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BEIJING, April 5  --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.

YUSHU, Qinghai, April 23 (Xinhua) -- A Chinese official Thursday said there had been no looting of quake relief materials in northwestern province of Qinghai and the aid had been distributed to victims in a fair and transparent way.Geng Yang, director of the Qinghai Provincial Department of Civil Affairs, said sparse looting did happen in the early period of the distribution of the relief materials."But this has been promptly stopped by government," Geng said in response to some media reports which also said some individuals in the Tibetan Autonomous Prefecture of Yushu, hit by a 7.1-magnitude quake on April 14, stockpiled and sold the materials at high prices.  Rescuers search for possible survivors and useful articles of local people in Gyegu Town of quake-hit Tibetan Autonomous Prefecture of Yushu, northwest China's Qinghai Province, April 22, 2010.Geng said their own investigations did not discover the alleged misconduct.

UNITED NATIONS, May 4 (Xinhua) -- "China has consistently stood for the complete prohibition and thorough destruction of nuclear weapons," and "it is firmly committed to a nuclear strategy of self-defense and its nuclear weapons pose no threat to other countries," a senior Chinese diplomat said here Tuesday.Li Baodong, head of the Chinese delegation to the conference to review the Nuclear Non-Proliferation Treaty (NPT), made the statement when he was taking the floor at the conference, which entered its second day here Tuesday."We have adhered to the policy of no-first-use of nuclear weapons at any time or under any circumstances, and made the unequivocal commitment that we will unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," said Li, who is also the Chinese permanent representative to the United Nations."This open, explicit and transparent nuclear policy makes China unique among all nuclear-weapon states. China has never deployed any nuclear weapons on foreign territory," he said. "China has not participated and will not participate in any form of nuclear arms race.""China supports the early entry into force of the CTBT ( Comprehensive Test Ban Treaty) and the early commencement of the negotiation of a Fissile Material Cut-off Treaty. China will continue to keep its nuclear capabilities at the minimum level required for national security, and continue to make efforts to advance the international nuclear disarmament process," he said."The entry into force of the Comprehensive Test Ban Treaty at an early date, and the early commencement of negotiations on the Fissile Material Cut-off Treaty are of great importance to advancing the nuclear disarmament process," he said. "The international community should continue to make even greater efforts to this end.""Other nuclear-weapon states, when conditions are ripe, should also join the multilateral negotiations on nuclear disarmament," he said. "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."The CTBT is the first treaty, in the form of international legal document, aimed to completely prohibit any nuclear weapon test explosion under any circumstances and in any place on the global scale.The treaty, which was adopted in New York on Sept. 10, 1996, constrains the development and qualitative improvement of nuclear weapons. It also provides for the establishment of a global verification system to monitor compliance with the treaty's provisions.It becomes operational 180 days after 44 states, whose ratification is required under Annex II of the text, have ratified it. To date, 181 states have signed it and 150, including 35 of the Annex II States, have ratified it."To steadily promote nuclear disarmament is an important step towards the complete prohibition and thorough destruction of nuclear weapons, and requires unremitting efforts from all parties, " he said."All nuclear-weapon states should fulfill in good faith obligations under article VI of the NPT, and publicly undertake not to seek permanent possession of nuclear weapons," he said."We welcome the recent signing of the new bilateral nuclear disarmament treaty between the United States and the Russian Federation," Li said. "As countries with largest nuclear arsenals, the two should continue to make drastic reductions in their nuclear arsenals in a verifiable and irreversible manner, which will contribute to creating conditions for the ultimate realization of complete and thorough nuclear disarmament.""Nuclear-weapon states should earnestly reduce the role of nuclear weapons in their respective national security policy, unequivocally undertake not to be the first to use nuclear weapons, and unconditionally not to use or threaten to use nuclear weapons against non-nuclear-weapon states and nuclear-weapon-free zones," he said. "We call on all nuclear-weapon states to conclude an international legal instrument in this regard at an early date."Nuclear disarmament must follow the principles of maintaining global strategic stability and undiminished security for all, he said. "The development of missile defense systems that disrupt global strategic stability should be abandoned. Multilateral negotiation process to prevent the weaponization of and arms race in outer space should be vigorously promoted."

VIENNA, May 19 (Xinhua) -- Visiting Chinese Minister of Commerce Chen Deming stressed here on Wednesday that China will continue to stick to the policy of opening up and protecting the legitimate rights and interests of foreign-invested enterprises (FIEs) in the country.Speaking at a joint press conference with Reinhold Mittelehner, the Austrian economic affairs minister, and Christoph Leitl, president of the Austrian Chamber of Commerce, Chen said the Chinese government will step up intellectual property protection, and that all foreign investment enterprises in China will be treated equally.He called on Austria's small and mid-sized businesses to invest in China, especially in western China where "there are better chances."China and Austria should amend their agreements on investment protection for better results, Chen said.In addition to cooperation in traditional industries such as machinery, auto parts and transportation infrastructure, China and Austria can also cooperate in clean energy and environmental protection, Chen said.Chen was leading a trade mission to Austria. The two countries signed over a dozen cooperation agreements in trade and economy.

BEIJING, April 28 (Xinhua) -- Industrial enterprises in China's 24 regions reported combined profits of 690.8 billion yuan (101.2 billion U.S. dollars) in the first quarter, more than double the figure of the same period last year, the National Bureau of Statistics (NBS) said in a statement Wednesday.The NBS did not provide reasons for the 102.6-percent profit surge. The figure was down 21.1 percentage points for the first two months of the year, the statement said.Analysts attributed the growth to a low comparison base during the first quarter of 2009 when the country's economic growth was dragged down by the global economic downturn. The economic recovery, backed by government stimulus measures, also helped lift profits.The People's Bank of China, the central bank, said in a statement last week that industrial production in the first quarter had accelerated and profits of enterprises continued to expand on growing domestic demand.Altogether 38 of the 39 major industrial sectors saw year-on-year growth in profits, with profits of the steel industry up 3,380 percent and those of the power sector up 1,540 percent, the statement said.

来源：资阳报