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SEOUL, Nov. 12 (Xinhua) -- China and South Korea can borrow judicial experiences from each other, Chinese Chief Justice Wang Shengjun said here Friday.There is significant room for cooperation between the judicial courts of the two countries, especially in such areas as administrative management, information technology applications, and training of judges, said Wang, president of China's Supreme People's Court (SPC).Wang praised the information technology applications at the grassroots judicial courts in South Korea.He said that his visit to South Korea was fruitful and hoped that the two sides would expand exchanges and cooperation further and make contribution to the development of the relationship between the two countries.Wang arrived here Sunday to visit at the invitation of the Supreme Court of South Korea.During the visit, Wang held talks with various South Korean judicial officials and discussed topics of common concern, such as judicial systems and reforms.

ISLAMABAD, Dec. 18 (Xinhua) -- Chinese Foreign Minister Yang Jiechi and his Russian counterpart Sergei Lavrov on Saturday night called for restraint from all parties concerned to avoid escalation of tension on the Korean Peninsula.During a phone conversation with Lavrov, Yang, who is accompanying Chinese Premier Wen Jiabao on a visit to Pakistan, said the situation on the peninsula has become tense recently and may further deteriorate.China firmly opposes any actions to cause tension and worsen the situation, and demands both sides on the peninsula show calmness and restraint, carry out dialogue and contact, and completely avoid any actions that would fuel the tension, Yang said.China hopes other concerned parties would do more to help ease the situation on the peninsula, he added.Yang said China insists that all parties concerned conduct dialogue and consultation, and seek a peaceful settlement of the dispute.China is willing to keep close communication and coordination with Russia to prevent the situation from deteriorating and getting out of control, and help maintain peace and stability on the peninsula and in Northeast Asia.Lavrov, for his part, said Russia attaches high importance to the developments on the peninsula, adding his country has expressed great concern to relevant countries and demanded utmost calmness and restraint from all parties concerned.Russia is willing to work with China to make active efforts to reduce the tension on the peninsula, he said.South Korea has declared plans for a live shell artillery drill in the tense waters southwest of Yeonpyeong Island on a selected date from Dec. 18-21 depending on weather conditions.The Democratic People's Republic of Korea (DPRK) on Friday urged Seoul to immediately stop its plans for the shelling exercise, warning it would deliver a second and third "unpredicted self-defense counterattack" that would be bigger and more powerful than the previous one.South Korea and the DPRK exchanged artillery fires near the Yeonpyeong Island on Nov. 23, which killed four South Koreans.

BEIJING, Jan. 17 (Xinhua) -- The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program, which aims to build 10 million affordable housing units for low and middle income residents this year.The commission also said it will continue to implement the differentiated home loan policy adopted last year, under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price, while second home buyers will have to pay an even higher amount of down payments, at 50 percent.Further, the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year, overshooting the government's full-year target of 7.5 trillion yuan.

BERLIN, Jan. 6 (Xinhua) -- Chinese Vice Premier Li Keqiang arrived here Thursday on the second stop of his three-nation Europe tour to promote China's relations with European Union nations.In a written speech released at the airport, Li said China-Germany ties would enjoy important development opportunities in the new era.Li said he expected further deepening of cooperation between China and Germany in various fields, and that he would exchange views with German leaders on issues of common concern during his four-day stay in Germany, so as to boost the continued development of the China-Germany strategic partnership.Li said China's relations with Germany had moved ever closer as the two countries jointly fought against the international financial crisis.Chinese Vice Premier Li Keqiang (R, front) is greeted upon his arrival in Berlin, Germany, Jan. 6, 2011. Li Keqiang arrived here Thursday on the second stop of his three-nation Europe tour.Both sides had boosted their strategic partnership in a comprehensive way, with frequent high-level exchanges and robust growth in trade and economic cooperation, Li said.He also hailed the remarkable achievements in bilateral exchanges and cooperation in science and technology, education, culture and law, and among youth, as well as the coountries' close coordination and collaboration in international affairs.During his stay in Germany, Li will hold talks with German Chancellor Angela Merkel and meet German President Christian Wulff, and Foreign Minister Guido Westerwelle.He is also scheduled to address a gathering of German and Chinese business representatives.Both sides are expected to sign cooperation documents in such areas as trade and the economy, and finance."Throughout the years, China-Germany relations have grown steadily. The two countries have established a strategic partnership," Li said in a guest article published by German newspaper Sueddeutsche Zeitung Wednesday."Over the past two years, China and Germany have worked hand in hand to tackle the international financial crisis," the article said, adding both countries were among the first to achieve an early and strong economic recovery, and had contributed actively to the world economic recovery.The article also said the two countries should expand trade cooperation, promote mutual investment and deepen cultural and people-to-people exchanges.Chinese ambassador to Germany Wu Hongbo told Xinhua he believed Li's visit to Germany would lay solid ground for developing the two countries' relations for the year, and charter the course for and add fresh momentum to the relationship.Before arriving in Germany, Li visited Spain. He will later visit Britain.

BEIJING, Dec. 25 (Xinhua) -- China 's central bank announced Saturday that it will raise the one-year lending and deposit interest rate for the second time this year, as the government continues its battle against surging prices.The People's Bank of China (PBOC) said in a statement posted on its website that it will hike the benchmark interest rate by 25 basis points beginning Sunday, which raised the one-year lending rate to 5.81 percent and one-year deposit rate to 2.75 percent.The PBOC increased the benchmark lending and deposit rates by 25 basis points on Oct. 20, which was the first increase in nearly three years.The rate hike came after the central bank vice governor, Hu Xiaolian, said Friday that China would bring its overall money supply to a normal level using various policy tools, as the government shifts monetary policy from "moderately loose" to "prudent" to rein in rising inflationary pressures and curb asset bubbles.Photo taken on Nov. 18, 2010 shows a teller counting the Renminbi at a bank in Qionghai City, south China's Hainan Province. China's central bank will raise the one-year lending and deposit interests rate by 25 basis points from Dec. 26, 2010, according to a statement posted on the website of the People's Bank of China Saturday.The country's consumer price index (CPI), a main gauge of inflation, accelerated to a 28-month high in November of 5.1 percent, while new loans reached 7.45 trillion yuan in the first 11 months of this year, compared to the government's full-year target of 7.5 trillion yuan.A recent PBOC survey also showed that the proportion of Chinese citizens satisfied with the current price level had sunk to an 11-year low, and only 17.3 percent of the consumers said they intended to consume more in the future.Rising prices have prompted the government to take measures to rein in the hikes, including boosting supplies and providing financial aid to the needy.Li Daokui, a member of the monetary policy committee with the PBOC, said the rate hike mainly aimed at managing inflationary expectations and reflected the policy shift, as tightening the money supply is the best way to curb inflation.The rate increase came "at the right time", as western countries are celebrating the Christmas holiday, to avoid overreaction from the global markets, Li added.Besides interest rate hikes, China had increased the bank reserve requirement ratio six times in 2010 to 18.5 percent and 19 percent for some large commercial banks."The decision was made in consideration of China's economic condition next year," said Lian Ping, chief economist with the Bank of Communications, the country's fifth largest lender, who described fighting inflation as the central bank's primary task at present.Lian expected inflation to continue to go up in the first quarter next year due to rises both in demand and cost, as well as other influences from the external market.His views were echoed by Zhuang Jian, chief economist with the Asian Development Bank, who also attributed rising inflation to holiday seasons and the extreme winter weather.Observers believe that further rate hikes are to be expected since solving inflation and liquidity pressure at the same time is considered a difficult task."You cannot expect one or two rate rises to have a significant impact on economic indicators," said Zuo Xiaolei, chief economist with Galaxy Securities.However, Lian said China only has room for two or three rate hikes, as higher interest rates would increase risks of "hot money" inflows due to a widening interest margin between China and the United States, which is likely to keep rates low.Li Daokui also attributed the timing of the rate increase to avoiding rapid capital inflows.But currently the factors that decides the direction of capital flows are currency exchange rates and assets prices, Lian added.UBS Securities economist Wang Tao said last month that she expected the central bank to raise the interest rate by 25 basis points before the end of the year and by another 75 basis points in 2011.China's economy grew 9.6 percent year on year in the third quarter this year, slowing from the 10.3 percent increase in the second quarter and 11.9 percent in the first quarter.The country targets about a 3 percent inflation rate in 2010.