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MADRID, June 19 (Xinhua) -- Senior official of the Communist Party of China (CPC) He Guoqiang met with leaders of Spain's Popular Party (PP), a major opposition party in the country's parliament, and Spanish Communist Party (PCE) on Tuesday.     While meeting with PP President Mariano Rajoy, He, member of the Standing Committee of the Political Bureau of the CPC Central Committee, said PP was an important political force in Spain and made positive contribution to the growth of China-Spain ties.     He said China appreciated PP's efforts to building China-Spain comprehensive strategic partnership, which was established in 2005when Chinese president Hu Jintao visited Madrid.     He, also secretary of the CPC's Central Commission for Discipline Inspection, said the CPC attached great importance to its exchange with the PP and would like to increase party-to-party contacts, enhance mutual understanding between the two peoples and promote a long-term and steady growth of bilateral ties.     Saying China was a country with a promising future, Rajoy hailed his party's communication with the CPC as very helpful.     Rajoy briefed He on the recent European Parliament election, which took place in early June in 27 member states of European Union (EU), and the latest development of the European integration. Rajoy also gave He an analysis of how the global financial crisis took a toll on Spain and the world.     In return, He introduced the impact of the crisis on China's economy and finance as well as the country's responsive measures and their effects.     In another meeting with PCE General Secretary Francisco Frutos, He said PEC played an important role in safeguarding Spain's political democracy, social progress and laborers' rights. He said PCE made unremitting efforts to exploring a socialist path that fits Spain's reality.     He reviewed the long-standing friendly exchanges between the CPC and the PCE, which He said worked for the development of country-to-country ties.     Citing the CPC's great importance on ties with the PCE, He said the CPC would like to deepen party-to-party friendly cooperation for the interests of both countries and their peoples.     He said the CPC's pursuit of a socialism path with the Chinese characteristics was the foremost experience in the party's rule of country over the last six decades.     Frutos said the PCE and the CPC had some ideals in common, thus their exchange of ideas and friendly cooperation would be significant for both parties' growth.     China's anti-graft chief arrived in Madrid on Monday after concluding an Egypt tour. The fortnight visit will also take him to Jordan and Mongolia.

BEIJING, June 22 (Xinhua) -- China's top political advisor called Monday for more resources and support for alternative fuel vehicles to boost the car industry and spur the economy.     Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, a political advisory body, made the call during a visit to Beijing-based FOTON, Asia's largest commercial vehicle manufacturer. Jia Qinglin (C), chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, talks with a worker about new energy automobiles, in Beijing, China, June 22, 2009. Jia Qinglin did researches on new energy automobiles in Beijing on Monday. "Alternative fuel vehicles represent the future of the car industry," he said. Such vehicles would improve the environment, reduce the impact of the financial crisis and trigger new technologies, he said during a research tour.     Jia, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, urged using innovation as a priority to develop the industry, and improve research and development abilities.     He also called for more "backbone companies" with their own property rights, brands and market competitiveness.     Automakers "need to improve production abilities and services. They also need to develop more products and functions to meet market demand," he said.

VIENNA, May 15 (Xinhua) -- Chinese top legislator Wu Bangguo and Austrian President Heinz Fischer met here Friday afternoon, agreeing to further expand cooperation on bilateral and international issues in face of the global financial storm.     Wu arrived in Vienna Friday morning for an official goodwill visit to Austria. He is the first Chairman of the Standing Committee of China's National People's Congress (NPC) who visited Austria in the past 15 years. Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Austrian President Heinz Fischer in Vienna on May 15, 2009. Wu Bangguo arrived in Vienna on May 15 for a four-day official goodwill visit to Austria. During his meeting with Fischer, Wu emphasizes that China places great importance on further developing relations with Austria. He said China is ready to expand friendly contact between the governments, parliaments and political parties of the two countries on a basis of mutual respect, equality and mutual benefits.     Wu said the two countries should enhance mutual understanding and trust so as to deepen cooperation in various fields and carry out closer coordination and communication on international affairs.     Fischer appreciates the responsible stance and measures that China has taken in addressing international financial crisis. He said the financial crisis has caused great impact on every country in the world and required joint effort of all countries in addressing it.     Wu briefed Fischer about China's policy measures to address the financial crisis and maintain stable, fast economic growth.     Both sides agreed that despite differences on such issues as Tibet, they should join efforts to bring in a new era of bilateral relations.     Fischer reiterated that Austria will as always stick to the one-China policy, which is a consensus of all political parties in Austria. This stance will never change under any circumstances.     Wu appreciated Fischer's statement and reiterated China's principled stance on the Tibet issue.     On China-EU relations, Wu said both sides should firmly support each other's development by joining hands to address global challenges, including financial crisis and climate changes. He said the two sides should join efforts to curb trade and investment protectionism and maintain rapid growth of trade and economic cooperation.     Wu hopes Austria will play a constructive role in advancing China-EU relations.     Fischer expressed the belief that Wu's visit to Austria will help enhance friendship and advance cooperation in all fields between the two countries. 

BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating.     The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China.     The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company.     The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong.     Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves.     Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong.     Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy.     Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.

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.