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BEIJING, Feb. 22 (Xinhua) -- Chinese Foreign Minster Yang Jiechi and his Austrian counterpart Michael Spindelegger held talks here on Tuesday, pledging to enhance bilateral ties through deeper cooperation.Yang hailed the remarkable development of bilateral ties since the two countries established diplomatic relations 40 years ago.He said both sides should see the 40th anniversary as a new starting point for maintaining traditional friendship, deepening political mutual trust, expanding cooperation and enhancing cultural exchanges, to strive for greater development of bilateral ties.He stressed that China appreciates the Austrian government's adherence to the one-China policy.For his part, Spindelegger said the Austrian side attaches great importance to developing ties with China and he hoped both sides will strengthen cooperation in various fields in a more pragmatic way.The two also exchanged views on some international and regional issues of common concern.

NEW YORK, March 9 (Xinhua) -- The U.S. stocks dropped on Wednesday, the two-year anniversary of the beginning of a bull market, as concerns of oil prices and Middle East unrest continued to weigh on investors' minds.U.S. crude oil price dipped on Wednesday as crude inventories rose more than expected, though Brent crude rose on fears caused by continued violence in Libya.Meanwhile, Rex Tillerson, the CEO of energy giant Exxon Mobil Corp., said on Wednesday that he didn't think the recent jump in oil prices was hurting the U.S. economy just yet, but it's getting close.The market was worrying that the surging oil prices would hurt global economic recovery. Adding to those concerns, the Portuguese government's two-year cost of borrowing hit the highest level since it joined the eurozone in a bond auction on Wednesday.Wednesday marked the two-year anniversary of the beginning of a bull market. On March 9, 2009, the Dow Jones Industrial Average closed at 6,547 and the Standard & Poor's 500 Index closed at 677. The Dow is back above 12,000 now and the S&P 500 index has almost doubled.Meanwhile, the wholesale report was slightly positive, but still failed to boost the market. According to the U.S. Commerce Department, the wholesale inventories climbed 1.1 percent in January. Sales at the wholesale level rose 3.4 percent, the largest gain since November 2009.Economists expected that as businesses kept expanding, demands for products would continue to grow. And larger sales may also encourage businesses to keep restocking their shelves and boost factory production.According to the report, a 10.6-percent rise in demand for petroleum helped lift sales, reflecting higher oil and gas prices.While some investors were concerned that surging oil prices might have a negative impact on economy, some others believed the boost in sales and inventories in January hinted that the economy could withstand the impact.The Dow Jones industrial average lost 1.29 points, or 0.01 percent, to 12,213.09. The Standard & Poor's 500 Index was down 1. 80 points, or 0.14 percent, to 1,320.02. The Nasdaq declined 14.05 points, or 0.51 percent, to 2,751.72.

GUIYANG, Jan. 30 (Xinhua) -- Chen and her mentally handicapped son moved into their newly finished home last December. Shortly afterwards, a month-long cold wave with heavy snow hit their hometown, as well as the majority of southern China.It would have been "terrible" to stay in the old home in such cold weather, said 66-year-old Chen Houlian, a villager from the Tongzi County of southwestern China's Guizhou Province.Dropping temperatures and occasional sleet were predicted before this year's lunar New Year festival, which begins next Thursday.Behind the new home stood their old adobe cottage, with visible cracks on the clay walls. Wooden doors and window frames of that cottage were covered with black smoke due to more than 40 years of indoor cooking, while those of the new house were painted bright blue.In fact, the old house might collapse after the heavy snow, according to Jin Jing, deputy head of the County.Chen's family was one of the poorest in town. The farmland they grew crops on barely produced enough corn and cabbage to meet their needs, while the minimum living subsistence allowance of 2,200 yuan (334 U.S. dollars) each year was their total annual income.They would never be able to afford to build a new home on their own without receiving financial aid from a government project, Jin added.Chen's new house cost over 40,000 yuan. They received 20,000 yuan from the project and 5,000 from the local federation of people with disability. The rest was borrowed from relatives and neighbors.Five pairs of red couplets were posted by each door and window to express their gratitude to all the people who had offered help.On the day they moved in, Chen held an outdoor banquet for the entire village using borrowed money to mark the happiest event this family had witnessed for many decades.The government-funded project was launched over two years ago, after a deadly snow storm hit southern China during Jan-Feb 2008, collapsing nearly half a million rural houses and causing damage to another 1.7 million.The project was designed to provide funds to residents living in dilapidated buildings in impoverished rural regions so they might renovate or build new homes.In Guizhou alone, over 600,000 families had finished building new homes by the end of 2010 with help from that project, as over 4.7 billion yuan was allocated to subsidize this building.The project was part of China's efforts to build its social-security-based housing system, which also includes affordable housing, low-rent housing and public rental housing programs to meet the needs of low-income people amid surging property prices across the country.

BEIJING, Feb. 5 (Xinhua) -- Lending to China's small and medium-sized enterprises (SMEs) rose faster than loans to large enterprises last year, according to the People's Bank of China (PBOC), the central bank.Outstanding loans to small enterprises by banks and financial institutions jumped 29.3 percent year on year to 7.55 trillion yuan (1.15 trillion U.S. dollars) in 2010, while loans to medium-sized enterprises stood at 10.13 trillion yuan, up 17.8 percent, said the PBOC.Outstanding loans to large enterprises rose 13.3 percent to 13.42 trillion yuan, highlighting the government's efforts to optimize the loan structure, the PBOC said.About 99 percent of Chinese enterprises are SMEs which contribute 60 percent of the country's gross domestic product.Financing has long been difficult for Chinese SMEs as banks prefer to lend to big companies, particularly reputable state-owned enterprises.The government has moved to help SMEs get finance by differentiating the reserve requirement ratio for the Rural Credit Cooperative, the major lender to SMEs, and encouraging innovation in SME bond issuance.In July last year, the PBOC asked financial institutions to establish independent criteria for approving loans to SMEs and to improve efficiency in processing SME loan applications.The PBOC said SME loan growth would continue to accelerate this year.

SAN FRANCISCO, May 10 (Xinhua) -- Google on Tuesday launched its long-awaited cloud-based music service Music Beta without any label licenses it originally wanted.The search giant introduced the digital music locker service at its annual I/O developer conference in San Francisco. So far, only U.S. users can access the service by requesting an invitation from Google while priorities will be given to those with the Verizon version of the Motorola Xoom tablet and attendees of the I/O conference.Since Google failed to come to a license agreement with major music labels, Music Beta is essentially a massive cloud hard drive. Users cannot share their Music Beta by Google tunes or purchase new songs. It allows users to upload 20,000 songs into the cloud, compared with Amazon Cloud Drive's 2,000 songs and 5 GB limit for free accounts.Any web-connected devices with a browser or supporting Flash can stream music from the digital locker, but the service is only for Android-powered devices.Music Beta also gets Instant Mix, a similar intelligent feature to Apple's Genius playlist creator, which creates new playlists based on a single song by analyzing its characteristics.Before unveiling the service, Google told U.S. media Monday night that the current Music Beta is not the service Google had wanted to offer and it will continue to seek licenses with major music labels.