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NINGBO, Zhejiang, May 16 (Xinhua) -- Internet of Things (IOT) -- which refers to digital networks of physical objects -- has huge potentials but many challenges lie ahead, said scientists, entrepreneurs and government officials on Sunday.IOT has become a catchword for those at the Information and Communication Technology and Urban Development Forum held in east China's coastal Ningbo this weekend on the sidelines of the Shanghai Expo; from ministers to mayors, scientists to entrepreneurs, keynote speakers to audiences.China should accelerate the development of the IOT industry so as to create a new platform for economic growth, said Li Yizhong, Minister of Industry and Information Technology in his opening speech to the forum.The first theme forum of the Shanghai World Expo is closed in Ningbo, a coastal city of east China's Zhejiang Province, May 16, 2010. The two-day forum focusing on information and communication technologies (ICT) and urban development attracted over 600 participants including renowned scholars and entrepreneurs.Minister Li's words were echoed by Zhao Hongzhu, communist party chief of Zhejiang Province, who called for more efforts to develop such key concepts as IOT, which, in his words, "present a brilliant future for urban life."In what's called Internet of Things, networks of real-world objects are linked to the Internet and interact through web services. As more objects are embedded with sensors, giving them the ability to communicate, and networked together, the possibilities are enormous, potentially resulting in new business models, improved business processes and reduced costs and risks, according to a March 2010 report by McKinsey & Co..

BEIJING, May 31 (Xinhua) -- The People's Bank of China (PBOC), China's central bank, issued a circular Monday requiring banks to curb lending to energy-intensive industries, a move echoing government energy-saving and pollution-reduction measures.Banks must strictly review loan applications from companies in energy-consuming industries, the circular said, adding that only bank headquarters can extend loans to finance capacity expansion projects in energy-guzzling sectors.It also banned new credit to any projects not complying with government energy-saving policies.According to the circular, banks should conduct an overall review of loans to energy-intensive industries and report the results to the central bank by the end of June.The State Council, China's Cabinet, urged in early May all government departments make efforts to cut emissions and conserve energy to meet the country's target set in the 11th Five-Year Plan (2006-2010), according to which China will cut its per unit GDP energy consumption by 20 percent compared with 2005 levels by the end of 2010.

CANBERRA, May 14 (Xinhua) -- Visiting General Guo Boxiong, Vice- Chairmen of China's Central Military Commission met the Australian Chief of the Defense Force Air Chief Marshall Angus Houston on Friday.Guo said China and Australia have extensive range of common interests and hold responsibilities in safeguarding regional stability and promoting common development.The two countries are important trading partners, maintaining good dialogues and consultation in responding to international financial crisis, climate change and other major issues such as the Asia-Pacific regional cooperation, he added.According to Guo, defense and military relations between China and Australia in recent years are more matured, more dynamic and the cooperation has great potential and bright prospects for development.In order to better response to the diversity of regional and global challenges, the two sides need to further strengthen communication, enhance mutual trust, consolidate the basis of mutually beneficial cooperation, the Chinese General said.Houston said that together with the increasing national strength, China will play a greater role in global and regional affairs. Australia hopes to strengthen cooperation with China in communication and cooperation, jointly safeguarding regional peace and stability.He said that meanwhile, the Australian government is satisfied with the current bilateral defense and military relations.Guo arrived on Tuesday in Australia for an official visit, and held talks with Australian Defense Minister John Faulkner and met with Australian Foreign Minister Stephen Smith.

teral trade surpassed 6 billion U.S. dollars in 2009.

BEIJING, April 8 (Xinhua) -- Top Chinese legislator Wu Bangguo met here Thursday with President of Malaysian Senate Wong Foon Meng, vowing to enhance parliamentary exchanges.Wu, chairman of the Standing Committee of the National People's Congress (NPC), said China and Malaysia were close neighbors, and the bilateral ties had further developed since the two countries forged the strategic and cooperative partnership in 2004.The two countries had strengthened political trust, economic and trade cooperation, personnel exchanges, and coordination in international and regional affairs, he said.Malaysia is a member of the Association of the Southeast Asian Nations(ASEAN) and forged diplomatic ties with China in 1974."Expanding relations with Malaysia is in the interest of the two peoples and conducive to regional peace and prosperity, and will push forward the cooperation between China and the ASEAN," Wu said.He noted the NPC had maintained sound relations with the Malaysian parliament, but still closer cooperation and exchanges in different forms were needed.Wong Foon Meng voiced his hope to promote exchanges between the parliament members of the two countries.Wang Zhaoguo, vice chairman of the NPC Standing Committee, also met with Wong Foon Meng Thursday afternoon.