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WASHINGTON, April 12 (Xinhua) -- Chinese President Hu Jintao said Monday that China would firmly stick to the path of reforming its currency exchange rate formation mechanism based on its own economic and social development needs.Hu said detailed measures for reform should be considered in the context of the world's economic situation, its development and changes, as well as China's economic conditions."RMB appreciation would neither balance Sino-U.S. trade nor solve the unemployment problem in the United States," Hu told U.S. President Barack Obama.Chinese President Hu Jintao (L) meets with U.S. President Barack Obama in Washington April 12, 2010. President Hu Jintao arrived in Washington on Monday to attend the Nuclear Security Summit slated for April 12-13.The Chinese leader said his country does not intend to pursue a trade surplus over the United States.China would like to take additional measures to increase imports from the United States, Hu said, urging the United States to loosen its export control over high-tech products so that exports to China could be increased.He expressed the hope that trade frictions between the two countries can be solved through negotiations so that Sino-U.S. economic and trade cooperation can be maintained.President Hu also said the advancement of Sino-U.S. economic and trade ties, an important part of the two countries' relations, would benefit not only China, but also the United States, as well as the world's economic development.
BEIJING, May 29 -- The Asian Development Bank (ADB) has called on Asian economies to strengthen their infrastructure investment through an effective financing framework to achieve higher and more sustainable growth.To that end, the bank said that as much as 0 billion would have to be invested annually in infrastructure across the region from 2010 to 2020. This means that around .25 trillion would be invested in that period in national and cross-regional infrastructure projects."In view of Asia's enormous untapped economic potential and the global financial crisis, now is the time to build efficient and seamless connections across Asia and with the rest of the world for a more competitive, prosperous and integrated region," said Masahiro Kawai, dean and CEO of the ADB Institute.A man working at the construction site of a railway line in Hainan province. The required infrastructure investment in the next 10 years is expected to produce income gains of about trillion across Asia.To meet the financing needs, the region could build an effective framework to mobilize its vast domestic savings as the main source, while encouraging private financing and participation involving public-private partnerships through "bankable" projects, said Kawai.He also suggested the strengthening of national and regional local currency bond markets, notably through the Chiang Mai Initiative, the Association of Southeast Asian Nations + 3 bond market initiative, and the Asian Bond Fund.

BEIJING, April 1 (Xinhua) -- Chinese Vice Premier Hui Liangyu Thursday urged authorities to make provision of drinking water for people in drought-hit southwest China a top priority.Hui's call followed arrangements for combating the expanding drought laid out at a State Council, or Cabinet, meeting in Beijing."As the drought in southwest China continues, our fight against the disaster and the relief work remain onerous," he said."We must do everything we can to get water by taking measures such as artificial precipitation, digging wells and finding new water sources," he said.He also asked officials to invest more in building water conservancy facilities to solve the "bottleneck problems" of agricultural production.As of Tuesday, the expanding severe drought had left 24.25 million people and 15.84 million farm animals short of water, Vice Minister of Water Resources Liu Ning said Wednesday.The drought started in September last year in southwest China, with Yunnan Province being the worst affected region. Ocassional rainfall in these areas has done little to alleviate it.
GOTHENBURG, March 28 (Xinhua) -- Chinese Vice President Xi Jinping on Sunday visited an industry hub in southwest Sweden and met with Vastra Gotaland County Governor Lars Backstrom.In his meeting with Lars Backstrom and Swedish Deputy Prime Minister Maud Olofsson, Xi said that this year marks the 60th anniversary of the establishment of diplomatic relations between China and Sweden and that his on-going visit to Sweden is aimed at further promoting friendly cooperation between the two countries through celebrating the anniversary. Chinese Vice President Xi Jinping (L, front) meets with Governor Lars Backstrom (R, front) of Vastra Gotaland County in Goteborg, Sweden, March 28, 2010Both the city of Gothenburg and Vastra Gotaland County with an important place in Sino-Swedish friendly exchanges and cooperation have played an irreplaceable role in the development of ties between the two countries, Xi said.
PYONGYANG, April 3 (Xinhua) -- The Democratic People's Republic of Korea (DPRK) top leader Kim Jong Il hosted a dinner party on Saturday for new Chinese ambassador Liu Hongcai, Chinese embassy diplomats and the visiting Chinese Tianjin Women's Volleyball Team.The Workers' Party of Korea (WPK) Central Committee Secretary Kim Ki Nam said in his address the traditional DPRK-China friendship, which was fostered by the elder generations of the two countries' leaders, had developed to new levels under the guidance of WPK General Secretary Kim Jong Il and Communist Party of China (CPC) Central Committee General Secretary Hu Jintao.Liu said China wanted to make more effort with the DPRK side for continuous consolidation and development of the China-DPRK friendship and cooperation.WPK Central Committee Secretary Choe Thae Bok, DPRK Foreign Affairs First Vice-Minister Kang Sok Ju and other major WPK and DPRK military officials were present at the party, at which the Chinese and DPRK sides sang national songs.Before the party, Choe, Kim Ki Nam and Liu watched a friendly match between the Tianjin volleyball team and the 4.25 Women's Volleyball Team of the DPRK.
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