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BEIJING, June 21 (Xinhua) -- China's announcement that it would allow more flexibility in its yuan exchange rate meant an end to the crisis-mode policy the government took to cushion the blow from the global financial crisis, experts interviewed by Xinhua said Monday.The People's Bank of China, also known as the central bank, said Saturday that it decided to proceed even further with the reform of the Renminbi exchange rate to add flexibility to the RMB exchange rate.The decision was made in view of the recent economic situation and financial market developments at home and abroad, as well as due to the balance of payments situation in China, the central bank said. However, it ruled out a one-off revaluation of the yuan as there was no basis for large changes in its value.Experts noted it was the correct time for the exchange rate policy to return to its normal state, given the consolidated economic recovery, large decline in trade surplus and more balanced international payments.Zhao Xijun, deputy dean of the School of Finance with the Renmin University of China, said the normalization of China's exchange rate policy would intensify China's economic connection to the global economy and help promote the country's economic restructuring and adjustments of its development mode.China moved to a managed floating exchange rate regime in July 2005 which was based on market supply and demand and referencing a basket of currencies. The reform of the RMB exchange rate has made continuous progress since then, producing the anticipated results and playing a positive role.The financial crisis which broke out in the United States in 2008 shook the global financial markets and dented investment confidence. To counter fallout from the economic turmoil, nations rolled out their crisis-mode measures.Zhou Xiaochuan, governor of the central bank, said in March that the exchange rate policy China took amid the crisis was part of the government's stimulus packages, and would exit "sooner or later" along with other crisis-measures.China's economy expanded at 11.9 percent year on year in the first quarter of this year and exports surged 48.5 percent in May, government data showed.Zhao said China narrowed fluctuation of the RMB exchange rate to stabilize market sentiment and stimulate economic growth amid crisis, which was in the interests of China and contributed to the country's economic recovery.During the worst of the global crisis, exchange rates of a number of sovereign currencies to the U.S. dollar depreciated by large margins while the yuan kept stable. Against these depreciating currencies, the value of the yuan has been rising."Undoubtedly, it improved the trade environment for these countries and helped them through hard times," Zhao said, noting the policy contributed significantly to the Asian and global recovery."Narrowing the fluctuation of the yuan's value was the best exchange rate policy China could take during the crisis period, which gave export businesses a stable expectation of the yuan's value and reduced costs caused by a volatile currency," said Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University of China.The central bank's move also intended to increase competitiveness of export businesses and accelerate economic restructuring.Zhao said when the RMB exchange rate regime becomes more market-oriented, China's export businesses should take more responsibilities and become more self-reliant.The central bank said Sunday that the management and adjustment of the yuan exchange rate would occur gradually, which was necessary to give export businesses time to adjust their business structures and create more jobs in the service sector.Cao Honghui, senior researcher with the Institute of Finance and Banking under the Chinese Academy of Social Sciences, said the further proceeding meant China would rely more on domestic demands for economic growth, which would push forward adjustments of the global economic structure.The central parity of the Renminbi against the U.S. dollar remained at 6.8275 Monday, unchanged from the previous trading day, according to the China foreign Exchange Trading System.

BEIJING, June 16 (Xinhua) -- The fifth chartered flight sent by the Chinese government brought 185 more nationals back home from Kyrgyzstan on Wednesday morning, sources with the Foreign Ministry said.The flight arrived at an airport in Urumqi, capital of northwestern Xinjiang Uygur Autonomous Region, at 7:17 a.m. (Beijing time) from Osh of Kyrgyzstan, where ethnic clashes have left some 170 people dead. Chinese nationals prepare to board the chartered flight at an airport in Osh, southern Kyrgyzstan, June 15, 2010.The Chinese government has sent five chartered planes to bring home nationals including business people and students in Kyrgyzstan. So far 754 Chinese nationals have been taken home.More chartered planes are to be sent to take Chinese nationals back home, according to the ministry.

TASHKENT, June 11 (Xinhua) -- The Shanghai Cooperation Organization (SCO) 10th annual summit ended here Friday with a declaration pledging to build an effective and open multilateral organization dedicated to regional peace, stability and prosperity.REGIONAL PEACE, STABILITY, PROSPERITYParticipants from the six SCO member countries -- China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan -- discussed key regional and global issues at the gathering.The declaration pledged to strengthen mutual support on issues relating to each other's core interests, boost cooperation in the combat against terrorism, separatism and extremism and other destabilizing factors, enhance cooperation in overcoming the aftermath of the global financial crisis and develop infrastructure in the region.The SCO had developed into a highly efficient and open multilateral organization and was an important factor in international and regional security and cooperation structures, the declaration said.The organization will stick to its practice of shunning ideological means, cliquing or confrontation in efforts to settle major problems emerging in the process of international and regional development.

BEIJING, July 15 (Xinhua) -- At least 135 people had been confirmed dead and 41 are missing, as some of the worst flooding in years continues in south China.By 4 p.m. Thursday, close to 35.5 million people in 10 southern provinces and Chongqing Municipality had been affected by continuous rainstorms and floods since July 1, the Civil Affairs Ministry said in a notice on its website.About 113,000 homes were destroyed and more than 1.2 million people had been relocated, it said.Direct economic losses were estimated at about 26 billion yuan (3.8 billion U.S. dollars), up from Wednesday's 22.2 billion yuan.In Jiangxi Province alone, at least eight people have died since July 8, and direct economic losses have amounted to more than 2.9 billion yuan.The ministry had dispatched work groups to Jiangxi to direct relief work.The Office of State Flood Control and Drought Relief Headquarters announced earlier Thursday that floods had killed 594 people in 26 provinces since the beginning of the year. Another 212 people were missing.Direct economic losses cause by the floods totaled 120.2 billion yuan, the office said, adding that 97.5 million people and 6.16 million hectares of farmland were affected.In Hubei Province, continuous downpours and rain-triggered floods since July 3 have left 32 people dead and two missing.Heavy rainfall has raised water levels in many rivers in the middle and lower reaches of Yangtze River, China's longest, and a new round of rainstorm is expected to pelt the river course soon, bringing possibility of serious floods.The river's Three Gorges Dam raised the speed of water discharge Thursday afternoon to save space for the upcoming gushing flooding waters.

YICHUN, Aug. 26 (Xinhua) -- Two days after the deadliest commercial plane crash in China in nearly six years killed 42 people in a remote northeastern city, doubts and speculations continue to swirl and no progress has been reported in the government investigation.A brief press conference was held Thursday afternoon -- the first in more than 40 hours after a Brazil-made ERJ-190 turbine jet run by Henan Airlines crashed at Lindu Airport of Yichun, Heilongjiang Province.But officials and an airline executive who addressed the conference did not say what caused the accident or whether their data analysis of the two black boxes found on Wednesday had achieved any results."The black boxes have been sent to Beijing and our specialists are still working on the data," said Lu Xue'er, an official in charge of aviation safety at the General Administration of Civil Aviation (CAAC).A representative from Henan Airlines offered an apology and condolences to the victims and their families."We're grieved over the tragedy," said Liu Hang, Chairman of the Supervisory Board the airline. "Our condolences for the dead and apologies to all the victims, their families and the whole society."He said his company had opened 24-hour hotlines at its headquarters in Zhengzhou, central Henan Province, Harbin and Yichun to help victims' f

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