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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.

LISBON, Nov. 7 (Xinhua) -- Chinese President Hu Jintao concluded his state visit to Portugal on Sunday and has left the Portuguese capital of Lisbon for home.The president arrived in Lisbon on Saturday after a three-day state visit to France that began on Thursday.In Lisbon, Hu had talks with Portuguese President Anibal Cavaco Silva and met other Portuguese leaders, exchanging views on how to deepen bilateral pragmatic cooperation. Both sides also discussed major world and regional issues of common concern.Hu and Silva agreed to work together to deepen the comprehensive strategic partnership between the two countries. Chinese President Hu Jintao (L) and Portuguese Prime Minister Jose Socrates hold a joint press conference in Lisbon, Portugal, Nov. 7, 2010. In France, Hu and his French counterpart Nicolas Sarkozy met for talks and agreed to make joint efforts to boost bilateral cooperation.Hu said in the talks that since diplomatic ties were forged 46 years ago, the China-France relationship has been characterized by its strategic and global nature and its ability to move with the times.The Chinese president called on both sides to continuously deepen mutual understanding by carrying out high-level visits and exchanges between governments, legislatures, political parties and regions.Both countries should advance with the times, be creative in practical cooperation, expand trade and try to double their trade volume by 2015, he said.During Hu's visit, China and France signed a host of cooperation agreements covering a wide range of areas, including nuclear energy, aviation, finance, energy efficiency, and environmental protection.On Thursday, China and France issued a joint statement on strengthening their comprehensive strategic partnership.The statement said the two countries should make a major contribution to peace, stability and development of the world, conform to the purposes and principles of the UN Charter, promote multilateralism and respect the independent and sovereign choice for the development of each country.Analysts said that the Chinese president's state visits to France and Portugal have promoted not only bilateral cooperation, but also the development of China-Europe ties.

URUMQI, Sept. 5 (Xinhua) - China will upgrade an annual trade fair held in Urumqi, capital of Xinjiang Uygur Autonomous Region, to a leading trade platform in the heart of Eurasia and to boost cross-border economic cooperation in a region vulnerable to unrest and violence.The China Urumqi Foreign Economic Relations and Trade Fair, which closed here Sunday, will be re-launched as China-Eurasia Expo beginning next year, government organizers said, and it will become an important exchange platform for the Shanghai Cooperation Organization, which includes China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan."The upgrading is overall and comprehensive," said China's Minister of Commerce Chen Deming, who heads the China-Eurasia Expo Organizing Committee.He said the Expo will serve as China's platform to reach out to the entire Asia and Europe rather than just central and south Asia.People visit the 19th Urumqi Trade Fair in Urumqi, capital of northwest China's Xinjiang Uygur Autonomous Region, Sept. 4, 2010. The five-day annual trade fair closed on Sunday. The Chinese government has decided to upgrade the Urumqi Trade Fair to the China-Aisa-Europe expo since 2011.Though details of the expo is not yet clear, organizers and observers said it might include talks to ink trade pacts between regional economies and will cover diplomatic and cultural issues as well.Foreign trade contracts signed at this year's fair totals 3.613 billion U.S. dollars, organizers said, while project contracts --including domestic deals--reached 126 billion yuan and cover a broad field of mining, crude oil processing, construction and tourism, among others.Xinjiang, which has a large proportion of ethnic Uygurs in its population and lies at China's far west bordering Central Asian states, including Pakistan and Afghanistan, is a region vulnerable to unrest and terrorist threats.In July 2009, 197 people were killed while 1,700 were injured in the country' s worst riots in decades in Urumqi. Authorities blamed separatists and extremists for inciting the violence.In the wake of the riot, the central government also ramped up development drives in this remote and largely underdeveloped region, aiming to root out the seeds of unrest.But the air of the city remains tense and security measures were re-enforced over the past five days during the fair. No violence or security issues were reported.Zhang Chunxian, the top official in Xinjiang, said holding the China-Eurasia Expo would help remake Xinjiang as a key region for China' s opening-up to its western neighbors.Ying Qian, an expert on regional cooperation with Manila-based Asian Development Bank, told Xinhua that the central government's policy supports for Xinjiang, such as taxation reform for crude oil and natural gas, and tax exemptions and reductions for enterprises in poverty areas, and increased fixed investment will undoubtedly increase the speed of economic growth and attract more domestic and foreign investments to Xinjiang.He said those fixed investments aimed at enhancing Xinjiang's position as the land bridge to connect rest of China to central Asia and beyond will yield most economic benefits for Xinjiang, as well as for rest of member countries of the ADB-supported Central Asia Regional Economic Cooperation (CAREC) Program.The program, initiated in 1997 to encourage regional cooperation, includes Afghanistan, Azerbaijan, China (focusing on Xinjiang Uygur Autonomous Region), Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan and Uzbekistan.The ADB economist said the investments should include key transport links, trade logistics facilities, and most importantly, border crossing points improvements."The CAREC countries need to turn their landlocked status into a land link for Eurasia, and to enable businesses to more readily access regional and global markets," said Ronald Butiong, the ADB economist who heads the CAREC Unit.

BEIJING, Sept. 2 (Xinhua) -- Chinese President Hu Jintao and his Ukrainian counterpart Viktor Yanukovich expressed here Thursday the willingness to lift the friendly and cooperative China-Ukraine relationship to a new level.They also promised to strive to increase two-way trade to 10 billion U.S. dollars by 2012. According to official statistics, trade between China and Ukraine topped 3.3 billion U.S. dollars in the first half of the year, up 31.3 percent year on year.The two presidents attended the signing ceremony of a dozen documents on bilateral cooperation involving such areas as official relations, finance, infrastructure development, aerospace, business, customs and quarantine, railway lines and electricity.Chinese President Hu Jintao (R) shakes hands with Ukrainian President Viktor Yanukovych during a welcoming ceremony held for Yanukovych at the Great Hall of the People in Beijing, capital of China, on Sept. 2, 2010.According to a contract signed Thursday afternoon, Chinese companies will undertake the construction of a 950-million-U.S.-dollar city rail line connecting the airport in Kiev, the capital city of Ukraine.President Hu urged the two sides to earnestly implement the cooperative projects that they have agreed upon and to actively explore new projects.Yanukovich is in Beijing for his first ever visit to China. He is also the first Ukrainian President to visit China since 2002.During the talks, Hu expressed readiness to further deepen and upgrade bilateral ties, as China has always placed importance on its relations with Ukraine, maintaining that the two sides should view bilateral ties from a strategic and long-term perspective.He expressed the readiness to work with the Ukrainian side to strengthen political dialogue and consultation through exchanges and inter-government contact.Hu said China will continue to strengthen cooperation with Ukraine in regional and international organizations to jointly promote global peace, stability and prosperity.Yanukovich said the two sides should work together to tap into the potential of bilateral strategic cooperation.He said the two sides should strengthen political dialogue, boost exchanges of high-level officials and increase exchanges between political parties and legislatures.Yanukovich expressed readiness to expand bilateral cooperation in the areas of trade, economy, investment, finance, science, technology, infrastructure development, agriculture and aerospace.Both Hu and Yanukovich said the consensus they reached during a meeting at the nuclear security summit in Washington in April added fresh impetus to bilateral ties.During his stay in Beijing, Yanukovich will also meet with top Chinese legislator Wu Bangguo and Premier Wen Jiabao.Yanukovich will fly to Shanghai Saturday to attend the 2010 World Expo.

VIENNA, Sept. 14 (Xinhua) -- The six-party talks is the fundamental way of solving the Korean Peninsula nuclear issue, a senior Chinese diplomat told the International Atomic Energy Agency (IAEA) directors meeting here Tuesday.From the long term perspective, the fundamental way of settling regional contradictions and disputes is through continuing to advance the six-party talks, achieving the conversion of the mechanism of armistice to peace, and finally establishing a security system of peace in Northeast Asia, said Hu Xiaodi, China' s permanent representative and ambassador to the United Nations and other international organizations in Vienna.To this end, China hopes that no matter how situation changes, parties concerned should fix their attention on the overall situation, exercise restraint, resume direct dialogues and talks at an early date, Hu said, adding all sides should make joint efforts to achieve an early resumption of the six-party talks, and continue to advance the process of denuclearization of the Korean Peninsula.Hu noted that the situation on the Korean Peninsula and in Northeast Asia is still sensitive and complex, with the six-party talks stalled.The current situation once again shows that severe lack of mutual trust among parties concerned is the root cause of both frequent tensions in northeast Asia and difficulties for the six- party talks. Under such circumstances, the only way to gradually accumulate trust and seek to properly address concerns of each side in a balanced manner is through maintaining contacts, dialogues and frank communications, Hu said.Hu said all parties should give serious thoughts on how to change the situation and put the Korean Peninsula issue back on the track of dialogue and consultation at an early date.

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