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TASHKENT, April 24 (Xinhua) -- Uzbek President Islam Karimov and visiting Chinese State Councilor Meng Jianzhu both have pledged to deepen the mutually beneficial cooperation between their countries. Uzbekistan wishes to further deepen its mutuallu beneficial cooperation with China on politics, economy, trade and security, which will benefit the two countries and the two peoples, Karimov said Friday during a meeting with Meng.China-Uzbekistan relations developed smoothly in 2009, said Meng, who also attended the fifth session of the Shanghai Cooperation Organization (SCO) Security Council Secretaries in Tashkent.Leaders of the two countries have kept close contacts, which is a strong driving force for the development of bilateral ties, Meng said.The two countries have expanded their pragmatic cooperation in various fields and conducted effective cooperation on international and regional issues, he said.China values its traditional friendship with Uzbekistan and wishes to promote the friendly and cooperative partnership between the two countries. The partnership complies with the fundamental interests of the two countries and it is conducive to maintaining regional peace and stability, Meng said.During his visit, Meng also held talks with Uzbek Interior Minister Bahodir Matlubov and Chief of Security Rustam Inayatov.The two sides held an extensive and in-depth exchange of views on exchanges of law enforcement agencies and the promotion of law enforcement cooperation between the two countries.
BEIJING, June 3 (Xinhua) -- Revised regulations on internal management, discipline and formation regulation of the People's Liberation Army (PLA) are issued Thursday to further advance the army's development and modernization.Chinese President Hu Jintao, also Chairman of China's Central Military Commission, recently signed an order to promulgate and enforce the three regulations.Unlike the previous version, the revised regulation on internal management adopted provisions on psychological counselling to armymen and provisions on their use of mobile phones and the Internet.It also modified a wide range of provisions covering oath, dress and bearings, as well as confidentiality rules, security systems and financial management.The three revised regulations are to come into force from June 15 this year.

BEIJING, May 3 -- Ma Weihua, president and chief executive officer of China Merchants Bank (CMB), said he wanted to see Chinese banks elevate their level of globalization in the context of expedited overseas expansion of Chinese companies during his bank's recent road show in the United States. He said CMB would pursue this process ambitiously but cautiously.The bank is soon to relocate its night-shift foreign exchange trading team to its New York branch, which was established in 2008, and will move on to security trading as well in the future, according to Ma during a group interview. The branch is also working on consolidating its dollar settlement business."What I'm concerned about right now is to first have my New York branch familiarized with the US market, customers and rules as soon as possible so I can expand the business steadily," Ma told the audience at a recent speech at New York University's Leonard N. Stern School of Business. "We won't consider faster expansion until we have secured our position here."Because of policy restrictions, CMB and other Chinese banks are only able to provide very limited services overseas for now. Retail banking, which CMB is best at, is still being constrained in its New York branch, its first branch in the West. But the bank is eyeing up other opportunities.The branch is attaching increasing importance to the loan business for Chinese companies during their overseas merger and acquisition activities. It just completed a big deal for a Chinese State-owned conglomerate but declined to reveal its name."The most fundamental motive to globalize our bank is to support Chinese companies' overseas growth and to provide the same quality service for foreign companies as well when they come to China," Ma said.According to Ma, over the past five years, Chinese companies' overseas direct investment saw an annual increase of 60 percent and their non-financial overseas investment grew by 68.5 percent year-on-year.In comparison, overseas assets only make up less than 4 percent of Chinese banks' total assets, while in large banks in Europe and the US, the proportion is about 40 percent, he said.
BEIJING, April 27 (Xinhua) -- China's Ministry of Commerce Tuesday made a cautious prediction for the outlook of the nation's foreign trade for the rest of the year amid the fragile global economic recovery.The rebound of China's overseas shipments in the first quarter can largely be attributed to the low comparison base of the same period last year, the commerce ministry report said.Moreover, uncertainty in the global market remains as high unemployment in European Union nations and low capacity-utilization in the United States may dampen consumption and investment, the report said.China is facing deteriorating trade conditions as trade protectionism is on the rise, the report added.China suffered 19 trade-remedy investigations in the first quarter, up 93.5 percent over the same time last year. The investigations, targeting Chinese products, involved trade worth 1.19 billion U.S. dollars, the report said.The report also said higher costs may squeeze domestic enterprises' profits as a result of raw material price hikes and rising labor costs.China's exports increased 28.7 percent year on year in the first quarter of 2010 after dipping 16 percent last year amid the global economic downturn, customs data showed.
来源:资阳报