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SHANGHAI, Aug. 28 (Xinhua) -- Baosteel Group, China's largest steel maker, said Friday it has agreed to pay 285.6 million Australian dollars (240.7 million U.S. dollars) for a 15-percent stake in Australian miner Aquila Resources.     Baosteel will buy up to 43.95 million shares in Aquila at 6.5 Australian dollars a share.     The deal, which will make Baosteel the second-biggest shareholder in Aquila, is still to get approval from Australian and Chinese regulators.     The company executives valued the growth potential of Aquila's assets in the deal that is another major step in its overseas expansion, said a statement on Baosteel's website.     Baosteel established a joint venture with iron ore giant Rio Tinto in 2001 and Companhia Vale do Rio Doce (CVRD) in 2002 to secure iron ore imports.     In a press release, Aquila said the deal was "an important transaction in Baosteel's strategy to secure long-term supply of critical steel raw materials."     The strategic cooperation will "fast-track the development of Aquila's key steel raw materials projects including iron ore, coal, and manganese," said the statement.     Baosteel would possibly make further direct investment into a number of its projects and help it get low-cost financing from China for most of its major projects, including the strategic West Pilbara Iron Ore Project, said the Aquila statement.     It added that the state-owned Chinese steel mill had agreed not to hold more than 19.99 percent of Aquila before August 2010.     Shares in Aquila surged 9.16 percent, or 60 Australian cents, to 7.15 Australian dollars Friday.

BEIJING, Aug. 26 (Xinhua) -- A senior Chinese legislator said Wednesday that China will promote social exchanges with Myanmar to boost bilateral ties.     "We attach importance to and support friendly exchanges and cooperation between social groups and organizations in China and Myanmar, which will contribute to the development of bilateral ties," said Zhou Tienong, vice chairman of the Standing Committee of the National People's Congress, in a meeting with a delegation from a government-supported organization from Myanmar.     Zhou, also president of the Chinese Association for International Understanding, briefed the eight-member delegation on China's political and economic situation, its measures in tackling the global downturn and pledged to boost economic and trade cooperation with the international community, including Myanmar. Zhou Tienong (R), vice chairman of the Standing Committee of China's National People's Congress, meets with a delegation of the Union Solidarity and Development Association (USDA) of Myanmar headed by U Than Htay (L), member of the USDA Central Executive Committee and deputy energy minister of Myanmar, in Beijing, China, on Aug. 26, 2009    The delegation from the Union Solidarity and Development Association (USDA), was headed by U Than Htay, a member of the USDA Central Executive Committee and Deputy Energy Minister.     China-Myanmar trade hit 2.6 billion U.S. dollars last year, anda Free Trade Area of China and the Association of Southeast Asian Nations is expected to be established in 2010.

BEIJING, August 5 -- Property sales across 30 cities in China fell 4 percent in July as prices soared and supplies dwindled with big cities feeling the pinch for the first time this year, analysts said.     According to the UWIN property transaction system, the floor space of apartments sold in July dipped 5.37 percent over June to 1.04 million sq m.     Statistics put out by the Beijing Real Estate Transaction website showed that sales of forward delivery housing in Beijing fell to 10,862 units last month, compared to 12,840 units in June.     Property transactions in Guangzhou fell 36 percent over June. The figure is only half of that of May, said Guangzhou's official property website.     "The fall has been triggered by high property prices and shrinking supplies in some cities," said Qin Xiaomei, head of research, Jones Lang LaSalle Beijing. "Property developers have slowed down the pace of new projects in the second half after robust sales in the first half," she said.     Property prices in China's 70 major cities were up 0.8 percent in June, the fourth month-on-month growth in a row this year, according to statistics from the National Development and Reform Commission.     Beijing and Shanghai reported a month-on-month growth of 0.4 and 1 percentage points respectively in June, with prices skyrocketing to record highs of 2007 in some areas, fueled by strong investment, purchase demand and higher land prices.     The high prices have also made most of the prospective buyers wary of making fresh investments.     Li Wei, a 29-year-old company executive in Beijing, said he would prefer to adopt a wait-and-see attitude as the high prices have made most of his preferred apartments unaffordable.     "The unit price of the apartment has soared to 20,000 yuan per sq m from 14,500 yuan per sq m 40 days ago," Li said.     For others like Zhang Li, a property speculator from Wenzhou, Zhejiang province, this is the time to cash in. The apartment she bought in November last year has gained 40 percent in the past six months, largely exceeding her expectations.     "I am a bit uneasy with such a rapid increase in such a short period of time," said Zhang, who has property investment experience of more than a decade. "With people's income and economic fundamentals seeing no big change, I think selling the property will be a safer bet."     According to Grant Ji, director of Savills (Beijing), a UK-based real estate service provider, the fall in transaction volume is still within a normal band.     "July was an off-season for the housing market," said Ji.     "With no big shift likely in the macroeconomic policy during the second half, property prices are unlikely see a big fall as the market is still awash with funds," Ji said.

UNITED NATIONS, Sept. 24 (Xinhua) -- Chinese President Hu Jintao on Thursday made a five-point proposal for building a safer world for all through nuclear non-proliferation and disarmament. During an address at the U.N. Security Council nuclear summit, Hu said "nuclear proliferation remains a pressing issue and nuclear disarmament a long and arduous task."     "To realize a safer world for all, we must first and foremost remove the threat of nuclear war," he said.     The Chinese president called for efforts be made in the following five areas: Chinese President Hu Jintao (Front) addresses the Summit on Nuclear Non-Proliferation and Nuclear Disarmament at the United Nations headquarters in New York Sept. 24, 2009. The U.N. Security Council on Thursday unanimously adopted a resolution to stop the proliferation of nuclear weapons in a bid to seek a safer world for all, and to create conditions for a world without nuclear weapons    First, to maintain global strategic balance and stability and vigorously advance nuclear disarmament:     All nuclear-weapon states should fulfill in good faith obligations under Article VI of the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), and publicly undertake to not seek permanent possession of nuclear weapons.     "Countries with the largest nuclear arsenals should continue to take the lead in making drastic and substantive reductions in their nuclear weapons," he said.     To attain the ultimate goal of complete and thorough nuclear disarmament, the international community should develop, at an appropriate time, a viable, long-term plan composed of phased actions, including the conclusion of a convention on the complete prohibition of nuclear weapons, he said.     Second, to abandon the nuclear deterrence policy based on first use and take credible steps to reduce the threat of nuclear weapons:     "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," Hu said.     In the meantime, nuclear states should negotiate and conclude a treaty on no-first-use of atomic weapons against one another.     Third, to consolidate the international nuclear non-proliferation regime and prevent the proliferation of nuclear arms.     "All countries should join the NPT and real efforts should be made to uphold and enhance its authority and effectiveness. The function of the International Atomic Energy Agency (IAEA) in safeguards should be strengthened," Hu said.     All countries should strictly comply with non-proliferation obligations, refrain from double standards, and tighten and improve export controls to prevent proliferation.     Fourth, to fully respect the right of all countries to the peaceful use of nuclear energy and carry out active international cooperation:     "Developed countries should actively assist developing countries in developing and using nuclear energy for peaceful purposes. The IAEA should increase input to promote technical cooperation and assistance in nuclear power, nuclear safety and security, and nuclear technology application," Hu said.     The IAEA should increase input to promote technical cooperation and assistance in nuclear power, nuclear safety and security, and nuclear technology application.     And, fifth, to take strong measures to enhance nuclear security and reduce nuclear risks:     "Countries should act in strict observance of all international legal instruments governing nuclear security, take credible steps to ensure the security of their nuclear facilities and materials, and prevent the diversion of nuclear materials with effective means," he said.     The international community should intensify cooperation and combat nuclear terrorism through concerted efforts.     The Chinese leader reiterated his country's firm commitment to a nuclear strategy of self-defense.     "We have adhered to the policy of no-first-use of nuclear weapons at any time and under any circumstance, and made the unequivocal commitment that we will unconditionally not use or threaten to use nuclear weapons against non-nuclear-weapon states or nuclear-weapon-free zones," he said.     Hu also urged the international community to do the following to build a safer world:     -- Foster a peaceful and stable international environment, resolve international disputes through peaceful means, and increase the sense of security for all countries. Promote development, eradicate poverty, and remove the root causes of conflict and instability.     -- Fully respect and accommodate the legitimate and reasonable security concerns of all countries, refrain from pursuing one's own security at the expense of others, and ensure security for all through win-win cooperation.     -- Build state-to-state relations of mutual understanding and mutual trust, resolve differences and dispel misgivings, and conduct dialogues and cooperation on an equal footing.     -- Adhere to multilateralism. Consolidate the collective security system with the United Nations at its core and make the system more just and reasonable so that it can play a robust role in international security cooperation.     Hu was in New York for a series of U.N. meetings. He was scheduled to attend a financial summit of the Group of 20 in Pittsburgh on Thursday and Friday. 

BEIJING, Oct. 10 (Xinhua) -- Senior Communist Party of China (CPC) leader Li Changchun has pledged to strengthen cooperation between Chinese and foreign media and to facilitate foreign media coverage of China. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the remarks Friday evening when he met the heads of 10 major media organizations attending the World Media Summit in Beijing.     The Chinese government has been promoting media development and supporting Chinese media in enhancing exchanges and cooperation with foreign counterparts in news, human resources, information technologies and business development, he said. Li Changchun (L5, front), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, poses with heads of some media organizations attending the World Media Summit, in Beijing, capital of China, Oct. 9, 2009.    Hopefully, the media could strengthen mutual understanding and friendship through exchanges and cooperation and contribute to building a harmonious world, he said.     He said he expected more foreign media leaders and reporters to visit China and introduce China to the world with true, accurate, comprehensive and objective reports.     The World Media Summit ending on Saturday was launched by Xinhua News Agency and another eight world media organizations. About 300 representatives from more than 170 media outlets from around the globe gathered to discuss how to develop the industry amid challenges from the economic crisis and new technologies.

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