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SHANGHAI, Nov. 16 (Xinhua) -- U.S. President Barack Obama said here Monday that the biggest threat to U.S. security is the terrorist groups like al-Qaida. "I do continue to believe the greatest threat to United States security are the terrorist networks like al-Qaida," Obama said during a dialogue with Chinese students in Shanghai. He said U.S. troops moved into Afghanistan because al-Qaida wasbeing hosted by the Taliban in Afghanistan but the terror group has now moved over the border of Afghanistan and has networks with other extremist groups throughout the region. The United States now has 68,000 troops fighting in Afghanistan. Obama is going to decide on whether to grant a request by the top U.S. commander in Afghanistan, Stanley McChrystal, to send 40,000 more troops. "I do believe it is important for us to stabilize Afghanistan, so that the people of Afghanistan can protect themselves, and they can also be a partner in reducing the power of those extremist networks," he said. The U.S. president admitted that defeating al-Qaida is a difficult task and is not just a military exercise. Obama flew into Shanghai from Singapore on Sunday night to kickoff his four-day visit to China, his first trip to the Asian country since taking office in January. Later Monday, he will fly to Beijing, where he will hold talks with Chinese President Hu Jintao and meet with other Chinese leaders.
UNITED NATIONS, Jan. 1 (Xinhua) -- China on Friday assumed the rotating presidency of the UN Security Council for the month of January. China will perform its duty as the rotating Council president in an objective and fair way and work with other Council members to maintain international peace and security, said Zhang Yesui, China's permanent representative to the United Nations, in a recent interview. China will do its utmost to make sure that the Security Council works in a smooth and efficient way, Zhang added. The Security Council presidency rotates among the Council members in the English alphabetical order of their names. Each president holds office for one calendar month. China previously assumed the presidency in October 2008. As a permanent member of the Security Council and the largest developing country in the world, China fully participates in the work of the United Nations and plays a constructive role, Zhang said. Under the UN Charter, the Security Council has the primary responsibility for the maintenance of international peace and security in the world at large. The Council has 15 members: five permanent members -- China, France, the Russian Federation, the United Kingdom and the United States -- and 10 non-permanent members elected by the UN General Assembly for two-year terms. Also on Friday, Bosnia and Herzegovina, Brazil, Gabon, Lebanon and Nigeria began their two-year terms on the 15-nation Council. The five new Security Council members were chosen after running uncontested races for the non-permanent seats, and they were duly elected by the 192-member General Assembly during a secret ballot at the United Nations Headquarters in New York in October 2009. The five countries joined Austria, Japan, Mexico, Turkey and Uganda, whose terms on the Council end on Dec. 31, 2010.

BEIJING, Nov. 9 (Xinhua) -- China Merchants Securities, a leading domestic brokerage firm, announced Monday that it has set its A-share initial public offering (IPO) price range between 26 yuan (3.8 U.S. dollars) and 31 yuan. The Guangdong-based brokerage is scheduled to issue no more than 358.5 million shares, it said in a statement to the Shanghai Stock Exchange Monday. The IPO price translates into a price to earnings (P/E) ratio between 47.18 and 56.26 times. The subscription of the company starts on Tuesday, said the company.
CHENGDU, Nov. 23 (Xinhua) -- China will send two giant pandas to Australia Friday for a cooperative research program. The four-year-old male panda "Wang Wang" and three-year-old female panda "Fu Ni" will stay in Australia for 10 years, said Zhang Hemin, chief of the Wolong Nature Reserve Administration in southwest China's Sichuan Province. "Wang Wang", which means "net" in Chinese, is 119 kg and "Fu Ni", which means "lucky girl", is 90 kg. They were quarantined on Oct. 21 for their trip to Australia. "Wang Wang" and "Fu Ni" were transferred to the Bifengxia Giant Panda Breeding Center in Ya'an City after the Wolong Giant Panda Protection and Research Center where they were living were destroyed in the May 12 massive earthquake in 2008. The Australian side had sent veterinaries and feeders of the two pandas to China for training. It had also set up a 10 hectares bamboo planting base, Zhang said. The two pandas will receive a body check Tuesday before their departure. China and Australia made an agreement in 2007 on the cooperative research. Giant pandas, known for being sexually inactive, are among the world's most endangered animals due to shrinking habitat. There are about 1,590 pandas living in China's wild, mostly in Sichuan and the northwestern provinces of Shaanxi and Gansu.
BEIJING, Nov. 18 (Xinhua) -- China's economy is expected to grow by 9 percent next year on robust property and automobile sectors, chairman of CCXI, a China-based credit rating agency said Tuesday. Mao Zhenhua, the chairman, also forecast the country's GDP growth this year would expand by as much as 8.8 percent. He added China's economic growth for the next ten years would slightly fall from the peak in 2010 to around 7 percent around 2020, still a relatively fast pace compared to other countries. But he cautioned the heavy reliance on exports and investment as major drivers to the Chinese economy has not changed currently, and that the structure for economic growth has not been optimized. Mao made the remarks while addressing a conference that also shared outlooks for China's property market, and its automobile industry for the next year. "China's property market is to remain steady in the next 6 or 12 months due to strong underlying housing demand in the country," said Kaven Tsang, assistant vice president of Moody's Investors Service Hong Kong Limited. He attributed strong housing demand to rapid economic growth, expanding urbanization and rising living standards in the country. Reduced inventory after strong sales over the past few quarters and improved liquidity of developers are also preventing a substantial decline in the property sector, he said. According to the National Bureau of Statistics (NBS), housing sales in China reached 2.75 trillion yuan (403 billion U.S. dollars) in value for the first three quarters this year, a year-on-year increase of 73 percent. Amid weak exports, the Chinese government will also continue to promote domestic consumption and see fixed-asset investment increase, with the property sector remaining "central" to the Chinese economy, said Tsang. NBS figures show investment in the real estate sector in China posted a 28.4 percent growth in October this year. The CCXI also forecast China would continue to see robust growth in auto sales in 2010, driven by the steady development of national economy, rise in individual income and stronger demand from China's central and west regions. Chang Haizhong, senior CCXI analyst, said "cars have great market potential in the central and west regions which will become a new growth point for auto industry." For example, sales of heavy trucks are expected to grow considerably next year, boosted by the government's massive fixed-asset investment, fast development of logistics and expansion of expressway network. "Bus and sightseeing coach sales will also rise next year, as the government is determined to step up development of public transit systems, and people show more willingness to travel," Chang said. He also said auto joint ventures in the country would try to seek a bigger share of middle and low-end market while keeping the dominant position in high-end market next year, posing a threat to domestic self-owned automakers. Chevrolet, an arm of Shanghai GM, introduced SAIL, a new car model last week. Sales of the new model, priced less than 60,000 yuan, would start in January next year. In the first ten months this year, auto sales in China broke the 10 million mark to 10.89 million units, up 36.23 percent from a year ago, surpassing the United States as the world's largest auto market.
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