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LONDON, March 13 (Xinhua) -- The Center for Creative Business in London hosted on Thursday Creative Exchange with China, exploring the possibilities of business ventures between the two countries in the creative industry.     The conference, which is aimed to help creative businesses from both China and Britain to get to know each other before exploring the business potentials of the rising industry, has attracted some 200 creative entrepreneurs, creative business managers and executives, policy makers, practitioners academics and researchers.     In his keynote speech delivered at the conference, Michael Bichard, rector of the University of the Arts London, said within the next two years, Britain's creative industries sector is expected to overtake the financial sector as the country's most significant economy. At the same time, China will move ahead of Germany as the world's third largest economy.     "If we remain isolated, we would not be able to achieve our creative goals of building global brands. To make collaborations effective, it takes much deeper look into the respective industries instead of superficial ones," he said.     Bichard, who is also chair of Design Council UK, hopes that Design Council would cooperate with China not only academically, but across the business to develop tomorrow's creative industry.     However, Bichard noted that creative exchange is not just about money, it's about understanding. The Olympics is a strong link between Beijing and London. Bichard urged for enforcing the bond, saying "two countries together can achieve great things."     Professor Xiong Chengyu, director of National Research Centre of Cultural Industry at China's prestigious Tsinghua University, clarified the conceptual difference of cultural industry in China and creative industry in Britain.     "It has only been 5-6 years since we began to talk about the cultural industries in China. In the past in China, we regarded culture as a kind of spiritual course which is focused on social benefit rather than economic benefit. The Chinese government realized how important it is to the national economy and has already carried out a number of policies to help and promote development," he said.     Wang Yongzhang, director general of cultural industries at China's Ministry of Culture, elaborated on China's policy improvement on the cultural industry over the years to serve as a backgrounder to the audience.     Representatives from British and Chinese creative companies also shared information about their experience in China during panel sessions.     The afternoon session dwelled on three topics with participants discussing Investing in China, Investing in UK and Managing Creativity in China.     The one-day conference sponsored by the Center for Creative Business, University of the Arts London and London Business School, is part of China Now, a six-month celebration of Chinese cultural and history across Britain.

At least two Chinese universities could achieve "world-class" status within the next 20 years, the president of one of the United States' oldest higher education institutions said yesterday in Beijing. Yale University's Richard Levin made the comment at the start of a 10-day visit by about 100 Yale faculty, students and administrators, the biggest delegation from the university ever to visit China. President Hu Jintao, who extended the invitation to the Ivy League university during his 2006 visit to the US, met the delegation last night at the Great Hall of the People. Hu said the visit of Levin's delegation will help promote mutual understanding and friendship between the two peoples, as well as the stable and healthy development of Sino-US relations. The president expressed his hope that Yale University students build strong relationships with the young people of China. In an interview with Chinese media, Levin said the country had made great progress in strengthening its top universities, by investing more in first-class facilities including research labs. "The key ingredients to being a world-class university are top students and top faculties," Levin said. "I don't think there is any doubt that China's top universities today have students that are as good as any in the world. "What remains to be built are faculties that are at the very frontier of research in their fields and worldwide leaders in their research endeavors." The delegation will spend its days meeting government leaders and visiting universities and other historical and cultural sites in Beijing, Shanghai and Xi'an. The Chinese government and Yale are sharing the cost of the trip. Participating students and faculty, the majority of whom had never before been to China, were handpicked to represent the university's different schools. Delegation groups will today meet with government leaders, including Yang Jiechi, the minister of foreign affairs and Jiang Zhenghua, chairman of the Chinese Peasants' and Workers' Democratic Party. The visiting students may even bridge some cultural divides. "I think that young people can play a very important role in securing a peaceful future for the US and China," Levin said. "Today, especially among the older generation, there is a great deal of ignorance about China in the United States, and some ignorance about the United States in China as well." Before leaving for China, some of the delegation met with US President George W. Bush, who spoke about the importance of "people-to-people diplomacy". "I think the trip will serve a cultural purpose in that our students will get a deeper understanding of Chinese culture to the extent that this throws into public view the importance of student-to-student exchanges," Levin said. "And that certainly serves a political purpose."

The Chinese government on Tuesday expressed indignation and opposition to the resumption of "diplomatic relations" between St. Lucia and Taiwan. Foreign Ministry spokesman Liu Jianchao said in a statement that the resumption of "diplomatic relations" between St. Lucia and Taiwan was a flagrant violation of the declaration on the establishment of diplomatic relations between China and St. Lucia. It also constituted interference in the internal affairs of China, Liu said. He said the embassy of China in St. Lucia had already lodged a strong protest to the government of St. Lucia. He said the government had instructed the embassy to request the St. Lucian government live up to the principle of the declaration that the two countries issued on the establishment of diplomatic links in 1997. It also instructed the embassy to request St. Lucia return to the rightful stance of recognizing one-China. "Otherwise, the government of St. Lucia will be responsible for the consequences incurred," Liu said. Liu said the Taiwan authority's attempts to pursue "money diplomacy" and create "two Chinas" or "one China, one Taiwan" had no support in the international community and would not succeed.

China is moving in the direction of raising its caps on foreign ownership in banks but has no timetable for doing so, Liu Mingkang, head of the China Banking Regulatory Commission, said on Thursday. "It takes time, but it's the orientation -- we are moving forward," Liu told reporters after meeting with U.S. lawmakers on Capitol Hill. Asked whether he knew when the caps, currently set at 25 percent, would be lifted, Liu replied: "There is no timetable." U.S. Treasury Secretary Henry Paulson has been pushing hard in an effort to get China to raise the caps and improve the access U.S. firms have to China's financial sector. China's central bank governor, Zhou Xiaochuan, also said China needed to further assess the economic situation before deciding on more monetary tightening measures. "We already have some tightening policies, so we are not hurrying to make any further -- it takes time to look at the feedback," Zhou said. Liu and Zhou were part of a top-level Chinese delegation in Washington for two days of talks with Bush administration officials hosted by Paulson, as well as meetings with legislators upset over the huge U.S. trade deficit with China.

The Chinese-African People's Friendship Association (CAPFA) will nominate 10 Africans Who Have Deeply Moved Chinese People next month, in a moved aimed at cementing civilian diplomacy between the two sides.The 10 candidates are expected to be unveiled at the next Forum on China-Africa Cooperation (FCAC) late next year.Chen Haosu"CAPFA's recognition will benefit both peoples by enhancing mutual understanding and trust," Chen Haosu, president of the Chinese People's Association for Friendship with Foreign Countries, said.The awards will go to Africans "who have made great contributions to bilateral ties", Wang Tong, an representative of the CAPFA, said, adding that the association is identifying criteria of eligible candidates.The first round of nominations will involve all 131 councilors of the CAPFA, Liu Hongmin, also from the association, said."Our councilors include big Chinese entrepreneurs such as Huawei Technologies and ZTE, among others," he said. "They are the most suitable to put forward nominees because of their significant investments in Africa."Liu said the 10 winners will be just one part of the second China-Africa Friendship Award. The other part will be the 10 Chinese Who Have Deeply Moved the African People. This will be the second time such awards have been givenThe first 10 winners - which included doctors, journalists, scholars and politicians - were announced in Beijing during the FCAC in November 2006."These awards reflect sincere friendship and intense people-to-people communication, though China and Africa are distant from each other," Dai Yan, a former councilor in Ghana, said."But both peoples still have a long way to go to truly understand each other because of cultural differences," he said. More African people have traveled to China as bilateral ties have developed over the past years.The number of Africans coming to Guangzhou, capital of Guangdong province, has increased by 30 percent every year since 2003. Most of these newcomers are traders.The city now has about 20,000 African residents, Huang Shiding, of the Guangzhou Academy of Social Sciences, estimated.Beyond the world of business, "500-600 African students are studying in universities and colleges in Beijing," Wang said.Meanwhile, on the other side of the globe, a growing number of Chinese people have settled down in Africa.In one reflection of the impact they are making, people in Nigeria crowned tribal chieftains from China in 2001 and 2007.