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ISTANBUL, Oct. 4 (Xinhua) -- China on Sunday demanded an increase of the quota share of the emerging markets and developing countries in the International Monetary Fund (IMF) and urged the organization to accelerate its structural reform. Chinese Deputy Governor of the Central Bank Yi Gang made the remarks at the 20th meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund in Istanbul.     The one-day meeting was attended by representatives from 186 member countries and international financial institutions, the World Bank, the World Trade Organization and other organizations.     The Chinese deputy governor criticized major international financial institution for failing to give a timely early warning report of the current global financial crisis, noting that the failure is closely related to deviation of the surveillance direction and its focus.     The long-time underestimation of the quota share of the emerging markets and developing countries and their insufficient representation in the IMF are major causes for irrational governing structure, unfair surveillance and untimely early warning system, he said. Attendees take part in the International Monetary and Financial Committee (IMFC) meeting at the Istanbul Congress Center October 4, 2009. The IMFC has 24 members who advise and report to the IMF Board of Governors. Finance ministers and central bankers from around the globe are in Istanbul for the semiannual meetings of the International Monetary Fund and World Bank, which run from Oct. 4-7.    He said China supports an increase of IMF structural resources in various ways.     But he stressed that the quota share is the main resource of the IMF organization, urging the IMF to establish quota share automatic readjusting mechanism in a bid to reflect changes of economic positions of different countries.     China supports the IMF to undergo wide-ranging administrative structural reform, including the strengthening of responsibilities of the executive board of directors, effective supervision of the administration, reform of chairman election system and increasing the proportion of administrative and working staff of emerging markets and developing countries, he added.     Yi stressed that the IMF should strengthen supervision and surveillance over various major financial markets, synthetically think about various policies of member countries, and not to assess single policy in a simple and mechanical way.     He said China welcomes the progress made by the IMF in enhancing early warning capability, the whole package reform in financing mechanism to offer loan to low-income countries and preferential financing measures.     Istanbul is to host the annual meetings of the IMF and World Bank on Oct. 6-7.

PYONGYANG, Oct. 5 (Xinhua) -- Chinese Premier Wen Jiabao and Kim Jong Il, top leader of the Democratic People's Republic of Korea (DPRK), on Monday attended a grand celebration marking the 60th anniversary of the establishment of the diplomatic relations and the closing ceremony of the China-DPRK Friendship Year.     In a speech delivered at the May Day Stadium in Pyongyang, Premier Wen said China and the DPRK have understood, supported and helped each other during the past 60 years despite changes in the international situation.     The ruling parties and peoples of China and the DPRK have steadily promoted the development of the bilateral ties, contributing to regional peace and stability, Wen said.     This year marks the China-DPRK Friendship Year, featuring a variety of celebrations and events of exchanges, which have enhanced the friendship between the two countries, strengthened cooperation in various fields and injected new vitality into the bilateral ties, Wen said.     Currently, China-DPRK relations have arrived at a new historic point, he said.     China is ready to join hands with the DPRK to further consolidate and develop the traditional friendship, expand friendly exchanges and cooperation to better serve the well-being of both peoples, and make greater contribution to regional peace and stability, he noted.     DPRK Premier Kim Yong Il, who also attended the event, said the establishment of DPRK-China relations 60 years ago was an epoch-making event and the DPRK is firmly determined to consolidate and develop the DPRK-China friendship.     The events marking the China-DPRK Friendship Year have effectively promoted the friendship and trust between the two peoples, he said.     The DPRK is ready to make joint efforts with China to further the friendly, cooperative relations, he said.     During the celebration, the leaders watched the grand gymnastic and artistic performance "Arirang" presented by DPRK artists.  

BEIJING, Oct. 10 (Xinhua) -- Senior Communist Party of China (CPC) leader Li Changchun has pledged to strengthen cooperation between Chinese and foreign media and to facilitate foreign media coverage of China. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks Friday evening when he met the heads of 10 major media organizations attending the World Media Summit in Beijing.     The Chinese government has been promoting media development and supporting Chinese media in enhancing exchanges and cooperation with foreign counterparts in news, human resources, information technologies and business development, he said. Li Changchun (L5, front), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, poses with heads of some media organizations attending the World Media Summit, in Beijing, capital of China, Oct. 9, 2009.    Hopefully, the media could strengthen mutual understanding and friendship through exchanges and cooperation and contribute to building a harmonious world, he said.     He said he expected more foreign media leaders and reporters to visit China and introduce China to the world with true, accurate, comprehensive and objective reports.     The World Media Summit ending on Saturday was launched by Xinhua News Agency and another eight world media organizations. About 300 representatives from more than 170 media outlets from around the globe gathered to discuss how to develop the industry amid challenges from the economic crisis and new technologies.

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BEIJING, Aug. 6 (Xinhua) -- China still has a long way to go in upgrading industrial processes, although it had managed to secure economic stabilization and was moving upwards, Zhuang Jian, a senior economist with the Asian Development Bank, said Thursday.     "China has achieved great success in bolstering the economy's growth through a series of plans to stimulate it, but it should also continue making efforts to upgrade its industries, as well as its energy-saving and pollution reduction measures, to sustain development," Zhuang said.     China's economic growth had slowed during the global downturn, but expanded 7.9 percent in the second quarter of 2009 year on year after sinking to 6.1 percent in the first quarter.     Zhuang said the improvement of China's industrial structure and increasing energy conservation were of critical importance to the world.     Government figures show the amount of energy consumed in China to produce a unit of gross domestic product (GDP) dropped 3.35 percent year on year in the first half. The decrease compares with 2.88 percent for the first half of last year.     China should also promote domestic consumption to boost economic growth, he said.

HANGZHOU, Aug. 22 (Xinhua) -- Pakistani President Asif Ali Zardari said Saturday his country welcomes Chinese investors.     Zardari made the call during his visit to Hangzhou, capital of east China's Zhejiang Province, the first leg of his ongoing China tour. Pakistani President Asif Ali Zardari (C, front) attends the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009. With the gradual recovery of its economy, Pakistan is making efforts to explore new international markets and remove barriers for investment and trade so as to attract more foreign investment, Zardari told reporters in Hangzhou.     Zhejiang is one of the Chinese provinces which enjoy close exchanges with Pakistan. A total of 43 Pakistan companies have their businesses in Zhejiang, yielding fruitful results in silk, water conservation, agriculture, among others, according to Zardari.     Zardari said his country will introduce a package of favorable policies for businesses in Zhejiang to invest in Pakistan, which will inject a new vitality into its economy.     Officials from Pakistan's investment promotion departments said Chinese investors are needed by Pakistan's agriculture, hydro power and energy sectors. The infrastructure alone will require an initial investment of 110 billion U.S. dollars.     Chinese fruit preservers can also play a crucial role in Pakistan as about 40 percent of Pakistan's fruit can not be moved to other places due to the lack of freezing vehicles, according to Pakistani officials, who commented on the basis of anonymity.     Zardari was paying his fourth visit to China since taking office last September.     He attributed his frequent visits to the intent of bringing back home China's experience in development. Guests attend the Forum on Pakistan-Zhejiang (China) Trade and Investment Opportunities: Current Co-operation and Future Prospects in Hangzhou, capital of east's China's Zhejiang Province, Aug. 22, 2009.

HARBIN, Aug. 10 (Xinhua) -- Chinese Vice Premier Li Keqiang said over the weekend that the rebuilding of shanty towns which have long-housed low-income workers is an important part of the country's effort to improve people's livelihood.     Li made the comment at a working conference to address the rebuilding of shacks in cities and at compounds of large state-owned mining enterprises held in Harbin, capital of northeast China's Heilongjiang Province, on Saturday.     Such shanty towns are shabby residential areas that were built when the country started to industrialize its economy, and people living there are more often low-income wage earners in factories.     These people are either living in a space that is less than 10 square meters for each, or in apartments that have no tap water or sewers, or even toilets or kitchens. Chinese Vice Premier Li Keqiang (C) addresses a meeting on the rebuiding of cities and hut zones, in Harbin, capital of northeast China's Heilongjiang ProvinceChina is aiming to offer proper housing for 7.5 million low-income urban households and 2.4 million households living in shanty towns of coal mines, reclamation areas, and forest zones in three years, Premier Wen Jiabao said in March.     There are another 1.14 million living in shabby apartments at compounds of state-owned mining enterprises, which are not included in the planning of cities, according to the conference.     Li urged to integrate the rebuilding of such shanty towns with the low-income housing project, initiated by the Chinese government to build affordable houses for low-income urban residents.     He also asked planners to build homes at different price levels in a region so as to avoid the concentration of poor population in a certain neighborhood.     Li stressed that the government should dominate the project of rehousing low-income workers, but it could invite funding from outside the government.     He said the government should secure land supplies for such projects and materialize tax supports.     The central government pledged to allocate 49.3 billion yuan (7.25 billion U.S. dollars) from the central budget to finance such housing projects in 2009 alone.

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BEIJING, Oct. 5 (Xinhua) -- The Emerging Markets magazine has named China's Finance Minister Xie Xuren as Finance Minister of the Year, Asia 2009, the Ministry of Finance said Monday at its website.     The Emerging Markets believes that China's quick and proactive fiscal policies implemented in the past year have boosted economic growth and made contributions to global economic recovery, the ministry said.     In a written interview with the magazine, Xie said since the outbreak of the global financial crisis last year, the Chinese government timely and resolutely adjusted its macro-economic polices, carried out proactive fiscal and moderately easy monetary policies, and approved plans aiming to spur domestic consumption. China's Finance Minister Xie Xuren (L) meets with World Bank Group President Robert B. Zoellick ahead of the World Bank Group and the International Monetary Fund (IMF) annual meetings in Istanbul, Turkey, Oct. 5, 2009. The 2009 Annual Meetings of the World Bank Group and the IMF are scheduled to be held in Istanbul on Oct. 6 and 7.     China's gross domestic product grew 7.1 percent in the first half of this year, which proved those policies were effective, said Xie.     He told the magazine that an overall recovery in the global economy would be slow with twists and turns, and that China's economic recovery was still unstable and imbalanced.     But China would stick to the proactive fiscal and moderately easy monetary policies, while focusing on the longer-term development and economic restructuring, he said.     Emerging Markets is part of Euro money Institutional Investor plc. It provides a broad range of news, features, analysis for investors, bankers, brokers working in the developing world.

XUZHOU, Jiangsu, Oct. 18 (Xinhua) -- President Hu Jintao congratulates Sunday on the 100th founding anniversary of the China University of Mining and Technology (CUMT) in a letter, urging more talents in the country's energy resource industries.     Hu said in the letter that energy resources are the basis and guarantee of the country's economic and social development.     As a key base for the country's education on the science and technology of energy resources, the university shoulders great responsibilities and has a bright future, Hu said. Hu called upon the university to stick to the Scientific Outlook on Development and foster more talents to achieve more research fruits and contribute to the sound and fast development of the country.     In his reply to a letter from the university's new graduates who are working in the country's western regions, Premier Wen Jiabao encouraged them to devote themselves to the development of the regions where they work.     State Councilor Liu Yandong Sunday attended the celebration that marked the university's founding anniversary. She noted that the scientific exploitation and clean use of energy resources is a major issue for countries across the world and is also a key factor that is restricting China's modernization.     She called on teachers and students to attach individual values to the country's construction and go to the places where they are most needed.     The CUMT, one of the key national universities under the direct administration of the Ministry of Education, is based in Xuzhou of east China's Jiangsu Province.     In 1997, the university's second campus was established in Beijing.

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BEIJING, July 31 (Xinhua) -- Chinese Vice Foreign Minister Zhang Zhijun summoned Australian Ambassador to China Geoff Raby and lodged a solemn representation to the Australian side on its allowing Rebiya Kadeer, leader of the separatist World Uygur Congress (WUC), to visit Australia.Zhang expressed China's strong dissatisfaction and firm opposition to the Australian side on its allowing the visit, a press release of the Foreign Ministry said.     Zhang demanded it immediately correct its wrong doings and do not allow Kadeer to visit Australia and engage in anti-China separatist activities in the territory of Australia, the ministry said.     The WUC led by Kadeer is believed to have masterminded the July 5 Xinjiang riots that left at least 197 people dead and 1,600 others injured

BEIJING, July 28 (Xinhua) -- China will cut gasoline and diesel prices from Wednesday by 220 yuan (32.4 U.S. dollars) per ton, or by about 3 percent each, the National Development and Reform Commission (NDRC) announced Tuesday.     The retail price of gasoline will drop by about 0.16 yuan per liter, and that of diesel by about 0.19 yuan per liter, the commission said in a statement issued after a news briefing. A staff member works at a gas station in Hefei, capital of east China's Anhui Province, July 28, 2009The benchmark prices of gasoline would be reduced to 6,910 yuan per tonne, and that of diesel to 6,170 yuan per ton. The price cut was in response to recent falls in global crude prices, which had dropped to 63.97 U.S. dollars per barrel from 67.8 U.S. dollars on June 30, according to the statement.     Global crude prices, despite recent rebounds, experienced consecutive falls in the first half of this month, said the statement.     The NDRC is basing its adjustment of domestic fuel prices on three kinds of global crude prices, but the commission did not reveal the structure of the three prices.     On Monday, light, sweet crude for September delivery rose 33 cents to settle at 68.38 U.S. dollars a barrel on the New York Mercantile Exchange. London Brent for September delivery rose 50 cents to 70.82 dollars a barrel on the ICE Futures exchange.     It is the sixth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1.     The Chinese government has lowered retail fuel prices in December, before the new mechanism became effective, and again in January. It also raised prices once in March and twice last month.     Under the pricing mechanism, the NDRC would consider changing benchmark retail prices of oil products when the international crude price rises or falls by a daily average of 4 percent over 20 days.     The two price rises last month were slight, said the statement, in an effort to quell doubts over frequent price hikes.     The country's latest fuel price hike on Jan. 30 sparked widespread debate as consumers grumbled that the record domestic prices were even higher than in the United States.     However, according to the NDRC statement, post-rise prices on June 30 translated into about 60 U.S. dollars per barrel, which was 7.8 U.S. dollars lower than the international price that day.     On June 1, post-rise prices were equal to about 50 U.S. dollars a barrel, 7.6 U.S. dollars lower than the global crude price.     The NDRC raised pump prices of gasoline and diesel by 400 yuan per ton, or 7 percent and 8 percent, respectively, from June 1, and again by 600 yuan per tonne, or 9 and 10 percent, respectively, from June 30.     Such controlled rises were meant to ease the burden of downstream industries so as to help fuel a recovery in the economy, and also to cushion the negative effect of irrational rises in global crude prices, such as raises in investment of speculative capital, according to the statement.     The commission would continue to adjust domestic fuel prices "at an appropriate time", and take into account of changes in global crude prices, domestic economic situation, and demand and supply on the domestic market, said the statement.