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PARIS, June 22 (Xinhua) -- The Paris-based Organization of Economic Cooperation and Development (OECD) on Tuesday welcomed China's announcement of increasing the exchange rate flexibility of its currency yuan.The move was helpful not only to China's sustainable growth but also the world economy, OECD Secretary-General Angel Gurria said."A combination of sustained fiscal expansion, continued structural reform and exchange rate flexibility, should provide a strong contribution from China to the achievement of a strong, sustained, and balanced growth of the world economy," Gurria said in a statement.Richard Herd, an economist heading the OECD's China and Asia Unit, said it was impossible to achieve yuan appreciation over one night."The policy is not a political gesture; the policy is a sound economics-based effort," Herd said in an interview with Xinhua, rebutting reports interpreting the statement as just lip service.China's central bank announced over the weekend it would push forward reform of the yuan exchange rate and ruled out a one-off revaluation.

OTTAWA, June 23 (Xinhua) -- Chinese President Hu Jintao flew into Ottawa, capital of Canada, Wednesday for a state visit, and later he will travel to Toronto for a summit of the Group of Twenty (G20), which aims to secure the global economic recovery and address economic challenges and risks.In a statement released upon his arrival at the airport, Hu said that China is ready to work with Canada to further expand exchanges and cooperation in various fields, push forward the China-Canada strategic partnership and bring even more benefits to the people of the two countries and around the world.Hu said that during his visit, he will have extensive meetings and in-depth discussions with Canadian leaders and people from all sectors of Canadian society to explore with them effective ways to advance China-Canada strategic cooperation.Under the current international situation, Hu said, China and Canada share broad common interests and vast potential for cooperation in many areas, ranging from promoting economic growth in both countries and the world to resolving regional hotspot issues and meeting various global challenges."China always values China-Canada relations," Hu stressed, adding that bilateral exchanges and cooperation have made positive progress in such fields as economy, trade, energy, science, technology, education, culture, health, environmental protection, justice and law enforcement.

HAVANA, July 31 (Xinhua) -- Visiting Chinese Foreign Minister Yang Jiechi held talks with his Cuban counterpart Bruno Rodriguez here Saturday on the development of relations between their two countries.Yang called Cuba a very influential country in Latin America and the Caribbean and said the promotion of traditional friendship ties between China and Cuba meets the fundamental interests of the two countries.In addition, Yang said, promotion of the countries' traditional friendly ties also would help safeguard and strengthen global and regional peace and common development.Visiting Chinese Foreign Minister Yang Jiechi (L) shakes hands with his Cuban counterpart Bruno Rodriguez during their meeting on the development of relations between their two countries in Havana of Cuba July 31, 2010.Rodriguez said Cuba attaches great importance to strengthening its ties with China and is willing to advance its relationship with the Asian nation.The two ministers agreed to bring their countries' bilateral ties to a new level at the 50th anniversary of the establishment of diplomatic relations between China and Cuba.They also agreed to maintain the momentum of exchanges between the leaders and senior officials of the two countries and expand exchanges at the inter-party, inter-governmental and inter-parliamentary levels.The foreign ministers also agreed to boost bilateral trade and investment cooperation, advance work on key cooperation projects, and encourage exchanges between their universities, research institutions and non-governmental organizations.Rodriguez and Yang also agreed that China and Cuba should boost cooperation in international affairs to defend their interests and the common interests of developing nations.The leaders also witnessed the signing of an economic and technological cooperation agreement between the two governments.In addition, Yang paid tribute to Jose Julian Marti Perez at a monument honoring the Cuban poet and hero.

BEIJING, June 18 (Xinhua) -- China has become the world's third largest stock market as total market value of the Shanghai and Shenzhen markets hit 20.96 trillion yuan (3.07 trillion U.S. dollars) as of the end of May, the country's securities regulator said Friday.The total market value so far was up 393.76 percent compared to the 2003 level, the China Securities Regulatory Commission said.

BEIJING, Aug. 24 (Xinhua) -- China and South Africa announced a "comprehensive strategic partnership" on Tuesday during South African President Jacob Zuma's first state visit to China.Chinese President Hu Jintao and Zuma signed the Beijing Declaration after their one-hour talk in the Great Hall of the People Tuesday afternoon, during which the two presidents praised the growth of bilateral ties and agreed to lift relations to new heights."In this new spirit of China-South Africa relations, we will work together to advance the bilateral comprehensive strategic partnership," Hu told Zuma.Hu made specific proposals that the two countries maintain close contacts between leaders, utilize cooperative mechanism to further implement bilateral cooperation documents and strengthen exchanges between ruling parties and legislatures.In the economic area, Hu hoped both sides would promote trade and investment growth, energy cooperation and optimize financial services.China and South Africa need to work together in culture, education, media, health and tourism, Hu said, bolstering more academic and research cooperation.On the multilateral front, the countries need to improve consultation and coordination to further South-to-South cooperation and tackle global challenges.