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BEIJING, April 27 (Xinhua) -- China should still be alert to the credit crisis starting in the United States more than one year ago that has afflicted the Chinese financial sector and export, Ou Minggang, deputy editor-in-chief of Chinese Banker magazine, said on Saturday.     Ou told Xinhua during an interview that domestic banks and other financial institutions bear the brunt of the widespread U.S. subprime mortgage crisis, as those agencies' asset value and book earnings would dip to some extent.     "Currently the impact on domestic financial institutions is still limited," he said.     The Industrial and Commercial Bank of China, the country's largest lender, said at the end of last month its 2007 net profit rose 64.9 percent year-on-year to 82.3 billion yuan (11.7 billion U.S. dollars).     The Bank of China posted a 31.3 percent net profit rise in 2007 after booking 1.3 billion U.S. dollars as an impairment allowance for its 4.99 billion U.S. dollars in investment in securities linked to U.S. subprime mortgages by the end of last year.     However, the International Monetary Fund (IMF) said on April 8 that the recent financial turbulence triggered by the collapse of the U.S. subprime mortgage market could cost the global financial system to the tune of 945 billion U.S. dollars.     "The global financial system has undoubtedly come under increasing strains since October 2007, and risks to financial stability remain elevated," the IMF warned in its latest Global Financial Stability Report.     Ou said, "The crisis also made Chinese financial supervision regulators face up to the challenges of balancing financial innovation and risks, which requires them to push forward the reforms in the country's financial system in a more cautious manner."     Experts warned that financial risks know no national boundaries and some foreign capital has fled from the Chinese financial market as many banking titans including Citigroup and Merrill Lynch were in deep water in credit crisis.     China's benchmark Shanghai Composite Index, which covers both A and B shares, shrank nearly half from the peak of 6124.04 points of Oct. 16 last year to 3094.67 points on April 18.     The overnight announcement of a cut in share trading taxes drove Chinese stocks 9.29 percent higher in soaring turnover on Thursday, with the key Shanghai Composite Index up 304 points to 3,583.03, the largest gain since Oct. 23, 2001.     Chinese regulators announced curbs on the sale of non-tradable shares that come out of lock-up periods on April 20, another move to bolster the falling market.     However, market observers held that the credit crisis and the U.S. economic slowdown are still casting gloom over Chinese investors' confidence.     Experts said the crisis was spreading beyond the financial sector. Consumption confidence in the United States is dampened as the credit crisis unfolded, with Chinese exports also hurt.     From January to March, China's total exports rose 21 percent to206 billion U.S. dollars, 6.4 percentage points lower than a year earlier. The exports to the U.S. grew 5.4 percent to 53 billion yuan, 15 percentage points lower than the same period of last year, according to customs statistics.     In the trade hub of southern Guangdong Province, the growth of exports to the United States dwindled to 4.8 percent in the first quarter of this year from 15.5 percent in the same period of 2007,said Wu Gongquan, vice director-general with the province's department of foreign trade and economic cooperation.     Zhang Yansheng, director of the International Economic Research Institute under the National Development and Reform Commission, said China needs to shift its economic driving force from relying on exports to domestic consumption, technology upgrading and management innovation.     Ou added that the country should increase financial transfer payments to help low-income families to consume more and boost the consumption in the vast rural areas.     Experts suggested that Chinese exporters should upgrade their products mix and open new markets besides their traditional key markets in the United States and Europe.

BEIJING, April 4 (Xinhua) -- Some 600,000 people visited graveyards in the suburbs of Chinese capital Beijing on Friday, about triple last year's figure of 189,000, according to official statistics.     On Dec. 16, the State Council (cabinet) revised the nation's official holiday schedule to add three traditional festivals -- Qingming, Duanwu and Zhongqiu -- in response to public calls. It also changed the length of other holidays. A citizen mourns her relative in a cemetery in Guangzhou, capital of southern China's Guangdong Province, April 4, 2008. The Chinese Qingming Festival, a day two weeks after the vernal equinox, is also called the Tomb-sweeping Day, when Chinese people usually mourn their deceased relatives, pay homage to martyrs and sweep the tombs of the departed. The holiday marked on Friday was Qingming, or grave-sweeping day.     The change was intended to allow more people to pay their respects to deceased relatives on what would otherwise be a workday like Friday. No national figures on this year's tomb visits were immediately available.     Unlike Beijing, many residents of Shanghai, China's largest metropolis and one of the most densely-populated cities, have to go to neighboring cities to visit relatives' tombs. People are walking to a cemetery in the west of Beijing on Friday, April 4, 2008. The Chinese traditional Qingming Festival falls on Friday this year, which is the occasion for Chinese people to pay respect to past ancestors by cleaning their graves, presenting offerings of food, and burning joss paper.Space for the dead is at even more of a premium in Shanghai than for the living, and the city's graveyards long ago stopped accepting new remains. Suzhou, Jiangsu Province, receives 900,000 tomb-sweepers from Shanghai every year.     Friday was a day of remembrance in many areas of China. In Huangling County, Shaanxi Province, 8,000 people including some senior officials attended the annual memorial service at the tomb of Huangdi, the "Yellow Emperor" of Chinese legend.     Governor Yuan Chunqing addressed the gathering and expressed his hopes that the Beijing Olympic Games would be successful, the reunification of China would occur and the world would become harmonious.     Scholars say that Qingming has preserved the "feeling" of being Chinese across the generations.     "Traditional culture has been infused with new spirits in different eras, and this is the mysterious power of Chinese Culture," Shi Aidong of the Chinese Academy of Social Sciences, told Xinhua in an interview.     Qingming is always a day of bitter memories for residents of Nanjing, the provincial capital of Jiangsu. The Memorial Hall of the Nanjing Massacre received numerous domestic visitors -- and many from Japan.     "We, from the aggressor side of the war, want to show regret to the victims on this special day," said one of the Japanese visitors.     In December 1937, invading Japanese troops slaughtered 300,000 Chinese soldiers and civilians in the city, which was then the national capital. Many of the bodies were never properly interred, and many of the Chinese visiting the memorial on Friday have no graves to visit.     Fuzhou, the capital of Fujian Province in east China, unveiled a monument ln honor of the thousands of firefighters died on duty since 1949. It is the first such monument in the country.

SEOUL, Aug. 25 (Xinhua) -- China and the Republic of Korea (ROK) issued a joint communique here Monday, vowing to cement bilateral relations.     The two countries pledged to broaden and enhance cooperation, and intensify coordination on regional and international issues so as to achieve long-term common development while contributing to world peace and prosperity, according to the joint communique issued during President Hu Jintao's state visit to the ROK.     The two sides agreed to promote the strategic cooperative partnership between the two countries in a comprehensive way.     The two heads of state expressed their satisfaction over the development of bilateral ties in various fields including politics, economy and culture since China and the ROK established diplomatic relations in 1992. Chinese President Hu Jintao (3rd L), accompanied by President of the Republic of Korea (ROK) Lee Myung-bak (1st L), reviews the honor guard during the welcoming ceremony held by Lee Myung-bak at the presidential palace in Seoul, capital of the Republic of Korea, Aug. 25, 2008. Hu Jintao arrived in Seoul on Monday for a two-day state visit to ROK    China-ROK ties are of great importance for both countries, and the development of relations has not only benefited China and the ROK, but also contributed to peace and development in Asia and the whole world, said the communique.     The two sides agreed to intensify political trust and support each other's peaceful development, as well as expand and deepen communication between the governments, parliaments and political parties of the two countries.     They also committed themselves to strengthening high-level contact and increasing dialogue on defense.     The two sides also decided to explore new areas of cooperation based on the principles of mutual benefit and complementarity.     China and the ROK will promote cultural exchanges, enhance mutual understanding and friendship between the two peoples, and intensify cooperation and coordination on regional and international issues. Chinese President Hu Jintao (L Rear) and President of the Republic of Korea (ROK) Lee Myung-bak (R Rear) hold a joint press conference after their meeting at the presidential palace in Seoul, capital of the Republic of Korea, Aug. 25, 2008. Hu Jintao arrived in Seoul on Monday for a two-day state visit to ROKOn the Taiwan issue, the ROK reiterated its adherence to the one-China policy.     The ROK pledged to further develop ties with the Democratic People's Republic of Korea (DPRK) through reconciliation and cooperation, while the Chinese side reaffirmed its support for the reconciliation process between the ROK and the DPRK and their final peaceful reunification.     China and the ROK will maintain frequent exchange of high-level visits and contacts, the communique said.     Diplomatic bodies of the two countries will hold advanced strategic dialogues this year, as the start-up of a strategic dialogue mechanism of exchanging views on important issues concerning bilateral common interests.     Besides, foreign ministries of the two countries will establish a mechanism of coordination in a bid to further exchanges on foreign policy and international situation, the communique said.     Experts from the two countries will launch joint research on promoting all-round bilateral exchanges and cooperation, and hand in their reports to the two governments.     In addition, senior officials from the defense bodies of the two countries will also increase contact and strengthen exchanges and cooperation on multiple levels.     On economic and trade cooperation, the two countries vow to intensify cooperation in trade and investment, inspection and quarantine, trade relief and intellectual property rights, in an effort to bring forward the target of annual bilateral trade worth200 billion U.S. dollars to 2010.     Meanwhile, the two countries will facilitate the adjustment and supplementation of the Medium and Long Term Development Vision for China-ROK Economic and Trade Cooperation.     The two nations are willing to work together to further expand bilateral economic and trade cooperation, the communique said.     In addition, cooperation in fields such as environment, information and communication, logistics and energy will also be pushed forward. Chinese President Hu Jintao (2nd L), accompanied by President of the Republic of Korea (ROK) Lee Myung-bak (1st L), is welcomed by Korean children upon his arrival at the presidential palace in Seoul, capital of the Republic of Korea, Aug. 25, 2008. Hu Jintao arrived in Seoul on Monday for a two-day state visit to ROKGovernment bodies of the two countries will spare no efforts to establish a favorable investment environment to aid mutual economic development.     On the principle of mutual benefits, China and the ROK will accelerate studies on the possibility of a free trade zone in order to quickly implement the same.     In order to successfully host the 2010 Shanghai World Expo and the 2012 Yeosu World Expo, the two countries also inked a series of agreements on cooperation and sharing of experience in this regard.     On cultural exchanges, the two countries will study measures on providing convenient services to visa applicants as part of efforts to expand people-to-people communication.     To further people-related exchanges, the two nations have designated 2010 as Visit China Year and 2012 as Visit Korea Year.     On regional and international affairs, the two countries will reinforce communication and cooperation in the framework of the six-party talks, and implement the second phase action of the talks in constructive efforts.     Both sides will maintain coordination and cooperation in mechanisms like ASEAN and China, Japan and South Korea, the East Asia Summit, ASEAN Regional Forum and Asia-Pacific Economic Cooperation.     Diplomatic bodies of the two countries will also set up a mechanism of coordination on UN affairs to enhance understanding and cooperation in this aspect, the communique noted.     President Hu Jintao arrived in Seoul earlier Monday for a two-day state visit, only months after his ROK counterpart Lee Myung-bak's official visit to China in May.     This is President Hu's second state visit to the ROK. He last visited the country in November 2005.

SINGAPORE, July 23 (Xinhua) -- The first informal meeting of the Foreign Ministers of the Six-Party Talks on the Korean Peninsula nuclear issue concluded here on Wednesday with "very meaningful results", Chinese Foreign Minister Yang Jiechi said.     In a news briefing after the close-door talks on the sidelines of the Association of Southeast Asian Nations (ASEAN) Ministerial Meeting, Yang said that the Six-Party Talks have "very meaningful results", adding that they exchanged views and deepened understanding and expressed the will of continued pushing forward the Six-Party Talks further.     Yang said, "with joint efforts, the six parties agreed that the initial success has been achieved" and the informal talks "made useful preparation for the formal Six-Party Ministerial Talks in early day".     The Chinese foreign minister said the six parties reaffirmed they will earnestly fulfill their commitment to the signed joint statements and related documents.     Yang said all agreed the Six-Party Talks are an important platform for exchanging views and enhancing understanding, adding that the six parties should continue to enhance their exchanges so as to "achieve mutual benefit and win-win progress". L to R) South Korean Foreign Minister Yu Myung-hwan, United States Secretary of State Condoleezza Rice and Chinese Foreign Minister Yang Jiechi arrive at the venue of the first foregin ministers' informal meeting of the six-party talks on the Korean Peninsula nuclear issue, in Singapore, July 23, 2008"As the Chair of Six-Party Talks," Yang said, "China will continue to make contributions...."     Yang said that although initial success has been achieved, yet "we have a lot of work to do".     The six countries involved in the talks are DPRK (Democratic People's Republic of Korea), China, the United States, South Korea, Japan and Russia.     In a statement issued late Tuesday night on ASEAN Plus Three (China, Japan and South Korea), ASEAN ministers welcomed recent developments that have contributed to regional peace and security in East Asia.     They reiterated their support for the Six-Party Talks and for the eventual normalization of relations between the relevant Six-Party members.     The latest round of talks was held in Beijing. Chief delegates of the six-party talks on the Korean Peninsula nuclear issue ended talks on July 12, agreeing to establish a verification mechanism for denuclearization.

TOKYO, Sept. 16 (Xinhua) -- The Fourth Beijing-Tokyo Forum began its plenary meeting Tuesday in Tokyo. Personages and prominent figures from various circles of the two nations had in-depth exchanges of views on bilateral relations and were of the same opinion that promoting two-way exchanges and mutual trust will be conducive to the advancement of bilateral ties.     At the start of the plenary meeting, Japanese Foreign Minister Masahiko Komura and Chinese Ambassador to Japan Cui Tiankai, on behalf of their respective governments, advocated joint efforts Tuesday to push forward the Japan-China relations and conveyed good wishes for their further advance. Wang Chen, head of the State Council Information Office of China, addresses the opening banquet of the 4th Beijing-Tokyo Forum in Tokyo, Japan, Sept. 15, 2008. The annual forum kicked off on Monday.Komura said that the Japanese government attaches great importance to its ties with China and it is his conviction that this general trend will not be reversed.     The two nations have made joint efforts to push forward bilateral ties as well as address regional and international issues in recent years, said Komura, adding that under the guiding principle of the Japan-China strategic and mutually beneficial relations, the two nations have witnessed advances and improvements in their ties.     Cui, for his part, said that national interests of the two countries entail both friendly relations and mutually beneficial cooperation.     And the stable, sound and long-term development of China-Japan relations serves as an important factor in maintaining both nations' prosperity and stability in the volatile international environments. Japanese Internal Affairs Minister Hiroya Masuda addresses the opening banquet of the 4th Beijing-Tokyo Forum in Tokyo, Japan, Sept. 15, 2008In his keynote speech at the meeting, Wang Chen, director of the State Council Information Office of China, hailed the China-Japan cooperation as a fine example for countries with different social systems.     He said that there are important bases and favorable environments for the long-term development of bilateral friendly relations.     For China-Japan friendship, geographical proximity is the natural link, political mutual trust serves as an important basis, mutually beneficial cooperation the economic basis and long-term people-to-people exchanges the important bridge, said Wang.     This year marks the 30th anniversary of the launch of China's reform and opening-up, he said, adding that China has made world-acknowledged outstanding achievements in its development in the past 30 years.     Wang said that China's development, characterized by its peace, openness, cooperation and harmony, offers a brighter prospect for the development of both nations.     The current world is undergoing profound changes, he said. And China is willing to work with Japan to actively participate in international cooperation in various areas, jointly promote world peace and achieve common development of the human race.     The two sides need to deepen mutual understanding in a bid to continuously promote the sound development of bilateral ties, said Wang, expressing his belief that with goodwill as well as cooperative attitude aimed at win-win results and sincerity for frank exchanges of views, the friendly relations between the two nations are sure to be continuously cemented.     Representatives from political circles as well as friendship bodies, including Zhao Qizheng, chairman of the foreign affairs committee of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), Chen Haosu, head of the Chinese People's Association of Friendship with Foreign Countries, Li Zhaoxing, chairman of the foreign affairs committee of China's National People's Congress (NPC), Yusuhisa Shiozaki, Japan's former chief cabinet secretary, Koichi Kato, chairman of Japan-China Friendship Association, also participated in the discussion of the general situation of China-Japan relations.     Later in the day, the forum had panel dialogues in terms of their respective subjects on such issues as politics, region, media, economy, security, environment and food. Having had frank and in-depth exchanges of views on the relevant issues, representatives of both sides were of the same mind on some issues though remained divided on some others. Most of the participants, however, agreed that the face-to-face exchange of views should be promoted as it helps deepen mutual understanding of the two nations.     The Fourth Beijing-Tokyo Forum opened with a dinner party late Monday. In their speeches at the party, Hiroya Masuda, Japanese Minister of Internal Affairs and Communications, and Wang Chen lauded the role the forum has played in the development of bilateral ties and wished it a success.     Present at the three-day forum are more than 100 personages from various circles of both countries.     The annual forum, co-sponsored by China Daily and the non-profit Japanese organization Genron NPO, is held alternately in Beijing and Tokyo. The first Tokyo-Beijing Forum took place in Beijing in August 2005.