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BEIJING, March 16 (Xinhua) -- The Chinese market has more potential for U.S. exports, especially high-tech products, as only 6.7 percent of overall U.S. exports went to China, said Ministry of Commerce (MOC) spokesman Yao Jian Tuesday.The two countries were each other's second biggest trade partners, and China was willing to strengthen economic and trade cooperation with the United States to promote more balanced Sino-U.S. trade, Yao said at a press conference in Beijing.This aim could be reached if the United States reduced restrictions on exports of high-tech commodities to China, said Yao.Just 7 percent of China's high-tech imports come from the U.S., down from 18 percent in 2003.China's imports grew faster than exports in the first two months this year. Imports grew 63.6 percent compared to a 31.4-percent growth in exports, figures from the General Administration of Customs show.Yao said the ministry would make efforts to increase imports this year by relaxing import controls, hosting trade exhibitions, and providing free exhibition space for the least-developed nations.Zero tariffs would be offered to some under-developed countries or regions to boost bilateral trade.The MOC would also continue sending Chinese procurement teams to foreign countries this year to raise imports, Yao said.

BEIJING, Feb. 13 (Xinhua) -- The outlook of China's steel industry will be better this year than 2009 as the impact of the stimulus package continues, the Ministry of Industry and Information Technology (MIIT) said Saturday.A strong increase in new investment plans would help boost domestic demand for steel while improving external demand following world economic recovery would encourage steel exports, the MIIT said.The implementation of a proactive fiscal policy and moderately easy monetary policy injected ample liquidity into the market and provided the steel enterprises with easy access for fund, it said.However, excess capacity, still weak external demand and rising production costs would all impose pressure on the development of the industry, the ministry said.China's crude steel production capacity was forecast at 700 million tonnes at the end of 2009, compared with 660 million tonnes at the end of 2008.In 2009, China's steel output rose 13.5 percent to 567.84 million tonnes. Its 68 large and medium sized iron and steel companies reaped 55.39 billion yuan (8.12 billion U.S. dollars) in profit in 2009, down 31.43 percent from a year earlier.

BEIJING, Feb. 9 (Xinhua) -- China's police departments will launch a 30-day campaign starting Wednesday to hunt down fugitives who are suspected of having committed a crime known as fake invoice fraud.The campaign will have a code name known as "spring thunder", said Liu Jinguo, Vice Minister of Public Security.While addressing a teleconference Monday, the vice minister said: "As the Spring Festival is drawing near, the demand for fake invoices remains strong. Perpetrators will get on the move."Statistics show that the police across the country uncovered 237 cases involving fake invoice fraud and detained 234 suspects in January. They also destroyed eight large sites making and selling fake invoices, and confiscated more than 12 million fake invoices in the past month.Fake invoice vendors are common in Chinese cities, where they offer receipts used for tax purposes. Such invoices could cause huge losses in tax revenues and could feed illegal activities, such as smuggling, money laundering and corruption.The Spring Festival, or the New Year's Day on the Chinese lunar calendar, will fall Sunday. It is an occasion for reunions of relatives and friends, completed with much fun and plenty of eatings. Spring Festival is the most important event for people of Chinese origin.

BEIJING, March 11 (Xinhua) -- China's supreme court and procuratorate vowed Thursday to step up anti-corruption efforts after a string of high ranking officials fell in last year's clean-up campaign.Prosecutors will focus on work-related crimes, commercial bribery and crimes that seriously infringe on people's interests this year, Prosecutor-General Cao Jianming told lawmakers in his work report to the parliament.More attention will also be given to criminal cases behind mass incidents and accidents, cases concerning construction projects, real estate development, land management and mineral resource exploration, Cao told nearly 3,000 lawmakers at the annual session of the National People's Congress (NPC).These areas are where corruption usually hide.Officials acting as "protective umbrella" for gangs will also be a focus of prosecutors' agenda this year, Cao said.In the work report of the Supreme People's Procuratorate (SPP), Cao said the country's prosecutors launched graft probes against 2,670 officials above county level last year, including eight at the provincial or ministerial level.The eight high-ranking officials included Huang Songyou, former vice president of the Supreme People's Court and Wang Yi, former vice president of the state-run China Development Bank.Also on the list were Chen Shaoji, former top political advisor of southern Guangdong Province, and Wang Huayuan, a former provincial official in eastern Zhejiang Province.Altogether, prosecutors investigated about 41,000 people, down 3.3 percent, in more than 32,000 cases, up 0.9 percent, for embezzlement, bribery, dereliction of duty and other work-related crimes last year, according to Cao's report.Among the probed, more than 18,000 were "extremely serious" corruption cases, while 3,100 were grave cases in connection to dereliction of duty or infringement of people's rights, it said.More than 9,300 government workers were implicated in cases of dereliction of duty, malfeasance and infringement of people's rights, Cao said.Nearly 3,200 bribers were punished "in an effort to strengthen crackdown on bribery offering crimes," he said.Cao said the authorities seized more than 1,100 on-the-run suspects involved in work-related crimes, with more than 7.1 billion yuan (about one billion U.S. dollars) embezzled or received in bribes recovered.NPC deputy Zhu Yong, also a political and law official in the provincial Communist Party committee in the eastern Anhui Province, said strict anti-corruption measures, such as auditing on officials who are leaving their posts, have produced fruitful results in fighting corruption.However, Zhu said some officials are still vulnerable to the temptation of bribes, and so fighting graft remains a challenge.Fighting graft is a very difficult task worldwide and cannot be efficiently addressed in a short period of time, Zhu added.VOWS TO CLEAN UP JUDICIARYChief Justice Wang Shengjun said courts will take actions on judicial corruption to prevent abuse of judicial power this year after Huang Songyou, former vice president of the Supreme People's Court (SPC), was jailed for life in January for taking bribes and embezzlement.Huang was convicted of taking more than 3.9 million yuan (about 574,000 U.S. dollars) of bribes from 2005 to 2008.Wang said nearly 800 court officials were punished for violating laws last year.Courts at all levels should "learn a lesson" from the case of Huang to pinpoint rooted problems on the management of judges and supervision of power, he said.Prosecutor-General Cao said the authority will "never relax its efforts" in the crackdown on judicial corruption.An extensive anti-gang crackdown in southwestern Chongqing municipality since last year revealed a grave situation of judicial corruption. About 200 judicial and public security officials in the city have been found to be implicated.Wen Qiang, former deputy police chief and head of the justice bureau of Chongqing, stood trial last month. He was accused of raping, taking more than 15 million yuan of bribes to protect criminal gangs, and possessing a huge amount of unexplainable assets.

BEIJING, Jan. 23 (Xinhua) -- The Bank of China (BOC) board has agreed to sell up to 40 billion yuan (5.86 billion U.S. dollars) of bonds convertible to A shares to improve capital adequacy.The proposal will be turned into the first temporary shareholders' meeting in 2010, which will be held on March 19, for approval.Excluding issuance costs, the proceeds from the issuance of the six-year convertible bonds will be used to replenish the bank's capital base and working capital and to lift its capital adequacy ratio, according to the BOC, the third largest lender by market value in China.The BOC has been implementing positive financial policies and relatively loose monetary policies since 2009.The BOC capital adequacy ratio stood at 11.63 percent and the core capital adequacy ratio at 9.37 percent by the end of September 2009.

来源：资阳报