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TIANJIN, Oct. 4 (Xinhua) -- The United Nations' chief climate change negotiator applauded China on Monday for its efforts in dealing with the challenge of climate change, saying she was impressed by the determination of the Chinese people and their government.Christiana Figueres, executive secretary of the United Nations Framework Convention on Climate Change(UNFCCC), made the remarks in China's northern city of Tianjin at a welcoming reception held by the Chinese government.A new round of UN climate talks is being held in the port city on Oct. 4-9 in preparation for the year-end Cancun summit in Mexico."Here in Tianjin, I have seen much evidence of determination," said Figueres."(I saw the) determination of the government of China to reduce their CO2 emissions per unit of GDP by up to 45 percent by 2020, (and the) determination of the people of China to turn China into the world's leader in renewable energy technology and to find a visionary balance among economic development, poverty eradication and climate protection."Figueres also praised the host city, saying, "(I saw the) determination of the government of Tianjin, China's fourth-largest city, to be a model city for the circular economy, a pilot city for low-carbon growth and an exemplary city for sustainable development.""A striking example is the Tianjin Eco-City project between Singapore and China and with significant private sector investment, which will provide eco-friendly housing for some 350,000 people," she added.More than 3,000 delegates from 177 parties and observer states and over 200 non-governmental organizations are attending the Tianjin gathering, the final one prior to the United Nations Climate Change Conference to be held in Cancun at the end of this year.Figueres concluded her speech at the reception with a Chinese proverb, "Zhong Zhi Cheng Cheng," which means "With everyone's determination, we can do anything." She also urged all the participants to make concerted efforts to reach a consensus during the climate talks.  

BEIJING, Oct. 13 (Xinhua) -- Jiang Shusheng, vice-chairman of the Standing Committee of the National People's Congress (NPC) of China, met here Wednesday with a delegation from All Party Parliamentary China Group of the United Kingdom.The delegation, led by Chair Mark Hendrick, was invited by a China-UK friendship group of the NPC.

BEIJING, Sept. 9 (Xinhua) -- Central banks should provide incentive mechanisms for banks to extend more loans to support the real economy, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), or the central bank, said Thursday.Speaking at a forum in Beijing sponsored by Oxford University and the China Development Research Foundation, Zhou reviewed the worldwide central banks' role in helping grapple with the financial crisis, pointing out that zero interest rate policies adopted in many countries could discourage banks from extending lending.He said, however, that a central bank should maintain a certain interest rate margin, which will help banks to recover from damages brought by the global credit crunch and strengthen their abilities to extend loans.

BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

BEIJING, Nov. 5 (Xinhua) -- The quota shift, or the voting power redistribution of the International Monetary Fund (IMF), is just the start of IMF reform, a senior Chinese foreign affairs official said here Friday."G-20 leaders have pleged that progress should be made in terms of IMF quota reform prior to the Seoul summit, and now we will honor the commitment," said Chinese Vice Foreign Minister Cui Tiankai at a news briefing on China's outlook for the G20 summit in Seoul next week.At a G-20 finance ministers' meeting held last month, participants agreed to shift six percent of the IMF quota to emerging or under-represented countries such as China, India and Brazil, from developed economies."This is obvious progress," Cui commented on the proposal forged at the minister-level meeting, adding that the Chinese side hoped the IMF's board would agree on the quota transfer."China is one of the under-represented countries and it's rational and sensible to give China more quota," said the vice foreign minister.China would not try to maximize its own interests, but seek an all-win situation with other emerging economies and other IMF members, Cui added.Cui said the quota shift was far from the end of the IMF reform and he looked forward to more changes to the financial institution."This is not the end, not even the beginning of the end, but the end of the beginning," Cui said.Many countries have said that the way to calculate the quota itself needs to be reformed, as well as the IMF governance structure.