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WASHINGTON, Feb. 27 (Xinhua) -- China remains the largest foreign holder of U.S. Treasury securities as at the end of December, the U.S. media reported on Saturday.The report quoted the new government data as saying that China held 894.8 billion dollars in Treasury securities at the end of December, more than 755 billion dollars that had been previously estimated.But the new report also showed China trimmed its holdings of U. S. debt by 34.2 billion U.S. dollars in December.The U.S. Treasury reported on Feb. 16 that Japan surpassed China as the largest holder of U.S. Treasury securities in December. But the new estimate said Japan, now back in second place, held 765.7 billion dollars in December.Japan had been the largest holder of U.S. Treasury securities until China gained that distinction in 2008."Purchase of Treasuries by China would reflect only purchases by an entity in China from an entity based in the U.S.," Stone & McCarthy Research Associates said in a recent client note."The Data would not pick up purchases done on behalf of Chinese investors by dealers in the U.K or Hong Kong, for example, nor would it pick up purchases of Treasuries by investors in China from investors based outside of the U.S.," it added.China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar .Last week, when responding to questions on China's sale of U.S. Treasury securities in December, China's Foreign Ministry spokesman Qin Gang said the issue should be viewed from two perspectives.He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the U.S. dollar, Qin said.The way to view the issue was similar to doing business, he said.

ZURICH, Switzerland, Jan. 25 (Xinhua) -- Chinese Vice Premier Li Keqiang arrived here on Monday, kicking off his formal visit to Switzerland. He will also attend this year's World Economic Forum (WEF) annual meeting in Davos.During the past 60 years, Li said in a written statement upon arrival, the bilateral relations between China and Switzerland have enjoyed tremendous progress, with frequent top-level official exchanges, fruitful cooperation in trade and economy, deepened exchanges in various fields and smooth communication and coordination in dealing with international and regional issues.Chinese Vice Premier Li Keqiang delivers a speech during a dinner party held by the Economiesuisse, the Swiss Business Federation, at Zurich, Switzerland on Jan. 25, 2010. Li Keqiang arrived here on Monday for a four-day official visit to Switzerland, during which he will also attend this year's World Economic Forum (WEF) annual meeting in DavosSwitzerland recognized the People's Republic of China in 1950, becoming one of the earliest countries in western Europe to do so and to establish diplomatic ties with the new China, Li noted.The development of bilateral ties enjoys great potential and has a broad prospect, he added.Chinese Vice Premier Li Keqiang (L) shakes hands with Gerold Buehrer, president of Economiesuisse during a dinner party held by the Economiesuisse, the Swiss Business Federation, at Zurich on Jan. 25, 2010. Li Keqiang arrived here on Monday for a four-day official visit to Switzerland, during which he will also attend this year's World Economic Forum (WEF) annual meeting in DavosDuring the visit, Li is scheduled to hold talks with Swiss President Doris Leuthard and WEF President Klaus Shwab, and will have a dialogue with leading figures in the business circle.The Chinese vice premier believed that his visit will help further mutual political trust, enhance the traditional friendship, elevate bilateral trade and economic cooperation to a higher level, and continue to push the ties forward.Prior to the trip, Chinese Vice Foreign Minister He Yafei briefed the media that Li will exchange opinions with the Swiss authorities on bilateral relations, sum up the successful experiences of the development of bilateral ties for the past 60 years and discuss new ways on furthering the ties in order to inject new impetus into bilateral cooperation in various fields.In his planned address at the WEF annual meeting, Li will mainly brief participants about China's domestic economic situation, the Chinese government's policy, the achievement made through China's efforts to deal with the economy and society.Li will also elaborate China's stand on some global issues such as global governance and the world's joint response to climate change, and call for an all-round, sustained and balanced growth of the world's economy. Chinese Vice Premier Li Keqiang (L) and Gerold Buehrer, president of Economiesuisse step into the room during a dinner party held by the Economiesuisse, the Swiss Business Federation, at Zurich on Jan. 25, 2010. Li Keqiang arrived here on Monday for a four-day official visit to Switzerland, during which he will also attend this year's World Economic Forum (WEF) annual meeting in Davos

KAMPALA, Jan. 25 (Xinhua) -- Ugandan President Yoweri Museveni on Monday met officials of the China National Offshore Oil Corporation (CNOOC) amidst increased lobbying by international oil giants to enter the country's oil sector.A State House statement issued here said that the CNOOC officials who met Museveni at State House Entebbe, 40km south of the capital Kampala, expressed interest in joining Uganda's oil and gas sector by partnering up with Tullow, an Irish oil company.Tullow, which has oil blocks in western Uganda, is seeking a partner to help it start oil production in the country.The CNOOC meeting comes weeks after Italian oil giant, Eni Spa, also expressed interest in joining the country's oil sector, promising an oil refinery and a power plant.Eni wants to enter the sector by buying stakes of another oil company Heritage Oil which jointly operates two blocks with Tullow on a 50-50 percent venture.The Eni-Heritage deal which is yet to be concluded is embroiled in controversy as Tullow exercised a pre-emption move saying it has the first option to buy the Heritage stakes, a move the government said it would not accept because it would create a monopoly.Museveni told the CNOOC officials joined by Tullow officials that the government will discuss all proposals and announce its decision soon."President Museveni said that the government will discuss all proposals by companies operating in the oil and gas sector adding that the country looks forward to welcoming new companies," the statement said.The Museveni-CNOOC-Tullow meet also comes days after Aiden Heavey, Tullow's chief executive met Museveni urging Uganda to honor contractual obligations following the Eni-Heritage deal.Uganda's recently discovered oil is attracting a lot of attention from international oil giants.So far the country has discovered an estimated two billion barrels of oil and according to experts there is a possibility of discovering more.

BEIJING, March 1 (Xinhua) -- Chinese government has decided to offer emergency humanitarian aid of 1 millon U.S. dollars to Chile to help relief work in areas hit by Saturday's earthquake, Yao Jian, spokesman of the Ministry of Commerce said Monday.China was preparing for disaster relief work and would continue to provide humanitarian aid to Chile according to need, said Yao.A massive 8.8-magnitude quake rocked Chile early Saturday, leaving at least 708 people dead and hundreds missing.

HONG KONG, Feb. 15 (Xinhua) -- Over 20,000 people gathered on both sides of Hong Kong's Victoria Harbor to watch a 23-minute firework show Monday evening, as the city is unwrapping various festive activities to celebrate the year of the Tiger.The show began at 8 pm local time (1200 GMT) despite heavy fog and light showers.Spectators cheered and shouted as the Arabic number "eight" appeared in the sky, followed by patterns resembling fish. Fireworks designers explained that the number eight shares the same pronunciation with the word "Fa" which means striking gold while the word "fish" sounds the same with "surplus" in Cantonese.For Hong Kong residents who tend to believe that lucky signs and lucky-sounding words do actually bring in luck, they are delighted at the show, which also include patters similar to the shape of the Chinese traditional gold ingot and red Chinese character "Ji" which means auspiciousness.The Lunar New Year firework show has become an annual event since it lit up the sky above the Victoria Harbor for the first time during the Lunar New Year in 1982.Sponsors of the event said this year's extravaganza costs more that 3 million HK dollars (about 400,000 U.S. dollars ), but they insist the expenditure worthwhile as it brings laughter and joy to Hong Kong citizens at the begining of a new year.