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WASHINGTON, Feb. 27 (Xinhua) -- China remains the largest foreign holder of U.S. Treasury securities as at the end of December, the U.S. media reported on Saturday.The report quoted the new government data as saying that China held 894.8 billion dollars in Treasury securities at the end of December, more than 755 billion dollars that had been previously estimated.But the new report also showed China trimmed its holdings of U. S. debt by 34.2 billion U.S. dollars in December.The U.S. Treasury reported on Feb. 16 that Japan surpassed China as the largest holder of U.S. Treasury securities in December. But the new estimate said Japan, now back in second place, held 765.7 billion dollars in December.Japan had been the largest holder of U.S. Treasury securities until China gained that distinction in 2008."Purchase of Treasuries by China would reflect only purchases by an entity in China from an entity based in the U.S.," Stone & McCarthy Research Associates said in a recent client note."The Data would not pick up purchases done on behalf of Chinese investors by dealers in the U.K or Hong Kong, for example, nor would it pick up purchases of Treasuries by investors in China from investors based outside of the U.S.," it added.China defended its move to reduce its holdings of U.S. Treasury securities, saying the United States should take steps to promote confidence in U.S. dollar .Last week, when responding to questions on China's sale of U.S. Treasury securities in December, China's Foreign Ministry spokesman Qin Gang said the issue should be viewed from two perspectives.He said on the one hand, China always followed the principle of "ensuring safety, liquidity and good value" in managing its foreign exchange reserve. And when it came to how much and when China buys the bonds, the decision should be made taking into account the market and China's need, so as to realize rational deployment of China's foreign exchange property, he said.And on the other hand, the United States should take concrete steps to beef up the international market's confidence in the U.S. dollar, Qin said.The way to view the issue was similar to doing business, he said.

LIMBE, Cameroon, March 17 (Xinhua) -- The released Chinese nationals who were kidnapped in Cameroon days ago arrived in Cameroon's port city Limbe late on Wednesday and the seven are all in good condition.The Chinese nationals left the Bakassi peninsula by boat where they were released. Limbe is the port city of Cameroon in the Atlantic Ocean.The Seven Chinese nationals on board two fishing boats owned by China's Dalian Beihai Fishing Company were abducted early Friday morning by gunmen off the Bakassi peninsula.An "Africa Marine Commando", which had been unknown, claimed responsibility for the kidnapping. Released Chinese nationals call their families after arriving in Cameroon's port city Limbe on March 17, 2010. The released Chinese nationals who were kidnapped off Cameroon's Bakassi peninsula days ago arrived in Cameroon's port city Limbe late on Wednesday and the seven are all in good conditionThe two fishing vessels returned to the port of Limbe hours later with two sailors on board slightly injured.Chinese Ambassador Xue Jinwei told Xinhua that the Chinese and Cameroonian authorities had worked hard to save them. Negotiations went on for days during which the captives had no risk of lives and were provided with water and food.The Bakassi peninsula, which has an area of 1,000 square km and a great potential of oil and gas, has been a hotbed for banditry in the Gulf of Guinea. It was handed over from Nigeria to Cameroon in August 2008 under a ruling by the International Court of Justice in the Hague.A group of gunmen attacked an oil vessel working in an offshore oilfield for the French petroleum Total in October 2008. Ten of the 15 crew members on board the vessel "Bourbon Sagitta" was kidnapped near the Bakassi peninsula. The kidnappers threatened to kill the hostages before releasing them 12 days later.Three Chinese workers were abducted by unidentified kidnappers in May 2008 in Calabar, the capital city of Nigeria's southern Cross River State, which is adjacent to Cameroon.The Cameroonian army deployed a Rapid Response Unit (RRU/ DELTA) in April 2009 to beef up security in the Bakassi peninsula.In October 2009, RRU/ DELTA killed four pirates and wounded four others at the Idabato sea opening in the Bakassi peninsula.

BEIJING, March 5 (Xinhua) -- China budgets 1.05 trillion yuan (154.4 billion U.S. dollars) of fiscal deficit this year to support economic growth as government revenue will fall significantly short of expenditures, says a government work report to be delivered by Premier Wen Jiabao at the parliament's annual session Friday.The government vowed to keep the debt at "appropriate" level. The total deficit consists of 850 billion yuan in central government deficit and 200 billion yuan in local government bonds, which will be included in local government budgets, reads the report, which was distributed to the media before the opening of the Third Session of the 11th National People' s Congress (NPC). The Third Session of the 11th National People's Congress (NPC) opens at the Great Hall of the People in Beijing, capital of China, March 5, 2010The government will continue to implement the policy of structural tax reductions to expand domestic demand and promote economic restructuring.It will also keep running the package plan for dealing with the global financial crisis, and increase spending to complete work on projects now under construction, improve people's well-being and maintain stability.According to calculation of the Ministry of Finance, the planned budget will take up about 2.8 percent of the GDP.China's fiscal deficit hit 950 billion yuan last year, a record high in six years, but still less than 3 percent of GDP.

BEIJING, March 1 (Xinhua) -- A senior leader of the Communist Party of China (CPC) on Monday called on film industry workers to accelerate its development with innovation and new and high technologies.Li Changchun, member of the Standing Committee of the Political Bureau of the CPC Central Committee, made the call in an instruction for a video conference on the film industry.Li said the film sector had been thriving and the competitiveness of homegrown films had been enhanced in recent years.He called for high quality films that sold in cinemas to increase the influence of Chinese culture.State Councilor Liu Yandong, who chaired Monday's meeting, stressed non-public film companies should be supported and governments at all levels should facilitate the development of the industry.

BEIJING, March 14 (Xinhua) -- China's Ministry of Information and Technology (MIIT) issued a guideline Sunday, urging the nation's auto producers to establish quality accountability mechanism to improve quality management.The MIIT warned auto production enterprises against blind expansion, urging them to focus more on technology upgrade and improve product quality by using "new technology, new technics, new equipment and new materials."Auto producers were also asked to strengthen after-sale service, setting up an accountability mechanism to timely recall and deal with the faulty products.As China's auto industry is at a stage of rapid development, it should take effective measures to ensure product quality, so as to prompt the industry to develop in a sound and healthy way, said an official with the MIIT.Data from the China Association of Automobile Manufacturers showed that new auto sales rose 46.15 percent year on year to 13.64 million units in 2009 in China, helping the country overtake the United States as the world's largest auto market.

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