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LONDON, March 13 (Xinhua) -- The Center for Creative Business in London hosted on Thursday Creative Exchange with China, exploring the possibilities of business ventures between the two countries in the creative industry.     The conference, which is aimed to help creative businesses from both China and Britain to get to know each other before exploring the business potentials of the rising industry, has attracted some 200 creative entrepreneurs, creative business managers and executives, policy makers, practitioners academics and researchers.     In his keynote speech delivered at the conference, Michael Bichard, rector of the University of the Arts London, said within the next two years, Britain's creative industries sector is expected to overtake the financial sector as the country's most significant economy. At the same time, China will move ahead of Germany as the world's third largest economy.     "If we remain isolated, we would not be able to achieve our creative goals of building global brands. To make collaborations effective, it takes much deeper look into the respective industries instead of superficial ones," he said.     Bichard, who is also chair of Design Council UK, hopes that Design Council would cooperate with China not only academically, but across the business to develop tomorrow's creative industry.     However, Bichard noted that creative exchange is not just about money, it's about understanding. The Olympics is a strong link between Beijing and London. Bichard urged for enforcing the bond, saying "two countries together can achieve great things."     Professor Xiong Chengyu, director of National Research Centre of Cultural Industry at China's prestigious Tsinghua University, clarified the conceptual difference of cultural industry in China and creative industry in Britain.     "It has only been 5-6 years since we began to talk about the cultural industries in China. In the past in China, we regarded culture as a kind of spiritual course which is focused on social benefit rather than economic benefit. The Chinese government realized how important it is to the national economy and has already carried out a number of policies to help and promote development," he said.     Wang Yongzhang, director general of cultural industries at China's Ministry of Culture, elaborated on China's policy improvement on the cultural industry over the years to serve as a backgrounder to the audience.     Representatives from British and Chinese creative companies also shared information about their experience in China during panel sessions.     The afternoon session dwelled on three topics with participants discussing Investing in China, Investing in UK and Managing Creativity in China.     The one-day conference sponsored by the Center for Creative Business, University of the Arts London and London Business School, is part of China Now, a six-month celebration of Chinese cultural and history across Britain.

NANJING - The legislature of the eastern province of  Jiangsu has amended the law to clearly define sexual harassment and allow complainants to sue.The Standing Committee of the Jiangsu Provincial People's Congress on Thursday passed the revised Jiangsu Provincial Measures for Implementing China's Law on Protection of Women's Rights, saying "sexual harassment of women in the form of spoken and written language, images, electronic information and bodily gestures is prohibited." The measures allow those who claim that they have been harassed to report such cases to employers, authorities and the police, which must prevent or stop such behavior. Women can also sue those they contend harassed them.Although sexual harassment was included in an amendment of the national law in 2005, the legislation didn't clearly define harassment, which made it difficult to prove in court, said Wang Lasheng, vice chairman of the Legal Affairs Committee of the Jiangsu Provincial People's Congress."A clear definition of the forms of sexual harassment will definitely help law enforcement and improve victims' awareness of self-protection," said Wang.Defining sexual harassment at the local level was a welcome attempt to supplement the national law, said Wang, adding that similar statutes have been passed in Shanghai, Zhejiang, Jiangxi, Shaanxi and Anhui provinces and Ningxia Hui Autonomous Region. These laws allow complainants to file claims or sue.

Soaring global oil prices have led to small refiners drastically cutting down on production - forcing Sinopec to fill the void.Since the prices of refined oil products are set by the central government, the refiners - private or local-government-owned - find it unprofitable when the price of crude is as high as is now. Crude prices reached a record .80 a barrel at the New York close on Monday."Surging international crude prices are exerting mounting pressure on the local market (by discouraging small refiners). We are already running at full capacity to ensure fuel supply," Mao Jiaxiang, vice-president of Sinopec Economics & Development Research Institute, told China Daily Tuesday.Sinopec is Asia's top refiner, feeding the bulk of fuel consumption in China. But due to capacity limitations at its plants, there is a rising gap between demand and supply.Mao pointed out that fuel shortages are mainly triggered by the production drop at medium- and small-sized refiners scattered around the country, which contribute 5 to 10 percent of the country's supply.The National Development and Reform Commission (NDRC), the top economic planner, keeps a tight lid on domestic fuel prices to fend off inflation, only allowing refiners to set prices within an 8 percent band of a government-imposed benchmark.Sinopec will have more refining capacity on stream next year, which will help ease supply pressure, Mao said.This year, it is believed Sinopec may import more oil products from abroad if necessary. The company imported 60,000 tons of gasoline in September and sold it at a lower price.Gasoline retailers raised prices by 2.92 percent in the first nine months after crude costs climbed, the NDRC said in a statement on its website on Monday.However, the NDRC said last month that energy prices will not be raised "in principle" this year after the consumer price index (CPI) hit a 10-year high of 6.5 percent in August."As global crude prices and the CPI stay at high levels, it is possible for the authorities to seek a compromise by not raising fuel prices but giving subsidies to major refiners at the end of the year," said Niu Li, an economist with the State Information Center affiliated to the NDRC.

BEIJING, March 3 -- The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said on Sunday. A China Development Bank office in Shanghai. The China Development Bank (CDB) will mainly serve medium- and long-term national development strategies even after it is transformed into a commercial bank, a senior executive said March 2, 2008.      The CDB cannot turn into a commercial bank immediately since it does not accept individual deposits now, but it will start doing so in the future, said Liu Kegu, vice governor of the bank.     The CDB is one of the three policy lenders in the country.     The CDB at the end of last year received the first 5 billion U.S. dollars of the planned 20-billion-dollar re-capitalization from Central Huijin, an investment arm incorporated into China Investment Corp (CIC).     Liu said the capital injection will not affect the CDB's credit rating since it has the best asset quality among domestic banks. It has a non-performing loan ratio below 1 percent - much lower than that of major commercial banks.     The CDB will retain its long-term credit business and the right to issue financial bonds in the interbank market.     The lender has generated controversy in the banking industry by increasingly becoming involved in commercial business in recent years.     Earlier reports said that the CDB is planning to expand into financial leasing to diversify its business. It is reported to be on the verge of acquiring Shenzhen Financial Leasing Co Ltd for 7 billion yuan, by taking a 90 percent stake.

BEIJING, March 26 (Xinhua) -- Chinese Premier Wen Jiabao met with Malawian President Bingu wa Mutharika here on Wednesday, and called for setting up formal mechanism to guide and coordinate bilateral trade cooperation.     Wen told Mutharika that to enhance China-Malawi friendly cooperative ties was in the fundamental interests of both sides, adding China was ready to expand substantial cooperation with Malawi.     The premier called on both countries to confer on setting up a guidance and coordination mechanism for trade cooperation. China would encourage its enterprises to increase imports from Malawi in a bid to stimulate bilateral trade and promote its balanced development. Chinese Premier Wen Jiabao (R) meets with Malawian President Bingu wa Mutharika in Beijing, capital of China, March 26, 2008. Mutharika started a weeklong state visit to China on March 24    Mutharika said the establishment of diplomatic ties had unveiled a new chapter for bilateral relations. Malawi would stick to the one-China policy and support China's reunification.     Mutharika said his country would maintain high-level exchanges with China, step up mutually beneficial cooperation in trade, technology, culture, medical treatment and social development, and Malawi would participate in the 2010 Shanghai World Expo.     Wen said China welcomed Malawi to join the China-Africa Cooperation Forum, and was ready to join with Malawi to inject new vigor to China-Africa friendly cooperation.     Mutharika echoed that Malawi was willing to contribute to cementing Africa-China cooperation.     Mutharika arrived on Monday afternoon for a weeklong state visit to China as Hu's guest.     He will also visit Chengdu, capital of Sichuan Province, and the cities of Shenzhen and Shanghai