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BEIJING, Nov. 12 (Xinhua) -- China would not let the yuan gain against the U.S. dollar in the short term, experts said here Thursday when commenting on the latest quarterly report of China's central bank.     People's Bank of China (PBOC), the central bank, said Wednesday in its quarterly report of monetary policy, for the first time, that the bank would improve the mechanism of the exchange rate determination "based on international capital flows and movements in major currencies".     "The new wording showed that China would reduce speculation and strengthen risk control in the future, but it did not necessarily suggest a change in the yuan's exchange rate policy," said Tan Yaling, an expert with the China Institute for Financial Derivatives at Peking University.     "The future mechanism would reflect China's own concerns and status," she said.     China's foreign exchange reserves surged to a record 2.27 trillion U.S. dollars as of the third quarter of 2009, up 19.26 percent year on year, PBOC reported in September.     According to Yin Jianfeng, a researcher with the Chinese Academy of Social Sciences (CASS), a government think tank, it is natural for the central bank to pay more attention to increasing international capital inflows.     "Excessive liquidities are pouring into China as the country is witnessing rapid recovery while the economic condition is still weak in the western world," he said.     Zuo Xiaolei, chief economist with Galaxy Securities, said the central bank's report indicated the government had raised concerns that such inflows would put China under huge external pressure for yuan appreciation.     Zuo predicted that as the U.S. dollar depreciates further, excessive liquidity will be a global issue in future, which would in turn pull up China's foreign reserve to a new level.     China has been facing calls to let its own currency gain against the dollar since it recovered quickly from the financial crisis, especially after it reported the positive economic data of last month, however, experts had expressed different opinions.     "Sudden upward movement in the yuan would slow China's economic growth when the country's exports just showed signs of recovery, "Tan said, "All in all, the exchange rate policy should not be subjected to other countries but serve our own economy."     Also, the pace of yuan's appreciation should be determined not only by the foreign trade surplus, according to Zuo Xiaolei.     The balance of China's internal development should also be taken into consideration, including the massive stimulus package and the accumulated liabilities of local governments, she said.     China's exports slid 13.8 percent year on year to 110.76 billion U.S. dollars in October, said the National Bureau of Statistics Wednesday. The decline rate was 1.4 percentage points lower than that of September.

NEW YORK, Jan. 7 (Xinhua) -- Stopping importing from China may result in an increase in the U.S. trade imbalance, chief economist of the World Bank Justin Yifu Lin said during a speech here on Thursday.     Addressing the audience at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange, Lin said the imbalance between the United States and China actually "reflects some kind of specialization due to the state of development."     The type of products that China exported to the United States are labor-intensive living necessities that the United States will never produce anymore and has no competitive advantages, Lin said. Chief economist of the World Bank Justin Yifu Lin delivers a speech at a forum about the forecast and views of Chinese economy held at the New York Stock Exchange in New York, the U.S., Jan. 7, 2009. He said stopping importing from China may result in an increase in the U.S. trade imbalance    "If China will not export those type of labor-intensive products, U.S. will have to import from other middle income or lower income countries," he added. "And very likely, the cost of importing from other countries will be higher."     Lin said U.S. companies always have a free choice to import from China or other countries, and they currently choose China is because the cost is lower.     "If U.S. has to switch the source of the import from another country, (U.S.) people will have to pay for them no matter how high the price is because that is a definite necessity," Lin said," that means most likely the trade imbalance in U.S. may increase."

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao and visiting U.S. President Barack Obama issued the China-U.S. Joint Statement here Tuesday, expressing the hope that the multilateral mechanism of the Six Party Talks would convene at an early date.     The two presidents reaffirmed in the joint statement the importance of continuing the Six Party Talks process and the denuclearization of the Korean Peninsula.     The joint statement said the two sides will work together with other parties concerned to comprehensively achieve the purpose and overall goal of the Six Party Talks through consultations and dialogues.     "The Chinese side welcomed the start of high-level contacts between the United States and the DPRK," said the joint statement.

BEIJING, Nov. 17 (Xinhua)-- The United States welcomes the peaceful development of cross-Straits ties and "more positive and stable" cross-Straits relations, said a China-US Joint Statement issued here Tuesday.     The statement said that both sides underscored the importance of the Taiwan issue in China-US relations.     The Chinese side emphasized that the Taiwan issue concerns China's sovereignty and territorial integrity, and expressed the hope that the US side will honor its relevant commitments and appreciate and support the Chinese side's position on this issue.     The US side stated that the United States follows its one-China policy and abides by the principles of the three Sino-US joint communiques, said the statement.     The two sides reiterated that "the fundamental principle of respect for each other's sovereignty and territorial integrity is at the core of the three Sino-US joint communiques which guide China-US relations. Neither side supports any attempts by any force to undermine this principle," said the statement.     The two sides agreed that respecting each other's core interests is extremely important to ensure steady progress in China-US relations.     Both countries believe that to nurture and deepen bilateral strategic trust is essential to China-US relations in the new era.     The US side reiterated that it welcomes a strong, prosperous and successful China that plays a greater role in world affairs.     The two sides are of the view that in the 21st century, global challenges are growing, countries are more interdependent, and theneed for peace, development and cooperation is increasing. China and the U.S. have an increasingly broad base of cooperation and share increasingly important common responsibilities on many major issues concerning global stability and prosperity.     The two sides should further strengthen coordination and cooperation, work together to tackle challenges and promote world peace, security and prosperity, said the statement.     The two sides reiterated that they are committed to building a positive, cooperative and comprehensive China-US relationship for the 21st century, and will take concrete actions to steadily build a partnership to address common challenges.     During their discussions, the Chinese side said that it resolutely follows the path of peaceful development and a win-win strategy of opening-up, and is committed to promoting the building of a harmonious world of enduring peace and common prosperity.     The U.S. is committed to working with other countries in addressing the most difficult international problems they face, said the statement.     China welcomes the United States as an Asia-Pacific nation that contributes to the peace, stability and prosperity in the region.     The statement was signed during U.S. President Barack Obama' s visit to China between November 15 and 18. 

BEIJING, Dec. 19 (Xinhua) -- Chinese Premier Wen Jiabao brought hope and confidence to the world in its fight against climate change by attending the summit of the UN Climate Change Conference in Copenhagen, Foreign Minister Yang Jiechi said Saturday.Yang, who had accompanied Wen during his visit on Thursday and Friday, said climate change profoundly affected mankind's existence and development, imposed a critical challenge to the world, and should be tackled by all countries jointly.     The Copenhagen conference was an important opportunity to boost international cooperation in combating climate change, Yang said.     Under the joint efforts of all parties, the conference yielded significant and positive fruits in three aspects, he said.     First, it firmly upheld the principle of "common but differentiated responsibilities" set by the UN Framework Convention on Climate Change and the Kyoto Protocol.     Second, it made a solid step forward in promoting developed countries' binding emissions cuts and developing countries' voluntary mitigation actions.     Third, it produced important consensus on the key issues of long-term global emissions cut targets, funding and technology support to developing countries, and transparency.     Yang said Premier Wen's attendance at the summit showed the Chinese government took a highly responsible attitude toward the Chinese people, all peoples in the world and mankind's future.     Over the last two days, Wen delivered an important speech to the summit, kept close contact with many parties, communicated and coordinated with them, overcame various difficulties, and guided action according to situation. He adopted a principled but flexible attitude, broke his back to move the climate talks forward on the right track, and played a pivotal role in the climate talks.     Wen's attendance contributed to the global fight against climate change mainly in three fields, Yang said.     FIRST, ABIDING BY PRINCIPLES, MAINTAINING A FOUNDATION FOR COOPERATION     Yang said developing and developed countries were very different in their historical emissions responsibilities and current emissions levels, and in their basic national characteristics and development stages, therefore they should shoulder different responsibilities and obligations in fighting climate change.     According to Yang, Wen told the conference the international community must adhere to the following four principles to combat climate change.     First, maintaining the consistency of outcomes:     The outcome of this conference must stick to rather than obscure the basic principles enshrined in the Convention and the Protocol. It must follow rather than deviate from the mandate of the "Bali Roadmap." It should lock up rather than deny the consensus and progress already achieved in the negotiations.     Second, upholding the fairness of rules:     The principle of "common but differentiated responsibilities" represents the core and bedrock of international cooperation on climate change and it must never be compromised. Developed countries must take the lead in making deep quantified emission cuts and provide financial and technological support to developing countries. Developing countries should, with the financial and technological support of developed countries, do what they can to mitigate greenhouse gas emissions and adapt to climate change in the light of their national conditions.     Third, paying attention to the practicality of the targets:     In tackling climate change, the world needed to take a long-term perspective, but more importantly, focus on the present. It was important to focus on achieving near-term and mid-term reduction targets, honoring the commitments already made and taking real action. One action was more useful than a dozen programs. The conference should give people hope by taking credible actions.     Fourth, ensure the effectiveness of institutions and mechanisms:     The international community should make concrete and effective institutional arrangements under the Convention to have developed countries honor their commitments, provide sustained and sufficient financial support to developing countries, speed up the transfer of climate-friendly technologies and effectively help developing countries strengthen their capacity in combating climate change.     Yang said Wen's propositions reflected developing countries' common stance. The propositions were reasonable and lawful, based on the present, faced the future, addressed all parties' interests, pointed out the direction for the climate conference when it was at the crossroads, effectively kept and boosted the talks, and won wide support and praise.

来源：资阳报