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SINGAPORE, Nov. 11 (Xinhua) -- Visiting Chinese President Hu Jintao met here Wednesday evening with Singaporean President S. R. Nathan, with both exchanging views on further developing bilateral ties between the two countries.     President Hu said that as the two countries are to celebrate the 20th anniversary of the establishment of diplomatic relations next year, China is ready to provide Singapore with a pair of pandas for joint research in a bid to further enhance the friendly feelings between the people of the two countries. Chinese President Hu Jintao (R, front), accompanied by Singapore's President S.R. Nathan (R, rear), inspects the honour guard during a welcome ceremony in honor of Hu in Singapore, on Nov. 11, 2009President Nathan said that China's decision to offer a pair of pandas to Singapore is an important symbol of friendship between the two peoples.     During the meeting with Nathan, Hu said the bilateral relations have witnessed rapid growth since the two countries established diplomatic ties 19 years ago.     The two sides have maintained frequent exchange of high-level visits and achieved fruitful cooperation in various fields, said the Chinese leader. Chinese President Hu Jintao (2nd L) and his wife Liu Yongqing (1st L) pose for a group photo with Singapore's President S.R. Nathan (2nd R) and Nathan's wife in Singapore, on Nov. 11, 2009. Expressing satisfaction with the good momentum in the development of bilateral relations, Hu said China attaches great importance to its relations with Singapore and is ready to deepen mutually beneficial cooperation, so as to make greater contribution to peace, stability and prosperity of Asia.     Hu emphasized that human resource is a key area of bilateral cooperation, to which both sides have always paid great attention.     Strengthening exchanges between the young people of both countries is conducive to the long-term and stable growth of bilateral links, he said.     Hu also briefed Nathan about the measures that China has taken to offset the impact of the international financial crisis and to maintain a stable and relatively rapid growth of the economy, as well as the effects of these measures.     Nathan warmly welcomed Hu's state visit to Singapore, saying the visit is of milestone significance in the development of the bilateral relations.     Under the current circumstances of rampant trade protectionism, China's success in addressing the challenge of the global financial crisis and maintaining a rapid economic growth deserves admiration and congratulation from Singapore, he said.     Nathan said that as the People's Republic of China celebrated this year the 60th anniversary of its founding, the great changes in China have brought about opportunities for the whole region and benefited every country in the region.     He said Singapore and China enjoy a close relationship as bilateral cooperation in various fields grow smoothly. Singapore hopes to further strengthen exchanges and cooperation with China in various areas such as economy and trade, tourism and education and to expand cooperation at local levels, he added.     Nathan said Singapore is also ready to expand cooperation with China in the area of human resource development.     Noting that Asia is frequently striken by natural disasters, Nathan said China has accumulated valuable experience in disaster relief during the severe earthquakes in Sichuan last year and in post-disaster rehabilitation for other countries to learn from.     Before the meeting, Nathan held a welcome ceremony for Hu.     President Hu arrived here Wednesday afternoon for a state visit to Singapore. This is the final leg of his two-nation Southeast Asia trip, which has already taken him to Malaysia.     During his stay in Singapore, President Hu will also attend the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC) slated for Nov. 14-15.

COPENHAGEN, Dec. 16 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Wednesday evening for the ongoing UN Climate Change Conference.     Wen told reporters aboard his special plane that his attendance at the meeting aims to show the great importance the Chinese government and people attach to climate change and to assert their sincerity and determination to work with the international community to meet this global challenge. Chinese Premier Wen Jiabao (3rd, L) signs his autograph on the comment book of honored guests after he arrives at Copenhagen, capital of Denmark , on Dec. 16, 2009. Wen Jiabao arrived here Wednesday evening for the ongoing UN Climate Change Conference. The Copenhagen climate conference is now in its final and critical stage, Wen said, adding that he will closely communicate and coordinate with various parties and deliver a speech outlining China's stance on climate change.     "I hope the meeting, with joint efforts made by various parties, will yield fair, reasonable, balanced and achievable results," he said.     During his stay in the Danish capital, Wen is scheduled to meet with some foreign leaders on the sidelines of the climate summit.     "Wen's trip to Copenhagen will inject a new momentum into the climate change talks and exert positive and important impacts for future international cooperation," Chinese Deputy Foreign Minister Wang Guangya told a press conference on Dec. 10.     The UN Climate Change Conference, which opened on Dec. 7, is to end Friday in Copenhagen. It aims to map out a comprehensive international arrangement for the fight against climate change over the period 2012-2020.

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, Dec. 26 -- Competition between airlines and rail operators will further hot up on Saturday thanks to the launch of China's longest high-speed train link between Wuhan and Guangzhou.     The line stretches more than 1,000 km and will slash the travel time from Wuhan, Hubei province, to Guangzhou in Guangdong from 10 hours to just three.     Tickets for the service - which also stops at Changsha, capital of Hunan - went on sale at new stations in the three cities last weekend, with prices ranging from 780 yuan (0) for first class to 490 yuan for second class, said a joint document released by the National Development and Reform Commission and the Ministry of Railways. A bullet train runs on the Wuhan-Guangzhou high-speed railway on Thursday    The link, on which trains will reach a top speed of 350 km/h, is expected to pose a real threat to airlines running flights linking the cities.     "High-speed rail has three advantages over air travel: it is more convenient, more punctual and has a better safety record. This could help erode the airlines' market shares," said Si Xianmin, chairman of China Southern Airlines, the largest domestic airline by fleet size.     From today's launch, 38 out of China Southern Airlines' 160-plus domestic flights will compete with high-speed train links, he said.     A similar service opened on April 1 between Wuhan and Hefei, Anhui province, had already grabbed half of the passengers traveling from Wuhan to Shanghai, said Si.     The Shijiazhuang to Taiyuan link, also opened on April 1, caused sales for China Eastern Airlines' Beijing to Taiyuan flight to slump 36 percent the following day, while private Spring Airlines reduced its Shanghai to Zhengzhou flights due to competition from the Shanghai bullet trains, Beijing News reported.     To deal with this threat, China Southern Airlines last week unveiled several counter measures, including cutting ticket prices from Wuhan to Guangzhou by almost half for advanced purchases.     The company also signed a deal with airports in Wuhan and Changsha to give priority to flights to Guangzhou to ensure punctuality.     If railway chiefs over-cut the number of low-cost tickets on slower trains, as they did when the country's first high-speed link opened between Beijing and Tianjin last year, the airlines could win more passengers with cheap offers, said Zhao Jian, professor with Beijing Jiaotong University.     "But whichever side wins, passengers will be the ultimate winner," he said.     Wu Wenhua, a researcher with the National Development and Reform Commission's comprehensive transport institute, said developing high-speed rail networks is in line with the demand for high-efficiency, low-emissions transport.     China plans to have high-speed rail services running between 70 percent of key cities by 2020, which would cover more than 80 percent of the airline network.     About 16,000 km of railway for 350-km/h trains will be built on the mainland in the next 10 years, according to a blueprint by the Ministry of Railways. By 2012, work will be completed on 42 high-speed links covering 13,000 km, the blueprint showed.

BEIJING, Jan. 5 (Xinhua) -- The Chinese government will continue encouraging outbound investment while attracting foreign investment in 2010 for "stable and relatively fast" growth of the country's economy, a government official has said.     Outbound investment, or "go-global" strategy, should aim at making use of overseas resources, market and advanced technologies, so as to help facilitate development of China's domestic economy, Zhang Xiaoqiang, vice minister in charge of the National Development and Reform Commission, said in the speech posted on the commission's website Tuesday.     The remarks were made at a conference held in Beijing on foreign investment on Dec. 11, but was not released until Tuesday.     In the first three quarters of 2009, China saw its investment overseas at 32.87 billion U.S. dollars, up 0.5 percent year-on-year, according to the Ministry of Commerce (MOC).     The country would also continue to attract foreign investment, he said. "Social stability, huge potential market and low cost of productive resources are still advantages for foreign investment," he said.     The country would see more advanced technologies and talents from foreign countries and foreign investment would better serve the structural reform of the country's economy.     Zhang said the government would stress national economic security while seeking to increase foreign investment. "We have to properly handle new challenges and situations when further opening sectors, including finance and telecommunications."     China's foreign direct investment shrank 14.26 percent from the same period last year to 63.77 billion U.S. dollars in the first nine months as foreign companies cut spending amid the global economic downturn, according to the MOC.     In the speech, Zhang also said China's currency was facing renewed pressure to appreciate because of the quantitative easing monetary policy in developed countries, a weakening dollar and recovery of China's economy.     The pressure would likely spur massive inflow of speculative money, making liquidity management more difficult.     Premier Wen Jiabao also said in December in an interview with Xinhua that the yuan faced appreciation pressure. "China will not yield to foreign pressure for the appreciation of its currency yuan in any form," Wen said.     "A stable Chinese currency is good for the international community," Wen said.

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