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LONDON, Jan. 10 (Xinhua) -- Visiting Chinese Vice Premier Li Keqiang met with British Prime Minister David Cameron on Monday afternoon to discuss bilateral ties.The meeting was held at No. 10 Downing Street, official residence and office of the prime minister, and lasted about one hour.The development of Sino-British relations has kept a good momentum since Britain's coalition government took office. The new British government has continued to pursue a positive China policy, and bilateral relations have achieved a smooth transition and sustainable development.China and Britain have maintained close high-level contacts and deepened their strategic mutual trust.Chinese Vice Premier Li Keqiang (R) meets with British Prime Minister David Cameron in London, Britain, Jan. 10, 2011. In November 2010, Prime Minister Cameron led the largest-ever British delegation to China, and leaders of both countries reached important consensus on further enhancing mutual political trust and promoting cooperation in various fields.Economic and trade cooperation between Britain and China has been booming. Bilateral trade reached 40.2 billion U.S. dollars between January and October last year, an increase of 30 percent over the same period of 2009 and also a record high for the same period.Li, who arrived here on Monday, met with Deputy Prime Minister Nick Clegg earlier in the afternoon. He is also expected to meet with Chancellor of the Exchequer George Osborne and Foreign Secretary William Hague.Britain is the last leg of Li's three-nation European tour, which has already taken him to Spain and Germany.

BEIJING, Dec.1 (Xinhua) -- Chinese President Hu Jintao received credentials from the ambassadors of seven countries to Beijing Wednesday. Hu met with the new foreign envoys in a ceremony at the Great Hall of the People in Beijing. The envoys were:-- Guyanese Ambassador David Dabydeen who arrived on July 8;-- Danish Ambassador Friis Arne Petersen, who arrived on Aug. 22; -- Costa Rican Ambassador Marco Vinicio Ruiz who arrived on Aug. 28; -- Swedish Ambassador Lars Freden who arrived on Sept. 1;-- South African Ambassador Bheki Winston Joshua Langa who arrived on Sept. 7; -- Tunisian Ambassador Mohamed Adel Smaoui who arrived on Sept. 16; -- and Palestinian Ambassador Ahmad A. M. Ramadan who arrived on Oct. 12. Enditem

BEIJING, Dec. 22 (Xinhua) -- China unveiled a new asset-management company that aims to restructure and merge small, uncompetitive state-owned enterprises (SOEs) on Wednesday.The new firm, China Reform Holdings Corporation Ltd., will focus on "reorganizing small-sized SOEs which do not affect national security and are not crucial to the national economy," the State-owned Assets Supervision and Administration Commission (SASAC), the SOE watchdog, said in a statement.The first-phase registered capital of the new company, which is wholly owned by SASAC, is 4.5 billion yuan (681 million U.S. dollars). SASAC has not yet revealed which companies will be involved in the reshuffling.Xie Qihua, former chairman of the Baosteel Group Corporation, China's largest steel maker, has been appointed board chairman of the new company.Liu Dongsheng, an SASAC official, will act as general manager, it said."The launch of the new company marks an important move to optimize the relocation of state economic resources and to give state capital more vitality, control and impact on key sectors," Wang Yong, deputy director of SASAC, said at the launching ceremony.He noted because the assets of the reshuffled companies took up a considerable amount of the entire state assets, the restructuring plays an active role in improving asset quality.According to SASAC' s plan, the company will participate in the share-holding reform of the reshuffled enterprises, and will also invest in emerging industries with strategic importance.Also at the launching ceremony, Wang stressed that the company is an asset management company rather than an investment group, ending rumors that it will become China's second sovereign fund after the China Investment Corporation (CIC).He noted the new company's mission is explorative and challenging, which needs to deal with it in a proactive and cautious way.In order to enhance the state company's efficiency and competitiveness, SASAC cut the number of SOEs under its direct control from 196 to 122 over the last seven years. They are expected to be further consolidated into around 100 by the end of 2010, according to SASAC plans.However, SASAC officials said it remains difficult to meet the target in time."It takes time to meet the goal," said Shao Ning, deputy director of SASAC. He added that the restructuring should take place when the time is right, and should give priority to "quality" and "good results" to ensure stability of the enterprises.In order to help the uncompetitive companies withdraw from the market in a stable manner, SASAC promised to offer support for the employers in those companies.Zhou Fangsheng, an expert on SOE issues, said it is good news for the uncompetitive SOEs to be merged into the new company with their debt relieved.But it is still quite explorative, he added.The new company is the third oversight asset management company by SASAC, besides the China Chengtong Group and the State Development & Investment Corp.Shao Ning told Xinhua that the previous two companies have their own business scope, besides dealing with non-performing assets. But the new company will only focus on asset management.Profits of China' s SOEs rose by 43 percent year on year to hit 1.81 trillion yuan (271.92 billion U.S. dollars) in the first 11 months, according to the figures released by the Ministry of Finance on Dec. 17.However, profits were concentrated in a small number of companies, such as oil producers and refiners, telecom operators and power companies which enjoy monopolies and easy bank loans.Companies in the traditional sectors, such as textiles and light industries, reported meager profits.A stronger presence of the monopolistic SOEs aroused complaints by the nation's private businesses, which had no easy access to bank credit but provided more than 80 percent of the job opportunities in the nation.China's SOEs include SOEs directly controlled by the central government and SOEs supervised by local governments, but excludes state-owned financial enterprises.

SINGAPORE, Nov. 14 (Xinhua) -- In celebration of the 20th anniversary of diplomatic relations between Singapore and China, a dedicated marker to commemorate late Chinese leader Deng Xiaoping was unveiled here on Sunday.The marker, which sits beside the Singapore River, was unveiled by Singapore Minister Mentor Lee Kuan Yew and Chinese Vice President Xi Jinping, who is here on a three-day official visit.The marker comprises a text panel and a bronze bust of Deng commissioned by the Chinese Embassy to Singapore. It also features Deng's signature etched below the bust, and a famous quote by Deng, "Development is of overriding importance," inscribed at the back of the marker.Chinese Vice President Xi Jinping (L) and Minister Mentor of Singapore Lee Kuan Yew attend the unveiling ceremony of the commemorative marker of late Chinese leader Deng Xiaoping beside the Singapore River, in Singapore, Nov. 14, 2010. The marker sets in stone the accomplishments of this visionary - detailing Deng's early life, political activities, his visit to Singapore in 1978, and his role in Singapore-China relations.Deng was the first senior Chinese leader to visit Singapore. His visit in 1978 spurred subsequent interactions in various fields between the two countries.

BEIJING, Dec. 29 (Xinhua) -- China's gross domestic product (GDP) is predicted to grow by around 9.5 percent in 2011, 0.5 percentage points lower compared to the growth rate expected for this year, said a report issued Wednesday by the Bank of China (BOC).The report by the BOC, China's third largest lender, was based on the bank's projections of weak overseas demand, tighter monetary policy, and the government's planned economic restructuring for 2011, the first year of China's 12th five-year plan.The Chinese government announced in early December that it will switch its monetary policy stance from relatively loose to prudent next year to tackle rising inflation and keep economic growth at a sustainable pace.The report also said government policies this year to curb soaring property prices in some major cities, and the country's efforts to improve energy efficiency had slowed the economy with the GDP dropping to 9.6 percent in the third quarter, down from the second quarter's 10.3 percent and 11.9 percent in the first quarter.The report also forecast inflation to rise 4 percent in 2011, compared to the 3.3-percent rise expected for 2010. It said that in the second half of the year, the producer price index (PPI) for China's industrial products had kept rising along with the consumer price index (CPI), adding more inflationary pressure for the future.The Chinese government set a 3-percent target for inflation this year, but looks unachieveable after the index rose 3.2 percent during the first 11 months. Pushed up mainly by rising food prices, the index soared 5.1 percent in November to a 28-month high.The report also predicted new lending next year would be 7 trillion yuan (1.06 trillion U.S. dollars), just slightly down from the 7.5 trillion yuan target set by the government for 2010.Growth rates of retail sales of consumer goods and industrial value-added output would see a slight drop from year 2010, while imports would likely grow by 18 percent, 3 percentage points higher than exports.As inflation triggers wider public concerns, expectations for more hikes in interest rates are strengthening. The report forecast the People's Bank of China, the central bank, would likely hike rates for up to three times next year, mostly during the first half of the year.The central bank on Sunday raised the benchmark one-year lending and deposit rates by 25 basis points for the second time in just over two months. It had also set higher commercial lenders' reserve requirement ratio six times this year in a move to tighten liquidity amid climbing inflation.