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SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company.     The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai.     The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company.     The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects.     Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies."     The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company.     The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent.     Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.

BEIJING, Dec. 2 (Xinhua) -- Heavy fog faded in most Chinese provinces after a cold front from Siberia moving south cleared up the sky on Wednesday. As a result, road, river and air traffic was finally restored after days of disruption in many parts of China.     Traffic on the Beijing-Hangzhou Grand Canal resumed at noon after 11 hours of closure, said an official from Yangzhou City of east China's Jiangsu Province Wednesday.     Nearly 100 vessels stranded in Yangzhou have entered the Yangtze River. Highrise buildings are seen shrouded by heavy fog at the financial district of Shanghai, east China, Dec. 2, 2009    But sea areas off Shanghai were still shrouded by heavy fog. In the first three quarters of this year, Shanghai Maritime Safety Administration reported 32 accidents in its administrative area, in which 13 vessels were wrecked and 20 people went missing. Direct economic loss was estimated at 39 million yuan (about five million U.S. dollars).     The administration reminded passing vessels to be ready for emergencies because of the bad weather.     Visibility in east China's Shandong Province rose to more than 1,000 meters. Delayed flights and closed highways had been resumed, said the provincial meteorological bureau.     However, the heavy fog staggered in east China's Anhui Province, north China's Shanxi Province and northwest China's Shaanxi Province on Wednesday.     Visibility was 200 to 50 meters in most parts of Anhui, where police had to reinforce traffic control on highways.     Two of the three flights canceled on Tuesday in Hefei City tookoff Wednesday, though some other flights were delayed.     Visibility in Shanxi was 100 to 20 meters on Wednesday. Flights at the Airport of Yuncheng in Shanxi were postponed.

BEIJING, Nov. 18 (Xinhua) -- Chinese Premier Wen Jiabao will meet here Wednesday with US President Barack Obama, who is on his first state visit to China since his January inauguration.     They will have a working lunch before Obama's sightseeing visit to the Great Wall in the north suburb of the Chinese capital, which will be another chance for the US head of state, who toured the Imperial Palace Tuesday, to learn more about the ancient Chinese civilization.     Obama will conclude his fist visit to China and fly to the Republic of Korea, the last leg of his four-state Asian tour, in the afternoon.     He arrived in China's economic hub Shanghai Sunday night to kick off this visit as guest of his Chinese counterpart Hu Jintao.     Hu held talks with him in Beijing on Tuesday and they met international reporters for about 40 minutes after the talks, both pledging to further bilateral ties.     Top Chinese legislator Wu Bangguo also met Obama on Tuesday, several hours before a state banquet in the Great Hall of the People in downtown Beijing.     In a joint statement issued on Tuesday, the two sides spoke highly of the tremendous development achieved since the two countries established diplomatic relations 30 years ago and reached consensus on further bilateral ties. 

SHANGHAI, Dec. 4 (Xinhua) -- Canada would like to further economic ties with China, said visiting Canadian Prime Minister Stephen Harper here on Friday.     Harper announced the launch of four new trade offices in China by the Canadian government in cooperation with the Canadian Commercial Cooperation at a welcome banquet here Friday night. Canadian Prime Minister Stephen Harper delivers a speech at the Canada-China 100-year-trade banquet in Shanghai, east China, Dec. 4, 2009.Addressing the banquet, Harper said, this announcement is a concrete step Canada is taking toward enhancing and expanding its economic ties with China.     The new offices are in addition to the two International Trade Minister Day launched in April, said Harper, adding that "Together, they will enhance our ability to support even more commercial links in exports, investment and innovation between our two countries."     According to Harper, since 2005 alone, two-way merchandise trade between the two countries has grown steadily each year by an average of more than 14 percent. During this period, Canadian exports to China have grown by more than 3 billion dollars.     The total bilateral trade is now valued at over 53 billion dollars. China is Canada's second largest merchandise trading partner and third largest export market. Canadian Prime Minister Stephen Harper delivers a speech at the Canada-China 100-year-trade banquet in Shanghai, east China, Dec. 4, 2009Harper said, to help growing this relationship, the Canadian government has recently dedicated over a billion dollars into trade infrastructure on the pacific coast--the Asia-Pacific Gateway, which is an integrated system of ports, airports, road and rail connections that link Asia deep into the heart of the North American marketplace.     Facing the economic downturn, both Canada and China have been strong contributors to the collective efforts of the G20 to foster a genuine, global recovery, said Harper, noting that both countries need to keep voices strong and united at the G20 table.     "I look forward to welcoming President Hu to Canada next year when we host the next meeting of G20."     In June 2010, Canada will host the G8 summit in the Muskoka region of central Ontario and also co-host a G20 summit there with the Republic of Korea.     Harper also stressed the importance to remove protectionist barriers and ease trade restrictions, saying that pursuing freer trade is the most effective "antidote" to the current crisis.     By announcing Canada's second-round funding under the Asia-Pacific Partnership on Clean Development and Climate, Harper vowed to enhance energy cooperation with China.     With the second phase of projects, Canada will have invested in twenty-eight clean technology projects worldwide, including fourteen new projects in or of benefit to China, said Harper.     The welcome banquet, co-hosted by Canadian Chamber of Commerce in Shanghai and Canada-China Business Council, was held to mark the one hundredth anniversary of the launch of Canada's Trade Commissioner Service in Shanghai.

BEIJING, Nov. 27 (Xinhua) -- Days after the United States announced to cut its carbon dioxide emissions by 17 percent from 2005 levels by 2020, China promised to slice carbon intensity in 2020 by 40 to 45 percent compared with 2005 levels.     The respective policy movements of both China and the U.S., the biggest two emitters in the world, won global attention, if not instant applause. The early signs of the concerted efforts could be sensed after the two countries, the biggest developed and developing economies, released a joint statement on Nov. 17 during U.S. President Barack Obama's first China visit.     The two sides, according to the joint statement, had a "constructive and fruitful dialogue" on the issue of climate change.     It also said that the two sides were determined, in accordance with their respective national conditions, to take important mitigation actions.     The policy announcements from the two countries came just as the international community was worried about a possible stalemate at the United Nations Climate Change Conference in December in Copenhagen, Denmark.     Although not required by the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol for quantitative greenhouse gases (GHGs) emissions cut, China, defined by the United Nations as a developing country, still puts a drastic slash of its GHGs emissions in the coming ten years, even at cost of lowering its own economic development speed.     Economists estimated that China might double its current gross domestic product (GDP) by 2020. A 45-percent reduction of carbon emissions per unit of GDP means China would emit slightly more carbon dioxide than current levels.     At the same time, the Chinese government voluntarily set "the binding goal," which is to be incorporated into China's mid- and long-term national social and economic development plans.     It's much more than a developing nation is expected to offer, out of responsibility of and sincerity to addressing the common challenge faced by the international community.     Held by the UNFCCC accountable for contributing most of the total global carbon dioxide emissions, which were assumed to warm the planet and consequently result in natural disasters, many industrialized countries dodged their responsibilities of cutting emissions to levels that meet requirements of the Kyoto Protocol and the Bali Roadmap.     The United States, in spite of announcing a meaningful emissions cut of 17 percent, still lags far behind what the UNFCCC requires developed countries to behave.     In the Sino-U.S. joint statement, the two sides were committed to reach a legal agreement at the Copenhagen conference, which includes emissions reduction targets of developed countries and appropriate mitigation actions of developing countries on the basis of the principle of common but differentiated responsibilities and respective capabilities.     The U.S. and China also agreed substantial financial assistance to developing countries on technology development, promotion and transfer, which was largely invalid in the past years.     As China takes the lead to exemplify how a developing country, with the world's biggest population, could do to a better future of the world, it is now the developed world's turn to show their sincere care for a greener Earth.

来源：资阳报