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BEIJING, April 17 (Xinhua) -- Chinese Vice Premier Li Keqiang urged more efforts to expand domestic demand and restructure the economy to revitalize the old industrial base in northeast China.Li made the remarks during an inspection tour to northeast China's Liaoning Province between Wednesday and Saturday.Urbanization, which in itself is a kind of economic restructuring, offered great potentials for expanding domestic demand, Li said.Chinese Vice Premier Li Keqiang (4th R) listens to the introduction of the comprehensive plan of the construction of Lingang Industrial Park at Changxingdao in Dalian, northeast China's Liaoning Province, April 15, 2010. Li made an inspection tour in Liaoning from April 14 to 17.He also stressed the role of scientific and technological innovations in transforming the economic development mode and creating new advantages in competition.Improved livelihood of the people is a major symbol for the revitalization of the old industrial base, said Li, urging local governments to step up efforts to improve people's well-being in the process of economic development

BEIJING, March 31 -- The shifting of a 40-year-old system of setting annual iron ore prices to a short-term pricing mechanism may shake up the Chinese steel industry by creating an even playing field for all steel mills - large and small - in terms of raw material costs.BHP Billiton said on Tuesday that it had concluded agreements with a significant number of Asian customers to shift pricing for the majority of its iron ore to short-term contracts, which are based on market prices.A worker at Liaoyang Iron and Steel Company, Liaoning province. There are 1,200 steel mills in China, but only 112 have licenses to import iron ore at long-term prices. Unlicensed firms have to buy iron ore from the spot market.Vale wants a new pricing system every quarter, said Pedro Gutemberg, director of marketing and research at Vale in Beijing on Tuesday, speaking at an industry conference"A more time-adjusted pricing mechanism is needed in order to better reflect real market prices," he said. "Benchmark prices are over. This is a market-oriented industry."That shift may be of some value to smaller steel mills."Vale has offered quarterly priced iron ore to us, which means we could buy iron ore at the same prices that large steel mills pay," said a sales manager at a small, private steel mill that doesn't have an iron ore import license.

BEIJING, May 23 (Xinhua) -- Chinese Vice Premier Wang Qishan Sunday met with U.S. Federal Reserve Chairman Ben Bernanke, who was in Beijing for the second round of the China-U.S. Strategic and Economic Dialogue (S&ED).They exchanged views on issues including global economy and finance, and the reform on financial supervision system.Wang and State Councilor Dai Bingguo, as Chinese President Hu Jintao's special representatives, will co-chair the dialogue on May 24-25 with U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, who are President Barack Obama's special representatives.   Chinese Vice Premier Wang Qishan (R) meets with U.S. Federal Reserve Chairman Ben Bernanke in Beijing, capital of China, May 23, 2010.

BEIJING, May 7 (Xinhua) -- The Chinese government has allocated another 200 million yuan (29.3 million U.S. dollars) to quake relief in the northwest Qinghai Province on top of 500 million yuan already earmarked, the Ministry of Finance said Friday.The funds will support relief efforts, including resettlement, subsidy on daily necessities, medical care, epidemic prevention, re-opening of schools, and infrastructure repairs, according to the ministry's website.The ministry ordered timely allotment and tightened management of the relief funds to help the quake-affected residents to restore production and life as early as possible.The 7.1-magnitude earthquake that hit Qinghai's Yushu prefecture on April 14 had left at least 2,200 people dead, with more than 100,000 homeless.

BEIJING, May 23 (Xinhua) -- Chinese Vice Premier Wang Qishan Sunday met with U.S. Federal Reserve Chairman Ben Bernanke, who was in Beijing for the second round of the China-U.S. Strategic and Economic Dialogue (S&ED).They exchanged views on issues including global economy and finance, and the reform on financial supervision system.Wang and State Councilor Dai Bingguo, as Chinese President Hu Jintao's special representatives, will co-chair the dialogue on May 24-25 with U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, who are President Barack Obama's special representatives.   Chinese Vice Premier Wang Qishan (R) meets with U.S. Federal Reserve Chairman Ben Bernanke in Beijing, capital of China, May 23, 2010.