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WASHINGTON, July 28 (Xinhua) -- Holding an umber basketball in his hand, Chinese Vice Premier Wang Qishan became the center of attention at the end of the first round of the China-U.S. Strategic and Economic Dialogue on Tuesday. The basketball, with Barack Obama's autograph, is a gift from the U.S. president to Chinese Vice Premier Wang Qishan who is the co-host of the "Economic Track" of the dialogue. The basketball is considered a symbol of the U.S. government's hospitality and gratitude to Chinese officials for their efforts in making this dialogue a success. U.S. President Barack Obama (R) presents a basketball to Chinese Vice Premier Wang Qishan (C), special representative of Chinese President Hu Jintao, as Chinese State Councilor Dai Bingguo (L) stands by in the Oval Office of the White House in Washington, on July 28, 2009. Obama met with Chinese Vice Premier Wang Qishan and State Councilor Dai Bingguo, special representatives of Hu, here on Tuesday. Wang Qishan and Dai Bingguo were in Washington to participate the two-day US-China Strategic and Economic Dialogue concluded here on July 28. During his closing address, Chinese State Councilor Dai Bingguo, co-host of the "Strategic Track," introduced the basketball to reporters, as he hailed the "in-depth, broad, candid, and productive" discussions between the two sides and expressed the Chinese delegation's appreciation of what the American government has done to arrange the dialogue. He also said that the Chinese side will work together with the U.S. side to make good preparations to ensure that President Obama's first visit to China later this year will be a success. Chinese Vice Premier Wang Qishan (L), special representative of Chinese President Hu Jintao, holds a basketball presented by the U.S. President Barack Obama as a gift in the Oval Office of the White House in Washington, on July 28, 2009. It was not the first time that basketball took the central stage during the two-day meeting. During his speech at the opening session on Monday, Obama, who is a well-known basketball fan, reached out to his Chinese guests by quoting Chinese NBA star Yao Ming. "As a new president and also as a basketball fan, I have learned from the words of Yao Ming, who said, No matter whether you are new or an old team member, you need time to adjust to one another," said the president. "Well, through the constructive meetings that we've already had, and through this dialogue, I'm confident that we will meet Yao's standard," he said.
BEIJING, Aug. 5 (Xinhua) -- China vowed to deepen its financial system reform and promote more efficient financial intermediation in support of domestic demand, according to a fact sheet released here on Wednesday. To meet the commitment, China would promote interest rate liberalization and consumer finance, said the economic track joint fact sheet of the first U.S.-China Strategic and Economic Dialogue (S&ED). It said China would accelerate the allocation of QFII quotas to billion and continue to allow foreign-invested banks incorporated in China that meet relevant prudential requirements to enjoy the same rights as domestic banks with regard to underwriting bonds in the inter-bank market. China would gradually increase the number of qualified joint-venture securities companies that can participate in A-share brokerage, proprietary trading and investment advisory services subject to the condition of meeting relevant laws and regulations. The country would also support qualified overseas companies to list on Chinese stock exchanges through issuing shares or depository receipts and continuously support qualified Chinese companies to be listed abroad, including in the United States, said the fact sheet. From the U.S. side, the country would pursue comprehensive reform of financial regulation and supervision to create a more stable financial system and to help prevent and contain potential future crises. Regulation and supervision would be strengthened to ensure that all financial firms that pose a significant risk to the financial system will be well regulated, major financial markets will be strong enough to withstand system-wide stress and the failure of large institutions, and the government has the tools it needs to respond rapidly and effectively when problems arise, the fact sheet said. The United States pledged to continue to have strong oversight of the Government Sponsored Enterprises (GSEs). Through Congressional action, the country remained committed to ensuring that the GSEs were able to meet their financial obligations, it said. The country was committed to undertaking a process of exploring the future of the GSEs, including through seeking public input, and the U.S. government resolved to report to Congress and the public by S&ED II. In the joint fact sheet, China and the United States pledged continued close communication and coordination to promote financial stability and would work together to expedite the financial sector reform, to improve financial regulation and supervision, and to promote greater financial market transparency, so as to make their financial sectors more robust. "We recognize the importance of ensuring sound regulation in our own countries and globally," said the fact sheet. The two countries were undertaking IMF Financial System Assessment Programs (FSAPs) and would complete them in a timely manner,it said. Both countries would continue to promote convergence towards a single set of high quality global accounting standards and would continue discussions on financial reporting matters. "The United States and China welcome continued dialogue between the bilateral competent authorities on the oversight of accounting firms providing audit services for public companies in the two countries based on mutual respect for sovereignty and laws," it said. The two countries would also conduct technical exchanges on the development of private pensions, and would share experiences and strengthen cooperation with regard to improvement of insurance regulation. The first S&ED was held in Washington, D.C from July 27 to 28. The mechanism was jointly launched by Chinese President Hu Jintao and US President Obama during their meeting in April in London as a way to show elevation of the importance of China-U.S. cooperation under the new historical circumstances.

BEIJING, Aug. 2 (Xinhua) -- China on Sunday issued a regulation for the country's disabled military personnel to ensure them a guaranteed living after retired from the military. Jointly promulgated by military authorities and Ministries of Finance and Civil Affairs, the regulation pledges that military personnel who gets disabled because of war, work or illness will be rearranged to other working positions by the government after retirement. The retired disabled veterans will also be provided with a certain amount of compensation fee according to their different levels of disabilities. Other welfare include medical care subsidy and a basic housing allowance of at least 100,000 yuan (14.706 U.S. dollars) to each disabled veterans, the regulation said. Non-commissioned officers at junior grades who are diagnosed as mental illnesses and enlisted soldiers who are diagnosed as disabilities from level I to level IV will be sustained by the government for the rest of their lives, it said. The regulation is the first of its kind in China.
BEIJING, Aug. 19 (Xinhua) -- Chinese top legislator Wu Bangguo met with a U.S. congress delegation led by Howard L. Berman, chairman of the House Foreign Affairs Committee, here on Wednesday. Wu, chairman of the Standing Committee of the National People's Congress (NPC), China's top legislature, spoke positively of the recent growth of the bilateral relations. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, shakes hands with U.S. House of Representatives Foreign Affairs Committee Chairman Howard Berman in Beijing, China, Aug. 19, 2009. He called on the NPC and U.S. congress to foster bilateral cooperation to a higher level with mutual trust, stressing the efforts will not only serve the fundamental interests of the two nations and two peoples, but also help maintain peace, stability and development in the world. China is ready to work with the United States, increase dialogues and exchanges, respect each other's concern and core interests to push ahead with the Sino-U.S. relations along the track of positive cooperation, Wu said. Berman said he was delighted to witness the growth momentum of bilateral ties, noting that the two nations and the two legislative bodies should work closer to intensify high level exchange. Berman also met with Chinese Vice Premier Wang Qishan earlier Wednesday. They exchanged views on the global economic downturn, and pledged to work together to help the world economy recovery at an early date.
URUMQI, Aug. 12 (Xinhua) -- The 9th China Xinjiang International Agricultural Fair opened in the northwestern city of Urumqi Wednesday, attracting 110,000 business people from around the world. Representatives with 987 companies from 15 countries and regions have arrived to attend the three-day event, which features exhibitions of fertilizers, pesticides and seeds, the organizers said in a press release. It would be the largest fair compared with the previous eight sessions in terms of its visitors and scope, the organizers said. "The fair is held against the backdrop of global financial crisis and the July 5 riot," the press release said. "The organizers will arrange activities to promote Xinjiang's agricultural products that have not been selling well due to the aftermath of the riot." The riot in Urumqi, capital of Xinjiang Uygur Autonomous Region, has left 197 people dead, mostly innocent civilians, and more than 1,600 others injured. But business people still hope to cash in on the vast market opportunities of Xinjiang, which takes up a sixth of Chinese territory, as Urumqi is gradually recovering from the violence. "Our company entered the Xinjiang market in 2005 selling fertilizers and has won a wide recognition of local farmers," said Gu Rongbao, manager of the Jinlaifu Chemicals Import and Export Co. Ltd. from eastern Shandong Province. "We have confidence in the future development in Xinjiang." The annual fair is jointly organized by the regional government's departments of agriculture, animal husbandry among others.
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