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ADDIS ABABA, Nov. 9 (Xinhua) -- China's top legislator Wu Bangguo said here Sunday that China's relations with Ethiopia have been developing quite rapidly in recent years and have been pushed up to a higher level. He made the statement during talks with Speaker of Ethiopian Council of People's Representatives Teshome Toga. "Since our countries established foreign relations with each other, especially, since their comprehensive cooperation partnership was formed in 2003, high-level exchanges between our two countries have been more frequent and bilateral trade has been shooting up," Wu said. "Now our relations have ushered in a new era," he added. Wu said that both China and Ethiopia are developing countries and therefore face the similar issues such as economic development. The rapid booming of both economies have provided new opportunities for deeper and wider cooperation. "This is conducive to the welfare and the basic interests of both countries and peoples, as well as constructive to world's peace and prosperity," Wu said. The Ethiopian speaker agreed with Wu's comments on relations of the two countries and said that Wu's Africa tour, especially, the visit to Ethiopia, is of high importance and can further boost bilateral ties. Teshome Toga also thanked China for its unconditional support for Ethiopia, adding that the two countries can cooperate better in trade, investment and finance sectors. He said that Ethiopia will, as it has done in the past, continue to stick to "One China" policy and Wu expressed his appreciation for his Ethiopian counterpart's firm commitment as such. Wu is on a five-African nation tour. Ethiopia is the third leg of his two-week-long visit to Africa.
BEIJING, Jan. 4 (Xinhua) -- Major Chinese lenders are expanding a preferential policy on house loan interests to cut the burden of the country's home buyers hit by the spreading financial crisis. For individuals who bought houses on mortgage lending before Oct. 27, 2008 and have not paid off the loans, their credit interest rates could be reduced to 70 percent of the benchmark rate from the previous 85 percent, customer service staff of several banks told Xinhua on Sunday. The discount will be available for Beijing, Shanghai and Qingdao clients of the China Construction Bank after their applications go through default record checks. The Bank of China branch in Shanghai is also providing the preference but the Beijing branch keeps the rate unchanged. The Industrial and Commercial Bank of China, the country's largest lender, and the Agricultural Bank of China are also making specific rules for similar rate discounts. China's central bank announced in October it would reduce the lower limit of interest rates on individual house loans to 70 percent of the benchmark credit rate from 85 percent, starting from Oct. 27 last year. The move was viewed as a stimulus to the flagging property market but it has been unclear whether house mortgage deals before that date can enjoy the favor. Under the rate discount, home buyers with a 500,000-yuan (73,500 U.S. dollars) bank loan to be paid off within 20 years can save nearly 60,000 yuan of interest, analysts estimate.

LIMA, Nov. 20 (Xinhua) -- Foreign and trade ministers from the 21 member economies of the Asia Pacific Economic Cooperation (APEC) forum on Thursday called for joint efforts to overcome the ongoing global financial crisis and revive the Doha Round trade negotiations. "APEC economies are committed to implementing all necessary measures to bolster the real economy and boost investment and consumption levels in the region," said a joint statement released by the ministers after a two-day Asia-Pacific Economic Cooperation (APEC) Ministerial Meeting in the Peruvian capital. "Ensuring a rapid, coordinated and effective response to the current global financial crisis is the highest priority for APEC economies and will be the focus of attention" when APEC leaders meet on the weekend, said the statement. The APEC ministers met in Peru during the "most difficult set of economic conditions" since APEC was created in 1989, it said. Peruvian Foreign Minister Jose Garcia Belunde, who chaired the meeting, said the ministers have reaffirmed their opposition to trade and investment barriers. The ministers have agreed to continue to "strengthen consumption level in the region and expand trade activities," he said. "We've decided to continue supporting the multilateral trade system, including the World Trade Organization, and to support a conclusion to the Doha trade round," he said. Australian Trade Minister Simon Crean said the APEC ministers not only have reached an consensus to push forward the Doha talks but also agreed on the direction to conclude it. Crean called on the APEC leaders to make commitment based on the action plan adopted by the G-20 countries in Washington earlier this month, noting that nine of the APEC members participated in the Washington meeting. "Commitement at various levels" are required to deal with the financial crisis, he said. U.S. Trade Minister Susan Schwab said world leaders should learn from the Great Depression in the 1930s and prevent a "prolonged and deepening" crisis from taking place. Schwab noted that the G-20 nations had made it clear that trade barriers and protectionism will not be an option during the crisis and it is vital to conclude the Doha talks as soon as possible. The world economies should "use trade in a positive way" to avert the crisis, she said. "We will do everything we can" to push forward the Doha talks, she added. Singapore Trade and Industry Minister Lim Hng Kiang said APEC has yet to confront many challenges and the financial crisis is likely to top APEC's agenda next year when Singpore takes over as the chair. The 20th APEC Ministerial Meeting started on Wednesday to make final preparations for the APEC Leaders' Meeting this weekend.
SAN JOSE, Nov. 17 (Xinhua) -- Visiting Chinese President Hu Jintao on Monday spoke highly of the rapid development of China-Costa Rica relations and pledged efforts to further expand bilateral cooperation in various fields. During talks with Costa Rican President Oscar Arias Sanchez on the second day of his state visit to the Central American nation, Hu said mutually beneficial cooperation in various fields has been growing steadily. Noting the fast growth in bilateral ties over the past year, the Chinese president said the two countries have also carried out fruitful cooperation in international and regional affairs. Chinese President Hu Jintao(L) meets with Costa Rican President Oscar Arias(R) in San Jose, Costa Rica, Nov. 17, 2008 "Facts have proven that the establishment of diplomatic ties between China and Costa Rica conforms to the fundamental and long-term interests of both countries and peoples," Hu said. The two countries set up diplomatic ties in June 2007. "The enhancement of Sino-Latin American mutually beneficial cooperation is conducive for our common development," Hu said, noting that the Chinese government has issued a Policy Paper on Latin America and the Caribbean recently. The two countries should make efforts to push for long-term, sound and stable development of bilateral ties and cooperation, Hu said. "China is ready to work with Costa Rica to open up a bright future for bilateral ties characterized by mutual respect, equality, mutual benefit, sincere cooperation and friendship for generations to come," he added. On economic cooperation, Hu said the two countries should strengthen their cooperation mechanisms and expand areas of cooperation. Hu hoped the two sides would reach agreement on a free trade pact at an early date, in the spirit of friendly consultations and mutual understanding and accommodation. The Chinese government will continue to encourage competent Chinese enterprises to invest in Costa Rica, he said. It will also support pragmatic cooperation between enterprises of the two countries in such key areas as infrastructure, agriculture, telecommunications and energy, he added. Arias agreed with Hu's views and stressed the importance of strengthening trade and economic ties with China. Costa Rica hopes to strengthen cooperation with China in port construction, development of high-tech parks as well as Chinese language teaching, he said. Arias said he hoped the two countries would establish a dialogue mechanism at a higher level so as to further promote the development of bilateral ties. The two leaders also exchanged views on the global financial crisis and agreed to strengthen coordination and cooperation in international affairs. After their meeting, the two leaders witnessed the signing of 11 cooperation agreements on trade, economy, finance, energy, education and technology, and announced the launch of bilateral negotiations on a free trade pact. China is Costa Rica's second biggest trading partner. In 2007, bilateral trade amounted to 2.8 billion U.S. dollars, a 33-percentincrease over the previous year. Also on Monday, Hu met with Francisco Pacheco, president of the Costa Rican Legislative Assembly. The Costa Rican legislators come from different political parties, but they have the consensus on maintaining and developing the friendship between the two countries, Hu said. The Chinese president hoped the two countries' legislative bodies would strengthen contacts and make efforts to promote mutual understanding. He also expressed the hope that Costa Rican legislators would play a greater role as a bridge linking up the two countries' business groups, cultural bodies, scientific institutes, news media and local governments in efforts to consolidate and expand the social foundation for the friendship between the two nations, Hu said. Pacheco said the establishment of diplomatic ties has helped promote mutual understanding and friendship between the two peoples and also created a favorable environment for strengthening bilateral economic and trade cooperation. After the establishment of diplomatic ties with China, Costa Rica now has an "important friend and partner" in the world, he said. Speaking at the meeting, many Costa Rican legislators from different political parties agreed that the establishment of diplomatic ties is of strategic significance. They also thanked China for providing support and help for Costa Rica in its economic and social development. The Chinese president, who is on a five-nation tour, flew in on Sunday from Washington, where he attended a Group of 20 summit on the current international financial crisis. This is the fist state visit by a Chinese head of state to Costa Rica and Central America. He will also visit Cuba, Peru and Greece, and attend the Economic Leaders' Informal Meeting of the Asia-Pacific Economic Cooperation (APEC) forum in the Peruvian capital of Lima.
DESTROYER WUHAN, Dec. 30 (Xinhua) -- A Chinese naval fleet en route to the Gulf of Aden and waters off Somalia for an escort mission against pirates completed its first replenishment at sea Tuesday. The fleet, two destroyers and a supply ship, has entered the Indian Ocean after a four-day voyage which set sail from China's southernmost island province of Hainan. In the afternoon, the supply ship Weishanhu successfully refueled the two destroyers Wuhan and Haikou with several hundred tons of oil, an operation that an official for fleet support described as "highly efficient." The fleet will cruise for about 10 days before arriving in the Gulf of Aden to join a multinational patrol in one of the world's busiest sea lanes endangered by surging piracy. The recent pirate attack on a Chinese fishing vessel has raised great concern of the Chinese government and people. Statistics showed that some 1,265 Chinese commercial vessels have passed through the gulf so far this year and seven have been attacked. The UN Security Council has adopted four resolutions calling on all countries and regions to help patrol the gulf and waters off Somalia since June. The latest resolution authorized countries to take all necessary measures in Somalia, including in its airspace to stop the pirates. A helicopter of the Chinese naval fleet attends a landing exercise at night on Dec. 28, 2008, while the Chinese naval fleet heads for the Gulf of Aden. The Chinese naval fleet including two destroyers and a supply ship set off on Dec. 26 for waters off Somalia for an escort mission against piracy
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