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PYONGYANG, June 17 (Xinhua) -- Visiting Chinese Vice President Xi Jinping on Tuesday made a five-point proposal to strengthen bilateral ties and cooperation with the Democratic People's Republic of Korea (DPRK).     Xi, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the proposal while meeting with Yang Hyong Sop, vice president of the Presidium of DPRK's Supreme People's Assembly.     Firstly, Xi proposed maintaining the trend of mutual exchange of visits by high ranking officials, and strengthening political communication and close relations between the Chinese Communist Party and the Worker's Party of Korea.     China will continue to exchange views on governance and party construction with the DPRK, maintaining communication on important issues, he said. Chinese Vice President Xi Jinping(4th L) talks with Yang Hyong Sop (3rd R), vice president of the Presidium of the Supreme People's Assembly of the Democratic People's Republic of Korea (DPRK) during a meeting in Pyongyang, capital of the DPRK, on June 17, 2008.    Second, he proposed the observance of "China-DPRK Friendship Year" in 2009 -- the 60th anniversary of the establishment of diplomatic ties between the two countries.     The third point of his proposal is that both sides should strive to deepen cooperation in agriculture, light industry, information industry, technology, transportation and infrastructure construction in the border areas.     It should be a win-win cooperation, resulting in mutual benefits, the Chinese vice president said.     China will encourage large and creditable enterprises to invest in the DPRK, he said, adding that the two sides could upgrade a number of ports to enhance their loading and unloading capacity.     Fourth, Xi proposed the promotion of bilateral cultural exchanges.     China will welcome artists' groups from the DPRK to the 10th Asian Art Festival in September and will continue to send high-level art groups to the International Spring Art Festival held in Pyongyang each April, he said.     Finally, the Chinese vice president also proposed to strengthen bilateral coordination and cooperation in the six-party talks on the DPRK nuclear issue, and within the framework of the United Nations, to protect the interests of both countries.

TIANJIN, Sept. 27 (Xinhua) -- China has full confidence and capability to overcome various difficulties to ensure sound and fast economic growth for an even longer period of time, said Premier Wen Jiabao on Saturday.     Addressing the opening ceremony of the 2008 Summer Davos Forum in the north China port metropolis of Tianjin, Wen said China is in the stage of rapid industrialization and urbanization, and has huge potential for economic growth. The important period of strategic opportunities for China's development will last quite a long time.     Despite the heavy snow and sleet storms and the devastating earthquake and a complex situation both at home and abroad the nation faced, China have overcome difficulties one after another and maintained the momentum of steady economic growth.     "There are many favorable conditions for China to maintain sustained and fast growth, such as abundant supply of labor and capital as well as huge potential of increased domestic consumption and investment demands, vast market and more competitive and dynamic enterprises," said Wen.     The demands for investment, consumption and export are growing in a more balanced way. The economic fundamentals in China remain unchanged and the economy is moving in the direction envisaged in the macro-economic control policy, he added.     The two-day forum, also known as the New Champions 2008, has attracted about 1,400 participants from nearly 90 countries and regions, including business elite and senior officials, to discuss topics about the theme "The Next Wave of Growth". The second Annual Meeting of the New Champions organized by the World Economic Forum is officially opened at Tianjin Binhai Convention and Exhibition Center in north China's Tianjin Municipality, Sept. 27, 2008

BEIJING, May 28 (Xinhua) -- General Secretary of the Communist Party of China Central Committee Hu Jintao met with Kuomintang (KMT) Chairman Wu Poh-hsiung at the Great Hall of the People in Beijing on Wednesday afternoon.     Hu said that with the joint efforts of the CPC and KMT, and of compatriots on both sides of the Taiwan Strait, the political situation in Taiwan has gone through positive changes, and the cross-Strait relationship faces a precious opportunity.     "We should cherish this hard-earned situation," said Hu.     It is the first meeting between chiefs of the two parties since positive changes took place in Taiwan.     Hu invited Wu to attend the opening ceremony of the 2008 Beijing Olympics. Wu thanked him and accepted the invitation with pleasure. Hu Jintao (R), General Secretary of the Communist Party of China Central Committee, shakes hands with Kuomintang (KMT) Chairman Wu Poh-hsiung at the Great Hall of the People in Beijing, capital of China, on May 28, 2008. Hu Jintao met with Wu Poh-hsiung and all the members of the visiting KMT group here on Wednesday.     Hu said currently, reopening the cross-strait talks and to achieve substantial results constitutes an important indication of the improvement and development of the cross-strait relations.     He called for resuming exchanges and talks, based on the "1992 Consensus", between the mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan's Strait Exchange Foundation (SEF), as early as possible, and practically solving problems concerning the two sides through talks on equal footing.     Once the ARATS-SEF dialogue is resumed, priority should be given to issues including cross-Strait weekend chartered flights and approval for mainland residents traveling to Taiwan, which are of the biggest concern to people on both sides of the Strait, said Hu.     He urged the two sides to work together to resolve the two issues in the shortest time.     Hu expressed hope that the regularization of the talks between the two organizations could be pushed forward smoothly and achievements made constantly. Leaders of the two organizations should exchange visits when it is convenient for both sides, he said.     Hu pledged support to sending "Tuantuan" and "Yuanyuan," a pair of pandas the mainland has promised to send to Taiwan people as gifts, to Taiwan as soon as possible.     Hu expressed hope that the two parties and both sides across the strait could make joint efforts to build mutual trust, lay aside disputes, seek consensus and shelve differences, and jointly create a win-win situation.     He also called for continuing to follow and effectively implement the "common aspiration and prospects for cross-strait peace and development" to concretely push forward the actual development of cross-strait relations, and strengthen the confidence of Taiwan compatriots in the peaceful development of cross-strait relations.     On behalf of the CPC Central Committee, Hu welcomed Wu and all the members of the visiting KMT group.     Hu said Wu's first visit to the mainland as the KMT chairman is a major event for relations between the CPC and the KMT and relations between the mainland and Taiwan.     He expressed hope that on the basis of previous exchanges and dialogues, the two parties would further exchange views on promoting the improvement and development of relations between the mainland and Taiwan and looking to the future, jointly work for peaceful development of relations across the Taiwan Strait.     On behalf of the KMT and Taiwan compatriots, Wu extended sympathy to compatriots in the areas affected by the Wenchuan earthquake in southwest China. He said the KMT and all social circles in Taiwan would actively assist in the rebuilding of disaster-hit areas.     Hu thanked Taiwan compatriots for their concern and generous donations and assistance to relief efforts in the wake of the 8.0-magnitude earthquake in Sichuan Province.     "The love and benevolence Taiwan compatriots have shown to the people in disaster-hit areas is deeply moving," he said, adding it was touching that on the afternoon of May 12, shortly after the earthquake struck, the Central Committee of the KMT sent a telegram of sympathy.     Hu said the brotherly love and care shown by compatriots in the disaster was particularly valuable. It was not only the spiritual power of the Chinese nation to unite and help each other to jointly conquer the hardships, but would also become a strong driving force for compatriots on both sides of the Taiwan Strait to join efforts in building a better future.     Hu expressed condolences to the families of two Taiwan tourists who died during the quake, noting more than 2,890 Taiwan tourists were evacuated out of the affected areas and returned home smoothly.     Wu said the "sky has cleared after the rain" for the cross-strait relationship, and an opportunity for building up mutual benefits and renovating the cooperation has come. The mainstream public opinion in Taiwan expects the relationship to become more good-willed and interactive.     He said the KMT has listed the "common aspiration and prospects for cross-strait peace and development" into its guiding political principle, and has made it a promise for compatriots across the Strait.     "We hope that both sides across the strait will lay aside disputes, and work for a win-win situation on the basis of the '1992 consensus,'" he said.     He hoped the cross-strait negotiation, which had been severed for years, would be resumed as soon as possible.     The KMT hopes that cross-strait chartered flights on weekends and mainland tourists' visit to Taiwan could be realized in July, he said.     He expressed hope that the giant pandas, which people in Taiwan, especially children, are very fond of, can come to live in Taiwan soon.     He said he would invite the chairman of the mainland-based Association for Relations Across the Taiwan Straits (ARATS) to visit Taiwan at an appropriate time.     Wu said some Taiwan people had doubts over the development of the cross-strait relations, and that KMT itself shares Taiwan people's wish for the island to take part in international activities.     However, the KMT was against some people's distortion of "Taiwan consciousness" into "Taiwan independence consciousness," he said.     Wu expressed hope that through expanded exchanges, reciprocal and win-win cooperation across the strait, the suspicion of some Taiwan people would be dissolved.     Hu said with regard to the question of Taiwan compatriots participating in international activities, the mainland side understood their feelings. According to the "common aspiration and prospects for cross-strait peace and development," Taiwan compatriots' participation in international activities would be discussed with priority given to participation of the World Health Organization's (WHO) activities after the cross-strait consultations were resumed.     "I believe that if two sides can work together and create conditions, solutions will be found to these issues through consultation," Hu said.     He stressed that on developing cross-strait relations, the CPC has always adhered to the principal of safeguarding the fundamental interests of the Chinese nation and safeguarding the common interests of all Chinese people, including Taiwan compatriots.     "We care for, respect and believe in the Taiwan compatriots. As to the misunderstanding and suspicion harbored by some Taiwan compatriots concerning the cross-strait relations, we will not only give our understandings but also take active measures to dissolve them," he said.     To realize the peaceful development of cross-strait relations, the more people unite with us, the better, he said.     Wu said the two parties needed to continue strengthening exchanges and dialogues in the future, hold economic, trade and cultural forums or peace forums at appropriate time, and continue to have inter-party exchanges at the grassroot level, so as to make the two parties' exchange platform more solid and impact more far-reaching.     After the cross-strait consultations resume, Wu said, the regularized consultations between the two sides and the two parties' exchange platform should play roles at the same time.     Wu expressed hope that the two parties would make joint efforts and together with the compatriots from across the strait, create peace, promote stability and development and share prosperity.     Hu stressed that under the new circumstances, the two parties should expand exchanges and bring the role of exchange platform between the two parties into full play.     He expressed hope that the two parties can bear in mind the welfare of compatriots across the strait and the fundamental interests of the Chinese nation, unswervingly promote the peaceful development of the cross-strait relations, and make joint efforts to realize the great rejuvenation of the Chinese nation.     Also present at the meeting were senior mainland officials including Wang Qishan, Ling Jihua, Wang Huning, Dai Bingguo and Chen Yunlin.     Hu hosted a banquet for Wu and his delegation after the meeting.

GUANGZHOU, April 18 (Xinhua) -- Exhibitors at China's largest trade fair may have one more question to ask when their paper-thin profits are further squeezed by a fast-rising yuan.     "Are you willing to pay by euro?" Lu Jia, a sales manager from a local leather manufacturer at the Canton fair, ventured the final but most crucial question to her Turkish client after introducing her products.     "Honestly, starting clearing of euro transactions rather than the U.S. dollar is not easy for my company, but it is still worth a try given a faster yuan rise this year," the 23 year-old Lu said at the trade-promotion event in Guangzhou, capital of the southern Guangdong Province.     The Chinese currency, the yuan, breached the 7-yuan mark for the first time on April 10, gaining 4.47 percent this year and 18.27 percent since the government unpegged it from the dollar in 2005.     "The yuan appreciation far outpaced our business growth. Its weekly increases were even beyond our anticipation," said Cao Xiaojian, the Jiangsu Shuntian Co., Ltd vice chairman.     Like most other Chinese exporters, Cao earns dollar-denominated profits, which are on the decline as the dollar becomes cheaper. He said that a 1 percent rise in the yuan would result in a sales profit decrease of 2 percent to 6 percent and things were even worse for the garment industry.     "Profit margins for home electrical appliances are between 3 percent and 5 percent and the rising exchange rate has eaten them away," said Zhang Yujing, China Chamber of Commerce for Import and Export of Machinery and Electronic Products vice chairman.     Most exhibitors at the fair had to raise their offers due to higher costs in raw materials, energy and transport. Yet, they were afraid too high prices might scare away orders faced with sagging demand due to a global slowdown.     "A small rise in offers is acceptable," said Khaldoun Kalbouneh, general manager of the Furniture World, a trading company headquartered in Palestine. "But if the prices are too high, I may consider other markets."     Zhang said export-oriented sectors should improve their product mix, add more value and use financial tools to evade risks by the yuan rise.     As China's largest listed textile manufacturer, the Jiangsu Shuntian has pulled investment from textile into other industries like chemical, finance and securities, mines and high-tech, among others.     But many other companies prefer price increases. Chinese leading home appliance maker Qingdao Haier said it would re-set its prices with overseas sellers once the yuan gained more than 3 percent. The new price would be determined by the specific foreign exchange rate.     Feng Bin, Suzhou Chunlan Air Conditioner Co., Ltd general manager, said he hoped to transact via the euro. "The offer will expire in three months if the client sticks to the dollar. The exchange rate changes too quickly."     Experts say the change of currency clearing system is still not feasible for most exporters as it involves adjustment of export markets and bargain with foreign buyers. Besides, such services in domestic banks are too complicated, they say.     Therefore, some companies are considering financial derivatives as a way out. Shen Zhiming, Zhejiang Cathaya International Co., Ltd manager, said his company had bought currency futures for two years. "It is a real learning process for Chinese enterprises, a process for internationalization."     The China Import and Export Fair has two phases, from April 15 to 20 and April 25 to 30. The first phase features textiles, garments, health products, household appliances, tools, small vehicles and hardware.     Food, tea, kitchenware, decorations, toys, sporting goods and office supplies highlights the second phase.

BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.