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HARARE, Feb. 9 (Xinhua) -- The two-day visit to Zimbabwe by Chinese Foreign Minister Yang Jiechi starting Thursday is an endorsement of relations between the Southern African country and China, local figures told Xinhua.Former Zimbabwean ambassador to China Chris Mutsvangwa said in an interview on Tuesday that Yang's visit will also boost economic relations between the two countries."The visit of a foreign minister is a big banner announcement to say that relations between Zimbabwe and China are reaching for a new level," he said."This is a visit which will mark a new diplomatic high watermark in Zimbabwe's international relations because to get the visit of an important and emerging super-power like China with such economic clout is a big vote of confidence on the part of Zimbabweans who have been pummeled by sanctions" imposed by the West.Yang, who will make the visit at the invitation of Zimbabwean Foreign Minister Simbarashe Mumbengegwi, is scheduled to meet President Robert Mugabe and other senior government officials.Mutsvangwa said the Chinese veto at the United Nations in 2008 was "a landmark diplomatic decision where it basically saved Zimbabwe from punitive sanctions instigated by an irate and sulky former colonial power.""So, now this visit will give an opportunity for Zimbabweans tofinally thank China for this act. But more important, cooperation in the economic field is beginning to gather pace because we have crossed the diplomatic and political travails which have been going on in the last 10 years and come out more united because the Chinese veto also enabled Zimbabweans to find accommodation among themselves and led to the GNU and GPA," Mutsvangwa said.China, together with Russia, vetoed the British initiative for full-scale UN sanctions against Zimbabwe, saying the Southern African Development Community (SADC) and the African Union (AU) should be given a chance to resolve the country's political problems.A SADC-driven initiative led to a Government of National Unity (GNU) following the signing of the Global Political Agreement (GPA) between Mugabe and then rivals Prime Minister Morgan Tsvangirai and Deputy Prime Minister Arthur Mutambara."So there is more national unity now among Zimbabweans. It is an opportune moment for us to tighten our relations with China so that we can explore cooperation in the more rewarding material areas of agriculture, mining, tourism and industrialization."There is clearly a lot of scope for cooperation between Zimbabwe and China so that Zimbabwe can quicken its modernization pace taking advantage of the stellar achievements of the Chinese in the above areas," Mutsvangwa said.He cited areas such as telecommunications, international logistics and the internet as being led by the Chinese.China Tobacco has also been on the fore-front reviving tobacco farming in Zimbabwe for the past five years.Mutsvangwa said shortages in the global cotton sector could spur better trade relations between the two countries and lead to more opportunities for Zimbabwean farmers.

BEIJING, Feb. 13 (Xinhua) -- China will impose tax on the one-off subsidy to people taking early retirement, the State Administration of Taxation (SAT) said Sunday.The SAT said the early retirement subsidy, which is not tax-free retirement income, should be imposed with personal income tax.However, the tax will be calculated after the subsidy is divided by the months between the date of the completion of retirement formalities and the corresponding legal retirement date, the SAT said.

BEIJING, Feb. 14 (Xinhuanet) -- The exchange rate against the US dollar is currently at an appropriate level but could fluctuate in the future, Yi Gang, vice-governor of the central bank and head of the State Administration of Foreign Exchange, said on Sunday."In the future, as markets fluctuate and labor productivity changes, the rate will certainly show some fluctuation," he said at a seminar. Last Thursday, the yuan's central parity rate rose to a record high of 6.5849 against the US dollar, after rising for three consecutive trading days, before declining to 6.5952 on Friday.The yuan has appreciated about 3.6 percent against the dollar since mid-June. A report from the US Treasury said earlier that on an inflation-adjusted basis, the appreciation was even higher, at an annual rate of more than 10 percent.US Federal Reserve Chairman Ben Bernanke said last Wednesday that China's recent measures to control inflation by raising interest rates is "surprising" and urged Beijing to let its currency rise in value.Currently the exchange rate is still underestimated by no more than 10 percent, said Lu Mai, secretary-general of the China Development Research Foundation (CDRF).The resilience of exporters to the rising yuan is stronger than previously estimated, which helps to pave the way for more currency reform to liberalize the yuan, he said.In 2007 and 2008, the Chinese currency rose by 7 percent annually against the US dollar, but China's GDP only declined by 0.28 percentage points, with inflation down by 0.42 points and workers' wages up by 0.07 points, according to CDRF research."The figures showed that progressive currency reform since July 2005 was successful, and the government should accelerate the reform and further free the yuan in the next five years to promote healthy, long-term economic development," Lu said.China should keep the proportion of its trade surplus to GDP within 5 percent, and avoid further increasing its huge foreign exchange reserves to allow the currency to settle at a balanced level, he said.China's foreign reserves rose to a record .85 trillion at the end of last year, an 18.7 percent increase year-on-year, according to statistics from the People's Bank of China, the central bank.Yi said he took note of the CDRF findings, but emphasized that further moves depended on both the domestic and international economic situation and appropriate timing.Lu Feng, an economist at Peking University, said now is the right time to deepen currency reform and let the yuan trade at a higher price as inflation is rising.Analysts have predicted that the yuan will appreciate this year as inflation may see the government opt for a rising yuan to lower the cost of purchasing international commodities.Lian Ping, chief economist at the Bank of Communications, predicted the yuan would rise by 5 to 7 percent in 2011.

LUQA, Malta, Feb. 26 (Xinhua) -- A chartered plane of China Eastern Airlines carrying 272 Chinese evacuees from Libya left Malta for Shanghai on Saturday.The Airbus A330-300 plane took off at 8:20 p.m. local time ( 1920 GMT) from the Malta International Airport, to be followed shortly by another chartered plane of China Eastern Airlines with 278 Chinese evacuees on board.The 550-strong Chinese nationals from a Chinese construction company were among a total of 2,216 people who arrived by a ship from violence-torn Libya at the Grand Harbor in Valletta, capital of Malta, on Saturday.In addition to the 2,216 Chinese nationals, the ship chartered by the Chinese embassy in Malta also carried dozens of citizens of other countries.The vessel, which was the first Maltese ship chartered by the Chinese government to evacuate Chinese nationals, left Libya's Benghazi on Friday.Maltese Deputy Prime Minister and Foreign Minister Tonio Borg, who went aboard the ship, expressed gratitude to the Chinese government for helping to evacuate some Maltese nationals from Libya.Chinese Ambassador to Malta Zhang Keyuan also thanked the Maltese government for its cooperation in the evacuation of Chinese nationals.A 19-day-old baby was among the evacuated Chinese, said a source with the Chinese embassy.China Eastern Airlines will fly four planes every day to the Mediterranean island nation from Feb. 28 to March 10, as part of all-round airborne evacuation missions aimed at taking stranded Chinese citizens back home as soon as possible, according to information from an emergency meeting of the Civil Aviation Administration of China (CAAC) in Beijing on Saturday.

ABU DHABI, Feb. 10 (Xinhua) -- China believes that Egypt has sufficient wisdom and capability to overcome difficulties and realize national stability and development, visiting Chinese Foreign Minister Yang Jiechi told his Egyptian counterpart in a telephone conversation Thursday.Yang, who was on a visit to the United Arab Emirates (UAE), told the Egyptian Foreign Minister Ahmed Abul Gheit that China pays close attention to the situation in Egypt, adding that Egypt, as an influential country in the Middle East, is vital to the region's stability.Egypt's internal affairs should be resolved by Egyptians themselves and should be free of outside interference, he added.Gheit briefed Yang on Egypt's situation, saying his government was taking measures to safeguard social stability and return the country to normality.Both sides also expressed satisfaction with the development of China-Egypt relations in the past year, saying the strategic cooperation between the two countries has great potential and broad development prospects.Yang arrived in the UAE capital of Abu Dhabi late Wednesday for an official visit to the Gulf nation.