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CARACAS, Feb. 17 (Xinhua) -- Visiting Chinese Vice President Xi Jinping delivered a keynote speech at a seminar here Tuesday, elaborating on bilateral ties, cooperation and common development between China and Venezuela.        BRIGHT FUTURE FOR BILATERAL TIES     In his speech at the opening ceremony of a seminar attended by entrepreneurs from both China and Venezuela, Xi said bilateral ties have seen comprehensive and fast growth since the establishment of diplomatic ties 35 years ago, particularly after the two countries built their strategic partnership for common development in 2001. Chinese Vice President Xi Jinping makes a speech at a business seminar in Caracas, Venezuela, Feb. 17, 2009. Xi arrived in Caracas Tuesday for an official visit to Venezuela. Both sides have enjoyed close high-level exchanges, strengthened mutual political trust and fruitful cooperation in all areas, he said.     Venezuela has become China's fourth biggest oil provider and fifth largest trade partner in Latin America, with bilateral trade volume reaching a record 9.85 billion U.S. dollars in 2008 -- a year-on-year increase of 68.2 percent, said Xi.     He noted that the strengthening of friendly, mutually beneficial cooperation is in keeping with the fundamental interests of both peoples. It is also conducive to the common development of the two countries as well as to relations between China and Latin America as a whole. Chinese Vice President Xi Jinping (1st L) talks with Venezuelan President Hugo Chavez (1st R) at a business seminar in Caracas, Venezuela, Feb. 17, 2009Xi said he had held "very fruitful talks" with Vice President Ramon Carrizales on Tuesday.     "We both are very enthusiastic and determined to develop friendly cooperation between our two countries."     To that end, Xi proposed that both China and Venezuela focus on the following four aspects:     First, both nations should focus on common development and boost mutual political trust. China and Venezuela should view each other from a strategic perspective and adhere to the principles of mutual trust, mutual assistance, reciprocity and mutual benefits. Chinese Vice President Xi Jinping (L) shakes hands with Venezuelan President Hugo Chavez at a business seminar in Caracas, Venezuela, Feb. 17, 2009"We should reinforce political dialogue, broaden strategic common grounds, deepen mutual political trust, constantly enrich the contents of strategic partnership, and promote a long-term stable reciprocal cooperation in an all-around way," the Chinese vice president said.     Secondly, he said the two countries should further improve their cooperative mechanism and upgrade cooperation.     This mechanism, namely the Sino-Venezuelan inter-governmental commission founded eight years ago, "has played an active role in communication and collaboration, under which great progress has been made in cooperation in all areas," said Xi.     He expressed hope that the commission would continue to play its guiding and coordinative role in laying the groundwork of pragmatic cooperation and opening new fields of cooperation.     He also proposed setting up a council for entrepreneurs from both countries.     Thirdly, Xi said China and Venezuela should boost cooperation in energy and finance.     Energy cooperation is a priority and constitutes an important part of bilateral cooperation, he said, expressing hope that the two sides would make a joint effort to push forward an all-around energy partnership.     Xi also said that both nations had agreed to increase their contributions to a joint fund to finance projects in either country.     Finally, Xi said the two countries should explore more fields and channels for cooperation. Apart from energy cooperation, they should better tap the cooperation potential in agriculture, infrastructure and high-tech, as well as promote projects in the housing, railway, telecommunication and electric power sectors.     "We deeply believe that through concerted efforts, China and Venezuela will surely have a bright future of cooperation," Xi said.     BETTER COOPERATION AND COMMON DEVELOPMENT     The Chinese vice president said the scope and pace of cooperation between China and Latin America has reached an "unprecedented" level since the beginning of the new century.     Bilateral trade reached 143.39 billion U.S. dollars in 2008, 39.7 percent up from the previous year and 10 times that of 2000, Xi noted.     Meanwhile, mutual investment has been growing with areas of cooperation being expanded, he said, adding that trade and economic cooperation has shown excellent prospects for all-around development.     China, the largest developing country in the world, is ready to join hands with Latin America, one of the world's major developing regions, to push forward their cooperation and raise it to a still higher level, he said.     China and Latin American nations -- whose combined population makes up a fourth of the world's total -- are all at a crucial stage of socio-economic development, he said.     Under the current circumstances, while standing up to the serious challenges brought about by the global financial crisis, one should not lose sight of the new emerging opportunities for all-around cooperation between the two sides, he said.     The vice president put forward a four-point proposal for strengthening all-around cooperation for common development.     First, he said efforts should be made to promote mutual political trust, bearing in mind the importance of long-term development of friendly cooperation.     China is ready to maintain high-level visits and contact with Latin American nations and favors increased bilateral understanding and support on issues of mutual concern, he said.     Both sides should strive to improve the existing bilateral and multilateral mechanisms of political consultation and dialogue and coordinate cooperation in various fields from a strategic height and long-term perspective.     In the face of the global financial crisis, China is ready to work with Latin American nations to strengthen coordination and boost confidence so as to contribute to the stable growth of the global economy, Xi said.     Second, mutual cooperation should be deepened, said the Chinese vice president.     China is ready to continue to expand trade and mutual investment with Latin American nations, push forward pragmatic cooperation in such key areas as energy, finance, agriculture, manufacturing, infrastructure and the high-tech industry.     The Chinese government is ready to join hands with Latin American governments to further promote strategic cooperation between companies from both sides and make continued efforts to ensure greater success in hosting the China-Latin America Business Summit and the China-Caribbean Economic and Trade Cooperation Forum, he added.     Third, efforts should be made to boost human and cultural exchanges, with a view to cementing the foundation of the China-Latin American friendship.     China is ready to enhance exchanges with Latin American nations in the fields of culture, education, health, sports and tourism, and carry out practical cooperation in poverty alleviation, social security, environmental protection and disaster relief.     Both sides should also expand exchanges between youth and women's organizations as well as media bodies and academic institutions in efforts to promote understanding and friendship between the Chinese and Latin American peoples, Xi said.     Fourth, both sides should strengthen consultation and cooperation in international affairs.     China is ready to strengthen coordination with Latin American nations, through participating in regional and international organizations or other multilateral mechanisms, and jointly safeguarding the legitimate rights and interests of developing nations.     Both sides should work together to push for the establishment of a global economic system for sustainable development, an inclusive international financial system, a fair and equitable international trading system and a fair and efficient global development system.     Both sides should urge developed countries to fulfill their commitments in terms of increasing investments and aid, reducing trade barriers, speeding up technology transfer and reducing and writing off debts, he said.     China is a staunch force for maintaining world peace and the Chinese people are trustworthy friends of the Latin American people, said Xi.     China and Latin America enjoy a profound traditional friendship and share broad common interests. China is ready to work with Latin American nations to write a new chapter in the efforts to establish partnership for all-around cooperation, said the vice president.     Venezuelan President Hugo Chavez was present during Xi's address.     Xi arrived Tuesday in Caracas for an official visit to Venezuela, the fourth leg of his six-nation tour, which will also take him to Brazil and Malta. He earlier visited Mexico, Jamaica and Colombia.     In November 2008, China issued its first Policy Paper on Latin America and the Caribbean, seeking to build and develop a comprehensive and cooperative partnership featuring equality, mutual benefit and common development with the region.

BEIJING, March 3 (Xinhua) -- The Chinese antique collector who bid at a Christie's auction for two looted bronze animal heads, Tuesday told why he has refused to pay his winning bid.     The two looted pieces were not allowed to enter China according to a regulation issued a day after the auction by China's cultural relics administration, and as a result, the payment should not be made, Cai Mingchao said in a statement released by the National Treasure Funds of China (NTFC).     China has repeatedly demanded the return of the sculptures -- heads of a rat and a rabbit -- looted when the Old Summer Palace (Yuanmingyuan) was burned down by Anglo-French allied forces during the Second Opium War in 1860.     "The auction negated the history that the cultural relics were looted, defied the ethics of international society, and breached the rules of commercial auctions," Cai said in the statement, which was e-mailed to Xinhua.     Cai said that the sculptures would disappear forever and auctioning looted antiques could become a commercial practice had he not been the final bidder at the auction in Paris on Feb. 25.     "I got the chance and I was capable of buying the bronzes at the time of the auction. As a Chinese collector and art advisor, I'm willing to rescue looted artworks," Cai, NTFC's collection advisor, emphasized.     Cai won the auction by bidding 31.49 million euros (39.63 million U.S. dollars) by telephone, but he told a press conference Monday that no payment would be made.     So far, five of the 12 bronze animal heads have been returned, while the whereabouts of five others are unknown.     An online survey conducted by sina.com.cn showed more than 70 percent of the netizens support Cai's patriotic action for he had safeguarded China's interests. However, others said China's reputation would be affected and Christie's is still able to hold new auctions.     An attempt to contact Cai failed and employees of his company in Xiamen, Fujian Province, said they had lost contact with their boss since Monday.     The company was established in 2003 with a registered capital of 1.16 million yuan (nearly 170,000 U.S. dollars) and more than 10 employees. Cai owns 95 percent of the company's shares.     Chinese Foreign Ministry spokesman Qin Gang reiterated on Tuesday that the looted sculptures were originally owned by China and China opposed any auction of these cultural relics and demanded their return. Qin said he learned the bidder was Chinese on Monday after the news conference.     Christie's has not made any official comment over the issue so far.     NTFC was established in 2002 under the administration of China Foundation for the Development of Social Culture registered under the name of the Ministry of Culture for the purpose of repatriating looted Chinese artifacts.

BEIJING, March 30 (Xinhua) -- Aluminum Corporation of China Ltd. (Chalco), reported a 99.9 percent plunge in full-year net profit to 9.2 million yuan (1.35 million U.S. dollars) in 2008, due to product price fluctuations on the international market, the company's annual report revealed Monday.     "The company suffered major losses from the snowstorm at the beginning of last year, and the earthquake disaster," said the statement.     The shock from the financial crisis, rises in raw material prices and consecutive plunges of finished product prices had posted "unprecedented difficulties and challenges" for the company, said the statement.     Chalco's business turnover reached 76.73 billion yuan, down 9.94 percent from last year, largely because of a decline in product prices, said a statement submitted to the Shanghai Stock Exchange.     The price of alumina, a major type of aluminum product, which at one point reached 4,500 yuan per tonne in the domestic market in 2008, dropped to 1,900 yuan per tonne as demand shrank drastically because of the financial crisis, said the statement.     Board chairman Luo Jianchuan said the company should actively cope with the problem, which would persist in 2009. Measures should be taken to cut cost, control investment, and maintain stable production.     Though estimated to suffer losses in the first quarter this year, Chalco was confident it would "get over the difficulties and have a bright prospect," said Luo.     Share prices of Chalco on Shanghai Stock Exchange plunged more than 4 percent to 10.46 yuan Monday morning.     Aluminum Corporation of China (Chinalco), Chalco's parent company, had obtained support from four Chinese banks, including the Bank of China (BOC), to finance its bid for the world's third largest miner Rio Tinto.     They have signed agreements to provide 21 billion U.S. dollars worth of syndicated loans to support the bid.

BEIJING, March 22 (Xinhua) -- Chinese Vice Premier Li Keqiang said here Sunday China is confident and capable of achieving its 2009 economic targets and will strengthen cooperation with the international community to fight the global financial crisis.     Despite the financial crisis impact that increased difficulties for economic operations, "the fundamentals of Chinese economy and its good outlook in the long term have not changed," said Li at the opening of the China Development Forum 2009.     China has set an 8-percent target for annual economic expansion this year after diminishing foreign orders dented exports and slowed growth to a seven-year low of 9 percent year-on-year in 2008.     To boost domestic consumption and growth, the government will exert itself to tackle issues of immediate concern to ordinary Chinese citizens such as employment, education, health care, housing and environmental protection, said Li. Chinese Vice Premier Li Keqiang addresses the opening ceremony of the China Development Forum 2009 in Beijing, capital of China, March 22, 2009    The country will speed up the building of a social security system covering both urban and rural residents and gradually perfect the social safety net that guarantees people's basic livelihood, he said. "This helps adjust income distribution and raise people's spending capabilities."     In addition, Li pledged stronger moves in reforming pricing, taxation and financial mechanisms to remove "institutional barriers" on the way of development.     Reform plans must be well-implemented, said Li. They included an 850 billion-yuan (124 billion U.S. dollars) medical reform plan and a comprehensive value-added tax (VAT) reform to cut enterprise and individual burdens by approximately 500 billion yuan this year.     Li also promised to maintain a stable scale of foreign trade and use of foreign capital, saying China will further open up and make use of markets and resources both at home and abroad.     China's foreign direct investment fell for the fifth consecutive month in February to 5.83 billion U.S. dollars, down 15.81 percent year-on-year. Its foreign trade was 124.95 billion U.S. dollars last month, down 24.9 percent year-on-year.     "While managing its own affairs well, China is willing to join hands with other countries and play an active role in international cooperation against the financial crisis," said Li.     The continuous growth of China's economy not only concerns the wellbeing of 1.3 billion Chinese but is also a great contribution to the world economy, he told the forum.     He called on all countries to take actions together to promote future growth of the world economy, saying the crisis should bring about "profound thinking about the world economic development and the human kind's future destiny".     People of insight in all countries should dig the deep roots of the global financial crisis and explore effective ways of preventing the crisis from spreading and avoiding a replay of such crises, said Li.     The China Development Forum 2009 runs in Beijing from Saturday to Monday with the theme of China's Development and Reform in the Global Financial Crisis.