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NEW DELHI, Jan. 9 (Xinhua) -- Chinese ambassador to India Zhang Yan Monday proposed that China and India make more efforts to develop economic ties.At a meeting on China-India relations attended by Indian National Security Advisor S. Menon, the ambassador said the Chinese side is fully aware of the necessity to narrow the trade gap between the two sides in order to ensure the sustainability of bilateral trade cooperation."China will take measures to increase the import of Indian products which have market demand in China. But our cooperation should not be limited in trade only," said the ambassador.He suggested that China and India should diversify their trade structure, expand the scope and items, and increase the technical content and added value to the products, while expanding into financial, service and investment sectors.The envoy said China and India should initiate policy dialogue and coordinate their economic development strategy in order to ensure steady growth of respective economy, encourage mutual investments, consider the free trade agreement or regional trade arrangement, and increase tourism cooperation.Zhang said that as an encouraging sign of economic ties, the bilateral trade volume is set to hit 70 billion U.S. dollars in 2011, an over 20 percent increase over the previous years, while China set up its first branch of the Industrial and Commercial Bank of China in Mumbai last year.

BEIJING, Nov. 7 (Xinhuanet) -- A huge asteroid will pass closer to Earth than the moon on Tuesday, but experts say there is no cause for alarm.Asteroid 2005 YU 55 will pass about 300-thousand kilometers from the earth. The giant space rock is about 400 meters in diameter. The close encounter will occur at 23:28 Greenwich Mean Time. Computer models showing the asteroid’s path for the next 100 years show there is no chance it will hit Earth during that time.Previous studies show the asteroid is what is called a C-type asteroid that is likely made of carbon-based materials and some silicate rock.

SAN FRANCISCO, Oct. 5 (Xinhua) -- Google announced Wednesday that Google Earth, the tech giant's virtual globe, map and geographical information program, has been downloaded more than one billion times since it was first introduced in 2005.According to Google's official blog, there have been more than one billion downloads of the Google Earth desktop client, mobile apps and the Google Earth plug-in. To celebrate the milestone, Google is aggregating all the interesting ways people have used Google Earth around the world and posting them on "www. OneWorldManyStories.com.""We never imagined our geospatial technology would be used by people in so many unexpected ways," said Google in the blog post.Google Earth maps the Earth by images obtained from satellite imagery, aerial photography and GIS (geographic information system) 3D globe. It also has versions of Moon, Mars and Sky, enabling users to see images and videos of the planets and distant galaxies.It is currently available in Google Earth, a free version with limited function, as well as Google Earth Pro and Google Earth Enterprise, subscription services with additional features intended for commercial use.

BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified Foreign Institutional Investors (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.The move is expected to widen the investment channel of overseas RMB funds and add new momentum to the country's bid to make the RMB an international currency.Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the rules jointly released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity funds should account for no more than 20 percent.The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.It will also help diversify investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.The RMB is not fully convertible under the capital account but China has stepped up efforts to make the currency more international over the past few years.The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.

HEFEI, Nov. 25 (Xinhua) -- China's leading private automaker, Chery Automobile Co., Ltd., is expected to export a record 170,000 units of vehicles in 2011, marking the highest annual export figure in the company's history, a company manager said Friday.Chery exported 135,556 units of vehicles in the first ten months of this year, up 77.3 percent from a year earlier. This total accounts for 35.3 percent of total passenger vehicle exports of domestic brands, said Feng Ping, deputy general manager of Chery International.The central Anhui province-based carmaker started exporting cars in 2001, when it sold ten cars to Syria, and has since led export sales amongst Chinese automakers.The company exports its products to more than 80 countries and regions, and has established 3 research institutions, a service network of 1,000 dealers and more than 800 service stations overseas.