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BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.

HANGZHOU, Sept. 14 (Xinhua) -- China's top political advisor, Jia Qinglin, called for more efforts to step up the transformation of the nation's economic growth mode and ecological protection for better development in the next five years.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks during a five-day inspection tour in eastern Zhejiang Province that concluded Tuesday, visiting rural areas, towns, factories and companies.Jia urged in-depth research over new circumstances for an "elaborate planning" for the five years to 2015.Jia Qinglin (2nd R, Front), chairman of the National Committee of the Chinese People's Political Consultative Conference, who is also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, inspects development of new and clean energy in a company in Changxing, east China's Zhejiang Province, Sept. 12, 2010. Jia made an inspection tour in Zhejiang Province from Sept. 10 to 14.Jia also inspected progress in energy savings and emission cuts, development of new and clean energy, and ecological protection in Zhejiang, vowing that China would stick to environment-friendly and energy-efficient development and improve ecological protection.Jia also called for more efforts on protection of forests and marine environment, energy conservation and emission reductions, along with development of a sustainable economy.

NEW YORK, Sept. 23 (Xinhua) -- The foreign ministers of China and 42 African countries, or their representatives, held their second political consultation in New York on Thursday. Following is the full text of a joint communique issued at the end of consultations:JOINT COMMUNIQUE OF THE SECOND ROUND OF POLITICAL CONSULTATIONS BETWEEN CHINESE AND AFRICAN FOREIGN MINISTERSNew York, 23 September 2010 Chinese Foreign Minister Yang Jiechi (L, front) chairs the second political consultation between the foreign ministers of China and African Countries at the UN headquarters in New York, Sept. 23, 2010.In accordance with the mechanism of regular political dialogue between Chinese and African Foreign Ministers set up at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), the Foreign Ministers of China and 42 African countries, or their representatives, held their second political consultation in New York on 23 September 2010. The Chairperson of the African Union ( AU) Commission was invited to the consultation.The meeting was co-chaired by the People's Republic of China and the Arab Republic of Egypt, the two co-chair countries of FOCAC.The Chinese and African sides had an in-depth exchange of views on strengthening China-Africa cooperation in international affairs, making progress towards the Millennium Development Goals (MDGs) and promoting peace and security in Africa. They reached the following consensus:1. The two sides applauded FOCAC's important role in guiding the comprehensive and fast growth of China-Africa friendship over the past 10 years since FOCAC's inception, and its contribution to South-South cooperation, common development and the building of a harmonious world. They reaffirmed the commitment of FOCAC member countries to improving the institutional building of FOCAC, strengthening practical cooperation in various areas within the FOCAC framework, enriching the Forum and promoting in-depth development of the new type of China-Africa strategic partnership.2. The two sides expressed satisfaction with the comprehensive implementation of the follow-up actions of the FOCAC Beijing Summit. They highly appreciated the fact that despite the adverse impact of the global financial crisis, the Chinese government announced new measures for enhancing China-Africa cooperation at the 4th FOCAC Ministerial Conference held in Sharm El Sheikh in 2009.

FUZHOU, Aug. 27 (Xinhua) -- China has begun efforts to build the largest regional cooperation platform, covering a geographical area that produces around one-third of the country's GDP.As key to this effort, on Friday, the 6th Pan Pearl River Delta (PPRD) Regional Cooperation and Development Forum opened in Fuzhou, capital of southeast China's Fujian Province.The forum, scheduled to run from Aug. 27-31, is celebrated the theme of "deepening cooperation and seeking common development". It has attracted more than 10,000 participants, including officials, entrepreneurs and celebrities from the Chinese mainland, Hong Kong and Macao special administrative regions, as well as Taiwan.The forum, begun in 2004, seeks to stimulate the economy within the pan-Pearl River Delta region, which covers Hainan, Yunnan, Hunan, Guangdong, Jiangxi, Fujian, Sichuan, Guizhou, Guangxi, as well as Hong Kong and Macao special administrative regions.This move would help enhance regional cooperation, encourage labor mobility and accelerate the relocation of industry from China's well-off coastal region to the comparatively underdeveloped western region, said Xu Shangwu, secretary general of the Organizing Committee of the forum.This would improve the comprehensive economic strength and global competitiveness of the entire region, he said.During the previous five PPRD forums, more than 14,000 cooperative projects have been agreed, with their total investments exceeding 1.8 trillion yuan (264.71 billion U.S. dollars), according to government statistics.The GDP of the nine provincial regions in the Chinese mainland totaled 10.5 trillion yuan last year, up 11.8 percent from one year earlier. The growth rate was higher than the national GDP increase.In addition to boosting the growth and cooperation in the pan-Pearl River Delta, China is also accelerating regional development in the northeastern region, Yangtze River Delta region, Bohai rim region, as well as the pan-Beibu Gulf Economic Zone.

BEIJING, Aug. 27 (Xinhua) -- China's top legislature held an inquiry Friday into the government's report on grain safety in an effort to improve the legislative supervisory role.Entrusted by the State Council, or China's Cabinet, senior officials from nine government agencies, such as the National Development and Reform Commission (NDRC), attended the inquiry to answer questions raised by lawmakers at a bimonthly session of the Standing Committee of the National People's Congress (NPC), the country's top legislature.Such inquiries are believed to be a concrete and important step for the top legislature to exercise and improve supervision of the government.Zhang Ping, minister in charge of China's top economic planning body, the NDRC, issued the report on the country's grain safety on Thursday and lawmakers began to deliberate and make inquiries on the report on Friday.This is the second inquiry held by the top legislature this year. In its June session, lawmakers held an inquiry into the central government's final accounting for 2009.INTENSE Q&A SESSIONThe NPC Standing Committee's vice chairwoman, Oyunqemag, and 21 other lawmakers peppered government officials with more than 20 questions at the inquiry.Responding to a question on the impact of frequent natural disasters including drought, freezing weather and floods on this year's harvest, Vice Agriculture Minister Chen Xiaohua admitted that grain production has been negatively impacted.Chen, however, said because the central authority introduced preferential policies in a timely manner, the grain crops harvested in the summer maintained the same level as in previous years, though the harvest of early rice dropped a bit.He also said he was optimistic about the harvest in autumn, which accounts for more than 70 percent of the country's grain output because the seeded area has been increased and the growth of the crops was good at present.