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BEIJING, Sept. 7 (Xinhuanet) -- China will "vigorously" expand its imports of key products as the nation strives to cut its trade surplus amid growing protectionism against the world's largest exporter, a senior Chinese trade official said on Monday."We will especially encourage imports of products the nation is short of, especially advanced technology and key equipment," said Chong Quan, China's deputy international trade representative.Special attention will be paid to expanding imports from countries that China has a trade surplus with, he said at the China Import Forum organized by the Ministry of Commerce.Due to their domestic economic woes and political pressure, some developed countries, in particular the US, have accused China of piling up trade surpluses through policies such as an undervalued currency. This argument conveniently ignores other factors at play, such as their own export restrictions.Nonetheless, in the first six months of this year, US exports to China increased 35.7 percent year-on-year, 13 percentage points higher than its overall export growth, according to US figures.Despite the surge of its trade surplus in July, which stood at .7 billion, China will see the surplus drop dramatically for the year to about 0 billion, compared to 0 billion in 2009 and 0 billion in 2008, trade officials said. The country even registered a rare trade deficit of .2 billion in March.As a result of the shift in strategy, the ratio of China's current account (mainly trade of goods) balance to its gross domestic product has been dropping continually since 2007, said Zhang Yansheng, director of the Institute of Foreign Trade at the National Development and Reform Commission."China's processing trade (bringing in goods and exporting finished products), which is the bulk of its exports, could plummet in the coming five years," he said.

BEIJING, Sept. 19 (Xinhua) -- Chinese Vice Premier Zhang Dejiang said Sunday China should vigorously promote the peaceful use of nuclear energy and strengthen its self-innovation to ensure the sound, fast and safe development of China's nuclear industry.Zhang made the remarks at a nuclear work conference in Beijing. He affirmed the achievements that China's nuclear industry has accomplished and the contribution it has made to the country's national defense and social and economic development in the past 55 years.Zhang also said China should increase efforts to boost the safe and peaceful use of nuclear technologies.The country should introduce advanced nuclear technologies developed abroad and strengthen cooperation and communication with leading nuclear companies, he said.Zhang also said China should improve its self-innovation capacity and accelerate the translation of technological results into real-life productivity.

TIANJIN, Oct. 4 (Xinhua) -- The United Nations' chief climate change negotiator applauded China on Monday for its efforts in dealing with the challenge of climate change, saying she was impressed by the determination of the Chinese people and their government.Christiana Figueres, executive secretary of the United Nations Framework Convention on Climate Change(UNFCCC), made the remarks in China's northern city of Tianjin at a welcoming reception held by the Chinese government.A new round of UN climate talks is being held in the port city on Oct. 4-9 in preparation for the year-end Cancun summit in Mexico."Here in Tianjin, I have seen much evidence of determination," said Figueres."(I saw the) determination of the government of China to reduce their CO2 emissions per unit of GDP by up to 45 percent by 2020, (and the) determination of the people of China to turn China into the world's leader in renewable energy technology and to find a visionary balance among economic development, poverty eradication and climate protection."Figueres also praised the host city, saying, "(I saw the) determination of the government of Tianjin, China's fourth-largest city, to be a model city for the circular economy, a pilot city for low-carbon growth and an exemplary city for sustainable development.""A striking example is the Tianjin Eco-City project between Singapore and China and with significant private sector investment, which will provide eco-friendly housing for some 350,000 people," she added.More than 3,000 delegates from 177 parties and observer states and over 200 non-governmental organizations are attending the Tianjin gathering, the final one prior to the United Nations Climate Change Conference to be held in Cancun at the end of this year.Figueres concluded her speech at the reception with a Chinese proverb, "Zhong Zhi Cheng Cheng," which means "With everyone's determination, we can do anything." She also urged all the participants to make concerted efforts to reach a consensus during the climate talks.  

WASHINGTON, Sept. 20 (Xinhua) -- U.S. President Barack Obama said Monday that China's rapid economic development is in the interest of U.S. economy."It's good for us that China has done well," Obama said at a town-hall-style meeting telecast live on CNBC before heading to Pennsylvania to raise money for a Democratic Senate candidate.His address is in line with U.S. Secretary of Treasury Timothy Geithner's testimony to the Congress last Thursday."We have very significant economic interests in our relationship with China," Geithner said, "a strong and growing China benefits the United States, just as a strong and growing United States is good for China."In responding to a question about China's currency issue, Obama said that China's currency is lower than the market says that it should be, but trade is in the benefit for both sides."I just want to make sure trade is good for American businesses and American workers," Obama said."We are going to continue to insist that on this issue, and on all trade issues between us and China, that it is a two-way street, " he said.Facing November elections shaped by voter anger at the sour economy, U.S. lawmakers are weighing bills that would slap sanctions on Chinese goods, amid accusations that China keeps its currency -- and thereby its exports -- artificially cheap.The Obama administration acknowledged that China's imports supported the global economy and contributed substantially to recovery around the world.With over 1.3 billion people and an economy continuing to grow at or near double-digit rates, China is the U.S.' fastest-growing major overseas market.China's record of bringing hundreds of millions out of poverty, building a rapidly growing middle class, and now its efforts to encourage growth led by domestic demand, ultimately mean more demand for American goods and services.In order to pull the economy out of recession, Obama launched National Export Initiative (NEI) in March and set the goal of doubling the U.S. export in five years and creating two million jobs in the country.The Obama administration is clear that the vast Chinese market is a crucial part to fulfill the goal."Increasing opportunities for U.S. firms and workers through expanded trade and investment with China will be an important part of the success of the President's National Export Initiative and our efforts to support job growth more broadly."According to the Treasury Department, China is a critical market for a broad range of American products, from agriculture, to manufacturing, to services.China was the largest market for U.S. soybeans last year, importing over 9 billion dollars.In the manufacturing sector, the United States has already exported nearly 3.5 billion dollars in aircraft to China this year alone, and U.S. exports of automobiles and parts to China have grown over 200 percent.The issues in China and U.S. economic relations and trade should be properly solved through consultations on an equal footing. Exerting pressure cannot solve the issue. Rather, it may lead to the contrary, China's Foreign Ministry said recently.

BEIJING, Sept. 27 (Xinhua) -- Top Chinese legislator Wu Bangguo and Premier Wen Jiabao met with visiting Russian President Dmitry Medvedev Monday, with all three vowing to step up bilateral cooperation.Defining Russia as China's "most important strategic partner," Wu told Medvedev China always regards relations with Russia a priority.He said this year is important for China-Russia ties, citing frequent meetings between state leaders and vigorous trade growth.Medvedev told Wu he had an in-depth exchange of views with Chinese leaders on a wide range of topics and signed a series of important agreements during his "successful" China visit.Wu Bangguo (R), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, meets with Russian President Dmitry Medvedev at the Great Hall of the People in Beijing, capital of China, Sept. 27, 2010.He stressed the importance of Russia-China relations to international relations.Chinese President Hu Jintao and Medvedev attended a ceremony marking the completion of the China-Russia crude oil pipeline after their talks Monday.Calling parliamentary exchanges a key component for the China-Russia strategic partnership of cooperation, Wu proposed enhancing exchange between legislatures and cementing cooperation on large projects.Medvedev agreed with Wu's suggestion, adding that his country highly values its strategic partnership of cooperation with China.Russia is ready to make joint efforts with China to strengthen high-level contacts and substantial cooperation in various areas, he added.