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SHANGHAI, Aug. 28 (Xinhua) -- Baosteel Group, China's largest steel maker, said Friday it has agreed to pay 285.6 million Australian dollars (240.7 million U.S. dollars) for a 15-percent stake in Australian miner Aquila Resources.     Baosteel will buy up to 43.95 million shares in Aquila at 6.5 Australian dollars a share.     The deal, which will make Baosteel the second-biggest shareholder in Aquila, is still to get approval from Australian and Chinese regulators.     The company executives valued the growth potential of Aquila's assets in the deal that is another major step in its overseas expansion, said a statement on Baosteel's website.     Baosteel established a joint venture with iron ore giant Rio Tinto in 2001 and Companhia Vale do Rio Doce (CVRD) in 2002 to secure iron ore imports.     In a press release, Aquila said the deal was "an important transaction in Baosteel's strategy to secure long-term supply of critical steel raw materials."     The strategic cooperation will "fast-track the development of Aquila's key steel raw materials projects including iron ore, coal, and manganese," said the statement.     Baosteel would possibly make further direct investment into a number of its projects and help it get low-cost financing from China for most of its major projects, including the strategic West Pilbara Iron Ore Project, said the Aquila statement.     It added that the state-owned Chinese steel mill had agreed not to hold more than 19.99 percent of Aquila before August 2010.     Shares in Aquila surged 9.16 percent, or 60 Australian cents, to 7.15 Australian dollars Friday.

BEIJING, July 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for efforts to intensify energy conservation, emission reduction and environmental protection to ensure clean, safe and sustainable development.     Li made the comment at a meeting in Beijing on Tuesday, urging efforts on development of green industry and sustainable economy.     He said environmental protection should be strengthened as the environmental problems in China are still severe, such as the water, air and soil pollution.     Li said China's economy is still at a critical moment as it begins to recover steadily. It is also a crucial time for its economic structure adjustment, he added.     He said the government should maintain sustainable and stable macroeconomic policies

BEIJING, Oct. 11 (Xinhua) -- China honored a common officer, who devoted himself to his work as a file clerk at the military archives, at a ceremony held here Sunday.     Liu Yiquan had worked as a clerk and then a consultant at the archives of the People's Liberation Army (PLA) for about 38 years. He had processed more than 830,000 pieces of military archives. Li Changchun (R), member of the Standing Committee of the Political Bureau of the Communist Party of China's Central Committee, shakes hands with Liu Yiquan's wife during Liu Yiquan's factual report held at the Great Hall of the People in Beijing, China, Oct. 11, 2009. Liu continued working hard like other healthy colleagues even after being diagnosed having cancer in 2008. He had been hospitalized in June.     In a written instruction, Chinese President Hu Jintao called on file clerks nationwide to learn from him. Li Changchun (C front row), member of the Standing Committee of the Political Bureau of the Communist Party of China's Central Committee, poses for photos with Liu Yiquan's reporters during Liu Yiquan's factual report held in Beijing, China, Oct. 11, 2009Liu is a role model for today's communists and military officers, said Li Changchun, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, at the ceremony.     In the past 38 years, Liu fully devoted himself to the work and made great contribution though working at an ordinary position, Li said. "We should learn from his firm faith, determination, devotion and optimism."

BEIJING, Oct. 6 (Xinhua) -- China's new yuan-dominated loans in September was expected to reach 300-400 billion yuan (44-59 billion U.S. dollars), China Securities Journal reported on its website Tuesday.     The figure was less than that of August, which hit 410.4 billion yuan.     Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), provided the figure during an International Monetary Fund (IMF) conference held in Istanbul, Turkey on Monday.     New loans in the first eight months stood at 8.15 trillion yuan, far exceeding the full-year target of five trillion yuan, according to he People's Bank of China, the central bank, this September.     The CBRC reiterated in September that domestic lenders should seek to enhance their risk management and stick to regulatory requirements to reduce worries over financial risks caused by rapid credit growth this year.     China began to adopt a moderately easy monetary policy in last November in a bid to maintain economic development amid the financial crisis.

BEIJING, Oct. 5 (Xinhua) -- The Emerging Markets magazine has named China's Finance Minister Xie Xuren as Finance Minister of the Year, Asia 2009, the Ministry of Finance said Monday at its website.     The Emerging Markets believes that China's quick and proactive fiscal policies implemented in the past year have boosted economic growth and made contributions to global economic recovery, the ministry said.     In a written interview with the magazine, Xie said since the outbreak of the global financial crisis last year, the Chinese government timely and resolutely adjusted its macro-economic polices, carried out proactive fiscal and moderately easy monetary policies, and approved plans aiming to spur domestic consumption. China's Finance Minister Xie Xuren (L) meets with World Bank Group President Robert B. Zoellick ahead of the World Bank Group and the International Monetary Fund (IMF) annual meetings in Istanbul, Turkey, Oct. 5, 2009. The 2009 Annual Meetings of the World Bank Group and the IMF are scheduled to be held in Istanbul on Oct. 6 and 7.     China's gross domestic product grew 7.1 percent in the first half of this year, which proved those policies were effective, said Xie.     He told the magazine that an overall recovery in the global economy would be slow with twists and turns, and that China's economic recovery was still unstable and imbalanced.     But China would stick to the proactive fiscal and moderately easy monetary policies, while focusing on the longer-term development and economic restructuring, he said.     Emerging Markets is part of Euro money Institutional Investor plc. It provides a broad range of news, features, analysis for investors, bankers, brokers working in the developing world.