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BEIJING, Aug. 27 (Xinhua) -- The United States has repeatedly blocked investment from Chinese companies on national security grounds, a protectionist move that will only harm its own interests, analysts say.Eight U.S. congressmen recently asked the Obama administration to scrutinize a deal between Chinese telecom equipment giant Huawei and the American operator Sprint Nextel on national security grounds.It was not the first time Huawei's attempts to break into the U.S. market have been stymied. Earlier its buyout attempt of 3Com was summarily dismissed by the U.S. government.Citing national security concerns again, a bipartisan group of 50 lawmakers in July requested that the government investigate an investment project of China's Anshan Iron and Steel Group (Ansteel), China's fourth largest steelmaker, which plans to establish a joint rebar venture with a U.S. partner in Mississippi."It is inappropriate for some U.S. lawmakers to label regular business behavior as a move that threatens national security," Yao Jian, a spokesman for the Ministry of Commerce, recently said about Ansteel's investment plan."I hope the United States can create a better investment environment for Chinese enterprises," he said.Chinese analysts said the actions were sheer protectionism, adding that national security concerns is only a lame excuse by U.S. authorities, whose true intention is to protect the interests of domestic enterprises and industries.Moreover, standing up to China's allegedly unfair trade practices can easily earn the congressmen much needed political chips in the upcoming mid-term election in November, the analysts said.The setback that Huawei and Ansteel suffered is only the tip of the iceberg. Actually, blocking investment from Chinese companies in the name of national security has morphed into a knee-jerk reaction that could only harm America's own interests.Emcore Corporation, a U.S. fiber optics producer, announced in late June that it has abandoned a joint venture in partnership with China's Tangshan Caofeidian Investment Corporation because the Committee on Foreign Investment in the United States "has certain regulatory concerns about the transaction."

GUANGZHOU, Sept. 22 (Xinhua) -- Floods and landslides due to heavy downpours brought by typhoon Fanapi have claimed 33 lives in south China's Guangdong Province, while another 42 remain missing, local authorities said Wednesday.Meanwhile, more than 1 million people were affected and 78,400 people in low-lying areas were forced to be evacuated, the provincial flood control headquarters said in a statement.In addition, rainstorms and and geological disasters have destroyed more than 1,400 homes and inundated more than 30,000 hectares of cropland, the statement said.Direct economic losses were estimated at about 2 billion yuan (300 million yuan), it said.Some areas in Guangdong reported precipitation of over 640 mm in 24 hours, it said.Typhoon Fanapi, the 11th and strongest typhoon to hit China this year, landed in Fujian Province at 7 a.m. Monday, but wreaked most havoc in Guangdong, which neighbors Fujian on the south.No casualties have been reported in Fujian.

BEIJING, Oct. 12 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), dropped 43 basis points Tuesday to 6.6775 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Tuesday's central parity, the Chinese currency has strengthened against the U.S. dollar by 2.19 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 9.2574 Tuesday, higher from 9.3215 on Oct. 11, the previous trading day.The yuan's rate against 100 yen was 8.124 Tuesday, compared with 8.1276 on Monday.The yuan's rate against the British pound was 10.6042, compared with 10.6311 on the previous trading day.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.

BEIJING, Oct. 28 (Xinhua) -- China's top legislature on Thursday ended its bimonthly session, adopting a series of bills including the long-awaited social insurance law that had been reviewed by lawmakers four times in almost three years.The law that aims to prevent the improper use of social security funds was first submitted to the legislature in December, 2007, following a scandal in Shanghai involving 3.7 billion yuan (502.3 million U.S. dollars) of social security funds.The law is to take effect on July 1, 2011.In a proposal made by the Communist Party of China (CPC) Central Committee on formulating the country's 12th Five-Year Program (2011-2015) on National Economic and Social Development issued Wednesday, the social security system is set to be improved.The National People's Congress (NPC) Standing Committee also voted to adopt the law on law application to civil relationships involving foreign interests, and the revised Organic Law of Villagers' Committees, regarding rural people having greater powers to remove villagers' committee members and to convene meetings to decide village affairs.Also adopted at the close of this legislative session were the amendments to the Law on Deputies to the NPC and Local People's Congresses at Various Levels, which further specify the rights and duties of lawmakers.Lawmakers also adopted a decision to appoint Vice President Xi Jinping as vice-chairman of the Central Military Commission (CMC) of the People's Republic of China.Born in 1953, Xi was appointed by the CPC Central Committee on Oct. 18 as vice-chairman of the CMC of the party.Xi has served in a number of positions related to the armed forces and military reserve affairs during his previous tenures at national and local levels.The top legislature also expelled Li Qihong, former deputy secretary of Zhongshan Municipal Committee of the Communist Party of China in southern Guangdong Province and former mayor of Zhongshan City, from the top legislature on suspicion of "seriously violating disciplines" concerning economic activities.

BEIJING, Sept. 6 (Xinhua) -- Chinese top political advisor Jia Qinglin on Monday met with nearly 60 foreign political leaders and scholars on the eve of a forum to discuss global trends and common challenges.The forum will take place in Beijing on Tuesday and Wednesday and is organized by the National Committee of the Chinese People's Political Consultative Conference (CPPCC),the country's top advisory body.The forum's theme for its fourth conference is "new era, new challenges, new vision -- building a future for all.""It is significant for the 21st Century Forum to hold a conference on the global situation, challenges and visions," Jia, chairman of the CPPCC National Committee, said.More than 100 officials, scholars and business executives from home and abroad will attend the two-day conference of the 21st Century Forum.As the world has been undergoing deep changes, transformation and adjustment, it is imperative for all countries to be interdependent, reform the international financial system and build a justifiable and reasonable world order, Jia told the foreign attendees to the forum.Among the foreign attendees are some well-known dignitaries, including former Nigerian President Olusegun Obasanjo, former European Commission President Romano Prodi, former Australian Prime Minister John Howard, former Russian Prime Minister Evgeni Primakov, former German Chancellor Gerhard Schroeder and former Japanese Prime Minister Yasuo Fukuda.Jia briefed foreign leaders on China's economic and social development, stressing China remained the world's biggest developing country despite its economic boom."It will take China decades of unremitting efforts to accomplish modernization," Jia said, adding China would adhere to the path of socialism with Chinese characteristics.Jia said China would continue to pursue peaceful development and develop friendly cooperation with all countries in accordance with its independent foreign policy.Jia reaffirmed China's efforts to play its due part in dealing with global challenges and contributing to world peace and development.Nigerian President Olusegun Obasanjo called for all countries to pursue a path of cooperation and common prosperity.After the meeting, Jia also hosted a welcome banquet for forum attendees.The 21st Century Forum convened its first conference in 1996. The purpose of the forum is to serve as a platform for leaders, scholars and experts from China and other countries to explore global trends and crucial issues of common interest to mankind in the 21st century. 

来源：资阳报