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WASHINGTON, Oct. 10 (Xinhua) -- China would continue reform of the formation mechanism of its currency exchange rate to improve its flexibility, but will do so in a gradual way, Zhou Xiaochuan, Governor of the People's Bank of China, China's central bank, said here on Sunday.Westerners prefer Western medication method that is quick but drastic, while Chinese people prefer traditional Chinese medication that is slower and giving time for different herbs to take effect. A steep rise of Chinese currency yuan would cause harms, Zhou told a group of bankers and reporters during a luncheon speech at the 2010 annual membership meeting of the Institute of International Finance (IIF).Governor of the People's Bank of China (PBOC) Zhou Xiaochuan hosts a press briefing during the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., capital of the United States, Oct. 8, 2010. To manage Chinese currency issue is a "complicated art," as you have to take into consideration domestic inflation, unemployment rate, gross domestic product (GDP) growth, balance of payments and other factors, he added.IIF, which represents over 420 world leading financial institutions headquartered in more than 70 countries, host its annual membership meeting in Washington D.C. between Oct. 8 and 10, when the International Monetary Fund and World Bank host their annual meetings in the same time.

ROME, Sept. 5 (Xinhua) -- China and Italy are working on a plan to expand their bilateral economic cooperation as the 40th anniversary of the establishment of the China-Italy diplomatic ties is just round the corner, said Chinese Ambassador to Italy Ding Wei on Saturday.The Chinese government is happy to see an enhanced and deepened economic ties between the two countries, said Ding while meeting with Adriano Luci, chairman of the industry association in Italy's northeastern city of Udine.He said Udine enjoyed a well-developed industrial capacity and saw ever-closer ties among Chinese and Italian firms.Ding hoped the association could encourage its member companies to champion the cooperation between Chinese enterprises and their Italian counterparts so as to materialize common development.Luci briefed Ding on Udine's industrial development, its companies' investment in China as well as their participation in the on-going Shanghai World Expo.He said he is willing to see the Italian and Chinese companies having more exchanges and further expanded areas of cooperation.According to Invitalia, the Italian official agency for promoting overseas investment and enterprise development, investment from Chinese companies in Italy has surged since 2000 and mainly goes to three main sectors, namely the automotive industry, logistics and machinery.Bilateral trade volume between China and Italy in the first half of 2010 registered a 36.3 percent rise compared to that of the same period last year, reaching some 20 million U.S. dollars.

TOKYO, Oct. 1 (Xinhua) -- Japanese Prime Minister Naoto Kan highlighted Friday the importance of relations between Japan and China, saying it was essential to deepen the mutually beneficial relations.While Kan was explaining his concerns regarding China at the opening session of the Japanese Diet."As neighboring countries separated by a thin strip of water, Japan and China are of great importance to each other. It is acknowledged that relations between the two countries are of critical importance to the Asia-Pacific region and, I might say, the entire world," he said.He urged both countries to proceed calmly with current issues, including the recent maritime collisions in the East China Sea that sparked a diplomatic spat, saying that cooperation was indispensable."In terms of the relationship between Japan and China as a whole, it is essential we work together to deepen our mutually beneficial relationship based on common strategic interests from a broad perspective, including peace and prosperity in the Asia-Pacific region and increasing cooperation in the economic field," Kan said.Seperately, Japanese Foreign Minister Seiji Maehara said Friday Japan was open to discussions with China in order to prevent further maritime incidents as strained bilateral ties between Japan and China were "not productive.""It is necessary that Japan and China reach an accord on how to avert an incident," Maehara said at a meeting hosted by Kyodo News."We are required to strategically establish a win-win relationship between the two countries, considering that tensions and confrontations are disadvantageous for both," he said.

KHARTOUM, Sept. 17 (Xinhua) -- Sudanese Minister of Foreign Affairs Ali Ahmed Karti said on Friday his visit to China carried reassurances and confirmations to the Chinese side his government keenness to enhance cooperation with China even after a referendum to be held in southern Sudan."We have delivered a message on our keenness on continuation in enhancing the cooperation with China and expanding its investments in the country, particularly in north Sudan," Karti told reporters at Khartoum airport today upon return from a tour that included China and Egypt."China is an important country for Sudan and we are keen to fully coordinate with it, particularly with regard to current international issues. We are expecting China to play an important role in the international meeting on Sudan, scheduled for September 24, 2010," he added.He further stressed that Sudan was looking forward to enhancing ties with China, saying that "I have held consultations with the Chinese leadership on many issues and we have agreed on coordination during the forthcoming meetings of the United Nations General Assembly."The Sudanese minister described his visit to China as "one of the best official visits," adding that "we have managed to convey our viewpoint on many issues that has received complete response on the part of the Chinese leadership."On January 9, 2011, the southern Sudanese are expected to vote in a referendum on self-determination for southern Sudan to opt between unity or separation according to the provisions of the Comprehensive Peace Agreement (CPA), inked between north and south Sudan in 2005, and the Sudanese Constitution.The referendum would be considered legal if fifty eight percent of the registered voters participated in the referendum, and if the quorum was incomplete, there would be re-voting with the same terms in 60 days of the announcement of the referendum result.The result of the referendum would be decided by a simple majority of fifty percent plus one of the votes.

BEIJING, Oct. 7 (Xinhua) -- China's water resources imbalances between the north and south may worsen due to global climate changes and economic activities, said Vice Minister of Water Resources Hu Siyi.Typically, China's north is dry while its south has abundant water supplies.China will face unprecedented challenges in saving water in the next five-year plan from 2011 to 2015, said Hu at a national water-saving meeting in Zhengzhou, capital of central China's Henan Province, late September.Compared with the 1956-1979 period, rainfall in the Yellow River, Huaihe River, Haihe River and Liaohe River vallies in the 1980-2000 period had dropped six percent on average and river and lake water resources decreased 17 percent in these areas, according to figures from the Ministry of Water Resources.China's accelerated urbanization has pushed up demand for water.If the population in Beijing keeps on climbing, the water brought by the near completed South-to-North Water Diversion Project would not be enough, Hu said.China's water-saving targets during the 12th five-year plan from 2011 to 2015 include a 30-percent cut in water use for every 10,000 yuan (1,490 U.S. dollars) of gross industrial output, Hu said.