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BEIJING, Dec. 2 (Xinhua) -- China cannot use its 3.2 trillion U.S. dollars in foreign exchange reserves to rescue other countries, a senior diplomat said on Friday."The argument that China should rescue Europe does not stand, as reserves are not managed that way," Vice Foreign Minister Fu Ying said at the Lanting forum, a gathering of Chinese officials, scholars and social groups held by the Ministry of Foreign Affairs to discuss international issues and foreign policy."China is not absent from international efforts to rescue Europe; it has been a positive and healthy participant," Fu said.Since the outbreak of the European financial crisis, China has dispatched more than 30 procurement delegations to Europe, helping to boost imports from the continent, Fu said.Fu added that there are many misunderstandings about the use of China's foreign reserves. "Foreign reserves are not domestic income or money that can be disposed of by the premier or finance minister," she said."Foreign reserves are akin to savings, and their liquidity should be ensured," Fu said."Foreign reserves are not revenue and cannot be relocated randomly. Under this circumstance, China should take the prospect of yields into consideration if it invests its foreign reserves," said Tian Dewen, an analyst at the Institute of European Studies at the Chinese Academy of Social Sciences.However, the outlook for the economic situation in the eurozone is currently uncertain, Tian said.Fu said China learned a lesson about the importance of foreign reserves during the Asian financial crisis of the late 1990s. ' "Reserves cannot be used domestically to alleviate poverty or taken abroad for development support," she said.She said that the way in which foreign reserves are managed should be in line with the principles of "safety, liquidity and proper profitability.""China's purchases of European bonds, International Monetary Fund bonds and U.S. bonds are also based on those principles," Fu said.Fu also said that China has no intention to gain profit by leveraging financial instruments."China will make efforts to overcome the crisis with Europe and the international community in the future," Fu said."As for the current turbulence in European markets, an authoritative voice is necessary in restoring market confidence. However, voices are diversified in Europe due to its political framework," said Chen Xin, an analyst at the Institute of European Studies at the Chinese Academy of Social Sciences.Fu also reviewed achievements made in trade and investment cooperation between the two sides."It is normal for Europe to strengthen its economic cooperation with China in the process of conquering its difficulties, although it is not proper to add negative political implications," Fu said.She urged Europe not to politicize China's foreign investments."Successful investment should be reciprocal. We hope our economic activities are not interpreted from a political prospective and are not imbued with political interests. We should follow market economy principles," Fu saidFu also took time to single out media reports about the crisis that she believes have been overtly political."Many European countries have shown their understanding and support for us, but there have also been some negative reports," Fu said."We should treat each other with a moderate and impartial mentality. That will make bilateral relations easier to handle," Fu said.She cited an investment bid by a Chinese company in Iceland that was turned down by the country's government.Zhongkun, a private Chinese real estate company founded in 1995, planned to buy 300 square km of land in Iceland to build a high-end resort with a total investment of 200 million U.S. dollars.However, Iceland's Interior Ministry rejected the bid, citing the size of the area of land involved and the fact that there is no precedent in Iceland for foreign countries to purchase large tracts of land.

SINGAPORE, Dec. 18 (Xinhua) -- Two Chinese Navy ships called at Singapore's Changi port on Sunday on their way back to China from an escort mission in the Gulf of Aden and the waters off Somali.The destroyer Wuhan and the frigate Yulin were part of the ninth flotilla dispatched by China in July to guard commercial ships in the troubled waters against pirates.They are stopping over in Singapore for three days to replenish fuel, water and other logistic supplies, officials said.The task force will also have exchanges with the Singapore side on anti-pirate efforts, and visit Singapore's Information Fusion Center, which is aimed to promote collaboration and information sharing in maritime security.The Chinese sailors were received at the port in Changi Naval Base on Sunday morning by Colonel Tan Kai Cheong, commander of the 3rd Flotilla, Singapore Navy; Chinese Ambassador to Singapore Wei Wei and other Chinese diplomats, as well as representatives of Chinese companies and the Chinese community in Singapore.Guan Jianguo, commander of the Chinese flotilla, said the task force left the port of Zhanjiang in Guangdong province on July 2. The two Chinese naval warships made port calls in Kuwait and Oman for friendly visits before stopping over at Singapore.The Chinese flotilla escorted 280 commercial vessels, including both Chinese and foreign ships, during the five months of the escort mission in the Gulf of Aden and the waters off Somali.Sixteen of the escorted vessels were Singapore-registered.The Chinese task force and the anti-pirate flotilla dispatched by Singapore also organized exchange visits, and the commanders of the two flotillas also met for exchanges.The Chinese Navy ships will leave Singapore on Tuesday for their home country.

BEIJING, Dec. 18 (Xinhua) -- China's economic diplomacy will face growing challenges in the form of trade and exchange rate disputes, as well as the task of protecting overseas investment interests, over the next few years, experts said on Sunday.Next year will be an election year for the Unite States and France, and there is an increasing possibility for the two countries to use the "China threat" as an excuse for not dealing with their own economic issues, which will put Chinese diplomacy under pressure, said Ding Yifan, deputy director of the Institute of World Development of the Development Research Center of the State Council at a seminar on Chinese diplomacy.During the first half of 2012, several countries will remain in a grave debt crisis and may even see their crises deepen, Ding said, adding that this situation may create friction between China, the United States and Europe.Additionally, protecting China's growing overseas investments will pose new challenges for the country's diplomacy, Ding said.Chen Fengying, director of the Institute of World Economic Studies under the China Institutes of Contemporary International Relations, agreed that the protection of China's overseas investment interests will be an important task for Chinese diplomacy.During the past three decades, China has invested in more than 170 countries and regions, with outbound direct foreign investment topping 170 billion U.S. dollars.In the past 30 years, China has been focused on "bringing in" foreign investment; it may do more to facilitate its "going out" in the future, Chen said.Chinese economic diplomacy will serve the country's economic construction and the protection of its overseas interests, national interests and security, Chen said, adding that China's position in the world is closely related to its economic diplomacy.Chen said China has made several achievements in international economic governance, reflected by China's growing influence in the international arena and the posts held by Chinese officials in important international organizations.

BEIJING, Jan. 21 (Xinhua) -- Chinese leaders on Saturday offered festive greetings to people across the nation as well as overseas Chinese around the world at a gathering to mark the Lunar New Year that falls on Jan. 23.President Hu Jintao, top legislator Wu Bangguo, Premier Wen Jiabao and top political advisor Jia Qinglin attended the gathering, organized by the Central Committee of the Communist Party of China (CPC) and the State Council at the Great Hall of the People in Beijing.Hosting the gathering, Hu, also General Secretary of the CPC Central Committee, extended regards to Chinese people at home and abroad and foreign friends on behalf of the CPC Central Committee and the State Council, the Cabinet.Premier Wen delivered a speech at the gathering, saying that the country has made a good start to the Twelfth Five-Year Plan (2011-2015) at a time of an austere and complicated international economic situation.Wen said the government would maintain stable prices and steady, rapid economic development, accelerate the transformation of development patterns and adjust the economic structure in a bid to enhance sustainable development, as well as place more importance on people's livelihoods, letting the people share the achievements of reform."We are going to face bigger challenges in the new year," Wen said. "We have the will, determination, courage and ability to overcome any difficulties. We have confidence in the motherland's successful and bright future."Wen said the country will resolutely take the socialist road with Chinese characteristics, and promote economic growth and social progress, as well as improving people's livelihoods, and democracy, rule of law, equality and justice."We need to keep a clear head and thoroughly apply the scientific outlook on development, so to advance the reform and openning up policy and the socialist modernization construction.Wen called for excellent achievements in a bid to put the country on a firm footing for the upcoming 18th National Congress of the Communist Party of China.Other leaders, including Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang, also attended the gathering.The Spring Festival, or the Chinese Lunar New Year, is the most important traditional festival for China.