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NEW DELHI, Dec. 16 (Xinhua) -- Chinese Premier Wen Jiabao and his Indian counterpart Manmohan Singh on Thursday reaffirmed their commitment to promote bilateral relations.In their talks, Wen said the relationship between China and India has experienced an unusual course of development over the past 60 years. However, friendly cooperation has always been the main stream, which is not only in the interest of both countries and peoples, but also helpful for peace and development of the region and the world at large.The Chinese premier, who arrived here Wednesday for his second official visit to India following the trip in 2005, pointed out that this year marked the 60th anniversary of the establishment of China-India diplomatic ties.He said he is satisfied with the progress of bilateral relations over the years and looks forward to the future.The two countries should grasp the historical opportunity to boost political and strategic mutual trust and move forward the China-India relations along the track of lasting friendship, mutually beneficial cooperation and common development, Wen added."I hope my current visit is the one to carry on the past and open a way for future, which will further enhance our win-win cooperation," Wen said.Singh said that high-level exchanges between China and India have become closer, and political and strategic mutual trust has continuously improved.He said that the comprehensive cooperation in all fields has been enhanced ever since the two countries established a strategic and cooperative partnership for peace and prosperity five years ago.At present, the two countries are at a crucial stage of development, Singh said.He said the enhancement of communications and cooperation was not only conducive to the development of India and China, but also will push forward the rejuvenation of Asia and promote world peace and development."I believe the visit of Premier Wen will give a new impetus to bilateral relations," Singh said.

BEIJING, Jan. 12 (Xinhua) -- Chinese Vice President Xi Jinping on Wednesday urged the Hong Kong-based Chinese General Chamber of Commerce (CGCC) to increase support for the local government and further contribute to regional economic development."Hong Kong's current situation is good in general, but it also faces many challenges. As an important patriotic group, the CGCC should shoulder its responsibilities to ensure and boost the region's prosperity and stability," Xi said in Beijing while meeting a visiting CGCC delegation.Xi noted that the group had been making great contributions to Hong Kong and the mainland by actively participating in the region's social affairs and economic development.Xi said Hong Kong had overcome problems created by the global financial crisis, and was undergoing a strong economic revival.Xi also said that the central government had been taking effective measures to support the region's economic development and improve local people's livelihoods.The CGCC, founded in 1900, is one of the oldest and largest non-profit organizations of local Chinese firms and businessmen in Hong Kong. It has more than 6,000 members.The delegation was led by CGCC chairman Jonathan Choi Koon-shum.

BEIJING, Nov. 26 (Xinhua) -- Wang Gang, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, met in Beijing with a delegation of the Communist Party of the Russian Federation (KPRF).The delegation, led by Dmitry Novikov, secretary of KPRF Central Committee, is on a ten-day visit to China.Wang Gang (R), a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, who is also a vice chairman of the National Committee of the Chinese People's Political Consultative Conference, shakes hands with Dmitry Novikov, secretary of Communist Party of the Russian Federation (KPRF) Central Committee, in Beijing, capital of China, Nov. 26, 2010. Dmitry led a young cadre delegation of KPRF for a visit to China. Wang, also vice chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), said the CPC cherished the friendship with the KPRF, which is an opposition party of Russia.The CPC was ready to work with the KPRF to improve multi-level exchange and cooperation in different fields and to make joint efforts in fully expanding Sino-Russian strategic partnership of coordination, he said.

BEIJING, Nov. 26 (Xinhuanet) -- The Shanghai municipal government is making moves to enhance its mergers and acquisitions (M&As) market, a move in tune with the cosmopolitan city's ambition to make itself a global financial hub by 2020.The city will initially actively propel the construction of its financial market and M&A-related auxiliary services, especially the agents who facilitate deals, to aid these activities, said Shanghai Vice-Mayor Tu Guangshao on Thursday.He said the local government is also considering setting up a China Mergers and Acquisitions Association in Shanghai.Meanwhile, plans to open an M&A museum are also in the pipeline to help create an M&A culture in the city."We've made concrete efforts to encourage benign conditions to allow these plans to materialize," Tu said.The M&A market, in turn, will help catalyze improvements in the city's financial market functions, structures, and systems, as well as boosting badly needed adjustments to its economic structure. This will help Shanghai further speed up its plans to become a global financial center by 2020, an ambition which was approved by the State Council in March 2009.According to figures from the Shanghai headquarters of the People's Bank of China (PBOC), there are 11 financial institutions running M&A loan businesses in the city, lending more than 10 billion yuan (.5 billion) during the first seven months of this year.The central government in September issued guidelines on the promotion of enterprise M&A in six major industries, including automobiles and cement, to accelerate cross-border corporate restructuring and cater for the nation's aim of rebalancing the economy as the 12th Five-Year Plan (2011-2015) approaches."We should increase support for cross-border M&A activities, which is of great significance to China's economy and will help stimulate the Asian economic recovery," said Su Ning, board chairman of China UnionPay, the country's only credit card network.The former vice-governor of the PBOC also urged more private firms, which have actively sought areas of overseas expansion, to participate in cross-border deals using their extensive capital resources.China's private economy accounts for more than half of the nation's gross domestic product, according to Huang Mengfu, vice-chairman of Chinese People's Political Consultative Conference. "Active private investment, as such, is pivotal to the nation's economic development the non-State economy will certainly replace investment by State-owned firms as a driving force to boost the Chinese economy after the financial crisis," said Huang, who also serves as chairman of All-China Federation of Industry and Commerce.Privately owned auto maker Zhejiang Geely Holding Group in August completed its .8 billion acquisition of a stake in Volvo Car Corporation, a move which emphasizes the desire of China's cash-rich private companies to make acquisitions abroad.In addition, industry experts said that financial institutions should develop more financial innovations to supply China's overseas acquisition wave, and encourage more private equity funds to participate in cross-border deals, rather than simply focusing on pre-Initial Public Offering projects.

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