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BEIJING, Nov. 14 (Xinhua) -- China's government on Friday pledged to make every effort to ensure the safe release of the crew of a Chinese fishing boat seized by Somali pirates off east Africa. The Chinese Foreign Ministry issued a statement saying it was still assessing the situation and trying to obtain more information on the vessel, which was overrun late on Thursday. The ministry would work with organizations abroad to ensure the safe release of the crew, according to the statement. The vessel, owned by Tianjin Ocean Fishing Company, was hijacked by pirates armed with grenade launchers and automatic weapons off the coast of Kenya and was being held off the southern Somali port city of Kismanyu, according to reports on Friday. The 24 crew comprised 16 Chinese, one Japanese, three Filipinos and four Vietnamese, according to China's Ministry of Transport. A Somali pirate leader reportedly said all the crew members were "fine".
BEIJING, Jan. 19 -- Air China Ltd, the nation's largest international carrier, expects to report its first annual loss in at least eight years on waning travel demand and wrong-way bets on fuel prices. The carrier made paper losses of 6.8 billion yuan (994.5 million U.S. dollars) on fuel-hedging in 2008, it said on Friday in a Hong Kong stock exchange statement. The airline made a 3.88-billion-yuan annual profit in 2007. Air China joins China Southern Airlines Co and China Eastern Airlines Corp in forecasting a 2008 loss after the nation's cooling economy damped business and leisure travel. The Beijing-based carrier also reported hedging losses after jet-fuel prices tumbled 70 percent in less than six months. "Air China is more exposed to the global crisis" than China Southern and China Eastern, said Li Jun, an Everbright Securities Co analyst in Shanghai. "As such, most of its advantages turned into disadvantages last year." The carrier has been profitable since at least 2000, data complied by Bloomberg News showed, helped by having a wider overseas network than domestic rivals. "The aviation market experienced a general shrinking demand in 2008 and traffic revenue was significantly lower than expected," the Beijing-based company said in the statement. The hedging contracts "will have a considerable effect on the financial results for the year." The airline is also able to hedge a greater proportion of its fuel needs than rivals, as Chinese carriers are barred from hedging purchases of fuels for domestic flights. That has previously enabled Air China to limit the effect of increasing fuel prices. The airline's passenger numbers fell 1.7 percent in 2008 to 34.2 million, the first decline in five years. Its cargo and mail volume dropped 3.8 percent to 898,962 tons. The shares have dived 80 percent in the past year and closed 3.9 percent higher at 1.88 Hong Kong dollars (24 U.S. cents) a share on Friday in Hong Kong trading.

YICHANG, Hubei, Nov. 7 (Xinhua) -- The Three Gorges Project has completed trial water storage operations for the year, with the water level in the reservoir exceeding 172 meters. As of Tuesday, the water level had risen 27.3 m since Sept. 28,when this year's storage plan began, said the developer of the massive water conservancy project, the China Three Gorges Project Corp. (CTGPC) on Friday. The water-raising measures ended on Tuesday when the water behind the dam reached 172.3 m and the reservoir held more than 19.3 billion cubic meters of water. The reservoir then began to discharge water. Generally speaking, the trial operation, which is a test of quality, went well. The structure, generators and shipping locks were all in normal condition and the water quality was not affected, said a CTGPC statement. The water level is expected to reach 175 m in 2009 when the Three Gorges project is completed. At 156 m, the target level for the second phase, the reservoir could be fully functional in terms of flood control, power generation and navigation control. Launched in 1993, construction of the gigantic concrete structure of the dam was completed and began to store water in May2006. Previously, the reservoir's temporary cofferdams held water at a depth of 135 to 139 m. The Three Gorges Project, with a budget equivalent to 22.5 billion U.S. dollars, is a multi-functional water control system built at the upper and middle reaches of the Yangtze River. Its main works are a dam, a five-tier ship lock and 26 hydropower turbo-generators. The dam will have 14 turbo-generators on the left bank and 12 on the right. Combined, they will produce 84.7 billion kw of electricity annually. There are plans to add six more turbines by 2012. As of June, 1.24 million residents had been relocated to make way for the dam construction.
Envoys from the six nations to the Korean Peninsular nuclear talks gather to hold talks in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. A new round of the six-party talks is begun here Monday afternoon for a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK). BEIJING, Dec. 8 (Xinhua) -- Envoys from the six nations gathered in Beijing on Monday for a fresh round of talks on removing nuclear programs from the Democratic People's Republic of Korea (DPRK). "I propose the talks focus on three issues," Chinese Vice Foreign Minister Wu Dawei said in his opening address late Monday afternoon. "First, verification; secondly, implementation of the remaining second phase action plan; and thirdly the establishment of a peace and security mechanism in northeast Asia." The talks, also involving the United States, Republic of Korea(ROK) Russia and Japan, got under way in Diaoyutai State Guesthouse in western Beijing. "Since our last meeting in July, all parties have kept in close communication and consultation and registered some progress, which China deeply appreciated," Wu said. Last week, chief U.S. envoy Christopher Hill and his DPRK counterpart, Kim Kye Gwan, met in Singapore. The talks were reported to be substantive, but the two parties failed to reach a deal on sampling of atomic materials. "We should participate in the meeting with a flexible and pragmatic attitude. We need joint efforts to narrow differences and lay a solid foundation for promoting talks into next phase," Wu said. The Chinese host also called on the six nations to continue to adhere to the principles of "word for word, action for action" and” phased implementation." Monday's talk lasted about one hour, with the issue of verification topping the agenda. "We discussed fuel oil, the issues of disablement schedule and verification," Hill told reporters at China World Hotel Monday night. "On fuel oil and disablement, there were no really contentious issues," said Hill. The difficulty lies in how to verify DPRK's nuclear program. "The Chinese have some ideas on how to approach the issue. What China is trying to do now is to put together a draft and circulate something tomorrow(Tuesday)," Hill said. "It has to do with the verification. The key element will be what we did in Pyongyang. As you know we want to see some further definitions of this." Sunday night, the U.S. envoy said the objective of this round of talks was to produce a verification protocol and a clear road map of what parties need to do to complete the verification. Under an agreement reached at the six-party talks in February 2007, the DPRK agreed to abandon all nuclear weapons and programs. It promised to declare all its nuclear programs and facilities by the end of 2007. In return, DPRK would get diplomatic and economic incentives. The six parties agreed to a disarmament schedule in October 2007. The DPRK said it has slowed down that process because of sluggish economic compensation. On Saturday, DPRK vowed to ignore Japan at the talks, citing Tokyo's refusal to send aid to the country as part of the agreement. Before Monday's talks began, the Chinese delegation held a series of preliminary bilateral meetings with the other five parties. Despite recent tensions, the DPRK and ROK delegations also held a rare bilateral meeting before the talks opened. Launched in 2003, the six-party talks was a vice-minister level mechanism aimed at denuclearizing the Korean Peninsula. Chinese top nuclear negotiator and Vice Foreign Minister Wu Dawei (1st R, front) addresses a fresh round of talks on the denuclearization of the Democratic People's Republic of Korea (DPRK) in the Diaoyutai State Guesthouse in Beijing, on Dec. 8, 2008. (Xinhua/Wang Jianhua)
BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao and U.S. president-elect Barack Obama Saturday discussed in a telephone conversation relations between China and the United States and major international issues of common concern, including the ongoing global financial crisis. In the telephone conversation, Hu expressed appreciation to Obama for emphasizing in his election campaign speeches the great importance of China-U.S. relations, and for advocating the strengthening of China-U.S. cooperation in jointly responding to global challenges and in sharing global development opportunities. Hu pointed out that since the establishment of diplomatic relations between the two countries 30 years ago, bilateral relations have generally kept developing despite setbacks, scoring hard-earned achievements and bringing about tangible interests to both nations. As the largest developing nation and the largest developed nation, China and the United States share extensive common interests on issues related to world peace and development, and both assume important responsibility in this regard, Hu said. In the new historical period of time, China is willing to maintain high-level exchange with the United States and also contacts at all levels, continue strategic dialogue with the United States, increase exchange and cooperation between the two countries in all fields, and strengthen the exchange of opinion and coordination with the United States on major international and regional issues, the Chinese president noted. China and the United States should respect each other and accommodate each other's concerns, and appropriately settle sensitive issues between the two countries, particularly the Taiwan issue, in order to promote the China-U.S. relations of constructive cooperation to a higher level, he said. Speaking on the same occasion, Obama said that China is a great nation and that China's development and success meet U.S. interests. On today's international arena, U.S.-China relations are relations of vital importance. The development of U.S.-China relations is not only in the interest of both nations, but also benefits the world, Obama said. Saying that U.S.-China relations face many development opportunities, Obama expressed the hope that the United States and China will strengthen cooperation, and promote greater development of bilateral relations, to bring benefits to both nations. The United States hopes to strengthen consultation and coordination with China on security, climate change and regional hotspot issues, to promote settlement of the relevant issues. Hu pointed out that the current global financial crisis has seriously impacted economic development and people's livelihood in all countries around the world. The international community should increase confidence, strengthen coordination and have close cooperation, in effectively dealing with this global challenge. A world economic summit will be held in Washington on Nov. 15, and China attaches great importance to it. China is willing to discuss with other participants in the summit how to adopt powerful measures to reestablish market confidence as early as possible, how to prevent the global financial crisis from proliferation and spreading, and how to diminish its impact on real economies, in a bid to avert a possible global economic recession, Hu said. The global financial crisis has led to the exposure of many deep-hidden drawbacks of the global financial system. The international community should earnestly sum up the lessons from the global financial crisis and launch necessary reforms of the global financial system, on the basis of sufficient consultation among all interested parties, Hu said. In particular, efforts should be made to explore in an in-depth way solution of such major questions as how to strengthen international financial supervision and regulation, how to improve the system of international financial organizations and how to improve the international monetary system, the Chinese president said. Obama said that settlement of the global financial crisis requires close cooperation by governments of all countries, expressing the hope that the United States and China will strengthen cooperation at the world economic summit planned for November 15 in Washington.
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