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TIANJIN, May 13 (Xinhua) -- Premier Wen Jiabao said Thursday that establishing a strategic relationship of cooperation between China and the Arab states was in the interests of all sides.In a meeting with Secretary General of the League of Arab States Amre Moussa in north China's Tianjin, Wen said the sides would discuss establishing the relationship.The fourth Ministerial Meeting of the China-Arab Cooperation Forum, which began Thursday, was attended by foreign ministers or representatives of China and Arab states and Amre Moussa.Wen said the new relationship was conducive to peaceful international development. The 4th Ministerial Conference of the China-Arab Cooperation Forum is held in China's northern port city of Tianjin, on May 13, 2010.China and the Arab states began to describe their relationship as a "new partnership" at the forum's second ministerial meeting in 2006.Wen said he believed more achievements would be made in the development of China-Arab ties, and the ministerial meeting would be a success.He hailed the forum's role in advancing China-Arab relations, saying it had become an important platform for dialogue and practical cooperation.The relationship set a good example for diverse civilizations to learn from each other, make exchanges, and seek common development, he said.Moussa said the Arab states hoped to carry out more exchanges and cooperation with China, in the hope of reinforcing political and cultural contacts, and cementing economic and trade cooperation through the mechanism of the forum.Moussa spoke highly of China's positive and constructive role in the Middle East issues.

BEIJING, May 3 -- Ma Weihua, president and chief executive officer of China Merchants Bank (CMB), said he wanted to see Chinese banks elevate their level of globalization in the context of expedited overseas expansion of Chinese companies during his bank's recent road show in the United States. He said CMB would pursue this process ambitiously but cautiously.The bank is soon to relocate its night-shift foreign exchange trading team to its New York branch, which was established in 2008, and will move on to security trading as well in the future, according to Ma during a group interview. The branch is also working on consolidating its dollar settlement business."What I'm concerned about right now is to first have my New York branch familiarized with the US market, customers and rules as soon as possible so I can expand the business steadily," Ma told the audience at a recent speech at New York University's Leonard N. Stern School of Business. "We won't consider faster expansion until we have secured our position here."Because of policy restrictions, CMB and other Chinese banks are only able to provide very limited services overseas for now. Retail banking, which CMB is best at, is still being constrained in its New York branch, its first branch in the West. But the bank is eyeing up other opportunities.The branch is attaching increasing importance to the loan business for Chinese companies during their overseas merger and acquisition activities. It just completed a big deal for a Chinese State-owned conglomerate but declined to reveal its name."The most fundamental motive to globalize our bank is to support Chinese companies' overseas growth and to provide the same quality service for foreign companies as well when they come to China," Ma said.According to Ma, over the past five years, Chinese companies' overseas direct investment saw an annual increase of 60 percent and their non-financial overseas investment grew by 68.5 percent year-on-year.In comparison, overseas assets only make up less than 4 percent of Chinese banks' total assets, while in large banks in Europe and the US, the proportion is about 40 percent, he said.

BONN, Germany, April 10 (Xinhua) -- The Copenhagen Accord should not act as "the third track" of climate talks and the urgent situation calls for all parties advance talks without delay in 2010.That's according to Su Wei, head of the Chinese delegation to the Bonn meeting held from April 9 to 11.Su told Xinhua on Friday that he expected that the ministerial-level U.N. conference to be held in Cancun, Mexico in December could achieve "three interdependent targets," as the 2009 Copenhagen summit failed to fulfill the task assigned by the Bali Roadmap."The first is to confirm quantified post-2012 emission-cut targets for the developed countries bound by the Kyoto Protocol," he said, "The second, the developed countries which haven't endorsed the Protocol should determine comparable emission-cut goals under the U.N. Framework Convention on Climate Change (UNFCCC).""Last but not least, developed countries should provide practical support to developing countries on climate funds and technology transfer," Su said.The Copenhagen Accord, which was put forward at the last minute after marathon talks in late 2009, reaffirmed the principle of "common but differentiated responsibilities" for developed and developing nations.It also upheld the dual-track negotiating mechanism of the UNFCCC and its Kyoto Protocol and reached important political consensus on several key issues, such as climate financing, long-term objectives and transparency of mitigation measures, Su told Xinhua."One of the prior tasks at present is that the political consensus achieved in Copenhagen should be reflected in the negotiating texts of the two working groups, so as to push the negotiations forward in 2010," he said.The two working groups, both under U.N. framework, are named as the Ad-hoc Working Group on Long-term Cooperative Action (AWG-LCA) and the Ad-Hoc Working Group on Further Commitments for Annex I Parties under the Kyoto Protocol (AWG-KP).Su also said that the Copenhagen Accord was an important political declaration on climate talks, but the deal itself could not substitute for the dual-track mechanism set by the Bali Roadmap in late 2007."The accord cannot be the third track, and all parties should continue the negotiating process under the existing dual-track mechanism, and focus on pending issues left by Copenhagen summit," he said.Su called for more climate meetings this year for both working groups, so that all parties could have plenty of time to "fully exchange their concerns and positions.""Developing countries, such as African nations, are the most vulnerable to global warming and in need of financial and technological support from developed countries when facing climate challenges," he said."The current process has lagged behind the schedule set by the Bali Roadmap, urging us to accelerate the negotiating process to prevent further damages," he added."Affected by internal economic crisis, some developed countries tend to strides back in climate issues, as the public's environmental enthusiasm diminished," Su warned. "Some rich nations emphasized their economic recovery while weakening efforts on climate aid and technological assistance for developing countries.""This backward gesture of rich countries sent strong negative signals to the ongoing climate talks," Su said.The Copenhagen Accord had pledged to offer 10 billion U.S. dollars per year to help poor countries combating climate change in the next three years, known as "the fast-track approach" and to boost the aid to 100 billion dollars annually by 2020."The amount of the money was apparently inadequate, compared with the tough mission of fighting climate change, but it was still far better than none," he said. "What we hope is that these promises can be converted into real actions, to fulfill the urgent demands of some poor countries on tackling climate change."He also noted that the United States, the main emitter and player in climate talks, remains "uncertain" on its actions of emission cutting, as the country's carbon-capping bill seemed stalled in the Senate."The international community expects the United States, the leading economy in the world, to make positive contributions on emission reduction and long-term climate financing mechanisms, which would weigh a lot for promoting the U.N. climate negotiations," he said.As for China, Su said his country would continue to play an active and constructive role, demonstrate utmost sincerity and make its best effort for reaching a widely accepted framework on combating climate change.The United Nations held a new session of formal climate change negotiation in the German city of Bonn from April 9 to 11, the first round this year, aimed at drawing up a calendar on climate talks for the whole 2010.Another session of U.N. climate talks will also take place in Bonn, headquarters of U.N. Climate Change Secretariat, from May 31 to June 11

BEIJING, April 2 (Xinhua) -- Experts say the Party's promulgation of four documents on the selection and promotion of government and Party cadres will build a "total supervisory network" and cover the entire process of an official's career, from selection to retirement.The four documents, promulgated Wednesday by the General Office of the Communist Party of China (CPC) Central Committee, cover the selection and auditing of officials and set out penalties for those found guilty of misconduct in the selection and promotion of government and Party cadres.Prof. Ye Duchu of the Party School of the CPC Central Committee said the documents "clarify the responsibilities of people in charge of selecting officials" and aim to prevent corruption and make the cadre selection process transparent.Personnel departments at various levels are required to report personnel changes to superior departments before official appointments are made, and the appointments should be discussed by members of CPC committees of the same level.Officials are also required to be audited before leaving their posts and penalized if they are found to be guilty of misconduct.The selection and promotion of officials have been prone to public criticism in some areas.According to the Party's disciplinary body in central Henan Province, nine of the 22 county-level Party chiefs that had been penalized for corruption since 2006 have been punished while in their posts while the 13 others were punished about one year after being promoted."It reflects shortcomings in the selection and promotion of cadres," Ye said.Prof. Lu Wei of Wuhan University in central Hubei Province said the documents will help prevent the unmerited selection of officials and clarify rules.China issued its first regulation on officials' selection in 1995. Later, it was amended to make it clearer, stressing "transparency," "competition" and "equal emphasis on both integrity and professional competence."Lu said this time the new documents set out penalties for misconduct in the selection of officials.A number of high-ranking officials were deposed or resigned in recent years due to take responsibility for failures, coal mine accidents and food safety scandals. But some of them won new posts shortly after being removed.To address this issue, the new documents clarify that "officials who have been transferred to other posts for misconduct in selection and promotion of cadres will not be eligible for further promotion for one year," and "demoted officials will also be barred from promotion for two years."Lu said the new documents will tighten regulation of officials' conduct and improve the credibility of officials' selection.

BEIJING, May 19 (Xinhua) -- China's centrally-administered state-owned enterprises (SOEs) raked in a combined profit of 325.99 billion yuan (47.7 billion U.S. dollars) in the first four months of the year, the industry authorities announced here Wednesday.The profit figure in the January-April period represents 81.7 percent growth year on year, the State-Owned Assets Supervision and Administration Commission (SASAC) said in a statement on its website.Centrally controlled SOE's combined operating revenue hit 4.89 trillion yuan in the period, up 50.4 percent year on year, the statement said.While the statement did not specify the reasons for the profit and revenue increases, experts from the SASAC research center attributed the surge to last year's low comparison basis when Chinese firms were hit hard by the global economic downturn.There are currently 126 centrally-administered SOEs under the SASAC.