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YEKATERINBURG, Russia, June 15 (Xinhua) -- Chinese President Hu Jintao met here Monday night with Indian Prime Minister Manmohan Singh.     Hu said China has always striven, steadfastly and from a strategic and long-term perspective, to promote good neighborliness and friendly cooperation with India, an important neighbor of China and also a fast-growing emerging power.     The Chinese side is ready to work with the Indian side to maintain the sound momentum for development of the bilateral strategic and cooperative partnership, make greater efforts to implement the "10 strategies" reached between the leaders of the two countries, enhance mutual political trust and reciprocal cooperation in various fields, take into consideration each other's concerns and core interests, and strengthen coordination and cooperation on major international and regional issues, said Hu. Chinese President Hu Jintao (L) meets with Indian Prime Minister Manmohan Singh in Yekaterinburg, Russia, on June 15, 2009    He noted that the two sides should focus on the following key areas in efforts to promote bilateral ties.     The first is to strengthen high-level contacts.     The Chinese side welcomes Indian President Pratibha Patil to visit China in the latter half of this year, and Chinese leaders are considering visiting India at a time convenient to both sides.     The Chinese side agreed in principle to establish a hot line between the Chinese premier and the Indian prime minister.     The second is to deepen bilateral economic and trade cooperation of mutual benefit. The two sides should continue to tap potentials, encourage two-way investments, expand cooperation in contracted projects, and strive to realize the target of 60 billion U.S. dollars in bilateral trade in the year 2010.     The third is to work together to respond to the impact of the international financial crisis. The Chinese side will strengthen communication and coordination with the Indian side, maintain close cooperation within the frameworks of BRIC, the five developing nations and the Group of 20, safeguard the common interests of the developing countries, and strive to contribute to economic recovery and development of Asia and the world at large.     The fourth is to strengthen bilateral defense cooperation which is an important component of overall bilateral cooperation. The two sides should make concerted efforts to strengthen cooperation in this regard.     The fifth is to strengthen cultural exchanges. Both sides should make good planning and preparations for a series of activities, such as those marking the 60th anniversary of bilateral diplomatic ties and concerning The Chinese Festival in India and the Indian Festival in China. Both sides will continue to receive each other's delegations consisting of young people, officials, and people from news media and different localities, promote friendly exchanges in various fields and at various levels through visa facilitation and increasing direct air flights.     On border issues, Hu expressed the hope that the two sides would continue to advance the negotiating process in the spirit of peace and friendship, equal consultations, mutual respect and mutual accommodation so that the border issues could be properly resolved at an early date.     Both sides should do their utmost to ensure that the border issues do not undermine the overall situation of bilateral ties, he said.     Before these issues are eventually resolved, both sides should make joint efforts for maintaining peace and tranquility along the border region, he said.     With the efforts of both sides, Hu said, the Sino-Indian strategic and cooperative partnership will see sound development and the growth of bilateral relations will bring benefits to the two peoples.     Singh said the two countries forged the strategic and cooperative partnership during his tenure as prime minister. Bilateral ties have been     deepening, he said.     India will give top priority to its relations with China and is committed to advancing bilateral cooperation in various fields on the basis of progress made in the past, he said.     He expressed his appreciation for the increasingly important role China is playing in international affairs and China's important contributions to world peace and development.     He said China is not a competitor and that there is enough room in the world for the two countries to achieve development. The two countries share the desire to promote their bilateral ties and there are also potentials for them to cooperate on global and regional issues, he added.     Singh described economic cooperation as an important "pillar”of the overall bilateral relationship and said enhanced economic ties could     give an impetus to the development of bilateral ties.     On military-to-military exchanges, Singh said that steady growth in exchanges between the armed forces of the two countries is to enhancing mutual trust and mutual understanding.     He also said that India and China share common interests on such issues as global trade and investment, climate change and the reform of the international financial order and should strengthen consultation and cooperation in addressing these issues.     On border issues, he said the Indian government is seeking a solution that should be fair, reasonable and acceptable to both sides. Before the issues are finally resolved, efforts should be made to ensure peace and tranquility along the border region, he said.     India recognizes the Tibet Autonomous Region as part of the territory of the People's Republic of China and will not allow anyone to carry out anti-China political activities in Indian territory, he said.     He said a healthy and stable bilateral relationship serves the interests of the two countries and also conforms to the interests of the region and the world at large.     Hu and Singh are here to attend the annual summit of the Shanghai Cooperation Organization (SCO) and the first meeting of BRIC, scheduled to be held in Russia's third largest city Wednesday.     Indian is one of the four observers of the SCO, a regional organization now groups China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The other three observers are Pakistan, Mongolia and Iran.     BRIC is an acronym for the four key emerging economies -- Brazil, Russia, India and China. Chinese President Hu Jintao (3rd L) meets with Indian Prime Minister Manmohan Singh (3rd R) in Yekaterinburg, Russia, on June 15, 2009

BEIJING, July 19 (Xinhua) -- Scholars and officials from other countries have strongly denounced the July 5 riot in Urumqi, capital of China's Xinjiang Uygur Autonomous Region, and expressed their

BEIJING, May 31 (Xinhua) -- China will raise gasoline and diesel benchmark retail prices by 400 yuan (58.6 U.S. dollars) per tonne as of Monday, the National Development and Reform Commission(NDRC) announced Sunday.     The benchmark retail price for gasoline would increase by 7 percent and the price of diesel by 8 percent, said a statement on the NDRC website. It is the third oil price adjustment this year. On March 25, the NDRC, the country's top economic planner, lifted benchmark retail price of gasoline by 290 yuan per tonne and diesel by 180 yuan per tonne.     The increase was in response to the rising international crude prices under the country's the new fuel pricing mechanism, which took effect Jan. 1, according to the NDRC. China will raise gasoline and diesel benchmark retail prices by 400 yuan (58.6 U.S. dollars) per tonne as of Monday, the National Development and Reform Commission(NDRC) announced Sunday.    According to the new mechanism, China's domestic prices are to be "indirectly linked" to global crude prices "in a controlled manner." China would adjust domestic fuel prices when global crude prices reported a daily fluctuation band of more than 4 percent for 22 working days in a row.     NDRC pricing department official Xu Kuning has explained the "indirect link" as "based upon average global crude prices, while taking into account domestic production costs, taxation, and 'appropriate profits' of oil producers."     Crude prices have jumped 30 percent in May, the largest monthly rise since March 1999, boosted by expectations of a global economic recovery later this year.     Light, sweet crude for July delivery rose 1.23 dollars, or 1.9 percent, to settle at 66.31 dollars a barrel Friday on the New York Mercantile Exchange.     In Sunday's notice, the NDRC urged the two state-owned oil producers, PetroChina and Sinopec, to increase oil production to meet demand.     It also urged local pricing regulators to strengthen supervision over oil prices and crack down on any price violations.

BEIJING, May 1 (Xinhua) -- New rules to punish "statistical fouls" took effect Friday in China.     The rules, the country's first of their kind, were jointly published by the Ministry of Supervision, Ministry of Human Resources and Social Security and the National Bureau of Statistics (NBS).     The rules impose penalties for publication of fraudulent statistics or unauthorized dissemination of statistical data.     Penalties including dismissal, demotion or unspecified "criminal punishment" face those who unlawfully alter statistics or ask others to do so and those who take revenge on people who refuse to fabricate data or blow the whistle on illegal acts.     People who leak data concerning state secrets, personal information or business secrets, or who delay the reporting of statistics, would face similar penalties.     The new rules require government offices to carefully maintain and deliver files of criminal cases and quickly release investigation results.     Analysts said statistics are not just key data for the government, they are also vital in making decisions about social and economic affairs.     Statistics "concern public credibility of both statistical authorities and the government," said Fan Jianping, chief economist with the State Information Center.     As the world's fastest expanding economy, China has faced questions about the accuracy of its national economic data. The most recent figure drawing global attention was the decade-low, 6.1 percent year-on-year economic growth rate in the first quarter, which was released April 16.     Since the country's opening-up, the quality of statistics has improved. An article on the Wall Street Journal China's website said China's economic statistics were actually very impressive, "with relatively timely, accurate, and comprehensive data published on a range of key indicators".     But it also pointed out that there is a political economy of numbers with an incentive at both the local and national levels to massage the statistics. Many China watchers have noted the incentives for local officials to over-report growth to please their political masters.     Officials who participated in drafting the new rules admitted that incorrect or falsified statistics have been released at times.     Statistical corruption has been found in China for years to exaggerate local economic growth, which is often related to officials' promotion.     In April, southeastern Fujian Province said that it handled 754cases concerning forged statistics last year and imposed fines up to about 1.38 million yuan (203,000 U.S. dollars).     "As the country strives to cushion the impact of the global slowdown and maintain steady economic growth, they should use the rules as a deterrent to statistical fouls," said Wang Tongsan, an economist with the Chinese Academy of Social Sciences, a government think tank.     Wang also suggested the government should reform the evaluation system for officials and increase training for statistical staff.     China's top statistics official, Ma Jiantang, has vowed to improve the quality and credibility of government statistics after foreign media voiced concerns about the authenticity of Chinese economic data.     "To keep (official statistics) true and credible is not only our duty, it also relates to our need to accept public supervision," Ma said in a statement on the NBS website.

BEIJING, June 2 (Xinhua) -- The China Investment Corporation (CIC), the country's sovereign wealth fund, announced Tuesday that it decided to buy 1.2 billion U.S. dollar common stocks in Morgan Stanley's 2.2-billion-U.S.-dollar common stock offering.     Morgan Stanley announced Tuesday it had priced a public offering of common equity of 2.2 billion U.S. dollars. The proceeds are intended to fully redeem the preferred capital of the Troubled Asset Relief Program (TARP) before the end of June.     The TARP is a program of the United States government to purchase assets and equity from financial institutions in order to strengthen its financial sector. It is the largest component of the U.S. government's measures in 2008 to address the subprime mortgage crisis.     Morgan Stanley notified the CIC of the offering in light of its healthy business relationship with CIC and the preemptive rights CIC holds. CIC plans to participate in this offering, according toa notice on its Web site.     CIC was optimistic in Morgan Stanley's future development as "Morgan Stanley is widely expected to be able to leverage on its strengthened financial position and will be on the road of resuming its successful trajectory amid the dramatic restructuring of the international financial services industry".     On December 19, 2007, CIC purchased 5.6 billion U.S. dollars mandatory convertible securities into Morgan Stanley common stock, representing approximately 9.86 percent equity ownership in Morgan Stanley.     However, after Mitsubishi UFJ Financial Group, Inc.'s investment in Morgan Stanley in October 2008, CIC's equity ownership was diluted to approximately 7.68 percent.     This new purchase would bring CIC's equity ownership in Morgan Stanley back to approximately 9.86 percent, effectively reducing CIC's overall cost basis and increasing the returns potential, said CIC.     According to a statement posted on Morgan Stanley Web site Tuesday, it has priced a public offering of approximately 80.2 million shares of common stock to the public at 27.44 dollars per share.     CIC has agreed to purchase 44.7 million shares of common stock at the public offering price while the Mitsubishi UFJ Financial Group, Inc. has agreed to buy 16 million shares, the Morgan Stanley statement said.

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