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ABUJA, Jan. 28 (Xinhua) -- China and Nigeria celebrated the 40th anniversary of the establishment of diplomatic relations on Thursday evening in Nigeria's capital city Abuja.More than 600 Chinese and Nigerian guests, including Nigeria's former Head of State Yakubu Gowon, attended the gala event.On Feb. 10, 1971, the two most populous developing countries in Asia and Africa set up their diplomatic relations, said Deng Boqing, the Chinese ambassador to Nigeria.The frequent high level visits from both sides built up the mutual trust, the exchanges and cooperation in the fields of economy, culture, science, education and health, he said.The bilateral trade volume in 2010 is expected to break the record 7.5 billion U.S. dollars in 2008. The total Chinese investment in Nigeria has been nearly 8 billion dollars by the end of 2010, he said.Deng also gave tribute to the indispensable efforts made by the overseas Chinese and Chinese companies in Nigeria.Yakubu Gowon, former head of state in the 1970s, told Xinhua that he was delighted to witness the establishment of diplomatic ties between China and Nigeria in 1971 during his term. He visited China and met the late Chinese leader Mao Zedong in 1974.Nigeria's President Goodluck Jonathan sent his representative to the celebration of the 40th anniversary of bilateral ties, pledging the two countries would work closely in the future.

BEIJING, Feb. 5 (Xinhua) -- Lending to China's small and medium-sized enterprises (SMEs) rose faster than loans to large enterprises last year, according to the People's Bank of China (PBOC), the central bank.Outstanding loans to small enterprises by banks and financial institutions jumped 29.3 percent year on year to 7.55 trillion yuan (1.15 trillion U.S. dollars) in 2010, while loans to medium-sized enterprises stood at 10.13 trillion yuan, up 17.8 percent, said the PBOC.Outstanding loans to large enterprises rose 13.3 percent to 13.42 trillion yuan, highlighting the government's efforts to optimize the loan structure, the PBOC said.About 99 percent of Chinese enterprises are SMEs which contribute 60 percent of the country's gross domestic product.Financing has long been difficult for Chinese SMEs as banks prefer to lend to big companies, particularly reputable state-owned enterprises.The government has moved to help SMEs get finance by differentiating the reserve requirement ratio for the Rural Credit Cooperative, the major lender to SMEs, and encouraging innovation in SME bond issuance.In July last year, the PBOC asked financial institutions to establish independent criteria for approving loans to SMEs and to improve efficiency in processing SME loan applications.The PBOC said SME loan growth would continue to accelerate this year.

BEIJING, Feb. 1 (Xinhua) -- Wu Bangguo, chairman of the Standing Committee of the National People's Congress of China, on Monday sent congratulatory messages to Myanmar's newly-elected upper house speaker U Khin Aung Myint and lower house speaker Thura U Shwe Mann, respectively,on their taking offices.Myanmar's house of nationalities (upper house) session on Monday elected U Khin Aung Myint, Minister of Culture, as speaker of the upper house.Also on Monday, No. 3 Myanmar state leader Thura U Shwe Mann, who is a member of the State Peace and Development Council and previously the Chief of General Staff of the army, the navy and the air force, was elected as speaker of the house of representatives by the house of representatives (lower house).