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BEIJING, Jan. 14 (Xinhua) -- China will increase the flexibility of the yuan exchange rate and further push forward the opening-up of its financial markets, a senior central bank official said Friday.China will continue the reform of the yuan exchange rate mechanism and keep the rate basically stable at a reasonable and balanced level, Li Dongrong, assistant governor of the People's Bank of China, said at a forum. The speech was posted on the central bank's website.The Chinese yuan strengthened to a record high against the U.S. dollar Friday, the central parity rate reaching 6.5896, the second straight day it has been set below 6.6 per dollar, according to the China Foreign Exchange Trading System.The currency has risen by more than 3 percent since the country's central bank announced in June 2010 it would further reform the yuan exchange rate formation mechanism to improve its flexibility.Li also said the central bank will work to expand trials of cross-border yuan settlement, to facilitate trade and investment.The central bank will promote the policy of allowing exporters to park their foreign revenue overseas, Li said, adding that it will further develop the foreign reserves market and create tools to hedge exchange rate risk.Li's speech came after the central bank announced Thursday the nation's qualified businesses and banks may settle their overseas direct investment in yuan, a move that expands the Chinese currency's global reach and eases excess domestic liquidity concerns.Li also voiced concern about loose credit globally, saying such policies are adding to capital-inflow and currency-appreciation pressures, leading to asset bubbles in some emerging economies.China still faces many challenges, Li said. "Expectations for inflation are rising. Housing prices are still high in some cities. Pressure from continuous inflows of foreign capital is increasingly evident," he said.The central bank will soundly manage money supply and maintain reasonable growth in credit, he added.

BELGRADE, Nov. 23 (Xinhua) -- Celebrating 30 years of cooperation and fraternal relations between the capitals of Serbia and China, an art exhibit entitled "The Beauty of Beijing" was opened in the Old Palace in Belgrade on Tuesday.Belgrade Mayor Dragan Djilas extended a welcome to the visiting Beijing delegation, underscoring years of cooperation and cultural exchanges."For us the bridge we are going to build together is important, along with our cultural components which will complement our desire for Belgrade in 2020 to be the European 'cultural capital'," said Djilas, making reference to the 1,507-meter bridge over the Danube River to be constructed by Chinese firms. The total value of the contract is 170 million Euros and its completion date is 2013.The original cooperation agreement between Beijing and Belgrade was signed in October 1980, with the aim of boosting cooperation in the fields of economics, urban planning, utilities, health, education, culture, tourism and sport.Ma Zhipeng, senior advisor to the city of Beijing, said cooperation between the twin cities has been expanding over the last three decades.He said the art exhibit, with its 50 paintings divided into four thematic sections, would allow the citizens of Belgrade to become more familiar with the Chinese capital."On the occasion of the festive celebrations, in addition to the exhibition, the Belgrade Chamber of Commerce and Beijing signed an agreement on cooperation, which will provide a platform for economic cooperation between the two cities," said Ma.In addition to the art exhibit, the Orchestra "Huaxia" performed a collection of classic Chinese musical pieces with traditional instruments. 

BEIJING, Nov. 23 (Xinhua) -- China aims to better protect lawyers' rights and facilitate their work through enhanced financial and policy support, according to the Ministry of Justice.The ministry also intends to intensify supervision on the work of lawyers and law firms against unsound practices, it said on Tuesday.Efforts will be made to better protect lawyers' rights to meet with their clients in police custody and facilitate their rights to review documents, conduct necessary investigations and collect evidence, the ministry said in a written interview with Xinhua Tuesday.The ministry, which has recently issued a circular on its proposal to further improve the work concerning lawyers, called for a system to guarantee funding for lawyers' work."Lawyers should be subsidized if working as legal advisors to the government or providing legal services for the public interest," the ministry said.Also, government agencies are urged to continue their financial support for those government-funded law offices in underdeveloped regions of the country and offer more funding for lawyers' training.The ministry called on courts and prosecution agencies to recruit more judges and prosecutors from outstanding lawyers and encouraged government bodies to select more qualified lawyers to work as civil servants.Meanwhile, China will improve the evaluation of lawful practices undertaken by the country's lawyers and increase supervision over the work of law offices and lawyers, according to the ministry."Judicial administration departments should conduct annual checks of law firms' work while bar associations should check lawyers' lawful practices every year," it said.It called for intensified checks for unsound practices of law firms or lawyers, including those of undermining justice in law enforcement, public order, or legal rights and interests of the masses."Lawyers who ignore or violate laws and regulations governing lawyers' practices should be dealt with seriously, including expulsion from the legal profession," the ministry said.Conditions and procedures which applicants should meet and pass before becoming certified lawyers must be strictly followed, the ministry said.According to the ministry, the number of certified lawyers and law firms in China exceeded 166,000 and 15,000, respectively, at the end of 2009.

LONDON, Jan. 11 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang on Tuesday met here with Britain's Labor Party Leader Ed Miliband.Li praised the Labor Party for pursuing a positive China policy and contributing to the development of Sino-British relations.The Labor Party has made great contributions to the development of bilateral ties, Li said. During the previous Labor government, the two countries established the Sino-British comprehensive strategic partnership, made great progress on issues of common concern, promoted sustained economic and trade exchanges, and deepened dialogue and cooperation in various fields.Li expressed hope that the Labor Party will continue to enhance bilateral cooperation and communication, and play an active role in promoting a long-lasting, stable and sound relationship between the two countries.For his part, Miliband spoke highly of China's achievement and contribution to world economic growth, saying that his party attaches importance to relations with China and supports the British government's policy to develop strong British-Sino relations.Both sides also exchanged views on global and regional issues such as the international economic situation and climate change.

来源：资阳报