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TOKYO, March 29 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), arrived in Tokyo to kick off his official goodwill visit Sunday afternoon. Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, conveyed sincere greeting from the Chinese people to the Japanese people in a written statement delivered at the airport. "China and Japan are important countries in Asia and the world at large. Chinese President Hu Jintao paid a successful visit to Japan last year, during which the leaders of the two countries reached important consensus to fully advance the China-Japan strategic relations of mutual benefits," he said in the statement. "Sino-Japanese relations now stands in a new historic point and faces an important opportunity to go further ahead," he said. "With concerted efforts made by both, I believe the visit can meet the pre-set goal of increasing political mutual trust, deepening mutually beneficial economic cooperation, expanding friendly communication and pushing forward our strategic relations of mutual benefits," he said. Li is the highest-ranking official who visits Japan this year. Soon after his arrival, Li met with Japanese Foreign Minister Hirofumi Nakasone. Li is expected to meet with Japanese Prime Minister Taro Aso Monday. During his stay, he will also meet with leaders of ruling and opposition parties and people from all walks of life. Japan is the third leg of Li's four-nation tour which will also take him to the Republic of Korea. He has already visited Australia and Myanmar.
SANMEN, Zhejiang, April 19 (Xinhua) -- China on Sunday started the construction of its first third-generation pressurized water reactors using AP 1000 technologies developed by U.S.-based Westinghouse. The reactors, located in Sanmen of east China's Zhejiang Province, will also be the first in the world using such technologies. The Sanmen Nuclear Power Plant will be built in three phases, with an investment of more than 40 billion yuan (5.88 billion U.S. dollars) injected in the first phase. The first phase project will include two units each with a generating capacity of 1.25 million kw. Photo taken on April 18, 2009 shows the foundational construction site of the No.1 unit of the first phase of the Sanmen nuclear plant in Zhejiang Province. The Sanmen nuclear plant, with the world's first nuclear plant using the AP1000 technologies, a type of third generation nuclear power reactor introduced by America's Westinghouse company, started the construction recently The first generating unit will be put into operation in 2013, and the second, in 2014. The plant will eventually have six such units. "It is the biggest energy cooperation project between China andthe United States," said Zhang Guobao, vice minister in charge of the National Development and Reform Commission and also head of the National Energy Administration. "It will contribute to the human kind's peaceful use of nuclear power," he said. China launched bidding in 2003 for its nuclear power stations of the third generation. Foreign companies including Westinghouse, France's Areva and Russia's AtomStroy Export are major bidders. Photo taken on April 18, 2009 shows the foundational construction site of the No.1 unit of the first phase of the Sanmen nuclear plant in Zhejiang Province. The Sanmen nuclear plant, with the world's first nuclear plant using the AP1000 technologies, a type of third generation nuclear power reactor introduced by America's Westinghouse company, started the construction recentlyWestinghouse became the winner after China signed a memo with the United States on the introduction and transfer of third-generation nuclear power technologies in December 2006. The final agreement was inked between China's State Nuclear Power Technology Corporation and Westinghouse in July 2007, according to which China will buy four third-generation pressurized water reactors from Westinghouse. The agreement also involves technology transfer to China. Two of the four pressurized water reactors will be installed in Sanmen of Zhejiang Province and two in Haiyang City, eastern Shandong Province. William Poirier, vice president of Nuclear Power Plants China of Westinghouse Electric Company, said China has a sound nuclear power security system with a strict supervision work. He said he believed China can replicate the experiences of the third-generation nuclear power technologies and build more such stations. China's mainland has 11 nuclear reactors at six plants, all on the east coast, with a combined installed capacity of 9.07 million kw. To meet its fast economic growth, China plans to develop more nuclear power. The country plans to have 40 million kw of installed nuclear capacity on its mainland by 2020, which would be4 percent of projected electricity supply capacity, or double the current level. Of the 11 reactors, three use domestic technologies, two are equipped with Russian technology and four with French technologies, and two are Canadian designed. All the 11 reactors employ second-generation nuclear power technologies. Speaking at Sunday's inauguration ceremony of the first-phase project of the Sanmen Nuclear Power Plant, Chinese Vice Premier Li Keqiang urged making more efforts to develop new energy to ensure the country's energy security and boost economic growth. He underscored innovation as the key to nuclear power development, calling for enterprises to adopt advanced technology and enhance self-innovation. He said it was inevitable that China would need to improve energy structure and enhance energy conservation and emission cuts when resources and environment issues took their toll on economic development.

BEIJING, April 5 (Xinhua) -- China will strengthen oversight of listed securities companies by promoting information transparency. On Saturday, China Securities Regulatory Commission (CSRC) introduced a regulation which said securities companies should remind investors about potential risks when shareholders decide to launch a new business or introduce an innovative business. The annual report and half-year report by listed securities companies should include risk assessment conditions, as well as reasons for risk and probable effects. Photo taken on April 1, 2009 shows a woman smiles before a stock price electronic board in Beijing. China's benchmark composite stock index on the Shanghai Stock Exchange closed at 2408 points on Tuesday In addition to the annual operation report, companies were asked to deliver a supervision and monitoring annual report which includes audit and accounting information. If a company or high-rank official is involved with serious illegal activity, and that results in worsening financial condition, the company should inform all shareholders. The CSRC said the regulation, which was made on the basis of the Securities Law, took effect April 3.
BEIJING, April 3 (Xinhua) -- After a mere four-and-a-half hours, world leaders at the G20 summit in London decided to devote about 1 trillion U.S. dollars to supporting world economic growth and trade, an outcome that surprised many analysts with its scale. But in that scant time, China had a chance to showcase its growing importance in the world economy. China said it would contribute 40 billion U.S. dollars to the International Monetary Fund's (IMF) increased financing capacity. That's only a small portion of the total, but it could take China's IMF voting rights from to 3.997 percent from 3.807 percent. China's new voting share would still far behind that of the United States, which is first with about 17 percent. However, since many countries' voting shares in the IMF are well under 1 percent, any incremental change gives a member just a little extra say in the workings of the multilateral organization. And so the potential change is a small step toward China's goal of having more influence on how the IMF, and the world financial system, operates. HIGHER FINANCIAL STATUS Economists said China's proposed contribution of 40 billion U.S. dollars was in line with its current development level and would mean a more influential voice for Beijing in international financial institutions and in shaping the world economic order. "China's promise of extra funding was a contribution to the world economy and showcased the country's clout," said Zhao Jinping, an economist with the State Council's (cabinet's) Development Research Center. Tang Min, deputy secretary general of the China Development Research Foundation, said the country's voting rights and quota of contributions to multilateral bodies still fell short of its status as the world's third-biggest economy. He said China would further step up its contributions, and influence, as its economic power grew and reforms of the international financial system went forward. Zhao said it was part of a long-term trend for developing countries like China to have more influence in decision-making at international financial institutions, noting that the "obsolete mechanism and structure of world financial organizations" failed to reflect an evolving world economy. British special G20 envoy Mark Malloch-Brown was quoted in the China Securities Journal on Thursday as saying that an overhaul of the world financial system should start with international financial institutions and reforming the IMF meant China's voice must be bigger. The G20 leaders' statement was a "positive signal" in that it gave a timetable for reforming the IMF and the World Bank, said Zhang Bin, an expert with the Institute of World Economics and Politics at the Chinese Academy of Social Sciences, a government think tank. Zhao said China's obligations to international financial institutions should reflect not just the country's size but also the fact that China is still a developing country. He urged China to expand its influence by actively joining multilateral or regional dialogues and offering more proposals on international issues. "It should be a step-by-step process for China to shoulder more responsibility. It can't be accomplished in just one move," said Zhao. LONG ROAD TO REFORM Be it "a turning point," as U.S. President Barack Obama stated, or "a new world order," as British Prime Minister Gordon Brown claimed, the G20 summit was a major step in reshaping the global financial system, but there was still far to go, Chinese economists said. "China should seek to expand its IMF quota and voting rights further after the summit. Although the statement give a timetable for reform, it remains unclear whether the goal can be achieved because that would affect the interests of the United States and the European Union," said Mei Xinyu, a researcher at China's Ministry of Commerce. The G20 statement reads in part: "We commit to implementing the package of IMF quota and voice reforms agreed in April 2009 and call on the IMF to complete the next review of quotas by January 2011." "On the one hand, China could count on the IMF restructuring, and on the other hand, it may start again somewhere else. For instance, it can push forward the establishment of the 120-billion-U.S.-dollar reserve pool agreed by several East Asian countries," Mei said. Leaders of the 10 members of the Association of Southeast Asian Nations plus China, Japan and the Republic of Korea agreed last month to speed up the creation of a foreign-exchange reserve pool of 120 billion U.S. dollars to address liquidity shortages. Mei described the pool as an "Asian Monetary Fund," saying it could partly replace the IMF in Asia and help increase use of the Chinese currency in international trade. Another government economist, Wang Xiaoguang, said the agreement served as a foundation for more concrete policies to tackle the global downturn and this would be good for global stability and China's own economic recovery. Wang added that it was unrealistic to change the global financial order immediately, because it would cause conflicts among major economies. "They will rework the current system rather than introduce a new one," he said. Zhuang Jian, an economist at the Asian Development Bank, said the biggest challenge was how to implement those commitments. China should closely monitor the implementation of the agreement and decide whether its short-term objectives could be realized. "China's appeals will be discussed after the summit," he said, referring to financial market reform and the position of emerging countries in the international financial system. "I think the country will have a bigger say in the global financial system. But the G20 summit is just a forum, and if the global economy worsens, the agreement might end up as nothing more than words," he said.
BEIJING, March 6 (Xinhua)-- China has named its first home-made jumbo jet C919, which will take off in around eight years, its chief designer Wu Guanghui said on Friday. "C represents China as well as COMAC, the abbreviation for Commercial Aircraft Corporation of China, Ltd," said Wu, who is also the deputy general manager of COMAC, the manufacturer of C919. "The name also reflects our determination to compete in the international market for jumbo jet. C919 comes after Airbus and Boeing, so you will have ABC in the aviation industry," said Wu, apolitical advisor who is here attending the annual session of 11thNational Committee of the Chinese People's Political Consultative Conference. The first 9 in the name implies forever in Chinese culture, while 19 means the first jumbo jet produced by China will have 190seats, he said. Wu said that his company will choose suppliers of engines, airborne equipment, and materials through international bidding, and will encourage foreign suppliers to enter into partnership with Chinese manufacturers. "We will choose foreign-manufactured products like engines at the beginning phase, but we will also independently do the research and manufacturing work at the same time," noted Wu. The Shanghai-based COMAC was set up in May, 2008 after approval in early 2007 by the State Council, China's Cabinet. It has a registered capital of 19 billion yuan (2.78 billion U.S. dollars), with the State-owned Assets Supervision and Administration Commission as the biggest shareholder. Wu said the jumbo jet project now involves 47 institutions from China and abroad, and that the preliminary general technical design plan and commercial feasibility study have been completed.
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