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BEIJING, March 5 (Xinhua) -- Chinese President Hu Jintao on Friday called for efforts toward balanced, coordinated and sustainable development in the transformation of its economic growth pattern.Hu made the remarks when joining a panel discussion on Premier Wen Jiabao's government work report with deputies to the National People's Congress, the top legislature, from the eastern province of Jiangsu.Hu said efforts should be made to cultivate new pillar industries and industries with features and advantages, and achieve the coordinated development of the first, second and third industries.Chinese President Hu Jintao (C) talks with deputies to the Third Session of the 11th National People's Congress (NPC) from east China's Jiangsu Province, in Beijing, capital of China, March 5, 2010. Hu Jintao joined in the panel discussion of Jiangsu delegation in deliberating the government work report by Premier Wen Jiabao on the opening day of the Third Session of the 11th NPC.The country needed to develop more core and key technologies to support its transformation of the economic growth pattern and the economic restructuring, he told the lawmakers.He called for the establishment of a market-oriented technological innovation system, in which enterprises play the leading role and which combines the efforts of enterprises, learning and research institutes.He said higher education and research institutes should play a more important role in scientific and technological innovation.The President also stressed the coordination of industrialization, urbanization, and agricultural modernization, so that the agricultural sector could be boosted by the industrial sector, while the rural areas could benefit from the urban regions.He said authorities should facilitate balanced allocation of public resources and the free flow of production factors between urban and rural areas.Hu pointed out that China was currently facing both opportunities and challenges at the same time, but the opportunities outweighed challenges.He urged officials in the Jiangsu Province to push forward independent innovation, promote urban-rural integration of economic and social development, and deepen the reform and opening-up drive.

BEIJING, Feb. 22 -- China's stock markets are likely to be fully open to foreign investors within 15 years, according to a leading investment expert.Direct foreign dealing in Chinese stocks is currently restricted through the government's Qualified Foreign Institutional Investor (QFII) scheme.The current annual quota for overseas funds is just billion, a small fraction of the total investment in China's main exchanges in Shanghai and Shenzhen.Stuart Leckie, chairman of Stirling Finance, a leading Hong Kong-based pensions investment adviser, said all restrictions could be off by 2025."All financial institutions will then be able to invest in the stock markets on the Chinese mainland, just as they do in Hong Kong, Japan or any other market," he said."It is 30 years since China's opening up and it will take half as long again for this to happen."He said the Chinese mainland would gradually lift barriers in the same way Taiwan and India have done in recent years.Leckie, author of the book, 'Pensions in China', and who was speaking at the Trade Tech 2010 Investment Conference, was bullish about the outlook for the Chinese market.He said the Shanghai Composite Index could double within the next three years and that it was a matter of if, not when, it returned to its all-time high of 6,124 in October 2007."I am sure the index will double over the next five years but there is a chance it will double in the next three years," he said.Other speakers at the conference were also optimistic about the outlook for investors in Chinese stocks. Michael Wang, head of dealing at the China International Fund Management said the Chinese market was full of opportunities."It is a golden opportunity to invest in China. Blue chip companies are still very cheap," he said. "In the medium term there might be some correction but we won't go back to 2006 levels (when the market was just over the 1,000 level)."Kent Rossiter, head of trading, Asia Pacific, for fund manager RCM, based in Hong Kong and which is part of the Allianz Group, was also confident. "I am really bullish about opportunities. I am worried about volatility, however," he said.Rossiter said some of the volatility was down to the inexperience and lack of competence of some professional investors in the Chinese market."The market needs to develop," he said. "Professional investors need to improve their performances. They have too much of the same mentality as the man on the street in that they just like to buy and sell without taking any view."Leckie added that the Chinese market was not about to repeat the experience of the Nikkei Dow in Japan."China is not about to become another Japan with the level of the index standing at a quarter of what it was 20 years ago."He was not concerned about the poor start to the Chinese markets in 2010 with the major index losing 8 per cent of its value in January and falling through the 3,000 barrier. It increased by 80 per cent in 2009. "Obviously China has got off to a weak start. It was the second worst performing market internationally in January after being the best performing in 2009. It is just living up to its reputation as a volatile index."He said he expected the market, however, to rise by up to 15 per cent in 2010 to a value somewhere between 3,600 and 3,800 from its January 1 level of 3,277. "I think this January decline is overdone."

HONG KONG, Feb. 15 (Xinhua) -- Over 20,000 people gathered on both sides of Hong Kong's Victoria Harbor to watch a 23-minute firework show Monday evening, as the city is unwrapping various festive activities to celebrate the year of the Tiger.The show began at 8 pm local time (1200 GMT) despite heavy fog and light showers.Spectators cheered and shouted as the Arabic number "eight" appeared in the sky, followed by patterns resembling fish. Fireworks designers explained that the number eight shares the same pronunciation with the word "Fa" which means striking gold while the word "fish" sounds the same with "surplus" in Cantonese.For Hong Kong residents who tend to believe that lucky signs and lucky-sounding words do actually bring in luck, they are delighted at the show, which also include patters similar to the shape of the Chinese traditional gold ingot and red Chinese character "Ji" which means auspiciousness.The Lunar New Year firework show has become an annual event since it lit up the sky above the Victoria Harbor for the first time during the Lunar New Year in 1982.Sponsors of the event said this year's extravaganza costs more that 3 million HK dollars (about 400,000 U.S. dollars ), but they insist the expenditure worthwhile as it brings laughter and joy to Hong Kong citizens at the begining of a new year.

BEIJING, Feb. 18 (Xinhua) -- China's operational high-speed railways have exceeded 3,300 kilometers, leading the world in both length and technologies, the Ministry of Railways said on its official website Thursday.Last year China finished two high-speed railways between Wuhan-Guangzhou and Zhengzhou-Xi'an, with an operating speed of 350 km/h. Before that, China had built high-speed railways between some of its major cities, including Beijing-Tianjin, Shijiazhuang-Taiyuan, Qingdao-Jinan, Hefei-Wuhan and Hefei-Nanjing.A number of new high-speed railways are being built and will be finished in the coming few years, of which the Beijing-Shanghai line has a length of 1,318 km and a designed travel speed of 350 km/h. Construction of the line started in April 2008 and would finish in around five years. It would cut travel times between the two cities to only five hours from about 12 hours.High-speed trains wait for departure at Guangzhou south railway station in Guangzhou, capital of south China's Guangdong Province, on Jan. 30, 2010. The Asia's biggest railway station came into use on Saturday, the first day of Chinese spring festival transport rush of 2010.China's railway links had expanded to 86,000 kilometers by the end of 2009, the world's second longest only after the United States.Railway passengers topped a record 1.53 billion last year. Cargo transportation hit 3.32 billion tonnes, according to the ministry.Railway investment surged 80 percent to 600 billion yuan in 2009 boosted by the 4-trillion yuan stimulus package. The government has planned a record 823.5 billion yuan for 2010 to extend the network to 90,000 kilometers by the end of this year.

BEIJING, Feb. 4 (Xinhua) -- China and Switzerland held their first study meeting on the feasibility of a Free Trade Area (FTA) in Beijing on Thursday, China's Ministry of Commerce (MOC) said in a statement on its website.The meeting will continue until Friday, the department of international trade and economic affairs of the MOC told Xinhua.According to MOC statistics, bilateral trade between China and Switzerland topped 11.3 billion U.S. dollars in 2008.Although the two-way trade volume dropped slightly on account of the global economic downturn in 2009, the decline rate was small.Official figures also show that Switzerland is China's ninth largest European trade partner, while China is Switzerland's fourth largest global trade partner.

来源：资阳报