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ROME, May 21 (Xinhua) -- China's top legislator Wu Bangguo met with Italian President Giorgio Napolitano here on Thursday afternoon, and the two leaders exchanged views on how to address the current global financial crisis. Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top Chinese legislature, said China is positive about the results of the London G20 summit and appreciates the efficient efforts that Italy has made in preparation for the dialogue meeting between the leaders of G20 countries and five major developing countries (8+5 dialogue). Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, talks with Italian President Giorgio Napolitano in Rome, May 21, 2009. Wu emphasized that against the background that the financial crisis continues to spread in the world, the international community should strengthen cooperation by implementing the consensus of the G20 summit, curbing the slide of economy and opposing protectionism. In the meantime, the international community should push forward reform of the international financial system and establish a new order of world economy. Napolitano agreed with Wu's comment, saying that the global impact of financial crisis proved the increasingly close links among different economies. He said global challenges call for a globalized resolution. Italy is ready to strengthen cooperation with China and other developing countries at the 8+5 dialogue. Napolitano stressed that Italy will join hands with China to firmly oppose trade protectionism and address the international financial crisis. On China-EU relations, Wu said a strong Europe and a developing China share broad common interest and can contribute to world peace and development. He said China supports the integration process of the European Union, adding that the EU should play an active role in regional and international affairs. Wu said China places great importance on developing relations with the EU. He expressed the wish to deepen practical cooperation in all fields and expand trade and investment. He said the two sides should carry out dialogues and communication on major issues on the basis of mutual respect of sovereignty and non-interference in each other's internal affairs. Napolitano said as an important member of the EU, Italy is ready to play a constructive role in the regional bloc and help push for a healthy, stable development of EU-China relations. Napolitano said China's development will not only benefit the Chinese people, but also contribute to peace and development of the world. Wu said that China is still a developing country, with its per capita GDP ranking below 100th place in the world. He said China will continue to focus on development by working on economic restructuring and industry upgrading. China has adopted composite measures to address both current difficulties and long-term need so as to achieve all-round, balanced and sustainable development. Wu is on an official goodwill visit to Italy.
SHENYANG, June 27 (Xinhua) -- China's steel giant, Ansteel, had got government approval to increase its stake in Australian iron ore explorer Gindalbie Metals, a spokesman with Ansteel said Saturday. The approval came Tuesday, allowing the Anshan Iron and Steel Group (Ansteel) in northeast China's Liaoning Province to increase its interest in Gindalbie from 12.6 percent to 36.28 percent to become its biggest shareholder, according to the spokesman of Ansteel. The purchase will be finished within a week. Then the two sides will invest a 534-million-Australian dollar in Karara iron ore project in western Australia, with a 50-50 ownership. Gindalbie proposed Ansteel buy more of its shares in August last year. The application was approved by the board of Gindalbie early February.

BEIJING, April 27 -- The yuan will remain stable against the U.S. dollar as China will take a cautious and stable position in its foreign exchange investment. The Chinese currency gained against the US dollar in the past week and ended at 6.8273 last Friday, according to the China Foreign Exchange Trade System. The yuan closed at 6.8311 by the end of the previous week. China will continue its policy of diversifying its huge amount of foreign exchange reserves, the currency regulator said last Friday. Hu Xiaolian, head of the State Administration of Foreign Exchange, told Xinhua news agency that it will stick to major currencies and high-quality assets in its foreign exchange investments. China's overseas earnings hit 82.5 billion U.S. dollars in the past year, an 8-percent rise from a year earlier, according to data released by the administration last Friday. Hu also noted the positive outlook of China's economy has lessened concerns over a depreciation in the yuan.
BEIJING, July 10 (Xinhua) -- China's Ministry of Finance (MOF) announced Friday that it will launch two more batches of electronic savings bonds of up to 50 billion yuan (7.32 billion U.S. dollars) since next week. According to the ministry, one batch of the e-savings bonds of 40 billion yuan has a term of three years, with a fixed annual interest rate of 3.73 percent. The other, the five-year e-savings bonds, is worth 10 billion yuan at a fixed annual interest rate of four percent. The two bonds will be issued from July 15 to 31, with interests to be calculated from July 15 and paid annually, said the ministry in a statement on its website. These bonds are open to only individual investors, the MOF said. Compared with other types of bonds, the e-savings bond is seen as more convenient for investors. For example, the interest can bepaid through direct deposit into the investor's account. This is the second time the ministry launches this kind of bond this year, with the first issuance of two batches of e-savings bonds in April. The ministry also said it would issue two batches of book-entry treasury bonds next week with a face value of 12.48 billion yuan and 12.65 billion yuan each. One with the face value of 12.48 billion yuan has a term of 91 days, and the issue price, set by competitive bidding, was 99.72 yuan for a face value of 100 yuan. In this sense, the annual yield will be 1.15 percent, the ministry said. The other has a term of 273 days, and the issue price was set at 99.077 yuan for 100 yuan, with an annual yield of 1.25 percent. The ministry said the book-entry T-bonds will be sold from July 13 to July 15. Trading of the bonds will begin July 17.
BEIJING, June 23 (Xinhua) -- State President and Communist Party of China (CPC) Central Committee General Secretary Hu Jintao urged all Chinese people Tuesday to remember and study the morals and demeandour of former state president Li Xiannian (1909-1992). Li won respect and love from the CPC, People's Liberation Army and people for his contribution to China's independence and the Chinese people's emancipation, China's socialist revolution, construction, reform and opening-up drive, and the building of the country into a modernized socialist nation that is prosperous, powerful, democratic and civilized, Hu said at a memorial meeting to mark Li's 100th birthday. Chinese President and Communist Party of China (CPC) Central Committee General Secretary Hu Jintao speaks at a memorial meeting to mark the 100th birthday of former state president Li Xiannian (1909-1992), in Beijing, China, June 23, 2009.Hu called Li a "great proletarian revolutionary, statesman, strategist and a staunch Marxist and outstanding Party and State leader." Other state and CPC leaders attending the memorial service included Wu Bangguo, Wen Jiabao, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang, and Zhou Yongkang. Jia presided over the gathering. Hu spoke highly of Li's prominent role in different periods of the CPC-led Chinese revolution, including the armed revolution of the 1920s-40s, the early development of New China in the 1950s-70s,and the epochal reform and opening-up drive launched in the late 1970s. Li was born into a poor peasant family on June 23, 1909, in Huang'an, Hubei Province, central China. He took part in the CPC-led Peasants' Movement and joined the Party in the 1920s. In 1927, Li led a group of peasants to join in the Huangma Uprising. Later, he became a member of the CPC-led Chinese Workers' and Peasants' Red Army and played an important role in strategic battles and maneuvers of the Red Army. During the Long March, Li supported Zhu De and other senior leaders in resolute struggle against the splittist activities of Zhang Guotao. In China's War of Resistance Against Japanese Aggression (1937-45) and the Liberation War (1946-49) against the Kuomintang Regime, Li became a ranking officer in the CPC-led armed forces and fought a large number of major battles and established several revolutionary bases. After 1949, the year the People's Republic of China was founded, Li served as vice premier for 26 years and played a big role in managing the economy. He was wrongly criticized and persecuted during the Cultural Revolution (1966-1976). Starting in the late 1970s, as a core member of the second-generation of CPC leadership headed by Deng Xiaoping, Li assisted Deng in ushering in and carrying on the reform and opening-up drive. In his final years in service, Li held top-level Party and state roles, including vice chairman of the CPC Central Committee, a Standing Committee member of the Political bureau of the CPC Central Committee, state president, and chairman of the National Committee of the Chinese People's Political Consultative Conference.
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