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China warmly welcomes French President Nicolas Sarkozy on a state visit next month, which will "be a great event for China-France relations", Foreign Minister Yang Jiechi said at a joint press conference with his French counterpart Wednesday.Yang and French Foreign Minister Bernard Kouchner discussed the preparations for Sarkozy's visit, and agreed that it would definitely achieve great results.A lot of agreements will be inked between France and China during Sarkozy's visit in areas such as energy, transportation and education, Kouchner said.The French foreign minister is in China to pave the way for Sarkozy's visit, the first since he assumed presidency in May.During their talks, Yang said China is ready to go along with France to deepen strategic dialogue, expand mutually beneficial cooperation and have closer consultation and coordination on major international issues.The two foreign ministers agreed, as two of the five permanent members of the UN Security Council, to strengthen comprehensive strategic partnership for the benefit of both sides. Such a development will be beneficial to global peace, stability and development, too.On the development of ties between China and the European Union (EU), Yang said their relationship had matured after 30 years of cooperation."The two sides share broad common interests in intensifying mutual political trust, expanding economic and trade cooperation, jointly tackling the challenges of climate change and combating traditional and non-traditional security threat," Yang said.Kouchner ensured Yang that France would double its efforts to solve the pending China-EU problems after his country assumed the rotating presidency of the EU in July 2008.On the Taiwan question, Kouchner said France follows the one-China policy. He said EU foreign policy chief Javier Solana had made a statement on behalf of EU countries opposing Taiwan authorities' attempt to hold a referendum to move the UN for membership. "France supports the position (of Solana)," Kouchner said.Yang and Kouchner also exchanged views on regional and international matters such as the nuclear issues on the Korean Peninsula and in Iran, the situation in Myanmar, climate change and the Darfur and other issues in Africa.

A brand-new labor contract law comes into force from the New Year's Day that is expected to markedly propel rights for billions of Chinese workers."The government that is making the most concerted effort to protect workers rights is China," said Auret van Heerden, Geneva-based head of Fair Labor Association, which monitors work conditions in 60 countries.That "goes against the conventional wisdom that China is leading the race to the bottom," the Bloomberg News quoted Heerden as saying on Tuesday.The Labor Contract Law aims to improve job security for workers, making open-ended terms of employment for those employees who have completed two fixed terms with the same employer. The legislation limits overtime, sets minimum wages and guarantees one month's pay for each year worked for sacked employees. It is the first time that China's top legislature, the National People's Congress Standing Committee, has ruled on open-ended work contracts and severance pay for fired workers.The new law will make it more difficult for companies to hire temporary workers, a practice favored by exporters to cope with fluctuations in orders.One side-effect of the legislation will be higher labor costs for all employers in China. It is estimated that some labor-intensive businesses will have to raise their selling prices, or move to other places with lower cost.Olympus Corp., the world's No.4 digital camera maker, and Yue Yuen Industrial (Holdings) Ltd., the biggest maker of shoes for brands such as Nike Inc., are among companies shifting some production to Vietnam to cut costs.According to Chinese press reports, some companies have been terminating contracts and asking employees to resign ahead of the introduction of the law.Huawei Technologies Co., China's largest maker of telecommunications equipment, offered 7,000 workers new contracts with benefits if they terminated their old agreements, spokesman Ross Gan said.Some employees accepted, while others chose not to sign and left, he said, without providing details. The move wasn't aimed at evading legislation, Gan said in an email to the Bloomberg News.

HAICHENG, Liaoning: The death toll has risen to 10 following the collapse on Sunday of a dam at an iron mine in Liaoning Province, after rescuers retrieved four more bodies Monday.Rescuers search the missing after the collapse of a dam at an iron mine in Shiqiaozi village of Haicheng, Northeast China's Liaoning Province November 26, 2007. Ten, including a child, has been confirmed dead and another three are still missing. [Xinhua]Zhang Xingdong, vice-mayor of Haicheng and head of the rescue team, said the bodies, including one of a child, were buried deep in silt.He said about 750 people, including soldiers, armed police, local officials and villagers, were continuing to search for three people still missing after the dam collapsed in the village of Shiqiaozi in the city's Ganquan township.More than 30 dredgers have also been employed to help clear the silt, he said."To ensure the safety of rescuers, we have sent experts to closely monitor four other iron tailings dams nearby to guard against possible further accidents," Zhang said.The four dams have a registered capacity of about 1 million cu m of waste ore each.The power supply has yet to be turned back on in Xiangyang, which is one of two low-lying villages hit by a large volume of mud-like debris after the collapse, he said.The debris smothered homes, suffocating and crushing those inside, he said.A further 17 people were injured in the accident and are now in hospital. One is in a critical condition, while three others were also seriously hurt.Doctors have said they are expected to pull through, however.The local government has set up its rescue headquarters at the primary school in Xiangyang village. It has also provided candles, quilts, clothes and food to villagers made homeless.Some were housed overnight in a local school, while others stayed with relatives.Xiangyang, which has a population of about 980, was the worst-hit by the debris, with 33 houses destroyed.The collapse also affected the village of Caijia, which is home to some 500 people. No casualties have been reported there, but there have been reports of severe damage to houses, vehicles and grain fields.The 100-m-long by more than 10-m-high dam was situated on a hillside. A crack more than 10 m long appeared in it and a river of waste ore and mud some 80 m wide spilled down across cropland.With a capacity of 150,000 cu m, the dam, which belongs to the Dingyang Mining Co Ltd, an iron ore producer, was designed to contain waste ore. However, over recent years, a large quantity of water had built up inside it, Zhang said.The mining company is a subsidiary of the privately run Xiyang Corporation, a magnesium refractory products and fertilizer producer based in Liaoning.Xinhua

BEIJING, March 3 -- The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said on Sunday. A China Development Bank office in Shanghai. The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said March 2, 2008.      The CDB cannot turn into a commercial bank immediately since it does not accept individual deposits now, but it will start doing so in the future, said Liu Kegu, vice governor of the bank.     The CDB is one of the three policy lenders in the country.     The CDB at the end of last year received the first 5 billion U.S. dollars of the planned 20-billion-dollar re-capitalization from Central Huijin, an investment arm incorporated into China Investment Corp (CIC).     Liu said the capital injection will not affect the CDB's credit rating since it has the best asset quality among domestic banks. It has a non-performing loan ratio below 1 percent - much lower than that of major commercial banks.     The CDB will retain its long-term credit business and the right to issue financial bonds in the interbank market.     The lender has generated controversy in the banking industry by increasingly becoming involved in commercial business in recent years.     Earlier reports said that the CDB is planning to expand into financial leasing to diversify its business. It is reported to be on the verge of acquiring Shenzhen Financial Leasing Co Ltd for 7 billion yuan, by taking a 90 percent stake.

UNITED NATIONS -- China's special representative for climate change talks, Yu Qingtai, urged the international community to conduct substantive negotiations aimed at securing a new global post-2012 agreement on climate change by 2009.Speaking at the UN General Assembly debate on climate change, Yu said that the Bali roadmap, adopted at the UN climate conference last December by delegates from nearly 190 nations, is "only a beginning.""The international community must continue with the task of conducting substantive consultations and negotiations, so as to insure a final agreement on the post-2012 international cooperation on climate change within the next two years," he said.Yu emphasized that any framework for future arrangements must be firmly based on the principles established by the UN Framework Convention on Climate Change (UNFCC) and the Kyoto Protocol, particularly the principle of common but differentiated responsibilities.The four building blocks of the roadmap -- mitigation, adaptation, technology transfer and financing, are all important components for developing an effective framework for responding to climate change, and should be given equal attention, and none of them should be neglected, he noted.Urging developed countries to further strengthen policies and measures aimed at emission reduction, the special envoy said the concerns by developing countries over adaptation, technology transfer and financing should be addressed in earnest, so that they will have the capacity to make greater contributions to confronting the challenge from climate change."The effectiveness of participation by the developing countries will, to a significant extent, depend on whether the developed countries will take substantive actions on financial and technological assistance," he said. "Effective mechanisms should be set up as soon as possible to insure that measurable, reportable and verifiable assistance be provided to the developing countries with regard to financial resources, technology and capacity building," he said.China takes climate change "very seriously" and have adopted various policies and measures to respond to the challenge, with " noticeable success," he said."While making our own due contribution, we will also help other developing countries to enhance their ability to adapt to climate change," Yu added.Representatives, including some 20 ministers, from more than 100 countries and international organizations attended the two-day high-level session and exchanged views on ways to move forward the negotiating process launched in the Bali conference.