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BEIJING, Jan. 13 (Xinhua) -- Top Chinese legislator Wu Bangguo on Wednesday said China and the United States should respect each other's core interests and properly handle sensitive affairs in a bid to preserve the sound development of bilateral ties. China and the United States should handle bilateral ties from a strategic and long-term point of view, said Wu, chairman of the Standing Committee of the National People's Congress (NPC), in a meeting with a U.S. senate delegation. Wu hailed the sound development of China-U.S. relations in 2009,saying it indicated a smooth transition from the Bush administration to the Obama's and the relationship between the countries was progressing well. He labeled the China-U.S. relationship as "one of the world's most important" during the half-hour meeting in the Great Hall of the People in downtown Beijing. Wu pledged to further the exchanges between the two country's parliaments in a bid to promote strategic mutual trust, mutually beneficial cooperation and friendship between the two peoples. The delegation, headed by Senator Patty Murray, was in Beijing for a meeting under a regular exchange mechanism between the two parliaments, in which the two sides discussed such topics as bilateral ties, parliamentary exchanges and climate change. The U.S. senators highlighted the importance of relations with China, promised to enhance communication and dialogue with the NPC so as to promote mutual understanding.
LONDON, March 15 (Xinhua) -- U.S. President Barack Obama's pressure on China over its currency's exchange rate is a manifestation of hypocrisy from the West and will not work, a British economist has said."The president is playing with fire... Obama really should tread carefully. At the same time, the United States is now at risk of sparking what could be an all-out trade war," said Liam Halligan in an article carried by this week's Sunday Telegraph.Halligan, chief economist at Prosperity Capital Management, predicted that China will not yield to U.S. pressure on the issue."Beijing will eventually allow the yuan to rise, but in its own time and in order to tackle inflation and not because of U.S. pressure."Chinese inflation is now at 2.7 percent, close to the official 3-percent control target, he noted.Halligan argued that the Chinese yuan may not be under-valued as much as Western politicians have perceived.Although Chinese exports rose by 46 percent in the first two months of 2010, the rise is from a very low base -- with February 2009 being the epicenter of the U.S.-sparked sub-prime storm, he noted.He also pointed out the fact that China's trade surplus dropped by 51 percent in the same period. That means China's gain in exports were out-weighed by an import surge."This hardly suggests the yuan, as (U.S. Treasury Secretary Tim) Geithner claims, is 'way too low'," said Halligan.Geithner said in January that Obama believed China was manipulating its currency.On Obama's latest call for China to adopt a more "market-oriented exchange rate," Halligan said Washington is actually the biggest currency manipulator in the world."The reality is that America's 'weak dollar' policy -- its long-standing practice of allowing its currency to depreciate in order to lower the value of its foreign debts -- amounts to the biggest currency manipulation in human history."Halligan also noted that Washington has for years "shamefully stalled" on various rulings of the World Trade Organization that showed America to be breaching global trade rules."America needs to act smarter and get its own economic house in order. Obama has decided instead to lash out at China in a desperate attempt to placate a U.S. electorate increasingly mindful of their president's failings," said Halligan.The economist said Western politicians' blame game against emerging markets over the current global imbalances reflects their hypocrisy and lack of character."It's always easier to blame someone else for your failings... The Western world's response to this self-made 'credit crunch' has highlighted the hypocrisy of our so-called leaders, their refusal to face reality and, above all, their lack of character," he said."The implication (of statements of Western politicians) is that sub-prime, and the deepest Western recession in generations, wasn't our fault. It was entirely unrelated to widespread financial fraud, political myopia and lax regulation," Halligan scorned.

BEIJING, Feb. 4 (Xinhua) -- China and Switzerland held their first study meeting on the feasibility of a Free Trade Area (FTA) in Beijing on Thursday, China's Ministry of Commerce (MOC) said in a statement on its website.The meeting will continue until Friday, the department of international trade and economic affairs of the MOC told Xinhua.According to MOC statistics, bilateral trade between China and Switzerland topped 11.3 billion U.S. dollars in 2008.Although the two-way trade volume dropped slightly on account of the global economic downturn in 2009, the decline rate was small.Official figures also show that Switzerland is China's ninth largest European trade partner, while China is Switzerland's fourth largest global trade partner.
BEIJING, March 5 (Xinhua) -- Chinese President Hu Jintao on Friday called for efforts toward balanced, coordinated and sustainable development in the transformation of its economic growth pattern.Hu made the remarks when joining a panel discussion on Premier Wen Jiabao's government work report with deputies to the National People's Congress, the top legislature, from the eastern province of Jiangsu.Hu said efforts should be made to cultivate new pillar industries and industries with features and advantages, and achieve the coordinated development of the first, second and third industries.Chinese President Hu Jintao (C) talks with deputies to the Third Session of the 11th National People's Congress (NPC) from east China's Jiangsu Province, in Beijing, capital of China, March 5, 2010. Hu Jintao joined in the panel discussion of Jiangsu delegation in deliberating the government work report by Premier Wen Jiabao on the opening day of the Third Session of the 11th NPC.The country needed to develop more core and key technologies to support its transformation of the economic growth pattern and the economic restructuring, he told the lawmakers.He called for the establishment of a market-oriented technological innovation system, in which enterprises play the leading role and which combines the efforts of enterprises, learning and research institutes.He said higher education and research institutes should play a more important role in scientific and technological innovation.The President also stressed the coordination of industrialization, urbanization, and agricultural modernization, so that the agricultural sector could be boosted by the industrial sector, while the rural areas could benefit from the urban regions.He said authorities should facilitate balanced allocation of public resources and the free flow of production factors between urban and rural areas.Hu pointed out that China was currently facing both opportunities and challenges at the same time, but the opportunities outweighed challenges.He urged officials in the Jiangsu Province to push forward independent innovation, promote urban-rural integration of economic and social development, and deepen the reform and opening-up drive.
SHANGHAI, Jan. 22 (Xinhua) -- China's top political advisor Jia Qinglin Thursday called on Shanghai World Expo organizers to be determined to stage a successful, brilliant and memorable event.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks at a ceremony hosted here to mark the 100-day countdown for the six-month-long mega event. Jia Qinglin (front), chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, delivers a speech as he attends a mobilization meeting of the World Expo 2010 in Shanghai, east China, Jan. 21, 2010. Shanghai Expo entered its 100-day countdown on Jan. 21. The ceremony was attended by more than 6,000 people including members from the Expo organizing committee, volunteers, security staff, participating enterprises and sponsors.Jia said, the Expo would witness the remarkable improvement of China's economic strength, scientific and technological strength and international status.The expo would boost economic and cultural exchanges between China and the world, and be conducive to the recovery of world economy, said Jia. Jia Qinglin (C), chairman of the Chinese People's Political Consultative Conference (CPPCC) National Committee, attends a mobilization meeting of the World Expo 2010 in Shanghai, east China, Jan. 21, 2010. Shanghai Expo entered its 100-day countdown on Jan. 21.Jia called for stepped-up efforts to ensure prompt completion of all venues, seamless security work and quality services.In a separate meeting, Chinese Vice Premier Wang Qishan called for vigilance in the preparations for the Expo. "Organizers should detect problems and deal with them in a timely manner."Wang is also head of Shanghai World Expo Organizing Committee.The 2010 Shanghai World Expo is scheduled for May 1 to Oct. 31. To date, 192 countries and 50 international organizations have confirmed their participation in the global feast that presents latest advances of architecture and engineering worldwide.
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