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NEW YORK, April 15 (Xinhua) -- Chinese State Councilor Liu Yandong gave a speech at the prestigious Yale University on Wednesday, calling for the strengthening of bilateral exchanges and cooperation in the field of humanities. Liu said that to build positive and comprehensive Sino-U.S. relations in the 21st century, the two countries need to deepen and expand exchanges and cooperation in humanities.     "Humanities exchange is a bridge of friendship, understanding and trust between nations and peoples, which comprises an important part of Sino-U.S. relations along with economic and trade cooperation," she said. Chinese State Councilor Liu Yandong (L) receives the Howland Medal from the President of Yale University Richard Levin at Yale University in New Haven, Connecticut, the United States, April 15, 2009. Liu Yandong gave a speech at the prestigious Yale University on Wednesday, calling for the strengthening of bilateral exchanges and cooperation in the field of humanities    Strengthening humanities exchanges, promoting consensus and understanding will help different cultures to learn from each other and develop, and earn benefits for the countries and peoples, Liu said.     She said China and the U.S. should attach great importance to and enhance exchanges and cooperation in humanities from a strategic and long-term perspective, explore new ways, and enrich new content into the field.     Liu offered China's willingness to promote dialogue and exchanges with the U.S., enhance mutual trust and cooperation, and jointly push the bilateral relations to further development in the new era.     Liu arrived in New York on Saturday, at the start of her official visit to the United States.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

BEIJING, Feb. 27 (Xinhua) -- Mitsubishi Motors, one of Japan's major car producers, will recall 9,390 vehicles in China from March 7 for brake system problems, the General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) announced Friday.     The problematic vehicles include 9,108 Outlander EX models produced in the period from Nov. 7, 2007 to Dec. 5, 2008, and 282 Lancer EX vehicles produced from Oct. 3, 2008 to Nov. 20, 2008.     The report said the brake vacuum booster of the cars could fail to function because of inside valve defects, posing a potential danger.     The GAQSIQ said Mitsubishi vehicle owners could have their cars examined and repaired free of charge at the company's service centers across the country.     The Japanese auto-maker recalled 12,985 vehicles last December, including 6,090 Grandis and 6,895 Outlander EX models, imported to China as the brake lights had problems because of a short circuit in the switch.

BEIJING, March 3 (Xinhua) -- China's top political advisor Jia Qinglin on Tuesday urged his colleagues from the private sector not to lay off workers to help maintain social stability amid the global economic turmoil.     Jia, Chairman of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC), said this in a report delivered at the second session of the 11th CPPCC National Committee, which convened Tuesday at the Great Hall of the People in downtown Beijing. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), delivers a report on the work of the CPPCC National Committee's Standing Committee at the Great Hall of the People in Beijing, capital of China, March 3, 2009. The Second Session of the 11th CPPCC National Committee opens on Tuesday"National Committee members from the non-public sector of the economy should be encouraged to shoulder their share of social responsibilities," according to the Report on the Work of the Standing Committee of the CPPCC National Committee.     "Advisors should try their best to refrain from laying off any employees, cutting salaries or withholding wages, so as to create a harmonious labor relationship," said Jia.     The unfolding financial crisis has resulted in mass unemployment in China. Jobless migrant workers alone exceed 20 million, not to mention millions of graduates swarming into the job market every year. The Second Session of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opens at the Great Hall of the People in Beijing, capital of China, March 3, 2009.A report issued in January by the Ministry of Human Resources and Social Security (MOHRSS) showed that China's urban unemployment rate rose to 4.2 percent at the end of 2008, up 0.2 percentage points year-on-year.     The real situation is more serious, as the number of migrant workers and newly graduated college students are not included in the count.     Political advisor Wang Junjin, chairman of the Shanghai-based Junyao group, said that the grim economic situation requires people to help each other and share weal and woe.     "Employers should nurture good relations with employees. They must also take up greater social responsibility," said Wang.     According to media reports, the ongoing CPPCC session and upcoming session of the National People's Congress, China's top legislature, will have deputies and advisors from more than 150 listed companies.     These companies account for about 10 percent of the firms listed on the yuan-denominated market. They include executives of large financial companies such as China Life Insurance (Group) Company and Ping An Insurance (Group) Company of China.     Jia also urged political advisors from the ethnic minorities and religious circles to play a unique role in the drive for ethnic unity and religious harmony.     The top political advisor also expressed support for the government's handling of unrest in Tibet in March last year.     "We unequivocally supported the Party and government in dealing with the destructive, disruptive, violent and illegal incidents in Lhasa, Tibet, and other areas in accordance with the law," Jia said.     Jia's speech was echoed by members from the religious circle. Advisor Huang Xinyang, president of the Beijing Taoism Association, said that the speech reflects the heartfelt wishes of advisors from the religious circle, who support the ideal of social harmony and national unity.     "A handful of separatists who advocate 'Tibet independence' do not represent the people of the religious circle and they are doomed to failure," said Huang.     Advisor Ma Guoquan from northwest Ningxia Hui Autonomous Regionsaid: "The religious policy we have now is the most appropriate. Believers have the full freedom to engage in religious activities. There is no reason for making trouble."