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BRUSSELS, April 28 (Xinhua) -- Senior officials and scholars from the European Union (EU) and China held a conference here, urging the two sides to enhance cooperation dedicated to seeking a global solution to the financial crisis.     "After the financial crisis hit us, we stood closer, supported each other and worked together for an early recovery of our economy and that of the world. We become tightly bound more than ever before," Chinese ambassador to the EU Song Zhe said in a keynote speech at the conference in the European Parliament on Monday.     "We have every reason to cooperate," Song said, adding China and the EU have converging interest and share common responsibility.     Sino-EU relations has experienced slight derailing last year, as China postponed a summit with the EU due to French President Nicolas Sarkozy's decision to meet the ** Lama when France held the EU presidency. Relations appeared back on track in the face of the global financial crisis.     Early this year, Chinese Premier Wen Jiabao visited Europe on a Journey of Confidence. Later during the G20 summit in London early this month, President Hu Jintao met a number of European leaders to consolidate mutual trust.     In an effort to build a joint front against the financial and economic crisis, a trade and investment delegation from China last month struck multi-billion-U.S.-dollar deals with European companies to boost trade.     Chinese Vice Premier Wang Qishan is scheduled to visit Brussels next week for high-level economic dialogues with EU counterparts.     The 11th China-EU Summit will be held in Prague in mid-May, as the Czech Republic is holding the current EU presidency.     The EU is the biggest organization of developed countries and China is the biggest developing country, Song said, adding bilateral relationship takes on greater global and strategic importance.     Antonie Quero-Mussot, deputy head of cabinet of EU Commissioner for economic and monetary affairs, noted that cooperation between the EU, China and beyond is a necessary condition for a solution to the global financial crisis.     "Without the dialogue not only between the EU and China, but also between all the major economies... there will not be a solution to the crisis," he said.     His remark was echoed by Mei Zhaorong, former president of Chinese People's Institute of Foreign Affairs.     "We can not solve the problem alone but have to work together," Mei said at the conference.     He also downplayed the possibility of a G2 framework, under which the United States and China are expected to have a joint central role of leading the world out of the crisis.     "We are not of the opinion that we alone with the U.S. can solve the problem," Mei said, "I do not think Europe like that opinion either."     "I think the current form of G20 are far better. We should look at developing countries and emerging economies," he added.

BEIJING, April 22 (Xinhua) -- China and Pakistan Wednesday praised the ties between their parliaments and both agreed to raise inter-parliamentary cooperation to a higher level.     In his meeting with visiting Speaker of Pakistan's National Assembly Fahmida Mirza, Chinese top legislator Wu Bangguo noted that China always conducted its ties with Pakistan taking a strategic, long-term perspective and was committed to pushing forward bilateral relations.     Wu, chairman of the Standing Committee of the National People's Congress (NPC), the top legislature, highlighted the growth of bilateral relations and expressed appreciation for Pakistan's support for China on issues relating to Taiwan and Tibet. Wu Bangguo (R), chairman of the Standing Committee of the National People's Congress, China's top legislature, meets with Speaker of Pakistan's National Assembly Fahmida Mirza, in Beijing, capital of China, April 22, 2009    China will firmly back Pakistan's efforts for national stability and development, Wu added.     Wu said the NPC and Pakistan's National Assembly had forged friendly legislative ties.     "I hope to see the two parliaments continue to cement cooperation at various levels and through various channels in a bid to expand mutual understanding and friendship between the two peoples," Wu said.     Mirza said relations with China were always at the top of the agenda in Pakistan's foreign policies.     Pakistan hoped to expand cooperation with China in fields such as transportation, energy and free trade, Mirza said. She also urged both countries to develop exchanges among female members of their legislatures.     She also reiterated firm support for China's principle and position on issues relating to Taiwan and Tibet.     Mirza's visit to China from April 21 to 27, her first, was made at the invitation of Wu. She will also visit the western city of Xi'an and the economic powerhouse of Shanghai.

BEIJING, May 6 (Xinhua) -- China's central bank said Wednesday the economy is doing "better than expected" in the first quarter, and pledged to maintain "ample" liquidity in the financial system for economic recovery.     China would stick to its moderately easy monetary policy and ensure "ample" liquidity at banks, the People's Bank of China (PBoC) said in its quarterly monetary policy report posted on its website.     The country has pumped 4.58 trillion yuan (670 billion U.S. dollars) of new loans into the economy in the first quarter to stimulate growth.     The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan.     The country's financial institutions and enterprises would digest the huge amount of new loans in the following months, the report said.     Industry insiders have said credit extended by China's banks in April may have dropped to above 600 billion yuan after staying at above 1 trillion yuan for three straight months.     The central bank said new lending from commercial banks focused on government-backed projects. It encourages more bank loans to be channeled to small and medium-sized enterprises as they play an important role in the national economy and in increasing employment.     The central bank said in the first-quarter monetary policy report it would continue to instruct financial institutions to extend new loans, despite the earlier surge.     The pick-up in bank lending is conducive to stabilize the financial market and boosting market confidence, PBoC said. Meanwhile, the bank urged lenders to improve credit quality to avoid a possible rebound in bad loans.     There have been "positive changes" in the economy in the first quarter, the bank said, echoing remarks made by Premier Wen Jiabao last month.     The quarter-on-quarter growth is improving, compared to the fourth quarter of last year, it said, without giving specific figures.     China's economy expanded 6.1 percent in the first quarter, the lowest pace in 10 years and down from 9 percent in the fourth quarter last year.     The central bank also said foundations for the recovery are not solid, as uncertainties in external economies still exist and private investment is yet to become active with new lending concentrated on government projects.     In listing uncertainties ahead, the bank said the country still has to battle against the financial crisis that is unfolding and a collapse in external demand that is hurting exports.     The country is also under great pressure to create enough jobs and from a slower growth in residents' income, which would suppress future consumption, it said.     The bank also warned overcapacity and insufficient demand may drive prices lower in the country with the world economy in a downturn.     But it also said continued falls in prices may become less likely along with the world recovery, a turnaround in the national economy and fast credit growth.     "Prices of primary products and assets may rebound quickly once investor confidence is restored, as the global credit is relatively loose thanks to injection of liquidity and stimulus packages across the world," the bank said.     The central bank also said it was concerned that the extraordinary monetary policy adopted by other major economies would result in inflation risks.     It referred to the quantitative easing policy adopted by the U.S., Japan, Britain and Switzerland to pump cash into their economies.     The quantitative easing policy meant increasing currency supply through purchasing mid- and long-term treasury bonds after central banks cut interests rates to near zero.     The extraordinary monetary policy harbored huge risks for international financial markets and the global economy, said the central bank.     It would increase the risk of global inflation, said the central bank, suggesting it would create new assets bubbles and inflation if central banks of major economies failed to mop up thehuge liquidity when the global economy recovered.     "A policy mistake made by some major central banks would put the whole world in risk of inflation," it said.     The quantitative easing policy would also make exchange rates of major currencies more volatile, according to the report.     The central bank cited the U.S. move to purchase treasury bond in March as an example, saying although the dollar had appreciated against other major currencies, it fell after the purchase.     PBoC said the policy would leave the bond markets subject to fluctuations.     It said massive purchase of mid- and long-term treasury bonds may keep yield at a low level. But in the long run, as the financial markets returned to stability and the economy recovered, inflation expectations would grow, interest rates would rise, and bond prices would adjust sharply, according to the report.

BEIJING, June 10 (Xinhua) -- China is ready to end a de facto suspension of initial public offerings (IPOs) on the Shanghai and Shenzhen stock exchanges, after the securities regulator unveiled Wednesday the final guidelines for new IPOs.     The China Securities Regulatory Commission (CSRC) said the guidelines would take effect Thursday.     An unidentified CSRC spokesman said the commission will give approvals to applying firms any time after the guidelines become effective.     The commission announced draft guidelines on May 22 to solicit public opinions till June 5. The new guidelines aim to improve the price discovery function of the stock market, and help retail investors subscribe to newly issued stocks.     The draft said the quotation system for new issues should be revised so that issue prices faithfully reflect market demand, and lead underwriters should take steps to avoid "unreasonably" high prices.     Under the new rules, stock subscribers need to use either the online or off-line subscription system, but not both, to purchase new stocks. Institutional investors used to enjoy the privilege of subscribing through both systems, while retail investors could use only the off-line system.     Three revisions were made to the draft to follow public advices that the commission deemed reasonable.     The final version said a single investor is refined to use one account only to purchase new stocks, as some institutional investors have multiple accounts. The revision is aimed to help more smaller investors get access to new stocks.     In addition, the commission said it would consider to increase the number of tradable stocks in response to suggestions the lock-down of too many stocks would do no good to curb speculation.     However, the spokesperson said shares lock-down of large shareholders would remain in place, as it is aimed to prevent frequent changes in managerial staff that could jeopardize a firm's operation and create risks and the practice is followed on many overseas markets.     The commission also added the content about improving the "clawback" and the offering suspension mechanisms upon requests of the public. The "clawback" mechanism is used in the event that the deal is subscribed by 100 times or more.     The CSRC effectively suspended all new stock issues last September, as it halted approvals. Since then the stock market has plunged more than 50 percent from its peak 6124.04 in October 2007,compared to Wednesday's closing.     The CSRC spokesman anticipated that the first few new IPOs may not be satisfactory (in boosting the market), but he believed that the goals of the new guidelines could be achieved over time, which would play a positive role in boosting the market in the long run.     A total of 32 firms are on the waiting list to launch their IPOs on the A-share market, expecting to issue a combined more than 14 billion shares.     China State Construction Engineering Corp. is expected to issue12 billion shares.

RAMALLAH, June 23, (Xinhua) -- With more than 30 years of involvement in the work related to the Middle East issue, China's new special envoy to the Middle East Wu Sike said on Tuesday that he'll employ his personal experience on the region to help fulfill his mission.     Wu arrived in the West Bank city of Ramallah on Tuesday, starting the second leg of his first regional tour as China's new special envoy.     Upon his arrival, Wu told Xinhua that Chinese and Palestinian peoples have a traditional friendship, China has been long supporting the righteous Palestinian cause, with the positive sign emerged recently on the peace issue, China, along with the international community, is concerning on how to revive the peace process and push forward the process toward a final solution.     With this concern, Wu said the aim of his trip is to know the attitude and response of all sides involved in the peace process on the newly emerged situation, lay out China's stance on the issue, and exert efforts to boost the process with all sides in coordination.     Touching upon the issue of the internal Palestinian dispute between factions, mainly the rival Fatah and Hamas, Wu said Palestinian unity is crucial to solve the Middle East issue.     "Hamas is a major Palestinian faction, which enjoys strong public support," said the envoy, adding that, "it'll be important if Hamas can take an positive attitude toward the peace process and involved in it."     Wu said China is willing to see the success of the internal Palestinian dialogue, and is ready to make efforts on helping Palestinians to achieve national unity.     Wu, former Chinese ambassador to Egypt, was appointed as the special envoy in March this year to replace Sun Bigan.     He has been director of the Department of West Asian and North African Affairs of the Foreign Ministry, ambassador to Saudi Arabia and Egypt, and also the first Chinese plenipotentiary to the Arab League.     Citing his three-decade long diplomatic experiences in the region, Wu said that he witnessed both the disasters and losses caused by conflicts and the development, stability and opportunities brought by peace tracks between countries in the region.     "The contrast between the two tracks makes me convinced that military confront could not bring about the resolution of the Middle East issue, and the only way out is through peace negotiations," said the envoy.     Bearing the belief, the envoy said he will discuss both his personal experience and China's stance on the Middle East issue with all sides during his mediation, and actively involve in the peace process to fulfill his mission.