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BEIJING, April 13 (Xinhua) -- The State Council, China's Cabinet, released here Tuesday new regulations on overseas investment, promising good business conditions but restricting funds to environmentally unsound projects.According to the new regulations, China still welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection, but polluting and energy-gorging or projects in industries running at overcapacity are not wanted.According to the regulations, the State Council said China will continue to support Chinese A-share listed companies in further introducing strategic investors from home and abroad, and standardize foreign companies' investment in domestic securities and corporate merger and acquisition moves.A national security examination mechanism will be built as soon as possible for foreign-funded companies' merger and acquisition operation in China, according to the regulations.Qualified foreign-funded companies are allowed to go public, issue corporate bonds or medium-term bills in China.Multinationals are encouraged by the regulations to set up regional headquarters, research and development centers, procurement hubs, financial management and other functional offices in China.Importing items for scientific and technological development by qualified foreign-funded R&D centers will be exempt from tariffs, importing value added tax and goods and services tax by the end of 2010, according to the regulations.Foreign-funded enterprises are also encouraged to increase their investment in China's central and western regions, particularly in environment friendly and labor-intensive companies.

BEIJING, June 4 (Xinhua) -- China's National Development and Reform Commission (NDRC), the top economic planner, refuted a report on Friday claiming China is facing stagflation risks, arguing the national economic growth might slow slightly but stagflation is not going to occur.The NDRC response followed the release of a domestic report that claimed rising inflation and slowing economic growth would lead to stagflation in China.The NDRC added that the report was inaccurate and likely to cause misunderstandings and confusion, according to a statement released on its website.The statement went on to say growth in China's gross domestic product (GDP) was likely to slow down this year because of a higher comparison base used in the second half of last year, but it would still be one of the world's strongest growth rates and should not be labeled as "stagflation".Further, the NDRC noted that the consumer price index (CPI), a major gauge of China's inflation, was likely to exceed the government's 3-percent growth target in several months, but "there is a foundation to achieve the full-year CPI target of 3 percent" as long as China continued improving macro-regulations, it said.The NDRC statement noted that China would see "stable and comparatively fast economic growth" and "a moderate consumer price increase" this year.China's GDP rose 11.9 percent from a year earlier during the first quarter of this year. The CPI increased 2.4 percent year on year in March while the growth for April accelerated to 2.8 percent, according to the National Bureau of Statistics (NBS).The NBS is scheduled to release May economic data, including the CPI, fixed asset investment and retail sales, on June 11.

BEIJING, April 18 (Xinhua) -- Chinese President Hu Jintao on Sunday promised orphan students in the quake-hit Yushu new homes and schools while rescuers continue to battle altitude sickness in search of survivors."There will be new homes! There will be new schools!" the president, who arrived in Yushu to inspect relief work one day after returning from a shortened overseas visit, wrote in chalk on the blackboard of a makeshift classroom.The 7.1-magnitude quake which struck the Tibetan Autonomous Prefecture of Yushu Wednesday morning has left at least 1,706 dead, 256 missing and 12,128 injured, as of 10 a.m. Sunday.A woman collects her belongs in Gyegu Town, the quake-hit Tibetan Autonomous Prefecture of Yushu, in northwest China's Qinghai Province, April 17, 2010. The 7.1-magnitude earthquake that struck Yushu of Qinghai Province, left 1,484 dead and 312 still missing, and about 100,000 people were relocated."The top priority is to rescue those still buried alive and treat those injured. Each life must be cherished," Hu said.By Sunday morning, rescuers in the quake-hit Yushu Prefecture in northwest China's Qinghai Province had saved 17,000 lives after Wednesday's 7.1-magnitude earthquake.More than 15,000 rescuers - including over 11,000 People's Liberation Army troops and armed police, 2,800 firefighters and special police forces, and 1,500 earthquake and mine accident rescue specialists - are still searching for quake survivors in Yushu.Most quake-affected people in Yushu have settled in tents and have been provided with food, clean water and other basic needs, Zou Ming, director of disaster relief department under the Ministry of Civil Affairs said at a press conference held Sunday.Some 25,000 tents, 52,000 quilts, 16,000 cotton-padded coats and 850 tonnes of instant food and drinking water have arrived in the quake zone. Another 18,950 cotton-padded tents are on the way.

LOS ANGELES, June 4 (Xinhua) -- U.S.-China relations are improving on the back of their need for mutual support after undergoing a rocky period earlier this year, U.S. Congressman Adam Schiff said here Friday.The bilateral relationship came under pressure due to U.S. arms sales to Taiwan, the ** Lama's U.S. visit and tensions in the Korean Peninsula, but the overall situation was good and the bilateral cooperation was at a very high level, the Democratic congressman from California told a Chinese press club luncheon.Schiff said he didn't think the current tensions on the Korean Peninsula would have a serious impact on U.S. relations with China.He said both countries needed each other's support in forums such as the six-party talks to resolve the issue of nuclear proliferation on the peninsular.The United States also needed China's cooperation in developing alternative and green energy. The two nations could not simply compete with each other on this front, but needed to learn from each other, he said.Schiff sponsored the Nuclear Forensics and Attribution Act to strengthen the U.S. Department of Homeland Security's efforts in developing techniques for "fingerprinting" nuclear material and encouraged U.S. President Barack Obama to negotiate international agreements to govern international nuclear forensics activities.Schiff is also leading the effort to combat intellectual property theft. He is a co-chair of the Congressional International Anti-Piracy Caucus, a bipartisan group of House and Senate lawmakers dedicated to working with America's international trading partners to secure the enactment of strong copyright laws as well as their vigilant enforcement.Schiff said Hollywood movies are popular in China and the movie industry is one of the few sectors enjoying a trade surplus.He said it was important for the U.S. to strengthen its efforts to fight piracy, admitting that in this field, the United States and China had many concerns.

FUZHOU, April 3 (Xinhua) -- Chinese Vice Premier Wang Qishan has called for concrete measures to promote the construction of the economic zone on the western side of the Taiwan Strait.Wang made the remarks during his two-day inspection tour to the southeastern Fujian Province that ended Friday.Wang also asked local departments of commerce, customs, quality inspection, finance and tourism to make efforts to support the construction of the economic zone.During his visit to Pingtan Island, the fifth largest island in China, Wang inspected a bridge under construction that will connect the island with the mainland, as well as industrial development and the tourism industry on the island.Wang also visited the Wuyi Mountain and some tourist attractions in Fuzhou city, and urged a sound development of local tourism industry.