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BEIJING, March 7 (Xinhua) -- China should speed up reforming its financial system to make the yuan an international currency, said political advisors Saturday.     "A significant inspiration to draw from the global financial crisis is that we must play an active role in the reconstruction of the international financial order," said Peter Kwong Ching Woo, chairman of the Hong Kong-based Wharf (Holdings) Limited.     The key to financial reform is to make the yuan an international currency, said Woo in a speech to the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.     That means using the Chinese currency to settle international trade payments, allowing the yuan freely convertible on the capital account and making it an international reserve currency, he said.     China's yuan, or Renminbi, can be freely convertible on the current account but not on the capital account, preventing it from being a reserve currency or a choice in international trade settlement.     China has announced trial programs to settle trade in the yuan, a move analysts say will facilitate foreign trade as Chinese exporters might face losses if they continue to be paid in the U.S. dollar. The dollar's exchange rate has become more volatile since the global financial crisis.     Economists say the move will increase the acceptance of the currency in Asia, which will help it become an international currency in the long run.     The status of the yuan as an international currency will benefit China by giving it a bigger say in world financial issues and reducing the reliance of its huge foreign reserves on the U.S. dollar, some analysts say.     Other analysts argue a fully convertible yuan will hurt China as it would allow massive capital outflow during a financial crisis.     Meanwhile, Chinese authorities remain cautious.     It's possible that the global financial crisis will facilitate the process of making the yuan internationally accepted, but there's no need to push for that, Yi Gang, vice central bank governor, told Xinhua earlier this month.     That process should be conducive to all sides, he said.     Xu Shanda, former vice director of the State Administration of Taxation and a CPPCC National Committee member, urged for faster paces in making the yuan an international currency as a way of increasing national wealth.     He said the United States and the European Union have obtained hefty royalties from the international use of their currencies while China has become the biggest source of that income.     A royalty, or seignior age, results from the difference between the cost of printing currency and the face value of the money.     "China's loss due to royalty payment has far exceeded the benefit of not making the yuan an international currency," he said in a speech to the annual session of the CPPCC National Committee, without elaborating.     China's State Council, or Cabinet, said last December it would allow the yuan to be used for settlement between the country's two economic powerhouses -- Guangdong Province and the Yangtze River Delta -- and the special administrative regions of Hong Kong and Macao.     Meanwhile, exporters in Guangxi Zhuang Autonomous Region and Yunnan Province will be allowed to use Renminbi to settle trade payments with ASEAN (Association of Southeast Asian Nations) members.

MOSCOW, March 22 (Xinhua) -- Top think tanks from Russia and China discussed a wide range of security issues of common concern at a two-day seminar that ended here Sunday.     participants at the seminar exchanged ideas on world economic and political trend, the situation in Central Asia, and prospects for the Shanghai Cooperation Organization (SCO) under the global security framework.     The seminar, "Russia and China in a new era," was co-chaired by China Institute for International Strategic Studies (CIISS) and Russian Council for Foreign and Defense Policy (CFDP).     Xiong Guangkai, chairman of the CIISS, and Sergei Karaganov, head of the CFDP, attended the meeting.     Participants in the meeting agreed that the current world is ata stage of profound change and major readjustment. The ongoing financial crisis has led to greater instability in global and regional situation. Yet, the world will continue to move towards multi-polarization despite emerging complexities in global situation.     Both sides believed that safeguarding security and stability in Central Asia serves the common strategic interests of China and Russia, and is also a necessity for deepening the two countries' strategic cooperation.     They also agreed the SCO, as a new organization of regional security cooperation, not only accords with fundamental interests of all the SCO members, but also contributes to regional and global peace and security. China and Russia shall strengthen understanding, trust and cooperation to ensure the sound development of the SCO.     As a national, nongovernmental institute on global issues, the CIISS keeps in touch with about 100 institutions from over 50 countries and regions across the world. The CFDP is Russia's famed think tank closely associated with several departments of Russian government and legislature.

BEIJING, March 5 (Xinhua) -- Chinese leaders joined deputies to the National People's Congress (NPC), the country's top legislature, in deliberating the government work report by Premier Wen Jiabao Thursday, calling for concerted efforts to overcome difficulties and achieve fresh development.     When joining NPC deputies from the eastern Jiangsu Province, President Hu Jintao urged them to have a clear mind of the current domestic and international situation, saying "challenges before us are really severe, but opportunities still exist". Chinese President Hu Jintao (front R), meets with deputies to the Second Session of the 11th National People's Congress (NPC) from east China's Jiangsu Province, in Beijing, capital of China, March 5, 2009. Hu Jintao joined in the panel discussion of Jiangsu delegation on the opening day of the Second Session of the 11th NPC. It is a must to seize the opportunities, brave the challenges and do our utmost to minimize the impact of the international financial crisis, Hu said.     "(We) must break new ground by tackling challenges and achieve fresh development by overcoming difficulties," he added.     He called for more efforts to improve the well-being of the people especially when there are difficulties in the way of economic development. This included increasing job opportunities, expanding the social security net and providing better education and medical care services.     The president urged officials at all levels to oppose waste and extravagance and make good use of money to promote economic and social development and improve people's lives.     He asked officials to "study earnestly, behave honestly and work with integrity." Wu Bangguo (front R), 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), shakes hands with a deputy to the Second Session of the 11th NPC from east China's Anhui Province, in Beijing, capital of China, March 5, 2009. Wu Bangguo joined in the panel discussion of Anhui delegation on the opening day of the Second Session of the 11th NPC.While deliberating the report with lawmakers from Anhui Province, top legislator Wu Bangguo said priority should given to maintaining steady and relatively rapid economic growth, accelerating economic restructuring and improving people's well-being.     Top political advisor Jia Qinglin echoed Wu's view while discussing with deputies from Beijing. Jia Qinglin (R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), meets with deputies from Beijing to the Second Session of the 11th National People's Congress (NPC) in Beijing, capital of China, March 5, 2009. Jia Qinglin joined in the panel discussion of Beijing delegation on the opening day of the Second Session of the 11th NPCJia, chairman of the National Committee of the Chinese People's Political Consultative Conference, told said that as the national capital, Beijing has gained precious experience from hosting the Beijing Olympics and Paralympics.     Based on the experience, he hoped the people in Beijing could succeed in creating a good atmosphere for celebrations of the 60thanniversary of New China which falls on Oct. 1. Li Changchun (front R), member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with a deputy to the Second Session of the 11th National People's Congress (NPC) from southwest China's Sichuan Province, in Beijing, capital of China, March 5, 2009. Li Changchun joined in the panel discussion of Sichuan delegation on the opening day of the Second Session of the 11th NPCLi Changchun, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said the Scientific Outlook on Development should be embodied in cultural building to better serve the people's cultural needs and promote economic and social progress.     While attending a group discussion with lawmakers from Sichuan Province, Li also praised the province for its reconstruction efforts after the May 12 earthquake last year. Chinese Vice President Xi Jinping (front R), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, shakes hands with a deputy to the Second Session of the 11th National People's Congress (NPC) from east China's Shanghai Municipality, in Beijing, capital of China, March 5, 2009. Xi Jinping joined in the panel discussion of Shanghai delegation on the opening day of the Second Session of the 11th NPC. Vice President Xi Jinping joined deputies from Shanghai in their discussion and praised the people of Shanghai in their preparations for hosting the World Expo due to open in 2010.     He called on Shanghai officials to do everything possible to improve people's lives, properly handle issues concerning the interests of the people and maintain social stability.

BEIJING, March 12 (Xinhua) -- Overseas Chinese say they are pleased with the economic stimulus measures discussed at China's two top political conferences and think the proposals will provide a good road map for the future.     The two conferences, known as the "two sessions," are the Second Session of the 11th National People's Congress (NPC), which was to end Friday, and the Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), which closed Thursday.     Speaking of Premier Wen Jiabao's work report to the NPC, overseas Chinese in the Czech Republic said they are confident for the future development of their homeland.     Ni Jian, chairman of the Czech Council for the Promotion of Peaceful Reunification of China, together with others, said they were pleased as Wen said in his speech that China "must not slacken efforts" to promote its exports amid a sharp decline in external demand.     Wen said "We will continue to diversify our export markets and compete on quality, enhance traditional export markets, and energetically open up new markets," adding the government is to take a series of measures to relieve the difficulties of exporters.     Ni said the proposed measures lighten the way for Chinese business people abroad.     Hu Zhiheng, a Wenzhou businessman in Italy, said he was most impressed by Wen's remarks that the government will make efforts to "ensure steady growth in foreign trade."     As a matter of fact, China had already adopted a series of measures before the two sessions that included such things as raising export rebates, loosening credit, and abolishing or cutting customs tariffs, he said.     The overseas Chinese were mostly concerned with the economic policies released at the two sessions and how the government will be responding to the global financial crisis in order to maintain stable development, Luo Yuhong, chief editor of Capital News in Belgium, told Xinhua.     Lu Chengrui, head of the U.S. Shandong Association, said he holds high expectations for the two conferences, and hopes all of the plans can be implemented.     Zhan Aixia, head of the New York Beijing Association, said after reading the government work report that she expects her country to develop a stronger economy and intensify cultural exchanges with the United States.     In addition, Chinese students in Japan, Belgium and Italy also kept a close eye on China's development.     In Belgium, student Chen Fang said she was especially interested in issues concerning employment as she planned a career in China after graduation.     Wu Changbo and Chen Yao in Italy described Wen's work report as China's commitment to the world amid the economic crisis.     In the face of great challenges and difficulties, China still pledged an 8 percent economic growth, which they said has showcased the confidence of the country.     Wen's statement that put a priority on the employment of college students and the advancing of education were inspiring, they said, adding that they wish they could use the knowledge they have acquired abroad to serve the motherland after graduation.     Li Guangzhe, chief of the Chinese students' association in Japan, told Xinhua that the group cares most China's ongoing process of building a harmonious society and the role it plays in the world platform.     Li said he found the answers to those questions in the premier's work report.     The confidence delivered in Wen's report will give impetus to the development of the whole world and demonstrates that China is a responsible global power, he added.

来源：资阳报