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BEIJING, March 11 (Xinhua) -- The Bank of China (BOC) plans to issue new Hong Kong-listed H shares, about 20 percent of its current H shares, as soon as possible, said BOC Board Chairman Xiao Gang Thursday.But the BOC had to wait for approvals from shareholders and securities regulators on the mainland and in Hong Kong, Xiao said.The BOC, China's third largest bank by market value, in January declared it would sell no more than 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The BOC currently had no acquisition plans in China or overseas, Xiao said.The biggest credit risks lied in the local governments' financing units and the BOC was tightening loans to these units, he said.

BEIJING, Feb. 22 (Xinhua) -- China's National Bureau of Corruption Prevention said in a circular posted on its website Monday that it would explore ways to fight corruption in non-public commercial entities and "new social organizations" in 2010."New social organizations" refer to intermediaries, non-governmental organizations and private non-business groups. Statistics from the Ministry of Civil Affairs showed there are around 400,000 such organizations in China.Industry associations will also be monitored for corruption, according to the circular, which highlighted the bureau's work in 2010.The bureau promised that it would earnestly exchange and cooperate with the international community in the anti-corruption efforts.It said that authorities would continue working to prevent officials using public money to travel overseas and they would work on the implementation of regulations for supervising officials whose spouses and children have emigrated abroad.It also pledged to improve transparency of government affairs as well as factory and village management's dealing of local affairs.According to an survey carried out by People's Daily Online, corruption has remained one of the top three concerns of Chinese netizens since the survey was initiated in 2006.Chinese authorities' latest move in the fight against corruption took place on Saturday as the State Council issued a revised regulation on the implementation of the Audit Law, which aims at tightening supervision of areas highly prone to corruption, including the construction industry.

BEIJING, March 16 (Xinhua) -- The Chinese market has more potential for U.S. exports, especially high-tech products, as only 6.7 percent of overall U.S. exports went to China, said Ministry of Commerce (MOC) spokesman Yao Jian Tuesday.The two countries were each other's second biggest trade partners, and China was willing to strengthen economic and trade cooperation with the United States to promote more balanced Sino-U.S. trade, Yao said at a press conference in Beijing.This aim could be reached if the United States reduced restrictions on exports of high-tech commodities to China, said Yao.Just 7 percent of China's high-tech imports come from the U.S., down from 18 percent in 2003.China's imports grew faster than exports in the first two months this year. Imports grew 63.6 percent compared to a 31.4-percent growth in exports, figures from the General Administration of Customs show.Yao said the ministry would make efforts to increase imports this year by relaxing import controls, hosting trade exhibitions, and providing free exhibition space for the least-developed nations.Zero tariffs would be offered to some under-developed countries or regions to boost bilateral trade.The MOC would also continue sending Chinese procurement teams to foreign countries this year to raise imports, Yao said.

BEIJING, March 5 (Xinhua) -- China expects its economy to grow around 8 percent in 2010 from a year earlier, says a report delivered by Premier Wen Jiabao at the annual parliament session Friday.Setting the 8-percent target mainly "aims at ensuring the quality of economic growth, focusing on transformation of economic growth pattern and adjustment of economic structure," says the report submitted to the National People's Congress (NPC), the country's top legislature.The increase of consumer price index, a main gauge of inflation, will be held around 3 percent, says the report.Although the development environment this year may be better than 2009, China "will still face a complicated situation," reads the report. Chinese Premier Wen Jiabao delivers a government work report during the opening meeting of the Third Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 5, 2010The year of 2010 will be a "crucial but complicated" year for China's economic development as the country will continue fighting against the global financial crisis while maintaining a stable and comparatively fast economic growth and accelerating transformation of growth pattern, according to the report.Peter Trebitsch, a reporter from Hungarian News Agency Corporation, said he is sure that China will hit the growth target."If China sets 8-percent, it will be," Trebitsch said.He noticed that instead of only focusing on expansion, China is giving more attention to quality of growth.He noted, however, the key of economic development pattern transformation lies in implementation of policies in lower level governments."China is going to depend more and more on its own market, thus it has to take care of its people and domestic economy," said Trebitsch."Considering the circumstances that many countries are still suffering considerably, the target of 8 percent growth can leave room for Chinese people to improve their living standards," said Francois Jackman, counselor with Embassy of Barbados in China.As the first country emerging from the global economic downturn, China's gross domestic product (GDP) rose 8.7 percent in 2009 from a year earlier, above the 8-percent target the government set at the beginning of last year.China's quarterly economic growth accelerated as the government's economic stimulus package started to pay off. The national economy rose 6.2 percent in the first quarter last year, 7.9 percent in the second quarter, 9.1 percent in the third and 10.7 percent in the fourth.

BEIJING, Feb. 7 (Xinhua) -- China and Russia would strengthen coordination to better implement the regional cooperation program approved by state leaders last year, officials from the two countries said here on Sunday.The statement was made by Zhang Guobao, head of the National Energy Administration and vice minister of the National Development and Reform Commission, and representatives of the Russian government, at the China-Russian regional cooperation symposium.In September 2009, Chinese President Hu Jintao and his Russian counterpart Dmitry Medvedev approved the cooperation program between northeast China and Russia's far east and east Siberian region.Zhang said the cooperation program, covering many fields, included more than 300 key projects in local cooperation and infrastructure construction and transformation.The symposium is the first bilateral meeting aimed at promoting China-Russian regional cooperation since the approval of the cooperation program.