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SINGAPORE, Nov. 15 (Xinhua) -- Visiting Chinese Vice President Xi Jinping met here on Monday with Singapore Prime Minister Lee Hsien Loong. Both leaders reaffirmed the close and cooperative relationship shared by Singapore and China.Xi's visit caps a series of high level exchanges as the two countries celebrate the 20th anniversary of diplomatic ties. During the meeting, Xi said China and Singapore have increased mutual understanding and expanded cooperation since the establishment of diplomatic relations. China has drawn useful experience from Singapore's development as it undertakes reform, opening-up and the modernization drive. At the same time, China's increasing national power has provided broad market and huge potential for Singapore's continuous development.The good neighborly and mutually beneficial cooperation contributes to the interests of both people, and to the peace and prosperity of Asia as a whole, he said.Xi said China highly values the Sino-Singapore relationship and is willing to join hands with Singapore to bring the bilateral relations to a new level. He noted that the two countries should maintain high level exchanges, make full use of the existing bilateral cooperative mechanisms and projects, increase sharing of governing experiences and people-to-people and cultural exchanges, strengthen cooperation in regional and international affairs.Lee agreed with Xi on his suggestions to develop bilateral relations. He said the two countries have forged close cooperation in various areas, adding that Singapore is willing to further enhance cooperation with China in bilateral and multi-lateral areas.After the meeting, Lee and Xi witnessed the signing of the following three agreements: the Memorandum of Understanding (MOU) between the National Heritage Board of the Republic of Singapore and the State Administration of Cultural Heritage of the People's Republic of China on Museum Cooperation; the Agreement on the Details of Implementation between the National University of Singapore and Suzhou Municipal Government (Suzhou Industrial Park Administrative Committee) on the Joint Establishment of the National University of Singapore (Suzhou) Research Institute; and the MOU on the Establishment of a Cooperative College by the Nanyang Technological University (NTU) in Sino-Singapore Tianjin Eco-city.At the invitation of Singapore Prime Minister Lee Hsien Loong, Xi arrived in Singapore on Sunday for a three-day official visit.

BEIJING, Nov. 26 (Xinhuanet) -- The Shanghai municipal government is making moves to enhance its mergers and acquisitions (M&As) market, a move in tune with the cosmopolitan city's ambition to make itself a global financial hub by 2020.The city will initially actively propel the construction of its financial market and M&A-related auxiliary services, especially the agents who facilitate deals, to aid these activities, said Shanghai Vice-Mayor Tu Guangshao on Thursday.He said the local government is also considering setting up a China Mergers and Acquisitions Association in Shanghai.Meanwhile, plans to open an M&A museum are also in the pipeline to help create an M&A culture in the city."We've made concrete efforts to encourage benign conditions to allow these plans to materialize," Tu said.The M&A market, in turn, will help catalyze improvements in the city's financial market functions, structures, and systems, as well as boosting badly needed adjustments to its economic structure. This will help Shanghai further speed up its plans to become a global financial center by 2020, an ambition which was approved by the State Council in March 2009.According to figures from the Shanghai headquarters of the People's Bank of China (PBOC), there are 11 financial institutions running M&A loan businesses in the city, lending more than 10 billion yuan (.5 billion) during the first seven months of this year.The central government in September issued guidelines on the promotion of enterprise M&A in six major industries, including automobiles and cement, to accelerate cross-border corporate restructuring and cater for the nation's aim of rebalancing the economy as the 12th Five-Year Plan (2011-2015) approaches."We should increase support for cross-border M&A activities, which is of great significance to China's economy and will help stimulate the Asian economic recovery," said Su Ning, board chairman of China UnionPay, the country's only credit card network.The former vice-governor of the PBOC also urged more private firms, which have actively sought areas of overseas expansion, to participate in cross-border deals using their extensive capital resources.China's private economy accounts for more than half of the nation's gross domestic product, according to Huang Mengfu, vice-chairman of Chinese People's Political Consultative Conference. "Active private investment, as such, is pivotal to the nation's economic development the non-State economy will certainly replace investment by State-owned firms as a driving force to boost the Chinese economy after the financial crisis," said Huang, who also serves as chairman of All-China Federation of Industry and Commerce.Privately owned auto maker Zhejiang Geely Holding Group in August completed its .8 billion acquisition of a stake in Volvo Car Corporation, a move which emphasizes the desire of China's cash-rich private companies to make acquisitions abroad.In addition, industry experts said that financial institutions should develop more financial innovations to supply China's overseas acquisition wave, and encourage more private equity funds to participate in cross-border deals, rather than simply focusing on pre-Initial Public Offering projects.

BEIJING, Dec. 18 (Xinhua) -- China's official Xinhua News Agency on Saturday formally launched its financial information exchange, an information sharing platform in the financial and cultural sectors to promote development of the nation's capital market.Approved by the People's Bank of China, or the central bank, it is the world's first financial information exchange.It is funded by and registered with the China Finance Corporation (CFC), owned by Xinhua.Located in the Lize business district in the southwest of downtown Beijing, the exchange has the world's largest LCD panel groups at 7,593 inches, which show real-time information in the finance and cultural industries.Member users can also get the latest information on technology transfers and business consultations.The exchange would improve Xinhua's presence and influence in the global financial information sector and enhance China's soft power in the international capital markets, said Xinhua president Li Congjun at the inauguration ceremony."It aims to be a fair, just, professional and highly efficient intermediary service platform in the financial information and cultural sectors to promote information sharing among the cultural sector, industries and the capital markets," he said."The ultimate goal is to become the world's most influential financial information and cultural industry service center."

BEIJING, Dec. 16 (Xinhua) -- Chinese State Councilor Liu Yandong met here Thursday with experts of the International Evaluation Committee on National Natural Science Foundation (NSFC)'s Funding and Management Performance.The Chinese government attaches great importance to the development of science and technology as well as the supervision and management of scientific funding, said Liu.She said by implementing the National Outline for Medium and Long Term Science and Technology Development and other supporting policies, China was gradually increasing investment in this area and continuing to promote technological innovation.Inviting prestigious international experts to evaluate the performance of scientific funding and management is very significant for the founding of the performance evaluation system as well as the development and improvement of the scientific funding system, she said.Liu said the establishment of the scientific funding system was a successful trial for the reform of China's science and technology system.She praised the positive role played by the NSFC in the past 25 years and hoped the experts would provide objective analysis and evaluation on the NSFC's Funding and Management Performance.She also asked the NSFC and other relevant departments to create favorable conditions for the experts' evaluation work.