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BEIJING, April 24 (Xinhua) -- Chinese Premier Wen Jiabao met here on Thursday with ex-French Prime Minister Jean-Pierre Raffarin, and urged the French government to work with China to put bilateral relations on a healthy and stable track.     Wen said France was the first Western power to forge diplomatic relations with China, and also the first European Union (EU) member state to set up a comprehensive strategic partnership with China.     China valued its friendship with France, which was fostered by leaders of several generations from both nations and by the two peoples, Wen said. He hoped France would work with China to push forward the healthy and stable growth of bilateral ties in line with the principles of mutual respect, equality and mutual benefits.     He clarified the truth behind violent crimes in Lhasa and other places, and stated China's stance on this issue. Chinese Premier Wen Jiabao meets with ex-French Prime Minister Jean-Pierre Raffarin in Beijing, April 24, 2008.    Wen applauded Raffarin's positive efforts to promote the understanding and cooperation between the two nations and the two peoples.     Raffarin said France attaches importance to the comprehensive strategic partnership with China, and that France has always adhered to the one-China policy since the two nations forged diplomatic relations.     To safeguard China's reunification and stability accords with the interests of all countries, Raffarin said, noting the European and French people should increase their knowledge about Tibet's real situation.     The Olympics is a grand event for all the world, and the international society has the responsibility to make a positive contribution to the Beijing Games, Raffarin said.     He expressed sorrow for the incidents of the Beijing Olympics torch relay in Paris, and said he wishes a success for the August Games.     Raffarin said France would continue making positive efforts to advance the EU-China relations and France-China relations.

BEIJING, Aug. 15 (Xinhua) -- China's securities supervisor said on Friday that the heavy slump on the country's equities market was caused by a combination of factors, both domestic and foreign.     These included a need for internal correction, increasing uncertainties on the global markets and frequent natural disasters, China Securities Regulatory Commission (CSRC) spokesman said at a press conference.     The unsound mechanism and structure of the country's equities market worsened the situation and widened the range of the correction, he said.     The benchmark Shanghai Composite Index edged up 0.56 percent to 2,450.61 points on Friday, closing out the week slightly higher after five days of losses. The key index has tumbled nearly 60 percent from its peak in October.     However, the trend of a steady and healthy performance would remain unchanged, he said, as the country's economy maintained steady and fast growth.     CSRC would study the emerging problems, promote the improvement of basic systems and optimize the structure of fund raising, he said.     CSRC would also adjust new share supply in line with market demand, enhancing the market mechanism in regulation.     The commission has slowed new share issues this year in an effort to brake the steep index declines as any mention of new share offering would cause a sharp plunge in the index.     From January to July, CSRC only approved the new offering (at least 100 million shares) of four companies, which raised a combined 64.32 billion yuan (9.38 billion U.S. dollars). Both the frequency and amount decreased, by 64 percent and 49 percent respectively, compared with the same 2007 period.     The commission would join with the State-owned Assets Supervision and Administration Commission to set up a real-time monitoring system to supervise transfer of the state-owned shares.

WASHINGTON, Oct. 11 (Xinhua) -- Deputy Governor of the People's Bank of China Yi Gang called for international cooperation here on Saturday to restore global financial stability.     "Our current priority is to enhance international cooperation to prevent further deterioration and spillover of the crisis and restore global economic and financial stability," Yi said.     The deepening and widening of the U.S. financial crisis have triggered a major global slowdown and escalating uncertainty, Yi Gang said in a statement at the 18th meeting of the International Monetary and Financial Committee (IMFC) held here Saturday.     While the advanced economies have slowed significantly since the U.S. sub-prime crisis, the emerging market economies have maintained robust growth but the deteriorating external environment is putting the resilience of their macroeconomic policies to the test, he said.     The crisis has underscored shortcomings in the financial markets, Yi said. He expressed his hope that the stabilizing measures of the advanced economies will have the positive effect of calming the markets and restoring confidence.     "China is willing to strengthen its cooperation with other countries and, through such joint efforts, we hope global financial stability can be safeguarded," he said.     In line with their status, Yi said, the major reserve currency issuing countries should shoulder the responsibility for preventing further spillovers and minimizing shocks to other economies -- especially to the emerging markets.     To promote balanced and steady global growth over the longer term, efforts should be made to advance structural reforms and increase savings, he pointed out.     The International Monetary Fund -- at the core of the international monetary system -- should carry out its mandate to safeguard global economic and financial stability, he said. The IMFC is the steering committee of the 185-nation lending institution.     Yi also noted that as the impact of the crisis on the real economy is much worse than expected and the recovery more protracted and difficult, the risks of deflation in some countries as a result of the credit crunch have increased significantly.     "It is imperative that the major advanced economies coordinate rapid implementation of bailout packages to avoid deflation and facilitate the global recovery," said Yi.     "However, we should be aware that the injection of liquidity from these emergency measures could be a potential source of inflation in the medium and long term," the deputy governor said.

BEIJING, Oct. 4 (Xinhua) -- The ongoing global financial turbulence will have a limited impact on China's banks and financial system in the short run, according to officials and experts.     "We feel China's financial system and its banks are, to the chaos developed in the U.S. and other parts of the world, relatively shielded from those problems," said senior economist Louis Kuijs at the World Bank Beijing Office.     He told Xinhua one reason was that Chinese banks were less involved in the highly sophisticated financial transactions and products.     "They were lucky not to be so-called developed, because this (financial crisis) is very much a developed market crisis." Farmers harvest rice in 850 farm in Northeast China's Heilongjiang Province on Sept. 26, 2008.    A few Chinese lenders were subject to losses from investing in foreign assets involved in the Wall Street crisis, but the scope and scale were small and the banks had been prepared for possible risks, Liu Fushou, deputy director of the Banking Supervision Department I of the China Banking Regulatory Commission, told China Central Television (CCTV).     Chinese banks had only invested 3.7 percent of their total wealth in overseas assets that were prone to international tumult, CCTV reported. The ratio of provisions to possible losses had exceeded 110 percent at large, state owned listed lenders, 120 percent at joint stock commercial banks and 200 percent at foreign banks.     Kuijs noted most of the banks resided in China where capital control made it more difficult to move money in and out. Besides, the country's large foreign reserves prevented the financial system from a lack of liquidity, which was troubling the strained international markets.     "At times like this, one cannot rule out anything," he said. "But still we believe the economic development and economic fundamentals in China are such that it's not easy to foresee a significant direct impact on the financial system."     However, he expected an impact on China's banks coming via the country's real economy, as exports, investment and plans of companies would be affected by the troubled world economy and in turn increase pressure on bad loans.     Wang Xiaoguang, a Beijing-based macro-economist, said the growing risks on global markets would render a negative effect on China in the short term but provided an opportunity for the country to fuel its growth more on domestic demand than on external needs.     He urged while China, the world's fastest expanding economy, should be more cautious of fully opening up its capital account, the government should continue its market reforms on the domestic financial industry without being intimidated.     Chinese banks had strengthened the management of their investments in overseas liquid assets and taken a more prudent strategy in foreign currency-denominated investment products since the U.S.-born financial crisis broke out, CCTV reported.

BOAO, Hainan, April 12 (Xinhua) -- The economic and trade exchanges and cooperation between the Chinese mainland and Taiwan was facing a historical opportunity and needed joint efforts from both sides for further progress, Hu Jintao, general secretary of the Communist Party of China Central Committee, said on Saturday.     Hu made the remarks while meeting with Vincent C. Siew, chairman of the Taiwan-based Cross-Straits Common Market Foundation at the Boao Forum for Asia. Hu Jintao (R), general secretary of the Communist Party of China Central Committee, meets with Vincent Siew, chairman of the Taiwan-based Cross-Straits Common Market Foundation, in Boao, south China's Hainan Province, April 12, 2008Hu said under the new circumstances, the mainland would continue promoting cross-Straits economic and cultural exchanges and cooperation.     The mainland would also make efforts to push forward negotiations on weekend charter flights and mainland tourists' travel to Taiwan, Hu said.     He said the mainland would continue being concerned about Taiwan compatriots' welfare and protecting their legal rights and interests, and would step up efforts to restore cross-Straits negotiations and talks.     Hu said the fact that the forum was attended by so many participants from all walks of life home and abroad reflected from one aspect Asian countries and regions' strong desire to reinforce communication and cooperation and seek win-win solutions.     "The fact also inspired us to think deep about cross-Straits economic exchanges and cooperation under the new circumstances," Hu said.     Siew said the economies of the mainland and Taiwan were closely related, and the development of trade and economic relations had contributed to cross-Straits stability.     He hoped the weekend charter flights program would be launched as soon as possible and mainland tourists would soon travel to Taiwan, adding that direct flights and normal trade ties had become an inevitable choice.     Hu said the cross-Straits economic exchanges and cooperation had achieved a prominent progress after 20 years of development. Facts proved that the economic exchanges and cooperation was the most vigorous factor in the cross-Straits relations and an effective way to benefit people on both sides and expand their common interests.     Hu pointed out that in recent eight years, the cross-Straits relations "suffered twists and turns for reasons known to all", and people on both sides were not willing to see that.     He stressed that the peaceful development of the cross-Straits relations was the shared will and common interests of compatriots on both sides.