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BEIJING, Feb. 17 (Xinhua) -- China and Russia on Tuesday signed seven agreements on a package cooperation program for energy resources. The agreements include a pipeline construction project, a long-term crude oil trading deal and a financing scheme between the China Development Bank and the Russia Oil Pipeline Transport Company, according to a source with the Chinese Foreign Ministry. Chinese Premier Wen Jiabao (R) meets with Russian Deputy Prime Minister Igor Sechin at Zhongnanhai in Beijing, China, on Feb. 17, 2009According to the agreements, the crude oil trading volume is estimated to reach 15 million tonnes, the source added. The signing ceremony was witnessed by Chinese Vice Premier Wang Qishan and visiting Russian Deputy Prime Minister Igor Sechin. During the previous talks held between the two, Wang highlighted that the strengthening of the bilateral energy cooperation between the two sides would help stabilize the two economies. "We hope the two sides will give a full play to the bilateral energy negotiation mechanism to promote the bilateral energy cooperation to score substantial outcomes," Wang told Sechin. The Russian deputy prime minister agreed with Wang's views, calling on the two countries to step up cooperation in such fields as energy and finance and make joint efforts to guarantee the contracted projects be implemented according to the agreed roadmap and schedule. The two sides also agreed that the bilateral energy cooperation already scored a "substantial step forward." Chinese Vice Premier Wang Qishan (R) shakes hands with his Russian counterpart Igor Sechin at the Great Hall of the People in Beijing, capital of China, Feb. 17, 2009. Senior Chinese and Russian officials headed by Wang and Sechin held a high-level energy negotiators' meeting here on Tuesday.In a following meeting with Chinese Premier Wen Jiabao, Sechin said that the achievements of this visit indicated the high level of the bilateral strategic partnership of cooperation. Russia would work with China to make more achievements to celebrate this year's 60th anniversary of forging diplomatic ties, Sechin said. Wen said the agreements are fruits of friendly and strategic cooperation between the two countries, adding the cooperation is of high significance for the two countries to work together to cope with the international financial crisis and advance their relations. The energy cooperation between the two nations is long-term, comprehensive and sustainable, Wen said, hoping that the related organs would act promptly to implement all the agreements. Official statistics showed that Russian-Chinese bilateral trade posted a rapid growth in the first half of last year but slowed in the second half, especially in the fourth quarter, as the global economic turmoil spread. Trade between the two countries was valued at 56.8 billion U.S. dollars last year, up 18 percent year-on-year. It was sharply down from 44.3 percent of growth rate in 2007, according to data from the General Administration of Customs. Russia's gross domestic product (GDP) grew only 5.6 percent year-on-year in 2008 because of the financial crisis and drastic decline in income from oil exports. The growth rate was 2.5 percentage points lower than a year-earlier level.
TAIPEI, April 20 (Xinhua) -- Taiwan authorities has temporarily raised the daily quota of mainland tourists from 3,000 to 7,200, to cope with the increasing number of travelers. Tse Lap-kong, a Taiwanese official, said the temporary adjustment was meant to cope with the surge of tourist numbers in the coming two weeks, a travel peak season for mainlanders. It is estimated that more than 30,000 mainland tourists could arrive in Taiwan in the coming week, with a daily average of 4,100. Daily mainland tourist arrivals were less than 3,000 in the first few months since Taiwan was opened to them as a destination last July, and the temporary change would use the unfulfilled quota from that period, Tse said. The daily quota would remain at 3,000 on a yearly average, he said. Taiwan authorities might also extend the allowed period for visiting mainland businessmen and professionals, with a final decision in late April, local media reported. Business trips would be extended from a maximum of two weeks to one month, and visiting businessmen and experts would be allowed an additional five days based on their travel schedule, according to the reports. Industrial and commercial organizations with an annual turnover of more than 30 million New Taiwan dollars (883,260 U.S. dollars) would have the number of invited mainlanders increased from 50 to 200, while the number for those below 30 million New Taiwan dollars would rise to 45 from 15, said the reports. Local authorities were also planning to shorten the approval time for applications of mainland businessmen from one month to two weeks. More than 174,000 Chinese mainland tourists visited Taiwan from July last year till early April, according to mainland statistics. The daily number of mainland visitors to the island on organized trips reached about 3,000 at the end of March, he said, adding that the number soared to more than 4,000 on April 7. The Chinese mainland and Taiwan agreed to allow mainland touri
ISLAMABAD, April 18 (Xinhua) -- A 100-member-strong youth delegation of Pakistan is to leave for China on Sunday on a week-long visit as a program of boosting exchanges between the two friendly countries. "The youths from all walks of life of Pakistan will have the chance to look at China and know more about China," said Charge d'Affairs Yao Jing of Chinese Embassy in Pakistan told youth delegation at a reception. Chinese President Hu Jintao invited 500 young people from Pakistan to visit China within five years when he paid a state visit to Pakistan in November, 2006. The program was launched in 2007. The program is aimed at "increasing mutual understanding" between the two countries and peoples, said Yao. Ullah Saif Shervani, secretary of Pakistani Ministry of Youth Affairs, expressed the hope that the delegation members could take the opportunity to learn from "friendly China" and help enhance "time-tested friendship" between the two countries. "I appreciate the Chinese government for the chance to visit," said Adil Taj, an university student in Islamabad. "We will work hard to make our own contribution to Pakistan-China friendship." The youth delegation is scheduled to visit Beijing, Urumqi and Lanzhou from April 19 to 27.
TOKYO, March 31 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), met late Monday with executives of major Japanese media, urging media of both countries to make due contributions to the advancement of Sino-Japan strategic and mutually beneficial relations. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, said that both Chinese and Japanese media need to adopt a responsible attitude to report issues concerning bilateral relations and situations of their respective countries in line with the principle of authenticity, objectivity and comprehensiveness in a bid to promote mutual understanding and trust between the two peoples. The media should also proceed from the general situation of Sino-Japan relations to boost mutually beneficial cooperation in various areas, focusing more on news reports that are beneficial to closer bilateral cooperation and providing more information that is conducive to China-Japan strategic and mutually beneficial relations, he said. Exchanges and cooperation between the media of the two nations, such as "Beijing-Tokyo Forum" and "China-Japan Media Dialogue", help to establish new channels and forms for frank, in-depth and rational dialogues as well as a platform for the two peoples to deepen their mutual understanding, he said. Executives of key Japanese media such as public broadcaster NHK,TV Asahi, The Yumiuri Shimbun, Kyodo News Agency said that it is the common aspiration of both peoples as well as their historical responsibility to promote the steady and sustained growth of Japan-China relations. They also made proposals on advancing exchanges between media of the two countries, expanding bilateral cooperation on economy and trade and improving feelings the two peoples harbor toward each other. On Tuesday, Li visited the headquarters of The Yumiuri Shimbun and NHK, inquiring in detail about the management and operation of the two Japanese media. Li arrived here Sunday for an official goodwill visit. Japan is the third leg of his four-nation tour, which has already taken him to Australia and Myanmar. Li is to conclude his visit to Japan Wednesday and leave for the Republic of Korea.
BEIJING, Feb. 26 (Xinhua) -- Chinese share prices registered a dramatic 3.87 percent drop Thursday as investor confidence collapsed ahead of the wary market performance and caused panic selling, analysts said. The decline on overseas markets also had a negative effect. The benchmark Shanghai Composite Index, which covers both A and B shares, opened higher after the government announced stimulus plans, but dipped 85.05 points, or 3.87 percent, to 2,121.52 points in the afternoon session. The Shenzhen Component Index on the smaller Shenzhen bourse dropped to 7,777.90 points, down 463.76 points, or 5.63 percent. Total turnover was 198.52 billion yuan (29.07 billion U.S. dollars), down from 209.05 billion yuan on Wednesday. Losers led gainers by 841 to 34 in Shanghai and 719 to 36 in Shenzhen. The weak performance of both the Wall Street and Hong Kong shares had cast a shadow over the mainland market, said analysts. The financial sector, which led a market rebound Wednesday, failed to support the market in afternoon trading as it dipped 4.76 percent. Shenzhen Development Bank, which almost fell by the 10-percent daily limit, ended up with an 8.91 percent drop to 13.8 yuan. China Merchants Bank, which rose by 9.57 percent Wednesday, slipped4.36 percent to 14.27 yuan. Machinery, automobiles, media and semiconductor sectors led the retreat, dropping 7.88 percent, 7.54 percent, 7.68 percent and 7.79 percent, respectively. Non-ferrous metals also fell by 7.54 percent though the government announced a stimulus package for the industry Wednesday. Chenzhou Mining, Corun New Energy, Tibet Mining, Advanced Technology and Materials, Western Metal Material, Sichuan Hongda and Xiamen Tungsten fell by the 10-percent daily limit. Yongan Forestry bucked the trend, rising by the 10-percent daily limit. The forestry sector managed to close at no more than a 2 percent decline, as domestic media reported a government stimulus plan for forestry was under discussion. China Eastern Airlines, one of the country's top three airlines, announced Thursday that its shareholders had passed a share placement plan which intended to raise 7 billion yuan from its parent company, China Eastern Group. The company will issue 1.44 billion Shanghai-listed A shares at a price of 3.87 yuan per share, as well as 1.44 billion Hong Kong-listed H shares at 1.00 yuan each, according to the announcement. The fund would reduce the company's asset liability ratio and improve its financial situation, said the company. China Eastern Airlines shares were suspended Thursday. Hong Kong shares dipped 0.85 percent to 12,894.94 points Thursday, while U.S. stocks fell Wednesday. The Dow Jones industrial average was down 80.05 points, or 1.09 percent, at 7,270.89. The Standard & Poor's 500 Index dropped 8.24 points, or 1.07 percent, to 764.90. The Nasdaq Composite Index dropped 16.40 points, or 1.14 percent, to 1,425.43.