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BEIJING, Jan. 20 (Xinhua) -- Major foreign media have been positive in their coverage so far of Chinese President Hu Jintao's four-day visit to the United States, which began Tuesday.AP said Obama was lavishing the grandest of White House welcomes on Hu as the leaders of the two powers looked for common ground on economic and security issues without alienating their domestic audiences."I absolutely believe China's peaceful rise is good for the world, and it's good for America," Obama said.The Washington Post said Obama stated several times that the United States does not fear a stronger China and that Washington has no interest in blocking Beijing's emergence as a superpower.Chinese President Hu Jintao speaks at a welcoming ceremony held by U.S. President Barack Obama on the South Lawn of the White House in Washington, the United States, Jan. 19, 2011It also said Hu's visit, in addition to serious policy matters, featured a fair amount of glitz. He arrived at the White House to a 21-gun salute and was sent off with a state dinner.The Wall Street Journal said President Obama is looking to assure Americans that they should not fear China's economic rise, using Chinese President Hu's high-profile state visit to announce job-creating business deals worth billions of dollars to U.S. companies.The two sides played down differences and stressed areas of cooperation, ranging from a plan to cooperate on nuclear security to an extension of the loan of two Chinese pandas to Washington's zoo.CNN said at a joint news conference held by the two leaders, Obama praised a "spirit of cooperation that is also friendly competition." President Hu told reporters the countries' relationship is based on "mutual respect and mutual benefit."Obama stressed common interests between the nations while toasting the Chinese leader at the White House, CNN said.VOA said dozens of business deals this week will increase U.S. exports by more than 45 billion U.S. dollars and increase China's investments in the United States by several billion dollars.AFP said that, during Hu's visit, the United States and China had announced a raft of trade deals worth 45 billion dollars. The deals, spanning sectors as diverse as agriculture, gasification, railways and hybrid buses, would support 235,000 U.S. jobs."The scope of Wednesday's deals were seen as evidence of the rapidly deepening business links between the two countries," AFP said.The Los Angeles Times said in its report that two leaders "unapologetically acknowledged major differences on economic issues and human rights" in a White House summit Wednesday, but also pledged cooperation to stabilize relations between the world's two largest economies.Obama said the United States hoped to benefit from China's "rapid and peaceful" growth, the report said.The Times of India said, "China's President Hu Jintao arrived in Washington on Tuesday on a four-day U.S. visit that is being watched in every capital on the planet."O Estado de S. Paulo, a local daily newspaper in Brazil, quoted President Hu's words, saying that China and the United States "stand to gain from a sound China-U.S. relationship, and lose from confrontation," thus they needed to discard the "Cold War mentality."The newspaper also said the two nations both hoped to take the visit as an opportunity to rebuild mutual trust despite some frictions over the past year.

BEIJING, March 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, auctioned 50 billion yuan (7.61 billion U.S. dollars) of three-month bills at a yield of 2.7944 percent on Thursday, temporarily easing speculation of an approaching interest rate hike.The yield on three-month bills stood unchanged from last week at 2.7944 percent.Also, PBOC sold 60 billion yuan (9.13 billion U.S. dollars) worth of 91-day repurchase agreements to banks on Thursday with a yield of 2.8 percent.Offsetting the 181 billion yuan (27.55 billion U.S. dollars) of bills and repurchase agreements that matured, PBOC took 49 billion yuan (7.46 billion U.S. dollars) of liquidity out of the money market this week through open market operations on Tuesday and Thursday.Market analysts have been watching PBOC's open market operations closely this week as the yield of its one-year bill sold on Tuesday exceeded the benchmark interest rate of one-year deposits, which some analysts interpret as a reason for an imminent interest rate hike.Chen Lan, an analyst with Guotai Junan Securities, said higher yields on central bank bills would boost PBOC's ability to absorb liquidity from the market amidst the country's economic tightening efforts."But the hike of interest rates is not an imminent task for the central bank amid the slowdown of China's industrial investment in February, which weakened consumer confidence, and economic uncertainty overseas," Chen said.China's industrial value-added output grew 14.1 percent in the first two months of this year, the National Bureau of Statistics (NBS) announced on Friday.The growth rate during the first two months was up by 0.6 percentage points compared to that in December of last year, according to figures released by the NBS.Chen predicted that PBOC will reduce its frequency to raise banks' reserve requirement ratio in coming months but said the rate hike expectation would continue this year as the government is hoping to curb the red hot property market and soaring inflation.China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, adding more monetary tightening pressure to the government. 

NEW YORK, March 9 (Xinhua) -- The U.S. stocks dropped on Wednesday, the two-year anniversary of the beginning of a bull market, as concerns of oil prices and Middle East unrest continued to weigh on investors' minds.U.S. crude oil price dipped on Wednesday as crude inventories rose more than expected, though Brent crude rose on fears caused by continued violence in Libya.Meanwhile, Rex Tillerson, the CEO of energy giant Exxon Mobil Corp., said on Wednesday that he didn't think the recent jump in oil prices was hurting the U.S. economy just yet, but it's getting close.The market was worrying that the surging oil prices would hurt global economic recovery. Adding to those concerns, the Portuguese government's two-year cost of borrowing hit the highest level since it joined the eurozone in a bond auction on Wednesday.Wednesday marked the two-year anniversary of the beginning of a bull market. On March 9, 2009, the Dow Jones Industrial Average closed at 6,547 and the Standard & Poor's 500 Index closed at 677. The Dow is back above 12,000 now and the S&P 500 index has almost doubled.Meanwhile, the wholesale report was slightly positive, but still failed to boost the market. According to the U.S. Commerce Department, the wholesale inventories climbed 1.1 percent in January. Sales at the wholesale level rose 3.4 percent, the largest gain since November 2009.Economists expected that as businesses kept expanding, demands for products would continue to grow. And larger sales may also encourage businesses to keep restocking their shelves and boost factory production.According to the report, a 10.6-percent rise in demand for petroleum helped lift sales, reflecting higher oil and gas prices.While some investors were concerned that surging oil prices might have a negative impact on economy, some others believed the boost in sales and inventories in January hinted that the economy could withstand the impact.The Dow Jones industrial average lost 1.29 points, or 0.01 percent, to 12,213.09. The Standard & Poor's 500 Index was down 1. 80 points, or 0.14 percent, to 1,320.02. The Nasdaq declined 14.05 points, or 0.51 percent, to 2,751.72.

CAPE TOWN, April 30 (Xinhua) -- The World Economic Forum on Africa, scheduled on May 2-4 in Cape Town, South Africa, will see participants exchange views on how the continent can turn to the next chapter of development.The meeting, expected to gather a record 900 participants from over 60 countries, will be held under the theme "From Vision to Action, Africa's Next Chapter," organizers said."We chose this theme because we feel it is very relevant for the events that are taking place on this continent, and the opportunity for growth and investment that the international and African communities are seeing," said Katherine Tweedie, head of Africa for the World Economic Forum.Seven of the fastest growing economies in the world in the next five years will be in sub-Saharan Africa, Tweedie noted, saying that a lot of discussion will be devoted to explore drivers behind this growth.Africa's economic growth in recent years have impressed the world. Though being the most underdeveloped continent, Africa have been more resilient than expected during the global economic crisis.The International Monetary Fund (IMF) have predicted that the continent's growth in 2011 will reach 5.3 percent.Under one of the three thematic pillars, "Shaping Africa's Role in the New Reality," the meeting will explore how Africa can take on a leadership role in the new reality and guard against newly emerging global and regional risks. Participants will look at how Africa can strengthen its representation and negotiation capacity on global platforms such as COP 17 and the G20.Meanwhile, the meeting will look into Africa's industrial diversification, which is widely considered as an effective way to increase competitiveness. Discussions under the thematic pillar of "Fostering Africa's News Champions of Growth" will focus on what innovative and entrepreneurial lessons drive Africa's fastest- growing companies, and how can Africa's emerging economies build capacity in science, technology and innovation to move up the value chain.Another topic expected to attract much attention is Africa's inclusive development. In recent years, African decision makers have been looking for ways to attain inclusive development by translating economic growth into better lives for the people.Marcus Courage, managing director of consulting group Africapractice, said ahead of the meeting that Africa must start measuring its economic growth in terms of job creation and progress of value addition of what it produces, rather than the gross domestic product (GDP), if it has to move from vision to action."One of the challenges is that we measure economic success in therms of GDP. That is not fair reflection of action," he told Xinhua.Under the thematic pillar of "Building Partnership for Inclusive Development," participants will debate on how can inclusive growth be put at the heart of a sustainable development agenda for Africa, and how can government of African countries work together with the business sector to distribute more equitably the benefits from the wealth in natural resources, among others.Regarding the highlight of this year's meeting, Tweedie said there will be a strong focus on green growth and the environment agenda, working closely with the South African government, given that South Africa will be hosting the COP 17 meetings in December.The meeting will also have very strong representation from Francophone west Africa for the first time. As a result a good part of the discussions will be focusing on issues taking place in this part of Africa, she added.Although South Africa has hosted the World Economic Forum on Africa for a number of times, this year the host is attracting particular attention.South Africa has joined the BRICS group of countries which also include Brazil, Russia, India and China, becoming the only African member in the grouping. It is also the only country from Africa in G20. In November this year, South African city of Durban will host the 17th Conference of the Parties (COP 17) to the UN Framework Convention on Climate Change.How can the country speak for Africa in the international arena, and what role can it play in facilitating closer cooperation between developing countries is also expected to draw in-depth discussions at the meeting.Meanwhile, participants are also expected to exchange views on issues including Africa's agriculture development, infrastructure construction, China-Africa cooperation, impact of political situation in North African and the Middle East on Africa's economic development, among others.

BEIJING, Jan. 20 (Xinhua) -- Major foreign media have been positive in their coverage so far of Chinese President Hu Jintao's four-day visit to the United States, which began Tuesday.AP said Obama was lavishing the grandest of White House welcomes on Hu as the leaders of the two powers looked for common ground on economic and security issues without alienating their domestic audiences."I absolutely believe China's peaceful rise is good for the world, and it's good for America," Obama said.The Washington Post said Obama stated several times that the United States does not fear a stronger China and that Washington has no interest in blocking Beijing's emergence as a superpower.Chinese President Hu Jintao speaks at a welcoming ceremony held by U.S. President Barack Obama on the South Lawn of the White House in Washington, the United States, Jan. 19, 2011It also said Hu's visit, in addition to serious policy matters, featured a fair amount of glitz. He arrived at the White House to a 21-gun salute and was sent off with a state dinner.The Wall Street Journal said President Obama is looking to assure Americans that they should not fear China's economic rise, using Chinese President Hu's high-profile state visit to announce job-creating business deals worth billions of dollars to U.S. companies.The two sides played down differences and stressed areas of cooperation, ranging from a plan to cooperate on nuclear security to an extension of the loan of two Chinese pandas to Washington's zoo.CNN said at a joint news conference held by the two leaders, Obama praised a "spirit of cooperation that is also friendly competition." President Hu told reporters the countries' relationship is based on "mutual respect and mutual benefit."Obama stressed common interests between the nations while toasting the Chinese leader at the White House, CNN said.VOA said dozens of business deals this week will increase U.S. exports by more than 45 billion U.S. dollars and increase China's investments in the United States by several billion dollars.AFP said that, during Hu's visit, the United States and China had announced a raft of trade deals worth 45 billion dollars. The deals, spanning sectors as diverse as agriculture, gasification, railways and hybrid buses, would support 235,000 U.S. jobs."The scope of Wednesday's deals were seen as evidence of the rapidly deepening business links between the two countries," AFP said.The Los Angeles Times said in its report that two leaders "unapologetically acknowledged major differences on economic issues and human rights" in a White House summit Wednesday, but also pledged cooperation to stabilize relations between the world's two largest economies.Obama said the United States hoped to benefit from China's "rapid and peaceful" growth, the report said.The Times of India said, "China's President Hu Jintao arrived in Washington on Tuesday on a four-day U.S. visit that is being watched in every capital on the planet."O Estado de S. Paulo, a local daily newspaper in Brazil, quoted President Hu's words, saying that China and the United States "stand to gain from a sound China-U.S. relationship, and lose from confrontation," thus they needed to discard the "Cold War mentality."The newspaper also said the two nations both hoped to take the visit as an opportunity to rebuild mutual trust despite some frictions over the past year.