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WASHINGTON, Sept. 20 (Xinhua) -- U.S. President Barack Obama said Monday that China's rapid economic development is in the interest of U.S. economy."It's good for us that China has done well," Obama said at a town-hall-style meeting telecast live on CNBC before heading to Pennsylvania to raise money for a Democratic Senate candidate.His address is in line with U.S. Secretary of Treasury Timothy Geithner's testimony to the Congress last Thursday."We have very significant economic interests in our relationship with China," Geithner said, "a strong and growing China benefits the United States, just as a strong and growing United States is good for China."In responding to a question about China's currency issue, Obama said that China's currency is lower than the market says that it should be, but trade is in the benefit for both sides."I just want to make sure trade is good for American businesses and American workers," Obama said."We are going to continue to insist that on this issue, and on all trade issues between us and China, that it is a two-way street, " he said.Facing November elections shaped by voter anger at the sour economy, U.S. lawmakers are weighing bills that would slap sanctions on Chinese goods, amid accusations that China keeps its currency -- and thereby its exports -- artificially cheap.The Obama administration acknowledged that China's imports supported the global economy and contributed substantially to recovery around the world.With over 1.3 billion people and an economy continuing to grow at or near double-digit rates, China is the U.S.' fastest-growing major overseas market.China's record of bringing hundreds of millions out of poverty, building a rapidly growing middle class, and now its efforts to encourage growth led by domestic demand, ultimately mean more demand for American goods and services.In order to pull the economy out of recession, Obama launched National Export Initiative (NEI) in March and set the goal of doubling the U.S. export in five years and creating two million jobs in the country.The Obama administration is clear that the vast Chinese market is a crucial part to fulfill the goal."Increasing opportunities for U.S. firms and workers through expanded trade and investment with China will be an important part of the success of the President's National Export Initiative and our efforts to support job growth more broadly."According to the Treasury Department, China is a critical market for a broad range of American products, from agriculture, to manufacturing, to services.China was the largest market for U.S. soybeans last year, importing over 9 billion dollars.In the manufacturing sector, the United States has already exported nearly 3.5 billion dollars in aircraft to China this year alone, and U.S. exports of automobiles and parts to China have grown over 200 percent.The issues in China and U.S. economic relations and trade should be properly solved through consultations on an equal footing. Exerting pressure cannot solve the issue. Rather, it may lead to the contrary, China's Foreign Ministry said recently.

YUZHOU, Henan, Oct. 16 (Xinhua) -- Scores of rescuers on Saturday night slowly made their way through dust-filled underground tunnels to continue searching for 16 miners who were trapped following a coal mine gas leak in central China's Henan province.Twenty-one miners have been confirmed dead in the accident, local work safety authorities said, while 239 out of the 276 miners who were working underground escaped after the gas leak occurred at about 6 a.m. in a small coal mine in Yuzhou city."The thick dust in the shaft is hampering the rescue. We must clear the dust first. We have located the trapped miners already," said Du Bo, an engineer with the mine's parent company who participated in the rescue.He said more than 2,500 tonnes of coal dust were in the pit due to damage caused by the gas leak.The conditions of the missing miners remains unknown. Officials said the miners were located 50 to 80 meters down the shaft from the entrance to the pit."Fortunately, there was no gas explosion. Otherwise, the consequence would be disastrous," a rescuer surnamed Wang told reporters. He said most of the victims were believed to have suffocated.Officials said work crews are struggling to retrieve the remains of the victims from the mine.The mine is owned by Pingyu Coal & Electric Co. Ltd., a company jointly established by four investors, including Zhong Ping Energy Chemical Group and China Power Investment Corp. It was hit by a similar gas and coal leak in 2008. Twenty-three people died in that accident.Ironically, miners were working underground to improve accident prevention measures when the gas leak occurred on Saturday.Billboards reading "Safety is a fortune of the family; Safety is of heavenly importance to our miners" hung at the entrance of the mine.Guo Gengmao, governor of Henan, and Luo Lin, head of the State Administration of Work Safety, supervised the rescue efforts.Authorities are investigating the cause of the gas burst.The accident occurred as people around the globe watched in awe during the rescue of 33 Chilean miners trapped underground for more than two months. China's work safety officials and experts said there are lessons to learn from Chile's dramatic rescue."Mining accidents in China usually claim heavy loss of lives. The lack of modern emergency response systems is a key factor," said Liu Tiemin, a researcher with the China Academy of Safety Sciences and Technology.Gas leaks in China's coal mines left 341 people dead in the first half of this year.Of note, the fatality rates have actually decreased in recent months as the country's senior officials ordered the industry to strengthen safety measures.China closed 7,466 illegal mines in four years, from 2006 to 2009. Mine operators are required to obtain all operational permits and have safety systems installed.

BEIJING, Sept. 30 (Xinhua) -- China and the European Union (EU) are forging a reliable partnership as one's stability, growth and prosperity are in the interests of the other, said an EU envoy on Thursday.Serge Abou, EU Ambassador to China, made the remarks before Chinese Premier Wen Jiabao attends the eighth Asia-Europe Meeting (ASEM8) and the 13th China-EU summit from Oct. 4 to 6. The ASEM summit, under the theme "Quality of Life: Achieving Greater Well-being and More Dignity for all Citizens," will focus on global finance and economic governance, sustainable development, and social and cultural exchange between Asia and Europe.China, as the second largest economy in the world, plays an important role in the meetings, Abou said, adding that the growth of Chinese economy contributed much to the world, especially amid the financial crisis.Abou described the relationship between China and the EU as "maturing partnership," with trade as "the first taproot" of the ties.The 27-member EU is China's biggest trade partner while China is the EU's second-largest trade partner and most important source of imports. This year, China-EU trade has witnessed remarkable growth and bilateral trade volume exceeded 300 billion U.S. dollars for the first eight months, up 36.2 percent compared with the same period last year.However, Abou was not satisfied with the figures. Trade and investment are not big enough considering China's 1.3-billion population, said the ambassador. He looks forward to more cooperation between the two countries in agriculture among other sectors."We welcome Chinese rise and Chinese prosperity," said Abou, adding that the EU would like to be more "engaged" in China's growth.Besides, China and the EU are also cooperating in energy, climate change and higher education, said the envoy.There are 200,000 Chinese students in Europe and tourists to European countries are also increasing, he added."The Chinese language is the second foreign language studied in my country France in secondary schools, just after English," said the EU official, adding that, by contrast, it was very "exotic" to learn Chinese when he was young."That means we have a solid basis to deepen our relationship," he added.

BEIJING, Sept. 6 (Xinhua) -- Chinese top political advisor Jia Qinglin on Monday met with nearly 60 foreign political leaders and scholars on the eve of a forum to discuss global trends and common challenges.The forum will take place in Beijing on Tuesday and Wednesday and is organized by the National Committee of the Chinese People's Political Consultative Conference (CPPCC),the country's top advisory body.The forum's theme for its fourth conference is "new era, new challenges, new vision -- building a future for all.""It is significant for the 21st Century Forum to hold a conference on the global situation, challenges and visions," Jia, chairman of the CPPCC National Committee, said.More than 100 officials, scholars and business executives from home and abroad will attend the two-day conference of the 21st Century Forum.As the world has been undergoing deep changes, transformation and adjustment, it is imperative for all countries to be interdependent, reform the international financial system and build a justifiable and reasonable world order, Jia told the foreign attendees to the forum.Among the foreign attendees are some well-known dignitaries, including former Nigerian President Olusegun Obasanjo, former European Commission President Romano Prodi, former Australian Prime Minister John Howard, former Russian Prime Minister Evgeni Primakov, former German Chancellor Gerhard Schroeder and former Japanese Prime Minister Yasuo Fukuda.Jia briefed foreign leaders on China's economic and social development, stressing China remained the world's biggest developing country despite its economic boom."It will take China decades of unremitting efforts to accomplish modernization," Jia said, adding China would adhere to the path of socialism with Chinese characteristics.Jia said China would continue to pursue peaceful development and develop friendly cooperation with all countries in accordance with its independent foreign policy.Jia reaffirmed China's efforts to play its due part in dealing with global challenges and contributing to world peace and development.Nigerian President Olusegun Obasanjo called for all countries to pursue a path of cooperation and common prosperity.After the meeting, Jia also hosted a welcome banquet for forum attendees.The 21st Century Forum convened its first conference in 1996. The purpose of the forum is to serve as a platform for leaders, scholars and experts from China and other countries to explore global trends and crucial issues of common interest to mankind in the 21st century.