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WASHINGTON, Sept. 9 (Xinhua) -- Visiting top Chinese legislator Wu Bangguo met U.S. House of Representatives Speaker Nancy Pelosi on Wednesday to exchange views on bilateral ties as well as international and regional issues of common concern.     Speaking to reporters before their talks, Wu, chairman of the Standing Committee of China's National People's Congress, said he was pleased to visit the United States at the invitation of Speaker Pelosi, noting that the visit was the first by a top Chinese legislator over the past 20 years.     "The purpose of my visit is intended to promote further growth of China-U.S. relations," Wu said, describing the relationship as one of the most important, dynamic and promising bilateral ties in the world.     He expressed the belief that his U.S. trip will inject new impetus to the growth of China-U.S. relations. Wu Bangguo (3rd L), chairman of the Standing Committee of China's National People's Congress, and U.S. House of Representatives Speaker Nancy Pelosi (2nd L) look at a Chinese painting which Wu presents to Pelosi, before their meeting in Washington, the United States, Sept. 9, 2009Pelosi, for her part, recalled her visit to China in May. "When I was in China, I had the opportunity to see so much China has done to address global climate change. It's an important issue of our visit."     "Clearly we can learn a great deal from what China has done. Hopefully, we can learn from each other," she said.     On the occasion of Chairman Wu's visit, she said, both sides will discuss climate change as well as other issues, such as the global economic crisis.     Pelosi said it is important for China and the United States to come to some kind of understanding on the subject of climate change.     "Our countries are great, significant and large, their decisions would affect the whole world," the speaker said. "The U.S.-China relationship is very important one, economically, politically, culturally and environmentally, to both our countries and to the world," she added.     Apart from Pelosi, Wu is also expected to meet U.S. President Barack Obama, Vice President Joe Biden and Secretary of State Hillary Clinton during his stay in Washington.     Wu is here on a week-long official goodwill visit to the United States, the final leg of his three-nation America tour which also took him to Cuba and the Bahamas. Wu Bangguo (2nd R), chairman of the Standing Committee of China's National People's Congress, talks with U.S. House of Representatives Speaker Nancy Pelosi (1st L) in Washington, the United States, Sept. 9, 2009

URUMQI, July 22 (Xinhua) -- A key expressway in northwest China's Xinjiang Uygur Autonomous Region began construction on Wednesday in a move to improve the region's road network and serve its economic development.     The 135-km expressway will link Kuytun City to Karamay City. The project, funded by the central government and Xinjiang regional government, will cost 3.87 billion yuan (about 567 million U.S. dollars).     The road is bidirectional with four lanes. It will be completed and put into use in November 2011.     Dai Gongxing, vice chairman of the Xinjiang regional government, said at the groundbreaking ceremony in Kuytun that the expressway, also part of the national expressway network, would improve the regional transport and promote local economic development.

BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said.     "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason.     In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier    "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang.     Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown.     However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months.     According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis.     Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half.     Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks.     To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year.     "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang.     But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year.     "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.

BEIJING, Aug. 14 (Xinhua) -- Premier Wen Jiabao on Friday urged young Chinese and Africans to remember the traditional friendship and work together to promote Sino-African relations.     "I hope young people from China and African countries will learn from each other and help each other, treat differences with an open mind, and contribute your wisdom and strength to building the strategic China-Africa partnership," Wen said.     He made the remarks while addressing the opening ceremony of the third China-Africa Youth Festival and a farewell ceremony for young Chinese volunteers departing for Africa. Chinese Premier Wen Jiabao (R, front) shakes hands with an African young man attending the opening ceremony of the third China-Africa Youth Festival in Beijing, capital of China, Aug. 14, 2009. Wen on Friday attended the opening ceremony of the third China-Africa Youth Festival and a farewell ceremony for young Chinese volunteers departing for Africa.    The festival, originally proposed by Wen at the second China-Africa Cooperation Ministerial Conference in Ethiopia in December 2003, has become a platform for China-Africa exchanges.     "Young people bear the hope of a nation and they also shoulder the future of a friendly China-Africa relationship," Wen said, expressing his hope young people would fulfill their historic responsibilities and create better conditions for friendship development.     The Chinese government decided in 2006 to send 300 young volunteers to Africa to work in medical, agricultural, sports and educational field.     Wen encouraged the volunteers to serve the African people with their knowledge and skills, win their friendship and trust, and learn from them.     More than 750 guests, including youth delegates from 49 African countries, attended the ceremony.

LANZHOU, Sept. 21 (Xinhua) -- Chinese President Hu Jintao has written a congratulatory letter to mark the 100th anniversary of the founding of Lanzhou University in northwest China's Gansu Province.     The university has been sticking to its motto of making constant efforts to become stronger and fostering its own features, and has developed glorious patriotic and academic traditions, Hu said in the letter.     After the founding of New China and particularly the country's reform and opening up, Lanzhou University has shared the fate of the nation and kept pace with the times, and made important contribution to the economic and social development in the western regions, the president said.     He expected the university to contribute more to supporting the national program of developing the western regions, building an innovation-oriented country and a moderately prosperous society in all aspects, and stepping up the socialist modernization drive.     A grand gathering was held Saturday to commemorate the centenary of the university. State Councilor Liu Yandong read President Hu's congratulatory letter at the conference, noting that talented people and education are the foundation of building a strong and modern country.     She hoped that the university plays a better role in cultivating innovation-oriented talents, and bolstering advanced thinking and science and technological achievements.