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A senior central bank official has rejected calls for a quicker increase in the flexibility of the renminbi exchange rate, saying the currency's role in rectifying global economic imbalances should not be exaggerated. Hu Xiaolian, deputy governor of the People's Bank of China, said more attention should instead be paid to growing protectionism to safeguard the health of the world economy, according to a central bank statement and Xinhua. She was speaking in Washington on Saturday at a conference during the semi-annual meetings of the International Monetary Fund (IMF) and the World Bank. The meetings are a venue for key financial officials of the two institutions' member countries to discuss global economic issues. Officials and economists at the IMF, which has a mandate to safeguard the global economy and render advice to member countries, said that Beijing should pursue a more flexible exchange rate, for the sake of both the Chinese economy and a more balanced global economy. However, China did not seem to see the advice as being appropriate. "The fund... should respect its member countries' core interests and actual economic fundamentals," Hu was quoted as saying. "Biased advice would damage the fund's role in safeguarding global economic and financial stability." In July 2005, China abandoned the renminbi's decade-old peg to the US dollar and let the currency appreciate by 2.1 per cent. Since then, it has gained almost another 5 percent against the dollar. However, there has been a persistent international chorus, led by the United States, arguing that China has not been moving quick enough in letting its currency rise. US lawmakers have said that the country's trade deficit was partly caused by what they believed an undervalued Chinese currency. Chinese officials say the yuan's flexibility would gradually increase but argue that radical steps would generate shocks in the Chinese economy which could spread to the rest of the world. "The IMF... should attach significance to stability of domestic economies (of member countries) when observing their contribution to outside stability," Hu said. She said the IMF should strengthen surveillance over the soundness of economic policies of countries whose currencies are used as major instruments in other countries' foreign exchange reserves. She was clearly referring to the US, whose low savings rate, and fiscal and trade deficits are agreed to be a key cause for global economic imbalances. Hu also called attention to what is seen as a rising protectionist sentiment, which has been causing troubles for China's exporters. "We call on all countries to harness the opportunities created by globalization... and resolutely oppose protectionism," she said.

UNITED NATIONS -- China's special representative for climate change talks, Yu Qingtai, urged the international community to conduct substantive negotiations aimed at securing a new global post-2012 agreement on climate change by 2009.Speaking at the UN General Assembly debate on climate change, Yu said that the Bali roadmap, adopted at the UN climate conference last December by delegates from nearly 190 nations, is "only a beginning.""The international community must continue with the task of conducting substantive consultations and negotiations, so as to insure a final agreement on the post-2012 international cooperation on climate change within the next two years," he said.Yu emphasized that any framework for future arrangements must be firmly based on the principles established by the UN Framework Convention on Climate Change (UNFCC) and the Kyoto Protocol, particularly the principle of common but differentiated responsibilities.The four building blocks of the roadmap -- mitigation, adaptation, technology transfer and financing, are all important components for developing an effective framework for responding to climate change, and should be given equal attention, and none of them should be neglected, he noted.Urging developed countries to further strengthen policies and measures aimed at emission reduction, the special envoy said the concerns by developing countries over adaptation, technology transfer and financing should be addressed in earnest, so that they will have the capacity to make greater contributions to confronting the challenge from climate change."The effectiveness of participation by the developing countries will, to a significant extent, depend on whether the developed countries will take substantive actions on financial and technological assistance," he said. "Effective mechanisms should be set up as soon as possible to insure that measurable, reportable and verifiable assistance be provided to the developing countries with regard to financial resources, technology and capacity building," he said.China takes climate change "very seriously" and have adopted various policies and measures to respond to the challenge, with " noticeable success," he said."While making our own due contribution, we will also help other developing countries to enhance their ability to adapt to climate change," Yu added.Representatives, including some 20 ministers, from more than 100 countries and international organizations attended the two-day high-level session and exchanged views on ways to move forward the negotiating process launched in the Bali conference.

BEIJING - The crab trade across the Taiwan Strait has slowed in what should be its peak season due to picky quarantine standards put forward by the Taiwan authorities, said a Chinese mainland official here Wednesday."We hope the related non-governmental organizations from both sides will carry on negotiations so that Taiwan people can enjoy this delicacy at the right time," said Li Weiyi, spokesman of the Taiwan Affairs Office of the State Council.Fresh crabs, especially those bred in East China's Jiangsu Province, have become a traditional and popular mid-autumn dish and have sold well in Taiwan.The two sides had reached an agreement on quarantine standards of crabs in July, but in August the Taiwan authorities submitted new standards requiring residues of all drugs to be undetectable, which was too picky and impractical, Li said.The mainland had exported quality and safe food, he said, adding that 99 percent of food exported to Japan and the European Union met their standards."We do expect the two sides to show sincerity and settle this problem for the benefit of consumers," he said. "We have noticed that a certain group in Taiwan is trying to discredit mainland foods. Such politically driven action will greatly harm normal trade across the Strait."In the first eight months of this year, the mainland has found 27 consignments of unqualified food imported from Taiwan. "We handled them according to regulations, but did not exaggerate the situation," Li said.He said the mainland would continue encouraging imports of produce from Taiwan.A 30-member purchasing group from the mainland visited Taiwan this month and signed an initial agreement to buy 2,000 tons of local fruits."We will support more farm produce importers and trade organizations in visiting Taiwan," Li said.Meanwhile, he urged the Taiwan authorities to speed up the talks on opening Taiwan to mainland tourists.Tourism organizations from the two sides had held six rounds of talks on technical issues."The two sides have developed common understanding, but a number of problems remained unresolved," Li said.After the fifth round of talks, the mainland put forward a set of practical solutions, but the Taiwan authorities had made no response for months, he said.

Fifty-two of the 57 speakers at a public forum Thursday opposed the development of a chemical plant in the city of Xiamen, Fujian Province.Provincial authorities had invited residents to share their views and give suggestions on the proposed development of the plant in Haicang district.A further 42 participants will get the chance to voice their views today.Some of those who opposed the scheme are believed to either own or have plans to buy an apartment in Haicang.They argued that Xiamen has long been known for its beautiful scenery and for being one of the most livable cities in China.Other representatives said the government should find a way to balance the economic development of the area with environmental concerns.The authorities put the paraxylene (PX) plant, which was to be built 16 km from the city center, on hold in May after coming under pressure from locals opposed the project.Paraxylene is a highly polluting, cancer-causing petrochemical used to make purified terephthalic acid, a raw material for producing polyester film, packaging resin and fabrics. Health experts have also said it can cause fetus abnormalities.The 10.8 billion yuan (.5 billion) plant for the Tenglong Aromatic PX (Xiamen) Co Ltd was expected to produce 800,000 tons of paraxylene and add about 80 billion yuan a year to the local economy.The authorities started soliciting opinions from the public following the publication last Wednesday of an environmental assessment report by experts from the Chinese Research Academy of Environmental Sciences (CRAES).It said public participation was an important step in the environmental assessment of urban planning.The CRAES report advised Xiamen's urban planners to choose between developing Haicang district into a sub-center of the city or creating an industrial zone focused on the chemical industry.It also indicated that creating an industrial zone would require demolishing a number of houses, relocating residents and conducting strict safety controls over the chemical plant.Participants in the forum were chosen by lottery on Tuesday, under the supervision of the Xiamen notary office, from the 624 people who registered online or by calling a hotline number.A further 100 people were selected as alternative representatives. More than 100 people were disqualified for providing invalid ID numbers, the local government website stated.

WASHINGTON -- At high-level economic talks that wrap up Wednesday, China is urging frustrated US officials to be patient as the two powers work to manage a delicate trade relationship. The United States, by contrast, is pushing for quick action. The talks began Tuesday and could yield some results, including increased US airline flights to China and a lowering of barriers to sales of American energy technology products in China. Senior US officials have tamped down expectations of major breakthroughs, however, as they described the meetings as strategic discussions, not negotiating sessions. US Commerce Secretary Carlos Gutierrez said the twice-a-year talks are "all about the long-term; developing a common understanding of the future." Still, the US side made a point of noting simmering frustration. Treasury Secretary Henry Paulson said Americans are by nature impatient people; Gutierrez described the "need to make progress in all areas as soon as possible." The urgency is reflected in an increasingly restive US Congress, where lawmakers are considering a spate of bills that would impose economic sanctions on China. Many blame America's soaring trade deficits and the loss of one in six manufacturing jobs since 2000 in part on claims of Chinese currency manipulation and copyright piracy. In blunt words, Chinese Vice Premier Wu Yi cautioned the United States against making accusations. "We should not easily blame the other side for our own domestic problems," Wu said through an interpreter. "Confrontation does no good at all to problem-solving." Wu, known as a tough negotiator, said that both countries should "firmly oppose trade protectionism." She warned that any effort to "politicize" the economic relationship between the two nations would be "absolutely unacceptable." Wu and her delegation were scheduled to meet privately this week with major congressional leaders. The US delegation raised the issue of food safety highlighted by such incidents as the deaths of pets who had eaten pet food made with tainted wheat gluten imported from China. US Labor Secretary Elaine Chao, briefing reporters at the end of the first day of talks, said Agriculture Secretary Mike Johanns had made a forceful presentation to the Chinese about the concerns Americans have about food safety. In response, she said, Chinese officials sought to assure the Americans that they would fully investigate any problems discovered. Democratic Sen. Edward M. Kennedy and four other senators urged the Bush administration in a letter to get Chinese commitments to cooperate in investigations into food safety, saying that the way China currently handles the issue is unacceptable. Paulson created the talks last year as a way to get the countries' top policy makers together twice a year to work toward reduced trade tensions. The first meeting was in Beijing last December.

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