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BEIJING, April 12 -- As the country begins to phase out obsolete production methods in an economic restructuring drive, industries with overcapacity are likely to face even tougher financing terms this year.In response to the government call to curb excessive capacity, the banking regulator earlier this year asked lenders to maintain strict controls on loans flowing into industries including steel, cement, plate glass, shipbuilding, electrolytic aluminum, the chemical processing of coal and polysilicon.Liu Mingkang, chairman of the China Banking Regulatory Commission, said that commercial lenders should readjust their credit structures to support the country's industrial upgrading and restructuring drive."Loans to industries with overcapacity were growing at a significantly lower pace last year compared with that of the overall credit expansion," he said. Given that the country was considering an exit from the loose monetary policy implemented to counter the financial crisis last year, analysts said credit avenues for industries listed on the government "blacklist" were set to be limited. The Chinese government is targeted to give out 7.5 trillion yuan in new loans this year, lower than the record 9.59 trillion yuan lent in 2009.Indeed, industries with excessive capacity have not benefited from the lending binge last year, as commercial lenders' loans to such industries continued to drop. China Construction Bank (CCB), the nation's second largest lender, said its loans to industries with overcapacity accounted for 12.8 percent of the bank's total outstanding loans as of the end of last year, down from 15.7 percent a year earlier."We've decided to gradually exit from lending to industries with excessive capacity, and will only support leading enterprises in these industries and projects approved by the government," said CCB Vice-President Chen Zuofu.Bank of China, the most aggressive in pushing out credit among Chinese lenders last year, said outstanding loans for overcapacity industries declined to 219 billion yuan as of the end of last year, and account for 7 percent of the bank's total corporate loans.

BRASILIA, April 15 (Xinhua) -- Chinese President Hu Jintao and the leaders of Brazil, Russia and India met in Brasilia on Thursday to discuss the world economic and financial situation and other important global issues.This was the second time the four leaders met formally for a summit.The first summit of Brazil, Russia, India and China, collectively known under their acronym BRIC, convened in Yekaterinburg, Russia, last year.At the Brasilia summit, leaders of the four countries were to exchange views on major global issues, such as the world economy and financial situation, reform of the international financial system, climate change and cooperation among the four countries, Chinese diplomats said.China hopes the summit participants could discuss global issues in the spirit of mutual benefit, so as to facilitate the recovery of the world economy, safeguard the four nations' common interests and advance their cooperation, Qin Gang, a Chinese foreign ministry spokesman, said at a regular press briefing on April 1.He said that China always adopted a "positive, pragmatic, open and transparent" attitude toward cooperation with other BRIC nations.Closer cooperation and exchanges among the four nations would be conducive to increasing the influence of emerging and developing countries, and promoting the development of multilateralism, he said.As major emerging markets, the BRIC countries account for 42 percent of the world's population and 15 percent of the world's GDP. The BRIC countries have become an important force in the international community, receiving worldwide attention.

BEIJING, May 25 (Xinhua) -- Chinese Vice Premier Li Keqiang said Tuesday China must accelerate its transformation of economic growth pattern as the global economy was undergoing structural changes.Li made the remark when he met with members of the International Advisory Council of the China Development Bank (CDB) in Beijing.Li briefed the advisory council members about China's economic situation and its macro-economic policy.He said China had to advance its economic restructuring while continuing the process of reform and opening, to improve people's livelihoods and to enhance the vitality, competitiveness and sustainability of the economy. Chinese Vice Premier Li Keqiang (front L) meets with members of the International Advisory Council of the China Development Bank (CDB) in Beijing May 25, 2010.Li said the world economic recovery was still fragile and faced a great deal of instability and uncertainty. He said the international community should further enhance policy coordination and improve the financial supervision system.The International Advisory Council of the CDB was established in 1999. It consists of notable figures from political, financial and academic circles around the world, including former Australian Prime Minister Paul Keating.The advisory council members were in Beijing for an annual meeting focusing on global economic and financial situation, the international financial crisis and the CDB's role in economic recovery.During the meeting with Li, Keating relayed his appreciation of China's success in maintaining stable and fast paced economic growth and contributing to the recovery of world economy.Keating said over the years, the advisory council members had come to realize that the CDB was a rare and valuable institution. He expressed willingness to further expand links between the CDB and institutions outside of China.

PARIS, April 27 (Xinhua) -- French President Nicolas Sarkozy says he wants to enhance Franco-Sino relations at all levels because China has an indispensable role to play on the global stage.The French president was speaking in an interview with Xinhua Tuesday before his visit to China, where he will attend the 2010 World Expo in Shanghai.President Sarkozy described bilateral ties and partnership as comprehensive as well as strategic."Comprehensive, because it covers all aspects of our relationship; strategic, because China has become an absolutely essential player on the international stage. There is no more big issue today that we can tackle without China," Sarkozy said.Referring to the establishment of the France-China diplomatic relations 45 years ago, the president said some misunderstanding between the two countries had belonged to the past and he held a firm confidence in China's future."This is why I made the strengthening of the Franco-Chinese partnership a priority of our foreign policy," Sarkozy said.He said relations between the two countries had warmed and France would like to further ties with China "in all dimensions."

NINGBO, Zhejiang, May 16 (Xinhua) -- Internet of Things (IOT) -- which refers to digital networks of physical objects -- has huge potentials but many challenges lie ahead, said scientists, entrepreneurs and government officials on Sunday.IOT has become a catchword for those at the Information and Communication Technology and Urban Development Forum held in east China's coastal Ningbo this weekend on the sidelines of the Shanghai Expo; from ministers to mayors, scientists to entrepreneurs, keynote speakers to audiences.China should accelerate the development of the IOT industry so as to create a new platform for economic growth, said Li Yizhong, Minister of Industry and Information Technology in his opening speech to the forum.The first theme forum of the Shanghai World Expo is closed in Ningbo, a coastal city of east China's Zhejiang Province, May 16, 2010. The two-day forum focusing on information and communication technologies (ICT) and urban development attracted over 600 participants including renowned scholars and entrepreneurs.Minister Li's words were echoed by Zhao Hongzhu, communist party chief of Zhejiang Province, who called for more efforts to develop such key concepts as IOT, which, in his words, "present a brilliant future for urban life."In what's called Internet of Things, networks of real-world objects are linked to the Internet and interact through web services. As more objects are embedded with sensors, giving them the ability to communicate, and networked together, the possibilities are enormous, potentially resulting in new business models, improved business processes and reduced costs and risks, according to a March 2010 report by McKinsey & Co..