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HANOI, Oct. 28 (Xinhua) -- Chinese Premier Wen Jiabao on Thursday met separately with the prime ministers of Vietnam, Cambodia and Laos in Hanoi ahead of a series of summits between the Association of Southeast Asian Nations (ASEAN) and its partners.At the meeting with Vietnamese Prime Minister Nguyen Tan Dung, Wen hailed Vietnam's preparation for the upcoming meetings, saying that China would join with Vietnam to ensure the success of the meetings at a time of profound changes going on in the international situation.Wen called for proper handling of the issue of South China Sea, saying it is of vital importance to the sound and stable development of China-Vietnam relations.He noted that China and Vietnam have established a negotiation mechanism to solve the issue, and he hoped the two countries would discuss and sign an agreement on basic principles guiding the solution to the issues of the sea as early as possible.Dung agreed with Wen's remarks.Expressing the high importance China placed on the summits, Wen said China would strengthen communication and coordination with Vietnam and work with all sides concerned to push forward East Asian cooperation.Wen said friendship and cooperation have remained the mainstream of China-Vietnam relations since the establishment of the bilateral diplomatic ties 60 years ago. He said sound and stable development of the relationship is of vital importance to both sides and the region.The premier vowed that China would maintain high-level contacts with Vietnam, establish a hotline between leaders of the two countries, and strengthen consultation between all departments to enhance their mutual trust, deal with disputes appropriately and promote common interest.

BEIJING, Aug. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang has stressed the development of the service industry as part of the government's efforts to promote economic restructuring and to accelerate the transformation of its economic development pattern.Li made his remarks at a meeting focusing on the development and reform of the service industry sponsored by the National Development and Reform Commission (NDRC) on Thursday.The service industry is not only conducive to expanding job opportunities, but also has a low cost of resources, Li said.He further called on local authorities to be innovative in using their regulatory systems to shore up the development of the service industry.Representatives from Shanghai, and provinces of Liaoning, Jiangsu, Hubei and Sichuan explained their experiences in creating service industries.

BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

ATHENS, Oct. 2 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Saturday, kicking off his three-day official visit to Greece.The Greece visit, the first stop of Wen's four-nation Europe tour, is the first by a Chinese premier in 24 years.During his stay, Premier Wen is due to meet Greek President Karolos Papoulias and Parliament Speaker Philippos Petsalnikos and hold talks with Greek Prime Minister George Papandreou before witnessing the signing of a series of deals. Wen will also deliver a speech in the Greek parliament on China-Greece and China-EU relations."Coping with the financial crisis will be an important topic for talks between Wen and Greek leaders. We have a positive attitude about the measures taken by the European Union and the International Monetary Fund," Chinese Vice Foreign Minister Fu Ying said earlier on Wen's Greece visit. Greece's sovereign debt crisis triggered fears of a domino effect across the eurozone earlier this year."We have noticed that the Greek government has adopted measures which have been effective. We hope Greece will recover soon from the difficulties," Fu said.Chinese Ambassador to Greece Luo Linquan said: "Once again, the premier will send a clear signal to the world that China will give a vote of confidence in the economic prospects of Greece and that China is taking practical action to assist Greece and the European Union in overcoming the crisis."The four-nation visit, lasting till Oct. 9, will also take Wen to Belgium, Italy and Turkey. Wen will also attend the 8th Asia-Europe Meeting (ASEM) and the 13th China-European Union (EU) summit in Brussels from Oct. 4 to 6.

ZHENGZHOU, Oct. 25 (Xinhua) -- A moderate earthquake that hit central China's Henan Province Sunday afternoon levelled 24 houses and left 12 students injured, local officials said early Monday morning.The quake, measuring 4.7 on the Richter scale and with a hypocenter depth of 8 kilometers, truck Zhoukou City at 4:58 p.m., according to the China National Seismological Network.Twenty four houses in Taikang County collapsed while 12 students in a middle school were injured, who are currently in hospital.In Fugou County, about 40 houses were reported to have cracks or other damages.Tremor was felt across eastern Henan, including provincial capital Zhengzhou City.