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BEIJING, Jan. 17 (Xinhua) -- The United States needs to face up to its own imbalances rather than engage in more China bashing over trade, said world-renowned economist Stephen Roach.     "The West, especially the United States, needs to take a long hard look in the mirror and face up to its own imbalances. Hypocrisy is not a recipe for global statesmanship," wrote Roach in Singapore's leading financial daily Business Times this week.     As U.S. congress and the White House look toward the mid-term elections of 2010, Washington could well up the ante on China bashing -- moving from a rhetorical assault to widespread trade sanctions, predicted Roach, chairman of Morgan Stanley Asia.     He noted that the United States has already imposed trade sanctions on Chinese exports of tyres, coated paper product and steel piping and grating in recent month.     Roach argued that the expected salvo from Washington was apparently built on hypocrisy as the United States itself should also be held accountable for the global economic imbalances.     Meaningful progress on global rebalancing could not occur without progress by both China and the United States and that China has a more optimistic prospect of achieving rebalancing, he said.     "There is good reason to believe that China ... is about to take dramatic steps in rebalancing its domestic economy in a fashion that would provide a sustained and meaningful reduction in its current account surplus."     China viewed the recent crisis and recession as an unmistakable wake-up call, which left the country with little choice other than to shift the sources of its GDP growth from external to internal markets, he said.     However, it was hard to be sanguine about the outlook for America's saving and current account imbalance.     "The United States, with its massive shortfall in domestic saving, has come to rely heavily on surplus saving from abroad to fund economic growth. And it must run massive current account deficits in order to attract that capital," he said.     All nations need to be accountable for the role they need to play in driving a long overdue global rebalancing, said Roach. "It would be the height of folly to try and force China into a counter-productive approach, especially since it appears to be taking its own rebalancing agenda very seriously."

BEIJING, Feb. 4 (Xinhua) -- Chinese Vice Premier Hui Liangyu said Thursday that the civilians and army should develop favorable interactions to secure both economic and defense development.The government will mobilize various social resources to support the modernization of and various military demands of the army, said Hui at a meeting here.It will also work to better protect the legal rights and interests of servicemen and their families, he said.Hui also hoped the armed forces could contribute to the development and stability of the Chinese society.To develop close army-civilian relations, the government and armed forces should work together to solve problems that common people and soldiers care most and well settle the disputes between the army and localities, so as to well safeguard the fundamental interests of the army and civilians, he said.

BEIJING, Jan. 27 (Xinhua) -- China is scheduled to issue 26 billion yuan (3.82 billion U.S. dollars) of book-entry treasury bonds from Jan. 28, the Ministry of Finance (MOF) announced Wednesday.The two-year bonds, the first batch of treasury bonds this year, will be issued on the national inter-bank bond market and securities exchange market on Jan. 28 and Jan. 29, the MOF said in a statement on its website.The bonds have a fixed annual interest rate of 2.01 percent and will be available for trading from Feb. 2. Interest will be paid annually. The principal will be paid upon maturity on Jan. 28, 2012.

URUMUQI, March 12 (Xinhua) -- A severe sandstorm hit Xinjiang's Hotan Prefecture in northwest China on Friday, reducing visibility to zero in some areas, local meteorological observatory said.The fierce sandstorm swept through the prefecture from west to east in the morning, said a spokesman with Hotan's meteorological observatory.The sandstorm, though reducing in severity, would continue to plague the area till March 16, leading to a temperature drop of 5 to 8 degrees Celsius, he added.The sandstorm had affected local traffic and agriculture, according to a statement from the Hotan government.

BEIJING, Jan. 20 (Xinhua) -- Presidents of China and Austria on Wednesday witnessed the signing of a package of deals and vowed to uplift bilateral relationship."China would like to work with Austria to bring relationship to a new high," Chinese President Hu Jintao told visiting Austrian President Heinz Fischer. Chinese President Hu Jintao (L) and Austrian President Heinz Fischer inspect the guard of honour in Beijing, China, Jan. 20, 2010. Fischer arrived here Tuesday noon for a four-day state visit to China.In their hour-long talks at the Great Hall of the People, Hu reviewed the development of bilateral relations since China and Austria forged diplomatic relations in 1971."China and Austria witnessed deepening and growing ties," Hu said, citing expanded cooperation in economy, trade, investment, science and technology and culture. Chinese President Hu Jintao (R) shakes hands with Austrian President Heinz Fischer in Beijing, China, Jan. 20, 2010. Fischer arrived here Tuesday noon for a four-day state visit to China.Fischer echoed Hu's views, saying China had become an important cooperation partner of Austria.Fischer said Austria was satisfied with ties with China, as bilateral trade increased steadily last year despite the international financial crisis.China-Austria trade hit 4.33 billion U.S. dollars from January to November in 2009, according to China's Customs.This was Fischer's first state visit to China since he took office in July 2004.Fischer's entourage included more than 60 officials in health, defense, sports, business, commerce, banking, among others, and around 120 business executives.Fischer expressed condolences over the death of eight Chinese peacekeeping police officers in a 7.3-magnitude earthquake in Haiti last week. Their bodies were returned to Beijing Tuesday.Hu called the eight peacekeepers "excellent children of Chinese nation and loyal guards of world peace," and said Chinese people felt grieved about their suffering.Though China and Haiti have not established diplomatic relations, China dispatched an international rescue team to the Caribbean nation and offered emergency reliefs and funds, Hu said."China would work with the international community to support Haiti's relief efforts and post-quake reconstruction," Hu said.Hu appreciated the Austrian government's adherence to the one-China policy and commitment to developing positive ties with China.Looking to the future, Hu proposed both leadership maintain close contacts, governments and legislatures expand communication in a bid to deepen political trust.On the economic front, Hu said both countries should make use of their own advantages and expand cooperation. He encouraged both sides to explore new ways of collaboration and foster new areas of growth."Both sides should increase the contacts between business councils so as to boost the cooperation between small and medium-sized enterprises."He called for joint efforts to stand against trade and investment protectionism and provide a legal guarantee for expanded mutual investment.In response, Fischer said Austria welcomed the visit of Chinese business promotion delegation. He also encouraged both countries to step up aviation cooperation.Hu proposed both countries work more closely in culture, education, tourism, think tank and media, promoting dialogues between different cultures."As next year will mark the 40th anniversary of bilateral diplomatic ties, China would like to work with Austria to prepare celebrations," Hu said.Hu also pledged to cooperate more with Austria on international and regional issues.Fischer said Austria would like to play a positive role in promoting ties between Europe and China.At the end of talks, the two presidents witnessed the signing of five deals in public health, quality quarantine, science and technology, personnel training and Chinese teaching.