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BEIJING, April 13 (Xinhua) -- The State Council, China's Cabinet, released here Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.According to the regulations, the State Council said China will continue to support Chinese A-share listed companies in further introducing strategic investors from home and abroad, and standardize foreign companies' investment in domestic securities and corporate merger and acquisition moves.A national security examination mechanism will be built as soon as possible for foreign-funded companies' merger and acquisition operation in China, according to the regulations.Qualified foreign-funded companies are allowed to go public, issue corporate bonds or medium-term bills in China.Multinationals are encouraged by the regulations to set up regional headquarters, research and development centers, procurement hubs, financial management and other functional offices in China.Importing items for scientific and technological development by qualified foreign-funded R&D centers will be exempt from tariffs, importing value added tax and goods and services tax by the end of 2010, according to the regulations.Foreign-funded enterprises are also encouraged to increase their investment in China's central and western regions, particularly in environment friendly and labor-intensive companies.

MANILA, June 4 (Xinhua) -- Philippine President Gloria Macapagal Arroyo lauded bilateral friendship at a ceremony held here Friday to mark the 35th anniversary of the establishment of Chinese-Philippine diplomatic relations.Arroyo said "When I became President, I made June 9 every year Filipino-Chinese Friendship Day. In the past, I set aside June 9 to attend activities to my Filipino-Chinese Friendship Day in Manila. But this year, many of you will be with me in Shanghai to celebrate this occasion."She said, "Our geographical ties, our trade relationship, our family relationship dates back centuries before our diplomatic relations and even before our two republics were established." "We are family, China and the Philippines are family." "We are family, more than neighbors.""During my visits to China over the last nine years, I had the privilege of visiting many cities all over China, and was greeted with the highest-ranking officials, including President Hu Jintao, Premier Wen Jiabao, and former President Jiang Zemin," she said.Philippine President Gloria Macapagal Arroyo receives a gift at the soiree celebrating the 35th anniversary of diplomatic ties between the Philippines and China, in Manila, capital of the Philippines, June 4, 2010. China is now our third largest trading partner. China is also one of the fast growing sources of tourists for the Philippines. The Filipino businessmen have almost invested 3 billions U.S. dollars in China. Likewise, Chinese investments in the Philippines have also grown in the past decades.She also said "I may not be President next month, next year, and the years to come, but as congresswoman...Let me assure you that I remain committed as ever to promoting and further strengthening a solid partnership between our two countries."Chinese ambassador to the Philippines Liu Jianchao said, "More than 35 years ago, our two countries were still overshadowed by zero-sum Cold-War mentality. Today, exchanges and mutual understanding at all levels have reached breath and depth never seen before.He added that 35 years ago, China-Philippines trade volume was lingering around 72 million U.S. dollars. The figure spiked to a record-high at 30 billion U.S. dollars in 2007 and registered a quarter-on-quarter increase of more than 50 percent during the first three months of this year.The numerous exchange visits of artists, writers, journalists, teachers, performers and sportsmen between our two countries have fostered deeper understanding of our ways of life as well as friendship between the Chinese and Filipino peoples. Only through friendship and mutual respect, through understanding and acceptance of common and contrasting characteristics, can nations truly live in an atmosphere of amity and harmony.Alfons A. Uy, president of Federation of Filipino-Chinese Chambers of Commerce, said Chinese-Filipino partnership flourished and grew stronger with the signing of the Joint Communique establishing diplomatic relations between China and the Philippines in 1975."We will also continue to lead the Chinese-Filipino community in undertaking projects that would promote national growth and development," he said.The ceremony was jointly organized by the Federations of Filipino-Chinese Chambers of Commerce and Industry and other Chinese organs to mark the 112th Philippine Independence Day, the 35th anniversary of the Establishment of Diplomatic Relations between China and the Philippines and the 9th Filipino-Chinese Friendship Day.

BEIJING, May 10 (Xinhua) -- China's Health Ministry on Monday vowed to ban smoking in all its offices in four months, part of an arduous campaign to curb public smoking around the country.Yang Qing, director with the ministry's community health department, told reporters that hospitals, clinics and other medical institutes nationwide should follow suit to impose strict smoking ban by 2011."No Smoking" signs will be placed in the ministry's conference rooms, lavatories, car parks and stairways while a designated smoking area will be set up outside the office building, the official said.He said the ministry also bans its employees from giving tobacco as gifts -- a rooted tradition in China's office culture. Employees who break the ban will be punished, while those who quit smoking in a year can expect cash rewards.Though Yang did not elaborate how hospitals and clinics under the ministry's supervision should go tobacco-free, it is widely believed that similar policies will be imposed soon among the country's medical institutes.Data from the ministry show China has more than 350 million smokers, mostly men influenced by a macho culture. Doctors with smoking habit have become a prime target of China's tobacco control campaign.Yang said smoking should be banned in all public venues, workplaces and public transport vehicles by 2011, according to the World Health Organization Framework Convention on Tobacco Control, which took effect in 2005.It was signed by the Chinese government in 2003 and ratified by the country's top legislature in 2005. National and local governments ramped up anti-smoking campaigns in recent years, but these were not effective as expected because no strict laws are in place, observers said.Yang said the ministry is now coordinating with the country's lawmakers to push for such legislation.

BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.

BEIJING, May 7 (Xinhua) -- Li Changchun, a leader of the Communist Party of China (CPC), watched Friday evening an opera of the Democratic People's Republic of Korea (DPRK) which was adapted from the Chinese classic A Dream of Red Mansions.The DPRK Phibada Opera Troupe staged in Beijing the adaptation of the masterpiece by Cao Xueqin, a novelist in the 18th century. The opera is scheduled to premiere in Beijing from Thursday to Sunday before starting a tour in other cities of China.Li, member of the Political Bureau Standing Committee of the CPC Central Committee, praised the brilliant performance of the DPRK artists, saying the opera show will contribute to friendship between the two countries.   Li Changchun (3rd R front), member of the Political Bureau Standing Committee of the Communist Party of China (CPC) Central Committee, watches an opera of the Democratic People's Republic of Korea (DPRK) which was adapted from the Chinese classic A Dream of Red Mansions in Beijing, May 7, 2010Under the instruction of late DPRK leader Kim Il Sung, the DPRK artists adapted the Chinese story in the 1960s. DPRK top leader Kim Jong Il instructed that the opera be further improved and put on stage as a major event for the China-DPRK Friendship Year in 2009.The DPRK opera's debut in China coincides with Kim Jong Il's unofficial visit to the China from May 3 to 7.