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BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.
BEIJING, Sept. 6 (Xinhua) -- Chinese Vice President Xi Jinping has urged authorities of a southeastern province to press ahead with its reforms and opening-up, and to embrace innovations in its economic development.In his four-day inspection tour in Fujian Province that began Friday, Xi spent time visiting high-tech enterprises, inquiring about villagers' incomes and held talks with university students.Efforts should be made to improve people's livelihood and solve practical difficulties for them with regard to employment, medical care, housing and children's schooling, Xi said during his visit to villages and urban communities.When visiting areas hit by June's torrential rains and massive floods, Xi urged local authorities to continue with disaster-relief work, rebuild damaged homes and agricultural infrastructures, as well as increase support for enterprises.In the coastal city of Xiamen, Xi urged government administrations in Fujian to take proactive measures to offer services to, and create "better conditions", for people from Taiwan.Further, efforts should be made to expand the scope and upgrade the level of cross-Strait exchanges and cooperation, he said.

BEIJING, Oct. 13 (Xinhua) -- Jiang Shusheng, vice-chairman of the Standing Committee of the National People's Congress (NPC) of China, met here Wednesday with a delegation from All Party Parliamentary China Group of the United Kingdom.The delegation, led by Chair Mark Hendrick, was invited by a China-UK friendship group of the NPC.
NEW YORK, Sept. 22 (Xinhua) -- Chinese Premier Wen Jiabao said on Wednesday that China and the United States should positively carry out a large-scale economic and trade cooperation.When meeting celebrities from the U.S. economic and financial community, Wen said political and strategic mutual trust should be the precondition of such cooperation.Since the establishment of diplomatic ties 31 years ago, China and the United States have developed a lot more common interests than differences. The two countries have strengthened strategic mutual trust, widened the basis for cooperation and deepened interdependence, Wen said.He said a sound and stable Sino-U.S. economic and trade relationship is in line with the fundamental interests of both countries.The total trade volume was 2.5 billion U.S. dollars when diplomatic ties were forged in 1979, while the figure has surged to over 350 billion dollars at present, Wen said, adding that it signified the bilateral economic and trade relationship has kept a sound momentum.China became the third biggest market for U.S. exports in 2009. Over the past three decades, the U.S. enterprises have altogether invested over 62.2 billion dollars in 58,000 projects in China, and in 2008 alone, their profits amounted to approximately 8 billion dollars, according to the official data provided by the Chinese government.Wen said the RMB exchange rate isn't responsible for the mounting U.S. trade deficits. The reason lies in the structure of Sino-U.S. investment and trade. Both countries should carry out a large-scale trade investment cooperation based on equality, mutual trust and mutual benefit.China has taken it as its national strategy to expand domestic demands, protect intellectual property rights and promote sustainable development, Wen said.Foreign companies in China have always enjoyed national treatment and are welcomed to play a more active role in boosting China's development, he added.During the discussion, participants from the U.S. side, including former U.S. Secretary of State Henry Kissinger and former Treasury Secretary Robert Rubin, also called for closer cooperation between the two countries, adding that China is a stabilizing factor for global economic and financial system.They said the development of a sound U.S.-China economic and trade relationship would benefit both sides. The two countries should hold dialogues in wider aspects and properly handle their frictions.During Wen's three-day visit here, he will address the UN summit on the Millennium Development Goals (MDGs), the general debate of the 65th session of the UN General Assembly, a summit of the UN Security Council member states and a high-level discussion panel on AIDS and MDGs.He will also meet some world leaders, UN Secretary-General Ban Ki-moon, Sino-U.S. friendship groups, overseas Chinese representatives and foreign media in New York.
BEIJING, Sept. 20 (Xinhua) -- Millions of Chinese people vented their anger online Monday after Japan extended its detention of a Chinese fishing trawler captain, calling for a boycott of Japanese goods and asking the Chinese government to take stronger measures."They entered our territorial waters, destroyed our property (the fishing boat), and seized our citizens. What do you call that?" said "fenghuang802" in a message posted at bbs.ifeng.com."What the Japanese seized was not Zhan Qixiong, the trawler's captain, but the dignity of the Chinese nation," said "Li Weihua" at t.sina.com.cn."We must firmly boycott Japanese goods. They are making so much money from us Chinese while hurting us so deeply. If you're a good Chinese person, you won't buy Japanese goods," said "zzwghwgh" at tianya.cn."I hope the Chinese government adopts an even tougher attitude in tackling this issue. Don't let the public lose confidence," said "huoxing" at bbs.163.com.On Sept. 7, two Japan Coast Guard patrol ships and a Chinese trawler collided in waters off China's Diaoyu Islands in the East China Sea, over which Japan also claims sovereignty. The Japan Coast Guard illegally seized the Chinese trawler and detained the fishermen and the captain on Sept. 8.The 14 Chinese crew were released last week, but the captain's continued detention sparked protests across the country Saturday, which also happened to mark the 79th anniversary of Japan's WWII invasion of China.China has summoned the Japanese ambassador five times and postponed scheduled talks on joint energy exploration in the East China Sea.A Japanese court announced Sunday the trawler captain's detention - which had been due to expire Sunday - would be extended by another 10 days, fueling the Chinese public's indignation.China's Foreign Ministry announced late Sunday Japan's refusal to release the trawler captain had "severely hurt" relations between the two countries. A ministry statement said China had canceled ministerial and provincial-level contacts with Japan, suspended talks on aviation issues, and postponed a meeting on coal."We demand the Japanese side immediately release the Chinese captain unconditionally," Foreign Ministry spokesman Ma Zhaoxu said in a statement."China will take strong counter measures if the Japanese side continues to act willfully and double its mistakes. Japan shall suffer all the consequences," Ma said.In addition, Chinese Vice Foreign Minister Wang Guangya made solemn representations to the Japanese ambassador to China, Uichiro Niwa, Sunday evening, expressing China's strong indignation.Chinese historians say the Diaoyu Islands have been part of Chinese territory since the early years of the Ming Dynasty (1368-1644).
来源:资阳报