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BEIJING, July 10 (Xinhua) -- Chinese Vice Premier Li Keqiang stressed the quality of economic growth and the transformation of the economic development mode during an inspection tour in Shandong Province from July 8 to 10.He said the country should strike a balance between keeping a stable and relatively fast economic growth, adjust the economic structure and manage inflation expectations while consolidating a continuing recovery momentum.When visiting a local granary, Li asked farmers and granary workers about grain quality and purchase prices.He said China sustained a bumper summer crop for the seventh year in a row this year and has abundant supplies of grain, which is conducive to managing inflation expectations, promoting agricultural production and raising farmers' income.When visiting local manufacturers, a logistics center and a wharf, he hoped that they continue to expand their presence in the global market.The service industry involves many sectors and can generate lots of jobs, and China has a great potential in developing the service industry, Li said.He asked local companies to adapt to market changes, raise profitability and accelerate the development of the province's service industry.Li said some uncertainties still remain in the national and global economies, although the national economy is heading towards the goal of macroeconomic regulation.He added that the country should maintain continuity and stability in macroeconomic policies and make macro control more flexible and better-targeted during the rest of the year to promote stable and relatively fast economic growth in the long run.

WASHINGTON, June 23 (Xinhua) -- China represents a huge opportunity for American businesses, and the relationship between the two countries should not be portrayed as a zero sum game, Commerce Secretary Gary Locke said on Wednesday."There are so many opportunities for trade to benefit both China and the United States," Locke said at a Senate Finance Committee hearing."I have seen those benefits first hand over the last 20 years, as Commerce Secretary, as an attorney in private practice, and as the governor of Washington State, where I helped double exports to China during my tenure."According to Locke, thanks to strong Chinese demand growth and recovery in prices of agricultural products, now the U.S. exports to China are growing faster than overall U.S. exports."We should neither underestimate the importance of the China market nor the potential it holds for American exporters who tap into it."During the same hearing, Ron Kirk, the U.S. trade representative, also hailed the opportunities provided by the China's growing economy."Thanks to China's strong recovery from the global recession, we have seen double digit growth in a variety of export sectors, ranging from high-end manufactured goods and chemical products to agricultural goods like soybeans," said Kirk.

PARIS, July 9 (Xinhua) -- China Changan Auto Group Corporation (CCAG) and French leading carmaker PSA Peugeot Citroen signed a contract Friday here on the creation of an equally owned joint venture in China.The contract was signed by Xu Bin, president of China South Industries Group Corporation, Changan's main shareholder, and Philippe Varin, chairman of the French part's Managing Board, at a ceremony attended by Wu Bangguo, chairman of the Standing Committee of the National People's Congress, Bernard Accoyer, president of the National Assembly of France.Their initial cooperation will focus on introducing the Citroen DS line in China and launching a dedicated new brand for the venture, the two companies said in a joint statement.The contract also allows for the joint venture to market, at a later date, further vehicles under the partners' other brands, Peugeot and Changan, they said.Based in Shenzhen, southeast of China, the joint venture will have initial annual production capacity of 200,000 vehicles and engines, which will meet the highest environmental standards. The contract also outlined two production lines, a specific range of vehicles by each side and a research and development center.The new joint venture will be capitalized at RMB 4 billion yuan (590 million U.S. dollars), to be shared equally by the two partners, and backed by an initial investment of RMB 8.4 billion yuan (1.24 billion dollars).The first vehicle is scheduled to be launched in second-half 2012, provided the joint venture is finally approved by the relevant authorities, the statement concluded.

BEIJING, Aug. 15 (Xinhua) -- The Agricultural Bank of China (ABC), one of China's "big four" state-owned commercial banks, won the title for the world's largest initial public offering (IPO) after selling another 3.34 billion shares at its IPO price of 2.68 yuan per share.The ABC said in a statement at the Shanghai Stock Exchange Sunday that it raised an additional 8.94 billion yuan (1.31 billion U.S. dollars) after fully exercising the over-allotment option of its Shanghai share offering. The bank has now raised 22.1 billion U.S. dollars.The previous record was set by the Industrial and Commercial Bank of China, which raised a record 21.9 billion U.S. dollars in its IPO in 2006.ABC shares rose 0.37 percent to 2.69 yuan on the Shanghai bourse Friday.The ABC is the last of the "big four" state-owned commercial lenders to go public. The other three banks -- the Industrial and Commercial Bank of China, China Construction Bank and Bank of China, are listed on both Shanghai and Hong Kong bourses.The over-allotment, or so-called greenshoe option, allows the sale of additional shares to the public if demand is high.

BEIJING, June 16 (Xinhua) -- Chinese Vice President Xi Jinping Tuesday concluded his two-day official visit to Bangladesh and started his trip to Laos, the second leg of his four-nation tour.In Dhaka on Tuesday, Xi met separately with the country's opposition leader, parliament speaker and president.In talks with Khaleda Zia, chairperson of Bangladesh's main opposition Bangladesh Nationalist Party (BNP), Xi lauded what Zia has done to promote the Sino-Bangladeshi relationship.He said China appreciates very much Bangladesh's precious support on issues concerning China's core interests like the issues of Taiwan, Tibet and Xinjiang.He said China supports Bangladesh's economic development and will continue to do its best to help the south Asian country.Zia said China is a close and friendly neighbor of Bangladesh. "Bangladesh always regards China as an important strategic partner," she said.Talking with Bangladeshi Parliament Speaker Abdul Hamid, Xi spoke highly of the comprehensive development of bilateral relations since both countries established diplomatic relations 35 years ago.He reiterated China's commitment to work with Bangladesh to push forward their comprehensive partnership of cooperation. He also called on the legislatures of both countries to further strengthen communication and promote mutual understanding.Hamid said the Sino-Bangladeshi relationship is time-honored and all the parties in the Bangladeshi parliament support developing relations with China.In talks with President Zillur Rahman, Xi said the Sino-Bangladeshi relations have stood the test of changes in the world situation and continually move forward."The cooperation in all areas is very fruitful and has brought real benefits to the two peoples and also plays an active role in maintaining regional stability, peace and development," he added.Xi said the two countries' decision to establish a "Closer Comprehensive Partnership of Cooperation" last March showed the direction for further developing bilateral relationship.Rahman said Bangladesh and China maintain good relationship. He believed Xi's visit will greatly promote the friendship between the two peoples and push bilateral relationship to a new level.On Tuesday afternoon, Xi left Dhaka for Vientiane, capital of the Lao People's Democratic Republic for an official visit.In a written speech at the airport upon his arrival, Xi said China and Laos enjoy profound traditional friendship, and established a comprehensive strategic partnership last year.Laos is the second leg of Xi's four-nation trip on June 14-24, which will also take him to New Zealand and Australia.