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BEIJING -- Chinese Foreign Minister Yang Jiechi on Thursday night urged all concerned parties to resume the Iranian nuclear talks as soon as possible."The Iranian nuclear issue is now at a crucial moment. China hopes all concerned parties, including Iran, make joint efforts to resume negotiations as soon as possible in a bid to promote the comprehensive and proper settlement of this issue," Yang told Iranian chief nuclear negotiator Saeed Jalili in their talks in Beijing.Yang reiterated China's consistent position on the Iranian nuclear issue, saying China has always advocated a peaceful solution to the issue through diplomatic negotiations, supported the international non-proliferation system, safeguarded regional peace and stability and made continuous efforts in this regard. Jalili said Iran's nuclear plan is completely of a peaceful nature. He added Iran appreciates China's position of a peaceful solution and the country is ready to strengthen cooperation with the International Atomic Energy Agency (IAEA) and resolve the issue through negotiations.The two sides also exchanged views on bilateral ties. Yang said China is satisfied with the continuous progress of bilateral exchanges and cooperation in various fields in recent years and hopes both sides make joint efforts to make greater progress in the friendly and cooperative ties between the two countries.Jalili said Iran and China have a friendly relationship and share a good basis of cooperation. He added Iran is ready to strengthen mutually beneficial cooperation with China in extensive fields

BEIJING -- China may entirely switch to non-food materials such as cassva, sweet potato, sorgo and cellulose in producing ethanol fuel as a substitute for petroleum, said a government official. The country would approve no projects designed to produce ethanol fuel with food from now on, an official of the National Development and Reform Commission (NDRC) told a seminar on China's fuel ethanol development held in Beijing on Saturday. "Food-based ethanol fuel will not be the direction for China," said Xu Dingming, vice director of the Office of the National Energy Leading Group, who was also at the seminar. China has been trying to avoid occupation of arable land, consumption of large amount of grain and damages to the environment in developing the renewable energies. The current four enterprises engaged in producing corn-based ethanol would be asked to switch to non-food materials gradually, according to the NDRC official who declined to be named. The four enterprises in Jilin, Heilongjiang, Henan and Anhui have a combined production capacity of 1.02 million tons of corn-based ethanol per year. The country has become a big producer and consumer of ethanol fuel in the world after the United States, Brazil and European Union, according to the NDRC official. China Oil and Food Corporation (COFCO), the country's largest oil and food importer and exporter, would focus on sorgo in the production of non-food-based ethanol fuel, said Yu Xubo, president of COFCO at the seminar. COFCO, which owns the Heilongjiang enterprise and has a twenty-percent stake in the Anhui enterprise, aims to produce five million tons of ethanol fuel based on sorgo in the near future. COFCO is leading the way in developing cellulosic ethanol fuel under a cooperation agreement with Denmark-based Novozymes, which leads the world in researches into the key enzymes needed in large-scale production of cellulosic ethanol. The current cost for producing ethanol fuel from stalks of corn, which are discarded by farmers, is still too high. Novozymes is working on the commercialization of cellulosic ethanol both in the United States and China. "We are optimistic about China's prospect of making it work ahead of the US, as the cost of collecting the stalks of corn are much cheaper in China," said Steen Riisgaard, president and CEO of Novozymes. There is much opposition both in China and in the world to corn-based ethanol fuel, which is believed will lead to higher corn price.

BEIJING -- Chinese investors should be suspicious of phone calls, online messages and websites touting highly profitable stocks, the Ministry of Public Security warned on Tuesday. "As China's stock prices are soaring constantly, there has been a rise in the number of cases of illegal activities in the stock market, which has undermined the normal market order and threatened investor security," the ministry said in a notice on its official website. The government has repeatedly warned investors of illegal securities companies that swindle clients of funds with claims of high returns. The ministry said scam artists used Internet and phone calls to illegally tout stocks, funds or stock ownership to investors. The swindlers charged unwary investors high fees for fake stock tips and then quickly disappeared after having collected a huge sum of money. The funds or stock ownership, which were touted online or by phone, were often nonexistent, the ministry said. Investors were also hoodwinked into buying fake "initial offerings" of stocks that were not listed on the exchanges. Other scams include cases in which investors' shares were stolen and sold by criminals, who had stolen investors' account numbers and codes. The ministry urged investors to be alert and not to trust promoters who touted unrealistic high returns, or accept stock tips from unidentified persons online or on the phone. It also urged investors to be aware of computer security and to stop trading immediately when discovering a computer virus. The China Securities Regulatory Commission has pledged to curb illegal trading and fraud in the stock market. In February, the State Council approved the China Securities Regulatory Commission to lead a cross departmental team to crack down on illegal securities business.

WASHINGTON - The Bush administration is imposing further trade sanctions against China, South Korea and Indonesia in a dispute involving glossy paper. The decision, announced Wednesday by Commerce Secretary Carlos Gutierrez, came a week after US and Chinese officials met for a second round of high-level talks aimed at lowering trade tensions between the two nations. "This administration continues to aggressively and transparently enforce our trade laws to ensure a level playing field for American manufacturers, workers and farmer," Gutierrez said in a statement announcing the decision. In the new ruling, the government determined that imports from the three countries of glossy paper - used in art books, textbooks and high-end magazines - were being sold in the United States at less than fair value, a process known as dumping. The dumping penalties will be collected immediately although they will not become final until this fall after further investigations are conducted. The preliminary dumping penalty for the paper products from China ranged from 23.19 percent to 99.65 percent. The dumping penalty imposed on imports of glossy paper from Indonesia was 10.85 percent while the penalty on South Korean imports ranged as high as 30.86 percent. These dumping penalties will be imposed on top of economic sanctions levied in March after the administration found that paper companies from those three countries were receiving improper government subsidies that allowed them to undercut the price of American producers. The March decision reversed 23 years of US trade policy by treating China, which is classified as a nonmarket economy, in the same way other US trading partners are treated in disputes involving government subsidies. The paper case was brought by NewPage Corp., a Dayton, Ohio-based paper company which contended that its coated paper was facing unfair competition because of the government subsidies and sale of imports at unfairly low prices. The government trade sanctions have received the support of the United Steel Workers union, which represents about 90 percent of the workforce in the US coated paper industry. The glossy paper is produced at 22 paper mills in 13 states. The penalties in the case involving government subsidies are known as countervailing duties. In that case, the trade sanctions ranged as high as 20.35 percent for Chinese glossy paper imports, 1.76 percent for South Korean imports and 21.24 percent for Indonesia. Chinese officials denounced the decision in the government subsidies case saying that it went against the consensus of both countries to resolve disputes through dialogue rather than imposing trade sanctions. The second round of the Strategic Economic Dialogue, which was launched by Treasury Secretary Henry Paulson in December, was held in Washington last week. Paulson and Chinese Vice Premier Wu Yi announced a series of modest agreements including the boosting of airline flights between the two nations. But they failed to make progress in one of the biggest rade irritants, the value of China's currency, which American manufacturers contended is being kept artificially low against the dollar to give Chinese companies unfair advantages against US firms.

China's Premier Wen Jiabao said on Wednesday macro control measures should be further strengthened to prevent the fast-growing national economy from overheating. The monetary policies should be stable in general but "moderately tightened" to secure a stable and fast-growing economy, said Premier Wen at a meeting of the State Council. Wen said the country will continue to implement its current prudent fiscal and monetary policies. He called for fiscal policies to be more supportive of industrial restructuring. He said industrial production is growing at a rate that is faster than desired and the trade surplus is too big. China's trade surplus in May soared to US.45 billion, up 73 percent from the same month last year. Wen said the country would continue to adjust export rebates and tariffs on certain items while further improving policies to boost imports in a bid to address the climbing trade surplus. Sustained fast growth of investment, excessive liquidity in the capital market and rising inflation pressure also deserve more attention, said Wen. Wen said the government would control the supply of land and bank loans to high energy-consuming projects. He also said financial, fiscal and taxation measures should be employed to guide the flow of capital. He said there should be more channels for capital outflow and for the use of foreign exchange. Rising food prices have caused the consumer price index (CPI) to rise 3.4 percent in May, higher than the government's target of three percent. Wen pledged to stabilize food prices by ensuring the food supply and enhanced supervision over food quality.