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BEIJING, Feb. 11 (Xinhua) -- China's foreign exchange regulator said Friday it did not suffer any losses from its investment in Fannie Mae and Freddie Mac bonds, adding that media reports of up to 450 billion U.S. dollars of losses were "groundless.""Up until now, the capital and interest repayments of Fannie Mae and Freddie Mac bonds is normal, and no losses have incurred," The State Administration of Foreign Exchange (SAFE) said on its website.Annual yields of the bonds were around 6 percent between 2008 and 2010, the SAFE said.The regulator, which oversees China's more than 2 trillion U.S. dollars of foreign exchange reserve, also clarifies it had not bought any stocks of the two troubled mortgage companies.UPI reported on Friday that the Obama Administration will propose phasing out the two mortgage giants after rescuing them, which is part of a U.S. Treasury Department white paper to Congress that lays out three ways of cutting government support to the 10.6 trillion U.S. dollars mortgage market.
WASHINGTON, Jan. 19 (Xinhua) -- China and the United States have agreed to further boost their bilateral relationship toward a cooperative partnership for the benefit of the whole world, President Hu Jintao said Wednesday.The visiting Chinese leader presented the course forward at a joint press conference at the White House with his U.S. counterpart Barack Obama following their eighth meeting in two years.During the talks, conducted in "a candid, pragmatic and constructive atmosphere," the two sides reached "important agreement on China-U.S. relations and major international and regional issues of shared interests," according to the Chinese president.Chinese President Hu Jintao (2nd L) holds a bilateral meeting with U.S. President Barack Obama (2nd R) at the White House in Washington, the United States, Jan. 19, 2011. "We both agree to further push forward the positive, cooperative and comprehensive China-U.S. relationship," Hu said, adding that both sides also pledged to forge "a China-U.S. cooperative partnership based on mutual respect and mutual benefit" for the benefit of the two countries and beyond.Meanwhile, the two sides "should firmly adhere to the right direction," respecting each other's core interests and handling their relations with a long-term perspective, which will enable both countries to make greater contributions to world peace and development, he said.Citing the growing number of global challenges, the Chinese president stressed that Beijing and Washington "share expanding common interests and shoulder increasing common responsibilities."Accordingly, he added, the two sides have agreed to strengthen exchanges and cooperation in economy, trade, environment, education, science and technology, non-proliferation and counter-terrorism among many other fields.During Hu's ongoing state visit, the two countries signed a number of cooperation agreements. "These will inject fresh momentum into our bilateral cooperation and create a great many job opportunities for our two countries," Hu said.He added that he and Obama also discussed some disagreements in the economic and trade area, with both sides pledging "to continue to appropriately resolve these according to the principle of mutual respect and consultation on an equal footing."Commenting on the relations between the countries's armed forces, Hu said, "We believe expansion of military exchanges and cooperation will be conducive to deepening mutual trust between our two countries."On the situation on the Korean Peninsula, he said that both countries agreed to work together with relevant parties to maintain peace and stability on the peninsula, promote denuclearization of the peninsula and achieve lasting peace and security in Northeast Asia.The Chinese leader reaffirmed China's firm commitment to the path of peaceful development and a win-win strategy of opening up, and appreciated Obama's commitment to a positive and constructive China policy."China is a friend and partner of all countries, and China's development is an opportunity for the world," he said.
BEIJING, Jan. 26 (Xinhua) -- Chinese Premier Wen Jiabao Wednesday invited more foreign talents to continue their careers or start businesses in China, pledging better conditions for them.During a seminar with more than 20 veteran foreign experts at the Great Hall of the People a week before the Chinese New Year, Wen thanked the foreign friends for their contributions to China's achievements in 2010.Wen said 2011 is a new starting point for China's modernization, as the country implements its 12th five-year plan for economic and social development."China's development is much more associated with the world and the supply of talents than before," Wen said, adding that China will adopt a more open policy to attract overseas experts.Last year, foreign experts made more than 300,000 visits to China, according to Ji Yunshi, general director of the State Administration of Foreign Experts Affairs.
DAVOS, Switzerland, Jan. 29 (Xinhua) -- China is ready to push the decade-long Doha Round negotiations for a final success, Chinese Minister of Commerce Chen Deming said here on Saturday.Speaking at the World Trade Organization (WTO) Mini-Ministerial Meeting which brought together representatives from over 20 major trading powers, Chen said that China is ready to collaborate with other WTO members in a practical and proactive manner so as to draw a successful conclusion of the Doha Round talks by the end of 2011.A rapid conclusion of the negotiations, Chen said, will be beneficial to global economic recovery, which is to the interest of all.The commerce minister acknowledged the year 2011 as a "window of opportunity," albeit a narrow one."China will give support to the roadmap proposed by WTO Director-General Pascal Lamy," he said, adding that the country is willing to act vigorously to push forward the negotiation process.To ensure that an early final deal could be in reach, Chen said, parties should set goals in a practical manner, in accordance with the ambition level, and stick to what has been achieved as well as the Doha Development Agenda (DDA), while focusing primarily on pending issues.Held on the sidelines of the annual World Economic Forum, the WTO Mini-Ministerial Meeting is an annual event under the auspices of the Swiss Federal Government.Chen on Friday also joined discussions with his counterparts from the emerging club -- India, Brazil and South Africa, before attending the trade G7 meeting, consisting of Australia, Brazil, China, the European Union, India, Japan and the United States.
ADDIS ABABA, Jan. 28 (Xinhua) -- Fruitful results have been achieved some one year after the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC), Chinese envoy and Assistant Foreign Minister Liu Zhenmin told Xinhua here on Friday.Liu was in the Ethiopian capital Addis Ababa to attend the 16th African Union (AU) summit as special envoy of the Chinese government.During the FOCAC ministerial meeting held in November 2009 in Sharm el-Sheikh, Egypt, the Chinese government announced eight new measures of promoting Sino-African cooperation.Since then, China has been actively implementing various programs and projects according to the eight new measures, Liu said.The “China-Africa Science and Technology Partnership Program” and the “China-Africa Joint Research and Exchange Program” have been launched, Liu said, adding that the aid program of agricultural demonstration center is in smooth implementation process.Meanwhile, China is actively working on establishing the China-Africa partnership in addressing climate change, and is strengthening communication and coordination with Africa on the issue of climate change, Liu said.The Chinese envoy added that various programs and events such as the China-Africa Agricultural Cooperation Forum, the “African Culture in Focus 2010” activities, and the “20+20 Cooperation Plan of Chinese and African Institutions of Higher Learning” have been launched or successfully held. He said these events have promoted the comprehensive development of China-Africa relations.A wide range of other measures are also being carried out in an active manner, according to Liu.The year 2011 is key to the implementation of the measures announced on the fourth ministerial meeting of FOCAC, Liu stressed.To this end, China will continue strengthening communication and coordination with African countries, carrying out close cooperation and pushing forward the development of the China-Africa new strategic partnership, he pledged.