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HANGZHOU -- China needs to "free itself from conservative ideas" if it wants to further open the country to the world, a gathering of foreign affairs officials concluded at meeting held in East China's Zhejiang Province on Tuesday.Officials in charge of foreign affairs at both the provincial and municipal levels agreed on future policies to open up their respective regions wider to the world."We need to free ourselves from conservative ideas, seek new ways to expand economically and have culture exchanges with other cities and regions in the world," said a statement issued at the meeting.The officials agreed that foreign affairs departments at local levels were facing great challenges which also offer great opportunities. They discussed the ways to implement the guidelines of the 17th National Congress of the Communist Party of China (CPC) in their foreign affairs work, the statement said.Opening wider to the world will contribute to China's drive to build a moderately prosperous society in all respects, realize peaceful development and create a harmonious world, it said.Chinese Foreign Minister Yang Jiechi also addressed the meeting on China's foreign policies and international relations.

China Railway Construction Corp. (CRCC), the country's leading rail builder, may raise as much as 22.25 billion yuan (3.1 billion U.S. dollars) in its initial public offering (IPO) in Shanghai.     In a statement to the Shanghai Stock Exchange late Sunday, the state-owned company said it has cut the number of A shares it is offering to 2.45 billion from 2.8 billion after reconsidering its capital demand.     The 2.45 billion shares represent 23.44 percent of CRCC's outstanding capital. The firm had built nearly 34,000 kilometers of rails by the end of 2006, more than half of all the rail links built nationwide since 1949.     On Feb. 14, CRCC was given green light by the China Securities Regulatory Commission to issue no more than 2.8 billion A shares on the Shanghai Stock Exchange.     The IPO price range was set between 8 to 9.08 yuan and it translated into 26.92 to 30.56 earnings multiples after the domestic share sale, according to the statement.     The company would start to receive from institutional investors orders for its 612.5 million shares, or 25 percent of the offering, on Feb. 25 and 26. The retail investors would be able to subscribe for the remaining shares on Feb. 26, the statement noted.     CRCC also planned to sell no more than 1.71 billion H shares in Hong Kong.     The company established its name by building the Qinghai-Tibet railroad, Shanghai maglev rail line and the Beijing-Kowloon railway. It also took the largest share in the bidding for the construction of the express railway linking Beijing and Shanghai.     Its total assets amounted to 155 billion yuan (21.7 billion U.S. dollars) by the end of November 2007, with net profit reaching 2.8 billion yuan (391.8 million U.S. dollars).

BEIJING, March 21 -- A growing number of people are choosing to keep their money in the bank rather than invest it in stocks or property, a central bank survey released yesterday said.     More than 51 percent of the 20,000 households polled said the current level of interest rates was "appropriate", the quarterly survey by the People's Bank of China said. The figure was up from 46 percent in the previous poll held in the fourth quarter of last year, and was the fourth consecutive quarterly increase.     The central bank raised interest rates six times last year in a bid to curb inflation. The rate for a standard one-year savings account is now 4.14 percent, up from 2.52 percent at the start of last year.     While investing on the stock market was a popular option in the earlier part of last year, recent corrections have dampened enthusiasm. The benchmark Shanghai Composite Index has fallen about 40 percent since October, and in recent months, bank deposits have grown significantly.     The survey was carried out last month and involved families in 50 cities. Of those polled, 35 percent said they thought it necessary to save more, up from 30 percent in the previous poll, while almost 28 percent said they planned to invest more in stocks and mutual funds, down from about 36 percent.

BRASILIA - China Wednesday called on the international community to observe the principles and framework set by the Kyoto Protocol and the United Nations Framework Convention on Climate Change.The appeal was made by Cao Bochun, vice director of the Environment and Resources Protection Committee of the Chinese National People's Congress, at the G8+5 Climate Change Dialogue forum held in this Brazilian capital."As a precondition of ensuring healthy human development, tackling climate change is today's and tomorrow's basic principle with which we should persist in confronting the problem," said Cao."Common but differentiated responsibilities" stated in the Kyoto Protocol and UN Framework Convention on Climate Change should be the basis and precondition for a rational move in handling climate change, he said.The Chinese legislator said at the forum that "China, as a responsible country, has a resolute and consistent policy in dealing with climate change."China will do its "best to boost its capability" to fight climate change based on China's reality, said Cao.The capability of the mini-thermal power plants closed by the Chinese government in 2007 as an environment-protection measure reached some 14.3 million kilowatts, he said, adding that the drive will continue.He also rebutted criticism of China's increasing greenhouse gas emissions, saying most of the critics have ignored a fact that transfer emissions account for some 30 percent of China's total greenhouse gas emissions, which means China has shifted some emission pressures from a lot of countries.The forum, initiated by then British Prime Minister Tony Blair, was established in 2005 for legislators from the Group of Eight industrialized nations - Britain, Canada, France, Germany, Italy, Japan, Russia and the United States - and their counterparts from five emerging economies - China, India, Brazil, Mexico and South Africa - to address the global climate issue and anti-poverty efforts.

The Chinese government is working on specific regulations for collecting royalties from television, radio stations for using music works, a senior official said in Beijing over the week.However, it has not been decided when the regulations will be publicized, Liu Binjie, director of the General Administration of Press and Publication (GAPP) and the National Copyright Administration (NCA), was quoted as saying.The Chinese government's efforts in combating piracy and protecting intellectual property rights (IPR) have resulted in more shops and restaurants signing up to pay royalties on the ubiquitous background music that had long been used for free.Background music played at department stores or hotels -- also called "muzak"-- received legal protection in China in 2001 under revisions to the Copyright Law. The law states that both live and mechanical performances enjoy the same rights. Up to now, most big hotels, department stores and supermarkets in Beijing and Shanghai have paid fees to the Music Copyright Society of China (MCSC) for using the songs under their administration, according to sources.And Karaoke bars in China's main cities were made to pay 12 yuan (US.50) a day in royalties to music artists for each room, according to a regulation set by China's National Copyright Administration late last year.However, most television and radio stations in China are still using music works without paying any royalties.The Music Copyright Society of China is now negotiating with television and radio stations on copyright fee payments, China Press and Publishing Journal reported.The Music Copyright Society of China is the country's only officially recognized organization for music copyright administration.The association has now administered copyrights for over 14 million music works by 4,000 members.Public venues including hotels, restaurants and department stores are charged with different standards by the society. The usual fee is 2.54 yuan (US.9) per square meter per year for a department store of 10,000 to 20,000 square meters to use the music, the society said.