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BEIJING, Nov. 28 (Xinhua) -- China's top political advisor, Jia Qinglin, attended a ground-breaking ceremony for construction of Beijing Hyundai Motor's third auto plant in Shunyi District in suburban Beijing Sunday. Prior to the ceremony, Jia met with Hyundai Motor Chairman Chung Mong-koo and other guests. China and the Republic of Korea (ROK) have been upgrading relations, as well as political and cultural exchanges, since the forging of diplomatic ties in 1992, Jia noted.Trade between the two countries topped 150 billion U.S. dollars during January-September this year, up 36.7 percent year on year. China has become the ROK's largest trade partner and largest export market, Jia said, adding that the ROK is now China's third largest trade partner. Jia Qinglin (R, front), chairman of the National Committee of the Chinese People's Political Consultative Conference, meets with Hyundai Motor Chairman Chung Mong-koo (L, front) before attending a ground-breaking ceremony for construction of Beijing Hyundai Motor's third auto plant in Shunyi District in Beijing, Nov. 28, 2010. A joint-venture and subsidiary of Beijing Automotive Industry Holdings and Hyundai Motor, Beijing Hyundai was established in 2002 and manufactures Hyundai-branded automobiles for the Chinese market.While China' s economy has been growing at a stable and relatively fast pace, the automobile industry, a representative pillar sector in China, has shown robust growth and is expected to produce more than 15 million automobiles this year, Jia said.Also, the Chinese government has been encouraging automobile manufacturers to boost their research capacity and production of clean-energy-powered automobiles, seeking higher requirements for Beijing Hyundai in its future development, he said.Facing the new conditions, Beijing city and ROK Hyundai Motor must cooperate closely to improve high-technology and management levels to grasp the opportunities created by the boom in the Chinese automobile sector, he said.Beijing Hyundai's third plant, located in Yangzhen Township in Shunyi District, will have an annual production capacity of 400,000 vehicles when completed in 2012. Hyundai's two plants, also in Shunyi, currently produce a combined 600,000 units per year.

PORT LOUIS, Jan. 8 (Xinhua) -- China has signed an economic and trade cooperation accord with Mauritius worth about 9 million U.S. dollars, including 6 million dollars grant and 3 million dollars interest-free loan.The accord was signed on Friday and the signing ceremony was attended by visiting Chinese Vice Premier Hui Liangyu and Mauritius Vice Prime Minister and Minister of Finance and Economic Development Pravind Kumar Jugnauth.According to the accord, the grant and loan will fund projects agreed on by the two governments in the future.Hui and Jugnauth also agreed on boosting cooperation in science and culture and implementing the programs of the accord signed by the two sides.Visiting Chinese Vice Premier Hui Liangyu (Central L) meets with Mauritius Vice Prime Minister and Minister of Finance and Economic Development Pravind Kumar Jugnauth (Central R) in Port Louis, Mauritius, Jan. 7, 2011.Hui also met Mauritius Prime Minister Navinchandra Ramgoolam in the capital of Port Louis on Friday when he started a three-day official visit to Mauritius.During the meeting, Hui commended the bilateral cooperation since the two countries established diplomatic ties in 1972 and the promising trend to further strengthen the ties in cultural exchange, education and tourism.He thanked the Mauritius government for its support on issues concerning the core interests of China.Hui noted that the two countries should keep pushing for extensive cooperation and high level exchange of visits, continue to building political trust between the two governments and implement the measures in the framework of China-Africa Cooperation Forum.Ramgoolam also spoke highly of the fruitful cooperation between the two countries and thanked China for the assistance in improving the country's infrastructure including a new international airport which is under construction.Hui held talks with Mauritius opposition leader Paul Berenger on Saturday afternoon before he wraps up his visit to Mauritius, the first leg of his five-African country tour which will also take him to Zambia, the Democratic Republic of Congo, Cameroon and Senegal.

BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

CHANGSHA, Nov. 28 (Xinhua) -- Central China's Hunan Province began building the country's third National Supercomputing Center (NSCC) on Sunday, where the world's fastest supercomputer, the Tianhe-1A, will be installed. Designed to handle one quadrillion computing operations per second, the NSCC in Changsha will add to the world's eight quadrillion-level supercomputing centers and national labs, said Du Zhanyuan, vice minister of the Ministry of Science and Technology.The new NSCC will be housed in Hunan University in Changsha, capital of Hunan, and the construction is expected to be completed by the end of 2011, said Du.Photo taken on Nov. 28, 2010 shows the effect displaying design of National Supercomputing Center located in Changsha, central China's Hunan Province. Hunan began building China's third National Supercomputing Center on Sunday, where the world's fastest supercomputer, the Tianhe-1A, will be installed. Designed to handle one quadrillion computing operations per second, the NSCC in Changsha will add to the world's eight quadrillion-level supercomputing centers and national labs. The new NSCC will be housed in Hunan University in Changsha, and the construction is expected to be completed by the end of 2011. Earlier this month, the Tianhe-1A at the NSCC in Tianjin, which is capable of 2.57 quadrillion computing operations per second, was certified as the world's fastest supercomputer.Once completed, the Tianhe-1A at the NSCC in Changsha will be able to provide supercomputing services to the weather forecast, scientific research, biological pharmaceuticals, animation design and other complex work in central China, said Xu Shousheng, provincial governor of Hunan."The setting up of the NSCC in Changsha will raise the innovative level of Hunan Province and of central China," said Xu.Apart from the ongoing-construction, China has built two supercomputing centers which are located in Tianjin and Shenzhen, respectively.

WASHINGTON, Jan. 14 (Xinhua) -- U.S. Secretary of State Hillary Clinton on Friday rejected a zero-sum formula on U.S.-China relationship, saying that the two countries have much more to gain from cooperation than from conflict.Delivering a speech on the future relations between the U.S. and China at the State Department, Clinton said it does not make sense to apply zero-sum 19th-century theories of how major powers interact in the 21st century."We reject those views," she said, referring to views which depict China's growth as a "threat" or U.S. policy on China as " containment."The State Department described the speech, delivered to inaugurate an annual forum dedicated to veteran U.S. diplomat Richard Holbrooke, as setting stage for a state visit by Chinese President Hu Jintao next week.Clinton said that the world is moving through uncharted territory and needs new ways of understanding the shifting dynamics of the international landscape, a landscape marked by emerging centers of influence, but also by nontraditional, even non-state actors and the unprecedented challenges and opportunities created by globalization.This is a fact that is especially applicable to the U.S.-China relationship, she said, noting that the engagement between the two countries can only be understood in the context of this new and more complicated landscape."We are in the same boat. And we will either row in the same direction or we will, unfortunately, cause turmoil and whirlpools that will impact not just our two countries, but many people far beyond either of our borders," she said.The secretary said although the United States and China are two complex nations with very different histories, with profoundly different political systems and outlooks, there is a lot about the two peoples that reminds them of each other: an energy, an entrepreneurial dynamism, a commitment to a better future for one' s children and grandchildren."We are both deeply invested in the current order, and we both have much more to gain from cooperation than from conflict," she said. "That doesn't mean we will not be competitors ... But there are ways of doing it that are more likely to benefit than not.""A peaceful and prosperous Asia-Pacific region is in the interest of both China and the United States. A thriving America is good for China and a thriving China is good for America," the secretary said."So all of this calls for careful, steady, dynamic stewardship of this critical relationship," she said."The choices both sides make in the months and years ahead and the policies we pursue will help determine whether our relationship lives up to its promise, and it is up to both of us to translate high-level pledges of summit and state visits into action, real action on real issues," Clinton said.

来源：资阳报