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LUSAKA, July 26 (Xinhua) -- Zambian President Rupiah Banda on Monday met with visiting Chinese State Councilor Dai Bingguo, discussing ways to strengthen Zambia-China cooperative relations and further develop friendship between the two countries.President Banda said that Zambia has achieved obvious economic and social progress in recent years and the country has developed into a new page. He contributed this partly to the concrete cooperation with China.It's believed that Zambia will experience new change with further development of bilateral friendship and cooperation, Banda said, expressing hope to keep on high-level exchanges of visits between governments and parties of the two sides, as well as cooperation in all fields such as economy, trade, infrastructure, education and health care, with the aim to push forward Zambia- China relations to a new step.Zambian President Rupiah Banda meets with visiting Chinese State Councilor Dai Bingguo in Lusaka, Zambia, July 26, 2010.The President noted that it is grateful to see active investment from China to Zambia, which did help the country overcome the difficulties encountered in the global financial crisis. Chinese investors are always welcomed to start business in Zambia as an engine to boost local economy.Dai, for his part, hailed the traditional friendship between the two countries and reviewed the Zambian President's successful visit to China in February this year when he and Chinese President Hu Jintao reached common views in future development of bilateral relations.China will together with Zambia work hard to realize the common views and well push forward the bilateral relations, the Chinese senior official said.The China-Zambia cooperation, which has achieved fruitful developments, is strategic and mutual-beneficial cooperation. The relations between the two sides is on the basis of mutual respect, equal ties and joint development, Dai said.

BEIJING, June 23 (Xinhua) -- China's government is to step up efforts to strengthen administration by law and to raise its executive ability and credibility, said a government statement Wednesday.Some local governments and departments had prominent problems of defying the law in administration and greater efforts must be paid to build government by law, said the statement released after an executive meeting of China's State Council, or Cabinet, which was chaired by Premier Wen Jiabao Wednesday.The making of major policies must be subject to procedures such as soliciting of public opinions, consultations with experts, risk analysis, legality assessment and group decision-making, it said.The government must optimize the system of public opinion solicitation in drafting administrative laws and regulations, and enforce the law in a strict, just way, it said.The statement said public supervision of the government must be strengthened by making government affairs more transparent and ensuring the rights of the public and the media to report wrongdoing.The government must fully implement of the policy of holding officials accountable for any malpractice or dereliction of duty, it said.The government must also play a greater role mediating disputes and actively guide the public to appeal and settle disputes in accordance with the law.

BEIJING,Aug 17(Xinhuanet) -- China reduced its holdings of U.S. Treasury debt for a second straight month in June while the holdings of Japan and Britain rose.China's holdings fell by billion to 3.7 billion, a decline of 2.7 percent, the Treasury Department said Monday in a monthly report on debt holdings.Total foreign holdings of Treasury securities rose .6 billion to a total of trillion, an increase of 1.2 percent.The debt figures are being closely watched at a time when the US government is running up record annual deficits. A drop in foreign demand would lead to higher interest rates in the United States. The yield on Treasuries rises when fewer people invest in them.It would start with the US government paying more interest on its .3 trillion national debt and then ripple through the economy. Consumer loans such as home mortgages and auto loans track the yields on Treasurys, so they could rise, too.So far, interest rates in the United States have remained extremely low. A weak economy has depressed borrowing by the private sector and the Federal Reserve has kept a key interest rate at a record low level of zero to 0.25 percent in an effort to spur stronger growth.US interest rates have also been kept low by the European debt crisis in the spring. That triggered more investment in US Treasurys, which are considered the safest investment in the world because the US government has never defaulted on its obligations.China is the largest foreign holder of Treasury securities. The billion decline in China's holdings in June followed a .5 billion drop in May. China's holdings had hit a high for this year of 0.2 billion in April.There are concerns that China could influence US interest rates by rapidly selling off its holdings of US debt. That could lead others to dump their holdings and result in a spike in interest rates.But analysts say China is more likely to sell a little bit at a time."While it would hurt the United States if China started selling off our securities, it would hurt China just as badly because it would drive down the value of their holdings," said David Wyss, chief economist at Standard & Poor's in New York.Wyss predicted that China will slow its acquisition of new US government debt while diversifying its holdings. Wyss said that process has already begun, noting China's recent acquisition of energy and other natural resource holdings in Latin America and Africa.Japan, the second largest foreign owner of Treasury bonds, increased its holdings in June to 3.6 billion. That's an increase of .9 billion or 2.5 percent. Britain's holdings rose 3.5 percent to 2.2 billion.Japan had for years been the No 1 holder of Treasury securities, but was overtaken by China in September 2008.New government data showed that Japan lost its place as the world's second largest economy in the second quarter of this year. China moved up from No 3 to the No 2 spot, behind the United States.While the data on total economic output was for the second quarter, analysts believe China is on track to surpass Japan for the entire year and become the world's second largest economy.The US Treasury report said that net purchases of long-term securities, a category that covers not only US government debt but also debt of US companies, increased by .4 billion in June after rising .3 billion in May.

TAIYUAN/HARBIN, Aug. 1 (Xinhua) -- The death toll in an explosion at a coal mine in Linfen City of north China's Shanxi Province early Saturday has risen to 17 after another two bodies were found, local authorities said.The blast at Liugou Coal Mine of Yicheng County also left 104 persons injured, seven of them seriously, as of 11 p.m. Saturday, said Wang Jianshe, head of the county's People's Hospital, where all the injured were admitted.All the injured are in stable condition, Wang said.Basic search and rescue work is over, said a senior official of Yangquan Coal Industry (Group) Co. Ltd, which owns the mine. The official said that the blast took place in the dormitory area, where most of buildings were destroyed by the powerful explosion.A miner surnamed Zhang told Xinhua that families of many miners had come to live here because the children were currently on their summer vacation.But officials so far have not disclosed how many children and women had died during the accident.Zhang said he saw a couple died after huge stones fell on them in a dormitory room.Initial investigation showed that the blast was caused by explosives hidden illegally in the area, and a suspect has been detained by the police, the official said.A further Investigation into the cause of the blast is underway.Also on Saturday, 24 people were trapped in a flooded coal mine in northeast China's Jixi City, Heilongjiang Province.The city government said the accident at Hengxinyuan Mine took place at around 5 p.m. Saturday. No further detail is available immediately.

BEIJING, July 2 (Xinhua) -- The central parity of the Renminbi (RMB), or China's currency yuan, strengthened to 6.7720 per U.S. dollar on Friday, a new record high, according to the data released by the China Foreign Exchange Trading System.China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.