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NEW DELHI, Jan. 9 (Xinhua) -- Chinese ambassador to India Zhang Yan Monday proposed that China and India make more efforts to develop economic ties.At a meeting on China-India relations attended by Indian National Security Advisor S. Menon, the ambassador said the Chinese side is fully aware of the necessity to narrow the trade gap between the two sides in order to ensure the sustainability of bilateral trade cooperation."China will take measures to increase the import of Indian products which have market demand in China. But our cooperation should not be limited in trade only," said the ambassador.He suggested that China and India should diversify their trade structure, expand the scope and items, and increase the technical content and added value to the products, while expanding into financial, service and investment sectors.The envoy said China and India should initiate policy dialogue and coordinate their economic development strategy in order to ensure steady growth of respective economy, encourage mutual investments, consider the free trade agreement or regional trade arrangement, and increase tourism cooperation.Zhang said that as an encouraging sign of economic ties, the bilateral trade volume is set to hit 70 billion U.S. dollars in 2011, an over 20 percent increase over the previous years, while China set up its first branch of the Industrial and Commercial Bank of China in Mumbai last year.

VIENNA, Dec. 10 (Xinhua) -- China is one of the active supporters of the international community to European crisis settlement, Chinese Vice Foreign Minister Fu Ying said here on Saturday.Attending the fourth World Policy Conference, she voiced the hope that Europe could expand the mutually beneficial cooperation between Europe and China, and create a favorite condition for attracting investment from developing countries including China.In the afternoon, Fu attended a seminar with the topic of "Europe as a laboratory for global governance" and answered questions from the attendants.Asked if China and other BRICS countries should "rescue" Europe or not, she said that the word "rescue" often used by the European media could be misleading.She said that as the world's largest economy, the European Union (EU) has strong real economy and much higher living standard than developing countries. Europe does not need a "savior" but international partners with a win-win relationship.Currently, Europe is facing severe challenges such as the debt crisis and is actively seeking solutions. The EU is China's largest trading partner and one of the main sources of technology and investments. The settlement of crisis in Europe is closely related with not only the world but also China.China has been expressing its confidence in the European economy and the euro, believing that Europe is able to find out solutions to the problems, she said.She also pointed out that the current financial cooperation between Europe and China was mentioned in the same breath with the European financial expansion in Asia in the early 20th century by some European media, which was really a tale of a tub.China sticks to the foreign policy of promoting peace, development and cooperation, and has no intention to control European countries through financial tools, she said.Regarding to the role China played in the settlement of the current European debt crisis, Fu pointed out that China has been an active part of the international community supporting Europe to overcome its crisis.In addition to the cooperation in the financial sector, China also expands its imports, exploring ways to strengthen the investments in Europe and helping create jobs and restore economic growth, according to her.In her speech, she also said that in the process of industrialization, technological innovation, as well as in the fields such as green economy, Europe has always been a leading player in the world.After World War II, European countries learned from their mistakes and started the integration process to create lasting peace. The EU has been successful in maintaining regional peace and promoting economic prosperity. The governance experience in Europe is useful to other regions of the world.However, the European experience should not be completely copied by other regions due to their unique history and real situations.

SAN FRANCISCO, Nov. 17 (Xinhua) -- Online retail giant Amazon is working on a smartphone scheduled to be released in the fourth quarter of 2012, U.S. media reported Thursday.A note from Citigroup analyst Mark Mahaney obtained by technology news site All Things Digital said that based on the supply chain checks in Asia, Amazon is believed to launch a smartphone in the fourth quarter of 2012.According to the note, Amazon is working with manufacturer Foxconn and the device will run Texas Instruments' OMAP 4 processor. The Kindle Fire, the latest tablet introduced by the e- commerce giant, also uses OMAP processor.The analyst said the smartphone will cost Amazon between 150 and 170 U.S. dollars to build and the company could sell the handset at or near its cost rather than a 30 percent gross margin like many other smartphone manufacturers usually do.The move is expected to further intensify Amazon's rivalry with Apple and Google after the e-commerce giant had made moves on some booming businesses like tablet computer and cloud-computing service.