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BEIJING, Nov. 6 (Xinhua) -- The Agricultural Bank of China (ABC) on Thursday signed an agreement with Central Huijin Co., an investment arm of the government, for a 130-billion-yuan (19 billion U.S. dollars) capital injection in preparation for an eventual stock listing.     Xiang Junbo, the state-owned bank's president, said the injection would boost the bank's capital base, improve its financial status and enhance its profitability.     After the injection, Central Huijin and the Ministry of Finance each will have half of the bank's ownership.     Lou Jiwei, head of Central Huijin's board of directors, said the company would help ABC improve its corporate governance to make it a modern commercial bank with global competitiveness.     According to Xiang, ABC's profit grew 35 percent year-on-year to 98 billion yuan in the first three quarters. As of Sept. 30, deposits totaled 5.9 trillion yuan and loans 3.97 trillion yuan, rising by 690 billion yuan and 300 billion yuan, respectively, from a year earlier. The Agricultural Bank of China (ABC) on Thursday signed an agreement with Central Huijin Co., an investment arm of the government, for a 130-billion-yuan (19 billion U.S. dollars) capital injection in preparation for an eventual stock listing    Of the loans, 1.39 trillion yuan went to agriculture-related projects, up 120 billion yuan year-on-year.     Xiang said one of the bank's major tasks after the capital injection would be to develop its rural network and increase agricultural lending.     The State Council, or the Cabinet, approved ABC's shareholding reform plan on Oct. 21.

BEIJING, Nov. 2 (Xinhua) -- China's gross domestic product (GDP) growth is expected to slow to 9.4 percent in 2008 from last year's 11.4 percent as the shrinking exports will cool the world's fourth largest economy, according to a Chinese credit rating agency report on Sunday.     The fundamentals of the economy are sound, but falling export orders would take a toll on the national economy in the short term, and domestic consumption needed time to play a bigger role, said the report released by the China Chengxin International Credit Rating Co. (CCXI), a joint venture of China's first rating agency China Chengxin Credit Management Co. Ltd. and U.S.-based Moody's Corporation.     The changing external economic environment and the burst of domestic asset bubbles would exacerbate the slowing economy, said the report.     The proactive fiscal policy was key to preventing the economy from falling and there was room for further cuts in bank reserve requirement ratios and interest rates.     It predicted the economy would gain 8.6 percent in 2009, but it gave no explanation of its forecast.     China's economy grew at 9 percent in the third quarter, the slowest in five years, as the global financial crisis sapped demand for Chinese goods, and domestic industrial production waned in response to weak demand and rising raw material costs.     The government has lowered interest rates three times in the last two months, increased export rebates and cut property transaction taxes to boost domestic consumption.     The report said the world financial crisis would have limited direct impact on the domestic banking system, but it warned Chinese exporters of default risks of foreign buyers.     Insurers and securities companies would be affected as the domestic capital market was growing more connected to the international market.     In September, the Manila-based Asian Development Bank, projected China's GDP growth to fall to 10 percent this year and further ease to 9.5 percent in 2009.     The slow-down was a result of the combined effects of a reduced trade surplus, slower growth in investment, and the global economic downturn, the Asian Development Outlook 2008 Update has said.

BEIJING, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday.     "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis.     The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers.     Priority should be placed on tracking the credit ratings of foreign lenders, it said.     The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums.     From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show.     SINOSURE is China's only policy insurance company undertaking export credit insurance.     In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007.     In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.

BEIJING, Nov. 7 (Xinhua) -- The pursuit of harmony is a basic value and the fundamental spirit of Chinese culture, State Councilor Liu Yandong told representatives of the 2008 Beijing Forum on Friday.     More than 300 scholars from more than 40 countries participated in the forum, with the theme "The Harmony of Civilization and Prosperity for All-The Universal Value and the Development Trend of Civilization."     Liu congratulated the forum, saying its theme was highly significant.     She said the concept of harmony had become a key criterion in many types of relations: among peoples, between individuals and society, among nationalities and states, among cultures and between humans and nature.     "It is especially important for academic and educational institutions to promote multinational cultural communication under globalization," said Liu.     Co-sponsored by Peking University, the Beijing Municipal Commission of Education and the Korea Foundation for Advanced Studies, the Beijing Forum 2008 -- the fifth such annual meeting -- convened on Nov. 7. The forum will focus on the environment, the Olympic spirit and the global financial crisis.

TAIPEI, Nov. 4 (Xinhua) -- Taiwan's ruling Kuomintang (KMT) honorary chairman Lien Chan said Tuesday that the new agreements between the Chinese mainland and Taiwan "earn a real applause" and could benefit both sides.     Lien held a banquet in Taipei to welcome the mainland's Association for Relations Across the Taiwan Straits (ARATS) president Chen Yunlin and his delegation.     "From a historical perspective, Chen's visit realizes a decade-old wish of President Wang Daohan and Chairman Koo Chen-fu, announces the establishment of an institutionalized consultation channel, and strengthens the base of cross-Straits mutual development and mutual benefits, " Lien said in his address.     In April 1993, late ARATS President Wang and Koo, late chairman of Taiwan-based Straits Exchange Foundation (SEF), held a historic "Wang-Koo meeting" in Singapore. It was the first public meeting between leaders of the two organizations.     Lien said Chen's current visit also symbolized a great step toward establishing mutual trust and achieving a win-win situation.     Chen and SEF chairman Chiang Pin-kung signed agreements on direct shipping and flights, postal services and food safety during their first summit in Taipei on Tuesday.     The agreements were expected to end a situation that has prevailed since 1949, which required air and sea movements between the Chinese mainland and Taiwan to go through a third place. Kuomintang honorary chairman Lien Chan (L) presents a gift to mainland's Association for Relations Across the Taiwan Straits (ARATS) President Chen Yunlin in Taipei, southeast China's Taiwan Province Nov. 4, 2008. Lien held a banquet for Chen and his delegation here on TuesdayLien, then KMT chairman, held a historic meeting with Hu Jintao, general secretary of the Communist Party of China (CPC) Central Committee, in 2005, the first such meeting after six decades.     Lien said he was honored to build a "shared vision" with Hu for the cross-Straits peaceful development. The three ensuing CPC-KMT forums, which had 48 fruitful deals, had greatly promoted cross-Straits exchanges and cooperation in fields such as economy, trade, culture, education and youth exchanges.     The ARATS delegation's visit was a key step in history, he said.     Chen said in his address that his "best dream of his life" was to sign the four agreements together with Chiang "on the lovely earth of Taiwan".     "For such a visit, many great efforts have been made ... and the ARATS and the SEF have signed six deals over the past five months, completing tasks that may take 60 years to achieve. The Taiwan side has made positive efforts," he said.     Three of the four deals signed on Tuesday concerned cross-Straits issues of "three direct links" of shipping, flights and postal services, which was "good news" for compatriots on both sides, Chen said.     "The future will tell that it is a right decision which would bring benefits to people on both sides," he said, adding the result would also comfort Wang and Koo who had passed away.     The ARATS and SEF would "bravely move on with steadier steps" so as to open a new era of peaceful development across the Straits, Chen said.     Taiwan's mainland affairs department chief Lai Shin-yuan said when meeting with Chen that "the mainland and Taiwan could solve misunderstandings step by step so long as the two sides could tolerate and understand each other".     She said the two high-level meetings between the two organizations in less than five months showed their strong willingness in shelving disputes, facing reality and vigorously improving ties.