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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.

BEIJING, Sept. 17 (Xinhua) -- Chinese President Hu Jintao's speech on the 30th anniversary of the founding of the Shenzhen special economic zone (SEZ) was published in five ethnic minority languages on Friday.Shenzhen, a southern coastal city neighboring Hong Kong, marked its 30th anniversary as China's first economic reform zone on Sept. 6.At that day's celebratory rally, Hu said the central government would always support the country's special economic zones, embarking on "brave exploration" in their roles as "first movers.""The SEZs will not only continue, but should work better," Hu said.The late Chinese leader Deng Xiaoping first proposed building Shenzhen into a SEZ in the late 1970s.On Aug. 26, 1980, China's top legislature approved the establishment of the Shenzhen SEZ.The speech was published by the Ethnic Publishing House in five minority languages, including Mongolian, Tibetan, Uygur, Kazakstan and Korean.

UNITED NATIONS, Sept. 20 (Xinhua) -- China supports for UN General Assembly to play an even greater role in handling international affairs, Chinese Foreign Minister Yang Jiechi said Monday.Yang made the remarks in a meeting with UN General Assembly President Joseph Deiss at UN Headquarters on the sidelines of a high-level meeting on anti-poverty goals.The foreign minister voiced hope for the General Assembly to attach greater importance to development issues, proactively implement the outcomes of the UN high-level meeting, pay attention to the concerns of developing countries and further promote international development cooperation.On Monday morning, Yang also held separate meetings with Arab League Secretary-General Amr Moussa and the foreign ministers of Khazakstan, Indonesia and Switzerland.He told Mousa that China hopes for a stronger Sina-Arab strategic relationship of cooperation, and that China remains committed to supporting the just cause of the Palestinian people in seeking legitimate national interests.

BEIJING, Sept. 15 (Xinhua) -- China on Wednesday vowed to boost military cooperation with Thailand. China and Thailand had conducted friendly and fruitful cooperation in the political and economic areas, said Chinese Defense Minister Liang Guanglie when meeting with Air Chief Marshal Itthaporn Subhawong, Commander-in-Chief of the Royal Thai Air Force.Liang said relations between the Chinese and Thai armed forces had developed well with frequent high-level visits and expanded cooperation. Chinese Defense Minister Liang Guanglie (R) meets with Air Chief Marshal Itthaporn Subhawong, commander-in-chief of the Royal Thai Air Force, in Beijing, capital of China, Sept. 15, 2010.Itthaporn's visit would certainly help promote the development of China-Thailand relations and military ties, in particular the friendly cooperation between the air forces of the two countries, Liang said.Itthaporn said Thailand was devoted to boosting strategic cooperative relations with China and would like to further strengthen their military exchanges and cooperation.

JERUSALEM, Nov. 7 (Xinhua) -- Israeli President Shimon Peres on Sunday met here with Zhang Gaoli, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and Party chief of China's Tianjin municipality. Zhang, heading a CPC delegation, extended greetings from Chinese President Hu Jintao to Peres.China and Israel have seen steady development of relations and frequent high-level exchanges since the establishment of their diplomatic ties 18 years ago, Zhang said, adding that the two countries have carried out extensive economic, cultural, scientific and technological cooperation.China appreciates Israel's adherence to the one-China policy, Zhang said. Zhang Gaoli (4th R, Back), a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and chief of the CPC Tianjin Municipal Committee, attends the signing ceremony for business and trade cooperation projects between Tianjin China and Israel, in Jerusalem, Nov. 7, 2010.Strengthening and further developing Sino-Israeli friendly relations serves the fundamental interests of Chinese and Israeli peoples, as well as peace and prosperity in the Middle East, he stressed.Zhang said China is willing to deepen practical cooperation with Israel in various fields, and to promote the exchanges between political parties, governments, legislatures and the two peoples.The Israeli president asked Zhang to convey warm greetings to his Chinese counterpart.Peres is impressed by China's coordinated development in economy, society and culture, saying that the world has seen China 's promising future through her unprecedented achievements.Noting that the CPC has led the Chinese people in the endeavor to eliminate poverty, Peres said that China adheres to the path of peaceful development, and contributes to the world peace and stability.Israel is looking forward to bolstering the communication and cooperation with China in fields like science, technology, culture, education and particularly renewable energy, while consolidating traditional friendship with China. By doing so, Peres added, the two countries will join hands to enhance the bilateral relations to a new level.Later in the day, Zhang unveiled the "Jews in Tianjin" photo exhibition together with Isaac Herzog, Israel's minister of welfare and social services, and attended a signing ceremony for projects of Israel, Tianjing economic and trade cooperation with Minister of Science and Technology Daniel Hershkowitz.