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BEIJING, Nov. 20 (Xinhua) -- China-U.S. relationship that by large was entering a period where our focus would be more and more on global issues, said U.S. Ambassador to China Jon Huntsman on Friday.     Huntsman made the remarks at the Forum for America/China Exchange at Stanford (FACES) in Peking University, a top university in China.     "Obama arrived and found what he had hoped for," he said relating to the U.S. President's just concluded China visit after reviewing the bilateral link chronicle.     U.S. and China could strengthen cooperation in areas including military, people to people exchanges, climate change, clean energy and economic crisis, Huntsman told the delegates attending the forum.     He said the U.S.-China relationship was so "large and complicated" that managers of the relations should "take the areas of commonality" and "realize and speak open" about the disagreements.     Huntsman, who once lived in Taiwan and could speak Chinese called Chinese the "21st century language", saying diplomacy is ineffective without "investing a generation of professionals willing to invest their careers in turn in language, culture, regional studies."     FACES, a forum held in Beijing from Nov.15-20, gathered more than forty students from China and the U.S to discuss political, social, economic and cultural issues.

BEIJING, Oct. 26 -- Delegations from more than 84 countries and regions will participate the ITD conference Monday, and a host of international experts from governments, the private sector and academia will make presentations and lead discussions on this important topic.     The ITD is a cooperative venture formed in 2002 and comprised of the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank, the European Commission and the UK Department for International Development.     Its purpose is to foster dialogue on important topics in tax policy and administration and to function as a disseminator and repository of information on matters of interest in taxation around the world, through its website, www.itdweb.org.     The IMF attaches great importance to its role as a founding member of the ITD. Recent events in the world economy have made even clearer the necessity of international cooperation and sharing experience in economic matters, and this is the very purpose, which the ITD serves.     The topic of this conference is a timely and critical one. The world has been reminded recently and forcefully of the great importance of the financial sector for macroeconomic stability, growth, and development goals. The sector plays a critical intermediating function - without it credit could not exist, capital could not be channeled to useful purposes and risks could not be managed.     The conference will take place against the background of the worst financial and economic crisis to strike the world in three generations, and, while taxation was not itself the cause of the crisis, elements of the tax system are relevant to its background and resolution.     Most tax systems embody incentives for corporations, financial institutions and in some cases individuals to use debt rather than equity finance.     This is likely to have contributed to the crisis by leading to higher levels of debt than would otherwise have existed - even though there were no obvious tax changes that would explain rapid increases in debt. Tax distortions may also have encouraged the development of complex and opaque financial instruments and structures, including through extensive use of low-tax jurisdictions - which in turn contributed to the difficulty of identifying true levels of risk.     The magnitude of the fiscal challenges facing the world economy is greater than at any other time since World War II.     Estimates done by IMF staff on the fiscal adjustment necessary to bring government debt-to-GDP ratios down to 60 percent by 2030 - over 20 years hence - show a gap in the cyclically adjusted primary balances of some 8 percentage points of GDP in advanced economies to be closed between 2010 and 2020.     This cannot all be accomplished by expenditure reduction. New, or increased, sources of revenue will need to be found, on average perhaps 3 percentage points of GDP. While improvements in compliance and administration could account for some of that gap, it will be necessary to adjust tax policies to a degree not hitherto seen on a wide scale.     Although the world economy remains weak with downside risks and much hardship remain, signs of improvement are thankfully now visible.     This is an opportune juncture, therefore, to begin the work of planning countries' exits from the deteriorated fiscal positions developed in response to the crisis, and to give thought to questions raised by the performance of the financial sector in triggering the crisis.     What role can better tax policies and administration play in preventing a recurrence of this costly episode in economic history?     The financial sector has been, and must continue to be, a critical link in the development of the world's economies. The sector has played a key role in accelerating the development of the emerging markets - many of which, prior to this most recent episode, had grown able to tap the world's financial resources at an increasing rate unparalleled in history.     And for the world's most vulnerable economies, continued financial deepening will be absolutely necessary to permit them to meet their development goals. The upcoming conference will consider the role of taxation in both the industrial and developing countries with respect to these goals.     The conference will address not only the role of the financial sector as a source of revenue itself, and its broader role in the development and growth of the world economy, but also its function in assisting in administration of the tax system-through information reporting, collection of tax payments, and withholding.     This latter role will become ever more important with growing international cooperation in fighting tax evasion and avoidance.     Finally, we must not lose sight of the main function of the tax system - to raise revenue in an economically efficient, non-distortionary, and administratively feasible manner.     Even fully recognizing the existence of both market failures and policy-induced vulnerabilities, including those that contributed to this crisis, it is important to avoid accidentally introducing distortions through the tax system that may prove worse than the evils they are intended to remedy.     "Neutrality" of taxation of the financial sector in this sense is a benchmark against which deviations from this objective may be measured and judged.     One must ask whether any proposed interventions are targeted at a recognized externality or existing distortion, and, if so, whether the proposed action is the most appropriate response. And the multilateral institutions, in particular, must look to the effects which the financial sector and its taxation may have not only on the world's highly developed economies-those with the greatest depth of financial intermediation-but at the effects, direct and indirect, on the world's developing nations.     International cooperation on these matters will be critical to making improvements that will benefit all of us. This week's important event, hosted by the Chinese government and organized by the ITD, is itself a model in this regard.

BEIJING, Nov. 14 (Xinhua) -- China's top legislator Wu Bangguo has urged northwest China's Gansu Province to blaze a new trail of development in the western region to realize sound and fast economic and social development.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), made the call when he was inspecting Gansu Province from Nov. 9 to 14. Wu Bangguo (2nd R front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), inspects the Jiuquan Iron and Steel Group in Jiayuguan city of northwest China's Gansu Province, Nov. 11, 2009. Wu Bangguo made a five-day inspection tour in Gansu Province ending Saturday.Wu called for appropriately handling the relationship among maintaining economic development, restructuring and sustainable development.     He urged the province to do a good job in upgrading structure and improving people's livelihoods while maintaining a steady and relatively fast economic development.     During his inspection, Wu also called on metallurgical and petrochemical enterprises to take full use of the resources and carry out a new round of technological update focusing on energy conservation and cost reduction. Wu Bangguo (3rd L front), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the Standing Committee of the National People's Congress (NPC), inspects the Hua Tian Microelectronics Group in Tianshui city of northwest China's Gansu Province, Nov. 11, 2009. Wu Bangguo made a five-day inspection tour in Gansu Province ending Saturday.Wu said that development of new energy and clean energy, including wind power, solar power and nuclear power, would become new points of economic growth. They are also important measures in addressing climate change and guaranteeing energy security, he added.     In addition, Wu stressed that importance should be attached to affairs concerning people's livelihoods, social undertakings, consolidating ethnic unity and promoting social stability.

COPENHAGEN, Dec. 16 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Wednesday evening for the ongoing UN Climate Change Conference.     Wen told reporters aboard his special plane that his attendance at the meeting aims to show the great importance the Chinese government and people attach to climate change and to assert their sincerity and determination to work with the international community to meet this global challenge. Chinese Premier Wen Jiabao (3rd, L) signs his autograph on the comment book of honored guests after he arrives at Copenhagen, capital of Denmark , on Dec. 16, 2009. Wen Jiabao arrived here Wednesday evening for the ongoing UN Climate Change Conference. The Copenhagen climate conference is now in its final and critical stage, Wen said, adding that he will closely communicate and coordinate with various parties and deliver a speech outlining China's stance on climate change.     "I hope the meeting, with joint efforts made by various parties, will yield fair, reasonable, balanced and achievable results," he said.     During his stay in the Danish capital, Wen is scheduled to meet with some foreign leaders on the sidelines of the climate summit.     "Wen's trip to Copenhagen will inject a new momentum into the climate change talks and exert positive and important impacts for future international cooperation," Chinese Deputy Foreign Minister Wang Guangya told a press conference on Dec. 10.     The UN Climate Change Conference, which opened on Dec. 7, is to end Friday in Copenhagen. It aims to map out a comprehensive international arrangement for the fight against climate change over the period 2012-2020.

BEIJING, Nov. 13 (Xinhua) -- China should keep home prices from long time "abnormal increases" and divert profits made from home price hikes to the public through taxation, a senior property official said here Friday.     Dong Zuoji, director of land planning department of the Ministry of Land and Resources, said home prices would continue to rise as the land in the world's fastest-growing economy is becoming increasingly scarce, but the government should use taxes to give the added value of the land back to society.     "China hasn't seen overcapacity in real estate sector on the whole, otherwise home prices wouldn't have gained so much," he said while attending a meeting held in Beijing.     Dong said the government would increase land supply for subsidized homes and adopt measures to prevent developers from hoarding land.     The government would also guarantee land use for high-tech, high added-value enterprises while limiting that of backward production projects.     Due to a series of supportive measures adopted by the government, China's property sector rebounded strongly this year. Home prices in 70 large and medium-sized cities rose for the eight straight month in October.     Average house price in Beijing surged 43.7 percent in July from that of January, to 14,500 yuan per square meter, Golden Keys, a property agent said on July 17.