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BEIJING, March 3 (Xinhua) -- Chinese President Hu Jintao on Wednesday accepted credentials presented respectively by the ambassadors to China from Barbados, Britain, Bosnia and Herzegovina, Macedonia and the Philippines.The five new ambassadors are Lloyd Erskine Sandiford from Barbados, Sebastian Wood from Britain, Amel Kovacevic from Bosnia and Herzegovina, Oliver Shambevski from Macedonia, and Francisco L. Benedicto from the Philippines.
BEIJING, March 12 (Xinhua) -- China's central bank said Friday a stronger yuan offers no help for solving the Sino-U.S. trade imbalance problem, and China opposes politicizing yuan's appreciation.Su Ning, vice governor of the People's Bank of China, made the comments a day after U.S. President Barack Obama told the U.S. Export-Import Bank's annual conference that a more market-oriented exchange rate of yuan will make an essential contribution to global rebalancing efforts."We do not think a country should rely others to solve its own problems," Su, a member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, said on the sidelines of the top political advisory body's annual session.The U.S. Department of Commerce said on March 11 that the U.S. trade deficit with China increased to 18.3 billion U.S. dollars in January from 18.14 billion U.S. dollars in December. The increase renewed the U.S. call for a stronger yuan as it claimed the current exchange rate gives Chinese goods unfair price advantages.Su said although yuan has gained more than 20 percent since it depegged the U.S. dollars in June 2005, China's trade surplus tripled from 100 billion U.S. dollars in 2004 to nearly 300 billion U.S. dollars in 2008.In addition, he argued, a weaker U.S. dollar does not help cut the U.S. deficit. As the U.S. dollar depreciated by 3 percent annually in average between 2002 and 2008, its deficit soared from 500 billion U.S. dollars to 900 billion U.S. dollars, Su said.Tan Yaling, a financial researcher with Peking University, said as nations have different roles in international trade and differ in resources, what they produce, consume and want can be very different."It is unfair that the United States, on the one hand, consumes cheap Chinese goods, while on the other hand, it blames the low prices for causing their domestic job losses," she said.The Obama administration's continuous calls for a stronger yuan is actually aimed at diverting attentions from its domestic woes, experts said.To grapple with high unemployment rate and uncertain recovery prospects, Obama has to do something on job promotion to secure victory in the mid-term election in November this year, said Chen Zhiwu, a financial professor with Yale University.To curb soaring unemployment and boost growth, Obama has announced a special task force on a mission of doubling the U.S. exports in five years, as he said the U.S. can not "stand on the sidelines," as other countries are busy negotiating trade deals.Cheng Enfu, a deputy to the National People' s Congress (NPC), China' s top legislature, said the consistent pressure from the United States is simply because of its pursuit of national interests."Over-fast appreciation of yuan does no good to the global economic recovery which is still fragile and uncertain," he said.Zhu Yuchen, also an NPC deputy, said as China plays a leading role in global economic recovery, any drastic policy change will not only impair China's economy, but also the global recovery, which is not a responsible way.President Obama's remarks also came a month ahead of a semiannual Treasury Department report that could label China as a currency manipulator.Premier Wen Jiabao said in the government work report delivered to the NPC on March 5 that China will keep the yuan "basically stable" at an "appropriate and balanced" level.HEFTY SURPLUS, BUT SLIM PROFITSAlthough China has accumulated massive trade surplus over the past decades, that does not indicate the same profits, as more than half of China's exporters are foreign invested, lawmakers said.Figures released by the Ministry of Commerce showed 55.2 percent of China's foreign trade was completed by foreign-invested businesses last year. And 56 percent of the exports were done by foreign companies in China.Cheng Enfu said China only pockets paper-thin profits from the very end of the manufacturing chain, or processing and assembling work. However, the United States earn handsome profits from designing and distribution.According to a study by researchers of the University of California, of the 299 U.S. dollars retail value of a 30-gigabyte video iPod in the United States, 163 U.S. dollars is captured by American companies and workers, and 132 U.S. dollars go to parts makers in other Asian countries, while the final assembly, done in China, cost only about 4 U.S. dollars a unit."Even though Chinese workers contribute only about 1 percent of the value of the iPod, the export of a finished iPod to the United States directly contributes about 150 U.S. dollars to our bilateral trade deficit with the Chinese," Hal R. Varian, a professor of the University of California at Berkeley, wrote on the New York Times on June 28, 2007.Cheng Enfu noted it needs to upgrade exports product mix to fundamentally reverse China's disadvantages. That is, to export more profitable self-innovative products, rather than labor-intensive processing goods.
BEIJING, Feb. 9 (Xinhua) -- Following several reports of melamine-tainted milk products resurfacing, Chinese Vice Premier Li Keqiang on Tuesday vowed a new nationwide campaign in 2010 to ensure food safety."Food is essential, and safety should be a top priority for food. Food safety is closely related to people's life and health and economic development and social harmony," Li said at the first plenary meeting of the recently-established food safety commission under the State Council.According to Li, this year's campaign will focus on the prominent issues of food additives, edible farm products, food production processing, food circulation and import and export, livestock slaughter, the catering industry and health supplements industry, among others."We should understand the foundation for the country's food safety is still weak and the situation is grave," Li said. "We should fully realize that it is a pressing issue to ensure food safety." Chinese Vice Premier Li Keqiang(C) attends the first plenary session of the food safety commission in Beijing, capital of China, Feb. 9, 2010Media reports said melamine-tainted dairy products have resurfaced in several Chinese provinces, proof that the toxic milk powder recalled in 2008 was not destroyed and has been used.Melamine is an industrial compound which can give a false positive on protein tests and cause kidney stones. Melamine-contaminated milk products killed at least six children in 2008 and sickened 300,000.Li stressed responsibility of food producers and vendors while calling on various government departments to strengthen supervision and guidance of these companies.He urged improvement in food safety standards and the food system production check-ups, risk evaluation, accident prevention and emergency response.Li vowed to "thoroughly" investigate the latest milk scandal, destroy all tainted products and severely punish those responsible.Two managers from a dairy company and a milk powder dealer in northwestern Shaanxi Province were arrested on charges of manufacturing and selling food that does not meet hygiene standards, local police said earlier this month.Li urged the strengthening of law enforcement by increasing the frequency of inspection and expanding the supervision to clear up potential troubles and ensure people spend a happy and peaceful Lunar New Year, which falls on Feb. 14 this year.
ADDIS ABABA, Jan. 29 (Xinhua) - The Chinese government attaches great importance to cooperation with Africa in the Information and Communication Technologies (ICTs) sector, Chinese Envoy and Deputy Foreign Minister Zhai Jun said in a recent interview with Xinhua.The Chinese department in charge of information and communication will strengthen communication and cooperation with their African counterparts and establish consultation mechanisms, Zhai said.Meanwhile, the Chinese government will support capable enterprises to open business in Africa, in a bid to make contribution to African countries' economic development and promote modernization of communication in the continent, he said.The cooperation between China and Africa in the ICTs sector has played an active role in advancing Africa's overall communication level, promoting the continent's economic development, and bridging the "digital gap" between Africa and the rest of the world, the Chinese envoy said.Thanks to the efforts made in the past 10 years, communication facilities produced by Chinese enterprises have gained certain market share in Africa, and Chinese brands have won their renown in the African market, Zhai said.Products and services by Chinese communication facility enterprises such as ZTE and Huawei have covered 50 African countries, providing communication services for more than 300 million people, Zhai said.Meanwhile, more than 40 3G networks have been established in over 30 African countries with regional offices of Chinese communication facility enterprises scattering in 48 African countries while regional research and development centers and personnel training centers have also been established in the continent, he noted.Moreover, ICTs cooperation between the two sides have also helped generate employment, promote technology transfer and improve people's livelihood in Africa, said the minister.In Africa, Chinese enterprises pay special attention to employing local employees, who now account for over 60 percent of the total number of staff, Zhai said, adding that Chinese enterprises train more than 20,000 technical personnel for Africa every year.Chinese enterprises also do their best to make local procurement, Zhai said, noting that Huawei alone has made a 480- million-U.S. dollar procurement in African in 2008.At the same time, Chinese enterprises actively carry out social responsibilities in Africa by funding schools, hospitals and wildlife conservation, which are applauded extensively by African governments and people, according to him.Zhai arrived in the Ethiopian capital Addis Ababa Wednesday to attend as an observer the 14th African Union (AU) summit scheduled from Sunday to Tuesday.Under the theme "Information and Communication Technologies in Africa: Challenges and Prospects for Development," leaders from AU member states will assess the achievement made in Africa in the ICTs sector, while discussing opportunities, challenges and prospects of the sector's development.During the summit, participants are also expected to exchange views on issues including regional integration, climate change, Africa's stance on UN reforms and regional conflicts, among others.
BEIJING, Feb. 8 (Xinhua) -- The Communist Party of China (CPC) Central Committee Monday called on it members to strengthen learning Marxist theories and various fields of knowledge as required by the country's modernization drive.A circular issued by the General Office of the CPC Central Committee said, "Be it a country, a nation or a party, if it does not strengthen study or enhance the learning ability, it will certainly be left behind by the time."It said as China has entered a new development stage, new problems will constantly emerge and "there are many things that we are not familiar with, or do not understand."It called on CPC members to deeply learn the Marxist theories, the Party's guideline principles, policies, history, and the country's laws and regulations, as well as various kinds of knowledge that would be useful in the modernization drive.It said efforts should be made to study the Scientific Outlook on Development, the core of policies of the leadership which has been enshrined in the Party's constitution and stresses a comprehensive, balanced and sustainable development that is people-oriented.