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BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.

DAVOS, Switzerland, Jan. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang on Thursday met World Economic Forum executive chairman Klaus Schwab, stressing his country's commitment to cooperating with the international community to boost sustained and balanced economic growth in the world.Li told Schwab, founder of the annual forum, that as the largest developing country in the world, China will stick to its responsibility in extending cooperation into more fields and into different layers during the global economic recovery.Chinese Vice Premier Li Keqiang (L front) meets with Klaus Schwab, founder and executive chairman of the World Economic Forum (WEF), in Davos, Switzerland, Jan. 28, 2010China will keep the continuity and stability of its macro-economic policies, continue to follow a proactive fiscal policy and moderately easy monetary policy and make its policies better targeted and more flexible in response to new circumstances, Li said.The vice-premier described his country's cooperation with the World Economic Forum as sound and fruitful over the years.The Chinese cities of Dalian and Tianjin have so far offered to host three summer versions of the Davos forum.Schwab said that China has played an active and promotive role in boosting global economic recovery and is an important force to be reckoned with in the world economic arena.Chinese Vice Premier Li Keqiang (1st R) meets with Klaus Schwab (2nd R), founder and executive chairman of the World Economic Forum (WEF), in Davos, Switzerland, Jan. 28, 2010.Schwab expressed his hope that the winter and summer versions of the economic forum would complement each other and attract the participation of trend-setters in such sectors as new energy and new technology to render the fora more influential worldwide.The vice premier also met, on the sidelines of the forum, entrepreneurs and executives from companies from various countries.

BEIJING, Feb. 3 (Xinhua) -- China's top political advisor Jia Qinglin on Wednesday called on the country's Buddhists to contribute to ethnic unity, social stability and national unification.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the call when meeting with newly elected leaders of the Buddhist Association of China.He urged the association to unite and lead Chinese Buddhists to safeguard China's ethnic unity, social stability and national unification, and work hard to contribute to the all-round construction of a well-off society. Jia Qinglin (front R), chairman of the National Committee of the Chinese People's Political Consultative Conference(CPPCC), shakes hands with Chuan Yin, the newly elected president of the Buddhist Association of China, in Beijing, capital of China, Feb. 3, 2010. Jia met with the delegates of the eighth national conference of the Buddhist Association of China in Beijing on WednesdayEfforts should be made to cultivate more Buddhist talents and improve Buddhist education, said Jia, also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee.Chuan Yin, who had headed the Beijing Buddhist Association, was elected as president of the Buddhist Association of China at the organization's eighth national conference Wednesday, while the 11th Panchen Lama was elected a vice president.  Jia Qinglin (front R), chairman of the National Committee of the Chinese People's Political Consultative Conference(CPPCC), walks with Chuan Yin (front L), the newly elected president of the Buddhist Association of China, in Beijing, capital of China, Feb. 3, 2010. Jia met with the delegates of the eighth national conference of the Buddhist Association of China in Beijing on Wednesday

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PYONGYANG, March 16 (Xinhua) -- Democratic People's Republic of Korea (DPRK) Premier Kim Yong Il met China's new ambassador, Liu Hongcai, here Tuesday.During the meeting which was also attended by Vice-Premier Ro Tu Chol at the Mansudae Assembly Hall, the DPRK officials said they highly appreciated the relationship between the DPRK and China.Kim warmly welcomed Liu, saying the DPRK and China held a series of activities last year to mark the two countries' year of friendship and the bilateral relationship had witnessed constant achievements in areas of politics, economy and culture, especially in the commercial sector, from the beginning of this year.Kim expressed thanks for the support of the Chinese party, government and people to the DPRK on socialistic construction, saying the DPRK people would never forget it and it was the unswerving stand of the DPRK's party and government to continue consolidating and developing the DPRK-China friendship.Liu said the activities held by China and the DPRK last year to mark the friendship served as a good opportunity for young people in the two countries to exchange views and develop friendship.He said he would make efforts to boost relations between the two countries and expand areas of mutually beneficial cooperation.Liu, who arrived in Pyongyang on March 5, presented his credentials on March 8 to Kim Yong Nam, president of the Presidium of the DPRK Supreme People's Assembly.

BEIJING, March 1 (Xinhua) -- President Hu Jintao and other top Chinese leaders joined an evening party Sunday with representatives of intellectuals in Beijing to celebrate the annual Lantern Festival.Hu and eight other members of the Standing Committee of the Political Bureau of the CPC Central Committee, including top legislator Wu Bangguo and Premier Wen Jiabao, attended the event featuring song-and-dance shows and rice dumplings, a traditional food for the festival. General Secretary of the Central Committee of the Communist Party of China (CPC) Hu Jintao (C) talks with delegates from the intelligentsia during a get-together marking the traditional Lantern Festival at the Great Hall of the People in Beijing, capital of China, Feb. 28, 2010. The CPC Central Committee hosted a get-together here on Sunday to mark the Lantern Festival

BEIJING, Feb. 1 (Xinhua) -- Chinese Premier Wen Jiabao has reiterated his country's support for the Copenhagen Accord and China's commitments to addressing climate change.In separate replies to letters from Danish Prime Minister Lars Loekke Rasmussen and UN Secretary-General Ban Ki-moon, Wen said the Copenhagen Accord resulting from the UN climate change conference in the Danish capital last year laid the foundation for advancing international cooperation on climate change and pointed the direction for future negotiations.The document reflected the political will of all parties to actively tackle climate change, upheld the dual-track negotiating mechanism of the UN Framework Convention on Climate Change and its Kyoto Protocol, and reaffirmed the principle of "common but differentiated responsibilities" for developed and developing countries, Wen wrote in the letters dated Friday.He said China would do its best to honor its commitments on climate change, including a reduction of carbon dioxide emission intensity per unit of GDP by 40 to 45 percent by 2020 against 2005 levels, an increase to 15 percent of non-fossil fuels in the country's total primary energy mix by 2020, and an increase of 40 million hectares of forest and 1.3 billion cubic meters of forest volume by 2020 from 2005 levels.Wen said China will continue to play an active and constructive role and work jointly with the international community for a meaningful conclusion of the Bali Roadmap negotiations at the Mexico climate talks with a comprehensive, effective and binding outcome that will reinforce the implementation of the convention and the protocol.

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BEIJING, March 3 (Xinhua) -- Chinese President Hu Jintao on Wednesday accepted credentials presented respectively by the ambassadors to China from Barbados, Britain, Bosnia and Herzegovina, Macedonia and the Philippines.The five new ambassadors are Lloyd Erskine Sandiford from Barbados, Sebastian Wood from Britain, Amel Kovacevic from Bosnia and Herzegovina, Oliver Shambevski from Macedonia, and Francisco L. Benedicto from the Philippines.

BEIJING, Feb. 25 (Xinhua) -- Presidents of China and Zambia on Thursday pledged joint efforts to bringing bilateral relationship to a new high.The pledge came out of their hour-long summit talks in Beijing as China rolled out the red carpet for Rupiah Banda, who was on his first state visit to the country since becoming Zambian President in 2008.Banda was welcomed by Chinese President Hu Jintao at the Great Hall of the People in downtown Beijing.Chinese President Hu Jintao (R) holds a welcoming ceremony for visiting Zambian President Rupiah Banda in Beijing, China, Feb. 25, 2010. Banda arrived here Wednesday to kick off his first state visit to China, strengthening the ties of friendship"I highly appreciate your commitment to promoting practical cooperation between China and Zambia since you assumed presidency," Hu said at the start of the talks."I believe your visit will turn a new page in the bilateral friendship and bring the relationship to a new high," Hu said.Banda recalled "the historic relations that exist between our two countries that go back before our independence." China and Zambia forged diplomatic ties in October 1964.Banda highlighted "the sacrifices many young Chinese made in order to construct the first railway line connecting Tanzania and Zambia."The about-1,860-kilometer railway, one of the largest foreign-aid project undertaken by China, was financed and built by China in 1970s. More than 60 Chinese died in constructing the railway.

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BEIJING, Jan. 25 (Xinhua) -- Emissions of sulfur dioxide, a major pollutant, in China dropped 10.4 percent last year compared with that of 2008, Minister of Environmental Protection Zhou Shengxian said here Monday.Zhou told a national conference that sulfur dioxide emissions were down 24.6 percent compared with that of 2005.The government set the target of cutting emissions of major pollutants, such as sulfur dioxide and chemical oxygen demand (COD), a measure of water pollution, by 10 percent from 2006 to 2010, the 11th Five-Year Plan period.Zhou said the country's COD and emissions of sulfur dioxide fell for four consecutive years after the target was set at the beginning of 2006.He said the successful reduction of sulfur dioxide emissions could be attributed to the use of desulfurization. Statistics show China had built more than 411 million kilowatts of desulfurization units since 2006.However, he said it was still difficult to reduce the amount of COD and the reduction progress was far different among regions.He said this year was the last year in achieving the 11th Five-Year Plan and the government appraisal showed that the environmental protection goal set in the plan could be achieved in time.Zhou said more than 400,000 tonnes of sulfur dioxide would be reduced this year and another 200,000 tonnes of COD would be cut down after the 11th Five-Year Plan was met.

ADDIS ABABA, Jan. 29 (Xinhua) - The Chinese government attaches great importance to cooperation with Africa in the Information and Communication Technologies (ICTs) sector, Chinese Envoy and Deputy Foreign Minister Zhai Jun said in a recent interview with Xinhua.The Chinese department in charge of information and communication will strengthen communication and cooperation with their African counterparts and establish consultation mechanisms, Zhai said.Meanwhile, the Chinese government will support capable enterprises to open business in Africa, in a bid to make contribution to African countries' economic development and promote modernization of communication in the continent, he said.The cooperation between China and Africa in the ICTs sector has played an active role in advancing Africa's overall communication level, promoting the continent's economic development, and bridging the "digital gap" between Africa and the rest of the world, the Chinese envoy said.Thanks to the efforts made in the past 10 years, communication facilities produced by Chinese enterprises have gained certain market share in Africa, and Chinese brands have won their renown in the African market, Zhai said.Products and services by Chinese communication facility enterprises such as ZTE and Huawei have covered 50 African countries, providing communication services for more than 300 million people, Zhai said.Meanwhile, more than 40 3G networks have been established in over 30 African countries with regional offices of Chinese communication facility enterprises scattering in 48 African countries while regional research and development centers and personnel training centers have also been established in the continent, he noted.Moreover, ICTs cooperation between the two sides have also helped generate employment, promote technology transfer and improve people's livelihood in Africa, said the minister.In Africa, Chinese enterprises pay special attention to employing local employees, who now account for over 60 percent of the total number of staff, Zhai said, adding that Chinese enterprises train more than 20,000 technical personnel for Africa every year.Chinese enterprises also do their best to make local procurement, Zhai said, noting that Huawei alone has made a 480- million-U.S. dollar procurement in African in 2008.At the same time, Chinese enterprises actively carry out social responsibilities in Africa by funding schools, hospitals and wildlife conservation, which are applauded extensively by African governments and people, according to him.Zhai arrived in the Ethiopian capital Addis Ababa Wednesday to attend as an observer the 14th African Union (AU) summit scheduled from Sunday to Tuesday.Under the theme "Information and Communication Technologies in Africa: Challenges and Prospects for Development," leaders from AU member states will assess the achievement made in Africa in the ICTs sector, while discussing opportunities, challenges and prospects of the sector's development.During the summit, participants are also expected to exchange views on issues including regional integration, climate change, Africa's stance on UN reforms and regional conflicts, among others.