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BEIJING, March 15 (Xinhua) -- Chinese Vice Premier Li Keqiang Monday urged the United States to respect China's core interests and major concerns.Li told visiting former U.S. secretary of state Henry Kissinger that he hoped the United States would safeguard the stable growth of China-U.S. ties."The severe disturbance that recently occurred in bilateral relations is not in accordance with the interests of both countries," Li said, refering to Washington's announcement of weapon sales to Taiwan, President Barack Obama's meeting with the ** Lama, and trade disputes between the two countries.A sound China-U.S. relationship was in the fundamental interests of both nations and peoples, and was also conducive to peace, stability and development of the Asia-Pacific region and the world at large, Li said. Chinese Vice Premier Li Keqiang (R) meets with former U.S. Secretary of State Henry Kissinger in Beijing, capital of China, March 15, 2010.He hoped that the United States would work with China to treat bilateral ties from a strategic height and long-term perspective, and to promote ties towards active, comprehensive and cooperative orientation.Li praised the contribution made by the 86-year-old former U.S. diplomat to advancing the China-U.S. cooperation, hoping he would continue his efforts for the growth of bilateral relations.Kissinger said China's major concerns should gain respect.During a speech earlier Monday, Kissinger expressed his optimism for the development of China-U.S. ties despite difficulties.Past frictions between the two countries had always been properly handled, Kissinger said.Also on Monday, Chinese State Councilor Dai Bingguo met with Kissinger.Kissinger served as the top U.S. diplomat during the presidencies of Richard Nixon and Gerald Ford in 1970s. He paid the visit to China at the invitation of the Chinese People's Institute of Foreign Affairs.
BEIJING, Jan. 24 (Xinhua) -- China's central bank asked the nation's lenders to increase loans for rural development as farmers and rural business still had limited access to financing.Banks should issue more microloans to farmers to foster rural industries and urbanization, Liu Shiyu, deputy governor of the People's Bank of China, said at a meeting on rural financing service on Sunday."More efforts should be made to encourage financial institutions to offer rural financing services and participate in rural financial market," he said.Rural credit cooperatives should speed up corporate restructuring and play a leading role in rural financial market, Liu said.He also urged efforts to establish more village banks, microcredit companies and new types of financial institutions.Poor access to fund, as one of the reasons, has long kept China's rural development left behind the urban modernization.The situation has not been significantly improved despite repeated calls by government, as banks are relunctant to lend for lack of collaterals.By the end of September 2009, rural loans increased 29.1 percent year on year to 8.8 trillion yuan (1.29 trillion U.S. dollars), 8.3 percentage points higher than a year earlier

HANGZHOU, Feb. 13 (Xinhua) -- Days before its 4,000 employees, mostly migrants, started off upon their annual trips home for the Chinese Lunar New Year, Tiansheng Group, a textile company in the eastern Zhejiang Province, promised pay rises hoping workers would all come back after the holiday."We are expecting a severe shortage of skilled workers this year," said Wei Guoliang, president of the company's trade union. "We'll be short of at least 1,000 workers in Spring."Lu Laofa (R), a 40-year-old migrant worker from southwest China's Guizhou Province, and his children make a free phone call with their relatives at the railway station of Hangzhou, capital of east China's Zhejiang Province, Jan. 31, 2010Located in Shaoxing County, Asia's biggest textile base, Tiansheng Group relies mostly on migrant workers from Anhui, Henan and Sichuan provinces for production.Fearing it might lose some of its best employees, the company's management offered an average 15-percent pay rise for all workers, plus higher meal allowances and better medical insurance starting on March 1.The offer was printed out and posted at the company's main entrance to catch the workers' attention."We don't know if it will work," said Wei. "But we do hope the workers will come back after the Spring Festival."Two farmer migrant workers who returned home for the Spring Festival take part in a lathe-hand technical training at Juye County, east China's Shandong Province, Feb. 5, 2010.While the Spring Festival falls Sunday, most migrants would stay home for about two weeks for the most important Chinese holiday.For years, migrant workers are the mainstay of labor forces in China's leading manufacturing bases in the Shanghai-centered Yangtze River Delta and the Guangzhou-centered Pearl River Delta.Yiwu City in Zhejiang Province, known for its small commodities including the world's biggest supply of toys and Christmas gifts, is also feeling the pinch of worker scarcity.After a recruitment tour to underdeveloped western provinces of Guizhou, Shaanxi and Yunnan last year, Huang Yunlong, head of the city's labor management bureau, said the situation would be tough for local employers this year.Migrant workers gesture on their chartered flight at the airport in Hangzhou, capital of east China's Zhejiang Province, Feb. 4, 2010In a recent survey in Lishui, a manufacturing town close to Yiwu, 4,000 of the 6,000 migrants who were heading home for the new year said they would stay in their hometowns for jobs or do farmwork after the holiday.Hoping to ease the labor shortage, Red Leaf Umbrella Co. encourages its employees to introduce new workers and offers a 600 yuan cash reward for each new recruit."The worker shortage is a result of the fast economic recovery, as well as the new policies by central and local governments to stimulate growth in the central and western regions," said Zhuo Yongliang, a researcher with Zhejiang Provincial Institute of Development and Reform.Amid the economic recovery, a Yiwu-based restaurant consumes 600 packs of wet tissues a day, as against 400 packs during the international financial crisis last year."The worker shortage, as well as the heavier workload for individual employees, have forced employers to offer better pays and compensation packages -- it's a good thing to this end," said Prof. Wu Jinliang with the Zhejiang Provincial Party School. "But it also eats way the competitive edge of thousands of small businesses that used to rely on cheap labor."Besides the worker scarcity, many entrepreneurs are also worrying about the skills and overall quality of their employees.Zhou Xiaoguang, president of a Yiwu-based decoration firm, remembers the dainty products he saw at an exposition in Europe. "Why can't we produce stuff like that? We can spend heavily to buy better equipment and hire better designers, but we don't have high-caliber workers at our production lines."Langsha Group, China's leading producer of socks and stockings, dropped a procurement plan last year for an Italian-made automatic packing machine that could spare the manual work of 30 workers and improve quality."No one is able to run the machine or fix it if it breaks down," said the group's president Weng Rongdi. "Our lack of training for the workers is a big problem.""Like all other Chinese manufacturing companies, we need high-caliber workers if we want to make further breakthroughs," he said.
BEIJING, Jan. 19 (Xinhua) -- China on Tuesday objected Japan's claim on a tiny atoll in the Pacific Ocean, saying international laws saw no justification for Japan's latest move on the atoll, some 1,700 kilometers south of Tokyo.The Japanese government reportedly submitted a bill to the congress on Monday, which proposes the protection of the coastlines of remote islands, including the so-called Okinotori island.This was widely seen as Japan's latest step to change the Okinotori into an "island", which would imply Japan's rights to claim Okinotori's surrounding area as an exclusive economic zone.But China insisted that Okinotori is merely a rock rather than an island, which can be used to claim an EEZ around."The Okinotori atoll is only about 10 square meters above the sea at the flood-tide and is nothing but a rock according to the United Nations Convention on the Law of the Sea (UNCLS)," Chinese Foreign Ministry spokesman Ma Zhaoxu told a regular press briefing Tuesday in Beijing.Japan's move to claim rights over such a large marine area, centered on the Okinotori atoll, is against international laws and would gravely damage the interests of the international community as a whole, Ma said.According to Article 121 of the UNCLS, rocks that cannot sustain human habitation or an economic life of their own shall have no exclusive economic zone or continental shelf.Japan has been trying to make the atoll a de facto island by a spate of moves in years.Since 1987, Japan has spent some 300 million U.S. dollars in building concrete wall around the Okinotori atoll, and has completed a solar-powered lighthouse on the atoll.Besides, Japan has allocated part of its fiscal 2010 draft budget for infrastructure building on Okinotori atoll to keep it from submerging into the sea."Japan's such actions and claims are obviously untenable in legal terms and other countries have also raised their concerns," Ma said. "The construction of facilities, however, will not change its legal status."Some analysts say Japan tries to create an "artificial island" to meet the international laws because the Okinotori, which lies between Taiwan and Guam in a strategically important position, could win the country an EEZ and rich resources in the surrounding sea area.Japan could claim the EEZ of about 400,000 square kilometers and continental shelf of about 740,000 square kilometers around the Okinotori atoll as long as it proves to be an "island"."The activities Japan has conducted is obviously attempting to build a artificial island, which, however, can not enjoy the same status of a natural island that can claim an EEZ around it," said Zhou Zhonghai, an expert on international laws from the China University of Political Science and Law."Japan is trying to pass a bill at home to challenge the world," Zhou added."Japan's claim has harmed other countries' interests of navigation and marine survey in the sea waters around the Okinotori, and is contrary to the principle of fairness, " said Jin Yongming, a fellow researcher from the Shanghai Academy of Social Sciences.
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.
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