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BERLIN, Feb. 24 (Xinhua) -- A business delegation of about 200 Chinese entrepreneurs arrived here Tuesday night, starting their four-state procurement tour in Europe.     The delegation, led by Commerce Minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, are expected to sign deals of purchasing automobiles, machinery, aircraft engines, railway equipment and components with companies from Germany, Switzerland, Spain and Britain.     The trip is a follow-up action for the agreements Premier Wen Jiabao reached with his counterparts during his visit to the four European countries early this month.     "We come here in according with the agreements Premier Wen and the leaders from the four countries had made," Chen told Xinhua atthe Tegel Airport after he landed in Berlin.     Germany is the first leg for the Chinese delegation, and the Chinese trade officials and business leaders are to hold negotiations with their German counterparts on Wednesday.     "I believe we will have our pockets fully packed this time, and I also believe our procurements would help inject some energy into the slump economy of Europe," Chen said.     "I hope we can achieve a lot, I also hope we can get good technology standards and reasonable prices for our procurement," he said.     European Union (EU) is the biggest trading partner of China and China is the EU's second biggest trading partner. Germany is the biggest trading partner of China within the EU. According to official data released by the German side, the trade volume from January to November 2008, the trade volume between Germany and China hit 85.637 billion euros (about 109.52 billion U.S. dollars),up 10.8 percent.

BEIJING, March 6 (Xinhua)-- China has named its first home-made jumbo jet C919, which will take off in around eight years, its chief designer Wu Guanghui said on Friday.     "C represents China as well as COMAC, the abbreviation for Commercial Aircraft Corporation of China, Ltd," said Wu, who is also the deputy general manager of COMAC, the manufacturer of C919.     "The name also reflects our determination to compete in the international market for jumbo jet. C919 comes after Airbus and Boeing, so you will have ABC in the aviation industry," said Wu, apolitical advisor who is here attending the annual session of 11thNational Committee of the Chinese People's Political Consultative Conference.     The first 9 in the name implies forever in Chinese culture, while 19 means the first jumbo jet produced by China will have 190seats, he said.     Wu said that his company will choose suppliers of engines, airborne equipment, and materials through international bidding, and will encourage foreign suppliers to enter into partnership with Chinese manufacturers.     "We will choose foreign-manufactured products like engines at the beginning phase, but we will also independently do the research and manufacturing work at the same time," noted Wu.     The Shanghai-based COMAC was set up in May, 2008 after approval in early 2007 by the State Council, China's Cabinet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder.     Wu said the jumbo jet project now involves 47 institutions from China and abroad, and that the preliminary general technical design plan and commercial feasibility study have been completed.

GENEVA, April 14 (Xinhua) -- Switzerland and China will soon sign a formal agreement on enhancing their cooperation in the field of sustainable water management and hazard prevention, the Swiss government said on Tuesday.     Federal Councilor and Environment Minister Moritz Leuenberger will make his first official visit to China on April 16 to sign this agreement, according to a government statement.     During his five-day visit, Leuenberger will also hold official discussions with Chinese Minister of Water Resources Chen Lei, attend the third Yangtze Forum and visit the Three Gorges Dam, the statement said.     Due to their mountainous regions, Switzerland and China face similar natural hazards, according to the statement.     At the same time, both countries harness their hydropower and are faced with the question of river basin management, which is likely to become more pressing due to climate change, it added.

BEIJING, Feb. 23 (Xinhua) -- China's central bank on Monday warned of deflation in the near term caused by continuing downward pressure on prices.     Commodities prices were low and weak external demand could exacerbate domestic over-capacity, the People's Bank of China (PBOC) said in an assessment of fourth-quarter monetary policy.     "Against the backdrop of shrinking general demand, the power to push up prices is weak and that to drive down prices is strong," the PBOC said. "There exists a big risk of deflation."     China's consumer price index (CPI), a major gauge of inflation, rose 1 percent in January from a year earlier. In that period, the producer price index (PPI), a measure of inflation at the wholesale level, dropped 3.3 percent.     But the PBOC also warned of medium and long-term inflation risks.     As the central banks worldwide injected a huge amount of liquidity into the financial system, commodities prices could repeat earlier rallies if market confidence recovered, it said.     The PBOC stated that China's economy faced further downside risks because of slackening external demand, over-capacity in some sectors and increases in urban job losses.     The gross domestic product expanded at a slower rate of 6.8 percent in the fourth quarter of 2008, as exports slumped and the property sector sagged, dragging down growth for the whole of 2008to a seven-year low of 9 percent     But China had huge market potential and as the macro controls started to take effect, its economy was likely to maintain stable and relatively fast growth, it said.     To spur growth, the PBOC said it would ensure ample liquidity in the banking system and promote the reasonable and stable growth of credit.     It also reaffirmed that China would keep the Renminbi (RMB) exchange rate basically stable, while making it more flexible in a self-initiated, gradual and controllable manner.

BOAO, Hainan, April 19 (Xinhua) -- Chinese officials and entrepreneurs said Sunday that China should have bigger say in setting commodity prices, as oil and iron ore prices saw roller-coaster-like fluctuations in the past two years.     The drastic price changes are not reflecting real demand, but are propped up by financial speculators, said the senior executives of China's top energy enterprises at the Boao Forum for Asia (BFA) annual conference 2009, which concluded Sunday in the island resort of Boao in south China's Hainan Province.     They said commodity prices should be pulled back to normal track to reflect real demand, otherwise the inflation woe will come back and make business expansion unsustainable.     PRICE AND REAL DEMAND     "Although we are the biggest commodity buyer in the world, our role in the price setting is limited," said Zhang Xiaoqiang, vice minister of the National Development and Reform Commission (NDRC), China's economic planning agency.     China's steel makers have fallen into a prolonged bargain with the world's major iron ore producers, demanding a sharper price cut than the 20 percent-off deal plan offered by the Rio Tinto of Australia, as the world's No.1 iron ore importer has less demand amid the economic slowdown.     Iron ore prices increased five fold in the five years before 2008.     Xu Lejiang, boss of the Baosteel Group Corporation, China's largest steel maker, said at the forum that nothing is more important than the normalization of iron ore pricing, without elaborating how much more price cut he wants.     The continuously rising iron ore prices partly reflected demand, but that's not the whole picture, said Xu.     The prices tumbled by more than two thirds from a peak of 187 U.S. dollars per tonne last year. Speculative trading on iron ore shipping index helped fan the volatility, since shipping costs comprise a large share of the iron ore prices.     The Baltic Dry Index (BDI), a main gauge of international shipping activities, has plummeted from a peak of 11,000 points to above 600 points, which is certainly what people are reluctant to see, Xu said.     His view was echoed by Fu Chengyu, chief executive officer of the China National Offshore Oil Corporation (CNOOC), the largest offshore oil producer in China. He said the prices are bound to fall after irrational rise.     He said the loose monetary policy in the United States should be blamed for the skyrocketing oil prices last year.     "If no measures were taken, the world would see another round of inflation after we weather through the crisis," he said.     He noted the pre-emptive measures should be put into place to avoid that, otherwise the next headache for the G20 leaders will be how to fight inflation.     "We should prepare for tomorrow," Fu said.     Zhang Xiaoqiang said international collaboration is essential to enhance the oversight of the financial speculation.     ACTION BEFORE CRISIS     The volatile external conditions forced many Chinese energy enterprises to seek their own way to offset the negative impacts of price fluctuations.     Cost saving has always been important to CNOOC, said Fu. "We have cut the cost to 19.78 U.S. dollars per barrel, and that has allowed us to get through with ease when prices fall."     "We step up investment with the current cheap prices, and that will help us flourish after the crisis," Fu said.     To offset the negative impacts of price changes, many Chinese enterprises have been engaged in hedge trading and other derivative products investment, but many failed with mounting losses.     "CNOOC has lost nothing, since we use hedge trading to preserve value, rather than make money," he said.     "Hedge trading is not speculation," said Fu who has 30 years of experience in the oil industry.     Fu called on Asian countries to negotiate with the world's major crude oil suppliers, as Asian nations have to pay 1 to 2 U. S. dollars more per barrel than other buyers.     Zhang Xiaoqiang noted China will continue to liberalize domestic prices of energy products and resources, saying the recent reform of refined oil prices is a good start.     "We should beef up our commodity reserve to ensure plenty supply in order to offset the negative impacts of big price changes," Zhang said.     As the Chinese government has announced plans to build the second batch of national oil reserve bases, enterprises can try to have their commercial energy reserves in the future.