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BRUSSELS, Jan. 11 (Xinhua) -- Chinese and EU leaders on Tuesday signed a first joint declaration on strengthening dialogue and cooperation on youth issues as the 2011 EU-China Year of Youth kicked off here.Androulla Vassiliou, EU Commissioner for Education, Culture, Multilingualism and Youth, said at the opening ceremony that the year would open up new horizons for young people from Europe and China by enabling them to share experiences and learn from each other."I hope that such exchanges will inspire concrete ideas for cooperation and establish long-lasting partnerships," Vassiliou said.The opening ceremony was the first of a series of exchange activities to be held throughout the year in Europe and China. The EU-China Year of Youth was jointly initiated by Chinese Premier Wen Jiabao and European Commission President Jose Manuel Barroso at the 12th EU-China summit held in 2009."The Year will provide an interactive platform for European and Chinese young people to enhance mutual understanding and friendship through creativity, tolerance and openness. We hope they can open a new page of people-to-people contacts between Europe and China," said Wang Xiao, President of the All-China Youth Federation.Wang led a delegation of 100 Chinese young people who arrived in Brussels earlier this week to meet with their 100 European counterparts for the first time.The 200 young representatives from the EU and China also exchanged ideas on a variety of issues including volunteering, mobility, culture and creativity prior to the opening ceremony. Those from China will also visit the European Parliament, the College of Europe and EU's Court of Justice later this week.The yearlong program, co-hosted by the European Commission and the All-China Youth Federation, aims to promote intercultural dialogue and strengthen mutual understanding and friendship between European and Chinese youth, as well as encourage young people to care about and support the development of EU-China relations.The EU-China Year of Youth also coincides with the European Year of Volunteering and the 10th anniversary of the International Year of Volunteering, thus voluntary activities involving young Europeans and Chinese will be encouraged throughout the Year.With Chinese Vice Premier Li Keqiang wrapping up his three- nation Europe tour on Wednesday, the Sino-EU relation has had a good start this year in terms of political mutual trust and economic cooperation, while the kick-off of the EU-China Year of Youth is expected to break new ground in all-round exchanges among young people."The EU and China are now more than just trading partners, but also strategic partners. We should work together for a future of prosperity," said Ambassador Song Zhe, Head of the Mission of China to the European Union.

BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

YAOUNDE, Jan. 13 (Xinhua) -- Visiting Chinese Vice Premier Hui Liangyu has met here with Cameroon's Prime Minister Philemon Yang with both vowing to further develop bilateral ties.During their meeting on Wednesday, Hui said since the establishment of diplomatic ties between China and Cameroon 40 years ago, the peoples of the two countries have stood together through thick and thin and enjoyed the steady development of bilateral ties featured with political mutual trust, frequent exchange of high-level visits and increasing volumes in bilateral trade.Hui said the friendly cooperation ties between China and Cameroon are in the fundamental interests of the two countries and the two peoples and contribute to the common development of the two countries.He said China is willing to work together with Cameroon so as to push the bilateral ties to a new high.Hui also made five-point proposals on developing the China- Cameroon ties which include further consolidating the political foundation of bilateral ties and continuing to understand and support each other on the important issues of core interests and common concern, further expanding economic and trade cooperation with China continuing to encourage its enterprises to cooperate with Cameroon in the sectors, among others, of infrastructure construction and air transportation, boosting agricultural cooperation and explore the ways and means of strengthening and deepening agricultural cooperation between the two countries, enriching the people to people and cultural exchanges of the two countries and considering to sign the new implementation plan of the cultural accords between the two governments at an appropriate time and strengthening the cooperation and coordination between the two sides in international affairs and working together to maintain the interests of the developing countries.For his part, Philemon Yang said in the past 40 years, Cameroon has always regarded China as a friend that can be trusted and the two countries have conducted cooperation in various areas.The prime minister said that his country is pleased that China has kept creating economic miracles, and that China has shared its development achievements with the world so as to realize the win- win.Philemon hoped that China will provide more aid to Cameroon in the sectors of irrigation works and highway construction.After their meeting, Hui and Philemon attended the signing ceremony of four accords including the economic and technology cooperation accord between the two governments.

BEIJING, Jan. 13 (Xinhua) -- The Chinese yuan strengthened to a record high against the U.S. dollar on Thursday to reach 6.5997 per dollar.The central parity rate of the Chinese currency, also known as the renminbi (RMB), was set 131 basis points lower than Wednesday's 6.6128, according to the China Foreign Exchange Trading System.China's central bank announced on June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market each business day.

来源：资阳报