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BEIJING, June 8 (Xinhua) -- The new alliance between Rio Tinto and BHP Billiton Ltd. might lead to a monopoly operation and China should be prepared for anti-monopoly measures, warned an expert.     Mei Xinyu, an economist with the Ministry of Commerce (MOC), told Xinhua Monday that China should closely watch the joint venture process of the two mining giants and be ready to work with other countries to curb market manipulation when necessary, with the help of the anti-monopoly law.     Rio Tinto scrapped the proposed 19.5 billion U.S. dollars of investment by Aluminum Corp. of China, or Chinalco, on Friday.     The company announced a cooperative venture with BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up a joint venture to run the iron ore resources of both companies in west Australia.     It was "something other than economic concern", said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission.     Almost half of China's iron ore needed to be imported, more than half of which was imported from Rio Tinto and BHP Billiton, according to Shan of CISA.     Colin Barnett, premier of Western Australia, told Australian media last Friday China was not on the list of approvals that the two companies needed to obtain.     Internationally they would need the approval of the European Union and possibly the U.S. Justice Department, apart from investigations at nation and state level, he said.     Also, Zhang Junsheng, director of the WTO Research Institute at the University of International Business and Economics in Beijing, said China might not have a say on the issue, as neither Rio Tintoor BHP Billiton had an affiliated company in China.

BEIJING, May 25 (Xinhua) -- Chinese top political advisor Jia Qinglin met with Taiwan-based Kuomintang (KMT) Chairman Wu Poh-hsiung and his delegation at the Great Hall of the People in Beijing Monday afternoon.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, said the cross-Straits relationship had made breakthroughs after a historic turning point in the past year.     Improved relations had yielded practical benefits for people on both sides, and cross-Straits peace and stability had been highly praised by the international community, said Jia. Jia Qinglin (R), chairman of the National Committee of the Chinese People's Political Consultative Conference, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, shakes hands with Kuomintang (KMT) Chairman Wu Poh-hsiung during their meeting at the Great Hall of the People in Beijing, capital of China, May 25, 2009    The KMT and the Communist Party of China (CPC) had shouldered greater responsibility in promoting the cross-Straits relationship, said Jia, also member of the Standing Committee of the CPC Central Committee Political Bureau.     At the invitation of CPC Central Committee General Secretary HuJintao, the KMT chairman arrived in Beijing on Monday and will meet Hu on Tuesday to exchange ideas on the cross-Straits relationship.     Jia said Wu's meeting with Hu would promote political mutual trust.     Jia proposed that the two sides enhance exchanges and intensify trust to make more practical achievements for the public interest.     He stressed that interaction and inter-party dialogue would play an irreplaceable role in keeping the development of cross-Straits relations on a peaceful track and building trust.     Jia said dealing with the challenges of the global downturn was an issue calling for cooperation.     Further, both sides should find opportunities in the crisis to promote the normalization of the cross-Straits economic relationship through more institutionalized economic cooperation, Jia told the KMT chairman.     Jia said the Straits Forum held in the mainland's Fujian Province had become a new platform for communication by people on both sides, who were the driving force of cross-Straits relations.     Wu said that the great progress of cross-Straits relations in the past year had proved that the common prospects for peaceful cross-Straits development, agreed by leaders of the two parties in2005, fully met the needs of people on both sides.     The two parties had achieved unprecedented interaction and should unswervingly continue their exchanges in a proper direction, Wu said.     Both the people in the mainland and Taiwan were Chinese and responsible for the revitalization of the nation and its culture, Wu said.

Urumqi, June 21 (Xinhua) -- Chinese Vice President Xi Jinping has called for efforts to strengthen and improve grassroots organizations of the Communist Party of China (CPC) to ensure prosperity, development, harmony and stability in ethnic minority areas.     Xi, who is also a member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, made the call during his research trip to northwest China's Xinjiang Uygur Autonomous Region from June 17 to 21. Chinese Vice President Xi Jinping (C) talks with a worker while inspecting Xinjiang Joinworld Co., Ltd in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21During his stay in the autonomous region, Xi toured Kashi, Bayingholin, Kalamayi, Shihezi and Urumqi cities, where he visited villages, communities, companies, schools and the Xinjiang Production and Construction Corps.     In Kashi, an area frequently shaken by earthquakes in recent years, Xi looked into the progress in building anti-earthquake houses. In Urumqi, the regional capital of Xinjiang, he attended a class of a high school and talked with students. Chinese Vice President Xi Jinping (2nd R) talks with a farmer at Baren Village, Shule County in northwest China's Xinjiang Uygur Autonomous Region, June 18, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.While visiting some big oil and chemical projects, the senior official called for developing a recycled economy and protecting resources and the environment.     Before his departure, Xi addressed a workshop for local Party and government officials. Chinese Vice President Xi Jinping (back L3) talks with students of the 15th Middle School of Urumqi in northwest China's Xinjiang Uygur Autonomous Region, June 20, 2009. Xi Jinping made a research trip to Xinjiang from June 17 to 21.

TAIPEI, May 5 (Xinhua) -- Former Taiwan leader Chen Shui-bian has been indicted on new corruption charges, prosecutors said here Tuesday.     While in office, Chen and his wife Wu Shu-chen took 10 million New Taiwan dollars (302,000 U.S. dollars) in bribes from a local businesswoman, and demanded bribes and donations totaling 300 million New Taiwan dollars from a former banker, prosecutors said at a press conference.     Chen was first indicted on Dec. 12 for money laundering and bribery. He and his wife were charged with embezzling 104 million New Taiwan dollars (3.15 million U.S. dollars) in public funds and accepting bribes of at least 9 million U.S. dollars in a land purchase deal. Chen and his collaborators are also accused of laundering the illegal income.     Chen has been in detention since last December and faces life in prison if convicted.     He was elected to the post of Taiwan leader eight years ago but was ousted in an election in May last year.

BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

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