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NANJING, Nov. 29 (Xinhua) -- China hopes the world's major reserve currency will maintain stable, said Chinese Premier Wen Jiabao here Sunday when meeting with three Euro Group leaders.     He was speaking with Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker, European Central Bank President Jean-Claude Trichet and European Union Economic and Monetary Affairs Commissioner Joaquin Almunia ahead of the 12th EU-China summit.     China has maintained the stability of the exchange rate of the Renminbi (RMB), making an important contribution to global financial stability and economic development, he said.     He said China will continue to enhance the flexibility of the RMB exchange rate, acting on its own initiative and in a controllable and gradual manner, and keep it basically stable at reasonable, balanced levels.     Juncker said the EU is willing to strengthen communication and coordination with China on monetary policies.

BEIJING, Oct. 29 (Xinhua) -- Equality has become a catchphrase when Chinese lawmakers mull over two major moves in the history of China's legislative progress.     Chinese rural and urban people are about to get equal representation in lawmaking bodies. It means farmers will have the same say in the country's decision-making process as urbanites.     At the five-day legislative session beginning Tuesday, members of national legislature discussed to give rural and urban people equal representation in people's congresses.     A draft amendment to the Electoral Law was tabled at the bimonthly meeting of the National People's Congress (NPC) Standing Committee. It requires that both rural and urban areas adopt the same ratio of deputies to the people's congresses.     The electoral system is the foot stone of democracy, and the principle of equality is a prerequisite to guarantee people's democratic rights.     The Electoral Law was enacted in 1953 and completely revised in1979. It then underwent four minor amendments.     Senior people are still nostalgic about the bean-counting way of electing their representatives in villages, which was the country's primitive mode of democracy after New China was founded in 1949.     Candidates who stood for election as deputies to a people's congress were elected if they received more than half of the beans.     Later voters began to use ballots.     After the last amendment in 1995, the law stipulates that each rural deputy represents a population four times that in urban areas.     That means in China, every 960,000 rural residents and every 240,000 urbanites are represented by one rural and urban NPC deputy respectively.     Critics say this can be interpreted as "farmers only enjoy a quarter of the suffrage of their urban counterparts."     During previous amendments in the 1980s, the difference was even as great as eight times.     But Li Shishi, director of the Commission for Legislative Affairs of the NPC Standing Committee, said such a provision is "in accordance with the country's political system and social conditions of that time" and is "completely necessary" as the rural population is much more than that of cities and an equal ratio of rural and urban representation will mean an excessive number of rural deputies.     Rural population made up almost 90 percent of the country's total in 1949. With the process of urbanization, the ratio of urban and rural residents was about 45.7 to 54.3 last year.     Li said that with rapid urbanization and rural economic development, the time is right for equal representation, which is conducive to "mobilizing people's enthusiasm and creativity" and the development of democracy.     Zhou Hanhua, a research fellow with the Law Institute under the Chinese Academy of Social Sciences, said the draft amendment is inline with social change, and "from the legal perspective it shows that all rights are equal under the law."     Obviously, the change will be a significant political progress and it is in line with the constitutional spirit that "everyone in the nation is equal."     It also reflects the transition of the country's urban and rural society.     According to the law, the number of deputies to the NPC is limited within 3,000, and the distribution of NPC deputies is decided by the NPC Standing Committee, the top legislature.     The draft amendment says the quotas of NPC deputies are distributed to 31 provinces, municipalities and autonomous regions on the basis of their population, which ensures equal representation among regions and ethnic groups.     Another big issue that lawmakers deliberate at the session this week is to grant "equal compensation" to the victims of traffic, mining and industrial accidents as well as medical negligence, among others, regardless of the victims' identity, status, income and regional disparity.     The proposal is specified in the draft on tort liability, which is deliberated by members of the NPC Standing Committee for the third time.     Farmer victims normally get much less compensation than their urban counterparts. And there are often disputes from "different prices paid to different lives."     At the session, lawmakers consider to set the same compensation for all victims of an accident that results in many deaths.     It will be a significant step if the draft law on tort liability is adopted by the legislature, as it ensures equal rights for each Chinese and shows respect for every human life.

BEIJING, Nov. 18 (Xinhua) -- Chinese Premier Wen Jiabao will meet here Wednesday with US President Barack Obama, who is on his first state visit to China since his January inauguration.     They will have a working lunch before Obama's sightseeing visit to the Great Wall in the north suburb of the Chinese capital, which will be another chance for the US head of state, who toured the Imperial Palace Tuesday, to learn more about the ancient Chinese civilization.     Obama will conclude his fist visit to China and fly to the Republic of Korea, the last leg of his four-state Asian tour, in the afternoon.     He arrived in China's economic hub Shanghai Sunday night to kick off this visit as guest of his Chinese counterpart Hu Jintao.     Hu held talks with him in Beijing on Tuesday and they met international reporters for about 40 minutes after the talks, both pledging to further bilateral ties.     Top Chinese legislator Wu Bangguo also met Obama on Tuesday, several hours before a state banquet in the Great Hall of the People in downtown Beijing.     In a joint statement issued on Tuesday, the two sides spoke highly of the tremendous development achieved since the two countries established diplomatic relations 30 years ago and reached consensus on further bilateral ties. 

PORT MORESBY, Papua New Guinea, Nov. 3 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday discussed bilateral relations and other issues of common concern with Papua New Guinean Prime Minister Michael Thomas Somare. Li said Papua New Guinea, as the largest developing country in the South Pacific, has great influence over regional issues.     He said China attaches great importance to bilateral ties with the Pacific island nation, which China has always regarded as a reliable friend and partner.     In recent years, Li said, the two countries have conducted frequent high-level exchanges, deepened political mutual trust, broadened exchanges and cooperation in an extensive number of sectors. Chinese Vice Premier Li Keqiang (R) shakes hands with Papua New Guinean Prime Minister Michael Thomas Somare in Port Moresby, Papua New Guinea, Oct. 3, 2009.    The two countries also have maintained good communication and coordination in multilateral affairs, Li said.     China appreciates the Papua New Guinean government's adherence to the one-China policy, Li said.     He said China is willing to work with Papua New Guinea to put into practice all of the important agreements reached by leaders from both countries, promote exchanges on various levels and explore the potential for economic and trade cooperation.     The vice premier said China has always been supportive of Papua New Guinea's social and economic progress, and would continue to provide assistance to the best of its ability.     Somare, on his part, said his government cherishes its cooperative relationship with China and that the past 33 years have witnessed marked development of the relationship.     He said, as the country's sixth largest trading partner, China has played an active and significant role in promoting Papua New Guinea's social and economical development.     During the talks, Somare reaffirmed his country's continued adherence to the one-China policy.     Li said China and Papua New Guinea have economies that are complementary to each other's and there is huge potential for cooperation.     Two-way trade totaled 860 million U.S. dollars in 2008.     The vice premier said China will continue to encourage more of its enterprises to invest in Papua New Guinea. Both countries, he said, should broaden their areas of cooperation to agriculture, manufacturing and high-tech, apart from energy and resources.     Somare said Papua New Guinea would like to strengthen cooperation with China in trade, investment, agriculture, infrastructure, manufacturing, education and healthcare.     He also said the preferential loans China has provided to Pacific island nations over the past three years have greatly helped the overall economic and social development of these nations.     Li arrived here on Tuesday on an official visit to Papua New Guinea, the last leg of his three-nation tour. Ha has already visited Australia and New Zealand.

BEIJING, Dec. 12 (Xinhua) -- China should take more forward looking and preemptive measures to fight inflation expectations following this year's credit boom and runaway property prices, said a report released by a leading Chinese bank.     Bank loans should be extended at a more reasonable pace with improved structures next year and policy fine-tuning is necessary, the Bank of Communications has said in a report released by its financial research center.     The government should maintain the continuity and stability of its monetary policy and meanwhile be more targeted and flexible, it said.     The report noted an over brisk equity and property market are always prelude of inflation. Money flow should be regulated to prevent asset bubbles.     It also suggested government increase supply of land resources and affordable housing and crack down on land enclosure to curb skyrocketing property prices which gained the most in 14 months in November.     CPI, the main gauge of inflation, jumped 0.6 percent in November from a year ago, the first monthly growth since January, because of lower statistical bases and rising food prices.     The producer price index (PPI), a major measure of inflation at the wholesale level, declined 2.1 percent in November from a year earlier.     The report expected PPI to end monthly drop in December, and the annual CPI decline to narrow to 0.8 percent.     Hyperinflation is unlikely and CPI is predicted to rise four percent next year, it said.