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BEIJING, Jan. 15 (Xinhua) -- China should steadily promote the internationalization of its currency, the yuan, the head of China's social security fund said Saturday.The internationalization of the yuan is a significant step for advancing the reform of the international monetary system, Dai Xianglong, chairman of China's National Council for Social Security Funds, said when speaking at annual economic forum in Beijing.The current international monetary system has not adapted to the new patterns of global economic development, he said, adding that currency diversification is a realistic solution.Currency diversification means continuing the role of dollar, increasing the role of the euro and internationalizing other currencies, he said.The U.S. dollar, serving as both the U.S. currency and the most important international currency, will be used for U.S. policy goals when the two roles contradict each other, spurring fluctuations in global financial markets, he said, adding that the dollar has a tendency to depreciate.He said the Chinese yuan is a stable currency, and so ensures the safety of other countries' assets.The Chinese currency also enhances world trade, protecting the interests of China's foreign trade and investment, he added.The internationalization of the yuan will take 15 to 20 years, he said, suggesting an expansion of the overseas circulation of the yuan and an acceleration in the opening-up of China's large commercial banks to speed up the process.He urged Chinese banks in foreign countries to offer funding in yuan.He also called for more efforts to reform the interest rate mechanism, to ease the process of the internationalization of the yuan.

BEIJING, Nov. 8 (Xinhua) -- China has moved to speed up the building of a clean government ruled by law, part of the country's efforts to further enhance the government's credibility and maintain a harmonious social order for its rapid economic development.The Legislative Affairs Office of the State Council, or China' s cabinet, issued guidelines on Monday focusing on creating a government ruled by law, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means and invites the public to contribute to legislation.According to a statement issued along with the guidelines, the State Council said it was "important" and "imperative" to build a government ruled by law, as China now faces challenges, including imbalanced development of rural and urban areas, a widening income gap, an increased numbers of "social conflicts" , as well as corruption and injustice in law enforcement in some sectors.An official with the Legislative Affairs Office said Monday that the guidelines will further safeguard public interests and maintain social and economic order by requiring stepped-up efforts from authorities to investigate and punish cases that run counter to the country' s mandate for the safe production and issues related to food safety, the protection of natural resources and the environment, as well as public security.The guidelines, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means, also stipulates that if officials perform their duties according to the law or are skillful at solving disputes by legal means, they will more likely be promoted.However, government officials will be held liable for malfeasance or failure to fulfil their duty in major accidents or cases that have seriously violated laws.Further, the guidelines stress the importance of public participation in legislation, saying people's opinions, reasonable needs and legitimate interests should all be considered in lawmaking.Additionally, the guidelines state that the legislative process shall not be influenced to favor the interests of a certain sector or protect local interests.Also, to facilitate the creation of a clean and transparent government, the guidelines require all government information, aside from that involved in state, commercial or private secrets, to be open to the public.Government departments are also required to reply to pubic requests on the release of government information within a certain period of time and improve the ways of handling government affairs, according to the guidelines.

BEIJING, Nov. 27 (Xinhua) -- China's apparent consumption of crude steel is likely to reach 596 million tonnes this year, a year-on-year increase of 5.6 percent, according to a steel association official.Apparent consumption represents the sum of net imports and output, and can be used to estimate real consumption excluding inventory.Luo Bingsheng, deputy head of the China Iron and Steel Association, expected the country's crude steel output to climb 8.2 percent this year from one year earlier, to reach 624 million tonnes.Luo further noted that a rising investment in 2011 would result in an increase in China's steel demand.If the year-on-year growth of the country's social fixed assets investment maintained itself at around 20 percent next year, China's crude steel apparent consumption would see an annual increase of 40 million to 50 million tonnes next year, said Luo.

MACAO, Nov. 13 (Xinhua) -- Chinese Premier Wen Jiabao announced Saturday that China will launch a series of measures between 2010 and 2013, which were aimed at helping boost the development of less-developed Portuguese-speaking countries.Wen announced the measures when delivering his speech at the opening ceremony of the third Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese- Speaking Countries here in Macao on Saturday.Under the new measures, financial institutions from the Chinese mainland and Macao Special Administrative Region (SAR) will set up a one-billion-U.S.-dollar development fund for cooperation between China and Portuguese-speaking countries, in a bid to push forward the financial cooperation between the two sides.The Chinese government will also provide those African and Asian Portuguese-speaking countries that participated in the third Ministerial Conference of the Forum with 1.6 billion yuan (242 million U.S. dollars) worth of loans on favorable terms within a bilateral framework.The new measures will also see China provide equipments, technical personnel, etc. to the countries, supporting a bilateral agricultural cooperation with each of the African and Asian Portuguese-speaking countries that participated in the third Ministerial Conference of the Forum.Sponsored by China's Ministry of Commerce and hosted by the government of the Macao Special Administrative Region (SAR), the forum was created in Macao in 2003, with the joint participation of seven Portuguese-speaking countries, namely Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and Timor-Leste.

BEIJING, Nov. 27 (Xinhua) -- The key to success at the upcoming Cancun climate change conference rests with the United States and other developed countries.At last year's conference hosted in Copenhagen, developed countries, represented by the United States, failed to make their due commitment to emission reductions, rather, they pointed fingers at developing countries with claims that were groundless.Further, developed countries hampered the efforts to combat global warming as they shied away from their responsibilities. Without any change in their attitude, chances of a successful Cancun conference will be very slim.Developed countries bear responsibility, both due to historical and practical causes. Developed countries, as the earliest industrialized nations, have contributed most to the historical storage of carbon-dioxide (CO2). Practically speaking, these countries rank high in terms of per capita emission, and their citizens' extravagant consumption gives rise to unnecessary emissions. Further, developed countries also have the technological and financial capacity to tackle the problem and offer assistance to the developing world.Historically speaking, developed countries have "sinned" against the world environment when they built their industrial empires on exploiting coal, oil and other natural resources. While they were enjoying the exclusive right to carbon emissions, most developing countries did not even have modern industry and transportation that would produce greenhouse gas emission.Research done by Beijing-based Tsinghua University suggests that developed countries, home to 23.6 percent of the world population, have contributed 79 percent of the aggregate carbon emissions since the industrial revolution.Practically speaking, the annual energy consumption of developed countries represents 64.6 percent of the world's total, while CO2 emissions are 65 percent of the world's total. In per capita terms, China emitted 4.6 tonnes of fossil-fuel-generated CO2 in 2007, less than one-fourth of that of the United States, and half of that in the European Union, according to the Tsinghua University research.Additionally, the International Energy Agency (IEA) reported that the U.S. ranked top in terms of per capita energy consumption, which is five times that of China. Also, the U.S. remains the world's largest consumer of oil, with a daily demand for crude oil standing at 19 million barrels, doubling that of China.Further, China's high carbon emissions are partly due to its lack of energy resources. China is short of oil and gas but rich in coal, and carbon-intensive coal represents two-thirds in its entire energy mix.

来源：资阳报