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QINGDAO, China, June 5 () -- Eastern China's coastal city of Qingdao will set up a joint team with southern France's Languedoc-Roussillon to compete in the upcoming Tour de France sailing race.Qingdao will send two sailors to join the yacht team, said Lin Zhiwei, deputy director of local yachting association, on Sunday.The two sailors are Guo Wei and Yu Ying, the first Chinese attended the Volvo Ocean Race and winner of the best new sailor that Qingdao selected for the 2009-2010 Clipper Round the World Yacht Race.The annual Tour de France sailing race was inaugurated in 1978 and has become the second largest sports event of France in summer. The race has attracted over 12,000 sailors around the world.The yacht team, South of France, has broken 34 records since it made debutance in the race in 1994.The 2011 Tour de France sailing race will start in Dunkirk on June 24.
Chinese Commerce Minister Chen Deming reacts during a news conference of the Fifth Session of the 11th National People's Congress(NPC)in Beijing g,China,March 7,2012.? ( Photo)BEIJING, March 7 () -- Commerce Minister Chen Deming said Wednesday that the trade imbalance between China and the United States is "questionable" and "should be rethought" with the fact of China's huge trade surplus with the United States.Chen said at a press conference during the parliamentary session that China's overall trade surplus was about 150 billion U.S. dollars in 2011, but the surplus with the United States totalled more than 200 billion dollars."Anyone with a basic knowledge of economics can find a clear conclusion," Chen said while commenting on the relationship between exchange rates and China-U.S. trade issues.During his visit to the United States last month, Vice President Xi Jinping called on the United States to address the China-U.S. trade imbalance."It is very important for the United States to adjust its economic policies and structure, including removing various restrictions on exports to China, in order to address the trade imbalance," Xi said.In 2011, China's trade surplus-to-GDP ratio dropped from over 7 percent to 2 percent, moving within a "reasonable range by international standards," according to Xi."The reform of the yuan's exchange rate formation mechanism has played an important role in this process," Xi said.The yuan's exchange rate has stayed within a reasonable range and China will keep it at a stable level while making it more flexible, Chen said, noting all countries should maintain the stability of their currencies' exchange rates in light of the global economic crisis.Deliberate currency devaluation is "not desirable" and will undermine economic recovery, Chen said.When commenting on export conditions to Europe, Chen said he is confident that Europe is capable of walking out of its debt crisis, and China has encouraged its enterprises to export and invest in Europe.Europe is China's top trading partner and the largest source of technology imports, its development and prosperity are closely bound with China, Chen said.Special Report: NPC, CPPCC Annual Sessions 2012
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