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BEIJING, April 6 (Xinhua) -- China's outstanding external debt reached 428.6 billion U.S.dollars by the end of 2009, up 14.4 percent from a year earlier, the State Administration of Foreign Exchange (SAFE) said here in a statement on its website Tuesday.The figure excluded Hong Kong Special Administrative Region (SAR), Macao SAR, and Taiwan.The country's registered foreign debt was equivalent to 266.95 billion U.S. dollars by the end of last year, up 2.5 percent from the 2008 level. Outstanding trade credits stood at 161.7 billion U.S.dollars, according to SAFE.China's foreign debt service ratio was 2.87 percent, while the foreign debt ratio and liability ratio stood at 32.15 percent and 8.73 percent, respectively, SAFE said.Mid- and long-term external debt, accounting for 39.52 percent of all outstanding foreign debt, totaled 169.39 billion U.S.dollars by 2009, most of which came from manufacturing and infrastructure construction in transportation, storage and postal services, it said.Short-term external debt rose 23 percent to 259.26 billion U.S.dollars year on year by the end of 2009, accounting for 60.48 percent of the total.New mid- and long-term debt in 2009 declined 38.18 percent to 22.45 billion U.S.dollars from a year earlier.China repaid principals for mid- and long-term loans of 34.19 billion U.S. dollars and 3.63 billion U.S. dollars in interest in 2009, up 46.78 percent and down 12.64 percent year on year, respectively, said SAFE.
BOAO, Hainan, April 11 (Xinhua) -- Competitions between China and India do not necessarily mean confrontation between the two neighboring Asian nations, Indian minister of state for environment and forests Jairam Ramesh said here Sunday."These two giants must cooperate, as the Chinese leaders say, in a harmonious manner," Ramesh said at the Boao Forum for Asia (BFA) annual conference which concluded Sunday in south China's island province of Hainan.Ramesh said both sides have to move forward and compromise.For example, he said cooperation between India and China in the United Nations climate change conference last December in Copenhagen could become a "trigger for deepening cooperation" between the two nations in all fields.At a panel discussion, Ramesh was asked whether the competition between the two nations was as fierce as what was described in The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us, a book written by American journalist Rogyn Meredith.

STOCKHOLM, April 30 (Xinhua) -- Sustainability expert, Professor Mohan Munasinghe who is also director general of Sustainable Consumption Institute at University of Manchester said China's development is more sustainable than the U.S. and Europe when they were in the similar development stage.In a recent interview with Xinhua in the Swedish capital city Stockholm, Munasinghe who was also Co-winner of the 2007 Nobel Prize for Peace as Vice Chairman of IPCC (Intergovernmental Panel on Climate Change) said sustainable development meant to balance the economic and social development with the damage of environment."What China proposes to develop harmonious society and especially to harmonize economic and social development and the environment is a way towards sustainable development," Munasinge said."China is more hopeful because stainability index shows that China's development is much more sustainable than the U.S. and Europe when they had similar development stage when per capita income was around 3,000 U.S. dollars he said."The second reason is that the discipline in eastern culture especially in China and Japan, you have a discipline to mix the social changes with economic development, you need a lot of discipline to bring about these changes," he said, adding that China's way of experiment in changes is very good."China often implements a pilot program and if it is good, it then promotes it in other areas and finally in the whole country and if you fail, then forget it and try new ways, this way you make the changes more beneficial than make it a total failure," commended Munasinge."China has the social capital that you make your society a consensus building society, this is Chinese social capital. Modernization sometimes is destroying very useful value systems, the value systems that survived from the ancient times are the sustainable values systems, for example, how to use less land and less water to farm and so on," he said.Munasinghe believes that due to Chinese culture and due to its development stage, China will be quicker to step into sustainable development track than that in developed countries because it is difficult to change their mindset and behavior.
YUSHU, Qinghai, April 25 (Xinhua) -- The death toll from a 7.1-magnitude earthquake in northwest China's Qinghai Province on April 24 has climbed to 2,203, the rescue headquarters said late Saturday.As of 5 p.m. Saturday, 73 people were still missing, the headquarters said.Civil affairs authorities in Qinghai also said Saturday they would raise the monthly allowance for orphaned children, widowed elderly and disabled people in the wake of the quake.Ma Danzhu, head of the disaster relief division under the provincial department of civil affairs, said the monthly allowance would be raised to 1,000 yuan (146 U.S. dollars) per person, from 600 yuan as normal standard, for three months.Families of the dead, including locals and migrant workers, also will receive 8,000 yuan in subsidies for each death, according to a policy announced earlier.
BEIJING, March 30 (Xinhua) -- Chinese auto maker Zhejiang Geely Holding Group is ready to inject 900 million U.S. dollars operating capital into Volvo on top of the 1.8 billion U.S. dollars purchase price, Geely chairman Li Shufu said Tuesday."We should not only inject money into Volvo, but also endeavor to improve Volvo's profit-making capability," Li said at a press conference to discuss the Volvo takeover.The Zhejiang-based Geely signed a deal with Ford Motor Co. Sunday in Sweden to acquire the U.S. auto giant's Volvo car unit.The photo taken on March 23, 2010 shows Volvo assembly plant in the suburbs of western Belgian city of Gent. China's Zhejiang Geely Holding Group signed a deal worth 1.8 billion U.S. dollars with Ford Motor Co. in Goteborg of Sweden on March 28, 2010 to acquire the U.S. auto giant's Volvo car unit"Geely is Geely, while Volvo is Volvo. Geely will not produce Volvo, and Volvo will not produce Geely," said Li, also the founder of the firm, adding that Volvo would keep its unique characteristics after the takeover.Li said Volvo's biggest problem was its small production scale and high research and development expenses, adding Volvo should try to increase production and sales to cut costs.
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