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GUANGZHOU, July 5 (Xinhua) -- Chinese Vice President Xi Jinping has praised Guangdong's pioneer role in the 30-year reform and opening drive and urged the south China province to continue promote cooperation with Hong Kong and Macao special administrative regions (SARs).     Guangdong played the role as a window, laboratory and pioneer in the construction and development of socialism with Chinese characteristics, said Xi during a study tour of the south China province on July 4 and 5.     Xi, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited towns, enterprises, communities, ports and research institutions, with Guangdong Party chief Wang Yang and governor Huang Huahua.     Xi hailed Guangdong's economic and social development, highlighting the fact that only socialism could save China, only the reforms and opening up to the outside world could develop China, socialism and Marxism. Chinese Vice President Xi Jinping (L Front) talks with a worker at Weiming company in Shenzhen, south China's Guangdong Province, July 5, 2008He paid special attention to the issue of Guangdong's cooperation with Hong Kong and Macao.     With some Hong Kong-funded companies suffering from the decrease of overseas consumer demand and price hikes of oil and raw materials, Xi asked local officials to give assistance.     Greater Guangdong-Hong Kong-Macao cooperation and the development of the SARs' economies were of great significance for maintaining a long-term prosperity and stability in Hong Kong and Macao, and the success of the "One Country, Two Systems" policy, and eventually achieving national reunification, he said.     Xi urged Guangdong to open up to cooperation with Hong Kong and Macao, by strictly following the "One Country, Two Systems" policy and the basic laws of the two SARs.     Xi called for implementation of instructions by President Hu Jintao on the development of the Party.     China must adopt the concept of scientific, coordinated and harmonious development, said Xi.

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, Sept. 21 (Xinhua) -- China would deepen economic and trade cooperation and step up strategic and mutually beneficial relations with Japan, Chinese President Hu Jintao said on Sunday.     "China hopes the two sides would work together to enhance economic and trade cooperation, aiming at realizing mutual benefit and development," Hu told members of a delegation from the Japan-China Association on Economy and Trade (JCAET).     JCAET honorary president Fujio Mitarai and president Fujio Cho congratulated China on the success of the Olympics and Paralympic Games, and expressed willingness to push forward bilateral ties.     Hu expressed gratitude for Japanese aid after the Sichuan earthquake and for supporting the Beijing Olympics and Paralympics, praising the JCAET for "important contributions to the improvement and development of bilateral ties". Chinese President Hu Jintao (R) meets with Fujio Mitarai (2nd L), honorary president of the Japan-China Association on Economy and Trade (JCAET), and Fujio Cho (1st L), president of JCAET, at the Great Hall of the People in Beijing, capital of China    "China would work with Japan to enhance strategic trust, mutual contact and coordination in regional and international affairs, in accordance with the two countries' four political documents," Hu said.     "China is willing to handle sensitive affairs appropriately together with Japan," he added.     JCAET was established in 1972 to promote economic exchanges between the two countries

BEIJING, Aug. 15 (Xinhua) -- Chinese Vice Premier Li Keqiang met here Friday with Thai Deputy Prime Minister Sanan Kachornprasart, vowing to deepen strategic cooperation between the two nations.     China and Thailand are good neighbors with comprehensive common interests, Li said, noting that the two nations enjoy high-level political mutual trust, increasing cooperation in various fields and close coordination in international and regional affairs.     Expressing appreciation for Thailand to value the relations with China, Li said China regards Thailand as close friend and creditable partner, and is ready to work with Thailand to achieve win-win development and to benefit the two peoples. Chinese Vice Premier Li Keqiang meets with Thai Deputy Prime Minister Sanan Kachornprasart at Great Hall of the People in Beijing, Aug. 15, 2008    Sanan spoke highly of the present situation of Thailand-China relations, saying that Thailand will make efforts to push forward the relations with China.     Sanan was here on a visit to China for the Beijing Olympic Games.

GUANGZHOU, July 5 (Xinhua) -- Chinese Vice President Xi Jinping has praised Guangdong's pioneer role in the 30-year reform and opening drive and urged the south China province to continue promote cooperation with Hong Kong and Macao special administrative regions (SARs).     Guangdong played the role as a window, laboratory and pioneer in the construction and development of socialism with Chinese characteristics, said Xi during a study tour of the south China province on July 4 and 5.     Xi, a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, visited towns, enterprises, communities, ports and research institutions, with Guangdong Party chief Wang Yang and governor Huang Huahua.     Xi hailed Guangdong's economic and social development, highlighting the fact that only socialism could save China, only the reforms and opening up to the outside world could develop China, socialism and Marxism. Chinese Vice President Xi Jinping (L Front) talks with a worker at Weiming company in Shenzhen, south China's Guangdong Province, July 5, 2008He paid special attention to the issue of Guangdong's cooperation with Hong Kong and Macao.     With some Hong Kong-funded companies suffering from the decrease of overseas consumer demand and price hikes of oil and raw materials, Xi asked local officials to give assistance.     Greater Guangdong-Hong Kong-Macao cooperation and the development of the SARs' economies were of great significance for maintaining a long-term prosperity and stability in Hong Kong and Macao, and the success of the "One Country, Two Systems" policy, and eventually achieving national reunification, he said.     Xi urged Guangdong to open up to cooperation with Hong Kong and Macao, by strictly following the "One Country, Two Systems" policy and the basic laws of the two SARs.     Xi called for implementation of instructions by President Hu Jintao on the development of the Party.     China must adopt the concept of scientific, coordinated and harmonious development, said Xi.