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ANSHAN, Liaoning, June 16 (Xinhua) -- An official with the Ministry of Industry and Information Technology (MIIT) said Tuesday that the proposed alliance of Rio Tinto and BHP Billiton had a "strong monopolistic color" and Chinese firms would watch it closely and find ways to cope with it.     Last year, China imported 440 million tonnes of iron ore, half of the world's total, so any slight market changes would affect Chinese steel makers. China's anti-monopoly law should apply in the proposed deal, said Chen Yanhai, head of the raw material department of MIIT at an industry meeting held in the northeastern city of Anshan, Liaoning Province.     If the tie-up proved to be monopolistic, "we have to seek new policies and regulations to allow Chinese companies have a bigger say in iron ore pricing," said Chen without elaborating.     Rio Tinto scrapped a proposed 19.5-billion-U.S.-dollar investment by Aluminum Corp. of China, or Chinalco, on June 5, and turned to rival BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up a joint venture to run the iron ore resources of both companies in west Australia.     On Monday, spokesman of the Ministry of Commerce Yao Jian said if the revenue of the joint venture reached "a certain amount," China's anti-monopoly law would apply.     That law requires a company to get government approval before consolidation if its global revenue exceeds 10 billion yuan (1.47 billion U.S. dollars) and its revenue in China exceeds 2 billion yuan.     An anti-monopoly review is also necessary if two or more parties in the company had more than 400 million yuan of revenue in China in the previous fiscal year.     In the year ended 30 June, BHP Billiton's revenue in China was 11.7 billion U.S. dollars, while that for Rio Tinto was 10.8 billion U.S. dollars, according to the companies' websites.     It was unclear what actions China would take if the case was determined to be covered by the Chinese anti-monopoly law.     At the meeting Tuesday, Chen also said domestic steel makers should beef up technology and innovation to cut energy consumption and raise efficiency. Also, he said, China "should increase exploration of domestic mines to reduce reliance on imports."

BEIJING, June 4 (Xinhua) -- A reception was held here on Thursday evening to celebrate the 35th anniversary of the establishment of diplomatic ties between China and Malaysia.     Chinese Vice Premier Li Keqiang and Malaysian Prime Minister Najib Tun Razak addressed the reception, pledging to advance bilateral relationship to a new level.     Li said the growth of China-Malaysia ties in the past 35 years had brought tangible benefits to the two peoples, and helped promote regional peace and development.     The current sound bilateral relations profited from the traditional friendship, the broad common interests and the great importance attached by both leaders to promoting the ties, Li noted. Chinese Vice Premier Li Keqiang(R) cuts a cake together with his counterpart Najib Tun Razak during the evening reception to mark the 35th anniversary of the establishment of diplomatic relationship between China and Malaysia in Beijing, capital of China, on June 4, 2009.Under the new situation, the potentials for China-Malaysia cooperation were great, Li said, noting that China would work with Malaysia to jointly cope with the international financial crisis.     The two governments signed a joint action plan on China-Malaysia strategic cooperation on Wednesday, which outlined the political, economic, cultural, and education cooperation in the coming years.     Li hoped the two nations would fulfill the action plan and expand the bilateral strategic cooperation.     Echoing Li, Najib said his government was ready to increase cooperation with China in an all-around way, in a bid to lift bilateral ties into a new historical level.     Najib said his country was proud of becoming the first country among the members of the Association of Southeast Asian Nations (ASEAN) to forge diplomatic relations with China 35 years ago.     Najib's late father, then Prime Minister Tun Abdul Razak, signed the communique on diplomatic ties with China at that time.     At a press conference here Thursday evening, Najib said that he is very delighted with the outcome of his China visit, stressing that the cornerstone of bilateral relations and the emphasis of further cooperation will still be the economic and business ties.     "My visit is not only to follow the footsteps, but more to run faster and further," said Najib, adding that he believed there is so much potential to raise the bilateral relations to the next phase.     "We are excited about the prospect between Malaysia and China, " he said.     Najib arrived here on Tuesday for a four-day official visit. China is the first country he visited outside the ASEAN since he took office in April.

HONG KONG, June 30 (Xinhua) -- The renminbi deposits with authorized institutions in Hong Kong rose 0.8 percent in May to 53. 4 billion yuan (7.8 billion U.S. dollars), representing about 2 percent of the foreign currency deposits, the Hong Kong Monetary Authority said Tuesday.     The total deposits rose 2 percent in the same month, with the HK dollar deposits rising 2.7 percent as the expansion in demand and savings deposits exceeded the contraction in time deposits.     Foreign currency deposits climbed 1.4 percent.     Seasonally-adjusted HK dollar M1, the narrowest measure of money supply in an economy, rose 9.6 percent in May and 26.8 percent from a year earlier. Unadjusted HK dollar M3, the broader measure, grew 2.5 percent in May and 8.1 percent year on year.     Hong Kong, a southern Chinese special administrative region and free trade hub, has been trying to foster the development of RMB financial market recently with a pilot scheme using yuan for cross- border trade settlement and the issuing of yuan-denominatedbonds in Hong Kong by local and foreign banks operating in the mainland.

YINGXIU, Sichuan, May 12 (Xinhua) -- One year after a massive earthquake hit China's southwestern inland, Chinese President Hu Jintao on Tuesday mourned quake victims with a white chrysanthemum and a motivating speech calling for collective strength in face of extreme hardship.     On 2:28 p.m. Tuesday, exactly one year after the devastating quake shattered many areas in Sichuan and neighboring provinces, President Hu, in dark suit and a blue-and-white stripped tie, paid his respect at a white marble memorial wall on which a written record was inscribed. Chinese President Hu Jintao places a white chrysanthemum in front of a commemorative wall of the earthquake during the commemorative service to mark the first anniversary of May 12 Earthquake in Yingxiu Township of Wenchuan County, southwest China's Sichuan Province, May 12, 2009Beside the monument wall stands a giant granite clock, purposely made cracked, showing the exact time as the tremor occurred. The mourning venue was located among destroyed buildings, including one once belonged to the Xuankou Middle School in the 12,000-resident Yingxiu town, the epicenter of the earthquake. Two thirds of Yingxiu residents lost their lives. Among them 44 were students or teachers from the particular school. A national flag-raising ceremony is held during the commemorative service to mark the first anniversary of May 12 Earthquake in Yingxiu Township of Wenchuan County, southwest China's Sichuan Province, on May 12, 2009The former school gate was decorated Tuesday with white and yellow silk flower, a symbol of grief in the Chinese culture.     After solemn music played by a white uniform-clad military trumpeter, President Hu said, "The country mobilized the fastest, widest and strongest relief efforts when the whole Chinese nation was faced with the unprecedented challenge from the quake disaster."     Chinese Premier Wen Jiabao arrived in Sichuan hours after the quake hit the province to direct relief work.     "Our quick response helped save lots of lives and minimize property losses incurred by the quake," Hu said.     The most destructive quake in China's history, the 8.0-magnitude earthquake struck Sichuan's Wenchuan county and affected some parts of the provinces of Shaanxi and Gansu on May 12, 2008, leaving more than 87,000 dead or missing and the property loss valued at, in official estimates, more than 800 billion yuan (117 billion U.S. dollars).     Mentioning global aid to China's quake relief, Hu said, "On behalf of the Chinese government and people, I express, once again, heartfelt thanks to foreign leaders, governments, political parties, social institutions and embassies in China for their deep care and support to quake relief and reconstruction."     He also thanked United Nations organizations and other international institutions and foreign friendly personages for their care and support

BEIJING, May 17 -- Shanghai will step up efforts to lure more talent, beef up development of its legal system and improve its credit database as part of efforts to develop a global financial center, Vice Mayor Tu Guangshao said Saturday.    The city will also enable financial markets and institutions to play an important role in financial innovation and make the Pudong New Area a pioneer for financial reforms, Tu told the Lujiazui Forum in Shanghai.     "To realize our goals, we need a combination of forces," said Tu. "We need guidance and support from the central government in terms of rules' drafting and coordination. We also need financial markets and companies to make contributions." From left: Xu Xiaonian, professor of CEIBS, Hu Zuliu, chairman of Goldman Sachs China, Xie Guozhong, board member of Rosetta Stone Advisors, Ha Jiming, chief economist of China International Capital Corp and Wang Qing, chief economist of Morgan Stanley China discuss issues at the Lujiazui Forum Saturday    Shanghai must have "breakthrough and innovation" in its measures to attract financial talents, the most important element in building the city into an international financial hub, Tu said.     The city should also have a solid financial legal system and the municipal government is working to improve the arbitrary, hearing and verdict processes of financial cases, according to Tu.     He added that local government will cooperate with the People's Bank of China to improve the city's credit environment. One focus will be the establishment of a credit ratings system for small- and medium-sized enterprises to facilitate fundraising, Tu said.     Xu Lin, Party Secretary of Pudong New Area, told the forum the district will shore up its preparation for financial innovation, including establishing an over-the-counter equity exchange for start-up technology firms.     Pudong will also trial programs to settle cross-border trade using the yuan and to set up consumer finance companies to fund people's purchases of durables such as home appliances and electronics.     Xu also noted that Pudong will fast track the development of financial services for the shipping industry as China pursues building Shanghai into an international financial and shipping hub by 2020.     "The district will encourage capital from various sources to help innovation and upgrade industry," Xu said. "More credit support will be given to small companies in terms of innovation."     Financial experts attending the two-day Lujiazui Forum, which ended Saturday, called on the city to take more measures to retain talent and financial institutions.     "The major European and US markets are reshuffling after the crisis and it has created a good opportunity for Shanghai to lay a sound basis and infrastructure for rising as an international financial center," said Laura Cha, deputy chairman of the Hongkong and Shanghai Banking Corp.     "We should learn lessons from them and avoid the mistakes they have made."     Shanghai is still lagging behind in terms of financial talent both in quality and quantity, she added.     She suggested shoring up the city's financial high education sector and rotating financial talents to develop more overseas experience.

来源：资阳报