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BEIJING, March 8 (Xinhua) -- Chinese President Hu Jintao urged scientific development of the Binhai New Area, an economic powerhouse in north China, when joining a panel discussion with lawmakers from Tianjin Municipality.It is urgent to accelerate the transformation of the economic development pattern and promote growth led by innovation and driven by internal impetus, Hu told the deputies to the National People's Congress (NPC), China's supreme legislature.Lying between Beijing and the Bohai Gulf, the Binhai New Area, with a population of 1.4 million, is an economic engine that drives the development of the country's north. Chinese President Hu Jintao talks with deputies to the Third Session of the 11th National People's Congress (NPC) from Tianjin Municipality, in Beijing, capital of China, March 8, 2010.The new area should play a leading role in the country to implement the scientific outlook on development and focus on improving people's livelihood and solving problems that the public care the most, Hu said.The city should seek coordinated social and economic development, and continuously strengthen its capabilities in urban planning, construction and management to build Tianjin into an international and modern city where people enjoy living.Wu Bangguo, chairman of the Standing Committee of the NPC, joined a panel deliberation on the draft amendment to the Electoral Law with lawmakers from the southwestern Yunnan Province.He said the electoral system is an important basis of the people's congress system and an important content of the socialist path of political development with Chinese characteristics."We must bring into better play the advantages of the electoral system with Chinese characteristics," Wu told the deputies.While joining a panel deliberation with NPC deputies from the eastern Shandong Province, Premier Wen Jiabao called for balanced development between urban and rural areas.The province should make efforts to expand export of its farm produce and help manufacturing businesses go through difficult times and upgrade their production capability, Wen said.Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), joined a panel discussion of political advisors from science and technology circles.Jia said science and technology workers should make efforts to advance innovation and contribute to the country's transformation of economic growth pattern.Speaking to NPC deputies from Fujian Province, Li Changchun, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, called for vigorous publicity efforts on the transformation of the economic development pattern.Vice Premier Li Keqiang told NPC deputies from Hainan Province to continue the efforts in developing the island into an international tourism destination.He said the province should develop tropical agriculture and marine economy, and strengthen energy conservation and environment protection.Zhou Yongkang, member of the Standing Committee of the Political Bureau of the CPC Central Committee, joined the deliberation of the government work report with deputies from the Xinjiang Uygur Autonomous Region.He said the region must "seize the historic opportunity, as the central authorities' conference on the work of Xinjiang approaches, ...to build a prosperous, harmonious and stable society in Xinjiang."The annual full sessions of the CPPCC National Committee and NPC opened in Beijing last Wednesday and Friday.

BEIJING, Jan. 8 (Xinhua) -- The move by the United States of selling arms to Taiwan brings chilly air to the warming China-U.S. relationship as well as military exchanges.The U.S. government on Friday announced the plans to sell a package of arms to Taiwan, which include Patriot missiles, Black Hawk helicopters and minesweepers. China immediately expressed strong indignation about the sale after the U.S. government notified the U.S. Congress of the plans.China slammed the U.S. move, pointing out it has violated the three Sino-US joint communiques, especially the principles established in the Joint Communique on Aug. 17, 1982, which stated that the U.S. would not seek to carry out a long-term policy of arms sales to Taiwan, and intended to gradually reduce arms sale.According to a press release of the Foreign Ministry, China has decided to partially halt the exchange programs between the militaries of the two countries, as well as the vice-ministerial consultation on strategic security, arms control and anti-proliferation, which was originally scheduled to be held soon.The two militaries had been expected to launch more exchanges in 2010, which include U.S. Defense Secretary Robert Gates' visit to China and mutual visits of warships.Qian Lihua, director of the Defense Ministry's Foreign Affairs Office, on Saturday summoned the defense attache of the U.S. Embassy in Beijing to lodge a stern protest."We reserve the right of taking further actions," he noted.The U.S. move cast a shadow over the military ties between China and the Untied States, which have seen a warming trend since U.S. President Barack Obama took office.The two countries held the latest round of defense consultations in Beijing in June, which were suspended for 18 months after the then outgoing Bush administration announced a 6.5-billion-U.S.-dollar arms package for Taiwan.At the first U.S.-China Strategic and Economic Dialogue held in Washington D.C. in July, the two countries agreed to expand military exchanges at various levels.Vice Chairman of China's Central Military Commission (CMC) Xu Caihou visited the United States from Oct. 24 to Nov. 3, the first senior Chinese military leader to visit the country since Obama assumed the presidency.These hard-won rising military exchanges resulted from consensus reached by the two heads of state on a sound and healthy development of bilateral ties, but at the same time they require cautiously handling of the sensitive issues like arms sale to Taiwan, the first and foremost obstacle of military ties.When U.S. President Barack Obama visited Beijing in November, China and the United States issued a joint statement, pledging that the two countries would "take concrete steps" to advance "sustained and reliable" military-to-military relations."I am very pleased with the reduction of tensions and improvement of the cross-strait relations," said Obama during a dialogue with Chinese youth in Shanghai.However, the arms sale deal apparently runs counter to the commitments the U.S. side have made.As one of the most important bilateral relationships in the world, a sound China-U.S. relationship not only conforms to the fundamental interests of the two peoples, but is also conducive to peace, stability and prosperity in the Asia-Pacific region and the world at large.Now the U.S. side should take the responsibility for the halt of military exchanges between the two countries, which may subsequently deal a blow to bilateral ties.

HONG KONG, Jan. 18 (Xinhua) -- Vietnamese and Chinese officials said here Monday that they will make joint efforts to further cement ties between the two countries, and ties between Vietnam and the Hong Kong Special Administrative Region (HKSAR).The officials made the remarks at a reception, hosted by Vietnam's Consulate General in the HKSAR, to mark the 60th anniversary of the establishment of diplomatic relations between the Socialist Republic of Vietnam and the People's Republic of China."The establishment of the diplomatic relations between the two countries on Jan. 18, 1950 is a splendid milestone in the development of relations between the two countries," said Pham Cao Phong, consul-general of Vietnam in the HKSAR.He said that the Chinese government and Chinese people have provided great support and assistance to Vietnam in its struggle for independence and freedom as well as its reform and modernization drive.On behalf of the Vietnamese government, the consul-general extended sincere gratitude to the Chinese government and the Chinese people for their support to Vietnam.He said that in recent years, relations between the two countries have developed rapidly, with cooperation in political, economic, cultural and other sectors further deepened.The year of 2010 marks the first year of the founding of ASEAN-- China Free Trade Area, and the year has also been named the Year of Vietnam-China Friendship, which Pham said will "bring relations of the two countries into a new spring."Over the past six decades, the political relations between the two countries have become mature, with the deepening of bilateral cooperation in various sectors, said Lu Xinhua, commissioner of the Chinese Foreign Ministry in the HKSAR, at the reception.Lu said that he hoped the two countries will carry on what has been achieved in their bilateral relations, further promote mutual trust, deepen cooperation and consolidate good neighborly relations to open a new chapter for the relations between the two countries.

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BEIJING, March 20 (Xinhua) -- The appreciation of renminbi, or China's currency yuan, will not help tackle the global economic imbalance, economists said here Saturday.The idea that yuan's appreciation would cure global economic imbalance was not going to happen, Angel Gurria, secretary general of the Organization for Economic Cooperation and Development, said at the China Development Forum 2010.To solve trade imbalance, countries such as the United States and China should seek measures to encourage domestic consumption, improve social well-being and reform pension system, instead of sticking to the exchange rate issue, Gurria said.The exchange rate adjustment, especially between the United States and China, would not help cut the U.S. trade deficit, while one way to tackle the problem is to loose restrictions on high-technology exports to China, Nobel Prize-winning economist Joseph Stiglitz said.Since China overtook Germany to become the world's largest exporter, the country is facing increasing criticism for devaluating the yuan to earn artificial price advantages. Some U.S. senators have recently ratcheted up pressure on yuan appreciation and urged the government to label China as currency manipulator."If the U.S. government names China as a currency manipulator, quite unfortunately, it will hurt the bilateral relations at least in short and medium term," said Li Daokui, director of the Center for China in the World Economy of Tsinghua University."The two countries should be cooperative to solve the problem, while naming China as a currency manipulator will be no help," Li said."After all, it will not be in the interests of the United States, China and the whole world if the two countries' disputes escalate into a trade war," he said.

BEIJING, Feb. 10 (Xinhua) -- The Overseas Chinese Affairs Office of the State Council on Wednesday extended Chinese Lunar New Year greetings to all overseas Chinese, returned overseas Chinese and their relatives.Li Haifeng, director of the Overseas Chinese Affairs Office, said in a New Year speech that 2009 was a special year, in which China withstood the impact of international financial crisis and cross-Strait relations showed momentum for peaceful development."We sincerely hope that overseas Chinese will continue to contribute to the great cause of peaceful reunification of China," she said.Li extended best wishes for the Spring Festival -- which falls on Sunday -- to Chinese all over the world and promised that overseas Chinese affairs offices at all levels would continue to improve services to overseas Chinese and protect their rights.

BEIJING, Jan. 13 (Xinhua) -- The decision of the People's Bank of China (PBOC), the central bank, to increase the deposit reserve requirement ratio has drawn worldwide attention and fluctuations in global markets.     The PBOC decided on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points as of Jan. 18, which analysts translated as a move to manage inflationary expectations and avoid a recurrence of the lending boom.     This was the first time that the PBOC adjusted the ratio of deposit that lenders are required to set aside since the end of 2008 and the first increase for the ratio since June 2008.     The PBOC cut the bank reserve requirement ratio four times in the second half of 2008 to stimulate growth as the global financial crisis started to weigh on the economy.     The adjustment of the reserve requirement ratio, without changing benchmark interest rates, indicated the central bank was targeting inflationary expectations instead of inflation, said Zhao Qingming, a senior researcher at the China Construction Bank.     Ma Jun, chief economist with Deutsche Bank (Great China), said that the rise in the reserve requirement ratio has ended the expansionary monetary policy and started a tightening cycle.     Global markets took a hit after the Chinese attempt to cool the world's fastest-growing major economy.     Chinese equities saw their sharpest dip in seven weeks on Wednesday after the central bank asked lenders to set aside more reserves as record bank lending last year ignited fears of inflation and asset bubbles.     The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points.     The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points.     Hong Kong stocks shed 578.04 points, or 2.59 percent, to close at 21,748.60 on Wednesday.     The Hong Kong market was also dragged by overnight losses on the United States markets. The benchmark Hang Seng Index opened down 1.42 percent and widened its losses to 2.24 percent by lunch break, and further to 2.59 percent by market close.     South Korea's financial markets on Tuesday reacted as the Chinese central bank raised the deposit reserve requirement ratio, with the stock markets and foreign exchange rate plunging from the last close.     The benchmark Korea Composite Stock Price Index (KOSPI) and the Korean Securities Dealers Automated Quotations (KOSDAQ) jointly marked a plunge of 27.23 points and 3.65 points, respectively, from the last close.     The report from China also affected the foreign exchange market, with the local currency also sliding against the U.S. dollar by 1.9 won.     The New Zealand share market also fell on Wednesday after the Chinese move.     The share market closed 0.43 percent lower with the benchmark NZSX-50 down 14.1 points at 3,276.2.     Canadian stocks fell for the second day, weighed down by a metal and mining sector that was hit by the Chinese central bank's decision to cool economic growth.     The S&P/TSX Composite Index declined 126.94 points, or 1.06 percent, to 11,820.18 on Tuesday. Earlier the index shed 173 points to 11, 774, the lowest level this year.     U.S. stocks retreated Tuesday, with S&P falling for the first time in 2010, as disappointing Alcoa fourth-quarter results and rising U.S. trade deficit cooled optimism for a strong earnings season and a sustainable economic recovery.     Crude tumbled the most in five weeks on concerns that demand from China, the world's second-largest oil consumer, will wane as the government moves to curb lending.     Benchmark crude for February delivery fell 1.73 dollars to settle at 80.79 dollars a barrel on the New York Mercantile Exchange. It's the first time this year a barrel has closed below 81 dollars a barrel.     Meanwhile, analysts widely hold that the Chinese central bank's decision is to cast only a short-term, instead of mid-term, stroke on the domestic stock market, as the impact would largely be psychological.     Zhuang Jian, a senior economist with the Asian Development Bank, said the adjustment did not indicate a shift in the moderately easy monetary policy, but was an effort to control the pace of lending.     Through the reserve requirement ratio increase, the central bank intended to call for balanced lending at commercial banks, which would support economic growth while avoiding higher inflationary expectations, Zhuang said.

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BEIJING, March 2 (Xinhua) -- Chinese lawmakers from across the country have gathered in Beijing for the upcoming Third Session of the 11th National People's Congress (NPC).NPC deputies from central China's Henan Province arrived in Beijing by train at about 6 p.m. Tuesday, becoming the last group to reach the country's capital city for the annual parliament session, which is scheduled to begin Friday.Aside from reviewing the government's work report for last year, voting on the central and local governments' draft budgets for 2010, discussing an amendment to the Electoral Law and mapping out this year's development blueprint, the lawmakers will also take part in three rounds of online dialogues with the public.The three online dialogues would be held on March 5, March 11, and March 12, respectively.The lawmakers would be joined by officials from the Ministry of Health, the Supreme People's Court, and the Supreme People's Procuratorate during the online dialogues.The NPC session's press center has begun soliciting questions for the three dialogues on the NPC's website, as well as from a dozen of popular news portals, including Xinhuanet, on Tuesday.

BEIJING, Feb. 4 (Xinhua) -- Centralized procurement by the Chinese government has helped save close to 2 billion yuan (about 290 million U.S. dollars) in 2009, an official said here Thursday.The Chinese government spent more than 14.7 billion yuan in government procurement last year, Chen Jianming, director with the government procurement center said during a work conference held in Beijing.The figure was 1.8 billion yuan more than in 2008, he said.Chen noted that Chinese government departments had made "remarkable" progress in reducing their expenditures in 2009.For instance, the amount of money spent on purchasing vehicles by the government departments in 2009 dropped by 35 percent year on year, he said.They also spent two percent less in government procurement for work conferences compared with the year before, he said.Chen said the government purchases will continue to focus on energy-efficient, environment-friendly, as well as innovative and domestic products in 2010.The procurement center would stick to the policies of protecting information security and supporting small and medium-sized companies when making purchases, in order to push forward the development of the country's industries and the readjustment of its economic structure, Chen said.

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UNITED NATIONS, March 18 (Xinhua) -- China on Thursday voiced its support for the liberalization of global trade and opposition to trade protectionism in all its forms in order to pave the way for the economic recovery in the world at large.The statement came as Li Baodong, the permanent Chinese representative to the United Nations, was taking the floor at the Special High-Level Meeting of the UN Economic and Social Council with the Bretton Woods Institutes, namely the World Bank and the International Monetary Fund, the World Trade Organization (WTO) and the United Nations Conference on Trade and Development."China supports the liberalization and facilitation of global trade, and opposes trade protectionism in all its forms," Li said. "We should strive for the conclusion of the Doha round negotiations in 2010 to bring about comprehensive and balanced results. We also need to redouble the efforts of the WTO to promote aid for trade, and help developing countries strengthen capacity building.""Trade is a key driver for world economic recovery," he said. " Since the outbreak of the financial crisis, world trade has plummeted, and trade protectionism is on a visible increase. Developing countries are the biggest victims of trade protectionism.""The overall situation of the world economy has now turned for the better, but with the negative impact of the financial crisis still lingering, developing countries are faced with a huge challenge in achieving the MDGs (Millennium Development Goals) on schedule," Li said.The High-level Plenary Meeting on MDGs to be held in September this year will be a major action taken by the UN system for the achievement of the MDGs in 2015, Li said."China supports the convening of this meeting and hopes the meeting will provide a platform for the international community to hear the voice of UN member states, especially that of developing countries, learn about the difficulties they have encountered in achieving the MDGs, and push for developed countries to truly shoulder the responsibility of helping developing countries, fulfill their commitments and reach consensus on future actions," he added.

BEIJING, Jan. 27 (Xinhua) -- China's banking regulator asked lenders to keep credit growth at reasonable pace in 2010 and vowed to tighten supervision on property loans amid increasing risk of asset bubbles."Banks should reasonably control new loans, better manage the pace and try to achieve balanced issuance and steady growth of credit quarter by quarter, " Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC) at a meeting on Tuesday.Despite regulator's repeated warnings on risks hidden from the record 9.6 trillion yuan of new loans last year, banks rushed to lend more than 1 trillion yuan in the first month of this year in fear of the expected tighter loan policy in 2010 after the credit binge last year as media reported.An official with the Industrial and Commercial Bank of China told Xinhua the credit growth in the first ten days of January was a little bit fast, and turned smooth in the last days of the month.According to the statement posted on CBRC's Web site on Wednesday, Liu said the regulator will pay special attention to the changes in the property market, strictly enforce relevant policy, and beef up the "window guidance" over credit to the real estate sector.But he restated banks should continue to support first-time home buyers.Liu also told banks to continue lending to fund rural development, small business, consumer spending and environmental protection.He said banks should keep adequate capital and heed of resurgence of bad loans.