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JAKARTA, Nov. 9 (Xinhua) -- China and Indonesia on Tuesday pledged to step up legislative cooperation on top Chinese legislator's visit to the biggest Southeast Asian country."Thank to their crucial role in their own country's political life, the National People's Congress (NPC) of China and Regional Representative Council (RRC) of Indonesia should carry out friendly exchanges at all levels and increase experience sharing on ethnic and religious policy and seeking region's balanced development," Chairman of the NPC Standing Committee Wu Bangguo said in a meeting with RRC Speaker Irman Gusman Tuesday.Irman underscored RRC's commitment to developing sound ties with China, saying it would seek closer bonds with the NPC, promote experience sharing on economy, politics and people-to- people exchanges, draw on China's experience on balanced development.On broader China-Indonesia ties, Wu reviewed the smooth growth of bilateral ties, particularly since the two countries upgraded their relations to strategic partnership in 2005.Wu Bangguo (L), chairman of the Standing Committee of the National People's Congress of China, the country's top legislature, meets with Irman Gusman, chairman of the House of Regional Representatives of Indonesia in Jakarta, Indonesia, Nov. 9, 2010.This is Wu's first visit to Indonesia, which coincided with the 60th anniversary of China-Indonesia diplomatic ties.As developing countries, China and Indonesia share common tasks of growing economy and improving livelihood, Wu said.Wu said China would like to work with Indonesia to deepen strategic cooperation, address challenges and usher in an new era of bilateral ties.Characterizing bilateral relations as "comprehensive and strategic partnership," Irman said Wu's visit to Indonesia was historic and would promote all-round substantive cooperation.During Wu's stay in Jakarta, China announced 10-million-yuan humanitarian aid in cash to Indonesia as earthquake, tsunami and volcanic eruptions wrecked serious havoc on the country.Later Tuesday, a grand reception was held in honor of top Chinese legislator. Around 1,000 Indonesia officials, business entrepreneurs and others attended the reception.In his brief address at the reception, Wu called on Indonesian people of all circles to contribute their wisdom and commitment to China-Indonesia friendly ties.Indonesia was the second leg of Wu's three-nation tour to Southeast Asia, which also included Cambodia and Thailand.Wu will leave Jakarta for Bangkok on Wednesday.

BEIJING, Dec.23 (Xinhua) -- China is tightening regulation on foreign investment in the real estate sector to crack down on speculation, according to a statement from the Ministry of Commerce(MOC) on Thursday.The ministry urges local authorities to increase checks and supervision on property investment that involved foreign investors and strengthen risk controls on the sector, said the statement posted on the MOC web site.According to the statement, foreign-funded developers are not allowed to make profits through buying and reselling real estate projects, which will be strictly monitored by the MOC along with the Ministry of Land and Resources and the State Administration of Foreign Exchange.The ministry also required local authorities to tighten scrutiny over foreign-funded investment companies and not to allow those companies to enter the real estate businesses, while closely examining the exact amount of foreign funds used in new real estate projects.Foreign direct investment(FDI) into China's property sector jumped 48 percent to 20.1 billion U.S. dollars in the first eleven months of this year, compared to a 17.73 percent growth in the total FDI in the same period, according to earlier MOC data.China introduced a group of measures to crack down on property market speculation and rein in skyrocketing home prices since the beginning of this year, including prohibiting the issuance of mortgage loans for third home purchases and raising down-payments.The government is also guarding against possible "hot money" inflows that might complicate China's policy to fight inflation.Property prices in 70 major Chinese cities rose 0.3 percent in November, month on month, and 7.7 percent year on year, according to the National Bureau of Statistics.

BEIJING, Nov. 10 (Xinhua) -- China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday.The People' s Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio (RRR) for Chinese financial institutions that accept deposits by 50 basis points from Nov. 16, which was estimated to freeze more than 300 billion yuan (45.1 billion U.S. dollars).The order came on the eve of Thursday's release of China' s October consumer price index (CPI), which is projected, by some economists, to reach 4 percent.The RRR for the four big state-owned banks - the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Agricultural Bank of China - will stand at 18 percent once the rise takes effect.Further, Wednesday's move will raise the deposit reserve ratio for other large financial institutions to 17.5 percent and that for small-and medium-sized financial institutions to 15.5 percent.The adjustment is the fourth RRR increase the central bank has ordered for Chinese banks this year, and the first time it has done so since it hiked interest rates by 0.25 percentage points last month.Chinese experts believe combined concerns, ranging from the looming hot money inflows caused by the United State quantitative easing to the growing inflation risks and soaring assets bubbles, have caused the central bank to raise the RRR to rein in liquidity."The central bank announced interest rates hikes and the RRR rise within one month, as the U.S. 600 billion-US-dollar quantitative easing is likely to send more speculative capital flowing to the emerging markets, and domestic commodities prices continue to increase, " senior economist with the Asian Development Bank, Zhuang Jian said, adding that the RRR increase will trim the banks' credit capital, which will help curb market speculation inflows and stabilize commodities prices.China's central bank, on Oct. 20, announced a rise of its benchmark one-year lending and deposit rate by 0.25 percentage points, the first interest rates hike in three years, as the nation's CPI hit a 23-month high to 3.6 percent in September.October's CPI is due to be announced on Thursday, while economists anticipate the October year-on-year inflation is likely to rise to 4.1 percent.Further, prices of China' s edible farm produce have witnessed consecutive increases since mid-October, as prices of 18 types of vegetables in 36 large and medium-sized cities rose by 4.9 percent during the week that ended Nov. 7, according to data released Wednesday by the Ministry of Commerce.Zhang Ping, head of the National Development and Reform Commission, said Tuesday that the nation's CPI is expected to exceed the government' s annual target of 3 percent.Also, the nation's real estate prices continued the upward trend in October, though at a slower pace, with property prices in 70 major Chinese cities increasing by 8.6 percent year on year in October, down from the 9.1-percent increase in September, the National Bureau of Statistics showed Wednesday.Li Huaiding, analyst with the Guoxin Securities Co., said Wednesday's rise would contribute to scaling back liquidity, but pressures still exist in the upcoming months, and the central bank may again increase interest rates before the end of the year.Additionally, the central bank said in a report issued on Nov.2 that it would gradually normalize the monetary policy from its counter-crisis mode and tighten control over liquidity to maintain moderate credit growth in the coming months this year.

BEIJING, Nov. 28 (Xinhua) -- China on Sunday proposed emergency consultations among the heads of delegation to the Six-Party Talks next month as tensions rise on the Korean Peninsula."The Chinese side, after careful deliberation, proposes emergency consultations among the heads of delegation to the Six-Party Talks in early December in Beijing to exchange views on major issues of concern to the parties at present," said Wu Dawei, Chinese special representative for the Korean Peninsula affairs.It is China's latest move with regard to tensions on the peninsula, following the exchange of artillery fire Tuesday between the Republic of Korea (ROK) and the Democratic People's Republic of Korea (DPRK).The ROK and the United States on Sunday launched a four-day joint naval drill in waters west of the divided Korean Peninsula, the U.S. aircraft carrier USS George Washington joined the drill.A statement from the U.S. Forces Korea (USFK) said it "demonstrates the strength" of the alliance between Seoul and Washington and their "commitment to regional stability through deterrence."But the DPRK on Sunday blasted the ROK-U.S. joint exercises, saying they were bringing war to the Korean Peninsula.China has repeatedly called for calm and restraint, urging the resumption of the stalled Six-Party Talks among China, the DPRK, the United States, the ROK, Russia and Japan.Wu told a press conference the consultations would aim to properly address the situation on the Korean Peninsula and were in accordance with the Joint Statement of the Six-Party Talks issued on Sept. 19, 2005.