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BEIJING, Oct. 4 (Xinhua) -- China's State Council, or the Cabinet, has decided to further extend a program that involves special funds for infrastructure and other projects in three particularly arid and poor areas in the country's remote northwest.     While extending the program from 2009 to 2015, the government also decided to raise the annual total funding from 200 million yuan (29.2 million U.S. dollars) to 300 million yuan, Xinhua learnt Saturday. Picture taken on Oct. 1 shows workers of a building company transfering building materials in Douping Village, Longnan City in China's Gansu Province. China's State Council, or the Cabinet, has decided to further extend a program that involves special funds for infrastructure and other projects in three particularly arid and poor areas in the country's remote northwestThe three areas are Dingxi and Hexi prefectures in Gansu Province and Xihaigu prefecture in neighboring Ningxia Hui Autonomous Region.     From 1983, the three prefectures were the earliest poverty-stricken regions to carry out the national poverty-relief programs. A dedicated agricultural development subsidy fund was set up to help the three regions build infrastructure and develop agricultural production.     The statement said it was the third time the government had extended the program, which would expire at the end of this year.     Over the past 25 years, poverty-relief efforts had achieved remarkable results. Life in the three areas were significantly improved, a government statement said.     Through 2007, those living under absolute poverty in the counties stood at nearly 1.35 million, in comparison to 7.84 million in 1982. Poverty incidence were down from 62 percent in 1982 to 8.3 percent last year.     In Dingxi and Hexi, the annual net income of local farmers jumped to 2,141 yuan per capita through 2007 from 96.3 yuan per capita in 1982. In Xihaigu, farmers' annual net income jumped to 2,214 yuan per capita in 2007 from 126.6 yuan per capita in 1982.     Poverty-relief programs implemented in the three areas had not only helped push forward anti-poverty efforts in Gansu and Ningxia,but had also been forerunners of the country's development-oriented poverty alleviation drive.     Despite notable achievements, the three areas were still at an early stage of economic development and local farmers income levels were far below the national average, according to the statement.     It was still an arduous task for the country to fundamentally change the three regions poor conditions, so the Cabinet decided to extend the program again and step up supporting efforts, it added.

TOKYO, June 14 (Xinhua) -- Foreign ministers of China, Japan and South Korea agreed here Saturday to strengthen trilateral cooperation for better political, economic and cultural relations.     Chinese Foreign Minister Yang Jiechi, Japanese Foreign Minister Masahiko Komura and South Korean Minister of Foreign Affairs and Trade Yu Myung Hwan reached the agreement at the second trilateral meeting of foreign ministers from the three countries. Chinese Foreign Minister Yang Jiechi (L), Japanese Foreign Minister Masahiko Komura (C) and South Korean foreign and trade minister Yu Myung-Hwan shake hand prior to their meeting in Tokyo, Japan, June 14, 2008.Yang said the meeting was held when the trilateral cooperation is showing bright prospect. "The trilateral cooperation is facing new opportunities and is standing at a threshold," Yang told his counterparts during the meeting held later in the afternoon.     "Further development of the trilateral cooperation is in line with the expectation of the three peoples and is conducive to peaceful development of the three countries and the region," Yang said.     He called for cherishing of the opportunities to actively push forward the trilateral cooperation toward the direction of peaceful coexistence, comprehensive cooperation, mutual benefit and common development.     Yang called on the three sides to keep their respective political promises, improve understanding and trust in each others, expand logistical and financial cooperation as well as social and cultural exchanges and deepen communications on regional cooperation and significant international and local issues so as to further improve the mechanism of trilateral cooperation. Japanese foreign minister Masahiko Komura (C) speaks during a joint press conference with Chinese foreign minister Yang Jiechi(L), South Korean foreign and trade minister Yu Myung-Hwan after the tripartite China-Japan-South Korea Foreign Ministers Meeting in Tokyo, capital of Japan, on June 14, 2008.    The three ministers agreed that the trilateral cooperation is very important for peace, stability and prosperity of Asia. They agreed to carry out new cooperation on disaster relief.     The three ministers agreed to keep regular communications between leaders and foreign ministers of the three countries and scheduled a meeting of heads of government of the three countries in Japan in September.     The three ministers also agreed to strengthen cooperation on promoting peace and stability on the Korean Peninsula, combating climate change, environment protection, food and energy safety, assistance to African development and the United Nations' reform.     Komura and Yu wished the Beijing Olympics a great success.

SARAJEVO, Sept. 12 (Xinhua) -- China and Bosnia pledged on Friday to strengthen cooperation between each other and push their relations to a higher level.     "China cherishes the traditional friendship with Bosnia, hopes to broaden political dialogues at different levels and deepen the exchange and cooperation in such fields as trade and lift the bilateral relations between the two countries to a higher level," visiting Chinese vice Premier Zhang Dejiang said.     Zhang made the comments in his meeting with rotating Chairman Haris Silajdzic of the Presidency of Bosnia and Herzegovina, and Nebojsa Radmanovic, another member of the group made of three members.     "China regards Bosnia as a trust-worthy friend and partner, and we greatly appreciate Bosnia's stance on one-China policy and its support for China's great cause of peaceful unification with Taiwan," Zhang said.     Silajdzic congratulated China on successfully staging the 29th Beijing Olympic Games. He said that the opening ceremony of the games displayed Chinese long history and its splendid culture and it also showed China's desire for a harmonious world. Bosnian Prime Minister Nikola Spiric (R) and Chinese Vice Premier Zhang Dejiang attend a news conference in Sarajevo, on Sept. 12, 2008. Nikola Spiric met with Zhang Dejiang on FridaySilajdzic said Bosnia and China enjoy a good tradition of mutual respect and mutual support. The two countries have a good cooperation in international and regional affairs.     "Bosnia and China have a sound base for furthering good bilateral relations. Bosnia hopes to strengthen the ties in trade and economy between the two, and push the friendly cooperation to a new level," Silajdzic said.     Zhang arrived here on the second leg of his three-nation European tour which has already taken him to Germany, where he attended the third meeting of the China-Europe Forum in Hamburg. Zhang will also visit Macedonia.

BEIJING, Oct. 4 (Xinhua) -- The ongoing global financial turbulence will have a limited impact on China's banks and financial system in the short run, according to officials and experts.     "We feel China's financial system and its banks are, to the chaos developed in the U.S. and other parts of the world, relatively shielded from those problems," said senior economist Louis Kuijs at the World Bank Beijing Office.     He told Xinhua one reason was that Chinese banks were less involved in the highly sophisticated financial transactions and products.     "They were lucky not to be so-called developed, because this (financial crisis) is very much a developed market crisis." Farmers harvest rice in 850 farm in Northeast China's Heilongjiang Province on Sept. 26, 2008.    A few Chinese lenders were subject to losses from investing in foreign assets involved in the Wall Street crisis, but the scope and scale were small and the banks had been prepared for possible risks, Liu Fushou, deputy director of the Banking Supervision Department I of the China Banking Regulatory Commission, told China Central Television (CCTV).     Chinese banks had only invested 3.7 percent of their total wealth in overseas assets that were prone to international tumult, CCTV reported. The ratio of provisions to possible losses had exceeded 110 percent at large, state owned listed lenders, 120 percent at joint stock commercial banks and 200 percent at foreign banks.     Kuijs noted most of the banks resided in China where capital control made it more difficult to move money in and out. Besides, the country's large foreign reserves prevented the financial system from a lack of liquidity, which was troubling the strained international markets.     "At times like this, one cannot rule out anything," he said. "But still we believe the economic development and economic fundamentals in China are such that it's not easy to foresee a significant direct impact on the financial system."     However, he expected an impact on China's banks coming via the country's real economy, as exports, investment and plans of companies would be affected by the troubled world economy and in turn increase pressure on bad loans.     Wang Xiaoguang, a Beijing-based macro-economist, said the growing risks on global markets would render a negative effect on China in the short term but provided an opportunity for the country to fuel its growth more on domestic demand than on external needs.     He urged while China, the world's fastest expanding economy, should be more cautious of fully opening up its capital account, the government should continue its market reforms on the domestic financial industry without being intimidated.     Chinese banks had strengthened the management of their investments in overseas liquid assets and taken a more prudent strategy in foreign currency-denominated investment products since the U.S.-born financial crisis broke out, CCTV reported.

BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.