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BEIJING, May 17 -- Shanghai will step up efforts to lure more talent, beef up development of its legal system and improve its credit database as part of efforts to develop a global financial center, Vice Mayor Tu Guangshao said Saturday.    The city will also enable financial markets and institutions to play an important role in financial innovation and make the Pudong New Area a pioneer for financial reforms, Tu told the Lujiazui Forum in Shanghai.     "To realize our goals, we need a combination of forces," said Tu. "We need guidance and support from the central government in terms of rules' drafting and coordination. We also need financial markets and companies to make contributions." From left: Xu Xiaonian, professor of CEIBS, Hu Zuliu, chairman of Goldman Sachs China, Xie Guozhong, board member of Rosetta Stone Advisors, Ha Jiming, chief economist of China International Capital Corp and Wang Qing, chief economist of Morgan Stanley China discuss issues at the Lujiazui Forum Saturday    Shanghai must have "breakthrough and innovation" in its measures to attract financial talents, the most important element in building the city into an international financial hub, Tu said.     The city should also have a solid financial legal system and the municipal government is working to improve the arbitrary, hearing and verdict processes of financial cases, according to Tu.     He added that local government will cooperate with the People's Bank of China to improve the city's credit environment. One focus will be the establishment of a credit ratings system for small- and medium-sized enterprises to facilitate fundraising, Tu said.     Xu Lin, Party Secretary of Pudong New Area, told the forum the district will shore up its preparation for financial innovation, including establishing an over-the-counter equity exchange for start-up technology firms.     Pudong will also trial programs to settle cross-border trade using the yuan and to set up consumer finance companies to fund people's purchases of durables such as home appliances and electronics.     Xu also noted that Pudong will fast track the development of financial services for the shipping industry as China pursues building Shanghai into an international financial and shipping hub by 2020.     "The district will encourage capital from various sources to help innovation and upgrade industry," Xu said. "More credit support will be given to small companies in terms of innovation."     Financial experts attending the two-day Lujiazui Forum, which ended Saturday, called on the city to take more measures to retain talent and financial institutions.     "The major European and US markets are reshuffling after the crisis and it has created a good opportunity for Shanghai to lay a sound basis and infrastructure for rising as an international financial center," said Laura Cha, deputy chairman of the Hongkong and Shanghai Banking Corp.     "We should learn lessons from them and avoid the mistakes they have made."     Shanghai is still lagging behind in terms of financial talent both in quality and quantity, she added.     She suggested shoring up the city's financial high education sector and rotating financial talents to develop more overseas experience.

BEIJING, April 30 (Xinhua) -- Chinese President Hu Jintao met Japanese Prime Minister Taro Aso here on Thursday, calling on the two sides to cherish achievements made in bilateral ties.     "Since my visit to Japan in May last year, related parties on the two sides have made every effort to implement the consensus and decisions agreed upon during the visit, and had attained important progress in promoting the strategic and mutually-beneficial relations between China and Japan," Hu told Aso at the Great Hall of the People.     "These achievements have not come easy and should be cherished by us," said Hu.     Hu noted that as the global financial crisis spreads, trade between China and Japan had declined obviously. He urged the two sides to take effective measures to put bilateral trade and investment back on the track of stable growth as soon as possible. Chinese President Hu Jintao (R) meets with Japanese Prime Minister Taro Aso in Beijing, capital of China, April 30, 2009    China and Japan must step up information exchange and policy coordination, explore new areas of cooperation and exploit the full potential of their cooperation. They must particularly ensure successes in cooperation in energy-saving and environmental protection, information and telecommunications and high-tech industries, said Hu.     Sino-Japanese trade slid by 7.4 percent year on year in December and plumped by 24 percent in the first quarter of this year, figures from the Chinese Ministry of Commerce show.     Hu noted personnel and culture exchanges have an important and far-reaching impact on the development of Sino-Japan relations.     He urged the two countries to make full use of the existing channels and mobile every resources available to raise bilateral personnel and cultural exchanges, especially the exchanges between youths in general and young officials in particular, to a new height.     In multilateral areas, China and Japan should focus on advancing cooperation in East Asia so that the sub-region will collectively respond to global challenges such as the current financial crisis, he said.     The two countries must further enhance their coordination and cooperation in such regional mechanisms as the Association of Southeast Asian Nations plus China, Japan and the Republic of Korea (ROK), the East Asia summit and the China, Japan plus ROK format, so that together they can promote peace, stability and development in Asia and the world at large, Hu said.     Aso said since Hu's successful visit to Japan in May last year, the two sides have made important progresses in implementing the projects agreed upon during the visits.     He expressed Japan's appreciation of the fact that the two countries have maintained frequent exchanges of visits by and good communications between state leaders.     Japanese and Chinese leaders have also met for many times in bilateral and multilateral occasions to exchange opinions on bilateral relations and issues of common concern, said Aso.     Japan and China are neighbors. Sound cooperation in political and economic fields and the continuous advancement of the strategic and mutually-beneficial relationship between them have laid a solid foundation for the future of this relationship, said the Japanese prime minister.     Aso said it is Japan's wish that the two countries will continue with the close communications at high level, strengthen cooperation in various fields, step up coordination in coping with the international financial and economic crisis, and promote youth exchanges.     Aso arrived in Beijing on Wednesday for a two-day China tour, his first official visit to China since he took office in September.

GENEVA, April 22 (Xinhua) -- Close international cooperation is needed to fight all forms of racism and racial discrimination, which is the enemy of the whole human society, a senior Chinese diplomat said here on Wednesday.     "China proposes that the international community work closely together to form a strong united front in the fight against racism," said Li Baodong, Chinese ambassador to the United Nations Office in Geneva, in an address to the ongoing Durban Review Conference.     Governments should fully recognize the huge damage that racism has caused to various human rights, international security and human development, and pursue actively the policy of "zero tolerance" at both the national and international level, Li told more than 100 delegations participating at the anti-racism conference.     The five-day conference, which opened on Monday, is a follow-up meeting to the World Conference against Racism held in Durban, South Africa in 2001.     Delegates adopted by consensus a final anti-racism declaration on Tuesday despite the boycott of the meeting by quite a few Western countries, including the United States, citing concerns that the meeting could be used as a forum to criticize Israel.     The atmosphere of the conference was also damaged on Monday after dozens of European delegates walked out of the conference room in protest to a speech made by Iranian President Mahmoud Ahmadinejad which likened Israel to a racist regime.     According to the Chinese ambassador, countries should enhance dialog and communications to resolve political differences and refrain from creating a breeding ground for hatred.     It's of great significance that countries have gathered once again to deliberate on the issue of racism eight years after the holding of the first UN anti-racism conference, he said.     Li also stressed the need to further enhance the effectiveness of various mechanisms established after the 2001 conference to address racism, racial discrimination, xenophobia and related intolerance, with a view to achieving better synergy, coordination, coherence and complementarity in their work.     In addition, he suggested a renewal or reinforcement of the international definition for racism, as many new forms of racism and racial discrimination are emerging along with the current global financial, food and energy crises as well as the threat of climate change.     "The Chinese government is against all forms of racism, and it has been actively engaged in various international anti-racist activities," Li said.     "With the opportunity provided by this conference, China is ready to work will all governments and the civil society to create a world free of discrimination, hatred, fear and prejudice," he added.

st groups travel to the island after a meeting between the mainland's Association for Relations Across the Taiwan Strait chairman Chen Yunlin and the Taiwan-based Straits Exchange Foundation chairman Chiang Pin-kun in June last year. The first tourist group arrived in Taiwan on July 4.

BEIJING, July 14 (Xinhua) -- Chinese equities gained 2.1 percent to hit a 13-month high Tuesday after three days of losses, boosted by financial, real estate and steel shares.     The benchmark Shanghai Composite Index closed at 3,145.16 points, up 64.6 points, or 2.1 percent. The Shenzhen Component Index closed at 12,991.06 points, up 330.51 points, or 2.61 percent.     Total turnover expanded to 280.53 billion yuan (41.07 billion U.S. dollars) from 268.78 billion yuan on the previous trading day.     Winners outnumbered losers by 795 to 67 in Shanghai and 667 to 74 in Shenzhen. This multiple exposure picture shows an investor at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares    "Strong investor optimism and a rebound in major markets in the United States and Europe driven by financial shares helped push up the gains in Chinese equities," said Qin Xiaojun, an analyst with Galaxy Securities.     The Dow Jones Industrial Average gained 1.4 percent Monday with Bank of America, Citigroup, and J.P. Morgan Chase, three of its banking components, posted solid gains.     Positive signals strengthened investor confidence as China posted a 19.6 percent fiscal revenue increase in June Monday.     China's central bank Monday called on financial institutions to improve financial support to stimulate the economy.     Brokerage shares performed well. Guoyuan Securities rose by the daily limit of 10 percent to close at 24.97 yuan, and Hongyuan Securities advanced 6.19 percent to 26.6 yuan.     The real estate sector posted widespread gains as the Beijing-based Vantone Real Estate Co., Ltd and Xiamen-based Chuangxing Real Estate Co., Ltd reached the daily limit of 10 percent to close at 13.83 yuan and 11.31 yuan respectively.     Anyang Iron and Steel Group Co., Ltd and Guangxi Liuzhou Iron and Steel Group Co., Ltd also rose by the daily limit to 5.48 yuan and 9.01 yuan respectively.Investors are seen at a stock brokerage in Haikou, capital of south China's Hainan Province, on July 14, 2009. The benchmark Shanghai Composite Index on Tuesday closed at 3,145.16 points, up 64.6 points, or 2.1 percent to hit a new 13-month high led by banking shares.