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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. 21 (Xinhua) -- A Senior Chinese official on Friday called for fresh efforts to furnish occupational security for police and take good care of their relatives.     Zhou Yongkang, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks when meeting with representatives of the relatives of police officers who died on duty.     More than 10,000 police officers died on duty with honor in the past 60years, and more than 150,000 more had been injured when protecting the country's social stability, Zhou said.     He urged Party, government and police departments at all levels to take into account of the occupational hazards of the police and take measures to provide better treatment for them.     The livelihood of the relatives of police officers, especially those who died on duty, must also be secured, Zhou said.     He urged the police to live up to the people's expectations and make new contributions to the Party and the people.

BEIJING, Oct. 1 (Xinhua) -- A grand military parade will be held at the heart of Beijing Thursday morning to celebrate the 60th anniversary of the founding of the People's Republic of China, underscoring the country's self-defensive policy.     "As an important force safeguarding world peace and development, the People's Liberation Army (PLA) will continue pursuing a national defense policy that is defensive in nature and pose no threat to other countries," said Lieutenant General Fang Fenghui, commander-in-chief of the parade and commander of PLA Beijing Military Area Command in an interview with Xinhua.     "We will stick to our country's policy to safeguard world peace and promote common development," Fang said.     China adheres to a long-standing defensive policy of "no first use of nuclear weapons" from the very beginning it developed its nuclear ammunition, Fang said.     Addressing the United Nations Security Council nuclear summit in New York on Sept. 24, 2009, Chinese President Hu Jintao proposed that all nuclear weapon states abandon the nuclear deterrence policy based on first use of nuclear weapons and take credible steps to reduce the threat of nuclear weapons.     "To realize a safer world for all, we must first and foremost remove the threat of nuclear war," Hu said. "All nuclear-weapon states should make an unequivocal commitment of unconditionally not using or threatening to use nuclear weapons against non-nuclear-weapon states or nuclear-weapon-free zones, and conclude a legally-binding international instrument in this regard."     According to the White Paper "China's National Defense in 2008"released on Jan. 20 this year, China noted that its nuclear missiles of the Second Artillery Force "are not aimed at any country in peacetime."     China has been reporting on its national defense policy in a white paper every two years since 1998, introducing its national defense policy, the structure and development of the forces, the budgets and use of defense expenditure.     Chinese leaders have made repeated commitments to world peace and development since the nation's founding in 1949.     "For now and in the future, China would never seek hegemony, nor would we turn to military expansion or arms race with other countries," Chinese President Hu Jintao told heads of 29 foreign navy delegations attending the PLA Navy celebration in Qingdao on April 23, 2009.     "China will unswervingly stick to the road of peaceful development, which demands China to adhere to the defensive national defense policy," Hu said.     During the process of reform and opening up, the Chinese army takes it as the fundamental purpose to safeguard world peace, development and stability, as well as national sovereignty, security and development.     Wang Xinjun, a research fellow of warring theory and strategy at the PLA Military Science Academy, said defensive armaments were the majority of the PLA ammunitions as offensive weapons account for a very small proportion of its depot.     "This is the most distinctive aspect that makes PLA different from the troops in other countries," Wang said. "The core of Chinese military strategy lies in defensiveness rather than offensiveness."     Preparing to disclose many of its latest national defense strength in the parade, China holds on to its goal of a peaceful development.     "What poses threat to another country is not one country's military strength, but the policy it follows," said Major General Gao Jianguo, spokesman for the joint headquarters for the parade in Beijing.     "China unswervingly persists in taking a road of peaceful development, striving for a harmonious world that highlights global peace and common prosperity," Gao said. "Our military ties with foreign countries are based on equality, mutual trust and cooperation."     Through non-alignment, non-confrontation and non-targeting at any third party, China has established military ties with more than 150 countries and set up military attaché offices in 109 countries. Meanwhile, 101 countries have set up military attaché offices in China.     Among the permanent members of the United Nations Security Council, China currently sends the most peacekeepers. More than 13,000 Chinese peacekeepers have carried out 18 UN peacekeeping operations since China's first dispatch of military observers to such operations in 1990.     Since the end of last year, the Chinese navy has carried out escort missions in the waters of the Gulf of Aden off Somali and has escorted more than 800 ships.

BEIJING, Aug. 9 (Xinhua) -- Senior Chinese leaders on Sunday attended a concert of a renowned Chinese singer to commemorate the 70th anniversary of her participation into the country's revolutionary artistic cause.     Jia Qinglin, Li Changchun and He Guoqiang, all members of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, attended the concert performed by Wang Kun and her students.     Chinese Premier Wen Jiabao sent a congratulatory letter to the show, which was jointly organized by the Ministry of Culture and the China Federation of Literary and Art Circles.     Wang Kun, born in 1925, was the protagonist in the opera of the White-Haired Girl, a household legend describing the sufferings by local farmers under the exploitation of landlords before 1949.

ISTANBUL, Oct. 4 (Xinhua) -- China on Sunday demanded an increase of the quota share of the emerging markets and developing countries in the International Monetary Fund (IMF) and urged the organization to accelerate its structural reform. Chinese Deputy Governor of the Central Bank Yi Gang made the remarks at the 20th meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund in Istanbul.     The one-day meeting was attended by representatives from 186 member countries and international financial institutions, the World Bank, the World Trade Organization and other organizations.     The Chinese deputy governor criticized major international financial institution for failing to give a timely early warning report of the current global financial crisis, noting that the failure is closely related to deviation of the surveillance direction and its focus.     The long-time underestimation of the quota share of the emerging markets and developing countries and their insufficient representation in the IMF are major causes for irrational governing structure, unfair surveillance and untimely early warning system, he said. Attendees take part in the International Monetary and Financial Committee (IMFC) meeting at the Istanbul Congress Center October 4, 2009. The IMFC has 24 members who advise and report to the IMF Board of Governors. Finance ministers and central bankers from around the globe are in Istanbul for the semiannual meetings of the International Monetary Fund and World Bank, which run from Oct. 4-7.    He said China supports an increase of IMF structural resources in various ways.     But he stressed that the quota share is the main resource of the IMF organization, urging the IMF to establish quota share automatic readjusting mechanism in a bid to reflect changes of economic positions of different countries.     China supports the IMF to undergo wide-ranging administrative structural reform, including the strengthening of responsibilities of the executive board of directors, effective supervision of the administration, reform of chairman election system and increasing the proportion of administrative and working staff of emerging markets and developing countries, he added.     Yi stressed that the IMF should strengthen supervision and surveillance over various major financial markets, synthetically think about various policies of member countries, and not to assess single policy in a simple and mechanical way.     He said China welcomes the progress made by the IMF in enhancing early warning capability, the whole package reform in financing mechanism to offer loan to low-income countries and preferential financing measures.     Istanbul is to host the annual meetings of the IMF and World Bank on Oct. 6-7.

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