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BEIJING, April 2 -- China Everbright Bank, Everbright Group's banking unit, will go public in Shanghai in July or August, Everbright Group said Tuesday.     The bank will issue more than 820 million A shares, accounting for 10 percent of its enlarged share capital, said Everbright Group, a State-owned financial conglomerate.    The bank may float shares on the Hong Kong stock exchange if its Shanghai IPO is successfully completed before the 2008 Olympic Games.     "But the bank has no timetable for a Hong Kong listing yet," said its vice-president Xie Zhichun. "And the Shanghai listing plan will be further discussed by and is subject to approval from the board and shareholders."     Xie added: "The board may enlarge the A-share issue further to more than 10 percent of the enlarged share capital as we don't know whether we can realize a Hong Kong listing or not, but we expect to finish the Shanghai listing before the Olympic Games."     The bank has postponed inviting strategic investors as concerns are rising that the subprime crisis will worsen the finances of financial institutions, the bank said.     "We will restart the work after the strategic investors release their third-quarter report," said Li Jie, another vice-president of the bank.     The bank is a target for foreign investors given its low share price and large scale. It said earlier it will reserve a 20 percent stake for foreign strategic investors and would like to pick investors that can hold the bank's stakes for a long time.     The bank disclosed that Industrial Bank from France showed interest to invest in it, but the French banking scandal hindered talks.     It will restart inviting strategic investors after its Shanghai listing, the bank said.     The bank is 24.16-percent-owned by China Everbright Group and 21.4-percent-owned by Hong Kong-listed China Everbright Ltd.

hina was 249 million U.S. dollars, increasing by 218.4 percent from 2004. China's export to and import from Laos were respectively 164million U.S. dollars and 85 million U.S. dollars, rising by 162.4 percent and 653.8 percent from 2004.     Till the end of 2007, Laos had accumulatively invested 17 million U.S. dollars in China, and the latter's non-financial direct investment accumulatively reached 146 million U.S. dollars.     While China and Laos maintained a good momentum of development on political relations, they also expanded the range of trade and economic cooperation. The cooperation with governments, regional bodies, non-governmental organizations and private sectors have been intensified and deepened, Bouasone said.     The Third GMS Summit, with a theme of "Enhancing Competitiveness Through Greater Connectivity", aims to sustain and deepen economic cooperation and integration efforts among the GMS countries in order to better meet development challenges and realize the common vision of an integrated, harmonious and prosperous subregion.

BEIJING, July 4 (Xinhua) -- China's State Council published on Friday guidelines on post-quake reconstruction, emphasizing house repair and building work.     The State Council, China's Cabinet, stressed priority for repairing and building houses for people whose homes were destroyed during the May 12 tremor.     "Check for repairable buildings and fix them as soon as possible; scientifically choose sites, economically use land and set down reasonable quake-resistant levels for building new houses," the guidelines said.     Areas suitable for living must be marked off based on scientific standards and evaluations on geology and natural resources. Meanwhile, the government will see to the reasonable distribution regarding population, industry and productivity, according to the guidelines. A local man builds house at ruins at Yuzixi Village, Yingxiu Township, Wenchuan County in Southwest China's Sichuan Province, June 9, 2008. Residents in quake-hit Yingxiu Township are now reconstructing their hometown    The reconstruction of buildings should take local advice into account, and be based on governmental subsidies, social support and local resources.     All the measures were aimed to let quake-hit people live in "safe and comfortable houses as soon as possible", said the guidelines.     Resources should be optimized to upgrade quake resistance standards and improve the quality of construction, the guidelines said.     Priority should be given to the reconstruction of public facilities, including schools and hospitals, and these buildings should be the "safest, most solid and trustworthy".     The guidelines required high schools and vocational schools be located in county seats, middle school in townships while primary school sites be relatively concentrated.     The guidelines also underscored the importance of protecting the ethnic and cultural relics affected by the major quake.     Earthquake sites and memorial halls would be erected, and the reconstruction of government buildings should be "frugal" and "practical."     The restoration of infrastructure should be adjusted to local conditions and planning, the guidelines added.

BEIJING, April 9 (Xinhua) -- Chinese President Hu Jintao inspected the southern province of Hainan before attending the annual meeting of the Boao Forum for Asia (BFA) opening on Saturday.     The forum, April 11-13, is a platform for high-level interaction between leaders from Asia and the world. Boao has been the permanent venue of the annual regional economic forum since 2001.     Hu, also general secretary of the Communist Party of China Central Committee, discussed reform and development issues with local officials and visited with a public made up of various ethnic groups during the inspection tour that started on Monday.     The island province marks the 20th anniversary of the founding of the Hainan special economic zone (SEZ) later this month. Hu visited an exhibition marking the anniversary at the provincial museum.     "Over the past two decades, Hainan's economic and social development has made a remarkable progress. The appearance of cities and villages has undergone profound changes. Practice shows the policy of setting up SEZ in Hainan is completely correct," said the president. Chinese President Hu Jintao (2nd R Front) talks with a farmer in a paddy field at Binglang Village of Fenghuang Town in Sanya, a city in south China's Hainan Province, April 9, 2008. President Hu made an inspection tour in Hainan Province on April 7-9    Founded in 1988, Hainan is one of the five SEZs established since 1980. The others are Shenzhen, Zhuhai, Shantou and Xiamen, all in southern China.     Hu showed his respect for the island's model workers, farmers, teachers and police who had made great contribution to Hainan's development. "You have done extraordinarily at ordinary positions," Hu told them.     The president also revisited the state-level Yangpu Economic Zone in the northwest of the island. Twelve years before, he had been to the zone.     Hu was very happy to learn that last year Yangpu's economy increased by 60 percent and its import and export value was up by 213 percent.     The president said he hoped Hainan to deepen reform, further implement the Scientific Outlook on Development and play a leading role in reform and opening up.     He later inspected a Sinopec oil refining company in Hainan and visited a 300,000-ton crude oil dock.     Leaving the oil-handling terminal, Hu went to the Yangpu Harbor, which boasted the best natural conditions among all deep water ports of the island. The throughput of the harbor, launched in 1990, reached 4.27 million tons in 2007.     Hu encouraged officials and workers to seize the regional economic cooperation opportunity. Chinese President Hu Jintao (2nd L) learns cowpea's growth and sale from farmer Huang Zhengguang (1st R) of the Li ethnic group at Shandao Village of Jianfeng Town in Ledong Li Autonomous County, south China's Hainan Province, April 8, 2008. President Hu made an inspection tour in Hainan Province on April 7-9    On his inspection tour, the president also went among farmers and into Li ethnic villages, learning their difficulties in farming and medical services.     Hu showed great concerns over the island's environment, stressing Hainan must promote the conservation culture, save energy resources and protect ecosystems.     "The education on environmental protection should be thoroughly conducted and ecological protection measures should be strictly implemented so as to effectively preserve the island's nature-bestowed original ecological wonder," Hu said.     Hu also visited a navy troop in Sanya City and examined their armaments. He also asked local officials to apply a cautious, industrious and clean work style.

NEW YORK, Sept. 23 (Xinhua) -- Chinese Premier Wen Jiabao said Tuesday that China and the United States are not rivals but partners in cooperation and they should work together to further strengthen bilateral relations.     In a speech delivered at a luncheon co-hosted by the National Committee on U.S.-China Relations and other friendly American organizations, Wen said China-U.S. relations have made significant progress since his first official visit to the United States in 2003.     High-level contacts between the two sides are more frequent than ever before, said Wen, who arrived here Tuesday to attend meetings at the headquarters of the United Nations.     "There are now over 60 dialogue and consultative mechanisms between our two countries. The Strategic Economic Dialogue and the Strategic Dialogue have in particular played an important part in increasing strategic mutual trust between the two sides."     On economic cooperation, Wen noted that China and the United States are now each other's second largest trading partners.     Dialogue and cooperation have also extended to a number of new areas, such as energy resources and climate change, he added.     In addition, China and the United States have maintained communication and coordination on global security issues such as counter-terrorism and non-proliferation and on regional and international hot-spot issues, the Chinese premier said.     The ever-deepening friendship between the two peoples is an integral part of growing relations between the two countries, Wen said.     He also expressed sincere appreciation to the American people from all walks of life for their abiding commitment to China-U.S. friendship and extended heartfelt gratitude to the U.S. government and people for their strong support for China's earthquake relief and efforts in hosting the 2008 Beijing Olympic Games.     As to the China-U.S. relations after the upcoming U.S. presidential election, Wen said China hopes to maintain and develop the constructive and cooperative relations with the United States whoever becomes the next U.S. president. Chinese Premier Wen Jiabao (R) shakes hands with former U.S. secretary of state Henry Kissinger in New York, the United States, Sept. 23, 2008. "We are confident that China-U.S. relations will continue to move forward, as the trend of history will not turn back," he added.     China and the United Stated have never enjoyed so extensive common interests as they do today and have worked together to uphold world peace and stability and tackle growing economic and financial challenges, Wen said.     However, "due to differences in social system development level, history and culture, China and the United States may not see eye to eye on certain issues," he said, adding that as long as the two sides engage in dialogue and consultation on the basis of equality and mutual respect, they will be able to gradually dispel misgivings and enhance mutual trust.     He said that both the Chinese people and the American people are open, innovative, and eager to learn.     "Two countries that appreciate each other and learn from each other can live together in amity and achieve common progress."     "China's development will not harm anyone, nor will it be a threat to anyone. China has taken an active part in the building of the international system and will not do anything to undermine it. China is a big responsible country," Wen reiterated.     Touching upon the Taiwan question, Wen said, "The question of Taiwan has always been the most sensitive question at the core of China-U.S. relations. History has shown that the smooth development of China-U.S. relations depends, to a great extent, on the proper handling of the Taiwan question.     "We hope the U.S. side will stick to its commitment, adhere to the one China principle and the three China-U.S. joint communiques, and oppose Taiwan independence," he emphasized.     "We hope the United States will support improvement of relations and the realization of common development between the two sides of the Taiwan Strait. This serves the interests of people on both sides of the Taiwan Strait and is conducive to China-U.S. relations and peace in the world."     Wen also took questions after delivering the speech. When asked about China's food safety, he said that the Chinese government has paid great attention to the country's recent infant formula milk power contamination incident and adopted a series of resolute measures to deal with it.     China will take vigorous measures to ensure the quality of products and food safety, Wen said, adding that China's exports will meet both international standards and requirements of importers and China is willing to enhance cooperation with the U.S. in this regard.     U.S. Secretary of Labor Elaine L. Chao, former Secretary of State Henry Kissinger, and Chair of the Board of Directors of the National Committee on U.S.-China Relations Carla A. Hills also made speeches during the luncheon.     They shared the view that enhancing China-U.S. cooperation is vital to the maintaining of world peace and stability and the resolution of many issues facing the world, and the U.S. should continue to maintain engagements and cooperation with China.     During his three-day stay in New York, Wen will attend a high-level UN meeting for the Millennium Development Goals (MDGs) Thursday and the general debate of the 63rd UN General Assembly Wednesday. He will address the two meetings to further outline China's development objectives.

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