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DAKAR, Feb. 5 (Xinhua) -- Chinese President Hu Jintao will pay a state visit to Senegal on Feb. 13-14, during which the two countries will sign new agreements on economic and technical cooperation, the Chinese ambassador in the West African country announced here on Thursday.     At the invitation of his Senegalese counterpart Abdoulaye Wade, President Hu will make the visit to further enhance the friendly ties between the two countries since diplomatic relations were resumed in October 2005, Chinese Ambassador Lu Shaye told a press conference.     The visit is part of the Chinese president's five-nation trip on Feb. 10-17, which will also take him to Saudi Arabia, Mali, Tanzania and Mauritius.     The Chinese Foreign Ministry said on Tuesday that Hu's visit is aimed at further consolidating China's friendship and cooperation with these countries, strengthening China's cooperation with the Cooperation Council for the Arab States of the Gulf, and promoting the implementation of the measures announced at the 2006 Beijing Summit of the Forum on China-Africa Cooperation.

BEIJING, March 19 (Xinhua) -- Chinese President Hu Jintao met Thursday with the Premier of the Democratic People's Republic of Korea (DPRK), Kim Yong Il.     Hu reviewed 60 years of China-DPRK ties, saying the friendship, initiated and fostered by the older generation of leaders, had withstood the test of international and domestic changes.     "The friendship, which has kept developing, has become the common treasure of both nations," Hu said. Chinese President Hu Jintao (R Front) meets with Premier of the Democratic People's Republic of Korea (DPRK) Kim Yong Il (L Front) at the Great Hall of the People in Beijing, capital of China, March 19, 2009    The DPRK was among the first countries to establish diplomatic relations with China. The two countries forged diplomatic relations on Oct. 6, 1949, days after the People's Republic of China was founded.     Hu said the Communist Party of China and the Chinese government attach great importance to ties with the DPRK. China would like to work with the DPRK for a better good-neighbor cooperation.     Kim came to China on an official goodwill visit and launched the China-DPRK Friendship Year in Beijing, a year-long exchange program marking the 60th anniversary of diplomatic relations.     "We should take the opportunity of the friendship year to carry forward our traditional friendship, deepen strategic communication and promote substantive cooperation for a stronger bilateral relations," Hu said.     On the Korean Peninsula nuclear issue, Hu said a question confronting all parties concerned was how to overcome what he termed the current difficulties and resume the six-party talks at an early date.     "We hope parties concerned will take the overall situation into consideration and properly resolve the differences in a bid to promote the further progress of the talks," Hu said.     Initiated in 2003, the talks involve China, the DPRK, the United States, the Republic of Korea, Russia and Japan. The last round of talks, held in Beijing in December, failed to make any substantive progress.     Kim, who was on his first visit to China since taking office in April 2007, hailed the deeply rooted DPRK-China friendship.     "Under the leadership of both countries, DPRK-China relations have developed soundly in recent years," Kim said.     He said the DPRK would unswervingly develop friendly cooperation with China and carry forward the bilateral traditional friendship.     "The DPRK will, as always, make unremitting efforts to cement and develop friendly ties with China," he said.     Kim said the DPRK people were happy about the significant achievements the Chinese people had made in economic and social development.     During his five-day visit, Kim first traveled to east China's Shandong Province and talked with his Chinese counterpart, Wen Jiabao, Wednesday.

BEIJING, April 4 (Xinhua) -- The import and export of electronic and information products in China went down 30.3 percent year on year in the first two months, data released by the Ministry of Industry and Information Technology showed on Friday.     The combined import and export value was 87.61 billion U.S. dollars through January to February.     In breakdown, export fell 26.1 percent from the same time a year ago to 53.55 billion U.S. dollars. Import was down 36.07 percent to 34.06 billion U.S. dollars.     The import value of LCD panel, a main component in flat-panel television, declined 48.8 percent to 1.82 billion U.S. dollars.     The export value of processing trade with imported material, which comprised more than two thirds of the total export, was down 25.4 percent to 37.86 billion U.S. dollars.     China's export, a driving force of the world's third largest economy, plummeted 25.7 percent year on year in February, the worst decline in more than a decade, as global demand deteriorated amid the deepening recession.

BEIJING, Feb. 13 -- Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year, prompting some economists to say the government might not cut interest rates for the time being to boost the economy.     The massive jump in lending is equal to about one-third of the loans issued in the whole of 2008, a year that began on a generally tight credit line, the central bank said yesterday. M2, which includes cash and all types of deposits and indicates overall liquidity in the financial system, grew in January, too, by 18.8 percent year-on-year. It increased 17.8 percent in December.     The massive growth in lending comes at a time when banks are rushing to cherry-pick the juiciest stimulus-package projects, especially major infrastructure ones that need long-term investment, the economists said. Chinese banks issued 1.62 trillion yuan (7 billion) in new loans in January, up 101 percent year-on-year    The government announced a 6-billion package on November 9 to boost domestic demand and shore up investment. Though the central government will shoulder one-third of the cost, banks will play an important role in financing the construction of bridges, railways and highways.     "The banks are fighting for the best projects in the government's stimulus package," said Ha Jiming, chief economist of China International Capital Corp. "It's not surprising to see that an array of the deals were sealed in the past month."     "The massive lending growth minimizes the need to further cut interest rates heftily," said Lian Ping, chief economist with Bank of Communications. "The liquidity problem should ease with such a growth."     The central bank has cut the benchmark lending rate by 2.16 percentage points in the past four months and reduced the deposit reserve requirement ratio in order to ensure there's enough liquidity in the market to boost the economy.     The growth in lending could also prove to be a blessing for cash-strapped domestic enterprises trying to stay afloat amid shrinking overseas demand and waning consumer confidence.     Central bank figures show bill financing, which supplies working capital, accounted for 39 percent of the new loans.     Medium and long-term corporate loans made up 32 percent.     "It (growth) reduces the default risks of domestic firms, which in turn eases worries over bank asset quality at least in the short term," said Sun Mingchun, an economist with Nomura International.     The economists said the dramatic rise in lending could be partly attributed to pent-up demand for loans last year.     The central bank had imposed a curb on lending till November last year to combat inflation and prevent the economy from overheating.     That left "many firms, especially small- and medium-sized ones, facing a severe cash flow problem", Sun said.     Policymakers lifted the curb in November and raised the target for M2 growth to 17 percent for 2009, up from 16 percent that had been in practice since 2006.     The move is expected to ensure there's enough liquidity in the market to spur investment and boost the economy, whose growth dropped to a seven-year low of 6.8 percent in the fourth quarter last year.     "Credit expansion in the first quarter of this year is expected to be very high because banks can maximize investment returns by front-loading new loans," said Jing Ulrich, managing director and chairwoman of China Equities at JP Morgan.     But Ulrich cautioned against a possible rise in credit risk because the increase in liquidity could cause a sharp rise in banks' non-performing loans.

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