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WELLINGTON, Nov. 2 (Xinhua) -- Chinese Vice Premier Li Keqiang and New Zealand Prime Minister John Key agreed during a meeting Monday to actively explore new ways to advance cooperation between the two countries. Li said during the meeting that in recent years, China and New Zealand have expanded cooperation in many areas such as politics, economy and culture.     He said they also have kept good communications and coordination on major global and regional issues. The smooth implementation of the China-New Zealand free trade agreement has helped bilateral trade surge, Li said. Chinese Vice Premier Li Keqiang (R) shakes hands with New Zealand Prime Minister John Key in Wellington, New Zealand, Nov. 2. 2009.    New Zealand was the first developed nation to wrap up WTO entrance talks with China, the first developed country to recognize China as a market economy, and the first developed nation to sign a free trade agreement with China.     The development of China-New Zealand comprehensive cooperative relations suits the fundamental and long-term interests of both countries and is conducive to peace, stability and prosperity in the Asia Pacific region, Li said.     He said respecting and caring for each other's core interests and major concerns are key to a stable development of bilateral ties.     Li said China is willing to work with New Zealand to actively explore mutually beneficial cooperation in sustainable development and cultural exchanges and to enhance coordination in multilateral organizations and on major international and regional issues in a bid to bring bilateral ties to a new level.     Key said New Zealand values its comprehensive cooperative relationship with China. He said the smooth implementation of the bilateral free trade agreement has benefited New Zealand a lot.     The prime minister said he looked forward to visiting China and attending the Shanghai Expo next year. New Zealand has spent five times as much on the Shanghai Expo as on the last Aichi Expo, an evidence of New Zealand's high regard and expectations for relations with China, he said.     The New Zealand government respects China's positions on issues concerning its core interests such as Taiwan, Tibet and Xinjiang, and sticks to the one-China policy, Key said.     Li arrived in New Zealand on Sunday after concluding an official visit to Australia. His three-nation tour will also take him to Papua New Guinea.

BEIJING, Dec. 10 (Xinhua) -- China on Thursday warned that the rich nations should not "shift and shirk" responsibility on climate change, and urged them to provide developing countries with funds to deal with the global issue.     "According to the United Nations Framework Convention on Climate Change (UNFCCC), developed countries have responsibility to offer financial support to all developing countries on mitigating and adapting to climate change," Foreign Ministry spokeswoman told a regular news briefing.     "Funding is one of the key issues that will determine the success or failure of the Copenhagen conference. The offer of funds is the unshirkable responsibility of developed countries," said Jiang.     The UN Climate Change Conference, which opened Monday in Copenhagen, gathered representatives from 192 countries and aimed at mapping out a plan for combatting climate change from 2012 to 2020.     Financial support is a key issue at the talks.     Reports has quoted Todd Stern, U.S. special envoy for climate change, as saying that the United States would contribute to a fund aimed at helping developing nations deal with climate change, but China would not be a recipient of financial aid as it had a booming economy and large foreign exchange reserves.     "We hope that developed countries can positively respond to reasonable requests and suggestions from developing countries, demonstrate political sincerity and fulfil their obligations rather than shift and shirk responsibility," said Jiang.     "We hope the relevant parties make efforts to make the Copenhagen conference achieve results acceptable to all sides," Jiang said.

WASHINGTON, Dec. 29 (Xinhua) --The U.S. Commerce Department said on Tuesday that it has set preliminary antidumping duties (AD)on imports of steel grating from China, a move that might escalate trade disputes between the two countries.     The department said it "preliminarily determined that Chinese producers/exporters have sold steel grating in the United States at 14.36 to 145.18 percent less than normal value."     As a result of this preliminary determination, Commerce will instruct U.S. Customs and Border Protection to collect a cash deposit or bond based on these preliminary rates.     The product covered by this investigation is a downstream steel product typically comprised of bearing and cross bars used for walkways, platforms and flooring.     From 2006 to 2008, imports of steel grating from China increased 538.44 percent by volume and were valued at an estimated90.7 million dollars in 2008, according to the U.S. Commerce Department.     Commerce said that it is currently scheduled to make its final determination in April 2010.     If Commerce makes an affirmative final determination, and the U.S. International Trade Commission makes an affirmative final determination that imports of steel grating from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order.     The new case followed U.S. President Barack Obama's recent decision to impose punitive tariffs on all car and light truck tires from China for three years, a move quickly denounced by China as a "serious act of trade protectionism."     The protectionist moves by the Obama administration will ultimately hurt the U.S.-China trade relations, which are becoming more and more important due to the global financial crisis, economists warned.

MACAO, Dec. 19 (Xinhua) -- Chinese President Hu Jintao said here Saturday that "one country, two systems" had been successfully implemented in both Hong Kong and Macao since their return to the motherland.     "The two special administrative regions have accumulated rich experience in the regard, and can learn from each other and make progress together," said the president when meeting with Donald Tsang, chief executive of the Hong Kong Special Administrative Region (SAR) and principal officials of the Hong Kong SAR government.     Hu and Tsang arrived here Saturday to attend the celebrations marking the 10th anniversary of Macao's return to the motherland and the inauguration of the third-term government of the Macao SAR. Chinese President Hu Jintao(R) shakes hands with Donald Tsang Yam-kuen, chief executive of the Hong Kong Special Administrative Region (SAR) in Macao SAR in south China on Dec. 19, 2009    The 10th anniversary of Macao's return to the motherland is a festive event not only for the Macao people, but also for the people in Hong Kong and people of all ethnic groups of the nation, said Hu.     The president spoke highly of the active efforts by the Hong Kong SAR government and people of all circles, under the leadership of Tsang, in maintaining Hong Kong's prosperity and stability amid the global financial crisis.     The president expressed his confidence that through concerted efforts of the Hong Kong SAR government and people of all circles, the Hong Kong economy can be recovered at the earliest time, people's livelihood constantly improved, and the issue of constitutional development properly handled.     He was also confident that the Hong Kong SAR government and people of various sectors will also continue to work hard together to create a good social environment of harmony and stability.     Tsang thanked the president for the encouragement and support given to him and Hong Kong, pledging that the HKSAR government will do its utmost to sustain Hong Kong's prosperity and stability.     Present at the meeting were Liu Yandong, Ling Jihua, Wang Huning, Li Jianguo, Liao Hui and Chen Bingde.     Chief Executive of the Macao Special Administrative Region Edmund Ho Hau Wah was also present at the meeting.

BEIJING, Nov. 2 (Xinhua) -- Stocks on ChiNext, the country's Nasdaq-style board for domestic start-up firms, rode on a roller coaster on the first two trading days: soaring at debut and taking a sudden turn on the second day.     Twenty stocks out of the total 28 fell by the daily limit of 10percent at Monday close, compared with an average of 106.23 percent surge on Friday, the first trading day, driven by a speculative surge for quick profits.     About 252,600 individual investors bought 423 million new shares at ChiNext on Friday, accounting for more than 97 percent of all new shares on the market.     The average price-earnings ratio for the initial public offering prices was at around 55.70 times, and then was pushed up to around 111 times, much higher than 25.98 times and 37.80 times at main boards in Shanghai and Shenzhen bourses respectively.     The bubbly opening led to warnings of risks posed by excessive speculation and inflated stock price.     Jin Yanshi, chief economist with the Sinolink Securities, said the price-earnings ratio was too high driven by the irrational buying spree. He said the frenzy would gradually cool off, and he expected a 30 percent to 50 percent drop of share prices in three to six months.     Analysts said it was typical in China that new shares would face speculation at debut and see large initial gains, followed by a continuous pullback.     China State Construction Engineering Group shares soared more than 60 percent at debut in Shanghai on July 29 from a initial public offering price of 4.18 yuan and ended at 6.53 yuan, up 56.22 percent. On Monday, its close price stood at 4.79 yuan.     It also reminded of the launch of board for small and medium-sized enterprises at Shenzhen Stock Exchange market on June25, 2004, when shares of eight new stocks rose more than 130 percent. The share prices fell by an accumulative 40 percent from the close prices on the first trading day three months later.     China made plans to launch the Nasdaq-style board for trading of start-up shares in 1999 to boost development of small and medium-sized enterprises. The plan was postponed in 2001 when the Internet bubble burst in the United States.     Since 1962, a total of 39 nations or regions have launched 75 such boards for start-up companies to raise funds. However, about half of them ended up closing due to weak market sentiment and regulatory inconsistencies, and 41 markets were operational as of the end of 2007.     The Growth Enterprise Market, kicked in Hong Kong in 1999, was a luck luster as investors were scared away by the plunge in value of technology stocks in 2001. The index fell about 90 percent since then.     By contrast, Nasdaq set up in the United States in 1971 has been a successful one, which attracted giants like Microsoft and Intel, and became the major market for overseas listing of Chinese enterprises. There are currently 116 Chinese companies listed on Nasdaq, including Baidu.     Analysts attributed the main reasons for failure of some markets to blindly lowering threshold of market entry, poor supervision and inactive transaction.     The wild fluctuation challenged the ability of regulators to control volatility in the new bourse and stirred concerns whether it would grow to be a second Nasdaq or the dazzling debut would be the last wild ride.     Shang Fulin, chairman of the China Securities Regulatory Commission said on Oct. 23 that trading on the new board may have a probability of becoming "irrational" than on other bourses.     "Preventing risk is our main task," he said. "We'll make sure risk is estimated, detected and controlled."     The Shenzhen Stock Exchange issued special suspension rules to clamp down on speculation. Trading would be suspended for 30 minutes if share price rises or falls by 20 percent from its debut level. If a stock fluctuates again beyond 50 percent of its opening price, it will be suspended for 30 minutes. The stock can also suspend a stock until three minutes before the close of trading session on a rise or drop above 80 percent.     Zuo Xiaolei, chief economist of the China Galaxy Securities, said the lesson from failure of other markets showed the key to the success of such start-up board was to strengthen supervision while completing rules, which would ward off excessive speculation and rule violations.     The government should develop more policies to attract more firms with great potential growth to make the board bigger and stronger, but threshold for access to the market should not be lowered, analysts said.