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BEIJING, Sept. 9 (Xinhua)-- China and the European Union (EU) should properly cope with trade frictions, and push forward economic and trade cooperation, Chinese Vice Premier Wang Qishan said here Wednesday.     Wang was meeting with EU Trade Commissioner Catherine Ashton, who is on her first visit to China.     "China and the EU should appropriately handle trade frictions, and fight resolutely against trade protectionism," he said.     Since late July, the EU has launched a series of anti-dumping actions against Chinese products, covering steel wire rod, seamless steel tubes, sodium gluconate, steel cables and aluminum road wheels.     "Some of China's major trading partners have shown signs of protectionism during the global financial crisis, and there has been rising trade protectionism inside the EU," said Sun Yongfu, who is department chief in charge of European affairs of Chinese Commerce Ministry.     Vice premier Wang said the two sides' top priorities at the present time should be making efforts to continuously further coordination and cooperation, jointly tiding over the global financial crisis, and facilitating the recovery of regional and international economy. Chinese Vice Premier Wang Qishan (1st R) meets with European Union (EU) Trade Commissioner Catherine Ashton (1st L) in Beijing, capital of China, Sept. 9, 2009.    Wang also urged the EU to recognize China's status as a market economy at an early date.     The EU would like to adopt a pragmatic attitude in solving problems in bilateral trade and investment, and create a favorable environment for deepening economic and trade cooperation with China, said Ashton during the meeting.     In Ashton's speech at the University of International Business and Economics earlier Wednesday, she called for the EU and China to "work on outstanding issues" in order to strengthen trade relations, the European Commission said in a press release on its website.     Ashton, who began the visit on Sept. 6, said during the meeting that she was glad to see what was happening in China with her own eyes.     In May, Ashton and Wang held talks in Brussels as co-chairs of the EU-China High Level Economic and Trade Dialogue, which set the strategic direction for the bilateral economic relationship and identified challenges and opportunities.     Currently, China and the EU are one of the most important trade partners to each other. Bilateral trade volume reached 425.6 billion U.S. dollars in 2008.     During her visit, Ashton was scheduled to meet with Chinese Commerce Minister Chen Deming and Foreign Minister Yang Jiechi, and attend the 13th China International Fair for Investment and Trade in Xiamen city of southeast Fujian Province.

UNITED NATIONS, Sept. 23 (Xinhua) -- Chinese President Hu Jintao on Wednesday pledged to further assist the development of other developing countries when addressing the UN General Assembly during its the general debate.     "As a responsible and major developing country, China has always made common development an important aspect of its foreign policy," Hu said in his speech.     "We have made great efforts to provide support and assistance to other developing countries, and fulfilled our commitment under the UN Millennium Declaration," he said.     To further assist other developing countries, the Chinese president said, China will increase support for those hit hard by the global financial crisis, earnestly implement relevant capital increase and financing plans, intensify trade and investment cooperation and help raise their capacity for risk-resistance and sustainable development.     "China will continue to implement the measures announced at the UN High-level Event on Millennium Development Goals (MDGs) to assist other developing countries in speeding up development and facilitate the attainment of the MDGs," he added. Chinese President Hu Jintao addresses the 64th United Nations General Assembly at the UN headquarters in New York, Sept. 23, 2009. The 64th session of the UN General Assembly kicked off its general debate on WednesdayOn China's assistance to Africa, Hu said, China will follow through on the measures announced at the Beijing Summit of the Forum on China-Africa Cooperation, increase assistance to Africa, expand trade and investment, provide human resources and technological support for African countries in such areas as agriculture, health, education and disaster preparedness.     Hu also promised China's efforts to promote regional monetary and financial cooperation, maintain financial and economic stability and push forward financial cooperation and trade in the region.     He said China has so far provided assistance to more than 120 countries, canceled debts for 49 heavily-indebted poor countries and least developed countries, and extended zero-tariff treatment to commodities from over 40 least developed countries.     Hu noted that, since the outbreak of the global financial crisis, China has kept its currency's exchange rate basically stable, which helps maintain healthy international trade.     China has taken an active part in the trade finance program of the International Finance Corporation and provided financing support to the International Monetary Fund, which will be mainly used to help developing countries, Hu said.     "We have established the China-ASEAN Investment Fund, provided credit support to the members of the Shanghai Cooperation Organization, and actively contributed to the building of an East Asian foreign currency reserve pool," he added.

HAIKOU, Oct. 12 (Xinhua) -- Rescuers have recovered the bodies of three victims in a boat capsizing incident after tropical storm Parma landed in south China's Hainan Province Monday.     Strong winds and waves triggered by Parma caused a fishing boat to capsize and sink off the coast of Wanning City Monday morning, and all nine fishermen aboard the vessel fell into water, a spokesman with the Hainan Provincial Emergency Response Office said.     By 5 p.m., one body had been retrieved and five people had been rescued. At about 8 p.m., the bodies of two more victims were found, according to the maritime bureau of Hainan. A rider falls to the ground in the heavy winds and rains in Qionghai City, south China's island Province of Hainan, Oct. 12, 2009Rescuers were still searching for one person that remained missing, the spokesman said.     Parma made a landfall in Wanning's Longgun Township at 9:50 a.m. Monday, packing winds of up to 54 km per hour, according to the Hainan Provincial Observatory.     The storm is moving northwestward at a speed of 15 km per hour.     The tropical storm brought strong winds and rains to most parts of the province, and local authorities have warned residents against flash floods, landslides and other disasters.     Price hikes of vegetable and seafood have been reported in markets in the provincial capital of Haikou, as suspension of navigation has led to commodity shortages.     In addition to Hainan, Parma brought winds and rains to coastal areas of Guangdong, Fujian and Taiwan provinces.     But the rains in parts of Guangdong have not eased a drought in the province, local authorities said. Branches levelled by heavy winds block the vehicles in Qionghai City, south China's island Province of Hainan, Oct. 12, 2009

BEIJING, Oct. 6 (Xinhua) -- China's new yuan-dominated loans in September was expected to reach 300-400 billion yuan (44-59 billion U.S. dollars), China Securities Journal reported on its website Tuesday.     The figure was less than that of August, which hit 410.4 billion yuan.     Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), provided the figure during an International Monetary Fund (IMF) conference held in Istanbul, Turkey on Monday.     New loans in the first eight months stood at 8.15 trillion yuan, far exceeding the full-year target of five trillion yuan, according to he People's Bank of China, the central bank, this September.     The CBRC reiterated in September that domestic lenders should seek to enhance their risk management and stick to regulatory requirements to reduce worries over financial risks caused by rapid credit growth this year.     China began to adopt a moderately easy monetary policy in last November in a bid to maintain economic development amid the financial crisis.

BEIJING, Sept. 29 (Xinhua) -- China will lower gasoline and diesel prices by 190 yuan (27.8 U.S. dollars) per tonne from Wednesday, the National Development and Reform Commission (NDRC) announced Tuesday.     The benchmark price of gasoline will be 6,620 yuan a tonne, and for diesel 5,880 yuan a tonne, according to the NDRC.     The retail price of gasoline will drop by 0.14 yuan per liter and that of diesel will decrease by 0.16 yuan per liter.     It is the eighth fuel price adjustment since the country adopted a new fuel pricing mechanism, which took effect on Jan. 1 and the first reduction of fuel prices in two months.     Under the pricing mechanism, the NDRC will consider changing the benchmark retail prices of oil products when the international crude price changes more than 4 percent over 22 straight working days.     The price cut was in accordance with the international price changes, the NDRC said.     The average crude price of Brent, Dubai and Cinta has declined to 71.52 U.S. dollars a barrel, down 5.02 percent since the previous fuel price adjustment, according to the Shanghai-based CBI (China) Co., Ltd., a leading service provider in Chinese commodity markets.

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