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BEIJING, Oct. 22 (Xinhua) -- China and South Africa pledged Friday to step up legislative cooperation to cement the bilateral strategic partnership.The pledge came out of the meeting between Chinese President Hu Jintao and Speaker of the National Assembly of South Africa Max Sisulu in Beijing.Hu said growing China-South Africa relations require stronger collaboration between the legislatures of the two countries.Hu hoped the two legislatures could launch their regular exchange mechanism at an appropriate time and work to improve such mechanism.Sisulu said the the National Assembly of South Africa hoped to make a new contribution to boosting cooperation between the two countries.On China-South Africa relations, Hu said bilateral relations have "reaped good harvests" since the two countries forged diplomatic ties in 1998.Sisulu agreed with Hu's comments, saying China's remarkable progress contributes to world peace and development and inspires South Africa and other African countries.Also Friday, Wu Bangguo, chairman of China's National People's Congress(NPC) Standing Committee, held hour-long talks with Sisulu at the Great Hall of the People in Beijing.Wu said the NPC and the National Assembly of South Africa have a good foundation for cooperation, and urged the two legislatures to maintain exchanges at a high level.While calling for the two legislatures to work more closely in regional and international legislative organizations, Wu said a regular exchange mechanism should be launched as early as possible so as to improve ties between the legislatures of the two countries.Sisulu said the National Assembly of South Africa and the NPC of China should strengthen bilateral exchanges and seek closer cooperation in multilateral legislative organizations.As South Africa is a big country in Africa and an important emerging economy, China hopes to communicate more and coordinate with South Africa over Sino-African cooperation so as to advance China-Africa relations and South-South cooperation, Wu said.The visit to China was Sisulu's first since he was elected to the position of speaker of the National Assembly of South Africa in May 2009.Apart from Beijing, Sisulu will also visit the Three Gorges Dam, the world's largest water control project, on the middle reaches of the Yangtze River, China's longest.

BEIJING, Sep. 2 (Xinhua) -- China's Ministry of Industry and Information Technology (MIIT) said Thursday it would urge industrial enterprises to produce high-quality products as part of the effort to enhance the image of "made in China."The Ministry would also draw up a blacklist displaying the names of those firms breaching quality-related regulations, said Li Yizhong, Minister of the MIIT.The MIIT would reward those companies that have good records for producing quality products with increased policy and funding support, and punish those with poor quality-control records, said Li at a forum held in Beijing which focused on how to improve the quality and reputation of Chinese industrial products.The MIIT would also move forward on a campaign to allow enterprises to make promises on producing quality products, and work together with quality supervision authorities to incorporate the quality-based credit system of enterprises into the whole social credit system, Li said.During the forum, 156 Chinese firms signed a written proposal "promising to make quality products for the world," and called upon their peers in China to raise the quality of industrial products.

XIAMEN, Sept. 7 (Xinhua) -- China's foreign trade surplus was approximately 84 billion U.S. dollars from Jan. to July, down 20 percent year on year, and the year 2010 is expected to see a small trade surplus, said Commerce Minister Chen Deming on Tuesday.Chen made the projection at the ongoing World Investment Forum that runs from Sept. 7 to 9 in southeast China's coastal city of Xiamen.China has seen a trade surplus in recent years, but with a decreasing margin, and the trade surplus takes up a very small proportion of the GDP, noted Chen."China's foreign trade policy aims to stabilize exports and increase imports, which can boost China's economy and also bring positive impacts to neighboring countries," said Chen.Customs statistics show that China's import and export value in the first seven months reached 1,617 billion U.S. dollars, with exports worth 850.5 billion U.S. dollars, up 35.6 percent, and imports at 766.6 billion U.S. dollars, up by 47.2 percent.China's trade surplus in 2009 was more than 190 billion U.S. dollars, down 34.4 percent from the 290 billion U.S. dollars in 2008.The World Investment Forum is the global meeting on investment and development issues organized by the United Nations Conference on Trade and Development. Held every two years, the forum aims to strengthen international cooperation in the interest of promoting international investment and its contribution to economic growth and development.

RAMALLAH, Oct. 14 (Xinhua) -- Visiting Chinese Middle East envoy Wu Sike on Thursday met with Palestinian President Mahmoud Abbas in Ramallah, discussing the bilateral relations and the current status of Israeli-Palestinian peace talks.Referring to the Palestinian issue as the core of the Middle East issue, Wu said that China firmly supports the Palestinian people's efforts for their national rights.China urges Israel and the Palestinians, based on the relative U.N. resolutions, the principle of "Land for Peace," the Arab Peace Initiative and the "Road Map for Peace" plan, to solve their disputes through negotiations, and to establish a Palestinian state with independent and full sovereignty, thus realizing the peaceful coexistence of the two sides, the envoy added.China's Middle East Special Envoy Wu Sike (L) meets with Palestinian President Mahmoud Abbas in the West Bank city of Ramallah, on Oct. 14, 2010.Wu said that China, deeply concerned about the ongoing stalemate in the Israeli-Palestinian peace talks, supports the current direct talks and understands the Palestinians' position on the Jewish settlement issue, and urged the parties to push forward the peace process with constructive measures.Israel and the Palestinians resumed direct negotiations early September. However, the talks were halted when Israeli settlers restarted building in the West Bank after Sept. 26, when Israel's 10-month settlement construction moratorium ended. The Palestinian National Authority has made clear that it will enter the parley only if Israeli government extends the freeze.Regarding the Palestinian internal reconciliation, the envoy said that China supports the reconciliation process, urging the Palestinian fractions to resolve their differences through dialogue and negotiation.During the meeting, Abbas speaks highly of the active role that China has played in promoting the Middle East peace process, and China's long-term support and assistance to the Palestinians.The Palestinian side is willing to, with the support of relative parties and international community, make efforts to solve the difficulties facing the peace talks and push the negotiations to move in a positive direction.Wu also met with Palestinian Foreign Minister Riyad al-Malki and Chief Negotiator Saeb Erekat on Thursday, after holding talks with Israeli officials one day earlier.

BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.

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