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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."

BEIJING, March 19 (Xinhua) -- Chinese Vice Minister of Commerce Zhong Shan will pay a three-day visit to the United States from March 24 to strengthen economic and trade cooperation, said a statement posted on the official website of the Ministry of Commerce (MOC) Friday.The visit was aimed at expanding bilateral trade and promoting the healthy and stable development of the Sino-U.S. economic and trade relations, the statement said.Zhong would also negotiate with the U.S. administration over Sino-U.S. trade issues in an effort to increase mutual understanding, and defuse trade frictions, the statement said."Sino-U.S. economic and trade relations are mutually beneficial," said He Ning, director general of the Department of American and Oceanian Affairs of the MOC."China believes any economic and trade issues, including the RMB (Chinese currency) exchange rate, can be resolved through dialogue."But we should avoid politicizing economic and trade issues," He told journalists Friday in Beijing.He said commodities trade figures only mirrored flows of the products, but it could not truly reveal the beneficiaries.Chinese Premier Wen Jiabao said earlier this month that half of China's exports came from the processing trade, in which imported components were assembled at factories in China and 60 percent were made by foreign-funded companies or joint ventures with foreign partners.MOC spokesman Yao Jian said Tuesday China welcomed more U.S. high-tech exports, and was willing to promote more balanced Sino-U.S. trade. En

BEIJING, March 6 (Xinhua) -- A 17 percent year-on-year increase in China's broad money supply, and a target of 7.5 trillion yuan (1.1 billion U.S. dollars) for this year, indicated a relatively easy monetary policy, said Su Ning, deputy governor of the People's Bank of China, the country's central bank.Speaking on the sidelines of the ongoing annual session of the top legislature, the National People's Congress (NPC), Su said the 17 percent increase in the nation's broad money supply was larger than the combined increase of targeted GDP and CPI growth, which suggested an "easy" monetary policy."If M2 (the broad measure of money supply) growth is 2 to 3 percentage points higher than the combined growth of GDP and CPI, the monetary policy could be seen as easy," said Su.Chinese Premier Wen Jiabao said Friday, in the government work report submitted to the NPC, that China targeted an approximate 3 percent rise in consumer prices and 8 percent GDP growth this year.Su further believed the 17 percent increase in the broad money supply would be able to support the ongoing economic recovery throughout the country.China's financial institutions lent a record 9.6 trillion yuan in new yuan-denominated loans last year, almost double that of the previous year, to spur the economy amid the global downturn, but it was accompanied by soaring property prices and rising expectations of possible inflation.Su said the 7.5 trillion yuan in new lending this year should speed up completion of projects under construction, rather than support new projects.

BEIJING, Jan. 19 (Xinhua) -- China on Tuesday objected Japan's claim on a tiny atoll in the Pacific Ocean, saying international laws saw no justification for Japan's latest move on the atoll, some 1,700 kilometers south of Tokyo.The Japanese government reportedly submitted a bill to the congress on Monday, which proposes the protection of the coastlines of remote islands, including the so-called Okinotori island.This was widely seen as Japan's latest step to change the Okinotori into an "island", which would imply Japan's rights to claim Okinotori's surrounding area as an exclusive economic zone.But China insisted that Okinotori is merely a rock rather than an island, which can be used to claim an EEZ around."The Okinotori atoll is only about 10 square meters above the sea at the flood-tide and is nothing but a rock according to the United Nations Convention on the Law of the Sea (UNCLS)," Chinese Foreign Ministry spokesman Ma Zhaoxu told a regular press briefing Tuesday in Beijing.Japan's move to claim rights over such a large marine area, centered on the Okinotori atoll, is against international laws and would gravely damage the interests of the international community as a whole, Ma said.According to Article 121 of the UNCLS, rocks that cannot sustain human habitation or an economic life of their own shall have no exclusive economic zone or continental shelf.Japan has been trying to make the atoll a de facto island by a spate of moves in years.Since 1987, Japan has spent some 300 million U.S. dollars in building concrete wall around the Okinotori atoll, and has completed a solar-powered lighthouse on the atoll.Besides, Japan has allocated part of its fiscal 2010 draft budget for infrastructure building on Okinotori atoll to keep it from submerging into the sea."Japan's such actions and claims are obviously untenable in legal terms and other countries have also raised their concerns," Ma said. "The construction of facilities, however, will not change its legal status."Some analysts say Japan tries to create an "artificial island" to meet the international laws because the Okinotori, which lies between Taiwan and Guam in a strategically important position, could win the country an EEZ and rich resources in the surrounding sea area.Japan could claim the EEZ of about 400,000 square kilometers and continental shelf of about 740,000 square kilometers around the Okinotori atoll as long as it proves to be an "island"."The activities Japan has conducted is obviously attempting to build a artificial island, which, however, can not enjoy the same status of a natural island that can claim an EEZ around it," said Zhou Zhonghai, an expert on international laws from the China University of Political Science and Law."Japan is trying to pass a bill at home to challenge the world," Zhou added."Japan's claim has harmed other countries' interests of navigation and marine survey in the sea waters around the Okinotori, and is contrary to the principle of fairness, " said Jin Yongming, a fellow researcher from the Shanghai Academy of Social Sciences.

BEIJING, Jan. 16 (Xinhua) -- Chinese Premier Wen Jiabao Saturday stressed food and heating supply as cold snap has driven up vegetable prices and strained coal and gas supplies in north China.     Wen urged local government to pay attention to the produce, transport and storage of vegetables when visiting a produce wholesale market in the suburbs of Beijing.     "Only when food supply is enough and the prices are stable, will people feel at ease," said Wen. Chinese Premier Wen Jiabao, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, talks with local residents at a supermarket during his inspection in Beijing, Jan. 16, 2010.    Accompanied by Beijing's Party chief Liu Qi, Wen also went to a heating plant in Fengtai District and inquired about emergency response heating plan in case of extremely cold weather.     He asked local officials to secure the power, gas and coal supply to Beijing and said that energy supply should follow the principle of civil use first and industrial use second.     Wen also visited several ordinary Beijing families, who just moved into new houses with government subsidy.     Beijing municipal government has rebuilt and repaired nearly 500,000-square-meter old houses for 23,000 households.     The municipal government planed to solve housing problems for about 280,000 low-income families in three years.

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