader said.He noted that the year 2010 marks the 60th anniversary of the establishment of diplomatic ties between the two countries, saying Switzerland was one of the earliest West European countries that recognized the People's Republic of China.Chinese Vice Premier Li Keqiang(R) shakes hands with President of the Swiss Confederation Doris Leuthard before their meeting in Bern, capital of Switzerland, on Jan. 26, 2010. Bilateral ties have been developing in an all-round way since the two sides established diplomatic relations 60 years ago, Li said.He said China attaches great importance to its ties with Switzerland and is ready to join hands with the European country to seek a long-term, healthy and stable development of bilateral ties."We should stick to the principle of sincerity, mutual trust and friendly consultation, and seek common ground while reserving differences, in order to cement the political basis of bilateral ties," Li said.For her part, Leuthard said Switzerland opposes any form of trade protectionism and expects more Chinese companies to invest in the country, as well as more cooperation between the two countries in such fields as technology and finance.Switzerland treats the Switzerland-China ties from a long-term perspective and highly values its cooperation with China, she said.She hoped that both sides could step up efforts on the feasibility study on a free trade area so as to draw a good result to open a new chapter of bilateral economic and trade ties.Leuthard said she will visit China this year and attend the 2010 Shanghai World Expo.The Swiss leader also reaffirmed that her country will firmly stick to the one-China policy.During his stay, Li will also address the annual meeting of the World Economic Forum (WEF) in Davos on Thursday and hold talks with WEF President Klaus Shwab. 

WASHINGTON, March 18 (Xinhua) -- The efforts by U.S. legislators to pressure China to reform its currency is to make China a scapegoat of the U.S. domestic politics, and may actually hurt the U.S. economy, according to articles published by U.S. well known media in recent two days.The Wall Street Journal said Thursday that U.S. lawmakers "want to make the yuan a scapegoat and risk a trade war with China," referring to the U.S. Senators' bill proposed Tuesday to call for China to appreciate its currency yuan.Under the pressure of the election year and high unemployment, U.S. Senator Chuck Schumer and four other senators unveiled a legislation to threaten China for punitive duties on goods from China if it does not let yuan appreciate against the U.S. dollar.The China-made clothes are sold at a Marshalls store in New York, the United States, March 18, 2010. The Americans may find that the appreciation of China's RMB will increase their living cost, as many goods they have been consuming are made in China"China is right to resist these calls, not least because a large revaluation could damage China's growth," the Wall Street Journal said in its Review and Outlook column. "China has helped to lead the global economy out of this recession, and the world needs that to continue."