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BEIJING, Dec. 8 (Xinhua) -- Senior Chinese leader Li Changchun congratulated Tuesday the publication of the latest edition of the most authoritative encyclopedic dictionary of the Chinese language "Cihai", or "sea of words." Li, a Standing Committee member of the Political Bureau of the Communist Party of China (CPC) Central Committee, expressed his gratitude to experts for their constant improvement of the dictionary and their "contribution to the prosperity of the socialist culture," in a meeting with the experts engaged in this "significant cultural project." Li Changchun (R), member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, meets with experts and workers engaged in compiling and publishing the sixth edition, the latest, of the most authoritative encyclopedic dictionary of the Chinese language "Cihai", or "sea of words." in Beijing, capital of China, Dec. 8, 2009Liu Yunshan, head of the Publicity Department of the CPC Central Committee, said the sixth edition of the renowned Chinese dictionary systematically reflects the civilization of the mankind, especially the Chinese civilization, and fully displays the development achievements and great changes taking place in China in the past six decades. The new edition, which took five years to complete, has more than 127,200 entries and over 16,000 pictures. It had removed 7,000 outdated or rarely used terms and included 12,300 new ones. The latest edition has been on sale in major cities such as Beijing and Shanghai. The first edition of Cihai came out in 1936. It has been revised every 10 years and this year was published ahead of the National Day on Oct. 1.
BEIJING, Dec. 7 (Xinhua) -- Vice Premier Wang Qishan on Monday hoped China and Germany would increase mutually-beneficial cooperation in various fields to promote bilateral relations. "China and Germany are highly complementary in economy and share great potential for cooperation," Wang told visiting German Federal Minister of Economics and Technology Rainer Bruederle. Hailing the China-Germany 37-year diplomatic relations, Wang said the two nations had witnessed frequent high-level exchanges and increased cooperation in economy, trade, investment, science, technology, culture and other fields. China was in a period which witnessed accelerated industrialization and urbanization, Wang said. "We will unswervingly follow the principle of putting people first and the scientific concept on development to seek sustainable development." Bruederle said Germany would work with China to expand bilateral cooperation, in a bid to promote healthy and stable development of trade and economic relations between the two nations.

BEIJING, Jan. 4 -- China International Capital Corp (CICC) topped the rankings of the underwriters of China's initial public offerings (IPOs) in 2009, making an estimated 1.23 billion yuan from fees, Bloomberg data showed. The earning of the country's largest investment bank was boosted by underwriting the China State Construction Engineering Corp's 50.1 billion yuan IPO, the world's second-largest in 2009. CICC also took two other heavyweight companies public, China Shipbuilding Co Ltd and China CNR Co Ltd, raising 14.7 billion yuan and 13.9 billion yuan respectively. CITIC Securities, the top underwriter in 2008, fell to the No 2 spot in the ranking, making 855 million yuan from IPO deals totaling 28.7 billion yuan, according to Bloomberg data. The third slot went to Orient Securities, which earned 258 million yuan from IPO deals worth 11.9 bllion yuan. IPOs are among the most lucrative advisory businesses for Chinese securities firms as China has witnessed an IPO boom since it reopened the market last June after a 10-month halt blamed on the widespread global credit crunch. Chinese securities companies saw an exponential growth in their revenues from the IPO business, making a total of 4.76 billion yuan from underwriting fees, doubling the 2.35 billion yuan in 2008. But the earnings still lagged far behind the 7.61 billion yuan made during the pre-crisis period in 2007. Last year, 43 Chinese securities firms helped 111 companies go public on the mainland's A-share market, raising 202.2 billion yuan. The value of the IPO deals taken by the top 10 underwriters accounted for more than 70 percent of the total IPO values. Market insiders said the IPOs of heavyweight companies will remain the target for large investment bank and securities companies such as CICC and CITIC Securities next year while small and medium securities companies will make start-up board ChiNext their primary focus. Stock prices of listed securities companies soared sharply in the past two weeks, mainly stimulated by unconfirmed reports that China's State Council has given the final nod for the introduction of index futures in 2010. Analysts said Chinese securities companies would likely see a surge in revenues this year after the regulators announce a clear timetable for the launch of the index futures, margin trading and short selling. "The new products will certainly boost the earnings and valuations of the brokerage stocks," said Cheng Binbin, an analyst with Qilu Securities "It not only means strong profit growth for securities firms in the future but also a gradual transition toward a more risk-diversified business model." It is forecast that margin trading and short selling will likely contribute 9.41 to 14.3 billion yuan in revenues of securities companies in 2010 while index futures will contribute 5.76 to 6.34 billion yuan. The net profit of China's brokerage industry may reach 90 billion yuan in 2009, a year-on-year increase of 90 percent, according to an estimate by Guotai Junan Securities. Meanwhile, foreign banks also grabbed a share of the lucrative pie of China's booming capital market last year with Swiss bank UBS ranked the largest underwriter of Chinese overseas IPOs. The bank contracted 8 million in underwriting fees from Chinese companies that sought IPOs in the Hong Kong market, worth a total of billion last year, Bloomberg data showed. Mergers and acquisitions (M&As) made by the Chinese companies remained the traditional cash cow for foreign investment banks in 2009. Morgan Stanley was the No 1 financial advisor in M&A deals worth .9 billion on the Chinese mainland and Hong Kong, according to Bloomberg data. The largest M&A deal in 2009 made by a Chinese company was the .5 billion acquisition of Swiss oil company Addax Petroleum by China's largest oil refiner, Sinopec.
BEIJING, Oct. 29 (Xinhua) -- Sino-U.S. ties have been warmed up for U.S. President Barack Obama's upcoming China visit by frequent contacts between high-level officials from both sides, Chinese experts said Thursday. The 20th meeting of China-U.S. Joint Commission on Commerce and Trade (JCCT) was officially convened on Thursday morning in China's eastern city of Hangzhou. This year's JCCT talks, highlighted by U.S. Commerce Secretary Gary Locke, Trade Representative Ron Kirk and Agriculture Secretary Tom Vilsack, were widely seen as part of preparations for the presidential summit next month. "Today's JCCT meeting laid a solid groundwork and made full preparations for President Obama's visit in two weeks, which will help build the positive, cooperative and comprehensive China-U.S. relations toward the 21st century," China's Minister of Commerce Chen Deming said at the end of talks. In the meantime, Xu Caihou, vice chairman of China's Central Military Commission, was paying his first visit to the United States under the Obama administration. During his talks with U.S. Secretary of Defense Robert Gates, Xu and Gates explored ways to further military-to-military cooperation and reached agreement on seven points, which included Gates' visit to China in 2010 and mutual visits of warships. The agreement on conducting joint maritime searches and rescue exercises has already had the embryonic form of crisis management mechanism, said Ding Xinghao, president of the Shanghai Association of American Studies. During the 11-day visit, the Chinese general was also invited to visit some sensitive military sites, including the Strategic Command Headquarter, which was in charge of nuclear weapons and cyber war. Xu's visits to the sensitive military sites showed the U.S. military's willingness to promote mutual trust with the Chinese military, said Fu Mengzi, a researcher with the China Institute of Contemporary International Relations. Since the Obama administration took office, Sino-U.S. relations have witnessed a smooth transition and maintained a good momentum of development. In June 2009, the defense ministries of China and the United States held the 10th defense consultation. In July, the two countries held their first round strategic and economic dialogue. In August, the two militaries held the maritime military security consultation. In addition, Obama issued a "presidential determination" On Sept. 29 that shifted authority for approving sales to China of missile and space technology from the White House to the Commerce Department, a move viewed by experts as Washington's delivery of goodwill to Beijing. It was also noteworthy that U.S. Deputy Secretary of State James B. Steinberg proposed a new term to describe U.S.-China relations in his keynote address entitled "Administration's Vision of the U.S.-China Relationship" at the Center for a New American Security in Washington on Sept. 24. "Strategic reassurance", as Steinberg noted, means that "just as we and our allies must make clear that we are prepared to welcome China's 'arrival'...China must reassure the rest of the world that its development and growing global role will not come at the expense of security and well-being of others." This term captured the crux of Sino-U.S. ties, said Niu Xinchun, vice director of the Center for American Studies at the China Institute of Contemporary International Relations. "It is aimed at realizing the strategic mutual trust between the two countries." The foundation for the sustained and stable development of bilateral ties lies in mutual trust, he said, but trade frictions between the two nations show that mutual trust still needs to be strengthened. Obama announced in September to impose 35 percent punitive tariffs on all car and light truck tires from China for three years. Just on Tuesday, the U.S. Department of Commerce announced preliminary determination that intended to impose a tariff up to 12 percent on the steel grafting and steel strand imported from China, valued 269 million U.S. dollars. In addition, China and the United States still have differences on some issues concerning China's core interests, such as U.S. arms sales to Taiwan and Tibet-related issues. Although both sides have the willingness to enhance mutual trust, it is still difficult for them to fulfill the goal, said Fu Mengzi, adding it needs sustained efforts from both sides. "Sino-U.S. relations are now standing at a new historical starting point," said Chinese Vice Premier Wang Qishan at the opening ceremony of the 20th JCCT meeting. "President Obama's first China visit will surely provide new opportunities for bilateral cooperation."
SHANGHAI, Nov. 16 (Xinhua) -- Visiting U.S. President Barack Obama said Monday that different countries should learn from each other to diversify cultures in the world. "Each country in this interconnecting world has its own culture, its own history, and its own traditions," Obama said during a dialogue with Chinese students in the Shanghai Science and Technology Museum. "It is very important for the United States not to assume what is good for us is automatically good for somebody else," he said when responding to a question raised by a Shanghai college student about how to promote cultural exchanges between different countries. U.S. President Barack Obama gestures as he delivers a speech at a dialogue with Chinese youth at the Shanghai Science and Technology Museum during his four-day state visit to China, Nov. 16, 2009 Obama said one of the U.S. strengths is the country has a very diverse culture, and has people coming from all around the world. "There is no one definition of what America looks like," he added. He cited his family as an example of diverse cultures, saying the family is like "the United Nations" as his father was from Kenya, his mother from Kansas of the U.S. Midwest, while his sister was a half-Indonesian married to "a Chinese person from Canada." Obama flew into Shanghai from Singapore on Sunday night to kickoff his four-day visit to China, his first trip to the Asian country since taking office in January. Later Monday, he will fly to Beijing, where he will hold talks with Chinese President Hu Jintao and meet with other Chinese leaders.
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