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BEIJING, May 10 (Xinhua) -- China will conduct consultations with the European Union on the steel fastener trade dispute in line with the rules of the World Trade Organization's disputes settlement system, said an official with the Ministry of Commerce Monday.China's anti-dumping investigation into carbon-steel fastener imports from the EU was based on Chinese regulations and the assessment of the harm to the domestic industry, said the official.The remarks came after the EU filed a complaint Sunday against China at the World Trade Organization over Beijing's decision to impose anti-dumping measures against carbon-steel fastener imports, which included self-tapping screws, bolts and gaskets.Chinese fastener importers were required to pay a deposit to customs based on the margins -- ranging from 16.8 to 24.6 percent -- between the normal value of the products and the alleged dumping price since Dec. 28, 2009.Initial investigations by the Chinese authorities showed the EU had allegedly dumped carbon-steel fasteners on the Chinese market, which caused substantial damage to the local industry.The temporary anti-dumping measures were adopted to safeguard the legitimate rights and interests of the domestic producers, the official said.China started an anti-dumping probe into EU carbon steel fasteners on Dec. 29, 2008, after an application for a probe by the fastener branch of the China General Machine Components Industry Association on behalf of Chinese fastener producers.

TASHKENT, May 3 (Xinhua) -- Chinese Finance Minister Xie Xuren made three proposals to the Asian Development Bank (ADB) for its future development here on Monday.At a business session of the 43rd annual meeting for ADB Board of Governors that kicked off Monday, Xie said the ADB should fully tap its potential as a knowledge platform in seeking ways for Asia 's future development.It should also promote collective economic expansion of Asia by deepening regional economic cooperation, said Xie.Thirdly, the ADB should raise its assistance efficiency and enhance its capacity for institution building, while making active contribution to the regional prosperity and stability, he added.All Asian members are still facing difficult tasks of retaining economic growth and adjusting economic structure, because the basis for world's recovery from the global financial crisis has not been consolidated so far, said the Chinese minister.On the sidelines of ADB's first annual meeting in Central Asia, Xie also met with Uzbek President Islam Karimov, Uzbek First Deputy Prime Minister and Finance Minister Rustam Azimov and heads of delegations including Bangladesh, New Zealand and Fiji.

NEW YORK, April 26 (Xinhua) -- Jean-Claude Trichet, the president of the European Central Bank, called in New York on Monday for strengthening global governance amid the economic recovery process.The crisis showed that gaps in the system of global governance, in terms of both efficiency and legitimacy, have to be filled, Trichet said in a keynote speech at the Council on Foreign Relations in New York.Global governance in the financial sphere has fared during the crisis, he pointed out. "One dimension of international cooperation that I consider to have worked particularly well during the financial crisis has been that among central banks, both bilaterally and channeled through the various Basel-based committees.""But as much as some aspects of global governance appear to have passed the severe test of the global crisis, we should remember the significant shortcomings that may have contributed to creating the conditions for the crisis to happen in the first place," he added."One is the lack of coordination in financial regulation that was pervasive before the crisis and which encouraged financial institutions to engage in a large degree of regulatory arbitrage. This was the unavoidable result of the fact that while financial players were becoming increasingly global, and despite the remarkable efforts of the Basel Committee in respect of the banking sector, financial regulation remained largely national, with only relatively weak coordination at the international level, " said the president.

SHANGHAI, May 1 (Xinhua) -- The Shanghai World Expo formally opened its door to the highly avid public Saturday morning after years of planning and preparation.Top Chinese political advisor Jia Qinglin and International Exhibitions Bureau President Jean-Pierre Lafon activated the opening device together at a commencement ceremony.The Expo, carrying a theme of "Better City, Better Life", reflects the crystallization of wisdom about urban construction and vision of a better future life, Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, said while addressing the ceremony.The opening ceremony of the site of World Expo 2010 is held in Shanghai on May 1, 2010. In his speech, Jia expressed gratitude to all participants, the BIE and those who toiled for the preparation for the grand event.In the Expo, visitors could enjoy pavilions with original design, explore scientific and technological progress, enjoy various cultural events, and take part in symposiums to fully experience the mankind's pursue for development of civilization, he said.

NANJING, May 31 (Xinhua) -- Zhu Yongxiang, a 72-year-old Chinese communist, pondered and cast his ballot to vote for the village communist party chief in the first direct election held in his village Houcong earlier this month."This is real democracy since party members' votes decide who the winner is instead of nominations and appointments," said Zhu, a villager with 50 years of membership in the Chinese Communist Party (CPC).He gave his support to Chen Jiagui in the election for party secretary in Houcong Village in Nanjing, capital of east China's Jiangsu Province.Chen beat his rival 121 to 32 votes in the election observed by 200 party members, some of whom came to the event with mud still on their shoes, fresh from work in the fields.From April to June, similar direct elections were run in 806 villages in Nanjing, where CPC committees in 363 neighborhoods in urban areas have piloted general elections for grassroots leaders since last year."The CPC has been the ruling party for over 60 years, since New China was founded in 1949. However, its long-standing party cadre selection model has caused some social conflicts and tension between the public and grassroots CPC cadres," said Professor Shao Jianguo with the Party School of the Nanjing Municipal CPC Committee.He pointed out in the selection method, appointed officials get the "power" from the the higher-ups rather, and consequently they are likely to care more about their superiors than the masses.With the ongoing direct elections in villages, Nanjing has become the only Chinese city to have extended the direct elections of grassroots CPC cadres to both urban and rural areas on a large scale, said the professor.The CPC chose the city to pilot the first direct election in one neighborhood in 2004, a move considered a significant step toward boosting democracy within the Party, said Cai Xia, a professor with the Party School of the CPC Central Committee, adding that it is expected to push forward democracy in Chinese society,"Intra-party democratic reform is crucial to the Party's foundation, since it brings changes to the kind of people that become CPC cadres," said Shao.Newly-elected party chiefs in the 806 villages with a population of 2.7 million are expected to take office in June.One of them, Chen Jiagui, the new party chief in Houcong Village, distinguished himself from four other candidates, who included township officials and college graduates.Actually, Chen had worked as the appointed party chief in the village for the past 10 years. He was thrilled about winning the post in the election."This time, the victory was hard won. I feel the weight of each ballot in my favor," he said.Villagers said Chen, a successful seedling tree grower himself, had led them to develop the tree plantation, which has become the backbone economy for boosting farmers' income."The party secretaries elected last year in urban communities have done a good job in helping residents resolve problems in daily life, like repairing street lights and roads," said Wang Qi, director of the organization department of Nanjing municipal CPC committee.He said Party members hope the village elections help boost the rural economy and raise farmers' income.Wang said the Nanjing committee has drafted election procedures based on experiences from the elections."The elections must abide by rules. There are procedures for electioneering, for example, and qualification examinations for candidates," he said.