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BEIJING, Sept. 27 (Xinhua) -- Chairman Ning Gaoning of China National Cereals, Oils & Foodstuffs Corporation (COFCO), said Sunday the corporation's total investment in the northwestern Xinjiang Uygur Autonomous Region would reach 10 billion yuan (1.46 billion U.S. dollars) over the next five years.     Ning made the remarks during his visit to the Xinjiang-based subsidiary companies of the corporation, the country's largest oil and food producer.     Currently, COFCO's accumulative investment in the region is about 5 billion yuan, focused on tomato processing, sugar manufacturing, and beverages.     Ning said the corporation would double investment over the next five years due to confidence in the region's growth potential, but did not say for which the future investment would be targeted.     In 2005, COFCO made an investment in Xinjiang's Tunhe Investment Co., Ltd. by taking over a 37.2 percent share of Tunhe. So far COFCO Tunhe has become the largest tomato ketchup producer in Asia, and the second largest in the world.

SHANGHAI, July 30 (Xinhua) -- China would firmly stick to its moderately easy monetary policy and concrete the recovery momentum of the country's economy, said vice governor of China's central bank on Wednesday. Su Ning, Vice Governor of the People's Bank of China (PBOC) made the remarks in a meeting held in the bank's Shanghai-based headquarter, saying a proactive fiscal policy and moderately easy monetary policy were crucial for sustained growth.     Despite an initial economy recovery resulted from the government's stimulus efforts in the first half, the country still faced severe difficulties and challenges from both domestic and abroad.     In the second half, the PBOC would use a set of monetary policy mix to coordinate a "reasonable" credit structure based on market rules, and to ensure more loans to major infrastructure construction and technology innovation, Said Su.     China's economy rebounded to grow 7.9 percent in the second quarter driven by a surge of fixed-asset investment backed by government's 4-trillion-yuan stimulus package on last September.     Chinese banks lent a record 7.37 trillion yuan in the first half to shore up the economy, which sank to 6.1 percent in the first quarter.

BEIJING, Aug. 11 (Xinhua) -- Prosecutors have approved the arrest of four employees of the Anglo-Australian mining giant Rio Tinto Ltd. on charges of trade secrets infringement and bribery, according to a statement of China's Supreme People's Procuratorate late Tuesday. Preliminary investigations have showed that the four employees, Stern Hu, Liu Caikui, Ge Minqiang and Wang Yong, had obtained commercial secrets of China's steel and iron industry through improper means, which had violated the country's Criminal Law, according to the statement.     Prosecution authorities also found evidence to prove that they were involved in commercial bribery. Photo taken on July 9, 2009 shows the Rio Tinto Ltd. Office in Shanghai, east China. Four employees of the Anglo-Australian miner Rio Tinto Ltd. have been arrested over alleged stealing of China's state secrets, including Stern Hu, general manager of the company's Shanghai offic. The four people, including Hu, had been detained by China's security authorities Sunday evening    Investigations have also revealed that there were suspects in China's steel and iron enterprises who were providing commercial secrets for them.     The four were detained in Shanghai in early July on charges of stealing China's state secrets.          Stern Hu, an Australian citizen of Chinese origin, was general manager of the company's Shanghai office and was in charge of the iron ore business in China.     Hu was a long-standing employee of Rio Tinto and had lived in Shanghai for a number of years with his wife, who is also an Australian citizen.     The other three, who also worked in the Shanghai office, are Chinese employees of the company.

WASHINGTON, Oct. 7 (Xinhua) -- U.S. President Barack Obama will visit China in mid-November in a four-nation Asia trip from Nov. 12 to 19 which will also take him to Japan, Singapore and the Republic of Korea, the White House said on Wednesday.     Obama is due to be in Japan on Nov. 12-13. Following his visit to Tokyo, Obama will attend the Asia-Pacific Economic Cooperation (APEC) summit in Singapore before heading to China and South Korea, White House spokesman Robert Gibbs told reporters. White House spokesman Robert Gibbs speaks during a routine press briefing at White House in Washington D.C., capital of the United States, Oct. 7, 2009. U.S. President Barack Obama will visit China in mid-November in a four-nation Asia trip from Nov. 12 to 19 which will also take him to Japan, Singapore and the Republic of Korea, the White House said on Wednesday    Obama will visit Seoul, South Korea on Nov. 18-19, Gibbs said.

UNITED NATIONS, Sept. 23 (Xinhua) -- Chinese President Hu Jintao on Wednesday pledged to further assist the development of other developing countries when addressing the UN General Assembly during its the general debate.     "As a responsible and major developing country, China has always made common development an important aspect of its foreign policy," Hu said in his speech.     "We have made great efforts to provide support and assistance to other developing countries, and fulfilled our commitment under the UN Millennium Declaration," he said.     To further assist other developing countries, the Chinese president said, China will increase support for those hit hard by the global financial crisis, earnestly implement relevant capital increase and financing plans, intensify trade and investment cooperation and help raise their capacity for risk-resistance and sustainable development.     "China will continue to implement the measures announced at the UN High-level Event on Millennium Development Goals (MDGs) to assist other developing countries in speeding up development and facilitate the attainment of the MDGs," he added. Chinese President Hu Jintao addresses the 64th United Nations General Assembly at the UN headquarters in New York, Sept. 23, 2009. The 64th session of the UN General Assembly kicked off its general debate on WednesdayOn China's assistance to Africa, Hu said, China will follow through on the measures announced at the Beijing Summit of the Forum on China-Africa Cooperation, increase assistance to Africa, expand trade and investment, provide human resources and technological support for African countries in such areas as agriculture, health, education and disaster preparedness.     Hu also promised China's efforts to promote regional monetary and financial cooperation, maintain financial and economic stability and push forward financial cooperation and trade in the region.     He said China has so far provided assistance to more than 120 countries, canceled debts for 49 heavily-indebted poor countries and least developed countries, and extended zero-tariff treatment to commodities from over 40 least developed countries.     Hu noted that, since the outbreak of the global financial crisis, China has kept its currency's exchange rate basically stable, which helps maintain healthy international trade.     China has taken an active part in the trade finance program of the International Finance Corporation and provided financing support to the International Monetary Fund, which will be mainly used to help developing countries, Hu said.     "We have established the China-ASEAN Investment Fund, provided credit support to the members of the Shanghai Cooperation Organization, and actively contributed to the building of an East Asian foreign currency reserve pool," he added.

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