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SHANGHAI, Oct. 30 (Xinhua) -- China said it would continue close cooperation with the United Nations as Ban Ki-moon, the UN Secretary-General, visited Shanghai Saturday.In talks with Ban Saturday night, Chinese Foreign Minister Yang Jiechi applauded UN' s important role in world affairs and expressed China's support to and participation in the organization's work."China stands ready to maintain close coordination and cooperation with the UN. We will give the organization and the Secretary-General strong support," Yang told Ban.The UN chief thanked China's backing to the UN and himself and expressed willingness to further cooperation with China.Congratulating China on the success of the World Expo, Ban said he had a "most impressive" day in Shanghai Saturday by seeing the "biggest expo" in his life.Ban visited pavilions including the UN, China, Republic of Korea and the Democratic People's Republic of Korea. He will attend the World Expo closing ceremony and opening ceremony of World Expo Summit Forum slated for Sunday.Yang and Ban also exchanged views on Millennium Development Goals (MDG), climate change and other international and regional affairs.

CAIRO, Sept. 26 (Xinhua) -- Chinese and Egyptian industry officials vowed closer bilateral economic ties on Sunday with the signing of an industrial cooperation agreement.Egyptian Minister of Trade and Industry Rachid Mohamed Rachid met with Chinese Minister of Industry and Information Technology Li Yizhong. Both talked about the expansion and improvement of bilateral trade and economic cooperation.Rachid told reporters that he hoped the new agreement would pave the way for more cooperation in different industry sectors including manufacturing of cars components, textiles, petrochemicals, electronics and technology."This agreement includes the process of sharing technology and increasing investment in the industrial sector and training of workers as well as helping Egyptian companies promote their products in the Chinese markets," said the Egyptian minister.The agreement also included the formation of an Egyptian- Chinese task force that takes the responsibility of sharing information and experiments in the industrial sectors and encouraging Egyptian and Chinese firms to establish joint ventures in different areas of cooperation, according to Rachid.Rachid said that Egypt wanted to benefit from the successful Chinese experience in the industrial sector.Egyptian Prime Minister Ahmed Nazif also met with the Chinese minister. The prime minister said Egypt shows great interest in boosting cooperation with China.The bilateral trade between Egypt and China increased from 3 billion U.S. dollars in 2006 to 6.24 billion dollars in 2008, according to Chinese Ambassador to Egypt Wu Chunhua.By the end of last year, Chinese investment in Egypt exceeded 500 million U.S. dollars. Chinese auto companies such as Chery Automobile and Brilliance Automobile have had assembly lines here in Egypt.Rachid expected that the Egyptian-Chinese cooperation would witness a great milestone in all sectors, particularly the trade and industry relations thanks to exchanges in the economic and political levels.

TAIPEI, Sept. 11 (Xinhua) -- Financial organizations from the Chinese mainland and Taiwan have stepped up cooperation to take advantage of business opportunities brought by a landmark cross-Strait economic pact, the Economic Cooperation Framework Agreement (ECFA).The board of directors of Taiwan-based Taishin Financial Holdings decided on Sept. 9 to sign a cooperation agreement with mainland-based Nanjing Zijin Investment Co., a move hailed by the company as "the first step to enter the mainland."The agreement aims to promote exchanges and cooperation between the two companies and their subsidiaries, while Nanjing Zijin will ease the way for Taishin's new operations on the mainland, Taishin said.The company's Taishin Bank is also planning to set up an office in Nanjing, capital of east China's Jiangsu Province.Prior to this, China Huarong Asset Management Corporation (CHAMC) and Taiwan-based SinoPac Holdings signed an agreement in Beijing on Sept. 3 to begin a new strategic cooperation. According to the agreement, the two sides will cooperate in personnel training, exchange of management experiences and information, as well as in research, development of new products and new business models.Huarong President Lai Xiaomin said the ECFA would promote a quickening flow of economic resources across the Taiwan Strait, including the movement of personnel, materials, capital and information."The ECFA will bring great business opportunities for cross-Strait economic development and boost cooperation between financial institutions on both sides, thus bringing new development opportunities for financial industries across the Strait," he said.The ECFA, which is to take effect on Sunday, was signed by negotiators from the mainland and Taiwan in June, and aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation.Wang Jianmin, a researcher of the Institute of Taiwan Studies of the Chinese Academy of Social Sciences, said substantial financial cooperation between the two sides has lagged behind trade cooperation for a long time."The ECFA, however, will have a positive impact," he said.The banking service sectors might be among the first to make breakthroughs in cross-Strait financial cooperation.The mainland-based Bank of China and Bank of Communications applied to the Taiwan economic department on Sept. 7 to set up representative offices in Taiwan.According to the ECFA, mainland banks can set up representative offices in Taiwan upon approval by the Taiwan authority and can then apply to set up a branch bank one year after the establishment of representative offices on the island.

BEIJING, Aug. 27 (Xinhua) -- China's top legislature held an inquiry Friday into the government's report on grain safety in an effort to improve the legislative supervisory role.Entrusted by the State Council, or China's Cabinet, senior officials from nine government agencies, such as the National Development and Reform Commission (NDRC), attended the inquiry to answer questions raised by lawmakers at a bimonthly session of the Standing Committee of the National People's Congress (NPC), the country's top legislature.Such inquiries are believed to be a concrete and important step for the top legislature to exercise and improve supervision of the government.Zhang Ping, minister in charge of China's top economic planning body, the NDRC, issued the report on the country's grain safety on Thursday and lawmakers began to deliberate and make inquiries on the report on Friday.This is the second inquiry held by the top legislature this year. In its June session, lawmakers held an inquiry into the central government's final accounting for 2009.INTENSE Q&A SESSIONThe NPC Standing Committee's vice chairwoman, Oyunqemag, and 21 other lawmakers peppered government officials with more than 20 questions at the inquiry.Responding to a question on the impact of frequent natural disasters including drought, freezing weather and floods on this year's harvest, Vice Agriculture Minister Chen Xiaohua admitted that grain production has been negatively impacted.Chen, however, said because the central authority introduced preferential policies in a timely manner, the grain crops harvested in the summer maintained the same level as in previous years, though the harvest of early rice dropped a bit.He also said he was optimistic about the harvest in autumn, which accounts for more than 70 percent of the country's grain output because the seeded area has been increased and the growth of the crops was good at present.

BEIJING, Sept. 21 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 113 basis points, or 0.17 percent, Tuesday to a new record high at 6.6997 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.Tuesday's yuan central parity against U.S. dollar beat the previous record of 6.7110 per U.S. dollar on Monday and extended the Chinese currency's gains to eight consecutive trading days.The yuan has picked up its strength against the U.S. dollars and seen increased volatility in the trading days since the People's Bank of China (PBOC), the central bank, announced on June 19 this year to increase exchange rate flexibility.Based on Tuesday's central parity, the Chinese currency has strengthened against the U.S. dollar by 1.87 percent from the rate of 6.8275 per U.S. dollar that was set a day before the PBOC's pledge to increase flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate during trading each day.According to Tuesday's central parity rates, the yuan's value strengthened against all the currencies within its basket with lower rates.The PBOC released the yuan's central parity rates against a basket of currencies -- the U.S. dollar, the euro, the Japanese yen, the Hong Kong dollar, the British pound and the Malaysian Ringgit.The yuan's parity rate against the euro was set by the central bank at 8.7522 Tuesday, lower from 8.7595 Monday.The yuan's rate against 100 yen was 7.8204 Tuesday, compared with 7.8275 Monday.The Chinese currency soared 814 basis points against the British pound with the central parity rate being set at 10.42 from Monday's 10.5014.The central parity of RMB against the U.S. dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.The central parity of RMB against the other five currencies is based on the central rate of RMB against the U.S. dollar of the same business day as well as the exchange rates of the five currencies against the U.S. dollar at 9 a.m. (0100 GMT) of the same business day in the international foreign exchange market.