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JINAN, Dec. 21 (Xinhua) -- China and the Republic of Korea (ROK)Tuesday launched a joint land and sea transport services in a bid to cut logistics costs and boost trade.Semi-trailers loaded with cargo can now be shipped between Qingdao, Rizhao, Yantai, Weihai, Longyan and Shidao in the eastern Chinese province of Shandong and Incheon, Pyungtack and Kunsan in the ROK.The service can cut transport time by 3.5 hours and reduce costs by 50 U.S. dollars per container, as trailers can be driven directly to customers without unloading and loading, according to the ROK's Transport Research Institute.The service is expected to boost the shipments of fresh vegetables, live fish and other fragile products such as glass and electronics.Gao Hongtao, deputy director of the Shandong Provincial Transportation Bureau, said that with continuous oxygen charging and temperature control, the service can increase by 10 percent the survival rate of live fish exported from Weihai to the ROK.The two countries would later allow trucks to be shipped, according to an agreement they signed in September. The ports might also later include locations such as northeast China's Liaoning Province, according to Ju Chengzhi, director of the international cooperation department with China's Ministry of Transport.This year marks the 20th year since the launching of cargo, passenger and container sea transport services between China and the ROK. China has become the ROK's largest trading partner, both as its largest importer and exporter.

BEIJING, Dec. 18 (Xinhua) -- China's official Xinhua News Agency on Saturday formally launched its financial information exchange, an information sharing platform in the financial and cultural sectors to promote development of the nation's capital market.Approved by the People's Bank of China, or the central bank, it is the world's first financial information exchange.It is funded by and registered with the China Finance Corporation (CFC), owned by Xinhua.Located in the Lize business district in the southwest of downtown Beijing, the exchange has the world's largest LCD panel groups at 7,593 inches, which show real-time information in the finance and cultural industries.Member users can also get the latest information on technology transfers and business consultations.The exchange would improve Xinhua's presence and influence in the global financial information sector and enhance China's soft power in the international capital markets, said Xinhua president Li Congjun at the inauguration ceremony."It aims to be a fair, just, professional and highly efficient intermediary service platform in the financial information and cultural sectors to promote information sharing among the cultural sector, industries and the capital markets," he said."The ultimate goal is to become the world's most influential financial information and cultural industry service center."

CAPE TOWN, South Africa, Nov. 17 (Xinhua) -- Chinese Vice President Xi Jinping held talks with South African President Jacob Zuma here on Wednesday, calling for all-round cooperation and richer content of the comprehensive strategic partnership and strengthened coordination in international policies.During the talks, Xi first conveyed the warm greetings from Chinese President Hu Jintao to South African President Zuma.Xi hailed the Beijing Declaration on the Establishment of Comprehensive Strategic Partnership signed by the leaders of the two countries during Zuma's visit to China in August this year, saying that it has lifted China-South Africa relations to a new high and will guide the bilateral relations in the new era.Xi, who arrived here on Tuesday for a four-day official visit to South Africa, said the main purpose of his visit is to co-host with South African Deputy President Kgalema Motlanthe the fourth plenary session of the China-South Africa Bi-National Commission (BNC).Xi said this plenary session marks a significant step in fulfilling the goals proposed by the two sides in the Beijing Declaration and BNC serves as an important platform to push forward bilateral cooperation in all areas and further implement the consensuses reached by the leaders of the two countries.He said China is willing to work together with South Africa to promote the all-round cooperation, hoping that the two sides will continue to maintain closer high-level political contacts, and further deepen pragmatic cooperation especially in the areas such as trade, economy, agricultural technology and professional training.China wishes to strengthen close coordination in key international issues with South Africa, said Xi. China would also like to coordinate with BASIC countries on occasions of the United Nations such as in the forthcoming climate change conference to be held in Cancun, Mexico.Xi noted that China is to strengthen communication and cooperation with South Africa within the framework of the China- Africa Cooperation Forum so as to realize peace and development in the African continent.Xi also introduced the basic content and China's experience in formulating the 12th Five-year Plan (2011-2015).For his part, Zuma spoke highly of China's role in international affairs, saying that the South Africa-China relations are strategic.South Africa hopes that the Chinese friends will play an active role in South Africa's newly-launched New Economic Growth Path including the key projects in infrastructure construction of the African continent, said Zuma.Also on Wednesday, Xi met with Speaker of South African National Assembly Max Sisulu.

MOHE, Heilongjiang, Jan. 1 (Xinhua) -- An oil pipeline linking Russia's far east and northeast China began operating Saturday.At 11:50 a.m., Yao Wei, general manager of the Pipeline Branch of Petro China Co., Ltd. (PBPC), pushed a button in the China-Russia border county of Mohe, Heilongjiang Province, five hours after the crude oil began being pumped through the pipeline to the border, marking the official start of operations after a two-month trial.PBPC is the operator of the Chinese section of the pipeline.The pipeline, which originates in the Russian town of Skovorodino in the far-eastern Amur region, enters China via Mohe and ends at China's northeastern city of Daqing. As 550,000 tonnes of crude oil had already traveled through the pipeline during the test run period, the Daqing terminal receives the oil 15 minutes after Yao pushed the button at Mohe."The operation of the China-Russia crude oil pipeline is the start of a new phase in China-Russia energy cooperation," Yao said at the launching ceremony.He noted that the pipeline would improve the nation's energy-imports structure and promote economic development.Sergey Tsyplakov, Russian trade representative in China, also said in early December that the completion of the pipeline project was a "milestone" for the development of both countries.Construction of the 1,000-km-long pipeline project, with 72 km within Russia and 927 km in China, started last year, and it will transport 15 million tonnes of crude oil from Russia to China annually between 2011 to 2030, according to the agreement signed between the two countries.This volume of oil means adding 8 billion U.S. dollars to the trade volume between China and Russia, and the import tariffs for China on the oil will be up to 10 billion yuan (1.5 billion U.S. dollars), according to the projection by Chinese customs officials based on the current international crude oil price.Yao said that after the oil arrives at Daqing's Linyuan Station it will enter the Pipeline Networks of Northeast China and be pumped to oil refineries in Dalian, Fushun and other cities.Luo Xuefeng, director with the entry-exit inspection and quarantine bureau of Mohe, said workers with the bureau would take daily oil samples to monitor the quality of the oil."So far, the pumped oil is qualified as regulated in the agreement," Luo said.The annual amount of oil shipped through the pipeline could increase, depending on the drilling capacity in Russia, said Tsyplakov.Further, Li Fuchuan, a researcher with the Chinese Academy of Social Sciences, said the operation of the oil pipeline would not only increase the crude trade, but also improve mutual trust between China and Russia, laying an economic foundation for the two countries' strategic partnership.Zhang Shibin, deputy manager of the PBPC Daqing branch, said although the operation has worked well during the trial period, measures need to be performed to prevent pipes from cracking in May."The pipe will face an 'important test' in May as snow and ice will melt at that time, bringing challenges to us. We will try to ensure its smooth operation," he said.

BEIJING, Jan. 12 (Xinhua) -- The Chinese government welcomes and supports the activities of overseas non-governmental organizations (NGO) in the country, said Assistant Foreign Minister Cheng Guoping here on Wednesday.Addressing a new year reception held by the Chinese Foreign Ministry for NGOs, Cheng appreciated the contribution of overseas NGOs in promoting China's economic and social development, as well as the country's exchanges with the world.He also hopes overseas NGOs to enhance understanding about China's national conditions, and abide by China's laws and regulations.About 130 representatives from overseas NGOs, foreign embassies in China and academic organizations, as well as Chinese officials from relevant departments joined the reception, the first held by the Foreign Ministry for NGOs.