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SEOUL, Feb. 17 (Xinhua) -- South Korea plans to launch a joint research with China and Japan on the feasibility of a free trade agreement (FTA) among the three Northeast Asian countries, South Korea's foreign ministry said Wednesday.According to a report by the ministry, the country, which has been seeking an economic integration of the Northeast Asian region by creating favorable conditions for FTAs, will kick off a joint study with the countries, in which government officials, scholars and business representatives will participate.Along with the trilateral FTA, the country will also continue to push for settling separate bilateral trade agreements with China and Japan, the ministry said in the report.Currently, South Korea has free trade agreements with Chile, Singapore and the European Free Trade Association, as well as a similar pact with the Association of Southeast Asian Nations.Recently reaching a free trade deal with the European Union, the country also wrapped up its free trade talks with India, settling the so-called comprehensive economic partnership agreement (CEPA) in August.With respect to the free trade deal with the United States, signed in June 2007, both countries are waiting for legislative approval.South Korea is also seeking similar trade deals with Australia, Canada, and Mexico.
HEFEI, Feb. 10 (Xinhua) -- Nine people were killed in a traffic accident in east China's Anhui Province Wednesday, police said.A five-seat minibus, carrying nine people, made a head-on collision with a passenger bus with seven people onboard at 2:30 p.m. Wednesday in Mengcheng County of Bozhou City.The minibus was running on the wrong lane when the accident took place, police said.Seven of those on the minibus were killed at the site and two others died later in hospital after first-aid efforts failed.

VLADIVOSTOK, Russia, March 21 (Xinhua) -- Visiting Chinese Vice President Xi Jinping Sunday encouraged Chinese and Russian youths to make joint efforts in helping push forward the friendly bilateral ties.Xi, during his visit to the Confucius Institute of Far Eastern National University here, called on youths of the two countries to realize the aim with their youthful passion and wisdom.At the institute, which was founded in 2006, Xi watched an exhibition showing its achievement, attended a Chinese calligraphy lesson taken by Russian students, and inaugurated a bronze statue of Confucius.Xi also paid a visit to the "Ocean" all Russia children's center, where hundreds of Chinese pupils and middle-school students, victims of a devastating major earthquake in 2008, had attended a rehabilitation program.The massive earthquake struck southwestern China's Sichuan, Shaanxi and Gansu provinces on May 12, 2008, leaving some 70,000 people dead and 18,000 others missing.Xi recalled that the Russian government and people provided timely assistance to victims of the quake and President Dmitry Medvedev later invited more than 1,500 Chinese pupils and middle-school students from the quake-hit areas to Russia for rehabilitation.The Chinese vice president conveyed the sincere greetings and best wishes of these Chinese children to their Russian peers in the center, and, on behalf of the Chinese government and people, expressed his heartfelt thanks to the staff of the center.Xi said Chinese and Russian youths are the builders and successors of the future undertaking of the Sino-Russia friendship.He said the "Year of Chinese Language" would open in Russia in several days, expressing his hope that Russian youths would actively take part in related activities, and learn Chinese language, history and culture.Xi arrived in Vladivostok Saturday for a five-day official visit to Russia.
BEIJING, March 18 (Xinhua) -- U.S. Ambassador to China Jon Huntsman Thursday said the U.S.- China relationship is mature and stable enough to weather differences between the two countries.Huntsman made the remarks in his speech, "2010: The Year of Decision," at the prestigious Tsinghua University in Beijing.The ambassador thought 2010 would be "the most important year in the history of the Sino-U.S. relations," as the two sides had to take action and make real progress on pressing global challenges like economic recovery and climate change.The China-U.S relationship had a good start after President Obama took office last year.However, U.S arms sales to Taiwan and U.S leaders' meetings with the ** Lama posed problems."I've seen enough ups and downs to know that the recent turbulence we've experienced is part of a natural cycle. Our relationship is mature and stable enough to weather our differences," said Huntsman in his half-hour speech.Huntsman said he was confident the two countries would work through their differences through dialogue, and they would be able to get on with the global challenges."Together we can lay the foundation for another 30 years of economic growth and stability in our countries, and in the world," he said."I am convinced that blue skies are already on the horizon," he said.He expected the bilateral relationship would regain the "high cruising altitude" of last year by the opening of the Shanghai World Expo in May.He was also confident the two sides would make real progress on the global challenges when they met for the second round of the U.S.-China Strategic and Economic Dialogue (SED) and when Chinese President Hu Jintao visited the United States this year.
BEIJING, March 9 (Xinhua) -- China would step up work to monitor non-banking financing, said the China Banking Regulatory Commission (CBRC) Tuesday in a statement on its web-site.More focus would be put on businesses in connection with trust companies and the real estate sector to prevent banks from using non-banking financing to circumvent policies, said Liu Mingkang, chairman of the CBRC.The 2010 government loan target is 7.5 trillion yuan (1.10 trillion U.S. dollars). But in January alone, banks extended 1.39 trillion yuan in new loans -- 18.53 percent of the full-year target.More work should be done to improve risk management capacity to achieve sustainable development of the non-banking financing sector, Liu said.Non-banking financial institutions under the CBRC supervision include trust companies, finance companies, financial leasing companies, auto financing companies and money brokers.
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