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BEIJING, Aug. 31 (Xinhua) -- China's banking regulator will strictly implement the central government's macroeconomic policies that aim to curb soaring housing prices, an official said Tuesday.Ye Yanfei, deputy head of the Statistics Department of the China Banking Regulatory Commission (CBRC), said the CBRC will restrain speculative property investment and support the building of affordable housing while controlling risk.China's housing market and lending to the property sector are crucial to the national economy and people's livelihood, as well as to the stable and steady development of the nation's banking sector, Ye said at a seminar in Beijing.Ye's remarks come after the banking regulator said it would further "instruct and monitor" commercial banks' efforts to strengthen the management of lending to home-buyers.Ye's comments echo those of Zhang Ping, director of the National Development and Reform Commission, who said last Thursday in a report to China's top legislature the government will "further implement the measures meant to curb excessive gains in housing prices and resolutely restrain speculative property investment in the second half the year."Ye also said the CBRC has pushed lenders to test the impact of falling house prices, although the regulator said earlier that hypothetical scenarios examined in stress tests do not herald any change in policyHousing prices in major Chinese cities rose 10.3 percent year on year in July, slower than the 11.4 percent growth rate in June, according to official figures.On a monthly basis, housing prices in June fell 0.1 percent from May and July prices were unchanged from June.

SHANGHAI, Oct. 31 (Xinhua) -- Chinese Premier Wen Jiabao declared the closure of the World Expo 2010 at the Expo Culture Center in Shanghai Sunday night.A ceremony was held here to celebrate the end of the Expo, which International Exhibitions Bureau (BIE) President Jean-Pierre Lafon called an "astounding success."The first of its kind staged in a developing country, the event attracted 246 participating countries and international organizations and 73 million visitors. Both figures are records in the history of expos, the first of which was held in London in 1851.On an area of 5.28 square kilometers, the Expo Site has become a global village where people can not only see rare cultural treasures from around the world -- the bronze chariot and horse sculpture from China's Warring States period, the statue of Athena from Greece and French impressionist masterpieces, for example -- but also get a taste of the diversity of the world's cultures through more than 20,000 cultural events.The gala is eyed in China as another event of national splendor after the 2008 Beijing Olympic Games showcased China's status as an economic and political power to the world. 

BEIJING, Sept. 30 (Xinhua) -- Chinese Premier Wen Jiabao said here Thursday that the Chinese government would develop more open policies to attract high-level foreign talent to China.China's development would not be achieved without the understanding and support from the international community, Wen said.He also urged government departments to create more favorable policies for foreign experts in China, concretely implement the policies and provide better working and living conditions for these experts.Wen made the remarks during his meeting with 50 foreign experts who had won this year's "Friendship Award" at the Great Hall of the People.Chinese Premier Wen Jiabao (C) meets with foreign experts, who have just received the Friendship Award presented by the Chinese government, and their relatives in Beijing, capital of China, Sept. 30, 2010. Wen, on behalf of the Chinese government and the people, congratulated the winners and thanked them for their outstanding contribution to the country's social and economic development.He also met with the winners' family members and extended his greetings to them, as well as to all foreign experts and friends working in China.Foreign experts in China were the participants in China's development and the eyewitnesses of such development and progress in China, Wen said.The achievements China had gained were a result of both the hard work of the Chinese people and the wisdom and efforts of the foreign experts, he said.The "Friendship Award" is an annual award issued by the Chinese government to honor outstanding foreign experts in China. A total of 1,149 foreign experts from 60 countries have been awarded the honor since it was issued in 1991.This year's 50 winners come from 16 countries, and they are experts in various fields such as industry, agriculture, energy technology, environment, education, health and cultural sectors. They received the award at a ceremony on Wednesday.On Thursday, Wen also met with new ambassadors to China from 32 countries at the Great Hall of the People.

TIANJIN, Oct. 23 (Xinhua) -- China has become Volvo's third largest market, with more of its car models to go on sale in the world's largest auto market this year, Chief Executive Office (CEO) of Volvo Cars China said in Tianjin.Dr. Alexander Klose, CEO of Volvo Cars China, told Xinhua at the Ninth Tianjin International Automobile Trade Show, being held from Friday to Wednesday.Klose said Volvo Cars had entered a new era of fast development, adding that its sales in China roared in 2010.As of the end of September, Volvo's global sales volume was up 12.5 percent year on year, compared with 52 percent year-on-year rise in China, he said.Volvo also aggressively expanded its dealer network to 98 outlets in 81 Chinese cities this year.Two new Volvo sales centers opened in Beijing within merely one week in early October, about two months after east China's Zhejiang Geely Holding Group Co. acquired the Swedish brand from the U.S. auto giant Ford for 1.5 billion U.S. dollars in early August.Dr. Klose said he was confident of seeing tremendous growth in China's auto market in the next five years."As the Chinese government has increased the tax rate for large displacement cars already, we now have a lot of cars below three liters, and I think we'll stick to that strategy, as you can see now the XC60 which was introduced today is just two liters," he said."As the technology advances, we'll probably even see 1.6 liter engines or 1.5 liter engines in the future," he added.Volvo Cars is not the only automaker hoping to take advantage of China's rapidly growing auto market.Bentley, the famous British luxury carmaker, will open a new sales center in China at Tianjin next Thursday, which is the 11th one in China, according to a press release by Shanghai-based Zenith Integrated Communications Corp. (Zenith) Saturday at the auto show.Zenith is the public relations agent of Bentley in China. The automaker has sold 421 limousines to China in 2009, and the goal for 2010 is 777, the release said.

ATHENS, Oct. 3 (Xinhua) -- China and Greece issued a joint statement on Saturday, pledging to enhance their cooperation in various fields in an effort to deepen bilateral comprehensive strategic partnership.In a joint statement issued during the visit by Chinese Premier Wen Jiabao, the two countries expressed willingness to maintain frequent visits by leaders from both sides and enhance mutual political trust."The Greek government respects China's territorial integrity, reaffirms its adherence to the one China policy and supports the development of cross-Strait relations and China's reunification," the statement said.Both sides also agreed to promote the development of the China-EU comprehensive strategic partnership.Greece will continue to play a positive role in discussions within the EU over the recognition of China's full market economy status, which Athens believes is of great political significance, as China has made substantial progress on the issue within the framework of the World Trade Organization, said the statement.Hoping for a just, lasting and feasible solution to the Cyprus issue based on relevant UN resolutions, the two countries support the mediation efforts by UN Secretary General Ban Ki-moon.Greece is willing to cooperate with China in their joint fight against pirates and safeguard the international shipping, according to the statement. The two countries also agree to discuss the possibility of signing a Memorandum of Understanding on the issue.Both governments said they are ready to boost dialogue and cooperation to address climate change and make the upcoming UN climate change conference in Cancun, Mexico, achieve positive results.The two sides agree that the international financial crisis did not alter the long-term trend of world economic development. The global economy is gradually recovering but still with uncertainties."It is necessary for countries all round the world to strengthen coordination on their macro-economic policies to push forward a full-fledged recovery of the world economy," said the statement.