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BEIJING, Oct. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang's upcoming visit to three nations would help advance bilateral relations between China and the three nations, said a senior official here on Monday.     "The visit will cement and promote our political mutual trust and traditional friendship," Chinese Vice Foreign Minister He Yafei told Xinhua.     Li will pay an official visit to Australia, New Zealand and Papua New Guinea from Oct. 29 to Nov. 5 at the invitation of governments of the three countries.     "This is an important visit paid recently by Chinese leader to the south Pacific region," He said, noting that the three governments attached great importance to the visit.     During the visit, Li will meet with the leaders of the three nations, attend the signing ceremony of bilateral agreements and make extensive contacts with officials of local governments, businessmen and peoples from all circles, according to He.     The visit would help promote friendly exchanges and pragmatic cooperation between China and the three countries in trade, energy, resources, science, education and other fields, and strengthen bilateral coordination in international and regional affairs, he noted.     Hailing the considerable progress in recent years, He said the Chinese government had always attached great importance to developing friendly and cooperative relations with the three countries.     "We always grasp the development direction of bilateral relations from a strategic and long-term perspective, adhere to the five principles of peaceful co-existence, and stick to the spirit of mutual benefit to strengthen our dialogue and cooperation," He noted.     "Seeking peace, development and cooperation is our common voice," He said, noting that in many ways, China's relations with the three countries faced a huge potential and rare opportunity for development.     He also provided detailed statistics to show the growth of bilateral relations, saying that economies of China and the three nations were highly complementary.     Australia is China's eighth largest trading partner and an important supplier of energy resources. Bilateral trade volume with Australia in 2008 reached 59.66 billion U.S. dollars.     New Zealand is the first developed country which signed and implemented the bilateral free trade agreement with China. Both Australia and New Zealand recognized China's full market economy status.     Papua New Guinea for many years is China's largest trading partner and investment destination in the Pacific island region.     According to incomplete statistics, at present, there are 130,000 Chinese students studying in Australia, and about 34,870 studying in New Zealand. The people-to-people exchanges between China and Papua New Guinea is also very active.     "Facts show that the development of the relationship between China and these countries has a solid foundation, and accords with the common interests of both sides," He noted.

BEIJING, Nov. 8 (Xinhua) -- Chinese President Hu Jintao on Sunday called for a "new chapter" of the development of the People's Liberation Army (PLA) air force.     Hu met with representatives of senior officers, role models and pilots of the PLA air force. Chinese President Hu Jintao (L front) meets with heroes of the Chinese Air Force on the occasion of the 60th anniversary of the founding of China Air Force in Beijing, China, Nov. 8, 2009The PLA air force have made huge progress in its own development over the past six decades, with remarkable contributions to the protection of China's sovereignty, safety, territorial integrity as well as to the socialist modernization of the country, Hu said.     China's national defense and the modernization of its army are facing new situations and new tasks, Hu said.     The air force have also entered a key phase of development, Hu said, urging them to develop systematic capabilities for both offensive and defensive operations.     This year marks the 60th founding anniversary of the PLA air force

BEIJING, Dec. 27 (Xinhua) -- China will maintain its pro-active fiscal policy and moderately loose monetary policy to buoy the economy in 2010 as many uncertainties persisted at home and abroad, Chinese Premier Wen Jiabao said Sunday. Averting the trend of falling global demand remained difficult, Wen said in an exclusive interview with Xinhua.     "Economies of some countries are starting to pick up, but fluctuations are still possible," Wen said.     "China's economy has been on track for recovery. However, the economic performance and operations of enterprises still mainly rely on support from government's policies," Wen said.     "A consolidated recovery in the country's economy does not point to a complete revival and a full revival does not mean China's economy is developing in a sustainable way," Wen said. Chinese Premier Wen Jiabao smiles during an exclusive interview with Xinhua News Agency at Ziguangge building inside Zhongnanhai, an office compound of the Chinese central authorities at the heart of Beijing, capital of China, Dec. 27, 2009    "To withdraw macro-economic policies too early will likely ruin the efforts made before and reverse economic development," Wen said.     The government would maintain the stability and continuity of macro-economic policies while comprehensively watching the domestic and foreign economic situations, Wen said.     The State Council, or the Cabinet, announced on Nov. 5, 2008, that the government would shift the fiscal policy from "prudent to pro-active" and the monetary policy from "tight to moderately loose" to stimulate the economy by expanding domestic demand to offset a slump in exports.     The Cabinet also unveiled a 4-trillion-yuan (585.6 billion U.S. dollars) stimulus package the same day.     "We have stabilized economic growth and employment and maintained social stability over the past year," Wen said. "The government's economic stimulus package has proved effective."     China's economy grew 8.9 percent in the third quarter, the fastest rate in a year, after expanding by 7.9 percent in the second quarter and 6.1 percent in the first three months, boosted by the massive government investment and record bank lending.     The People's Bank of China, the central bank, scrapped lending limits of commercial banks in November last year.     In the first 11 months of this year, new bank loans hit 9.21 trillion yuan, an increase of 5.06 trillion yuan over the same period last year, far exceeding the full year target of 5 trillion yuan the government set in March.     The government pledged at the Central Economic Work Conference earlier this month that it would stick to the pro-active fiscal policy and moderately loose monetary policy in 2010 to sustain a recovery backed by the stimulus package.     The government would adjust macro-economic policies in line with the changing economic situation and study issues arising during implementation of such policies, Wen said.     China would gear more investment to social welfare, technical innovation and energy conservation and emission cuts next year, Wen said.

BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed.     The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively.     CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan.     IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch.     Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007.     Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values.     Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus.     Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010.     Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling.     "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model."     It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan.     The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities.     Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed.     Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data.     The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.

BEIJING, Dec. 4 (Xinhua) -- Chinese Vice Premier Wang Qishan met here Friday with his Uzbekistan counterpart Elyar Ganiev, pledging to promote the healthy and sustainable development of economic and trade ties.     Wang conveyed congratulation on the success of the eighth session of the China-Uzbekistan Economic and Trade Cooperation Committee.     He said since the two countries forged diplomatic ties, high-level exchanges were frequent and the cooperation in such areas as economic and trade, energy and security were ever expanding. Chinese Vice Premier Wang Qishan (R) meets with his Uzbekistani counterpart Elyar Ganiev in Beijing, capital of China, Dec. 4, 2009    He called on governments of both sides to actively create conditions for exchanges and cooperation between entrepreneurs and people of various walks of life of the two countries and strengthen energy resource cooperation as well as cooperation outside the resource field.     Ganiev spoke positively of the development of Sino-Uzbek relations. He said Uzbekistan was willing to further enhance cooperation with China in various areas.