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BEIJING, June 8 (Xinhua) -- The new alliance between Rio Tinto and BHP Billiton Ltd. might lead to a monopoly operation and China should be prepared for anti-monopoly measures, warned an expert. Mei Xinyu, an economist with the Ministry of Commerce (MOC), told Xinhua Monday that China should closely watch the joint venture process of the two mining giants and be ready to work with other countries to curb market manipulation when necessary, with the help of the anti-monopoly law. Rio Tinto scrapped the proposed 19.5 billion U.S. dollars of investment by Aluminum Corp. of China, or Chinalco, on Friday. The company announced a cooperative venture with BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up a joint venture to run the iron ore resources of both companies in west Australia. It was "something other than economic concern", said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission. Almost half of China's iron ore needed to be imported, more than half of which was imported from Rio Tinto and BHP Billiton, according to Shan of CISA. Colin Barnett, premier of Western Australia, told Australian media last Friday China was not on the list of approvals that the two companies needed to obtain. Internationally they would need the approval of the European Union and possibly the U.S. Justice Department, apart from investigations at nation and state level, he said. Also, Zhang Junsheng, director of the WTO Research Institute at the University of International Business and Economics in Beijing, said China might not have a say on the issue, as neither Rio Tintoor BHP Billiton had an affiliated company in China.
BEIJING, June 11 (Xinhua) -- Chinese President Hu Jintao and U.S. President Barack Obama sent messages respectively to the United States' National Symphony Orchestra (NSO) Thursday, wishing its performance in China a success. "I am pleased to extend my warm welcome to all the visiting artists from the United States," Hu said in the message. He recalled the NSO's first visit to China in 1999, saying it "left a beautiful impression to the Chinese audience." Hu hailed the Symphony's second visit to China at the 30th anniversary of the establishment of China-U.S. diplomatic relations. He said music can help to "refine sentiment of humankind and promote communication between people's hearts of different countries." "I believe that music from across the Pacific Ocean will enhance the mutual understanding between our two peoples and certainly write a new chapter in the long run of friendship between us," Hu said. He also wished the performances of the NSO a great success. In his message, Obama extended a heartfelt welcome to all those attending this performance of the NSO as it tours the People's Republic of China for the second time. "Music has been called a universal language, " said Obama. "It has the potential to build inter-cultural bridges, forge new relationships among peoples and nations, strengthen our understanding of history and tradition, and enrich our lives and our communities." "I believe that rich cultural and artistic exchanges like this one will help bring our peoples and our nations closer together," Obama stressed. The NSO, founded in 1931, is an American symphony orchestra that regularly participates in events of national and international importance, including performances for ceremonial state affairs, presidential inaugurations and official holiday celebrations. The orchestra came to China at the invitation of the Ministry of Culture. It plans to give a series of concerts in Beijing, Xi'an and Shanghai and perform the renowned works of Mendelssohn, Tchaikovsky and Wagner for the Chinese audience.
CHENGDU, Sichuan, May 11 (Xinhua) -- Chinese President Hu Jintao on Monday expressed his appreciation of the world community for their strong support and valuable aid on the wake of last year's devastating earthquake in southwest China and called for further international cooperation in tackling major natural disasters. "In face of grave natural disasters, the international community could support each other, enhance cooperation, join hands and jointly tackle the difficulties," Hu told some senior foreign diplomats who were invited to the capital of Sichuan Province on the anniversary of the quake. Chinese President Hu Jintao (C front) meets with envoys and delegates of some countries and international organizations, who come to attend the activities marking the anniversary of last year's devastating earthquake in the southwestern Sichuan Province, in Chengdu, capital of Sichuan Province, May 11, 2009. The magnitude-8.0 quake that hit southwest China, including many parts of Sichuan, on May 12, killed more than 69,000 people, left nearly 18,000 missing, more than 374,000 injured and millions homeless. Facing the grave disaster, Chinese armed forces and Chinese people worked as one and struggled in unity in rescue work and disaster relief, Hu told those diplomats during the half-hour meeting. The international community extended their helping hands as governments, groups and individuals from more than 160 countries and some international organizations offered a large number of fund and material assistance via different channels. Some countries, such as Russia and Japan, sent rescue teams and doctors to help the Chinese people in the quake-hit areas. Foreign rescuers, in total, offered medical care to more than 10, 000 injured people, found 52 bodies of the victims and took out one survivor from the debris, Chinese official statistics show. "The assistance from the international community strongly supported China's disaster relief and reconstruction efforts, showcased grand humanitarianism and sincere friendship with the Chinese people," Hu said. Hu briefed China's reconstruction work to the diplomats, saying it has been carried out in a strong, orderly and effective manner and recorded staged success. "After one year of hard working, the quake-hit areas witnessed the resumption of and development in their social and economic construction," Hu noted. The production and living conditions in those areas were improving and the people were working hard to build better lives and new homes, said the head of state. Hu thanked the international community for their support and aid, saying the money and materials have been used in various fields such as rebuilding of homes, roads, schools, hospitals and other important infrastructure. China has carried out "vigorous overseeing" and "effectively used" the donation from the international community, Hu told the 30 diplomats, including those from the United States, Russia, Japan, Pakistan and representatives from the UN International Children 's Emergency Fund and the International Federation of Red Cross and Red Crescent Societies. "We will strive to use the international donation in the places most in need," he said, labeling the cooperation between China and the world as "a good example of international cooperation in disaster relief." "Chinese government and people will step up exchange and cooperation with the world community, jointly tackle various global challenges and push for a harmonious world featuring long-lasting peace and common prosperity," Hu said. "We came here to show respect to the patriotism and wisdom of the Chinese people," said Nolana Ta Ama, ambassador of the Republic of Togo and dean of the diplomatic corp to China. The diplomats were also here to show respect to the mechanism Chinese government established in tackling the quake, he said. "China's efforts and success in fighting against the quake and disaster relief were a contribution to the world." Ama spoke highly of China's "enormous efforts in saving lives and helping the survivors to resume their lives," pledging that the world community will continue support and help the affected regions. The diplomats will visit some quake-hit spots near Chengdu on Tuesday.
MILAN, May 18 (Xinhua) -- Top Chinese legislator Wu Bangguo arrived in the Italian city of Milan on Monday for an official goodwill visit to the country. Wu, chairman of the Standing Committee of China's National People's Congress (NPC), began his tour in Italy at the invitation of Italian Senate President Renato Schifani and Chamber of Deputies President Gianfranco Fini. In a written statement released at the airport upon his arrival, Wu said China is ready to work with Italy to maintain the sound momentum of practical cooperation so as to make contributions to overcoming the international financial crisis and spurring the recovery of the world economy. Wu Bangguo (R Front), chairman of the Standing Committee of China's National People's Congress, the country's top legislature, arrives in Milan on May 18, 2009 at the start of an official goodwill visit to Italy Wu is scheduled to meet with Italian President Giorgio Napolitano, Prime Minister Silvio Berlusconi as well as heads of both houses of the Italian parliament and other Italian leaders to exchange views on bilateral relations and other regional and international issues of common concern. Wu is also to visit a research and development center of the Italian National Agency for New Technology, Energy and the Environment (ENEA), which shows China's interest in using European technologies to improve energy efficiency of its economy. After Chinese President Hu Jintao's attendance at the London G20 summit in April and Chinese Premier Wen Jiabao's Europe tour in January, Wu is yet another senior Chinese leader to visit Europe in the past few months. Against the background of the worsening global financial crisis, Wu's visit highlighted the importance that China attaches to cooperation with Europe in addressing global challenges. Italy, which currently holds the rotating presidency of the G8 group, will host a summit between the leaders of G8 nations and developing countries in June. Hu is expected to attend the meeting. Wu's visit coincides with a G8 environment ministers meeting that is to be held in Italy on May 22. China and Italy have witnessed smooth development of bilateral ties in recent years. Berlusconi visited Beijing for the Asia-Europe summit last October. Besides Milan, Wu is also to visit Rome, Florence and Venice. Italy is the final leg of Wu's three-nation Europe tour, which had already taken him to Russia and Austria.
BEIJING, July 15 (Xinhua) -- Chinese shares continued Tuesday's rising momentum to hit a new high with Shanghai Composite Index closing at 3,188.55 on Wednesday, setting the highest close since June 2008 as coal, nonferrous metal and auto shares bolstered the rise. The benchmark Shanghai Composite Index gained 1.38 percent, or 43.39 points, to 3,188.55. The Shenzhen Component Index advanced 0.68 percent, or 88.19 points, to 13,079.26. Two investors talk at a stock trading hall in Guangzhou, capital of south China's Guangdong Province, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent Total turnover jumped to 333.4 billion yuan (48.81 billion U.S. dollars) from 280.53 billion yuan on the previous trading day. Winners outnumbered losers by 537 to 302 in Shanghai and 427 to 304 in Shenzhen. Coal shares led the gains in the afternoon trading session with Jingyuan Coal Industry and Electricity Power Company Co. Ltd. and Shenhuo Coal and Power Co. Ltd. reaching the daily limit of 10 percent to close at 18.43 yuan and 28.27 yuan, respectively. Nonferrous metal shares gained as the industry forecasts a rebound in the second half of the year based on the recovery expectation of China's economy. Yuannan Copper Co. Ltd. and Jiaozuo Wanfang Aluminum Manufacturing rose by the daily limit of 10 percent to close at 24.68 yuan and 15.99 yuan, respectively. Auto shares performed well as the Chinese government unveiled details on Tuesday night of a subsidy program for auto replacement, a fresh measure to stimulate private spending and curb pollution. Chang'an Auto rose 8.67 percent to 11.15 yuan, and Guizhou Tyre advanced 6.41 percent to 13.29 yuan. Steel shares posted a widespread gain on the anticipation of increased demand from automobile, manufacturing and construction industries. Hangzhou Iron and Steel Co. Ltd. rose by the daily limit. Baosteel, the country's biggest steel maker, gained 1.46 percent to close at 8.36 yuan, setting its highest close in about a year. An old woman smiles in front of a share price screen at a stock trading hall in Shanghai, east China, July 15, 2009. The benchmark Shanghai Composite Index on the Shanghai bourse closed on Wednesday at 3,188 points, up 43 points, or 1.38 percent, from the previous close. The Shenzhen Component Index closed at 13,079 points, up 88.2 points, or 0.68 percent