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UNITED NATIONS, Sept. 23 (Xinhua) -- Chinese President Hu Jintao on Wednesday pledged to further assist the development of other developing countries when addressing the UN General Assembly during its the general debate.     "As a responsible and major developing country, China has always made common development an important aspect of its foreign policy," Hu said in his speech.     "We have made great efforts to provide support and assistance to other developing countries, and fulfilled our commitment under the UN Millennium Declaration," he said.     To further assist other developing countries, the Chinese president said, China will increase support for those hit hard by the global financial crisis, earnestly implement relevant capital increase and financing plans, intensify trade and investment cooperation and help raise their capacity for risk-resistance and sustainable development.     "China will continue to implement the measures announced at the UN High-level Event on Millennium Development Goals (MDGs) to assist other developing countries in speeding up development and facilitate the attainment of the MDGs," he added. Chinese President Hu Jintao addresses the 64th United Nations General Assembly at the UN headquarters in New York, Sept. 23, 2009. The 64th session of the UN General Assembly kicked off its general debate on WednesdayOn China's assistance to Africa, Hu said, China will follow through on the measures announced at the Beijing Summit of the Forum on China-Africa Cooperation, increase assistance to Africa, expand trade and investment, provide human resources and technological support for African countries in such areas as agriculture, health, education and disaster preparedness.     Hu also promised China's efforts to promote regional monetary and financial cooperation, maintain financial and economic stability and push forward financial cooperation and trade in the region.     He said China has so far provided assistance to more than 120 countries, canceled debts for 49 heavily-indebted poor countries and least developed countries, and extended zero-tariff treatment to commodities from over 40 least developed countries.     Hu noted that, since the outbreak of the global financial crisis, China has kept its currency's exchange rate basically stable, which helps maintain healthy international trade.     China has taken an active part in the trade finance program of the International Finance Corporation and provided financing support to the International Monetary Fund, which will be mainly used to help developing countries, Hu said.     "We have established the China-ASEAN Investment Fund, provided credit support to the members of the Shanghai Cooperation Organization, and actively contributed to the building of an East Asian foreign currency reserve pool," he added.

HANOI, Aug. 28 (Xinhua) -- The Communist Party of Vietnam Central Committee General Secretary Nong Duc Manh met with a Communist Party of China (CPC) delegation here on Friday.     The Chinese delegation is headed by He Yong, member of the Secretariat of the CPC Central Committee and deputy secretary of CPC Central Commission for Discipline Inspection.     During the meeting, Manh said Vietnamese party, government and people treasure the friendship with China. He said developing the Vietnam-China friendly relations serves the common interests and aspirations of the two peoples.     Manh said Vietnam would like to work together with China to enhance support for each other, deepen friendly cooperation of the two parties and two countries, and advance the bilateral comprehensive strategic cooperative partnership in a healthy and steady manner.     Manh said Vietnam is pleased to see that China has overcome various difficulties and challenges brought by the global financial crisis and achieved stable and relatively fast economic growth. Vietnam would like to share with China the experiences of dealing with global financial crisis as well as those of the reform and open-up causes.     For his part, He said in the past few years, China and Vietnam have seen frequent visits of high-level officials, strengthened mutual political trust, great outcomes on economic and trade cooperation and deepened exchanges of experiences in governing the party and the nation.     He said the two parties have also witnessed increased exchanges and cooperation in discipline inspection and fighting corruption.     He said China and Vietnam will celebrate the 60th anniversary of the founding of diplomatic ties next year and at the same time embrace the Year of Friendship. He said China would like to work together with Vietnam to take this opportunity to enrich bilateral comprehensive strategic cooperative partnership, further strengthen strategic mutual trust, deepen cooperation of mutual benefits, promote common development and push forward the relations of the two parties and two countries to a new stage.     He conveyed the greetings and best wishes from Hu Jintao, General Secretary of the CPC Central Committee and Chinese President to Manh.     Manh asked He to pass his best wishes to Hu. He congratulated China on the 60th anniversary of the founding of the People's Republic of China which is to fall on October 1. He said he believed Chinese people will make even greater achievements under the leadership of the CPC with Hu as the general secretary of the central committee.     He arrived in Vietnam on Tuesday at the invitation of the Communist Party of Vietnam.

BEIJING, July 29 -- The securities watchdog is mulling further measures to plug the loopholes that showed up in the latest round of initial public offerings (IPO), according to Shang Fulin, chairman, China Securities Regulatory Commission (CSRC).     The CSRC is generally satisfied with the results of the recent reforms, but also identified a number of areas that need to be improved. One of these areas is the lack of a provision to block institutional investors from taking advantage of the new allotment system by masquerading as personal investors in their IPO applications.     "Some institutional investors were known to have circumvented the subscription limits on their accounts by making applications through personal investor accounts opened with borrowed ID cards," said Lu Junlong, analyst, China Finance Online. "Stockbrokers keen on earning commission fees usually turn a blind eye to such irregularities," he said. People watch the index screen at a stock market in Shanghai, China, July 1, 2009. The CSRC said it is planning to take steps to safeguard individual investors' interests.    This has defeated, to some extent, the primary objective of the reform, of increasing the allotment of new shares to personal investors. In the past, the deluge of applications from well-financed institutional investors had largely crowded out applications from individual investors.     Because of the loophole, the ratios of allocation of newly issued shares to personal investors in the past several IPOs were still deemed too low.     For example, the ratio of allocation in the IPOs of Guilin Sanjin Pharmaceutical, one of the first companies to obtain a stock exchange listing after the lifting of the IPO suspension, was only 0.17 percent.     The ratio of allocation in the Sichuan Expressway IPO was 0.26 percent, while it was 2.83 percent for China State Construction Engineering Corp's public float.     "The ratio of allocation to subscription is at a low level, similar to the lottery system in the past," said Zhu Hongbin, an investor with over 10-year experience in the market.     Considering the wide price gap between the primary and secondary markets, many institutional investors borrowed heavily from banks to subscribe for new shares.     Easy credit and cheap money have given institutional investors a much greater edge over small investors in the fight for IPO allotments.     "As long as the interbank seven-day repurchase rate stays below 3 to 4 percent, we can make profits by subscribing to new shares," a Shanghai-based fund manger said, who refused to be named.     The investors' feverish penchant for newly listed stocks saw Sichuan Expressway Co soar 202 percent on debut. The bourse suspended trading in the scrip for two times to allow for a cooling off period on the first day.     The company's issue price was 3.6 yuan, nearly 20 times the PE (price-to-earnings) ratio. After collective bidding, the opening price soared to 7.6 yuan and the shares finally closed at 10.9 yuan after touching a high of over 15 yuan.     The high price was beyond the expectation of many analysts.     According the reports from 23 securities firms, most analysts thought the reasonable price could be around 5 yuan. Guotai Junan Securities Co was the most optimistic, which estimated the shares could be worth around 7 yuan.     The shares subsequently began to slump and closed at 9.81 yuan, with many individual investors burning their figures.     According to the Shanghai Stock Exchange, individual investors were the main buyers for the new shares of Sichuan Expressway on its first trading day. Among the 74,000 accounts that bought shares on that date, about 99.9 percent was personal accounts. Institutional investors, including fund mangers, securities firms and insurance companies, did not join the speculation.     According to CSRC Chairman Shang Fulin, the regulators are working on a plan to educate individual investors and also exploring effective mechanisms to protect investors' rights.

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BEIJING, Sept. 17 (Xinhua) -- The recent U.S. comments that China poses a military threat to itself is "totally groundless and irresponsible", Spokesman with China's Ministry of National Defense Hu Changming said Thursday.     "China's military development is always a positive factor for both regional and global peace and stability," Hu said in a statement.     The country has always pursued a national defense policy that is defensive in nature and unswervingly follows a road of peaceful development, he said.     The 2009 National Intelligence Strategy document released by the United States listed China as a challenger of the U.S. interests and described China as "very aggressive in the cyberworld."     A senior U.S. defense official also said on Wednesday that China's "investments in cyber and anti-satellite warfare, anti-air and anti-ship weaponry, and ballistic missiles could threaten America's primary way to project power and help allies in the Pacific -- in particular our forward air bases and carrier strike groups."     "We demand the U.S. side to respect the fact, take measures to correct the wrong comments and stop doing things that undermine the military relations between the two countries," he said.

BEIJING, Aug. 8 (Xinhua) -- China will continue to strengthen international judicial cooperation with other countries, including the United States, a spokesperson for China's Ministry of Justice said.     The unnamed spokesperson made the statement while commenting on the case of two former Bank of China (BOC) managers in southern Guangdong Province, who were convicted in a U.S. court last year of embezzlement and money laundering, the Legal Daily reported Friday.     "China welcomed the verdict by the U.S. court," which sentenced Xu Chaofan and Xu Guojun, two former managers of the BOC Guangdong Kaiping Branch, and their wives, to prison terms of eight to 25 years, the spokesperson said.     Xu Chaofan was sentenced to 25 years in jail and Xu Guojun to 22 years. Their wives were each sentenced to eight years in prison. All four were further sentenced to three years of supervised release and ordered to pay 482 million U.S. dollars in restitution.     The four were found guilty of a racketeering conspiracy that began in 1991 and continued until October 2004.     Prosecutors said the defendants laundered stolen money through Hong Kong, Canada and the U.S., including 3 million U.S. dollars deposited at several Las Vegas casinos.     The case was one of the biggest of its kind since the founding of New China in 1949.     It has, however, reinforced the positive development of Sino-U.S. judicial cooperation and provided experience in dealing with organized economic crime.     "Fleeing suspects are doomed to be punished by law," said the spokesperson.     International judicial cooperation, an effective way of fighting crime, would contribute to the crackdown on trans-national crimes, he said.     Professor Huang Feng of the Beijing Normal University's Criminal Law Research Institute said Xu's sentencing in the U.S. provided "an alternative to extradition" as the two countries had not signed an extradition treaty.     Fleeing suspects could still be convicted abroad, though they currently could not be repatriated, Huang said.     Foreign Ministry spokesman Ma Zhaoxu said in May the two guilty couples should be repatriated or extradited to China as soon as possible.

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BEIJING, Sept. 21 (Xinhua) -- China's Defense Minister Liang Guanglie stressed on Monday that the absolute control under the Communist Party of China (CPC) has guaranteed the country's armed forces have achieved landmark progress in the past six decades.     Liang, a State Councilor and also member of the Central Military Commission (CMC) as a full general, made the remark during an exclusive interview with Xinhua less than ten days leading to a grand military parade scheduled on China's National Day.     The minister said a solid ideological and political leadership by the CPC is the greatest difference between the People's Liberation Army (PLA) and the armed forces of Western countries, by which the Party's troops have endured various tests and shown loyalty, bravery and services to the people.     The PLA has achieved leaping upgrades in its defensive combat abilities to realize that the armed forces could effectively safeguard the country's sovereignty and territorial integrity, Gen. Liang said.     Liang emphasized that the PLA could not make the achievements without several rounds of disarmament and its internal reforms to optimize the military resources and command systems since the People's Republic of China was founded in 1949.     The PLA once had 6,000,000 uniformed members. The most high-profile cut was conducted by late CMC Chairman Deng Xiaoping who made a surprising decision in 1985 to reduce ranks by 1,000,000, mostly from the army and military schools.     After the latest cut in 2005, the PLA now has 2.3 million servicemen, although it remains the world's most populous armed force.     Gen. Liang said that after consistent efforts by scientists and researchers as well as China's improving industrial capacities, the PLA's arsenal has been equipped with all major weapon systems on the land, in the sea and air just like other major military powers.     "We now have military satellites, advanced jets, new main battle tanks, sophisticated warships and subs," Liang said, adding that some of the weaponry have caught up with world-leading standards.     After nearly 60 years of construction and development, China has set a strategic target to realize basic defense and military modernization, he said.     Achieving this objective, the Army's mobility level will be upgraded to give greater regional capabilities, and the Navy will be capable of both a strong coastal defense and certain measures for blue water combat, Liang said.     The Air Force will be transformed from a fleet that could only provide homeland air defense to an aerial power capable of a combination of offensive and defensive operations, and the Second Artillery Corps, China's strategic missile troops, will become a truly efficient force with both nuclear and conventional striking power, he said.     The military parade on Chang'an Avenue in front of the Tian'anmen Square on Oct. 1 will probably be the best footnote to Liang's remarks.     According to Lt. Gen. Fang Fenghui, general director of the parade, 52 types of new weapon systems developed with China's own technologies will be showcased to celebrate the 60th anniversary of the founding of the PRC.     China will unveil for the first time the PLA's airborne early warning and control (AEWC) aircraft, unmanned aerial vehicles (UAV) and other novel military hardware which have seen active service.     With a distinctive theme of "Made in China" to be showcased by the military parade, the Defense Minister said the Chinese defense industry has been also upgraded from copying Russian made weapons in 1950s and 1960s to a self-reliance on designing and manufacturing from the 1970s onwards.     Another progress is the improved heritage of national defense mobilization which has played a unique role and advantage in the PLA's service in peace time and in missions to help civilians in emergencies, Liang said.     The two events that impressed the 68-year-old minister most were the PLA's engagement in fighting a severe flood disaster in 1998 and the devastating earthquake in Sichuan Province last year.     "The troops and even many veterans were quickly mobilized and gathered to fight the flood at the front line in spite of danger to life," Liang said.     "I also witnessed very moving moments during the earthquake relief work when quake survivors saved by the PLA soldiers expressed their sincere appreciations," he said.

BEIJING, July 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for efforts to intensify energy conservation, emission reduction and environmental protection to ensure clean, safe and sustainable development.     Li made the comment at a meeting in Beijing on Tuesday, urging efforts on development of green industry and sustainable economy.     He said environmental protection should be strengthened as the environmental problems in China are still severe, such as the water, air and soil pollution.     Li said China's economy is still at a critical moment as it begins to recover steadily. It is also a crucial time for its economic structure adjustment, he added.     He said the government should maintain sustainable and stable macroeconomic policies

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PHOENIX, Sept. 6 (Xinhua) -- At the invitation of the speaker of the U.S. House of Representatives Nancy Pelosi, Chinese top legislator Wu Bangguo arrived here on Sunday to begin his official visit to the United States on the final leg of his three-nation America tour.     In a written statement released at the airport upon his arrival, Wu, chairman of the Standing Committee of China's National People's Congress, highlighted the "historical" growth of the China-U.S. relations in the past 30 years since the two nations forged diplomatic relations, noting that the bilateral ties already become the most important and the most dynamic ones in the world. Wu Bangguo (L), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, shakes hands with Arizona Governor Jan Brewer greeting him upon his arrival at an airport in Phoenix of Arizona state Sept. 6, 2009. Wu Bangguo arrived here on Sunday for an official goodwill visit to the U.S., the final leg of his three-nation America tourWu will be visiting Washington Tuesday where he is expected to hold talks with Pelosi, meet with U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton.     "My visit to the United States is the first by a Chinese top legislator in the past 20 years," Wu said in the statement, noting that the purpose of his visit is to further implement the important consensus reached by the Chinese president Hu Jintao and Obama in an aim to push forward the positive, cooperative and comprehensive Sino-American relations.     Wu arrived here after he concluded his official visit to Cuba and the Bahamas.

LANZHOU, Sept. 21 (Xinhua) -- Chinese President Hu Jintao has written a congratulatory letter to mark the 100th anniversary of the founding of Lanzhou University in northwest China's Gansu Province.     The university has been sticking to its motto of making constant efforts to become stronger and fostering its own features, and has developed glorious patriotic and academic traditions, Hu said in the letter.     After the founding of New China and particularly the country's reform and opening up, Lanzhou University has shared the fate of the nation and kept pace with the times, and made important contribution to the economic and social development in the western regions, the president said.     He expected the university to contribute more to supporting the national program of developing the western regions, building an innovation-oriented country and a moderately prosperous society in all aspects, and stepping up the socialist modernization drive.     A grand gathering was held Saturday to commemorate the centenary of the university. State Councilor Liu Yandong read President Hu's congratulatory letter at the conference, noting that talented people and education are the foundation of building a strong and modern country.     She hoped that the university plays a better role in cultivating innovation-oriented talents, and bolstering advanced thinking and science and technological achievements.