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CAPE TOWN, March 28 (Xinhua) -- China's top political advisor Jia Qinglin on Sunday arrived in Cape Town of South Africa, for an official visit to the country at the southern tip of Africa.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, the country's top advisory body, was making the visit at the invitation of the National Council of Provinces of South Africa.South Africa was the last leg of Jia's ten-day African tour which already took him to Cameroon and Namibia. Jia Qinglin (2nd L), chairman of the National Committee of the Chinese People's Political Consultative Conference, is welcomed by a South African senior official upon his arrival at the airport in Cape Town of South Africa, March 28, 2010. Jia Qinglin on Sunday arrived in Cape Town of South Africa, for an official visit to the country at the southern tip of Africa.In a written statement issued upon his arrival at the airport, Jia said China-South Africa relationship had advanced in an all- round way since the two countries established diplomatic ties in 1998.The two countries, which forged the strategic partnership on equality, mutual benefit and common development in 2007, have developed deeper political trust, achieved fruitful results in trade, culture, education, science, and worked closely on international issues, Jia said. Jia Qinglin (R Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, is welcomed upon his arrival at the airport in Cape Town of South Africa, March 28, 2010. Jia Qinglin on Sunday arrived in Cape Town of South Africa, for an official visit to the country at the southern tip of Africa.Jia added it was in the fundamental interests of both countries and their people to seek a stronger China-South Africa relationship, which will help boost regional and world peace and development."I believe the visit will increase understanding, expand common ground, boost exchanges and deepen cooperation in a bid to cement bilateral strategic partnership," Jia said.Jia said his visit was aimed at boosting the understanding and friendship between the two nations and consolidating the cooperation in all fields.During his stay in Cape Town, Jia will hold talks with Chairman of South African National Council of Provinces Mninwa Mahlangu.Jia will also travel to Johannesburg and Pretoria where he will meet with South African President Jacob Zuma.

BEIJING, April 5  --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.

BEIJING, May 24 -- The United States yesterday pressed China to give "fair access" for foreign companies.At the same time, China stressed the risks both economies faced from Europe's debt woes, ahead of top-level talks in Beijing.Speaking in Shanghai, a day before the start of the Strategic and Economic Dialogue, US Secretary of State Hillary Clinton stressed the importance of American economic concerns for relations with China."In the coming days, officials at the highest levels of our two governments will be discussing issues of economic balance and competition," Clinton said in a speech given in a vast hangar at Pudong International Airport.U.S. Secretary of State Hillary Clinton gives a speech during her visit to Boeing Shanghai Aviation Services Co., Ltd. in Shanghai, east China, May 23, 2010."American companies want to compete in China," she said in front of a Boeing 737. "They want to sell goods made by American workers to Chinese consumers with rising income and increasing demand."Clinton's remarks underscored how large economic concerns will loom at the two-day meeting, jostling for attention with other issues, including North Korea.The US annual trade gap with China fell to US6.8 billion in 2009, down from a record US8 billion in 2008. But the Obama administration is keen to lift exports and employment, and the deficit remains a friction point.In comments published yesterday, China's Finance Minister Xie Xuren said cooperation with the US was all the more important in the face of the European debt crisis."At present, risks from European sovereign debt have increased factors of instability in the course of global economic recovery," Xie wrote an essay published in the Washington Post and on his ministry's Website.China and the US must "each protect macro-economic stability and strengthen macro-economic policy coordination, to consolidate the trend towards global economic recovery," Xie wrote.Xie's remarks jarred those of a senior US Treasury Department official who said ahead of the talks with China that Europe's crisis should have only minimal impact on the global recovery.There has been speculation that China may delay letting the yuan rise in value out of concern that its exports to Europe will suffer.

BEIJING, April 1 (Xinhua) -- Chinese Premier Wen Jiabao has pledged to further reform of income distribution to narrow the gap between rich and poor and secure social stability.In an article published Thursday in Qiushi, or "Seeking Truth," the official magazine of the Communist Party of China (CPC) Central Committee, Wen said greater efforts were needed to build a rational income distribution structure."If the income gap continues to widen, it will pose a major threat to our economic development and social stability," Wen wrote. "We are poised and capable of gradually resolving this problem with a sound momentum of economic and social development and greater sustainability in various fields."Complaints have been growing about how the income growth of many Chinese was lagging behind the rise in state fiscal revenue. Low incomes have been blamed for dragging down consumer spending."We will not only make the 'pie' of social wealth bigger by developing the economy, but also distribute it well on the basis of a rational income distribution system," Wen wrote.