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BEIJING, Dec. 23 (Xinhua) -- Industrial and Commercial Bank of China (ICBC), China's largest lender by market value, announced Thursday that it has completed its 44.9 billion yuan(about 6.75 billion U.S. dollar) rights issue in Shanghai and Hong Kong.The dual-listed lender said in a statement to the Shanghai Stock Exchange that it had raised 13.04 billion Hong Kong dollars (about 11.18 billion yuan) from the Hong Kong portion of its rights issue by selling 3.74 billion shares at a price of 3.49 Hong Kong dollars.The Beijing-based bank said it had sold 11.3 billion shares at 2.99 yuan in the Shanghai market, which was 99.72 percent subscribed and had raised 33.67 billion yuan in late November.The ICBC said the fund raising aimed to replenish its capital base.The bank's core capital adequacy ratio stood at 9.33 percent by the end of September this year, while its capital adequacy ratio was 11.57 percent. In the first three quarters of this year, the ICBC saw net profits up 27.1 percent year on year to 127.8 billion yuan.Shares of the bank closed flat at 4.18 yuan in Shanghai and was down 0.35 percent to 5.7 Hong Kong dollars in Hong Kong.

BERLIN, Jan. 7 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang met with German President Christian Wulff on Friday to upgrade relations between the two countries.Li said China-Germany relations have been achieving new progress in recent years, particular last year when bilateral trade is expected to exceed 140 billion U.S. dollars, about one third of the total trade volume between China and the European Union (EU).Noting that China always views its ties with Germany from a long-term strategic point of view, Li said that his visit is aimed at further advancing the bilateral relations, which will face new opportunities in the new year.Chinese Vice Premier Li Keqiang (L) meets with German President Christian Wulff in Berlin, Germany, Jan. 7, 2011.The two sides should deepen cooperation in traditional areas, expand the scale of mutual investment and create sound environment for fair competition for enterprises, Li added.With Germany as China's largest source of technology in Europe, he said that it is beneficial for both countries and the world to see a combination of the German technology and the enormous Chinese market.Li said relations between Beijing and Berlin are of global significance, and that better coordination between China and Germany on important international and regional issues will also bring development and prosperity to the world.The German President said that his country attaches great importance to and admire China's development, which is viewed by Germany as an opportunity rather than a threat.He agreed that the two countries should strive for a closer strategic partnership based on mutual trust.Both China and Germany are playing important roles on issues like maintaining world peace, countering terrorism and improving international financial and monetary systems, Wulff said, adding that Germany is willing to strengthen cooperation with China on the world stage such as in the G20 (Group of 20 major economies).The German President also stressed the importance of cultural and educational exchanges between the two countries and said that the two sides should also strengthen cooperation in technology and innovation.Wulff said he is glad to hear that China has agreed to be the partner country of the Hanover Fair 2012, the world's biggest industrial fair. He said the trade fair will offer an opportunity for China to showcase its development, especially its clean energy technologies.Li responded that there is great potential for Sino-German cooperation in areas such as clean energy, adding that China wants to learn from Germany's advanced technology and management expertise and join hands with Germany to develop the new energy markets.China wants to use the opportunity of the Hanover Fair to strengthen high-tech cooperation with Germany, he added.

BRUSSELS, Nov. 29 (Xinhua) -- The European Union (EU) and China Monday signed an agreement aimed at enhancing cooperation in the field of disaster risk management between the two sides.European Commissioner for International Cooperation, Humanitarian Aid and Crisis Response Kristalina Georgieva and visiting Chinese State Councilor Ma Kai witnessed the signing ceremony of the agreement for a joint project totaling 9 million euros (11.7 million U.S. dollars), among which 6 millions euros (7. 8 million U.S. dollars) will come from the EU.As the first bilateral project in disaster prevention, it is aimed at strengthening China's disaster management system with the support of the EU and its member states.EU Commissioner for International Cooperation, Humanitarian Aid and Crisis Response Kristalina Georgieva (R) shakes hands with visiting Chinese State Councilor Ma Kai in Brussels, capital of Belgium, on Nov. 29, 2010. "We followed up on the commitment to strengthen cooperation in the field of emergency management, made in 2009 by Chinese Premier Wen Jiabao and President of the European Commission Jose Manuel Barroso," Georgieva said."Enhanced cooperation will provide a platform for knowledge exchange and will ensure more efficient and cost-effective response and preparedness for disasters," she said.Ferran Tarradellas, spokesman for Georgieva, stressed the importance of disaster prevention to Xinhua after the signing ceremony."The most effective way to save lives in crisis situations is to take steps to prevent disaster before it happens," Tarradellas said.According to the Chinese delegation, the project is part of the development assistance offered by the EU to China.Since 1984, the EU has funded 75 projects for development assistance to the tune of 730 million euros (949 million U.S. dollars) in China, especially in the field of socio-economic reform, agriculture, energy, protection of environment and social security.

LAS VEGAS, the United States, Jan. 7 (Xinhua) -- China is incredibly important to the success of the global consumer electronics industry, Gary Shapiro, president and CEO of the Consumer Electronics Association (CEA) told Xinhua in an interview."There is no doubt that China is a growing powerhouse. China is a global leader in manufacturing and the 'made in China' phrase is known around the world. Chinese manufacturing facilities provide jobs and spur growth not just in China, but around the world as more international companies explore doing business in China," Shapiro said during the 2011 International Consumer Electronics Show (CES), which was organized by CEA.The 2011 International CES kicked off here on Thursday with more than 2,700 exhibitors unveiling their latest technology innovations, up from the 2010 CES which featured 2,500 exhibitors. A total of 267 exhibitors from China, including major companies such as Haier and Hisense, will display their products at the show.According to CEA and market research company Gfk research, China is expected to contribute 13 percent of global CE retail revenue in 2010, up from 12 percent in 2009."The Chinese consumer technology market is also critical to the success of the International CES," Shapiro said. "China also ranked 3rd in terms of international attendance at the 2010 CES, with 1,105 Chinese industry professionals."However, while a leader in manufacturing, to become a true world leader China must produce innovative companies with brands that are recognized around the world, Shapiro cautioned."In fact, not one Chinese company is included on the Interbrand annual listing of the top 100 global brands. In order for China to truly compete on a global scale, it must change its outlook on the importance of branding."In recent years, many Chinese companies have come far in building their brands. Haier and Hisense are well-known around the globe. In fact, Hisense's Chairman Zhou Houjian delivered a keynote address at the 2010 CES, marking the first time a Chinese company has keynoted at the International CES."For Chinese companies looking to build their brand, there is no better forum to launch an innovative product than a tradeshow such as the International CES, which is the largest branding event in the world," Shapiro said.Shapiro was also optimistic with the prospect of the consumer electronics industry.After a down year in 2009, the consumer electronics industry grew 13 percent last year and is expected to grow an additional 10 percent this year to 964 billion dollars, thanks in large part to demand for smartphones and notebook computers, the CEA forecast. The group expects electronics sales to grow in all major markets around the world but to be especially strong in Western Europe, North America and China."Due to the economic downturn, consumers around the world have been cautious in their purchase patterns. However, CEA research finds that individuals view consumer electronics products as necessities rather than luxury goods, reinforcing the strength of our industry even in a down economy," he said.CEA is a U.S. trade association promoting growth in the consumer technology industry. It represents more than 2,000 corporate members involved in the design, development, manufacturing, distribution and integration of consumer electronics products. As a U.S.-based trade association, all CEA members must have offices in the United States, however CEA also has 40 associate member companies based in China.

BEIJING, Nov. 26 (Xinhua) - China on Friday called for a settlement to the territorial dispute between Israel and the Arab countries through negotiations.Chinese Foreign Ministry spokesman Hong Lei made the remarks while commenting on an Israeli bill that had been passed by the Israeli Knesset (parliament) Monday. The bill demands a referendum should any Israeli government make territorial concessions in East Jerusalem to the Palestinians or in the Golan Heights to Syria.Since the aftermath of the 1967 war, Israeli law requires a two-thirds majority of consent by the Israeli public when handing over territories to Palestine and Syria.However, the law goes against the spirit of United Nations (UN) resolutions and cannot change the fact that East Jerusalem and the Golan Heights are occupied lands of the Arab countries, Hong said."China calls on Israel to follow the relevant UN resolutions as well as the established principles of international laws to properly settle the territorial dispute through negotiations for the realization of a comprehensive, and lasting peace in the Middle East," said Hong.

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