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SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company.     The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai.     The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company.     The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects.     Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies."     The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company.     The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent.     Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.

BEIJING, Nov. 17 (Xinhua) -- China and the United States have agreed to continue dialogue and cooperation in macroeconomic and financial policies as the recovery of the global economy remains unsteady, Chinese President Hu Jintao told the press here on Tuesday after his talks with visiting U.S. President Barack Obama.     Hu said he and President Obama exchanged views on the current global financial situation and held that given the positive signs of the recovering global economy, the foundation of it was far from solid.     "We both agreed to properly handle trade frictions between the two countries through negotiations on an equal basis, and to make concerted efforts to boost bilateral trade and economic ties in a healthy and steady way," said Hu.     "I stressed to President Obama that under the current situation, both China and the United States should oppose and resist protectionism in all forms in an even stronger stand," he said.

VICTORIA, Seychelles, Nov. 21 (Xinhua) -- Zhou Yongkang, a senior official of the Communist Party of China (CPC), has met leaders of the Seychelles on bilateral relations. Zhou, a member of the Standing Committee of the CPC Central Committee Political Bureau, was welcomed Thursday evening at the airport by the general secretary of the People's Party of the Seychelles, Danny Faure, who is also finance minister. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with Seychellois Vice President Joseph Belmont in Victoria, capital of Seychelles, Nov. 20, 2009    During their meeting, Zhou said the CPC and the People's Party have maintained close and friendly cooperation since the two parties forged ties in 1979 and played positive roles in promoting the relations between the two countries and the friendship between the two peoples. Zhou Yongkang, member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, meets with Danny Faure, general secretary of the People's Party of the Seychelles, in Victoria, capital of Seychelles, Nov. 19, 2009. The CPC is willing to enhance exchanges and cooperation with the People's Party of the Seychelles to further strengthen the political basis of the bilateral relationship, said the senior CPC official.     The CPC and the Chinese government are also willing to boost cooperation with African countries, including the Seychelles, in meeting the challenges of the international financial crisis, said Zhou.     Faure said China has always treated the Seychelles, a small country, on an equal footing, adding that the two nations, the two peoples and the ruling parties of both countries have maintained friendly relations, which could be regarded as a model for relations between big and small countries.     The People's Party hopes to promote exchanges with the CPC on the experience of governance, said Faure.     When meeting with Vice President Joseph Belmont on Friday, Zhou said the relations between China and the Seychelles have witnessed a sustained healthy and steady development since the two countries established diplomatic ties 33 years ago.     With the smooth implementation of China's eight measures regarding cooperation with Africa, proposed by Chinese President Hu Jintao in 2006, China and the Seychelles have seen increased exchanges of high-level visits, deepened traditional friendship and expanded cooperation, Zhou said.     The Chinese government announced eight new measures to enhance cooperation with Africa earlier this month, and China is willing to jointly implement these measures with the Seychelles so as to bring more benefits to the Africans, including the Seychelles people, he said.     The senior CPC official also expressed appreciation for the support of the People's Party and the Seychelles government on the Taiwan and human rights issues.     Belmont said the Seychelles people have benefited extensively from China-Africa cooperation, adding that the Seychelles welcomed China's new measures on its cooperation with Africa and would implement them in a timely manner.     While expressing the hope for enhanced cooperation in tourism, the Seychelles vice president also expected more investment from Chinese companies in the country's tourism sector.     Zhou arrived here Thursday for a technical stopover after concluding visits to Sudan and South Africa.

BEIJING, Dec. 27 (Xinhua) -- Premier Wen Jiabao Sunday urged the Chinese people remain aware of possible hardships and crises in the upcoming year and to work hard for a more promising future.     Wen told Xinhua in an exclusive interview that the way ahead for the Chinese people would be "a bumpy road," but the nation had made transparent achievements in tackling the global economic downturn.     "The Chinese people have gone through so many disasters. And one eminent tradition of our nationality is to be independent and indomitable without fear," he said. Chinese Premier Wen Jiabao smiles during an exclusive interview with Xinhua News Agency at Ziguangge building inside Zhongnanhai, an office compound of the Chinese central authorities at the heart of Beijing, capital of China, Dec. 27, 2009    Wen said perseverance would lead to success and hoped all Chinese would make persistent efforts under the leadership of the Community Party of China and the central government.     "China has a great deal of hope in its future," he said when asked to give his New Year message to all Chinese.

SHANGHAI, Nov. 23 (Xinhua) -- Baosteel Group, China's leading steelmaker, announced on Monday its acquisition of 15 percent stake in Aquila Resources, an Australian iron ore and coal company.     The 286 million Australian dollar purchase (265 million U.S. dollars) has made Baosteel the second largest shareholder of Aquila, said the Chinese company based in Shanghai.     The transaction is an important strategy for Baosteel's overseas expansion by securing long-term supply of critical raw materials for its steel making business, said the company.     The deal will help the Australian company source low-cost financing from Chinese institutions to support its projects.     Tony Poli, executive chairman of Aquila said on the company website, "The company now looks forward to developing its relations with Baosteel to the mutual benefit of both companies."     The deal was approved on November 13 by China's top economic regulator, the National Development and Reform Commission (NDRC), and it was Baosteel's first large strategic investment in a foreign public company.     The two companies signed an agreement on the acquisition in August this year and got nod in October by Australia's Foreign Investment Review Board (FIRB), which limited Baosteel's stake in the Australian company to the utmost 19.9 percent.     Under the terms of the deal, Dai Zhihao, a vice president of Baosteel, will step in as a board member of the Australian coalminer.