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BEIJING, Oct. 26 -- Shanghai has applied to regulators to launch a free exchange between the yuan and the New Taiwan dollar to enhance financial cooperation, the head of the Shanghai Financial Service Office said Sunday.     "With growing trade between Shanghai and Taiwan in recent years, we hope that a free exchange between the yuan and the New Taiwan dollar can be conducted in Shanghai as a trial," said Fang Xinghai at the 6th China International Finance Forum.     "We have applied to the regulators and expect it will be approved soon," Fang said at the two-day forum which ended Sunday.     Shanghai has recently launched a cross-border currency clearing system and Fang expects that it will be extended to Taiwan soon.     By the end of April, Taiwan had invested 5 billion U.S. dollars in more than 6,000 projects in Shanghai, and trade between the two sides totaled 13.68 billion dollars in the first eight months of this year.     Although the two sides must overcome some barriers in financial cooperation, Fang said they can explore possibilities in innovative products, such as exchange-traded funds that enable investors to buy or sell shares in an entire benchmark portfolio.     "The Shanghai Stock Exchange is making efforts to introduce ETFs based on overseas equity indices (and) we can also expect Taiwan and the mainland to introduce ETFs based on each other's index," Fang said.     The two sides can also cooperate in sectors that are not directly supervised by the central government, such as venture capital.     "Taiwan is very successful in the venture capital sector, while the Chinese mainland is still in the first stage. Policies have now been eased so that Taiwan VC firms can set up branches on the mainland," Fang noted.     The Chinese mainland and Taiwan in April sealed a cooperative financial regulatory mechanism.

SHARM EL-SHEIKH, Egypt, Nov. 8 (Xinhua) -- The Fourth Ministerial Conference of the China-Africa Cooperation Forum (FOCAC) opened in the Egyptian Red Sea resort of Sharm el-Sheikh on Sunday.     Chinese Premier Wen Jiabao, Egyptian President Hosni Mubarak and African heads of state or government attended the opening ceremony of the two-day conference, with the theme of "deepening the new type of China-Africa strategic partnership for sustainable development." The fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) opens in the Egyptian resort of Sharm el-Sheikh on Nov. 8, 2009Mubarak, who chaired the opening ceremony, said in a speech that FOCAC is to establish a new stage of relations between China and Africa and a partnership that Africa and China are looking forward to for peace, security and development.     Egypt, which was the first African country to recognize the People's Republic of China more than half a century ago, supports the one-China policy and also supports FOCAC from the first day of its establishment, said Mubarak.     This reflects the solid relations between the peoples of Africa and China throughout the history and is an effective model of fruitful South-South cooperation, he added. Chinese Premier Wen Jiabao attends the opening ceremony of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009Mubarak urged efforts to deepen cooperation and sustainable development through FOCAC, calling for promoting cooperation between China and Africa on the bilateral and continental levels to support the African efforts to achieve peace and security as the main pillars of comprehensive development.     The Chinese premier announced eight new measures the Chinese government will take to strengthen China-Africa cooperation in the next three years in his speech. Egyptian President Hosni Mubarak attends the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian Red Sea resort of Sharm El-Sheikh on November 8, 2009. The meeting kicked off here Sunday morning"Chinese people cherish the sincere friendship towards the African people, and China's support for Africa's development is concrete and real," said the premier.     "Whatever change may take place in the world, our policy of supporting Africa's economic and social development will not change," Wen said.     According to the eight new measures, China will help Africa build up financing capacity, and will provide 10 billion U.S. dollars in concessional loans to African countries and support Chinese financial institutions in setting up a special loan of 1 billion dollars for small- and medium-sized African businesses.     For the heavily indebted countries and least developed countries in Africa having diplomatic relations with China, China would cancel their debts associated with interest-free government loans due to mature by the end of 2009, said Wen.     The measures are also committed to building clean energy projects in Africa, carrying out joint scientific and technological demonstration projects with Africa, training agricultural technology personnel for Africa and offering assistance on medical care, health, human resources development and education.     The eight new measures, which succeeded eight measures put forward by Chinese President Hu Jintao at the landmark Beijing Summit of FOCAC in 2006, stressed more on improving the African people's living standard, Wen said at a press conference after the opening ceremony.     Sudanese President Omar al-Bashir expressed his gratitude towards the Chinese government for its sincere efforts to develop its relations with African countries over the past years and to boost development in Africa.     He said China has fulfilled its commitments made at the 2006 Beijing Summit to assist Africa in the fields of energy, roads and infrastructure, as well as in the critical area of fighting against serious diseases.     Al-Bashir said great achievements have been accomplished by China and Africa under a strategic partnership within the framework of FOCAC, adding that more hard work and commitments are required to carry out the strategic plans, especially in the areas of agriculture, food security and infrastructure.     Zimbabwean President Robert Mugabe praised the "strategic cooperation" between China and Africa, saying it represented the culmination of the friendship between the two sides.     According to Mugabe, a number of countries in the Common Market for Eastern and Southern Africa region have achieved significant progress in their trade exchanges with China, mainly due to the Chinese measures to increase the number of exported items receiving duty-free entry into their markets.     Central African Republic President Francois Bozize said both China and Africa faced great challenges, including natural disasters and climate changes, so both sides should continue working together to deepen their friendship in all fields.     Chinese Foreign Minister Yang Jiechi presented to the conference a report on the implementation of the outcomes of the Beijing Summit.     The main agenda of the conference is to review the implementation of the follow-up activities of the FOCAC Beijing Summit and the third ministerial conference and explore new initiatives and measures on Sino-African cooperation in priority areas such as human resources development, agriculture, infrastructure development, investment and trade.     The FOCAC, a collective consultation and dialogue mechanism between China and African countries launched in 2000, is the first of its kind in the history of Sino-African relationship.     It is a major and future-oriented move taken by both sides in the context of South-South cooperation to seek common development in the new situation.     The previous three ministerial conferences were held in Beijing, Addis Ababa and Beijing respectively.

BEIJING, Dec. 28 (Xinhua) -- Chinese Premier Wen Jiabao Monday asked auditors to keep a close eye on public investment projects to help avoid embezzlement and waste of public funds.     Jerry-built projects and vanity projects should be strictly forbidden with the help of closer follow-up scrutiny of public funds, said the premier in a meeting with participants at a national auditing conference.     The National Audit Office (NAO) statistics showed that altogether 234.7 billion yuan (34.51 billion U.S. dollars) of public funds have been misappropriated and 16.3 billion yuan wasted during the first 11 months this year. Chinese Premier Wen Jiabao (C, front), also a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, shakes hands with one of participants of the National Audit Work Conference and the Commendatory Convention for Outstanding Audit Units and Auditors, at the Great Hall of the People in Beijing, Dec. 28, 2009    Wen urged auditors to strengthen budget enforcement auditing in order to guarantee an open and transparent fiscal budget for governments at all levels.     The premier said that auditing should shoulder the responsibility of safeguarding the country's economic security by detecting possible risks in economic operations. As for now, special attention should be paid to fiscal and financial risks, he said.     He also called for giving full play to the role of auditing in the fight against corruption and severely cracking down on corruption.     China carried out audit among more than 20,000 government officials including provincial level cadres and bosses of large state-owned enterprises this year. Cases involving 67 senior officials and 164 others were handed over to judicial authorities, said the NAO.

BEIJING, Dec. 19 (Xinhua) -- Chinese Premier Wen Jiabao brought hope and confidence to the world in its fight against climate change by attending the summit of the UN Climate Change Conference in Copenhagen, Foreign Minister Yang Jiechi said Saturday.Yang, who had accompanied Wen during his visit on Thursday and Friday, said climate change profoundly affected mankind's existence and development, imposed a critical challenge to the world, and should be tackled by all countries jointly.     The Copenhagen conference was an important opportunity to boost international cooperation in combating climate change, Yang said.     Under the joint efforts of all parties, the conference yielded significant and positive fruits in three aspects, he said.     First, it firmly upheld the principle of "common but differentiated responsibilities" set by the UN Framework Convention on Climate Change and the Kyoto Protocol.     Second, it made a solid step forward in promoting developed countries' binding emissions cuts and developing countries' voluntary mitigation actions.     Third, it produced important consensus on the key issues of long-term global emissions cut targets, funding and technology support to developing countries, and transparency.     Yang said Premier Wen's attendance at the summit showed the Chinese government took a highly responsible attitude toward the Chinese people, all peoples in the world and mankind's future.     Over the last two days, Wen delivered an important speech to the summit, kept close contact with many parties, communicated and coordinated with them, overcame various difficulties, and guided action according to situation. He adopted a principled but flexible attitude, broke his back to move the climate talks forward on the right track, and played a pivotal role in the climate talks.     Wen's attendance contributed to the global fight against climate change mainly in three fields, Yang said.     FIRST, ABIDING BY PRINCIPLES, MAINTAINING A FOUNDATION FOR COOPERATION     Yang said developing and developed countries were very different in their historical emissions responsibilities and current emissions levels, and in their basic national characteristics and development stages, therefore they should shoulder different responsibilities and obligations in fighting climate change.     According to Yang, Wen told the conference the international community must adhere to the following four principles to combat climate change.     First, maintaining the consistency of outcomes:     The outcome of this conference must stick to rather than obscure the basic principles enshrined in the Convention and the Protocol. It must follow rather than deviate from the mandate of the "Bali Roadmap." It should lock up rather than deny the consensus and progress already achieved in the negotiations.     Second, upholding the fairness of rules:     The principle of "common but differentiated responsibilities" represents the core and bedrock of international cooperation on climate change and it must never be compromised. Developed countries must take the lead in making deep quantified emission cuts and provide financial and technological support to developing countries. Developing countries should, with the financial and technological support of developed countries, do what they can to mitigate greenhouse gas emissions and adapt to climate change in the light of their national conditions.     Third, paying attention to the practicality of the targets:     In tackling climate change, the world needed to take a long-term perspective, but more importantly, focus on the present. It was important to focus on achieving near-term and mid-term reduction targets, honoring the commitments already made and taking real action. One action was more useful than a dozen programs. The conference should give people hope by taking credible actions.     Fourth, ensure the effectiveness of institutions and mechanisms:     The international community should make concrete and effective institutional arrangements under the Convention to have developed countries honor their commitments, provide sustained and sufficient financial support to developing countries, speed up the transfer of climate-friendly technologies and effectively help developing countries strengthen their capacity in combating climate change.     Yang said Wen's propositions reflected developing countries' common stance. The propositions were reasonable and lawful, based on the present, faced the future, addressed all parties' interests, pointed out the direction for the climate conference when it was at the crossroads, effectively kept and boosted the talks, and won wide support and praise.

BEIJING, Jan. 9 (Xinhua) -- China on Saturday again expressed strong dissatisfaction and firm opposition to the U.S. arms sales to Taiwan, urging the U.S. to respect China's core interests and withdraw related arms sales plan.     "The U.S. arms sales to Taiwan infringe upon China's security interest as well as peace and stability across the Taiwan Strait, and interfere with China's internal affairs," said Foreign Ministry spokeswoman Jiang Yu in a statement.     Jiang made the comments in response to a reporter's question on U.S. government approval for Raytheon Company to sell 1.1 billion U.S. dollars of Patriot antimissile system to Taiwan.     "We have raised solemn representations to the U.S. side," said Jiang. "We urge the U.S. to stop arms sales to Taiwan to avoid undermining China-U.S. cooperation."     Jiang said, "We urge the U.S. to clearly recognize the severe consequences of arms sales to Taiwan, reject the cold war mentality, and adhere to the three Sino-U.S. joint communiques, especially the principles established in the Joint Communique on Aug. 17, 1982."     The "Aug. 17 communique" stated that the U.S. would not seek to carry out a long-term policy of arms sales to Taiwan, and intended to gradually reduce arms sales.     "We also persuade the Raytheon Company to stop pushing or participating in arms sales to Taiwan, and refrain from doing anything that harms China's sovereignty and security interest," Jiang said.