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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, Aug. 16 (Xinhua) -- Ye Ling, a college student in Nanjing, got a present delivered to her doorstep Monday morning, a watch for China's Valentine's Day sent by her boyfriend from faraway Gansu Province.Her boyfriend Liu Le, a medical student, sent the gift on his way to Zhouqu in the northwest Gansu which was hit by a catastrophic mudslide. He went there as a volunteer."I ordered the gift online when I was transferring in Lanzhou (capital city of Gansu)," Liu said.Qixi Festival, or Chinese Valentine's Day, falls on Aug. 16 this year according to the lunar calendar.The festival originated from a folk tale that a fairy called Zhi Nu married a mere mortal called Niu Lang and had two children. But the Goddess of Heaven was against their marriage and when they ascended to heaven as two stars, she separated them by the Milky Way.But, according to the story, magpies felt sorry for the lovers and so every year fly up to the heaven to form a bridge, so that the lovers can reunite for a single night.Moved by the story, Chinese began to celebrate love on the date of the couple's annual reunion since the Han Dynasty (202 B.C. to 220 A.D.). In 2006, Qixi was listed as an intangible cultural heritage by China's State Council.Now as many couples are separated by work or study, people have begun looking for their modern "magpie bridge" to unite them in virtual space, enabled by the Internet.Jin Jing, a magazine editor based in Beijing, 26, planted "a tree of love" in her virtual garden, a game application on the social networking site, Kaixin001.com."My husband is working in Shanghai, and I wanted to give him the tree as a Qixi gift. I miss him."Special Qixi gifts have been on Kaixin001 since Aug. 10, and users can plant "lover fruits" or "heart-shaped tree root" in their online gardens.Lu Hua, a graduate student in Beijing, sent his girlfriend, who is pursuing a doctorate degree in Hong Kong, a MSN text to wish her happy Qixi Monday morning.Lu said he and his girlfriend celebrated the day by watching movies and TV series online simultaneously, and then exchanged ideas online by chatting via video.On the micro-blog on sina.com.cn, Qixi has topped today's topic list. Tens of thousands of bloggers expressed their views of scenarios they believed as the most romantic.A blogger identified as Kaka0403 said, "I think talking with my husband through online video is the most romantic thing, because I can see his smile and hear his voice."

BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.

BEIJING, July 17 (Xinhua) -- Senior Chinese political advisor Wang Gang met here Saturday with Mario Sepi, president of the European Economic and Social Committee (EESC)Wang Gang, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, said China and the European Union enjoyed sound development momentum of bilateral relationship.Wang, also head of the China Economic and Social Council(CESC), hailed the cooperation between the CESC and the EESC was increasingly closer.Concerning the round table meeting mechanism between the two organizations, Wang said the mechanism had become an important platform for China and the EU to carry out cooperation.Wang Gang (R), president of the China Economic and Social Council and vice chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with European Economic and Social Committee Mario Sepi in Beijing, capital of China, July 17, 2010. The mechanism was established in accordance with the joint statement of the 9th China-EU summit issued in September 2006.The two officials agreed to take advantage of the mechanism to promote the development of China-EU relations.CESC is a national organization offering consulting services on economic and social researches.

BEIJING, July 19 (Xinhua) -- Chinese Vice President Xi Jinping on Monday pledged to step up exchanges and cooperation between the Communist Party of China (CPC) and other Asian political parties.Xi made the pledge in his meeting with delegates attending the Poverty Alleviation Conference of the International Conference of Asian Political Parties (ICAPP) held from July 16 - 18 in Kunming, capital city of southwest China's Yunnan Province.Xi also noted the CPC successfully hosted the third ICAPP meeting six years ago.Chinese Vice President Xi Jinping meets with the delegates of the Poverty Alleviation Conference of the International Conference of Asian Political Parties in Beijing, capital of China, July, 19, 2010."The Kunming Proposal on Poverty Alleviation adopted at the just-concluded conference will not only boost cooperation between Asian political parties on development issues but also facilitate regional stability, prosperity and harmony," Xi said.The CPC and Asian political parties share the same responsibilities to promote development in their countries and improve people's livelihoods, the vice president said."We would like to further strengthen exchange and cooperation with Asian political parties and contribute to regional development and friendly relations between people."Sri Lankan Prime Minister D.M. Jayaratne, a senior leader in that country's Freedom Party, extended thanks for China's efforts to ensure the success of the conference on behalf of all participants.Co-chairman of ICAPP Standing Committee Jose De Venecia said China has made great contributions to the world's poverty alleviation cause, and so holding a conference on poverty alleviation in China was appropriate.He said the Kunming Proposal adopted in the conference will be submitted to the UN Millennium Development Goals summit scheduled for September.Later on Monday, Chinese Vice Premier Li Keqiang met with a delegation from the Thai Democrat Party led by Thai Deputy Prime Minister Suthep Thaugsuban.More than 120 representatives from 57 political parties in 30 countries attended the conference. Some African political parties, the UN and the Asian Parliamentary Assembly sent observers to the meeting.

来源：资阳报