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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.
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."
LIMA, May 5 (Xinhua) -- A total of 53.5 million people in Latin America and the Caribbean suffer from hunger or malnutrition, experts said at an international forum here Thursday.Juan Garcia, coordinator of the 5th work-group meeting of the Latin American and Caribbean Initiative Without Hunger, said the figure has not increased since 1990.Experts and officials from 13 countries gathered to discuss the challenges facing regional food security and advances that have been made, hoping to make cooperative efforts to eradicate hunger and malnutrition by the year 2025.Carcia said people affected most across the continent are still those living in rural areas as well as African descendants and indigenous people who suffer from "exclusion and inequality."The main cause of undernutrition is not lack of food-production capacity, but access to food, Carcia said.Six countries, Brazil, Ecuador, Venezuela, Guatemala, Honduras and Nicaragua, have approved food security laws with nine more in the process of doing so. The laws are considered as a way to ensure that local agricultural products are primarily used to feed the countries' own populations and not used for export.
BEIJING, April 14 (Xinhuanet) -- Computer sales declined in the first three months of this year for the first time since 2009 worldwide.PC sales fell 1.1 percent in the first quarter to 84.3 million worldwide, according to tech research firm Gartner Wednesday, well short of its forecast for 3 percent growth.The dip was the first since the second quarter of 2009, when most of the world was still in the grip of economic turmoil."Although the first quarter is traditionally a slow one for PC sales, these shipment results indicate potential sluggishness, not just a normal seasonal slowdown," said Gartner, in a statement.Consumers select IT products at an IT fair named "Sham Shui Po computer festival" in Hong Kong, south China, Feb. 15, 2011. The eight-day IT fair kicked off here Monday. Some 600,000 people are predicted to visit the fair.Weak demand for consumer PCs was the biggest drag on the market, according to Gartner principal analyst Mikako Kitagawa."Low prices for consumer PCs, which had long stimulated growth, no longer attracted buyers," Kitagawa said."Instead, consumers turned their attention to media tablets and other consumer electronics."After Apple's second-generation iPad was released in February, many consumers either switched allegiances or simply held back from buying PCs, according to the analyst.Japan was a particularly weak spot, with PC sales falling 13 percent in the quarter, as people focused on getting back to normal after the March 11 earthquake and tsunami rather than spending money on new technology.
BEIJING, March 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, auctioned 50 billion yuan (7.61 billion U.S. dollars) of three-month bills at a yield of 2.7944 percent on Thursday, temporarily easing speculation of an approaching interest rate hike.The yield on three-month bills stood unchanged from last week at 2.7944 percent.Also, PBOC sold 60 billion yuan (9.13 billion U.S. dollars) worth of 91-day repurchase agreements to banks on Thursday with a yield of 2.8 percent.Offsetting the 181 billion yuan (27.55 billion U.S. dollars) of bills and repurchase agreements that matured, PBOC took 49 billion yuan (7.46 billion U.S. dollars) of liquidity out of the money market this week through open market operations on Tuesday and Thursday.Market analysts have been watching PBOC's open market operations closely this week as the yield of its one-year bill sold on Tuesday exceeded the benchmark interest rate of one-year deposits, which some analysts interpret as a reason for an imminent interest rate hike.Chen Lan, an analyst with Guotai Junan Securities, said higher yields on central bank bills would boost PBOC's ability to absorb liquidity from the market amidst the country's economic tightening efforts."But the hike of interest rates is not an imminent task for the central bank amid the slowdown of China's industrial investment in February, which weakened consumer confidence, and economic uncertainty overseas," Chen said.China's industrial value-added output grew 14.1 percent in the first two months of this year, the National Bureau of Statistics (NBS) announced on Friday.The growth rate during the first two months was up by 0.6 percentage points compared to that in December of last year, according to figures released by the NBS.Chen predicted that PBOC will reduce its frequency to raise banks' reserve requirement ratio in coming months but said the rate hike expectation would continue this year as the government is hoping to curb the red hot property market and soaring inflation.China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, adding more monetary tightening pressure to the government.