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FUZHOU, Aug. 27 (Xinhua) -- China has begun efforts to build the largest regional cooperation platform, covering a geographical area that produces around one-third of the country's GDP.As key to this effort, on Friday, the 6th Pan Pearl River Delta (PPRD) Regional Cooperation and Development Forum opened in Fuzhou, capital of southeast China's Fujian Province.The forum, scheduled to run from Aug. 27-31, is celebrated the theme of "deepening cooperation and seeking common development". It has attracted more than 10,000 participants, including officials, entrepreneurs and celebrities from the Chinese mainland, Hong Kong and Macao special administrative regions, as well as Taiwan.The forum, begun in 2004, seeks to stimulate the economy within the pan-Pearl River Delta region, which covers Hainan, Yunnan, Hunan, Guangdong, Jiangxi, Fujian, Sichuan, Guizhou, Guangxi, as well as Hong Kong and Macao special administrative regions.This move would help enhance regional cooperation, encourage labor mobility and accelerate the relocation of industry from China's well-off coastal region to the comparatively underdeveloped western region, said Xu Shangwu, secretary general of the Organizing Committee of the forum.This would improve the comprehensive economic strength and global competitiveness of the entire region, he said.During the previous five PPRD forums, more than 14,000 cooperative projects have been agreed, with their total investments exceeding 1.8 trillion yuan (264.71 billion U.S. dollars), according to government statistics.The GDP of the nine provincial regions in the Chinese mainland totaled 10.5 trillion yuan last year, up 11.8 percent from one year earlier. The growth rate was higher than the national GDP increase.In addition to boosting the growth and cooperation in the pan-Pearl River Delta, China is also accelerating regional development in the northeastern region, Yangtze River Delta region, Bohai rim region, as well as the pan-Beibu Gulf Economic Zone.

NEW YORK, Sept. 23 (Xinhua) -- The foreign ministers of China and 42 African countries, or their representatives, held their second political consultation in New York on Thursday. Following is the full text of a joint communique issued at the end of consultations:JOINT COMMUNIQUE OF THE SECOND ROUND OF POLITICAL CONSULTATIONS BETWEEN CHINESE AND AFRICAN FOREIGN MINISTERSNew York, 23 September 2010 Chinese Foreign Minister Yang Jiechi (L, front) chairs the second political consultation between the foreign ministers of China and African Countries at the UN headquarters in New York, Sept. 23, 2010.In accordance with the mechanism of regular political dialogue between Chinese and African Foreign Ministers set up at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), the Foreign Ministers of China and 42 African countries, or their representatives, held their second political consultation in New York on 23 September 2010. The Chairperson of the African Union ( AU) Commission was invited to the consultation.The meeting was co-chaired by the People's Republic of China and the Arab Republic of Egypt, the two co-chair countries of FOCAC.The Chinese and African sides had an in-depth exchange of views on strengthening China-Africa cooperation in international affairs, making progress towards the Millennium Development Goals (MDGs) and promoting peace and security in Africa. They reached the following consensus:1. The two sides applauded FOCAC's important role in guiding the comprehensive and fast growth of China-Africa friendship over the past 10 years since FOCAC's inception, and its contribution to South-South cooperation, common development and the building of a harmonious world. They reaffirmed the commitment of FOCAC member countries to improving the institutional building of FOCAC, strengthening practical cooperation in various areas within the FOCAC framework, enriching the Forum and promoting in-depth development of the new type of China-Africa strategic partnership.2. The two sides expressed satisfaction with the comprehensive implementation of the follow-up actions of the FOCAC Beijing Summit. They highly appreciated the fact that despite the adverse impact of the global financial crisis, the Chinese government announced new measures for enhancing China-Africa cooperation at the 4th FOCAC Ministerial Conference held in Sharm El Sheikh in 2009.

BEIJING, Sept. 6(Xinhuanet)  - China bucked international trends in both outbound and inward investment, official figures have revealed.China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of .5 billion, compared to a ranking of 12th in 2008, the Ministry of Commerce said on Sunday.On top of this, foreign direct investment (FDI) this year was set to "surpass 0 billion", compared to billion last year, ministry officials predicted.Globally, foreign investment decreased by almost 40 percent last year amid the financial downturn and is expected to show only marginal growth this year.The growth in both outbound investment from, and inbound investment to, China reflects the nation's rising economic power and attractiveness as an investment destination. China's annual outbound direct investmentThe ministry made the announcements during a press conference held in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade. Both forums will start on Tuesday.According to the ministry, China's ODI grew by 1.1 percent from a year earlier to .53 billion, which includes investment of .8 billion in non-financial sectors worldwide, up 14.2 percent year-on-year.Last year was the eighth consecutive year that the nation's ODI had grown. In this period the average annual growth rate stood at more than 50 percent."China is now the fifth largest investing nation worldwide, and the largest among the developing nations," said Shen Danyang, vice-director of the ministry's press department.In 2009, global ODI volume reached .1 trillion, and China contributed about 5.1 percent of the total.But "this is just a beginning." Although the figure is already "quite amazing," the volume is "not large enough" considering China's economic growth and local companies' expanding demand for international opportunities, Shen said."The growth rate (for ODI) in the next few years will be much higher than previous years," Shen said, without elaborating.China's ODI growth witnessed strong momentum this year. From January to June, the ODI in financial sectors was up by 43.9 percent to .84 billion, and in July alone, the ODI recorded .91 billion, the highest this year.Liu Zuozhang, director of the investment promotion agency under the commerce ministry, told China Daily that China's ODI in non-financial sectors would probably grow to billion this year.But while more Chinese companies were investing overseas, barriers and protectionism against Chinese investment were strengthened as well.Fan Chunyong, standing deputy chief of the China Industrial Overseas Development and Planning Association, said the challenge would not affect the upward trend of the ODI."China's ODI will go up to 0 billion in 2013, and the Chinese accumulative overseas investment will reach 0 billion by then," said Fan.According to the ministry, by the end of 2009, 13,000 Chinese enterprises had invested in 177 nations and regions worldwide, and the largest volume of funds went to the Asia-Pacific region. Europe and Africa ranked second and third in absorbing Chinese investment.Figures also revealed that more Chinese enterprises were focused on developed nations and emerging markets. During the first half of the year, China's ODI to the United States and the European Union rocketed by 360 percent and 107.2 percent respectively year-on-year. And investment into ASEAN and Russia grew by 125.7 percent and 58.5 percent.Jinny Yan, economist from Standard Chartered Shanghai, predicted that the EU would continue to be a hotspot for China's outbound investment in the coming months thanks to the ongoing European debt woes.As for FDI, Shen predicted it would reach a record high of 0 billion this year as China's consumption capacity gradually picked up and the nation's efforts on creating an open and transparent investment environment paid off.Responding to recent complaints by foreign businesses on the "worsening" investment environment, he said it "highlights foreign businesses are attaching more importance to the Chinese market".A report by the European Chamber of Commerce released last Thursday said China had made progress on improving its investment environment, but still needed to do more, especially on market access and the regulatory environment.While global FDI slumped by almost 40 percent last year, China's FDI was down by a mere 2.6 percent, according to the UNCTAD. China remained the second largest recipient nation of FDI, following the US.During the first seven months, China's FDI increased by 20.7 percent to .35 billion, and FDI in July surged by 29 percent.Zhan Xiaoning, director of the investment and enterprise division under the UNCTAD, said China was taking the leading role in the FDI recovery worldwide, even though FDI growth was not a cause for optimism globally.

WASHINGTON, Oct. 6 (Xinhua) -- China's growth is projected to average 10.5 percent in 2010 and 9.6 percent in 2011, driven by domestic demand, the International Monetary Fund (IMF) said in a report Wednesday.The Washington-based international lending agency made the projection for the annual fall meetings this weekend of the 187-nation IMF and its sister lending organization, the World Bank."The slight moderation in recent activity is expected to continue through 2011 in light of tighter quantitative limits on credit growth, measures to cool off the property market and limit bank exposure to this, and the planned unwinding of fiscal stimulus in 2011," the IMF said in its report.The report said this year's sustained growth in retail sales and industrial production confirms that private sector activity has advanced beyond the lift from government stimulus."On average over 2010-11, private domestic demand is poised to contribute two-thirds of near term growth, and government activity about one third, whereas the contribution from net exports will be close to zero," the report said.Despite the robustness in domestic demand, the pickup in inflation in 2010 reflected mainly higher food prices rather than core inflation, the report said.The report said China's increasingly wide trading network is driving growth in numerous economies, especially commodity exporters.The report said Asia's medium-term growth depends on the rebalancing of drivers of growth -- greater reliance should be put on domestic markets instead of foreign demand.The report said such a rebalancing in China, the world's second largest economy, is critical to enhance the role of household consumption in domestic growth.The report also recommended that China implement reforms to health care, education, and pension systems to enhance the social safety net.

BEIJING, Oct. 30 (Xinhua) -- Vice Premier Li Keqiang has said China would advance practical cooperation with the European Union (EU) in all areas.Li made the remarks Friday when meeting with a delegation from the European People's Party and European Democrats (EPP-ED), which is the largest group in the European Parliament.China hopes the two sides work together to expand common interests, respect each other's core interests and major concerns, so as to promote the China-EU relationship in a maturer and more steady way, Li said during the meeting.Since the two sides forged diplomatic ties 35 years ago, China and the EU had scored leap-forward development in bilateral relationship, which was exerting more and more influence to the world peace and development, Li said.Noting inter-party contacts constitute an important part of China-EU relations, Li, also member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, said the CPC is willing to deepen dialogue and exchanges with the EPP-ED.Joseph Daul, chairman of the EPP-ED and also head of the delegation, said he is willing to cement inter-party exchanges with the CPC and push forward the EU-China relations.