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ATHENS, Oct. 2 (Xinhua) -- Chinese Premier Wen Jiabao on Saturday made a five-point proposal on boosting ties with Greece during talks with his Greek counterpart George Papandreou, stressing that China is willing to work with the European country to combat the lingering financial crisis.Wen arrived in Athens earlier in the day, starting a three-day official visit to the country, the first by a Chinese premier in 24 years.Papandreou held a grand welcoming ceremony for Wen after the Chinese premier's arrival.Wen said both countries were great civilizations in the history and the people of the two countries have always been amicable to each other. There have been consistent mutual support, mutual help and solid political mutual trust between the two nations for a long time.Greek Prime Minister George Papandreou (R) shakes hands with Chinese Premier Wen Jiabao during a press conference in Athens, Greece, on Oct. 2, 2010."Currently, Greece is actively dealing with the impact inflicted by the sovereign debt crisis and has experienced the hardest time," Wen said during the talks with Papandreou."China will work with Greece to deal with various challenges and deepen the China-Greece comprehensive strategic partnership," he added.China has bought and is now holding Greece's treasury bonds, and will continue to "take positive attitude to participate in the purchase of Greece's new treasury bonds," said Wen, adding that it served as one of China's measures to help the sovereign debt-ridden country.Wen put forward a five-point proposal for the further development of China-Greece ties concerning cooperation in maritime transportation, trade and investment.China will set up a special fund on China-Greece shipping cooperation, with the initial part of 5 billion U.S. dollars, in a bid to promote cooperation in maritime transportation between the two countries, said Wen.He added China will help upgrade Greece's southeast and largest port Piraeus to a distributing center for Chinese exports to Europe.Wen said he believes it is realizable for trade volume between the two countries to double and reach the goal of 8 billion dollars in five years, adding China will expand the import from Greece.

BEIJING, Oct. 23 (Xinhua) -- One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits.Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek excessive profits from a rapid increase in loans and a widening gap between lending and deposit rates, which is unsustainable.Chinese banks went on a lending spree in 2009 in response to the urging of the government as part of the 4-trillion-yuan (601 billion U.S. dollars) stimulus package to ward off the effects of the global financial crisis.Also, nearly 9.6 trillion yuan in new loans last year fuelled fears of banks distributing bad loans.Many banks continue to depend upon issuing credit to government-backed projects to secure profits, Wang said at an industry meeting Thursday. However, those projects often lack adequate risk management.Further, Wang urged lenders to improve balance sheets and the quality of assets, as well as the ability to manage risk aversion.Chinese banking and financial institutions reported net profits of 668.4 billion yuan last year, of which a lion's share came from the gap between deposit and lending rates, investment proceeds and fees, according to the report on China's banking industry issued by the CBRC in July.The report noted that the average capital adequacy ratio stood at 11.4 percent at the end of last year, above the international safety line, while the non-performing loan (NPL) ratio fell to 1.58 percent, down 0.84 percentage points from the level at the beginning of 2009.Despite the improved data, CBRC chairman Liu Mingkang has repeated warnings that an NPL rebound could bring with it risks from lending to local government financing platforms and the property sector which has accumulated asset bubbles.At the meeting, Wang said the CBRC would enhance oversight to assure unscrupulous and unhealthy financial institutions are phased out of the market.Also, China will gradually move towards a market-driven interest rate mechanism, which would ultimately squeeze bank profits.

SHANGHAI, Oct. 16 (Xinhua) -- A total of 1.03 million people visited the Shanghai World Exposition on Saturday, a record number since the Expo opened. The total number also exceeded an earlier record.The Expo had received some 64.62 million visitors by the end of Saturday, the 169th day since the event began on May 1. The previous record was set during the 1970 Osaka World Expo in Japan, which about 64 million people attended over a six month period.Attendance may be increasing since this is the first weekend after the week-long National Day holiday and the second to last weekend before the final seven designated days from Oct. 25-31.Since early this morning, the Expo' s public transportation system has been under great pressure as visitors have been seen throughout the Expo site.Visitors needed to queue up for more than one hour before being admitted to most pavilions. Some popular pavilions, including the Oil Pavilion and Space Home Pavilion, stopped visitors from queuing up by 4 or 5 p.m. because of the large crowds.Many visitors could only walk around, take pictures outside of pavilions, or have picnics at rest area. Further, all parades were canceled due to the large number of visitors.Zhou Qian and Dai Shishi from Hangzhou described the long queues as "horrible". But Zhou said she had been prepared for the situation as they visited seven pavilions, including the Egyptian and Spanish pavilions.A visitor surnamed Zhang and her daughter, a high school student in Shanghai, entered the site at 11 a.m. but had only visited three pavilions by 6:30 p.m."And all of them are small ones. It's not a proper time to come, but it's not easy for my daughter to be free," Zhang said.A series of measures have been taken to deal with the situation, according to the Bureau of Shanghai World Expo.When the number exceeded 700,000 visitors, organizers made announcements to visitors through the World Expo official website, TV Station, mobile televisions, and telecommunication operators.Visitors were persuaded to avoid peak times on televisions seen on subways in the morning, and in the afternoons they were advised not to continue entering the site today.

STOCKHOLM, Sept. 15 (Xinhua) -- Iceland's President Olafur Ragnar Grimsson Wednesday said that Iceland's government and people sincerely appreciate China's precious support to Iceland in dealing with financial crisis and treat China as a trustworthy friend and important cooperation partner, according to a report reaching here from Reykjavik."Iceland is willing to strengthen cooperation with China in various fields including geothermal energy, earthquake monitoring, culture and tourism. Iceland will take the 40th anniversary of Iceland-China diplomatic relations as an opportunity to promote bilateral relations to a new stage," Grimsson said in a meeting with Liu Qi, a high-ranking Chinese party official.Liu, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Beijing Municipal Committee of the CPC, arrived in Iceland on Monday after his three-day visit to Sweden.Liu said that with the close and frequent high level mutual visits in recent years, political trust between the two sides has been strengthened."The two sides have had fruitful mutually beneficial cooperation in financial, fishery, geothermal energy and hydropower fields and conducted active educational, scientific and technological and cultural exchanges. The two countries have communicated and coordinated very well in international affairs," Liu said.Liu believed that there will be broad prospect for the two sides to cooperate in trade, cultural and new energy areas."China has attached great importance to Sino-Icelandic relations and is willing to further expand exchanges and cooperation with Iceland in various fields to promote bilateral friendly relations to a new level," Liu stressed.During his visit in Iceland, Liu also met Iceland's Minister for Foreign Affairs and External Trade Ossur Skarphedinsson and Mayor of Reykjavik Jon Gnarr. He also inspected a geothermal power station and a high-tech enterprise.Liu left Iceland on Wednesday night for Holland and he will visit Switzerland after his tour in the Netherlands.

HANGZHOU, Sept. 10 (Xinhua) -- Tropical storm Meranti hit east China's Zhejiang Province at 7 p.m. Friday after leaving the neighboring province of Fujian where about 150,000 people were evacuated, said local authorities.Typhoon Meranti weakened to a tropical storm at 2 p.m. in Fujian Province, and then to a tropical depression at 8 p.m. in Zhejiang.The tropical depression was tracked as it passed through Lishui City of Zhejiang at 8 p.m., with a wind speed of 54 km per hour near its center, according to Zhejiang provincial flood control authorities.The storm is moving northeastward at 20 km per hour, and may leave Zhejiang Saturday morning or further weaken, according to the Zhejiang meteorological center.Photo taken on Sept. 10, 2010 shows high waves hitting a port in Pinghai Town of Putian, southeast China's Fujian Province, Sept. 10, 2010. Meranti, the 10th typhoon that hit China this year, made landfall at Fujian on Friday, according to provincial flood control authorities.Earlier Friday Meranti made landfall at Shishi city in Fujian at 3:30 a.m., packing winds of up to 126 km per hour near its center, according to provincial flood control authorities.A total of 145,300 people in Fujian were evacuated to avoid rain and wind triggered accidents.Also, about 33,200 fishing boats returned to port before 8:00 p.m. Thursday to take refuge from the typhoon.Meranti has brought up to 88 mm of rain to Shishi, according to a statement released by the city's flood control and drought relief headquarters.More than 100 hectares of crops were submerged and direct economic losses have reached 15.35 million yuan (2.27 million U.S. dollars), the statement said.In Shishi's neighboring Jinjiang city, over 100 power supply lines have been cut and more than 650 workers in 53 teams have been organized for the repair work.Rainstorms were also seen in the cities of Putian, Fuzhou and Ningde Friday.Meranti is also forecast to bring rains to Anhui Province from Saturday and threaten more than 5 million mu (about 333,000 hectare) of crops.The National Meteorological Center said in a statement that the storm will bring strong winds and torrential rains to parts of southern China until late Friday night.