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BANDAR SERI BEGAWAN, Jan. 25 (Xinhua) -- Brunei Sultan Hassanal Bolkiah met with visiting Chinese State Councilor Dai Bingguo here on Monday.During the meeting, Hassanal said that Brunei and China enjoyed long-run friendly exchanges and the Brunei-China relationship developed smoothly since the two countries established the diplomatic ties nearly 20 years ago.Hassanal said that cooperation between Brunei and China in various fields were also fruitful since then and he was delighted that he had cemented friendship with Chinese leaders.The Brunei royal family and the government attached great importance to developing close and friendly ties with China, and Brunei will continue to stick to the One China policy and strengthen cooperation in economic and trade and energy with China, he said.Hassanal expressed thanks for China's assistance in helping Brunei develop technologies for paddy production and expected more achievements in this field.Dai said that China and Brunei are traditional good neighbors and the two countries have extensive common interests and broad space for cooperation.The bilateral relations developed swiftly since the two countries established the diplomatic ties in 1991, Dai said.Dai noted that China is willing to further its friendly exchanges with Brunei, based on the principles of mutual respect, equality and mutual benefit.China is willing to support and participate in Brunei's strategies to diversify its economy and encourage China's enterprises to invest in Brunei and expand cooperation in economic and trade, energy and agriculture, etc.On Monday, Dai also met with Brunei Foreign and Trade Minister Mohamed Bolkiah and Second Foreign and Trade Minister Lim Jock Seng.Dai arrived here on Sunday on an official visit to the sultanate.

NANJING, Feb. 9 (Xinhua)-- China and Japan have the opportunity to further develop their relationship through cooperation in a wide range of areas, an advisory panel on China-Japan relations said here Tuesday."Bilateral ties have an opportunity to develop as the two governments attach great importance to bilateral ties and are committed to long-term, stable, friendly, and cooperative relations," the fifth 21st Century Committee for China-Japan Friendship said after their first meeting.The committee, an advisory panel to both nations' governments, convened a three-day meeting in China beginning Sunday to discuss various aspects of China-Japan relations and to provide suggestions to the two governments."Members have discussed bilateral cooperation from a strategic point of view and have reached a fruitful outcome," the Chinese chair of the panel, Tang Jiaxuan, said.The committee agreed China and Japan should aim for cooperation in the post-financial crisis world and step up partnership in environmental protection and low-carbon business. Chinese members proposed building a recycling economic zone in Caofeidian, in north China's Hebei province.Telecommunications, bio-medicine, new materials and clean-fuel vehicles are also fields in which the two sides can work together.Another field for cooperation is culture, the panel said, stressing the importance of exchanges between media professionals and intellectuals in the two countries.Chinese members hoped visa procedures to enter Japan will be further simplified, young writers will have more opportunity for exchange, and that an arts festival on Buddhism is established.The committee suggested cooperation in Asian integration, including the building of a financial security network and speeding up research on the setting up of a free trade zone covering China, Japan, and the Republic of Korea."Japan is willing to work with China to strengthen mutual cooperation in various fields and improve understanding between peoples of the two countries," said chair of the Japanese side, Tokyo Stock Exchange (TSE) president Taizo Nishimuro

BEIJING, Feb. 3 (Xinhua) -- Chinese economists are again concerned about the value of the country's dollar-denominated assets after the U.S. government's budget plan unveiled Monday forecast a record deficit for 2010.The economists are worried that, if the Congress approved the budget plan, the U.S. federal government will issue more bonds and print more money to finance the deficit, which may prompt dollar depreciation. Dollar depreciation erodes the value of China's holdings of dollar-denominated assets.The same fears took hold almost one year ago when the U.S. government said it would issue up to 2.56 trillion U.S. dollars of treasury bond debt to stimulate the economy to get through the recession.This time the budget deficit is larger. The Obama administration on Monday proposed a budget of 3.83 trillion U.S. dollars for fiscal year 2011 with a forecast deficit of 1.56 trillion U.S. dollars in 2010.The planned fiscal deficit is 10.6 percent of gross domestic product (GDP) - up from a 9.9 percent share in 2009 - the largest deficit as measured against GDP since the second world war.He Maochun, director of the Center for Economic Diplomacy Studies at Tsinghua University, said the deficit would be financed by those holding U.S. dollar-denominated assets with the main channel to transfer the risks caused by the deficit being the issuance of U.S. treasury bonds.The U.S. is already in enormous debt, with Treasury data showing public debt topping 12 trillion U.S. dollars in November last year, the highest ever.To pay for the deficit, the U.S. federal government will borrow 392 billion dollars in the January to March quarter of 2010, according to a Treasury Department statement released Monday. It will then issue 268 billion U.S. dollars of treasury bonds in the second quarter.Experts said the record deficit suggests the federal reserve will continue to flood more money into the market. The massive issuance of treasury bonds, the large fiscal deficit and the printing of the dollar will prompt further declines in the value of dollar, they said.In 2009, the greenback depreciated against major currencies by 8.5 percent, according to China's State Administration of Foreign Exchange (SAFE).China is the biggest foreign holder of the U.S. government debt. As of the end of November last year, China held 789.6 billion U.S. dollars of U.S. treasury bonds. Moreover, more than 60 percent of China's 2.399 trillion U.S. dollar stockpile of foreign exchange reserves - the world's largest - is in dollars.Cao Honghui, director of the Financial Market Research Office of the Chinese Academy of Social Sciences (CASS), a government think tank, said the massive U.S. deficit spending and near-zero interest rates would erode the value of U.S. bonds.The U.S. government should not transfer the problems of enormous debt to other nations or regions that are creditors like China, he added.The SAFE said in a statement in December 2009 that China would diversify its foreign exchange reserve holdings - both currencies and securities - to reduce risk.Liu Yuhui, an economist with the CASS, said late last month China may scale back its purchases of U.S. debt on concern the dollar will decline.China trimmed its holdings of U.S. government debt by 9.3 billion U.S. dollars in November last year - the biggest cut in five months - taking them down to 789.6 billion U.S. dollars.Ding Zhijie, associate dean at the finance school at the University of International Business and Economics, said China had been securing its investment value by using its foreign exchange reserves for imports and acquisition in 2009."More reserves should be used for investment in materials and resources, which can reduce the risk," he said, adding that he expects the purchasing spree to continue this year.The deficit is expected to ease slightly to 1.3 trillion U.S. dollars in 2011, but that still represents 8.3 percent of 2011 GDP.But Ding said it is necessary for the U.S. to keep its powerful fiscal stimulus policy in place, as the economic recovery is fragile and remains uncertain.The U.S. economy shrank 2.4 percent in 2009, but the U.S. government is projecting GDP growth of 2.7 percent in 2010 and an unemployment rate average of 10 percent.Zuo Xiaolei, chief economist at China Galaxy Securities, said the U.S. had no choice but to rely on massive government spending to ensure the economic recovery.The budget deficit will pump money into the economy and generate jobs, which in turn will generate greater tax revenue that can help pay off the debt, Zuo said."But there is still a risk the policy will fail and that debt will grow beyond the government's ability to pay," in which case the entire global recovery will be threatened.

BEIJING, March 8 (Xinhua) -- China will provide speedy visa processing for visitors to the upcoming World Expo, as well as more hotel space with help from surrounding cities, according to an organizer of the event.With support from the Foreign Ministry, it is already "an established policy" to provide quick visa processing for Expo visitors from around the world, said Zhou Hanmin, deputy director of the Shanghai 2010 World Expo Executive Committee, speaking here on Monday.He made the remarks at a press conference on the sidelines of the annual session of the National Committee of the Chinese People's Political Consultative Conference, the country's top advisory body. Zhou Hanmin, member of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), speaks during a news conference held by the Third Session of the 11th National Committee of the CPPCC on the 2010 Shanghai World Expo in Beijing, capital of China, March 8, 2010To receive the coming waves of visitors, a total of 550,000 beds will be available inside Shanghai during the Expo, and visitors can stay in nearby cities if Shanghai cannot hold all of them, said Zhou.To further assist, efforts have been made to provide easy transportation between Shanghai and its surrounding cities, he said.World Expo 2010, which is scheduled to be held in Shanghai from May 1 to October 31, is expected to attract 70 million visitors, of which more than 5 percent will come from abroad, according to Zhou.

BEIJING, Jan. 22 (Xinhua) -- China was willing to work with Liberia to expand cooperation and promote bilateral ties, said Chinese Vice Premier Li Keqiang on Friday."We should work together to tap potentials for our cooperation," Li said when meeting with Liberian Minister of Foreign Affairs and Chief Minister of Cabinet Olubanke King Akerele.Hailing the relations between China and Liberia, Li also discussed China-Africa ties with the minister, saying that the Chinese government attached great importance to the solidarity and cooperation with African nations."We will make full coordinations with Liberia and other African nations to fulfill the fruits of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC)." Chinese Vice Premier Li Keqiang (R) meets with Minister of Forieign Affairs of Liberia Olubanke King Akerele in Beijing, China, on Jan. 22, 2010.At the meeting held in Egypt in November 2009, Chinese Premier Wen Jiabao announced eight new measures to strengthen pragmatic cooperation in the next three years.The eight measures include the fight against climate change, intensification of technical-scientific cooperation, reinforcement of African financial capacities and increased access of African products to the Chinese market."We should take follow-up actions in an orderly way and push forward the new type of China-Africa strategic partnership," Li told the Liberian minister.This would help deepen China-Africa friendship and benefit the African people, he noted.Akerele was here on a visit at the invitation of her counterpart Yang Jiechi. The two ministers had talks earlier Friday.Yang said since China and Liberia resumed diplomatic ties in 2003, the two countries had maintained political mutual trust, fruitful economic cooperation and close cultural exchanges.Yang appreciated Liberia's adherence to the one-China policy and its support for China on the Taiwan and Tibet-related issues."China is ready to make joint efforts with Liberia to maintain high-level exchanges, deepen economic cooperation and expand cultural exchanges, in a bid to achieve greater development of bilateral relations," Yang said.Akerele applauded China's great support and assistance to Liberia, saying her government valued the friendly cooperative ties with China.Liberia welcomed more Chinese business to make investment there, and was willing to expand cooperation with China in various sectors, she said.Liberia would also work with China to strengthen communication and coordination on the international and regional issues, such as climate change and reform of the UN Security Council, she noted.Akerele also spoke highly of China's active and comprehensive fulfillment of the FOCAC fruits, saying that her country would work with China to advance the Liberia-China cooperation and the Africa-China cooperation within the FOCAC framework.Shortly after the end of the Liberian civil war in late 2003, the West African nation reestablish diplomatic ties with China. China joined the peacekeeping mission in Liberia in December 2003 under a resolution of the UN Security Council.