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BEIJING, Feb. 8 (Xinhua) -- China's state assets watchdog will closely watch over projects implemented by state-owned enterprises(SOEs) in the country's massive stimulus package to prevent corruption, an official said here Sunday.     The State-owned Assets Supervision and Management Commission (SASAC) will strictly look into the progress and fund use of projects by SOEs directly under the central government, said the SASAC director Li Rongrong.     Many projects are estimated to see over tens of millions of yuan put in, making it a more important task to fend off corruption, he said at an SOE meeting on disciplinary inspection work.     China unveiled a stimulus package with a total investment of 4 trillion yuan (586 billion U.S. dollars) in November to boost domestic demand and offset the world economic slowdown.     Of the total, 100 billion yuan had been allocated by the central government by the end of last year.     Li said inspectors will particularly focus on projects in such sectors as power grids, telecommunications, transportation, equipment, construction and metallurgy.     The SASAC will also check whether the projects cause environmental hazards, consume too much energy and resources or result in excessive capacity, said Li.     A total of 4,960 Chinese officials above the county level were punished in a year ending November 2008, data show. They were involved in corruption and commercial bribes, hurting people's interests.

BEIJING, Feb. 20 (Xinhua) -- China's lenders have been urged to be flexible and innovative concerning loan repayment from smaller firms.     The China Banking Regulatory Commission (CBRC) said Friday it is trying to help small firms facing financing difficulties by extending the loan period.     According to a notice sent to various lenders, banks and small firms could stipulate such terms in loan contracts which would allow the borrower to file a new request for a credit checkup before the loan is due.     If no problem is found, the borrower could directly extend the loan period without starting all over again by signing a new contract.     Extra conditions that come along with the extended loan period could be worked out by both sides through negotiations, the commission said.     However, the commission did not define which small firms would be entitled to such favorable policies.

BEIJING, Feb. 22 (Xinhua) -- Chinese President Hu Jintao and Premier Wen Jiabao on Sunday called for all efforts to rescue the miners trapped or injured in the coal mine blast in north China's Shanxi Province.     As of 6 p.m., 74 people were confirmed dead from the accident which occurred early Sunday morning at the Tunlan Coal Mine of Shanxi Coking Coal Group.     The president and premier urged rescuers to spare no efforts to save the trapped miners and ensure the safety of rescuers, and prevent secondary accidents.     Vice Premier Zhang Dejiang headed for the site Sunday evening to direct the rescue operation and console the injured miners and families of the victims. Zhang also declared to set up an investigation team to probe into the cause of the accident.     Leaders from the State Administration of Work Safety and Shanxi provincial officials have also arrived at the scene. Luo Lin (1st L, rear), head of the State Administration of Work Safety, Zhao Tiechui (R, rear), head of the State Bureau of Coal Industry, and Zhang Baoshun (C, rear), the Provincial Communist Party Committee chief, talk with a miner injured during the accident at a hospital Gujiao City, north China's Shanxi Province, Feb. 22, 2009. 

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LONDON, April 1 (Xinhua) -- Chinese President Hu Jintao and his U.S. counterpart Barack Obama agreed to work together to build a positive, cooperative and comprehensive relationship in the 21st century when they met here Wednesday.     Hu said China-U.S. ties have got off to a good start since Obama took office. "I have been keeping close relations with Obama and the foreign ministers of both countries have exchanged visits in a short time," he said. Chinese President Hu Jintao (L) shakes hands with U.S. President Barack Obama during their meeting in London, Britain, on April 1, 2009The current international situation is undergoing complicated and profound changes, and the international financial crisis continues to spread and go deeper, he said, adding that global challenges are markedly increasing.     China and the United States share more extensive common interests in tackling the financial crisis, striving to recover global economic growth, dealing with international and regional issues and safeguarding world peace and security, the Chinese president said.     He said China and the United States need to view each other from a positive perspective and push forward dialogue and cooperation with positive moves despite the differences in their social systems, historical background, cultural tradition and phases of development.     The two countries should also work together to tackle the complicated and thorny issues facing the humanity in the 21st century to achieve mutually beneficial cooperation and common development, he said.     China and the United States should deepen exchanges and cooperation in economy, fighting terrorism, non-proliferation, law enforcement, energy, climate change, science and technology, education, culture, healthcare, and boost exchanges between the military of the two nations, he said. The two countries should also strengthen communication and coordination on international and regional affairs and global issues, he added. Chinese President Hu Jintao (3rd L) shakes hands with U.S. President Barack Obama (2nd R) during their meeting in London, Britain, on April 1, 2009Hu invited Obama to visit China in the second half of this year, and Obama accepted the invitation with pleasure.     This was the first meeting between the two heads of state since the new U.S. administration came into office in January.     The two presidents had an "extensive" exchange of views on bilateral relations and global issues of common interest and agreed to work toward an enhanced bilateral relationship, the White House said in a statement.     The two leaders decided to establish the mechanism of "China-U.S. Strategic and Economic Dialogues," and agreed that the first round of the dialogues will be held in Washington this summer.     Speaking at the start of their meeting, Hu said: "Good relations with the United States are not only in the interests of the two peoples, but also beneficial to peace, stability and prosperity of the Asia-Pacific region, and the world at large."     China is willing to work with the United States to make even greater progress in advancing their bilateral relations, Hu said, adding he hoped to establish "good working relations and personal friendship" with Obama.     The U.S. president said the relations between the United States and China have become "extremely constructive." "Our economic relations are very strong."     "I said publicly our relations are not only important for citizens of the two countries, but also help set the stage for how the world deals with a host of challenges," he said.     "China is a great power and has a long and extraordinary history," Obama said.     The Chinese president also said during the meeting that no matter how the situation across the Taiwan Strait evolves, China will steadfastly adhere to the one-China policy and resolutely oppose "Taiwan independence," "One China, one Taiwan" and "Two Chinas."     Obama said the U.S. government is committed to the one-China policy and the three Chinese-U.S. joint communiques, adding that this stand will not change. Chinese President Hu Jintao (2nd R) and U.S. President Barack Obama (2nd L) meet in London, Britain, on April 1, 2009.The United States welcomes and supports efforts to improve relations across the strait and hopes for greater progress in the relations, the U.S. president said.     Observers say the China-U.S. relationship is one of the most important bilateral relationships in the world in the 21st century, and amid the spreading international financial crisis and mounting global challenges, it is all the more important to further develop China-U.S. relations.     Over the years, leaders of the two countries have maintained close communication on major issues concerning bilateral ties through mutual visits, meetings, telephone calls and correspondence. These exchanges have given a strong boost to the sustained, sound and steady growth of bilateral relations.     The Chinese and U.S. leaders met in London on the sidelines of a Group of 20 (G20) summit on the financial crisis slated for Thursday.     The London summit brings together leaders of the G20, and representatives of international organizations and financial institutions to work to restore stability and stimulate global economic growth.     The summit will focus on enhancing the coordination of macroeconomic policies, pushing for necessary reforms in the world financial system and stabilizing global financial markets.     Chinese Vice Foreign Minister He Yafei said last month that President Hu will deliver a speech at the summit to elaborate China's opinions and proposition.     China endeavors to push for positive and pragmatic results at the London summit, He said.     The G20 consists of China, Argentina, Australia, Brazil, Canada, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, Britain, the United States, and the European Union. 

BEIJING, March 7 (Xinhua) -- Another Chinese delegation of businesses and industry leaders, led by the Ministry of Commerce (MOC), left for four European countries Saturday for investment and economic cooperation, the MOC said.     The business delegation, following purchases totaled more than 10 billion U.S. dollars in Europe by a Chinese procurement delegation in late February, are heading for the same destinations of Germany, Switzerland, Spain and Britain.     The new delegation will explore investment opportunities on areas of automobile, machinery, textile, food, electronics and technologies relating to energy saving and environment protection.     An MOC official said "the move would further strengthen cooperation between Chin and Europe and create a win-win result in tackling the global economic downturn."     The delegation are composed of more than 20 top Chinese companies, as well as several national trade associations and government officials.

ADDIS ABABA, April 6 (Xinhua) -- The Chinese representative to the 120th Assembly of the Inter-Parliamentary Union (IPU) on Monday urged all countries to abandon any form of trade and investment protectionism amid the sweeping financial crisis.     "During times of economic difficulties, the international community should abandon all forms of trade and investment protectionism and work for the progress of the Doha round of negotiations at an early date," Uyunqimg, Vice chairwoman of the Standing Committee of China's National People's Congress, said at the Addis Ababa meeting. Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, attends the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis"She told fellow parliamentarians that the outbreak of the global financial crisis added to the destabilizing factors and uncertainties in the international political and economic arenas, and posed grave challenges to the political, economic and social life of various countries.     "Therefore, it is timely and fitting for this IPU Assembly to put the tackling of the crisis top on its agenda," she said.     Due to their low level of economic development, lack of diversity in economic structure and vulnerability of the financial system, developing countries are far more severely affected by the financial crisis than developed countries.     The Chinese official called on the international community, developed countries in particular, to shoulder their due responsibilities and obligations, continue to honor commitments of assistance and debt reduction, maintain and increase assistance to developing countries to help them tide over the difficulties and maintain financial stability and economic growth.     "We hope that parliaments around the world will play a positive role, avoiding any legislation that is protectionist in nature and urging their respective governments to shun any action that may aggravate the economic hardship for developing countries under the current circumstances," she said.     The April 5-10 meeting attracted over 1,000 legislators from around the world, and the delegates are scheduled to discuss the political, economic and social situation in the world with the overall theme of "Parliaments: Building Peace, Democracy and Development in times of crisis."Uyunqimg, Vice-chairwoman of National People's Congress Standing Committee of China, addresses in the 120th Assembly of the Inter-Parliamentary Union (IPU) in Addis Ababa, capital of Ethiopia, April 6, 2009. The 120th Assembly of the IPU and its related meetings are being held in Addis Ababa from April 5 to 10, with the overall theme of "Parliament: Building Peace, Democracy and Development in times of Crisis".

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BERLIN, Feb. 24 (Xinhua) -- A business delegation of about 200 Chinese entrepreneurs arrived here Tuesday night, starting their four-state procurement tour in Europe.     The delegation, led by Commerce Minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, are expected to sign deals of purchasing automobiles, machinery, aircraft engines, railway equipment and components with companies from Germany, Switzerland, Spain and Britain.     The trip is a follow-up action for the agreements Premier Wen Jiabao reached with his counterparts during his visit to the four European countries early this month.     "We come here in according with the agreements Premier Wen and the leaders from the four countries had made," Chen told Xinhua atthe Tegel Airport after he landed in Berlin.     Germany is the first leg for the Chinese delegation, and the Chinese trade officials and business leaders are to hold negotiations with their German counterparts on Wednesday.     "I believe we will have our pockets fully packed this time, and I also believe our procurements would help inject some energy into the slump economy of Europe," Chen said.     "I hope we can achieve a lot, I also hope we can get good technology standards and reasonable prices for our procurement," he said.     European Union (EU) is the biggest trading partner of China and China is the EU's second biggest trading partner. Germany is the biggest trading partner of China within the EU. According to official data released by the German side, the trade volume from January to November 2008, the trade volume between Germany and China hit 85.637 billion euros (about 109.52 billion U.S. dollars),up 10.8 percent.

BEIJING, Feb. 20 (Xinhua) -- China's lenders have been urged to be flexible and innovative concerning loan repayment from smaller firms.     The China Banking Regulatory Commission (CBRC) said Friday it is trying to help small firms facing financing difficulties by extending the loan period.     According to a notice sent to various lenders, banks and small firms could stipulate such terms in loan contracts which would allow the borrower to file a new request for a credit checkup before the loan is due.     If no problem is found, the borrower could directly extend the loan period without starting all over again by signing a new contract.     Extra conditions that come along with the extended loan period could be worked out by both sides through negotiations, the commission said.     However, the commission did not define which small firms would be entitled to such favorable policies.

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BEIJING, March 24 (Xinhua) -- China said it would raise benchmark retail prices of gasoline and diesel by 290 yuan (42.46 U.S. dollars) per tonne and 180 yuan per tonne, respectively, as of midnight Tuesday.     It is the second oil price adjustment this year. The National Development and Reform Commission (NDRC), China's top economic planner, cut benchmark pump prices of gasoline and diesel by 140 yuan and 160 yuan per tonne, or 2 percent and 3.2 percent, respectively, on Jan. 14.     Experts said more frequent price adjustments show China can respond more quickly to international oil price changes after a new pricing mechanism took effect Jan. 1, 2009. The combined photo taken on Mar. 24, 2009 shows the price boards before (top) and after (bottom) the adjustment, in Beijing, China. China said it would raise benchmark retail prices of gasoline and diesel by 290 yuan (42.46 U.S. dollars) per tonne and 180 yuan per tonne, respectively, as of midnight Tuesday.    Oil price fell to 53.10 U.S. dollars a barrel in electronic trading on the New York Mercantile Exchange on Tuesday. On the previous trading day, it settled at 53.80 U.S. dollars a barrel, the highest price since Dec. 1.     Under the new mechanism, China's domestic prices are to be "indirectly linked" to global crude prices "in a controlled manner."     "The 'indirect link' would be based upon average global crude prices, while taking into account domestic production costs, taxation, and 'appropriate profits' of oil producers," deputy director of the pricing department of the NDRC, Xu Kuning, said.     Government-set fuel prices were previously changed infrequently.     As a result, either Chinese drivers ended up paying more than those in other countries when crude prices dropped, or domestic refineries suffered huge losses when crude prices surged.     Last Dec. 18, when the international crude price dropped from a record 147 U.S. dollars a barrel to less than 40 U.S. dollars, the NDRC announced a move to cut pump prices by 900 yuan and 1,100 yuan per tonne for gasoline and diesel, respectively.     The new pricing mechanism was announced the following day and took effect at the beginning of this year.     In Tuesday's notice to raise pump prices, the NDRC urged the two state-owned oil producers, PetroChina and Sinopec, to increase oil production to meet demands.     It also urged local pricing regulators to strengthen supervision over oil prices and crack down on any price violations.     China's crude oil output reached 190 million tonnes in 2008, up2.3 percent year-on-year, the highest growth in three years, according to the China Petroleum and Chemical Association.     Imports of crude oil rose 9.6 percent year-on-year to 179 million tonnes last year, which accounted for 48 percent of total crude oil demand.

BEIJING, April 5 (Xinhua) -- Chinese Foreign Minister Yang Jiechi on Sunday held phone talks respectively with U.S secretary of state and foreign ministers of Russia, Japan and South Korea on the Democratic People's Republic of Korea's (DPRK) launching activity.     China has noticed the DPRK's announcement of having launched an experimental communications satellite and taken note of the concerns expressed by the relevant parties on this issue, Yang told his counterparts of the U.S., Russia, Japan and South Korea Hillary Clinton, Sergei Lavrov, Hirofumi Nakasone, and Yu Myung Hwan.     China, as a close neighbor of the Korean Peninsular, has always been committed to safeguarding peace and stability on the Korean Peninsular and in the Northeast Asia region, Yang said.     The Chinese government lately has reiterated its stance on solving the issue through dialogue and consultation and opposing any actions that could complicate the situation and escalate tension, he added.     To push forward the six-party talks, build a nuclear-free Korean Peninsular and maintain peace and stability in Northeast Asia are in the interests of all parties concerned and also the common aspirations of the international community, said the Chinese minister.     He said the Chinese side urged all relevant parties to show restraint and avoid any moves that could further increase tension in the region.     China will address the current situation in a responsible and constructive manner, Yang said, noting that China is willing to communicate with all parties concerned to solve the issue properly.     China will join efforts with other parties to advance the six-party talks and safeguard peace and stability of the Korean Peninsular, he added.     Russian, Japanese, South Korean foreign ministers and the U.S. sectary of state also expressed their countries' willingness to continue exchanges of views and consultation with China on the issue.