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BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading.     Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis.     "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday.     "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said.     Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis.     It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said.     According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year.     With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said.     Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities.     Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said.     "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said.     In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.

BEIJING, Dec. 23 (Xinhua) -- A senior Chinese official has urged the country's political advisors to make more practical proposals to the government to resolve environmental pollution and other social problems.     Jia Qinglin, Chairman of the National Committee of the Chinese People's Political Consultation Conference (CPPCC), made the remark in a letter to the CPPCC's first seminar on China's population, resources and environment development concluded in Beijing on Tuesday.     China would have many challenges in achieving steady economic growth and social development next year, which included environmental protection, employment and resources issues, Jia said in the letter.     Political advisors should work together and make proposals and suggestions that could serve the people and country effectively, he said.     The seminar was attended by members of the CPPCC, China's top political advisory body, and experts from companies and research institutes.

BRUSSELS, Jan. 19 (Xinhua) -- The NATO secretary general on Monday praised the Chinese navy's anti-piracy operations off the coast of Somalia and indicated NATO's willingness to work with China on the issue. "I am applauding what is a rather unique position of the Chinese navy participating in the anti-piracy (campaign)," Secretary General Jaap de Hoop Scheffer told Chinese journalists at a NATO New Year reception.     "I do not exclude, at a certain stage, that when the United Nations would create a sort of roof under which these whole anti-piracy operations take place, NATO and China will meet under that roof," he said. A soldier of Chinese navy special force watches a seabird flying over him on destroyer "Wuhan", flagship of the Chinese naval fleet for an escort mission against piracy off Somali coast, in the Gulf of Aden, on Jan. 18, 2009. The Chinese naval fleet including two destroyers and a supply ship set off on Dec. 26, 2008 for waters off Somalia.    The deployment of two warships in the Gulf of Aden was the Chinese Navy's first expeditionary military mission.     "I welcome the engagement of China... It is a very important contribution to anti-piracy operations," the secretary general said.     NATO deployed four warships off Somalia in October to escort World Food Program food shipments to Somalia and to patrol the seas to deter piracy. Its mission ended in December. But the alliance is considering a long-term strategy on the piracy issue and stands ready to consider further requests for the use of its naval assets in this regard.

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TIANJIN, Jan. 20 (Xinhua) -- Chinese Vice President Xi Jinping has called for government and party officials to maintain their political integrity and lead the people to overcome difficulties amid hardships.     Xi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks during an inspection tour to the northern coastal city of Tianjin from Sunday to Monday. Chinese Vice President Xi Jinping (1st R, front), also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, talks to teachers and students on campus of Tianjin University during his visit to Tianjin Municipality Jan. 18, 2009. Party committees at all levels must make efforts to improve the awareness of political responsibility of officials, and make sure the officials would abide by party disciplines and political ethics, and preserve integrity in their work, Xi said.     He urged officials at all levels to study President Hu Jintao's speech at last Tuesday's plenary session of the CPC Central Commission for Discipline Inspection (CCDI).     Officials must keep in close contact with the public, prioritize people's interests during their work, and address their needs, he said.     Xi called for officials to ask the people for advice and suggestions, and try harder to take practical measures to tackle public difficulties.     He said officials should be the first to bear hardships, but the last to enjoy comforts.     Extravagance and waste during work must be opposed to enhance official's capability in fighting corruption, he said.

BEIJING, Jan. 19 (Xinhua) -- Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole of 2009.     Wen made the remarks during the second plenary meeting of the State Council, or the Cabinet. The meeting was held here Monday. Participants at the meeting discussed the draft of the government work report, which would be delivered for review at the second plenary session of the 11th National People's Congress in March. Chinese Premier Wen Jiabao presides over the second plenary meeting of the State Council, or the Cabinet, in Beijing, capital of China, Jan. 19, 2009. Chinese Premier Wen Jiabao on Monday called for more steps in the first quarter this year to reverse the trend of economic slowdown as soon as possible and realize a good start for the whole 2009    The draft would be sent to provincial governments and central departments for advice.     The soliciting advice and revision part was a process to achieve concerted understanding and enhance confidence; a process to counter the global financial crisis and address the difficulties which arose from it; a process to solicit public opinion and make scientific decisions; and a process to improve policies and measures as well as enhance their implementation, Wen said. Chinese Premier Wen Jiabao presides over the second plenary meeting of the State Council, or the Cabinet, in Beijing, capital of China, Jan. 19, 2009Last year was an unusual year for the country, especially the second half of 2008 when the government unveiled a series of measures to counter the negative impacts of the global financial crisis.     "These measures have been proved prompt, correct and effective," Wen said.     "This year is the most difficult year for China's economic development so far this century," he said.     Efforts should be made to enhance the implementation of the government's economic stimulus package and measures announced to boost the country's major industries, he said.     The Chinese government has announced boosting measures for the steel and auto industries, and is planning measures for eight other major industries.     Wen urged departments concerned to speed up work on the making of these boosting measures.     He called for more efforts on agricultural production during the winter and the coming spring, and said favorable policies for farmers should be firmly implemented.     He also called for efforts to promote stable and relatively fast industrial development.     Enterprises should be encouraged to intensify internal management, reduce operating cost, expand markets and stabilize employment, he said, and small and medium-sized enterprises should be given more support.     Work should be done to ensure service and commodity supply during the upcoming Spring Festival as well as boost consumption in both rural and urban regions, he said.     The government should work to maintain stable growth in trade, Wen said, underlining the need to expand emerging markets and improve the quality of exported goods.     Wen also stressed the need for work to ensure the country's financial stability and safety. The government should properly deal with changes brought about by the global financial crisis and maintain sound operation of the banking sector, he said.     More attention should be given to implement the central government's policy to improve people's living standards and solve problems concerning people's interests, he said.     He urged governments at all levels to attach great importance to boosting employment, help people who had difficulties in life, and ensure production safety and social stability.

BEIJING, Nov. 23 (Xinhua) -- Chinese Premier Wen Jiabao called on domestic companies to pump up confidence in coping with the global financial crisis during his inspection of enterprises in eastern Shanghai and Zhejiang Province from Friday to Sunday.     Wen said buoying up their confidence was "a powerful weapon to deal with the adverse effects of the global economic turbulence and financial turmoil" when inspecting local private enterprises and large-scale companies.     "Enterprises must have confidence for them to stabilize market expectations. Confidence is what they need to tide over the difficult times," he said.     Wen, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, pointed out the private sector played an important role in keeping the stable and relatively fast economic growth momentum, creating more jobs and maintaining the social stability. Chinese Premier Wen Jiabao (C) talks with workers of the Shanghai Waigaoqiao Shipbuilding Co., Ltd. in Shanghai, east China Nov. 22, 2008. Wen Jiabao made an inspection tour of Shanghai Municipality and Zhejiang Province from Nov. 21 to Nov. 23, 2008."Great importance should be laid on the difficulties and challenges private companies face and more supporting policies should be given to them to create a sound environment for their development," he added.     Wen encouraged private companies to adapt to the market changes, make efforts on innovation, establish famous brands with independent intellectual property rights, improve their competitiveness and enhance risk resisting capabilities.     When inspecting Yiwu city in Zhejiang, one of the country's commodities trading centers, Wen encouraged business people to also focus on the domestic market in sync with strengthening their positions on the overseas market.     Wen stressed that large-scale enterprises played a crucial part in the national economy and social development, and great efforts must be put on pushing forward their healthy development.     He encouraged big companies to conduct merge and restructuring, eliminated the outdated production capacity and increase investment on research and development.

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SHANGHAI, Nov. 13 (Xinhua) -- China's first local financial tribunal opened on Thursday in the People's Court of Shanghai Pudong New Area.     The tribunal, with three judges, will accept both individual and institutional civil cases, with no limit on claims, said a judicial official.     Lin Xiaojun, vice chief judge of the tribunal, said the global financial crisis has triggered an increase in financial disputes.     Financial innovation and opening-up had also seen a wider variety of cases, including finance product and company stock ownership disputes, said Lin.     Ding Shouxing, president of the People's Court of Shanghai Pudong New Area said the tribunal would also provide legal services for financial institutions, release case analyses for market information, and make proposals to prevent and resolve financial risks.     The tribunal would hire financial experts as assessors, and setup a consultative team to guarantee just, efficient, professional and clean hearings.     The Ministry of Justice has announced no plans to extend the tribunals to the other parts of the country.     Since 2006, the People's Court of Pudong New Area has heard 5,603 financial cases, including those relating to bank loans, credit cards, securities and assurance, involving more than 1.6 billion yuan (242 million U.S. dollars).     The Chinese government approved Pudong New Area, situated in eastern Shanghai, as a trial base for opening-up in 1990. Since then, 530 domestic and foreign financial institutions have been established there.

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BEIJING, Oct. 17 -- The government is ready to introduce a series of measures to cushion the impact of slower growth in foreign trade and industrial output caused by the global credit crisis, the vice-minister of the National Development and Reform Commission, said Thursday.     Speaking at a press conference held by the State Council Information Office in Beijing, Du Ying said that as the global economy has slowed, foreign trade volume, value-added output and the profit growth of industrial firms based in China's coastal areas have shown a downward trend in the second half of the year.     "The State Council is greatly concerned by the trend and is ready to introduce a series of measures," he said.     But the full impact of the global financial crisis has yet to be seen, he said.    "We must have a full picture of the difficulties and challenges," he said. The government has already taken several measures to combat the impact, including lowering the deposit reserve ratio, helping small- and medium-sized factories to upgrade their technologies, and introducing more favorable credit policies, Du said.     He said he is confident China can weather the storm.     "As in the past, China can overcome the challenges and difficulties and enter a new stage of development. I'm fully confident of that," Du said.     With the global financial crisis continuing to escalate, China - the world's fourth largest economy - has seen its major economic indexes slide.     The National Bureau of Statistics is due to release figures on Monday for the economic situation over the past three quarters.     Some analysts have forecast that GDP growth might drop further in the third quarter, from 10.1 percent in the second quarter and 11.9 percent for the whole of last year.     Yang Xiong, vice-mayor of Shanghai, said the city's industrial output growth fell to 6 percent last month from an average of 11.5 percent per month in the first three quarters.     The financial hub remains in good shape, however, partly due to investments in preparation for the 2010 World Expo, he said.     Zhao Kezhi, deputy governor of Jiangsu, said the province's trade figures were down 4 percent year-on-year in the first nine months.     Chen Min'er, vice-governor of Zhejiang, said the province had witnessed "individual" cases of company failures, but denied media reports of widespread factory closures.     Authorities will respond by trying to cut the tax burden on local firms, make more credit available and ensure a sufficient supply of land and power for manufacturers, Chen said, adding that now was a good time to weed out obsolete, polluting plants.     On Wednesday, Zhou Xiaochuan, governor of the central bank, called for increased domestic consumption to counter the economic slowdown.     "Due to the impact of various factors, we may need to increase domestic demand," he told Hong Kong-based Phoenix TV.

ANTANANARIVO, Nov. 11 (Xinhua) -- visiting Chinese top legislator Wu Bangguo met here Tuesday with Madagascan Prime Minister Charles Rabemananjara. The two sides exchanged views on bilateral trade ties and reached important consensuses.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), said China's top legislature has attached great importance to development of the political ties between the two countries, and that the substantial cooperation is of key concerns for both sides.     China will expand the cooperation with Madagascar in fields like energy, mining, hydropower, agriculture and human resource, and encourage the Chinese companies to establish projects with their Madagascar counterparts, Wu said. Madagascan Prime Minister Charles Rabemananjara(L) meets with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress(NPC), the country's top legislature, in Antananarivo, capital of Madagascar, Nov. 11, 2008.     "China will adopt open policies on technology transfer, use local labors and strengthen the training program for the Madagascan personnel in an effort to promote the local economic and social development," the top legislator told Rabemananjara.     Agreeing with Wu's views on the bilateral cooperation, Rabemananjara, who is also Madagascar 's Chief of Government and Minister of Interior, expressed his profound gratitude and trust to the Chinese people for the assistance they provided when the country suffered economic difficulties.     The prime minister said that the Madagascan government would create favorable conditions to attract Chinese companies to establish businesses and further invest in the country.     The prime minister proposed to strengthen cooperation with China in fields of agriculture, renewed energy, infrastructure, public health and tourism.     At the invitation of President of Madagascar's National Assembly Jacques Sylla and Senate President Yvan Randriasandratriniony, Wu arrived here on Monday for a two-day official visit, the fourth leg of his five-nation African tour. Madagascan President Marc Ravalomanana(R) meets with Wu Bangguo, chairman of the Standing Committee of China's National People's Congress(NPC), the country's top legislature, in Antananarivo, capital of Madagascar, Nov. 11, 2008.