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BEIJING, April 13 (Xinhua) -- The State Council, China's Cabinet, released here Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.According to the regulations, the State Council said China will continue to support Chinese A-share listed companies in further introducing strategic investors from home and abroad, and standardize foreign companies' investment in domestic securities and corporate merger and acquisition moves.A national security examination mechanism will be built as soon as possible for foreign-funded companies' merger and acquisition operation in China, according to the regulations.Qualified foreign-funded companies are allowed to go public, issue corporate bonds or medium-term bills in China.Multinationals are encouraged by the regulations to set up regional headquarters, research and development centers, procurement hubs, financial management and other functional offices in China.Importing items for scientific and technological development by qualified foreign-funded R&D centers will be exempt from tariffs, importing value added tax and goods and services tax by the end of 2010, according to the regulations.Foreign-funded enterprises are also encouraged to increase their investment in China's central and western regions, particularly in environment friendly and labor-intensive companies.

CHICAGO, April 21 (Xinhua) -- The Chicago-based Boeing Company reported on Wednesday that its first-quarter net earnings were 519 million U.S. dollars, down 15 percent from 610 million dollars in the same quarter last year, citing the health care legislation charge.The aerospace and defense giant said in its first quarterly financial report that total revenues for the first three months were 15.22 billion dollars, down from 16.50 billion dollars in the prior year quarter while the earnings per share was down to 70 cents from 86 cents one year ago.Boeing indicated that the results for the quarter reflect solid performance across core businesses and a previously disclosed 20 cents charge per share on health care legislation, while the year- ago quarter results were reduced by 31 cents per share on a charge due to poor market conditions in commercial airplanes."With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said Jim McNerney, Boeing chairman, president and chief executive officer.Boeing's earnings guidance for 2010 is pegged at 3.50 dollars to 3.80 dollars per share, reduced from 3.70 to 4.00 per share due to the charge on health care legislation. At the same time, the company continues to expect that 2011 revenue will be higher than 2010, primarily driven by projected 787 and 747-8 deliveries."Our outlook remains attractive, and we are focused on executing well and delivering on our commitments to customers," said McNerney.The report also indicated that the 787 program continued flight testing during the quarter, as an additional two airplanes joined the two airplanes already in the flight test program.The Dreamliner completed key flight test milestones such as flutter, stall and ground-effect tests. On March 28, the static test unit successfully completed the ultimate load test with a fully pressurized cabin.The 787's first delivery is expected in the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 866 airplanes from 57 customers.

BEIJING, June 7 (Xinhua) -- China's central authorities have set down a more open policy to attract top-notch foreign talents to help promote the economic and social development and global competitiveness of the nation.According to the newly unveiled National Medium and Long-term Talent Development Plan (2010-2020), the government will work out favorable policies in terms of taxation, insurance, housing, children and spouse settlement, career development, research projects, and government awards for high-calibre overseas talents who are willing to work in China.Furthermore, the government will also improve the system for giving permanent residence rights to foreigners, explore the potential of a skilled migration program, and work out measures to ensure a talent supply, discovery and appraisal system.The national plan, a blueprint for creating a highly skilled national work force over the next decade, aims to transform the country from being "labor-rich to talent-intensive."Wang Huiyao, vice chairman of Beijing-based China Western Returned Scholars Association, said, "The measures outlined are very attractive. They've touched upon various concerns of talents from overseas including personal and career needs.""The plan is practical and concrete compared with previous documents," said Wang, who help draft the plan.A program to hire 1,000 overseas top-notch specialists initiated in late 2008 was also incorporated into the new plan as one of the 12 key projects to be completed over the next ten years.By May this year, 662 people have been recruited under the program, which gives priority to leading scientists who are able to make breakthroughs in key technologies, develop high-tech industries and lead new research areas.

TASHKENT, April 24 (Xinhua) -- China is willing to consolidate cooperation with all the other member states of the Shanghai Cooperation Organization (SCO) on safeguarding regional security and promoting collective prosperity, Chinese Public Security Minister Meng Jianzhu said here Friday.Meng, also a Chinese State Councilor, made the remarks at the fifth session of the SCO Security Council Secretaries, which drew interior and public security ministers of SCO member states to prepare for a June summit of the organization in Tashkent.The SCO, a regional security organization founded in 2001, consists of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.Meng said that against the backdrop of complicated global and regional situations, it is important for SCO countries to deepen practical cooperation and safeguard regional stability by further coordinating cooperative mechanisms within the SCO framework.It was also important to seek collaboration and utilize various resources, he said.Meng noted the lingering effects triggered by the global financial crisis on economy and society, as well as the continuing threats from terrorism, extremism and separatism on regional security. He said that SCO members all face the heavy tasks of maintaining national security and social stability.The SCO interior and public security ministers also exchanged views on issues including the fight against Internet terrorism, illegal arms dealing, drug trafficking and protection of gas and oil pipelines.

BEIJING, June 1 (Xinhua) -- China's central bank will push forward yuan settlement in cross-border trade and investment in the western Xinjiang Uygur Autonomous Region, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said Tuesday.Zhou said it was one of PBOC's important moves amid the central government's efforts to achieve leapfrog development and lasting stability in Xinjiang. However, he did not elaborate on the plan nor give a timetable.He said the PBOC would also support the development of small and medium-sized enterprises in Xinjiang.Chinese exporters and importers in five cities -- Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan -- are already allowed to settle cross-border trade deals in yuan.A PBOC report said last month that the country needs to expand yuan cross-border settlement when conditions allow.