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BEIJING, Oct. 26 -- Shanghai has applied to regulators to launch a free exchange between the yuan and the New Taiwan dollar to enhance financial cooperation, the head of the Shanghai Financial Service Office said Sunday.     "With growing trade between Shanghai and Taiwan in recent years, we hope that a free exchange between the yuan and the New Taiwan dollar can be conducted in Shanghai as a trial," said Fang Xinghai at the 6th China International Finance Forum.     "We have applied to the regulators and expect it will be approved soon," Fang said at the two-day forum which ended Sunday.     Shanghai has recently launched a cross-border currency clearing system and Fang expects that it will be extended to Taiwan soon.     By the end of April, Taiwan had invested 5 billion U.S. dollars in more than 6,000 projects in Shanghai, and trade between the two sides totaled 13.68 billion dollars in the first eight months of this year.     Although the two sides must overcome some barriers in financial cooperation, Fang said they can explore possibilities in innovative products, such as exchange-traded funds that enable investors to buy or sell shares in an entire benchmark portfolio.     "The Shanghai Stock Exchange is making efforts to introduce ETFs based on overseas equity indices (and) we can also expect Taiwan and the mainland to introduce ETFs based on each other's index," Fang said.     The two sides can also cooperate in sectors that are not directly supervised by the central government, such as venture capital.     "Taiwan is very successful in the venture capital sector, while the Chinese mainland is still in the first stage. Policies have now been eased so that Taiwan VC firms can set up branches on the mainland," Fang noted.     The Chinese mainland and Taiwan in April sealed a cooperative financial regulatory mechanism.

BEIJING, Nov. 17 (Xinhua) -- Chinese President Hu Jintao said here on Tuesday that the key to Sino-U.S. relations was to mutually respect and accomodate each other's core interests and major concerns while differences from different national conditions were normal.     "The China-U.S. relations are very important. Maintaining and promoting such ties is a shared responsibility of both sides," Hu told reporters here after meeting visiting U.S. President Barack Obama.     China is ready to work together with the United States to push forward the continuous, healthy and stable development of Sino-U.S. relations to better serve the interests of the two peoples and the people around the world, said the Chinese leader.     Hu said that the two sides have reaffirmed the "cardinal principle" of "mutually respecting national sovereignty and territorial integrity" and voiced opposition to any attempt by any force that violates this principle.     He said that China appreciates President Obama's support for the one-China policy and the three Sino-U.S. joint communiques, and his respect for China's national sovereignty and territorial integrity on the Taiwan issue and other matters.     "We have both agreed to conduct dialogues and exchanges on issues including human rights and religion, in the spirit of equality, mutual respect and non-interference in each other's internal affairs, so as to boost understanding, mitigate differences and broaden consensus," Hu said. 

BEIJING, Nov. 20 (Xinhua) -- Chinese President Hu Jintao said on Friday that China hopes to advance the strategic cooperative partnership with the Republic of Korea (ROK).     "We will work with the ROK to increase friendly exchanges at various levels and enhance pragmatic cooperation in various sectors," Hu told Kim Hyong-o, speaker of the ROK National Assembly.     Hailing the smooth development of China-ROK ties in recent years, Hu said the leaders of the two nations had maintained frequent contacts, exchanged views often and reached broad consensus on important issues.     "This gives strong impetus to the growth of bilateral relations," Hu noted. Chinese President Hu Jintao (R) meets with Kim Hyong-o, speaker of South Korea's National Assembly, in Beijing, capital of China, Nov. 20, 2009    The two nations had also witnessed fruitful cooperation in economy, trade, environmental protection and energy, and made active exchanges between parliaments, political parties and people, he said.     "Our coordination in international and regional affairs are close," he added.     Both China and the ROK were faced with important tasks to promote economic recovery, improve people's life and safeguard peace and stability, Hu said, noting that to keep the stable and healthy growth of bilateral ties would not only benefit the two nations and the two peoples, but also help promote regional and world peace and development.     The government also supports the legislative organs from both countries to expand exchanges and cooperation, the president said, expressing his hope that the ROK parliamentary members would make efforts to promote China-ROK friendship.     Echoing Hu, Kim spoke highly of China's measures to cope with the international financial crisis and to maintain stable and rapid economic growth.     The ROK-China relations were at its best period in history, and the ROK National Assembly would work with the National People's Congress (NPC) of China to contribute to the further growth of ties between the two nations, Kim noted.     Kim is visiting China from Nov. 18 to 22 at the invitation of Wu Bangguo, chairman of the NPC Standing Committee.

BEIJING, Dec. 10 (Xinhua) -- Ruling parties of China and Japan on Thursday pledged to deepen trust and work together for a stronger strategic relationship of mutual benefit between the two countries.     The pledge came out of a meeting between Chinese President Hu Jintao and Secretary General of the Democratic Party of Japan (DPJ) Ichiro Ozawa in Beijing on Thursday afternoon. Ozawa is leading a delegation of 600-strong members, including 146 DPJ lawmakers from the upper and lower houses of the Japanese Diet, for a four-day visit in Beijing. Chinese President Hu Jintao (R) meets with Secretary General of the Democratic Party of Japan (DPJ) Ichiro Ozawa in Beijing, capital of China, Dec. 10, 2009. Ozawa led a delegation of 600-strong members for a four-day visit in Beijing    The group is the first DPJ-led delegation to China since the DPJ came to power in September.     Hu started the meeting by calling Ozawa "an old friend of the Chinese people who visited China many times and made important contribution to bilateral relations." Chinese President Hu Jintao (R) shakes hands with members of a delegation led by Ichiro Ozawa, secretary general of the Democratic Party of Japan (DPJ), in Beijing, capital of China, Dec. 10, 2009.This was the third meeting in Beijing between Hu and Ozawa, who visited China in capacity of the DPJ leader in 2006 and 2007.     "The Communist Party of China (CPC) attaches great importance to relations with DPJ and would like to work together to improve party-to-party exchange mechanism," said Hu, who is the general secretary of the CPC Central Committee.     Hu called for concerted efforts to make the mechanism an important platform for the two ruling parties to hold dialogues, enhance trust, promote cooperation and seek common development in a bid to boost the sound and in-depth growth of bilateral relationship.     Ozawa echoed Hu's views, saying the DPJ was committed to bolstering Japan-China ties and would continue to make best of the party-to-party exchange mechanism for a better strategic relationship of mutual benefit.     On the broader China-Japan relations, Hu said the two countries had interacted actively and undergone a smooth transition since the DPJ became Japan's ruling party in September.     Hu said he and Japanese Prime Minister Yukio Hatoyama reached important consensus on furthering the strategic relationship of mutual benefit and bringing the bilateral relationship to a new era.     Stressing the principle and spirit of four political documents between the two countries, Hu said China would like to work more closely with Japan to properly address the sensitive issues between them and jointly tackle global challenges.     Ozawa praised China's economic and social progress and its constructive role in international affairs.     Ozawa said profound changes in the international arena offered a broad prospect for Japan and China to work together in all fronts.     Prior to the two leaders' meeting, Hu and the Japanese delegation had their group photos taken at the Great Hall of the People in downtown Beijing.     The delegation was the 16th one under the "Great Hall Program," a people-to-people exchange scheme initiated in 1989. The program has so far sent about 350 Japanese lawmakers and more than 2,000 representatives from various circles to visit China.