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BEIJING, Sept. 14 (Xinhua) -- China on Tuesday called on Papua New Guinea to facilitate Chinese investment in the island country in southwest Pacific Ocean."We hope Papua New Guinea will provide conveniences to Chinese business investment in your country and seek common growth," Chinese Vice Premier Li Keqiang told the visiting Prime Minister of Papua New Guinea Michael Somare.Li highlighted Papua New Guinea's role as China's important trade partner and investment destination among Pacific island countries.Bilateral trade totaled about 860 million U.S. dollars in 2008, according to the Chinese Ministry of Commerce.Chinese Vice Premier Li Keqiang (R) meets with Prime Minister of Papua New Guinea Michael Somare in Beijing, capital of China, Sept. 14, 2010.Somare said his country would like to improve the investment environment, promote mutually beneficial cooperation with China and make positive efforts to advance bilateral cooperation and enhance friendship.Somare is leading a delegation to Beijing after his stop in China's port city Tianjin, where he met with Chinese Premier Wen Jiabao on the sidelines of the annual meeting of the New Champions 2010, also known as the Summer Davos.This was the second meeting between Li and Somare as Li visited Port Moresby, capital and the largest city of Papua New Guinea, last November.In their meeting in Diaoyutai Guesthouse in western Beijing later Tuesday, Li stressed the good momentum of bilateral relations in recent years, saying the two countries maintained frequent high-level exchanges and sought pragmatic cooperation in a wide range of fields.China and Papua New Guinea shared many political stances, complemented each other economically and enjoyed a huge potential for enhanced relationship, Li said.Looking to the future, Li said China would like to increase exchange of visits, expand trade and investment, explore cooperation in agriculture, forestry, fishery, energy, resources, transportation, culture, education with the island country.Li reaffirmed China's commitment to seeking stronger coordination and cooperation with Papua New Guinea on international and regional issues.Somare will conclude his China visit on Wednesday.

BEIJING, Sept. 6 (Xinhua) -- The Chinese government announced Monday that it would provide an additional 200 million yuan (29.4 million U.S. dollars) of humanitarian aid to flood-hit Pakistan for disaster relief and reconstruction.The Chinese government had previously given 120 million yuan in humanitarian relief to its neighbor, the Ministry of Commerce said in a statement on its website.Foreign Ministry spokeswoman Jiang Yu confirmed the 200-million-yuan aid on Monday evening."Chinese government has decided to provide 200 million yuan of humanitarian aid to support Pakistan," she said in a statement.As Pakistan's "close neighbor and all-weather friend," China would continue to support Pakistan's disaster relief and reconstruction efforts, said Jiang.Pakistan is still facing severe challenges in relief and reconstruction, and needs additional aid from the international community, she said.

BEIJING, Oct. 14 (Xinhua) -- The value of yuan, China's currency Renminbi, hit new high against U.S. dollar Thursday as the central parity rate of the yuan was set at 6.6582 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Thursday's central parity rate beat the previous record of 6.6693 on Oct. 13.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.