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LANZHOU, Aug. 12 (Xinhua) -- A total of 550 primary and middle school students flew back to quake-hit Chinese provinces from Russia Wednesday after completing a three-week recuperative tour.     The teenagers, 340 from Sichuan Province, 110 from Gansu Province and 100 from Shaanxi Province, were invited by the Russian government to recuperate at the "Ocean" All-Russia Children's Care Center in Vladivostok, Far East, since July 23.     The students boasted excellent performance at their schools and demonstrated bravery in the devastating earthquake in May last year. Chinese children hug their Russian counsellors at the "Ocean" All-Russia Children's care center in Vladivostok, Russia, on Aug. 11, 2009"Tutors in the center treated us very friendly," eight-grader Yang Yan from Gansu's Kangxian County said. "Before our departure, everyone cried, including our tutors."     "Tutors gave each of us a disk, which recorded wonderful moments of everyday life we had there," Yang said.     The center made a tight schedule for the students from 8 a.m to the evening since their arrival, said Liu Yufeng, a Chinese tutor from Chengxian County in Gansu. "Students danced and sang everyday. They were so happy," he said.     "What touched me most was the sincerity of the Russian hosts," Liu said. "They were very thoughtful."     "I was also very happy to make friends with students from many other countries, such as Russia, Japan and Vietnam," six-grader Zhang Dapeng from Gansu's Wenxian County said. "I enjoyed learning different cultures from them."     On May 12, 2008, an 8.0-magnitude earthquake jolted Sichuan and neighboring Shaanxi and Gansu provinces, leaving more than 87,000 dead or missing and more than 370,000 injured.     Since 2008, two batches of more than 1,500 pupils from Sichuan, Gansu, and Shaanxi have been invited to recuperate in Russia. Last year, the first group of 1,018 students went to Russia for rehabilitation.

HONG KONG, Sept. 28 (Xinhua) -- The launch of Renminbi sovereign bonds in Hong Kong on Monday shows China's efforts to boost the international use of the yuan step by step, officials and analysts said.     The bond issue, worth only 6 billion yuan (878.5 million U.S. dollars), marked a key milestone in the internationalization of the RMB.     Hong Kong was chosen for, and will benefit from, the milestone bond sale thanks to its unique position as the international financial center providing desired cushion against the potential risks when the program was launched, analysts said.          BOOSTING INTERNATIONAL USE OF RMB     The bond issue in Hong Kong came earlier than expected, said Hu Yifan, an economist with CITIC Securities.     "The need for the RMB to go international and convertible has been growing along with the increasing importance and openness of the Chinese mainland economy and the risks arising from over- reliance on the United States dollar as the reserve currency," said Tse Kwok-leung, head of economic research of Bank of China ( Hong Kong) Limited.     China has been launching pilot RMB programs over the years, but the pace has obviously quickened since the onset of the global financial crisis. Pilot RMB programs launched in Hong Kong over the past 12 months also included yuan-denominated cross-border trade settlement and trade financing, yuan bonds issued by policy banks, commercial lenders and the branches of foreign banks, and currency swaps.     The sovereign bond issue would help "boost the international use of the RMB in a steady and orderly manner," the Chinese Ministry of Finance quoted Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Henry Tang as saying.     The sovereign bond sale in Hong Kong serves the purpose of water testing to "see how it is received by international investors." Hong Kong has a unique strength in that it provides the desired cushion against potential risks when the pilot programs were launched, given that the mainland capital market was yet to open up, Tse said.          BOOSTING NASCENT BOND MARKET IN HONG KONG     The bond issue ahead of the Chinese National Day showed the central government's support for Hong Kong, Vice Minister of Finance Li Yong said.     It will help Hong Kong build on its strength as an international financial center by boosting the nascent bond market in Hong Kong, Tse Kwok-leung said.     "It calls for a banking system, a stock market and a bond market, all developed, to make a developed international financial center," Tse explained.     Hong Kong has been aspiring to be the leading international financial center in the Asian time zone.     Government statistics showed that the total assets of Hong Kong's banking system and the size of its stock market were both about six times its gross domestic product, compared with a bond market equivalent to 43 percent of its gross domestic product.     Bonds issued in Hong Kong in 2008 totaled 424.4 billion HK dollars (54.4 billion U.S. dollars), with 67 percent issued by the Hong Kong Foreign Exchange Fund, which was established to defend the Hong Kong dollar peg to the U.S. dollar.     The other 33 percent were accounted for by development banks from outside Hong Kong and corporate bonds issued by local players. There were no sovereign bonds.     Tse said the bond issue will also help improve the liquidity of, and diversify, the local bond market. It will also improve the operation of the RMB bond market in Hong Kong by helping find the benchmark interest rate in the local market.     Tse said the demand for sovereign bonds issued by an economy as strong as the Chinese mainland was huge, given the impact of the global financial crisis on the corporate bond market.     Vice Minister of Finance Li Yong also said he believed the bonds will be well received.     "I believe the RMB sovereign bonds will prove popular with investors looking for safe and prudent investments. I definitely think it will be successful," Li said.

LONDON, Sept. 4 (Xinhua) -- Chinese Finance Minister Xie Xuren said on Friday that the current economic stimulus measures should be maintained to ensure economic recovery and growth worldwide.     After a BRIC-country meeting held in London, Xie told a news conference that the four countries are now at a key stage of economic recovery, and should strengthen their coordination of economic policy.     The finance ministers and central bank governors of Brazil, Russia, India and China, the so-called BRIC countries, gathered in London on Friday to discuss the current situation of the world economy, as well as their governments' fiscal and monetary policy responses.     Xie stressed that promoting the reform of international financial institutions is a common consensus reached at the G20 summit held in London in April, adding that "we must put it into practice in accordance with the timetable."     The Chinese minister also called on the international community to attach great importance to the imbalance between the North and the South, and to further help developing countries realize common development, so as to achieve a fundamental balance and sustainable growth of the global economy. Alexey Kudrin (2nd L), Xie Xuren (4th L), Guido Mantega (4th R) and Pranab Mukherjee (2nd R), finance ministers from Russia, China, Brazil and India, have a group photo taken with other attendees prior to their meeting in London, capital of the U.K., Sept. 4, 2009. Officials from Brazil, Russia and India echoed Xie's opinion, saying that they hoped the G20 countries would not abandon their fiscal stimulus packages too early.     They vowed to make more efforts to maintain world trade growth and sustainable economic growth, and looked forward to strengthening the role of the new emerging countries in the international financial institutions.     During the meeting, held on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting to be held this weekend, the BRIC officials "noted the key role that the G20 has played as the focal point in the coordination of international responses to the global crisis and exchanged views on the reform of international financial institutions."     The officials agreed that emerging market economies have shown resilience and helped the world economy absorb the impact of the deterioration of trade, credit flows and demand. In many of them, growth is already back on track after a few quarters of recession or slowdown. Chinese Finance Minister Xie Xuren (2nd R) speaks at a press conference after meeting with his counterparts from Rissa, Brazil and India in London, capital of the U.K., Sept. 4, 2009. Despite these positive signs, it is too early to declare the end of the crisis. The global economy still face great uncertainty, and significant risks remain to economic and financial stability, they said.     The BRIC countries called on the G20 countries to continue to implement countercyclical fiscal and monetary policies in a sustainable and internationally-coordinated manner, and take effective measures to guard against potential economic risks while respecting the particular conditions of each country. 

WASHINGTON, Aug. 6 (Xinhua) -- Chinese tire producers, who are facing proposed sanctionative tariffs from the U.S. authorities, appeal for "fair ruling" from the U.S. government, a Chinese tire industry representatives told Xinhua in an interview on Wednesday.     "The proposed sanction against Chinese tire export to the U.S. market will cause a lose-lose situation on both countries," said Mary Xu, deputy secretary general of the China Rubber Industry Association and the leading member of a Chinese tire producers delegation in Washington.     "We have filed much evidence demonstrating that Chinese tire imports do not injure the U.S. tire industry. The restriction of the Chinese tires cannot solve any problem faced by the U.S. tire industry, and further would hurt U.S. tire distributors and consumers," the delegation said in a letter to the U.S. President Barack Obama before a government hearing on this issue on Friday.     The U.S. Steelworkers union, which represents workers at major U.S. tire manufacturers, filed a petition against China earlier this year for import relief and won a favorable ruling from the U.S. International Trade Commission (ITC).     The panel recommended Obama impose a 55 percent tariff on the Chinese tire imports which would be reduced to 45 percent in the second year and 35 percent in the third before being removed.     The steelworkers asked for protection under Section 421 of U.S. trade law, which only requires petitioners to show that imports from China have disrupted the U.S. market.     "Chinese tires are welcomed by the American consumers who believe that our products have good cost performance," Xu said. "Chinese tires are relatively lower ended and mainly for the replacement of tires. The U.S. tire makers do not produce these types of tires. So our tires are complementary, not competitive to the U.S. products."     Xu said that the tariffs will hurt the American consumers and cause job loss as well.     "This case will influence about 100,000 U.S. employees across the country, including tire sellers, distributors, transporters and logistic companies. More than 25,000 American workers may lose their jobs if the sanction is implemented," Xu said.     "And about 100,000 Chinese workers from 20 tire producers will be influenced by the case," she added.     The ITC said it submitted its investigation report to President Obama and the U.S. Trade Representative (USTR) Ron Kirk last month.     The USTR hearing would be the final event in the investigation before Obama rules on the ITC recommendation.     The USTR will submit its remedy recommendation to Obama by September 2. He is required to make a decision within 15 days after receiving it.     Xu said that the tariffs proposal are widely opposed by the U.S. consumers and tire distributors.     In a letter to President Obama, the American Tire Industry Association (TIA) opposed petition to limit imports of Chinese-made tires and said that it will hurt the U.S. economy and consumers.     This case also aroused closely watch of trade protectionism since it is seen as a test case for the Obama administration's trade policy.     The president's decision will tell the world if he believes his own rhetoric about the dangers of protectionism in a weak global economy, The Wall Street Journal said in a report Tuesday.     "Chinese tires have fairly traded in the U.S. for years. I think limiting trade in fairly traded goods is protectionism. It would contradict recent pledges by the United States to avoid protectionism and to work in cooperation with China to promote trade," said Xu.     "We cannot predict the result of the case right now," Xu said. "What we expect is a fair ruling from the U.S. government."

BEIJING, Aug. 26 (Xinhua) -- A senior Chinese legislator said Wednesday that China will promote social exchanges with Myanmar to boost bilateral ties.     "We attach importance to and support friendly exchanges and cooperation between social groups and organizations in China and Myanmar, which will contribute to the development of bilateral ties," said Zhou Tienong, vice chairman of the Standing Committee of the National People's Congress, in a meeting with a delegation from a government-supported organization from Myanmar.     Zhou, also president of the Chinese Association for International Understanding, briefed the eight-member delegation on China's political and economic situation, its measures in tackling the global downturn and pledged to boost economic and trade cooperation with the international community, including Myanmar. Zhou Tienong (R), vice chairman of the Standing Committee of China's National People's Congress, meets with a delegation of the Union Solidarity and Development Association (USDA) of Myanmar headed by U Than Htay (L), member of the USDA Central Executive Committee and deputy energy minister of Myanmar, in Beijing, China, on Aug. 26, 2009    The delegation from the Union Solidarity and Development Association (USDA), was headed by U Than Htay, a member of the USDA Central Executive Committee and Deputy Energy Minister.     China-Myanmar trade hit 2.6 billion U.S. dollars last year, anda Free Trade Area of China and the Association of Southeast Asian Nations is expected to be established in 2010.

来源：资阳报