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TIANJIN, March 21 (Xinhua) -- The construction of a new express railway section between two cities near Beijing was kicked off Sunday, which, when completed, is expected to further speed up economic integration around the Chinese capital.The 158-km-long railway linking coastal Tianjin and Baoding in Hebei Province will shorten the journey between the two cities to less than an hour.The project is part of the railway network that covers Beijing, Tianjin and cities in Hebei."The network will serve as an important impetus for the integration of the cities around Beijing," said Wang Ailan, a researcher with the Tianjin Academy of Social Sciences.An express railway between Beijing and Tianjin was put into operation in August 2008, shortening the 120-km journey between the two municipalities to only 30 minutes from the previous 74 minutes at least.The intercity railway network is centered at Beijing and Tianjin, and all the cities covered by the network, including Hebei provincial capital Shijiazhuang and coastal Qinhuangdao, can reach each other within two hours' rail ride, according to the plan .With an investment of 24 billion yuan (about 3.5 billion U.S. dollars) and a designed speed of 250 km per hour, the section between Tianjin and Baoding will serve both passenger and freight trains.The railway between Tianjin and Qinhuangdao, which is under construction, boasts a designed speed of 350 km per hour and will cut the trip between the two cities to 50 minutes when completed. Currently, the fastest train journey between the two port cities is about two hours.A high-speed passenger rail between Beijing and Shijiazhuang is also under construction. By 2012, 11 cities in Hebei will be covered by high-speed rails, and by 2020, the intercity railways between Beijing, Tianjin and cities in Hebei will reach 710 kilometers.

ABU DHABI, Jan. 20 (Xinhua) -- The 2010 World Expo, slated for May 1 to Oct. 31 in the eastern Chinese city of Shanghai, will provide an opportunity for the United Arab Emirates (UAE) and China to enhance their mutual understanding, officials said Wednesday.The UAE is the first country to complete the "base-build" of its own pavilion at the Expo, with the exception of China's national pavilion, the state news agency WAM reported.The UAE pavilion will carry the Gulf nation's message to the people of China and many other countries, Saqr Ghobash, chairman of the National Media Council that is coordinating the project, was quoted as saying."We are particularly focused on the theme of Expo 2010 -- ' Better City Better Life' -- because we recognize that this resonates very deeply with the UAE's own experience," he said.Ghobash added that the UAE government and people have made huge strides towards creating a modern society that respects its past whilst embracing the present."We have much to share with our friends and partners in other countries. Expo 2010 provides an opportunity to do this and we are pleased to invite companies and organizations with commercial or other interests in China to participate with us in the six month long Expo 2010 in Shanghai," he said.Salem Al Ameri, commissioner general of the UAE pavilion, said there are still many opportunities for UAE companies to take advantage of the exposition."Whilst this is not a commercial exhibition in the usual sense of the word, it does offer many excellent opportunities for companies in the UAE and China to get to know each other better and to explore partnership or other opportunities. The UAE Pavilion offers a dedicated area for such exchanges and presentations," he said.

BEIJING, Feb. 19 (Xinhua) -- U.S. political rhetoric has recently been obsessed with the exchange rate of the renminbi. President Barack Obama has indicated on several occasions that he would take a tougher stance on this issue in order to address trade imbalances between his country and China.But does the renminbi hold the key to this issue? What are the backstage calculations behind those demands from Washington?RENMINBI A WRONG TARGETWhile addressing Democratic senators early this month, Obama said the issue of renminbi exchange rate must be addressed to ensure that American products will not be put into a huge competitive disadvantage given the fact that China is going to be one of America's biggest markets.In an interview with Businessweek on Feb. 10, Obama said he and Chinese leaders are going to have some "very serious negotiations" on the renminbi issue.Supporters of Obama include economists such as Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics. Those experts say China's huge trade surplus is a result of an undervalued renminbi. Appreciation of the Chinese currency, in their view, would re-balance China's international trade.However, the validity of such argument is questionable.The Japanese yen, for example, has been appreciated enormously against the U.S. dollar over the past 40 years. Yet Japan's trade surplus with the United States has been continuously on the increase over the same period.The case with the Japanese yen has clearly demonstrated that international payment is not necessarily entirely linked to currency exchange rates. International trade balance is rather determined by international division of labor and product competitiveness.Stephen King, chief economist of the HSBC bank, said it is unreasonable to simply attribute China's big trade surplus to an undervalued currency. China's high savings rate is a more important factor in this respect, he told Xinhua.Nobel Prize laureate Andrew Michael Spence shared King's argument."Reducing the surplus in China involves deep structural change, much as reducing the U.S. deficits does. China's high savings are embedded in the structure of the economy," Spence wrote in Jan. 21's Financial Times.Without structural change, an appreciation of the renminbi might well lead to continued high savings and slow economic growth in China, rather than to a reduction of China's trade surplus, he wrote.International Monetary Fund (IMF) chief economist Olivier Blanchard believes that renminbi appreciation is not a solution for the U.S. economy.According to an IMF model, the American GDP will grow by 1 percent when the renminbi appreciates by 20 percent and other major Asian currencies also appreciate by a similar margin, he told Xinhua."This would be good news for U.S. growth. But this is clearly not enough, by itself to sustain growth in the United States," said Blanchard.World Bank chief economist and Vice President Justin Yifu Lin also said that the appreciation of the renminbi will not solve the problem of trade imbalance between China and the United States. On the contrary, such a move might damage both economies.CHINA BASHING NOT HELPFULObama has frequently attacked China over the renminbi issue in recent months. His motives are thought-provoking.In an article titled "Obama bashes China in order to win midterm elections," Japanese weekly Choice pointed out that after one year in office, the U.S. president now faces a sharp drop in approval ratings, a double-digit unemployment ratio and the loss of Democratic "supermajority" in the Senate.Trying to win the midterm elections under such circumstances, Obama had moved toward a "China-bashing" policy since the end of last year, including imposing high tariffs on Chinese products and pressuring China on renminbi exchange rate.But the truth is China has become the largest victim of U.S. trade protectionism since the outbreak of the global financial crisis.According to statistics released by the United States International Trade Commission, there were roughly 50 trade remedy cases filed by the United States between January and November 2009, half of which targeted China.At the end of last year, Chinese Premier Wen Jiabao said in an exclusive interview with Xinhua that some foreign countries kept asking China to appreciate its currency while using various protectionist measures against China. Their real motive was to contain China's growth, he said.Wen reiterated that China will never yield to external pressures on the exchange rate issue.In essence, a country's exchange rate policy is a matter of sovereignty.During a meeting with a visiting delegation of U.S. Chamber of Commerce in May 2005, Wen made it clear that the reform of renminbi's exchange rate was a sovereign right of China, and that every country had the right to choose a foreign exchange system compatible to its own national conditions and a reasonable exchange rate level.Wen said China would obey the rules of a market economy, but would never give in under foreign pressure.Any foreign pressure or attempt to manipulate the issue via news media represented a politicization of economic issues, which was unhelpful, the premier added.George Gilder, founder of Discovery Institute, said that it is neither realistic nor helpful for the United States to raise the renminbi exchange rate issue again with China.Pieter Bottelier, former chief of the World Bank's Resident Mission in China, told Xinhua that China and the United States share broad common interests.A prosperous, stable and strong China is in the interests of the United States and vice versa, said Bottelier. The two nations need to settle their differences through various dialogue mechanisms, he added.In recent years, China has been making efforts to balance international. The renminbi has been steadily appreciated against the U.S. dollar and the euro.Between July 2005, when China began its renminbi exchange rate reform, and the end of 2009, the value of the renminbi has appreciated by 21.21 percent against the U.S. dollar and up by 2.21 percent against the euro.Under such circumstances, China has been the fastest growing export market for the United States in recent years.In 2009, U.S. exports to China amounted to 77.4 billion dollars, accounting for an increasingly larger share in the country's total exports.During the same period, U.S. trade deficits with China dropped by 16 percent year-on-year.In the Asian financial crisis of late 1990s, China won worldwide applause for keeping a stable exchange rate of the renminbi.In the ongoing global financial crisis, while the world's major currencies all lost value, China has remained committed to a responsible renminbi exchange rate policy and has made significant contributions to the recovery of the global economy.Many experts familiar to China-U.S. trade pointed out that in order to achieve trade balance, the United States should take positive and concrete steps, such as increasing hi-tech exports to China and allowing Chinese firms to acquire shares in U.S. financial and technology sectors.

BEIJING, March 8 (Xinhua) -- China will provide speedy visa processing for visitors to the upcoming World Expo, as well as more hotel space with help from surrounding cities, according to an organizer of the event.With support from the Foreign Ministry, it is already "an established policy" to provide quick visa processing for Expo visitors from around the world, said Zhou Hanmin, deputy director of the Shanghai 2010 World Expo Executive Committee, speaking here on Monday.He made the remarks at a press conference on the sidelines of the annual session of the National Committee of the Chinese People's Political Consultative Conference, the country's top advisory body. Zhou Hanmin, member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks during a news conference held by the Third Session of the 11th National Committee of the CPPCC on the 2010 Shanghai World Expo in Beijing, capital of China, March 8, 2010To receive the coming waves of visitors, a total of 550,000 beds will be available inside Shanghai during the Expo, and visitors can stay in nearby cities if Shanghai cannot hold all of them, said Zhou.To further assist, efforts have been made to provide easy transportation between Shanghai and its surrounding cities, he said.World Expo 2010, which is scheduled to be held in Shanghai from May 1 to October 31, is expected to attract 70 million visitors, of which more than 5 percent will come from abroad, according to Zhou.

BEIJING, March 11 (Xinhua) -- China's export is witnessing a steady recovery as shown by February figures, but uncertainties in the external market could still hamper the revival, political advisors said here Thursday.China's exports grew for the third straight month in February, up 45.7 percent year on year to 94.52 billion U.S. dollars, the General Administration of Customs announced Wednesday.The dramatic increase was a result of a lower comparison basis last year, said Ju Yalian, a member of the National Committee of Chinese People's Political Consultative Conference (CPPCC) and also a senior foreign trade official in the eastern Zhejiang Province, one of the country's key export regions."But compared with figures in the corresponding period in 2008, when China's foreign trade was yet to be hit by the global financial crisis, we could still see a remarkable increase," she said on the sidelines of the ongoing annual session of the CPPCC National Committee, the top political advisory body.China's exports rose 8.2 percent in February from two years ago while imports were up 9.8 percent.The increase indicated the country's continued economic recovery, and a trend of recovery in foreign trade, she said.However, Ju warned that the recovery in export could bring pressure of yuan appreciation and possible trade disputes.Liang Yaowen, head of the Department of Foreign Trade and Economic Cooperation of Guangdong, China's southern export powerhouse, also said that the condition is not "so optimistic", noting that China's foreign trade in February dropped 11.5 percent month on month.Commerce Minister Chen Deming said Saturday China's exports may need two or three years to return to the pre-crisis level, as "global recovery is still haunted by uncertainties.""Now it is still too early to say exports will see full-year growth this year," he said on the sidelines of the annual session of the National People's Congress (NPC), the country's top legislature.

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