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BEIJING, Dec.25 (Xinhua) - Chinese Vice Premier Zhang Dejiang on Saturday called for speeding up China's industrial restructuring and improvements in scientific innovation to set the foundation for building a well-off society.Zhang made the remarks while delivering a speech at a national work conference on industrialization and information-based economy.Zhang stressed that China should step up its industrial restructuring and strengthen its competitiveness in the next five years by improving the manufacturing sector, nurturing the emerging industries with strategic importance, developing producer service industries, optimizing enterprise structures and establishing a modern industrial system.Scientific innovation is the key to industrial restructuring, while raising information levels is also an important measure, said Zhang.China should also boost green industries and low-carbon economies to embark on a road of sustainable development, he said.

NEW YORK, Jan. 17 (Xinhua) -- A video show about Chinese people made its debut on screens at Times Square on Monday, presenting Americans a multi-dimensional and vivid image of Chinese people.With China's traditional red as the theme color, the 60-second video was shown on six screens simultaneously at Times Square with a billboard written "Experience China" on top of the screens. The show highlights Chinese ordinary people and some important figures recognized by the international community, including Chinese pianist Lang Lang, basketball player Yao Ming and Chinese astronaut Yang Liwei, etc."The layout of the video is quite smart. I like it," Charlotte Mcguckin, 18, a high school student in New York, told Xinhua, adding that "everyone (in the video) looks happy.""Look, that's Yao Ming. I can recognize him, and also the female table tennis player standing beside him. She is very famous, " she said, pointing to the giant screen. "I learned in class that U.S. and China started diplomatic ties from playing the table tennis," she smiled.For Si Yaqin, who came to New York with her son for vacation, watching the debut of the video is a once-in-a-lifetime experience. "It's my first time to New York, first time to Times Square," she told Xinhua. "How lucky I am here to witness this moment. I feel so proud as a Chinese."The video is part of the public diplomacy campaign by the Chinese government ahead of Chinese President Hu Jintao's U.S. state visit. The video will be shown at Times Square 15 times every hour from 6 am to 2 am next day, totaling 20 hours and 300 times a day. It will last till Feb. 14 with a total of 8,400 times of show time.Meanwhile, CNN also plans to run the video from Jan. 17 to Feb. 13.

PORT LOUIS, Jan. 7 (Xinhua) -- Visiting Chinese Vice Premier Hui Liangyu called for closer ties with Mauritius while meeting with Mauritian President Sir Anerood Jugnauth at the State House here on Friday.Jugnauth commended the mutual beneficial cooperation between the two countries and expressed appreciation for China's assistance to Mauritius in the past years.The Mauritius president said that he is impressed by China's achievement in developing its economy and turning into an important country in the world.Visiting Chinese Vice Premier Hui Liangyu (1st L) meets with Mauritian President Anerood Jugnauth in Port Louis, Mauritius, Jan. 7, 2011.For his part, Hui noted in the meeting that China and Mauritius have enjoyed cordial relationship since the two countries established diplomatic ties in 1972 and with more frequent exchange of high level visits and deepening cooperation in multi-sectors, the bilateral ties have been further strengthened.He said during the visit of Chinese President Hu Jintao to the Indian Ocean island country in 2009, the Chinese president and Mauritius officials resolved to push the bilateral cooperation to a higher level.As the two countries are embracing the 40th anniversary of the establishment of diplomatic ties next year, China is committed to building stronger ties with Mauritius in various aspects, he said.Hui started his three-day visit to Mauritius on Friday, the first leg of his five-African country tour which will also take him to Zambia, the Democratic Republic of Congo, Cameroon and Senegal.

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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