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SHANGHAI, Nov. 16 (Xinhua) -- U.S. President Barack Obama said here Monday the U.S.-China cooperation enables both countries to be more prosperous and more secure and that young people are the best ambassadors.     Obama had a dialogue with 500-strong Chinese college students Monday afternoon in the Shanghai Science and Technology Museum, a highlighted activity in the first stop of his four-day maiden trip to China since taking office in January.     He covered a wide range of topics, notably the outlook of Sino-U.S. cooperation and youth exchanges between the two countries, while delivering opening remarks and answering questions from the students and Chinese Internet users.     POSITIVE SINO-U.S. TIES     Obama said China is a nation that encompasses both a rich history and a belief in the promises of the future and that the same can be said of the relationship between the two countries. The Shanghai Communiqué signed 37 years ago opened the door to a new chapter of engagement between the governments and the people of the two countries, he said.     "Today we have a positive, constructive and comprehensive relationship that opens the door to partnership on the key global issues of our time: economic recovery, development of clean energy, stopping the spread of nuclear weapons and the surge of climate change, and the promotion of peace and security in Asia and around the globe," Obama said.     "We have seen what is possible when we build on our mutual interests and engage on the basis of mutual respect."     The success of that engagement depends on understanding, on sustaining an open dialogue and learning about one another and from one another, he said.     "Our relationship has not been without disagreement and difficulties. But the notion that we must be adversaries is not predestined," Obama said, noting that the two countries "share much in common" while they are "different in certain ways."     He said one country's success need not come at the expense of another.     "That is why the United States insists we do not seek to contain China's rise; on the contrary, we welcome China as a strong and prosperous and successful member of the community of nations, a China that draws on the rights, strengths and creativity of individual Chinese like you," Obama said to the students.     YOUNG PEOPLE BEST AMBASSADORS     Obama announced in his speech that the United States would further expand its youth exchanges with China by increasing the number of students studying in China to 100,000.     "These exchanges mark a clear commitment to build ties among our people, as surely as you will help us determine the destiny of the 21st century," he said.     He said young people in China and U.S. are the best ambassadors and that cooperation between the countries should go beyond the governments.     "I believe strongly that cooperation must grow beyond our government. It must be rooted in our people, in the studies we share, in the business we do, in the knowledge that we gain, and even in the sports we play, and these bridges must be built by men and women just like you, and your counterparts in America," Obama said.     "I am absolutely confident that America has no better ambassadors to offer than our young people, for they just like you are filled with talent, energy and optimism about the history that is yet to be written.     "So let this be the next step in the steady pursuit of cooperation between our two nations and the world," Obama said.     "If there is one thing we can take from today's dialogue, I hope that it is a commitment to continue this dialogue going forward," Obama said in his speech. 

BEIJING, Dec. 17 (Xinhua) -- Premium of China's insurance companies hit 1.02 trillion yuan (149.6 billion U.S. dollars) in the first 11 months of this year, up 11.65 percent from a year earlier, according to the China Insurance Regulatory Commission Thursday.     The year would be the first year that China's insurance premiums exceeded 1 trillion yuan, data from the commission showed.     From January to November, premium of property insurance rose 22.28 percent year on year to 264.02 billion yuan, and that of life insurance was 757.66 billion yuan, an annual increase of 8.37percent.     The commission said the country's insurance firms were expected to eye combined profits at 46.09 billion yuan in the first 11 months, an increase of 57.45 billion yuan over the same period of last year.     Profits of the country's insurers nationwide was about 26.1 billion yuan in the first half, up 98 percent, the commission said in July.

WASHINGTON, Dec. 30 (Xinhua) -- The U.S. International Trade Commission (ITC) on Wednesday slapped punitive penalties to imports of some 2.6 billion dollar oil country tubular goods (OCTG) from China, a move might escalate trade disputes between the two countries.     The ITC "has made affirmative determination in its final phase countervailing duty (CVD) investigation" concerning the oil pipes from China, said the ITC in a statement.     The trade agency has determined that "a U.S. industry is materially injured or threatened with material injury by reason of imports of certain oil country tubular goods from China that the U.S. Department Commerce has determined are subsidized," according to the statementThe U.S. Commerce Department made a final determination last month to impose duties between 10.36 percent and 15.78 percent on the pipes, which are mostly used in the oil and gas industries.     The ITC ruling paved the way for the imposition of duties.     The Commerce Department made its preliminary determination of CVD in September.     On Nov. 4, the Commerce also set preliminary antidumping (AD) duties on such imports from China, which is the biggest U.S. trade action against China.     Under that preliminary determination, Commerce set a 36.53 percent antidumping levy on OCTG from 37 Chinese companies, while some other Chinese companies will receive a preliminary dumping rate of 99.14 percent.     Commerce will make its final determination of antidumping duties early next year.     If Commerce makes an affirmative final determination, and the ITC makes an affirmative final determination that imports of oil tubular goods from China materially injures, or threaten material injury to, the domestic industry, Commerce will issue an antidumping duty order.     The antidumping and countervailing petition case was filed in April this year.     From 2006 to 2008, imports of OCTG from China increased 203 percent by value and amounted to an estimated 2.7 billion dollars in 2008, said the U.S. Commerce Department.     China strongly opposed the U.S. decision, saying that it is a protectionist move.     "China expressed strong dissatisfaction and is resolutely opposed to this," said China's Ministry of Commerce (MOC) spokesman Yao Jian in a statement in September.     "This does not comply with WTO agreements on subsidies. The U.S. used an incorrect method to define and calculate the subsidies, which has resulted in an artificially high subsidy rate, hurting Chinese firms' interests," said Yao.     "We hope the United States can get rid of the bias and admit China's market economy status soon to tackle the double standards thoroughly and give Chinese enterprises equal and fair treatment," Yao also said last month.     The U.S. industries also expressed strong dissatisfaction with the trade case, saying such a protectionist move would hurt U.S. companies.     The trade restrictions would "hurt U.S. using industries by raising their costs and making sources of supply uncertain," Eugene Patrone, executive director of the Consuming Industries Trade Action Coalition (CITAC) told Xinhua in September.     He noted that the tariffs would make oil and gas exploration and production be more expensive, projects be delayed, "which is against our national goal of being less dependent on imported energy."     The onset of the global recession appears to have set off an increase in trade disputes around the world.     Globally, new requests for protection from imports in the first half of 2009 are up 18.5 percent over the first half of 2008, according to the World Bank-sponsored Global Anti-dumping Database organized by Chad P. Bown, a Brandeis University economics professor.     That increase follows a 44 percent increase in new investigations in 2008.     And China has become the main target of the rising protectionism.     In another steel dispute, the U.S. Commerce Department said on Tuesday that it will impose antidumping tariffs of 14 percent to 145 percent on imports of 91 million dollar steel grating from China. A final determination will be made by the department in April 2010.

TAIPEI, Oct. 21 (Xinhua) -- Taiwan leader Ma Ying-jeou vowed Wednesday that he will push forward the reform of the Kuomintang (KMT) "at full speed" four days after he took the position of the party's chairman.     He said his aim of running for the chairman was to guarantee closer cooperation between the party and the administrative authorities to make the administrative work more effective.     Ma made the remarks Wednesday at the first conference for the Central Standing Committee of the KMT since he took the position.     Ma stressed that it is now a key period to strengthen the relations between the party and the administrative authorities as the island's economy is showing signs of revival.     During the conference, the party approved a decision to remove two officials from their newly-elected positions as the members of the KMT Central Standing Committee for being involved in vote-buying.

BEIJING, Dec. 8 (Xinhua) -- China's exchange rate regulator said Tuesday it would work to promote balance of payment next year by stabilizing exports while expanding imports.     The promotion of balance of payment should be the fundamental of the work in 2010 in order to safeguard the nation's economic and financial security, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE).     He said SAFE would continue to diversify the investment of foreign reserves, and ensure the safety, liquidity and the value of the mounting assets, which have ballooned to more than 2 trillion U.S. dollars.     The authority would also step up supervision of the cross-border money flow to protect national financial safety, he said.     Yi also noted SAFE would seek chances to push forward reforms in key areas and links of the foreign exchange management but didn't elaborate.