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BEIJING, Dec. 1 -- Premier Wen Jiabao Monday rejected "unfair" calls from European countries for faster reform of China's currency policies, despite lobbying from EU financial chiefs at the weekend."Some countries demand the yuan's appreciation while practicing various trade protectionism against China. It's unfair and actually limits China's development," Wen told reporters in Nanjing, Jiangsu province.     European Commission President Jose Manuel Barroso and Swedish Prime Minister Fredrik Reinfeldt, whose country holds the rotating EU presidency, were also at the press conference. Chinese Premier Wen Jiabao delivers a speech at the closing ceremony of the fifth China-EU Business Summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009.    Wen's unusually direct response followed a one-and-a-half hour summit between China and the EU, which has 27 member-nations. The summit ended with five agreements mainly on energy and environmental cooperation.     But it also ended without a breakthrough on issues that have brought stalemate between the sides, such as trade disputes and arms embargoes.     Wen said China will keep the yuan basically stable and carry out currency reform at its own, gradual pace.     A stable yuan is not only good for the Chinese economy but the world, Wen said.     The meeting took place against the backdrop of concern about the rising euro and the possibility it might derail the recovery in Europe, which imports heavily from China.     The yuan began gaining against major currencies after a set of exchange rate reforms were introduced in July 2005. After rising nearly 20 percent against the US dollar, it hovered around 6.83 to the US dollar for about a year. In the past month or so, the euro has risen to a 15-month high.     Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker joined other European leaders in lobbying China's senior officials.     The Chinese officials explained that it was difficult to make a case for "immediate renminbi appreciation" in a country where 40 million people live on less than 1 U.S. dollar a day. Chinese Premier Wen Jiabao (C), European Commission President Jose Manuel Barroso (R) and Swedish Prime Minister Fredrik Reinfeldt (L), whose country currently holds the rotating EU presidency, meet with the press after the 12th China-EU summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. The failure of the EU appeal was expected because Europe was only thinking about itself, claimed Wu Baiyi, a European studies expert at the Chinese Academy of Social Sciences.     Zhao Junjie, Wu's colleague, said that while China is not able to quickly change its currency policy, Beijing had made efforts in the past year to fill the EU trade gap.     "Actually, some of the goods bought by the dozen purchasing groups that China sent to the EU during the past year were bought only for the sake of the EU," he said. "But the EU still wants more."     Glenn Maguire, chief Asia-Pacific economist at Societe Generale SA in Hong Kong, told Bloomberg: "China will only adjust on its own terms and in its own time. It's decided that now is not the time to do that."     Despite lingering disputes, including trade protectionism and the EU's ban on the transfer of technology to China, Wen Monday raised expectations for improved relations with Beijing's largest trading partner.     "China and Europe walking together hand-in-hand will make the steps of humankind more steady, and that best illustrates the strategic significance of our ties," said Wen.     Barroso and other EU leaders Monday also applauded fresh Chinese commitments on countering climate change.     Stanley Crossick, founding chairman of the European Policy Centre, said Europe will need to commit to lifting its arms embargo against China.     "Beijing is right that listing China among a handful of embargoed pariah states is totally inconsistent with the treatment of a strategic partner," he said.     Crossick suggested that EU officials be trained in contemporary China and taught Mandarin.     Wen opened the door to better understanding Monday, announcing that 2011 will be the year for China-EU youth communication and the establishment of other youth and cultural exchange mechanisms.

BEIJING, Oct. 26 -- Shanghai has applied to regulators to launch a free exchange between the yuan and the New Taiwan dollar to enhance financial cooperation, the head of the Shanghai Financial Service Office said Sunday.     "With growing trade between Shanghai and Taiwan in recent years, we hope that a free exchange between the yuan and the New Taiwan dollar can be conducted in Shanghai as a trial," said Fang Xinghai at the 6th China International Finance Forum.     "We have applied to the regulators and expect it will be approved soon," Fang said at the two-day forum which ended Sunday.     Shanghai has recently launched a cross-border currency clearing system and Fang expects that it will be extended to Taiwan soon.     By the end of April, Taiwan had invested 5 billion U.S. dollars in more than 6,000 projects in Shanghai, and trade between the two sides totaled 13.68 billion dollars in the first eight months of this year.     Although the two sides must overcome some barriers in financial cooperation, Fang said they can explore possibilities in innovative products, such as exchange-traded funds that enable investors to buy or sell shares in an entire benchmark portfolio.     "The Shanghai Stock Exchange is making efforts to introduce ETFs based on overseas equity indices (and) we can also expect Taiwan and the mainland to introduce ETFs based on each other's index," Fang said.     The two sides can also cooperate in sectors that are not directly supervised by the central government, such as venture capital.     "Taiwan is very successful in the venture capital sector, while the Chinese mainland is still in the first stage. Policies have now been eased so that Taiwan VC firms can set up branches on the mainland," Fang noted.     The Chinese mainland and Taiwan in April sealed a cooperative financial regulatory mechanism.

BEIJING, Dec. 1 -- Premier Wen Jiabao Monday rejected "unfair" calls from European countries for faster reform of China's currency policies, despite lobbying from EU financial chiefs at the weekend."Some countries demand the yuan's appreciation while practicing various trade protectionism against China. It's unfair and actually limits China's development," Wen told reporters in Nanjing, Jiangsu province.     European Commission President Jose Manuel Barroso and Swedish Prime Minister Fredrik Reinfeldt, whose country holds the rotating EU presidency, were also at the press conference. Chinese Premier Wen Jiabao delivers a speech at the closing ceremony of the fifth China-EU Business Summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009.    Wen's unusually direct response followed a one-and-a-half hour summit between China and the EU, which has 27 member-nations. The summit ended with five agreements mainly on energy and environmental cooperation.     But it also ended without a breakthrough on issues that have brought stalemate between the sides, such as trade disputes and arms embargoes.     Wen said China will keep the yuan basically stable and carry out currency reform at its own, gradual pace.     A stable yuan is not only good for the Chinese economy but the world, Wen said.     The meeting took place against the backdrop of concern about the rising euro and the possibility it might derail the recovery in Europe, which imports heavily from China.     The yuan began gaining against major currencies after a set of exchange rate reforms were introduced in July 2005. After rising nearly 20 percent against the US dollar, it hovered around 6.83 to the US dollar for about a year. In the past month or so, the euro has risen to a 15-month high.     Euro Group President and Luxembourg Prime Minister Jean-Claude Juncker joined other European leaders in lobbying China's senior officials.     The Chinese officials explained that it was difficult to make a case for "immediate renminbi appreciation" in a country where 40 million people live on less than 1 U.S. dollar a day. Chinese Premier Wen Jiabao (C), European Commission President Jose Manuel Barroso (R) and Swedish Prime Minister Fredrik Reinfeldt (L), whose country currently holds the rotating EU presidency, meet with the press after the 12th China-EU summit in Nanjing, capital of east China's Jiangsu Province, Nov. 30, 2009. The failure of the EU appeal was expected because Europe was only thinking about itself, claimed Wu Baiyi, a European studies expert at the Chinese Academy of Social Sciences.     Zhao Junjie, Wu's colleague, said that while China is not able to quickly change its currency policy, Beijing had made efforts in the past year to fill the EU trade gap.     "Actually, some of the goods bought by the dozen purchasing groups that China sent to the EU during the past year were bought only for the sake of the EU," he said. "But the EU still wants more."     Glenn Maguire, chief Asia-Pacific economist at Societe Generale SA in Hong Kong, told Bloomberg: "China will only adjust on its own terms and in its own time. It's decided that now is not the time to do that."     Despite lingering disputes, including trade protectionism and the EU's ban on the transfer of technology to China, Wen Monday raised expectations for improved relations with Beijing's largest trading partner.     "China and Europe walking together hand-in-hand will make the steps of humankind more steady, and that best illustrates the strategic significance of our ties," said Wen.     Barroso and other EU leaders Monday also applauded fresh Chinese commitments on countering climate change.     Stanley Crossick, founding chairman of the European Policy Centre, said Europe will need to commit to lifting its arms embargo against China.     "Beijing is right that listing China among a handful of embargoed pariah states is totally inconsistent with the treatment of a strategic partner," he said.     Crossick suggested that EU officials be trained in contemporary China and taught Mandarin.     Wen opened the door to better understanding Monday, announcing that 2011 will be the year for China-EU youth communication and the establishment of other youth and cultural exchange mechanisms.

BEIJING, Dec. 31 (Xinhua) -- Chinese Vice President Xi Jinping Thursday urged improving the quality of Party officials at grassroots level.     Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks here while meeting with Wang Boxiang, former secretary of a county committee of the CPC, whom Xi described as the model of such officials in the new period.     Wang, born in 1943, has been a local official for more than 30 years and won praises for keeping a just and thrifty working style.     From 1986 to 1991, he was Secretary of the Shouguang County Committee of the CPC in east China's Shandong Province. He led local people to promote greenhouse vegetable production, develop alkaline soil, and launch industrial projects, which greatly boosted local economic growth and solved the imbalance of development between north and south of the county.     Xi said Wang helped build a solid material foundation for the county's development and won acclaim from both local officials and people with his hard work and uncorrupted behaviors.     Xi called upon other Party members and officials to learn from Wang and seek benefits for people while at the same time maintain a clean style in life and work.

BEIJING, Nov. 25 (Xinhua) -- A Chinese diplomat told reporters Wednesday a substantial content is more important than the title of the outcome of the forthcoming climate talks in Copenhagen, Denmark.     The key to success of the conference is to uphold the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol, the principle of "common but differentiated responsibilities" and the Bali Road Map, said Yu Qingtai, special representative of the Foreign Ministry for the UN climate change talks.     "No matter what the title of the conference outcome will be, we must follow the principles of the UNFCCC and the Bali Road Map," Yu said.     He said China's determination in coping with climate change has never wavered and it has never relaxed efforts in this regard though the global financial crisis has posed a severe challenge for the country's economic growth.     However, it is unfair to make developing countries shoulder the same responsibilities as rich countries on emission reduction, Yu said.     "The principle of 'common but differentiated responsibilities' is the foundation for international cooperation, and denial of the principle undermines the basis for international partnership," Yu said.     "Common but differentiated responsibilities" was set up in the UNFCCC, which was signed by more than 150 countries in 1992.     In less than two weeks, the 15th Conference of the Parties of the UNFCCC will open in Copenhagen to renew greenhouse gas emissions reduction targets set by the UNFCCC Kyoto Protocol, the first stage of which expires in 2012.