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BEIJING, Jan. 25 (Xinhua) -- The central parity rate of yuan, the Chinese currency, Tuesday gained 2 points to 6.5881 against the U.S. dollar, according to the China Foreign Exchange Trading System.China's central bank announced in June 2010 it would further reform the exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

BEIJING, Feb. 5 (Xinhua) -- Lending to China's small and medium-sized enterprises (SMEs) rose faster than loans to large enterprises last year, according to the People's Bank of China (PBOC), the central bank.Outstanding loans to small enterprises by banks and financial institutions jumped 29.3 percent year on year to 7.55 trillion yuan (1.15 trillion U.S. dollars) in 2010, while loans to medium-sized enterprises stood at 10.13 trillion yuan, up 17.8 percent, said the PBOC.Outstanding loans to large enterprises rose 13.3 percent to 13.42 trillion yuan, highlighting the government's efforts to optimize the loan structure, the PBOC said.About 99 percent of Chinese enterprises are SMEs which contribute 60 percent of the country's gross domestic product.Financing has long been difficult for Chinese SMEs as banks prefer to lend to big companies, particularly reputable state-owned enterprises.The government has moved to help SMEs get finance by differentiating the reserve requirement ratio for the Rural Credit Cooperative, the major lender to SMEs, and encouraging innovation in SME bond issuance.In July last year, the PBOC asked financial institutions to establish independent criteria for approving loans to SMEs and to improve efficiency in processing SME loan applications.The PBOC said SME loan growth would continue to accelerate this year.

HOUSTON, May 2 (Xinhua) -- The Offshore Techonology Conference, one of the world's largest offshore technology shows, kicked off here Monday.The five-day event, which attracted an estimated 72,000 victors from all around the world, not only provided a platform for the about 2,400 participating companies from 40 countries to lure visitors with their newest products and technologies, but also for the them to share insights and discuss issues the industry is facing.On Monday, a number of companies, including Halliburton and Baker Hughes, received the Spotlight on New Technology Award by the OTC for their new products and solutions.Founded in 1969, the annual Offshore Technology Conference is the world's foremost event for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection. OTC is held annually at Reliant Center in Houston.

WASHINGTON, Feb. 4 (Xinhua) -- Major trading partners of the United States, including China, did not manipulate their currencies to gain an unfair advantage in international trade in 2010, according to a report released by the U.S Treasury Department on Friday."Based on the resumption of exchange rate flexibility last June and the acceleration of the pace of real bilateral appreciation over the past few months," China's behavior did not qualify under the official definition of manipulation, the Treasury said in its long-delayed semiannual report to the Congress on International Economic and Exchange Rate Policies.With respect to exchange rate policies, ten economies were reviewed in this report, accounting for nearly three-fourths of U. S. trade. Many of the economies have fully flexible exchange rates. A few have more tightly managed exchanges rates, with varying degrees of management."No major trading partners of the United States" met the standards identified by the Congress as currency manipulator, concluded the report.Since the June 19, 2010 announcement by China's central bank of greater exchange rate flexibility, its currency, also known as renminbi (RMB) has appreciated 3.7 percent against the dollar, or about 6 percent annualized. The renminbi has appreciated 26 percent in total against the dollar since 2005.The Treasury said that because inflation in China is significantly higher than it is in the U.S., the RMB has been appreciating more rapidly against the dollar on a real, inflation- adjusted basis, at a rate which if sustained would amount to more than 10 percent per year.The U.S. accuses Beijing of keeping its currency undervalued, flooding the country with cheap exports and costing U.S. jobs. But many economists believe that the appreciation of RMB will help little to the U.S. employment."Treasury today again made the right call on China's currency policy in its latest exchange rate report," John Frisbie, President of the U.S.-China Business Council (USCBC) said in a statement after the U.S. Treasury Department'report."While USCBC believes that China should allow its exchange rate to better reflect market forces, designating China as a ' manipulator' would achieve nothing. USCBC continues to support the Obama administration's approach of combined multilateral and bilateral engagement with China as the most effective way to make progress on the exchange rate issue."

ADDIS ABABA, Jan. 28 (Xinhua) -- The on-going political crisis in Cote d’Ivoire should be and can be solved peacefully, Chinese Envoy and Assistant Foreign Minister Liu Zhenmin told Xinhua here on Friday, ahead of the 16th African Union (AU) summit scheduled for Jan. 30-31.Liu was in the Ethiopian capital Addis Ababa, the headquarters of the 53-member African bloc, to attend the summit as special envoy of the Chinese government.Cote d'Ivoire has been trapped in a political impasse since the landmark presidential run-off held on Nov. 28. Both incumbent Laurent Gbagbo and opposition leader Alassane Ouattara claimed victory and swore themselves in as president, and formed their respective government.Gbagbo was backed by the country's Constitutional Council, while Ouattara has the support of the electoral commission and the international community including the United Nations (UN), the AU, the Economic Community of West African States (ECOWAS), the United States and France.China hopes various parties and stakeholders in Cote d’Ivoire can resolve their disputes through dialogues and consultations based on the interest of the country and its people, and maintain peace and stability, Liu said.A peaceful solution to the crisis is not only in the interests of the Ivorian people, but of the West African region as a whole, according to Liu.China appreciates the efforts made by the AU and ECOWAS to find a peaceful solution to the crisis, and will continue supporting Africa’s efforts to resolve the crisis peacefully, Liu said.According to the UN, more than 200 people have died from violence during the power struggle between Gbagbo and Ouattara.The 16th AU summit, to be held under the theme “Towards Great Unity and Integration Through Shared Values,” will gather heads of states and government from member states to discuss issues including Africa’s integration, and peace and security in the continent. The situation in Cote d’Ivoire, among others, is expected to top the agenda of the summit.