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NAIROBI, Sept. 3 (Xinhua) -- Kenyan President Mwai Kibaki met here Friday with chen Zhili, vice chairwoman of the Standing Committee of National People's Congress (NPC), China's top legislature with both promising to make efforts to enhance bilateral ties.During the meeting, Chen expressed appreciation to President Kibaki and the Kenya government for the pivotal role they played in brokering peace in Sudan and the horn of Africa.Chen assured President Kibaki that China would provide the necessary support for peace and stability in the horn of Africa."Kenya, as a neighbor and the guarantor to the Comprehensive Peace Agreement (CPA) on Sudan, requires the support and not condemnation from the international community in her efforts to broker peace in Sudan," Chen said.The Chinese official also congratulated President Kibaki and other coalition government partners for the passage and promulgation of the country's new constitution.She thanked Kenya's support for the One-China policy.The two also exchanged views on enhancing Kenya-China cooperation under the China-Africa Cooperation Forum (FOCAC).President Kibaki hailed the cordial bilateral and trade relations between the two countries which have continued to flourish through exchange visits at all levels.The Kenyan president particularly expressed gratitude to China for its immense contribution to the African country's infrastructure development over the past years.Kibaki noted with appreciation that China is today one of the leading bilateral donors to Kenya's infrastructure development with a cumulative official development assistance reaching 36.7 billion Shillings.China and Kenya have signed agreements and MOUs in various fields including technical and cultural cooperation, trade, education, health, energy, agriculture and cooperative development.

WASHINGTON, Oct. 6 (Xinhua) -- China's growth is projected to average 10.5 percent in 2010 and 9.6 percent in 2011, driven by domestic demand, the International Monetary Fund (IMF) said in a report Wednesday.The Washington-based international lending agency made the projection for the annual fall meetings this weekend of the 187-nation IMF and its sister lending organization, the World Bank."The slight moderation in recent activity is expected to continue through 2011 in light of tighter quantitative limits on credit growth, measures to cool off the property market and limit bank exposure to this, and the planned unwinding of fiscal stimulus in 2011," the IMF said in its report.The report said this year's sustained growth in retail sales and industrial production confirms that private sector activity has advanced beyond the lift from government stimulus."On average over 2010-11, private domestic demand is poised to contribute two-thirds of near term growth, and government activity about one third, whereas the contribution from net exports will be close to zero," the report said.Despite the robustness in domestic demand, the pickup in inflation in 2010 reflected mainly higher food prices rather than core inflation, the report said.The report said China's increasingly wide trading network is driving growth in numerous economies, especially commodity exporters.The report said Asia's medium-term growth depends on the rebalancing of drivers of growth -- greater reliance should be put on domestic markets instead of foreign demand.The report said such a rebalancing in China, the world's second largest economy, is critical to enhance the role of household consumption in domestic growth.The report also recommended that China implement reforms to health care, education, and pension systems to enhance the social safety net.

TALLINN, Sept. 22 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), opened here on Wednesday the first Confucius Institute in the Baltic region.Li, a member of the Standing Committee of the CPC Central Committee's Political Bureau, said he hopes the facility, jointly launched by Estonia's prestigious Tallinn University and China's Guangxi University with the help of the Chinese Language Council ( also known as Hanban), would serve as a regional center for spreading Chinese culture and offer quality courses for Estonians who are interested in the Chinese language and eager to understand the Chinese culture.Tallinn University is the sole university in this Baltic country that boasts a Chinese major. It has enrolled Chinese- learning students in the past two decades.Rein Raud, rector of the university, reached an agreement with China's Hanban to set up a Confucius Institute on campus during a visit to Beijing in February. Guangxi University was chosen at the time to be its Chinese partner.The Confucius Institute at Tallinn University will offer the public three-month-long courses that teach both the Chinese language and the Chinese culture.The first set of those courses has been overbooked by Estonians, as more and more people in the country become interested in the language and culture of a booming China.Li, while talking with students majoring in Chinese at Tallinn University, encouraged them to study hard and learn more about the Chinese culture."I hope you can be ambassadors of cultural exchanges between China and Estonia, proponents of bilateral economic and trade cooperation and even Sinologists," he said.He added that cultural exchanges are meaningful projects which can "sow the seeds of friendship between China and Estonia" and play an important role in the overall bilateral relationship."The steady development of state-to-state relations is based on favorable public opinions toward each other, which can be nurtured through cultural exchanges," he said.Raud said the establishment of the Confucius Institute at the university was a landmark event in Chinese language learning and the spread of the Chinese culture in Estonia.He pledged to work closely with Guangxi University to build the Confucius Institute into a center for spreading the Chinese culture in the Baltic region.Earlier in the day, Li met with a senior Estonian parliament member on bilateral relations.He also paid a visit to the Port of Tallinn and was briefed on its latest development plans. The port has been trying to build itself into a regional maritime transportation center by seeking support from Chinese partners.Li arrived in Tallinn on Tuesday for a three-day official goodwill visit. Estonia is the first leg of his four-nation tour which will also take him to Montenegro, Ireland and Iran.

BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

BEIJING, Sept. 6 (Xinhua) -- Chinese top political advisor Jia Qinglin on Monday met with nearly 60 foreign political leaders and scholars on the eve of a forum to discuss global trends and common challenges.The forum will take place in Beijing on Tuesday and Wednesday and is organized by the National Committee of the Chinese People's Political Consultative Conference (CPPCC),the country's top advisory body.The forum's theme for its fourth conference is "new era, new challenges, new vision -- building a future for all.""It is significant for the 21st Century Forum to hold a conference on the global situation, challenges and visions," Jia, chairman of the CPPCC National Committee, said.More than 100 officials, scholars and business executives from home and abroad will attend the two-day conference of the 21st Century Forum.As the world has been undergoing deep changes, transformation and adjustment, it is imperative for all countries to be interdependent, reform the international financial system and build a justifiable and reasonable world order, Jia told the foreign attendees to the forum.Among the foreign attendees are some well-known dignitaries, including former Nigerian President Olusegun Obasanjo, former European Commission President Romano Prodi, former Australian Prime Minister John Howard, former Russian Prime Minister Evgeni Primakov, former German Chancellor Gerhard Schroeder and former Japanese Prime Minister Yasuo Fukuda.Jia briefed foreign leaders on China's economic and social development, stressing China remained the world's biggest developing country despite its economic boom."It will take China decades of unremitting efforts to accomplish modernization," Jia said, adding China would adhere to the path of socialism with Chinese characteristics.Jia said China would continue to pursue peaceful development and develop friendly cooperation with all countries in accordance with its independent foreign policy.Jia reaffirmed China's efforts to play its due part in dealing with global challenges and contributing to world peace and development.Nigerian President Olusegun Obasanjo called for all countries to pursue a path of cooperation and common prosperity.After the meeting, Jia also hosted a welcome banquet for forum attendees.The 21st Century Forum convened its first conference in 1996. The purpose of the forum is to serve as a platform for leaders, scholars and experts from China and other countries to explore global trends and crucial issues of common interest to mankind in the 21st century.