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TASHKENT, June 28 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang said on Sunday that China is willing to expand cooperation with Uzbekistan on wide-ranging issues while meeting with Uzbek President Islam Karimov. "Uzbekistan, as a country with important influence in central Asia, plays a major role in regional affairs, and developing a friendly partnership with Uzbekistan is one of the priorities of China's foreign policy," said Li. "China is willing to work together with Uzbekistan to constantly solidify the friendship and political trust between the two countries, make efforts to expand pragmatic bilateral cooperation in all fields, and increase exchanges in culture, education, health and sports," he added. Chinese Vice Premier Li Keqiang (R) meets with Uzbekistan's President Islam Karimov in Tashkent June 28, 2009. China also aims to enhance coordination and cooperation with Uzbekistan within multi-lateral frameworks like the United Nations and the Shanghai Cooperation Organization, said the Chinese official. Li said China is thankful to Uzbekistan for its support on issues that were deemed critical to China's core interests and on other major issues and promised China will continue to support Uzbekistan for its efforts to defend national independence and sovereignty, develop its economy and safeguard its national security and stability. On the global financial crisis, Li pointed out China has taken appropriate fiscal and monetary measures to spur economic growth and the Chinese economy is stabilizing. He noted bilateral trade between China and Uzbekistan is still growing rapidly despite the financial crisis and suggested the two sides increase exchanges on government policies to help each other deal with the crisis. Top leaders and senior officials of China and Uzbekistan have met on a regular basis in recent years. Chinese Vice Premier Li Keqiang (2nd R Front), accompanied by Uzbekistan's Deputy Prime Minister Ergash Shaismatov (1st R Front), visits Chkalov plane manufactory in Tashkent June 28, 2009. Chinese President Hu Jintao met with Karimov at the sidelines of the Shanghai Cooperation Organization summit held in the Russian city of Yekaterinburg earlier this month. The two also met during the 2008 Summer Olympic Games in Beijing. Meanwhile, Chinese Premier Wen Jiabao paid his first official visit to Uzbekistan in November 2007 after attending a meeting of the prime ministers of the Shanghai Cooperation Organization countries held in the Uzbek capital Tashkent. Karimov said he treated Li's visit to his country is another example of the close relations between the leaders of the two countries. He said Uzbekistan values its relationship with China, admires China for its development. He also expressed deep thanks to China for its longtime support and help. The Uzbek president then outlined new areas for further cooperation between Uzbekistan and China. "Uzbekistan and China have made major progress on bilateral economic and trade cooperation, but there is much potential for further developing and deepening that cooperation," he said. He suggested the two countries explore new ways of cooperation, map out a medium and long-term framework for cooperation and enhance bilateral economic and trade cooperation in an all-around way through effective mechanism and joint projects of strategic importance. He said Uzbekistan will continue to support China's position on issues related to Taiwan, Tibet and human rights and will work together with China to promote regional peace and stability. Li arrived in Tashkent on Saturday for a three-day official visit to Uzbekistan. Uzbekistan is the last leg of his three-nation foreign tour which has already taken him to Turkmenistan and Finland. Chinese Vice Premier Li Keqiang (1st R) meets with Uzbekistan's President Islam Karimov (1st L) in Tashkent June 28, 2009
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.
BEIJING, June 2 (Xinhua) -- China's national college entrance exam saw a decrease in candidates for the first time in the past seven years, said the Ministry of Education Tuesday. About 10.2 million people registered to attend the upcoming exam, down 3.8 percent year on year, according to the ministry. In contrast, candidates for the exam saw a continuous increase from 2002 to 2008, jumping from 5.27 million in 2002 to 10.5 million in 2008. This year's examinees would have more opportunities to enter colleges as they would compete for 6.29 million seats in China's universities and colleges, up four percent from last year, the ministry's figure showed. About half of the country's provinces and regions earlier reported a decrease in candidate number. Some media reports came to the conclusion that greater employment pressure caused by the international economic downturn led to the drop. "I don't agree with this view," said Jiang Gang, deputy director of the ministry's college students office. "The drop of candidate number is mainly due to the decline of senior high school graduates," he said. Jiang, however, admitted the financial crisis did inflict great pressure the country's job market. In China, most of the candidates for higher education are students finishing three-year study in senior high schools. Figures from the National Bureau of Statistics showed the number of senior high school graduates decreased from 8.49 million last year to 8.34 million this year. It is estimated to be 8.03 million in 2010. College graduates are having a hard time finding jobs this year as posts are being axed due to the economic slowdown. China has 6.11 million college students due to graduate this year, and one million from last year are still looking for jobs, according to the Ministry of Human Resources and Social Security. Known as "gao kao" in Chinese, the national college entrance exam, which falls on June 7 to 9 each year, is the largest examination in the world. The exam can change the candidates' lives in a fiercely competitive society.
BEIJING, June 27 (Xinhua) -- China always opposes trade protectionism and will not take protectionist actions against overseas companies or foreign goods, Minister of Commerce Chen Deming said here Friday. He made the remarks when he met the Minister of Knowledge Economy of the Republic of Korea (ROK), Lee Youn Ho. Chen said that media reports were incorrect when they equated China's latest circular to boost domestic demand and step up supervision on construction projects with protectionism. Chen said in China's government procurement, the term "domestic products" also include products produced by legally established foreign-funded companies in China. "China applied to join the World Trade Organization's agreement on government procurement a couple of years ago, which allowed member countries to bid on each other's government tenders." Chen said. "We hope China might join the agreement soon so as to further open up the government procurement market," he said. "China would like to maintain stable development in economic and trade cooperation with the ROK," Chen said. Lee said that China's trade policies were fair and transparent, and his country would like to work with China to oppose trade protectionism.
BEIJING, June 28 (Xinhua) -- Chinese President Hu Jintao has called for more confidence in the country's stable economic growth and gaining more strength to better people's livelihood. He made the calls during an inspection tour in northeastern China's Heilongjiang Province from June 26 to 28, one of the country's old industrial bases and important granaries. Hu encouraged people in Heilongjiang to seize the opportunity as China moved to revitalize its old industrial bases, to overcome the difficulties and maintain a steady economic growth and ensure people's livelihood. Chinese President Hu Jintao (C) talks with residents at Dongsheng Village in Wuliming Town of Zhaodong City, northeast China's Heilongjiang Province. President Hu Jintao made an inspection tour in Heilongjiang Province on June 26-28, 2009. During his three-day inspection tour, Hu visited Harbin Measuring and Cutting Tool Group and Harbin Aircraft Industry Group, two of the province's major industrial enterprises, and pointed out that independent innovations are key to high competitiveness and further development. "Crisis creates opportunities, and we shall put more efforts in technological upgrading, and build up technology reserves for the future," he said. Hu also visited rural areas and inspected crop growth. He encouraged farmers to increase grain production and boost agricultural modernization, so as to ensure the country's grain security. More supportive policies for farmers are on the way, he said, hoping that farmers could increase their incomes with improved policies and technologies. Hu also visited an oil field, a military camp, a school for intellectually challenged children, a human resources market, and a residential community which houses people who formerly lived in shanties.