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BUDAPEST, Oct. 17 (Xinhua) -- China wants to achieve balanced trade with Hungary by way of increased economic and trade cooperation, visiting Chinese Vice President Xi Jinping said here Friday.     At a symposium with Hungarian and Chinese entrepreneurs, Xi said the two countries should further expand trade and find more complementary products for export.     "We will continue to encourage our enterprises to import more from Hungary, and also hope Hungarian companies will make greater efforts to explore the Chinese market and increase exports of those products that meet market demand in China," Xi said.  Visiting Chinese Vice President Xi Jinping(L) meets with Hungarian Prime Minister Gordon Bajnai(R) in Budapest, capital of Hungary, Oct. 16, 2009    Xi also called on enterprises of the two countries to enhance cooperation in such areas as new energy, insurance, tourism and environmental protection.     He said the two sides should give full play to the role of the joint economic committee as a platform for consultation and properly handle trade disputes that may arise, so as to ensure smooth development of bilateral economic and trade cooperation.     Hungary is a good friend and partner of China, and China is ready to work with the East European country to strengthen their communication and cooperation and push forward bilateral trade and economic ties and the China-EU comprehensive strategic partnership, he said.     Hungarian Prime Minister Gordon Bajnai said bilateral trade and economic cooperation had expanded rapidly and Xi's attendance at the symposium demonstrated the importance China attaches to its trade relations with Hungary.     He said China plays an important role in the global economy and Hungary welcomes Chinese enterprises to seek business and invest in the country.     More than 200 business people and officials from the two countries attended the symposium.

BEIJING, Aug. 28 (Xinhua) -- The China Economic and Social Council(CESC) wants to boost exchanges with Niger's Economic, Social and Cultural Council (CESOC), a senior Chinese official said Friday.     Wang Gang, chairman of the CESC and member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when he met with the chairman of the CESOC Amadou Cheiffou in Beijing.     Both councils grouped experts in social and economic development, Wang said, and could learn from each other, as they deepened cooperation.  Wang Gang (R), member of the Political Bureau of the Communist Party of China Central Committee,vice-chairman of the National Committee of the Chinese People's Political Consultative Conference,and chairman of China Economic and Social Council, meets with Cheiffou Amadou, chairman of Niger's Economic, Social and Cultural Council, in Beijing, capital of China, on Aug. 28, 2009    Wang, also vice chairman of the National Committee of Chinese People's Political Consultative Conference, said the two nations' relations had developed well since they resumed diplomatic ties 13years ago.     He also expressed appreciation to Niger's adherence to the one-China policy and its support on issues related to Taiwan and Tibet.     Cheiffou said the CESOC would continue to work to further its traditional relationship with China.     Cheiffou began the eight-day visit on Aug. 23. Beijing is the last leg of his tour, which has also taken in Shanghai and Guangzhou.

BEIJING, Oct. 10 (Xinhua) -- China appreciates India's decision to terminate a trade investigation into Chinese-made passenger car tires, the Ministry of Commerce (MOC) said Saturday.     The decision would not only help boost the steady development of bilateral trade ties, but also benefit the downstream businesses of India, the MOC said in a statement on its website.     China hoped to increase exchanges and cooperation on trade issues with the Indian government and encouraged dialogue and cooperation among industries for mutual benefit, it said.     The Directorate General of Safeguards under India's Ministry of Finance initiated a safeguard investigation on passenger car tire imports from China in May, according to the statement.     A safeguard duty, a temporary relief, usually takes the form of increased duties to higher than bound rate or standard rates or quantitative restrictions on imports.     According to Indian government statistics, from April to December last year, India imported 20 million U.S. dollars worth of tires involved in the case from China.

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FRANKFURT, Oct. 13 (Xinhua) -- Chinese Vice President Xi Jinping on Tuesday called for enhancing cultural exchanges to boost world peace at the opening ceremony of the Frankfurt Book Fair.     Xi, together with German Chancellor Angela Merkel, witnessed the opening of the 61st version of the Frankfurt Book Fair, the world's biggest annual book fair. China has been selected as the Guest of Honor for this year's fair. Chinese Vice President Xi Jinping speaks at the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair. German Chancellor Angela Merkel attends the opening ceremony of the Frankfurt Book Fair.While addressing the opening ceremony, Xi said the fair not only provides a vital chance for China to appreciate the elite cultural products worldwide, but also opens a window for the people from various nations to observe Chinese culture at a shorter distance.     Xi said the Chinese side will take the opportunity of serving as the Guest of Honor to introduce Chinese culture as well as its prosperous development in the publishing industry.     The Chinese side will also learn from the successful experience of other countries in publishing to increase mutual communication and cooperation in this particular field, Xi said. Chinese Vice President Xi Jinping (L) talks with German Chancellor Angela Merkel when they attend the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book FairFrom Oct. 14 to Oct. 18, the Chinese side and the host will stage over 600 Guest of Honor events, aimed at showcasing Chinese culture and boosting dialogue between Chinese scholars and their foreign counterparts.     Xi said China upholds the idea of building a harmonious world with sustained peace and common prosperity.     Thanks to the exchanges among various cultures, people from different countries could get to know Johann Wolfgang von Goethe (1749-1832) from Germany, William Shakespeare (1564-1616) from Britain and Confucius (551 BC-479 BC) from China, Xi noted. Chinese Vice President Xi Jinping (C) attends China's presentation after the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair.Frankfurt is the hometown of Goethe, the famous German writer and poet.     Cultural exchanges require understanding and respect, as well as overcoming discrimination and misunderstanding in this regard, Xi said.     Cultural diversity, which is a part of human society, should be maintained to build a more colorful world instead of becoming obstacles for cultural exchanges and reasons for conflicts, Xi said. Chinese Vice President Xi Jinping (C) and German Chancellor Angela Merkel (2nd R) pose for photos while attending the opening ceremony of the Frankfurt Book Fair in Frankfurt, Germany, Oct. 13, 2009. China is the Guest of Honor for the Frankfurt Book Fair. Different cultures should learn from each other rather than reject each other, he added.     Xi also warmly welcomed worldwide guests to visit the Theme Pavilion set up by the Chinese side for the book fair.     Following the opening ceremony, Xi visited the Theme Pavilion and officially unveiled the hall for public tour.     Arriving in Germany on Saturday morning, Xi held talks with Merkel and met with German President Horst Koehler in Berlin on Monday.     On Wednesday morning, Xi will leave Germany for Bulgaria to continue the third leg of his five-nation Europe tour.

BEIJING, Aug. 28 (Xinhua) -- The Communist Party of China (CPC)plans to launch the third stage of its current campaign to deepen the study and practice of the Scientific Outlook on Development, the kernel ideology of the CPC Central Committee with Hu Jintao as the general secretary.     The third stage, which starts in September and ends in February2010, is designed to carry out at grassroots level, involving 1.22million Party organizations and 37.5 million Party members, accounting for 32.8 percent and 50 percent of the total numbers, respectively.     These were remarked by Xi Jinping, member of the Standing Committee of the CPC Central Committee Political Bureau, at Friday's meeting here to summarize the experience of the second-stage of the CPC's educational drive and usher in the third stage.     The campaign was initiated by the CPC Central Committee in September 2008, with a goal to promote the study and practice of the Scientific Outlook on Development in the whole Party. The first and second stages were conducted at higher-level Party committees.     The third stage will mainly involve Party organizations of townships, communities, villages, residential blocks, secondary schools, middle and elementary schools, hospitals, private companies, and non-government organizations, according to Xi, who is also a Secretariat member of the CPC Central Committee and head of the CPC Central Committee's leading group for the campaign.     He urged Party organizations at different levels to make substantial efforts to help "the massive Party members have a deeper understanding of the Scientific Outlook on Development."     Third stage will be focused on resolving critical problems concerning the interests of the masses and it should be integrated with the celebration of the 60th founding anniversary of the People's Republic, Xi said.

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.

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BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED).     It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market.     China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations.     The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet.     From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises.     Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said.     The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said.     The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II.     In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust.     "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet.     The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said.     Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters.     "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said.     The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation.     The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.  

BEIJING, Oct.17 (Xinhua) -- China's civil aviation industry made profits of 9.1 billion yuan (about 1.33 billions U.S. dollars) in the first nine months of 2009, despite the punch by the financial crisis on the world's civil aviation industry, said the Civil Aviation Administration of China (CAAC) on Saturday.     Domestic air passenger traffic volume grew by 23.6 percent from a year earlier in first nine months of this year.     Performance of small airports, those that handle less than 1 million passengers annually, were most inspiring, said Li Jiaxiang, director with the CAAC, at the 2009 China International General Aviation Convention held in northwest China's Shaanxi Province on Saturday.     Li said that passenger volume of small airports grew 26.7 percent year on year to 14.87 million in the first half.     He contributed the vibrant performance of small airports and regional air routes to the more balanced economic development of China's different regions in recent years, which was the result of the country's strategies to develop the relatively poor western and central regions and to revive the old industrial base in northeastern regions.     Besides, the fact that Chinese people are becoming richer and CAAC's policies carried out last year to subsidize small and medium-sized airports and regional air routes also helped the passenger volume rise of small airports, said Li.     By the end of 2008, China had 116 small airports, accounting for 73 percent of the total number of the country's airports.

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BEIJING, Sept. 5 (Xinhua) -- The Chinese economy is experiencing a "V" shape recovery and the growth rate may reach 8 percent both this year and next year, said Chinese economist Fan Gang said here Saturday.     Fan, a monetary policy adviser to China's central bank, said at the 2009 annual conference of CEO in Beijing, that the economy will see a sustainable recovery and will be back to normal in 2011,according to a report of the China News Service.     He predicted that the real estate investment will increase by around 30 percent in 2010, which will add one percentage point to economic growth.     Corporate investment is expected to grow prominently next year and as the global trade is warming up, Chinese export, which still enjoys the cost advantage, will recover.       "After the economy is back to normal in 2010, the government will adjust the macro-economic policy. But before that happens, the current stimulus policy should stay to sustain the recovery," he said.     Fan said people should adjust their expectation of economic growth and not regard recovery simply as a double-digit growth. A growth grate of 8 percent to 9 percent is sustainable growth.

BEIJING, Oct. 6 (Xinhua) -- China's new yuan-dominated loans in September was expected to reach 300-400 billion yuan (44-59 billion U.S. dollars), China Securities Journal reported on its website Tuesday.     The figure was less than that of August, which hit 410.4 billion yuan.     Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), provided the figure during an International Monetary Fund (IMF) conference held in Istanbul, Turkey on Monday.     New loans in the first eight months stood at 8.15 trillion yuan, far exceeding the full-year target of five trillion yuan, according to he People's Bank of China, the central bank, this September.     The CBRC reiterated in September that domestic lenders should seek to enhance their risk management and stick to regulatory requirements to reduce worries over financial risks caused by rapid credit growth this year.     China began to adopt a moderately easy monetary policy in last November in a bid to maintain economic development amid the financial crisis.