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HUA HIN, Thailand, Oct. 24 (Xinhua) -- Chinese Premier Wen Jiabao and his Australian counterpart Kevin Rudd called here on Saturday for an early signing of the Free Trade Agreement (FTA) between the two Asia-Pacific major economies. "The mutual-respect, mutual-trust and cooperation between China and Australia, both as big countries in the Asia-Pacific region, will not only yield tangible benefits for the two nations, but also have a positive impact on a larger scale," Wen said in talks with Rudd on the sidelines of the Association of Southeast Asian Nations (ASEAN) summits. The key to maintaining a sound and steady development of bilateral ties lies in their respect for and care about each other's core interests and major concerns, Wen said, pledging to work together with Australia to boost their ties. Chinese Premier Wen Jiabao meet with his Australian counterpart Kevin Rudd in Hua Hin, Thailand, on Oct. 24, 2009 The Chinese premier also highlighted the importance of an FTA between the two countries, asking the two sides to reach a quality, comprehensive and acceptable FTA deal in a spirit of positive cooperation, pragmatism, balance and mutual-benefit. While hailing the cooperation between Australia and China in various fields, Rudd said his country is willing to maintain high-level exchanges and deepen mutual understanding with China under the principle of mutual respect, equality and mutual benefit. He pledged adherence to the one China policy and respect for China's sovereignty and territorial integrity. Australia hopes to reach consensus as early as possible on the FTA and will bolster cooperation with China in such fields as trade, economy, investment, energy, agriculture and service, Rudd said during their meeting at a hotel in the central Thailand beach resort. The two leaders also exchanged their views on East Asian cooperation and climate change.
NANTONG, Dec. 13 (Xinhua) -- The first Sino-American Dialogue on Rule of Law and Human Rights ended Sunday in Nantong, a city in east China's Jiangsu Province. The two-day symposium was jointly organized by the China Foundation for Human Rights Development (CFHRD) and National Committee on United States-China Relations (NCUSCR) of the United States. Representatives from China and the United States exchanged views on topics of government transparency, pretrial detention, labor disputes and lawyers' role. Prof. Jerome Cohen of the New York University School of Law said the symposium was "a good exchange" and the U.S. delegation learned more about China. "We talked about some sensitive issues with people we didn't know before. This is a big good start," Cohen told Xinhua. "The dialogue is a sign of increasing exchanges between non-governmental organizations," Huang Mengfu, vice chairman of the National Committee of the Chinese People's Political Consultative Conference and CFHRD chairman, addressed the opening ceremony on Saturday. The symposium attracted more than 30 Chinese and U.S. law professionals and scholars.
HANGZHOU, Oct. 29 (Xinhua) -- China and the United States said Thursday they would not stage any new trade protection measures against each other, a significant step which lays the groundwork for the presidential summit next month. "Both sides agreed on not introducing any new trade protection measures against each other as both vowed to oppose trade and investment protectionism and observe the related consensus of the G20 summit," Chinese Commerce Minister Chen Deming said later Thursday. Delegates attending the 20th China-US Joint Commission on Commerce and Trade (JCCT) pose for a group photo in Hangzhou, capital of east China's Zhejiang Province, Oct. 29, 2009. China and the United States on Thursday started their annual trade talks in Hangzhou. Chinese Vice Premier Wang Qishan co-chaired the meeting with Commerce Secretary Gary Locke and Trade Representative Ron Kirk of the United States. The JCCT began in 1983 as a platform for both countries to promote trade and address issues of mutual concernChen made the remarks at the end of the 20th China-U.S. Joint Commission on Commerce and Trade (JCCT) talks in China's eastern city of Hangzhou. The comments also came at a time of increasing China-U.S. trade disputes in the past months, involving Chinese tires, cement products, U.S. poultry and others. "The pledge is significant as it shows both countries' determination to dump punitive measures against each other and instead seek common prosperity," Niu Xinchun, a research fellow with China Contemporary International Studies Institute, told Xinhua. "As influential powers, China and the United States should stand firmly against all types of trade protectionism, promote both countries' economies and help lift the world out of recession," Chinese Vice Premier Wang Qishan told the opening session of the JCCT Thursday noon. Wang co-chaired the 20th JCCT talks with U.S. Commerce Secretary Gary Locke and U.S. Trade Representative Ron Kirk in a lakeside garden compound in the capital of east China's Zhejiang province. Locke highlighted the significance of this year's talks, saying it is the first JCCT meeting of President Obama's administration and comes a few weeks ahead of President Obama's first visit to China. Wang said President Obama's visit in mid November will "provide new opportunities for China-U.S. cooperation." "In a spirit of candor and understanding, hopefully both sides will discuss issues of mutual concern and achieve fruitful results at today's JCCT meeting," Wang said. "It is critical that we make definite, concrete, demonstrable progress today to demonstrate that U.S. and China can work together to achieve results from the JCCT," Locke said. Later Thursday, the U.S. commerce chief lauded the one-day JCCT talks as "successful," as both sides "made very significant progress on a number of issues." Locke said China will drop a requirement that most of the components of wind power-related equipment be made in China. "The United States agreed to delete some articles in its bill which limited China's poultry exports for six years," Chinese Minister of Agriculture Sun Zhengcai said in response to a Xinhua's question. In return, China will resume imports of pork products from the A/H1N1 flu-hit areas in the United States, Sun said. As for trade imbalance, China's commerce chief said both sides agreed at the JCCT talks that the solution was not to limit China's exports to the United States, but strike a balance by aggressively boosting bilateral trade.
SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company. The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai. The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company. The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects. Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies." The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company. The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent. Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.
BEIJING, Nov. 26 (Xinhua) -- China has tightened settlement and sale of foreign exchange by individuals to curb non-normal cross-border capital inflow, according to a statement of the State Administration of Foreign Exchange (SAFE). Banks should deny, review or report to foreign exchange regulators, individual purchases or settlements of foreign exchange suspicious of splitting up one deal into several smaller ones to dodge limits on the size of exchange transfer by one person, which is understood to be one of the channels for hot money inflow, said the statement on Wednesday. Practices including one overseas individual or institution remitting foreign exchange to five or more individuals within China who settle them respectively, or five or more individuals buying foreign exchange and remitting them to one and the same overseas individual or institution, on a single day, every other day or consecutive days, are considered exchange splitting behavior, said the SAFE. China in 2007 set the limit of up to 50,000 U.S. dollars per year for an individual to exchange between yuan and foreign exchange.