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BEIJING, July 24 (Xinhua) -- Chinese President Hu Jintao Friday called for the whole nation to further promote the development of national defense with the help of the nation's economic development.     Hu, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), made the remarks during a meeting held by CPC Central Committee Political Bureau ahead of the 82nd founding anniversary of the Chinese People's Liberation Army (PLA) on Aug. 1.     Hu said "the country should take both economic and national defense development into consideration and develop the armed forces featuring an integration of the military and the people."     To realize the goal, efforts are needed in establishing sound weapon systems and equipment research and manufacturing, military personnel training and logistics that combine military construction with people's support, he said.     Emphasis should be made in scientific exchanges between fields of national defense and civilian use.     He further stressed it is the responsibility of both the Party and entire nation to build a powerful and solid armed force and national defense power.

HONG KONG, Sept. 28 (Xinhua) -- The launch of Renminbi sovereign bonds in Hong Kong on Monday shows China's efforts to boost the international use of the yuan step by step, officials and analysts said.     The bond issue, worth only 6 billion yuan (878.5 million U.S. dollars), marked a key milestone in the internationalization of the RMB.     Hong Kong was chosen for, and will benefit from, the milestone bond sale thanks to its unique position as the international financial center providing desired cushion against the potential risks when the program was launched, analysts said.          BOOSTING INTERNATIONAL USE OF RMB     The bond issue in Hong Kong came earlier than expected, said Hu Yifan, an economist with CITIC Securities.     "The need for the RMB to go international and convertible has been growing along with the increasing importance and openness of the Chinese mainland economy and the risks arising from over- reliance on the United States dollar as the reserve currency," said Tse Kwok-leung, head of economic research of Bank of China ( Hong Kong) Limited.     China has been launching pilot RMB programs over the years, but the pace has obviously quickened since the onset of the global financial crisis. Pilot RMB programs launched in Hong Kong over the past 12 months also included yuan-denominated cross-border trade settlement and trade financing, yuan bonds issued by policy banks, commercial lenders and the branches of foreign banks, and currency swaps.     The sovereign bond issue would help "boost the international use of the RMB in a steady and orderly manner," the Chinese Ministry of Finance quoted Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Henry Tang as saying.     The sovereign bond sale in Hong Kong serves the purpose of water testing to "see how it is received by international investors." Hong Kong has a unique strength in that it provides the desired cushion against potential risks when the pilot programs were launched, given that the mainland capital market was yet to open up, Tse said.          BOOSTING NASCENT BOND MARKET IN HONG KONG     The bond issue ahead of the Chinese National Day showed the central government's support for Hong Kong, Vice Minister of Finance Li Yong said.     It will help Hong Kong build on its strength as an international financial center by boosting the nascent bond market in Hong Kong, Tse Kwok-leung said.     "It calls for a banking system, a stock market and a bond market, all developed, to make a developed international financial center," Tse explained.     Hong Kong has been aspiring to be the leading international financial center in the Asian time zone.     Government statistics showed that the total assets of Hong Kong's banking system and the size of its stock market were both about six times its gross domestic product, compared with a bond market equivalent to 43 percent of its gross domestic product.     Bonds issued in Hong Kong in 2008 totaled 424.4 billion HK dollars (54.4 billion U.S. dollars), with 67 percent issued by the Hong Kong Foreign Exchange Fund, which was established to defend the Hong Kong dollar peg to the U.S. dollar.     The other 33 percent were accounted for by development banks from outside Hong Kong and corporate bonds issued by local players. There were no sovereign bonds.     Tse said the bond issue will also help improve the liquidity of, and diversify, the local bond market. It will also improve the operation of the RMB bond market in Hong Kong by helping find the benchmark interest rate in the local market.     Tse said the demand for sovereign bonds issued by an economy as strong as the Chinese mainland was huge, given the impact of the global financial crisis on the corporate bond market.     Vice Minister of Finance Li Yong also said he believed the bonds will be well received.     "I believe the RMB sovereign bonds will prove popular with investors looking for safe and prudent investments. I definitely think it will be successful," Li said.

BUCHAREST, Oct. 18 (Xinhua) -- Chinese Vice President Xi Jinping arrived here on Sunday to start his official visit to Romania after he concluded a visit to Hungary.     In a written statement upon his arrival at the airport, Xi said China and Romania have enjoyed long-term friendship, and they have enhanced political trust, cooperation in various areas, and coordination in dealing with international affairs since they forged diplomatic ties six decades ago.     Noting that the Chinese government values relations with Romania, Xi said his visit was to cement traditional friendship and reciprocal cooperation by taking the chance of 60th anniversary of bilateral ties. Chinese Vice President Xi Jinping (1st R) arrives in Bucharest for an official visit to Romania on Oct. 18, 2009    "I expect to exchange views with the Hungarian leaders on bilateral relations and international and regional issues of common concern," he said.     He also voiced his belief that the visit would promote traditional friendship and push forward the comprehensive, friendly and cooperative partnership with Romania.     Romania is the last leg of Xi's five-nation European tour. He already visited Belgium, Germany, Bulgaria and Hungary. 

BEIJING, Sept. 28 (Xinhua) -- China and the Democratic People's Republic of Korea (DPRK) held a reception in Beijing Monday to celebrate the 60th anniversary of the establishment of diplomatic ties. Addressing the event, Chen Haosu, president of the Chinese People's Association for Friendship with Foreign Countries (CPAFFC), a major non-governmental organization, said, "The friendship between the two countries had endured the test of time and changes in the world." A reception is held to celebrate the 60th anniversary of the establishment of diplomatic relations between China and the Democratic People's Republic of Korea (DPRK), in Beijing, capital of China, Sept. 28, 2009    The traditional friendship built and nurtured by leaders of former generations of both countries had been consolidated and pushed forward over the 60 years, he said.     This year also marks the Year of China-DPRK Friendship, a year-long exchange program, which injected new vitality to the friendship, he said. Li Jinhua, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, and Chen Haosu (C), president of the Chinese People's Association for Friendship with Foreign Countries, toast with guests at the reception to celebrate the 60th anniversary of the establishment of diplomatic relations between China and the Democratic People's Republic of Korea (DPRK), in Beijing, capital of China, Sept. 28, 2009DPRK ambassador to China Choe Jin Su said it was a consistent policy of the government of the DPRK to consolidate and develop friendship with China.     "We will take the 60th anniversary and the Year of DPRK-China Friendship as a new starting point, and are ready to make concerted efforts with China to expand friendly cooperative ties," he said.     About a hundred delegates from various circles of the two countries, including Li Jinhua, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, attended the reception.

BEIJING, Sept. 27 (Xinhua) -- China will welcome more foreign experts to participate in the country's economic and social development, said Vice Premier Li Keqiang on Sunday.     "The development and achievements China made in the past 60 years have been the result of the united efforts of the Chinese people of all ethnic groups, together with the hard work and dedication of numerous foreign experts," said Li. Chinese Vice Premier Li Keqiang (4th R) attends a reception for the foreign experts working in China on the eve of the 60th anniversary of the founding of the People's Republic of China, at the Great Hall of the People in Beijing, capital of China, Sept. 27. Li made the remarks while addressing a reception on the eve of the 60th anniversary of the founding of the People's Republic of China.     Some 1,800 foreign experts and Chinese officials attended the reception.     The number of overseas experts working in China continued to rise, reaching 480,000 tours of duty in 2008, he said.     "They provide strong expert support for the economic and social development of China," said Li. Chinese Vice Premier Li Keqiang speaks during a reception for the foreign experts working in China on the eve of the 60th anniversary of the founding of the People's Republic of China, at the Great Hall of the People in Beijing, capital of China, Sept. 27. (Xinhua/Liu Weibing China set up the Friendship Award in 1991, the country's highest award for foreign experts, to award those who have made outstanding contributions to China's economic and social progress.     "The Chinese government will further deepen the reform and opening up......widely attract and gather international personnel, and conduct international exchanges and cooperation in an ever-broader scope, in a wider range of fields and at higher levels than before," said Li. Chinese Vice Premier Li Keqiang (L, front) toasts with Chinese-American physical scientist and Nobel Prize winner Yang Zhenning (R, front) during a reception for the foreign experts working in China on the eve of the 60th anniversary of the founding of the People's Republic of China, at the Great Hall of the People in Beijing, capital of China, Sept. 27With regard to China's economic development, Li said China's stimulus measures adopted to deal with the global financial crisis was producing results, however, the foundation for the recovery of the Chinese economy was not solid yet.     China would maintain the continuity and stability of its macro-economic policy, deepen economic restructuring, expand domestic demand and promote renovation and transformation of economic development mode, so as to push for the long-term steady and fast economic growth and overall social progress, Li said. Chinese Vice Premier Li Keqiang (2nd L, front) attends a reception for the foreign experts working in China on the eve of the 60th anniversary of the founding of the People's Republic of China, at the Great Hall of the People in Beijing, capital of China, Sept. 27.

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