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TOKYO, May 31 (Xinhua) -- Visiting Chinese Premier Wen Jiabao called on Japanese entrepreneurs Monday to make further contributions to the cooperation between the two countries.Addressing a welcome luncheon given in his honor by the Japanese Business Federation, the Chinese premier briefed the participants on what the Chinese government has achieved in tackling the global financial turmoil, as well as China's current economic situation and its major tasks.Wen said great progress has been made in bilateral economic and trade relations since the normalization of diplomatic ties between the two countries in 1972. China and Japan have become a major trade partner to each other, bringing their economic ties increasingly closer and paving the way for a greater future for cooperation.Chinese Premier Wen Jiabao addresses the welcome luncheon held by Japanese business group in Tokyo, capital of Japan, May 31, 2010.Responding to questions from Japanese entrepreneurs, the Chinese premier expressed his hope that the two countries would always keep in mind the long-term development of the bilateral ties, continue to draw on each other's strength, broaden cooperation in energy conservation, environmental protection, circular economy so as to achieve a win-win result.Premier Wen noted that the Japanese business community has all along been committed to promoting the friendly cooperation between the two countries, serving as a major force to boost the bilateral ties and a key link between the two peoples. It is his hope that Japanese entrepreneurs will further contribute to economic and trade cooperation between the two countries.Hiromasa Yonekura, president of the Japanese Business Federation, said Japanese entrepreneurs have confidence in China's future development and are ready to blaze new trails in pushing forward the bilateral economic and trade cooperation.Premier Wen arrived here on Sunday for a three-day official visit. Japan is the second leg of his four-nation Asian tour, which has taken him to South Korea. He will also visit Mongolia and Myanmar.

BEIJING, May 2 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced Sunday it will raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year amid growing concerns of asset bubbles and economic overheating.The bank said in a statement on its website that it would raise the deposit reserve requirement ratio (RRR) for financial institutions by half a percentage point from May 10.The ratio for the rural credit cooperatives and rural banks would remain unchanged at 13.5 percent, said the PBOC.However, the RRR for other small financial institutions would rise to 14 percent, and that for large financial institutions to 17 percent.This is the third rise in the deposit ratio this year. On Jan. 12 and Feb. 17, the central bank raised the deposit ratio by half a percentage point each time.The move indicated the government was taking further steps to tighten monetary policy in response to concerns of overheating and asset bubbles, said Liu Yihui, an expert with the Financial Research Center of the Chinese Academy of Social Sciences (CASS).The PBOC has cut the bank reserve requirement ratio four times during the second half of 2008 to stimulate growth, as the global financial crisis started to weigh on the economy.The country posted a better-than-expected 11.9 percent year-on-year economic growth in the first quarter, but the government was cautious and had repeatedly warned that the economic conditions this year were "very complicated."China's consumer price index (CPI), the main gauge of inflation, saw a rise of 2.4 percent year on year in March, nearing the ceiling of 3 percent inflation this year that the government has set at the annual parliamentary session that month."There is an obvious tendency of overheating," Liu said.

BEIJING, May 21 (Xinhua) -- The U.S. commerce chief Friday said the United States would complete its review of the exports control system this summer, without specifying the possibly relaxed controls against exports to China."With respect to our export control reform, we want to have that done by this summer," U.S. Commerce Secretary Gary Locke told reporters during his trade mission to China Friday.Locke is leading a delegation of business executives from American clean energy companies looking to China's fast growing green energy market, the size of which the United States has predicted will be 100 billion U.S. dollars by 2020."We have restrictions on items already readily available from companies around the rest of the world and our restrictions make no sense," Locke said.The United States' 1979 Export Administration Act limits the export sales of some commercial high-technology goods to China.The exports control system, operated by the U.S. Defense Department and the Commerce Department, is widely seen as a major cause for the trade imbalance between China and the United States.U.S. products accounted for 7.5 percent of China's high technology imports last year, down from 18.3 percent in 2001 partly due to the U.S. exports control system, according to China's Commerce Ministry."If the share in 2001 is used as a benchmark, U.S. companies lost at least 33 billion U.S. dollars worth of export opportunities in 2009," Commerce Minister Chen Deming said in March.In a meeting with Locke Thursday, Chinese Deputy Commerce Minister Ma Xiuhong said China-U.S. cooperation would be impaired unless the United States takes substantive measures to ease its restrictions on exports to China.Locke didn't specify which exports are likely to be available to China,citing U.S. national security as the major factor to be considered when reviewing the export control system.Locke stressed restrictions will be eased on some commonly available high-tech goods and strengthened on sensitive technologies with military uses."We need to intensify and increase our protection on some very super-sensitive technologies to make sure that they don't get in the hands of those who want to do America ... harm, especially terrorist organizations," he said."Some of it can be implemented almost immediately while some can be done in a matter of months once there is agreement within the administration on the review," Locke said in response to Xinhua's question on when the new export control system will be in operation.

PORT-AU-PRINCE, March 27 (Xinhua) -- Edmund Mulet, head of the UN Stabilization Mission in Haiti (MINUSTAH), on Saturday extended his gratitude to the Chinese peacekeepers and riot police in the quake-ravaged country."I am here to show my respect to the Chinese riot police team and our sincere gratitude for your outstanding performance on behalf of the United Nations," said Mulet during an inspection tour of their campsite.He noted the United Nations was satisfied with the high efficiency of the eighth contingent of Chinese riot police, which was sent to Haiti for the second time. Though there have been several rotations, their dedication and commitment to the peacekeeping mission remain unchanged.When they lost eight members in the 7.3-magnitude earthquake, the Chinese squad did everything they can to tackle the challenges and support MINUSTAH's operation. They had won wide acclaim by the local people, he said."I feel gratified to work with such an excellent police team like you," Mulet added.During the inspection, he also watched and spoke highly of the fighting performance of the Chinese police.Mulet is a Guatemalan diplomat and had previously served as the UN Secretary General's Special Representative to Haiti. He succeeded Hedi Annabi as head of the MINUSTAH after Annabi died in the Haiti earthquake.

WASHINGTON, April 24 (Xinhua) -- China's central bank chief on Friday called for the International Monetary Fund (IMF) to accelerate its process to shift its quota to emerging market and developing countries."The quota structure is the core issue in Fund governance. The severe underrepresentation of emerging market and developing countries in the IMF seriously affects the Fund's legitimacy and effectiveness, and must be promptly corrected," said Zhou Xiaochuan, governor of People's Bank of China at the IMF and its sister institution -- the World Bank's spring meeting in Washington.The Group of 20 (G20) Pittsburgh Summit in September had called for a shift of at least 5 percentage points, and protection of the voting rights of the poorest countries before January 2011.But so far the quota adjustment process is slow. The previous quota reform, which was already approved by the IMFC -- the IMF's steering committee -- in 2008, has not been completed until now.Zhou said that the IMF is a quota-based institution, and quotas should be its primary resource.He emphasized that quota adjustment and reform is not a zero- sum game. "A Fund with a more reasonable governance structure will be better able to protect global economic and financial stability which will benefit all member countries. We urge the Fund to accelerate its work, and complete quota reviews on schedule in accordance with the G20 Pittsburgh Summit and IMFC objectives," Zhou said.According to the IMF's latest World Economic Outlook report, growth speeds of developing countries are much faster than the advanced economies, meaning their weight in the global economy is increasing dramatically.However, quota of the developing countries in the IMF is underrepresented."We expect the review to leave no member's quota share severely misaligned," Zhou said.