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BEIJING, April 5 --The People's Bank of China says the country will be more open to foreign capital this year even though the prospect of a strong economic recovery is still unclear.Although the impending withdrawals of various countries' economic stimulus packages may also complicate the efforts to end the global economic crisis, the Chinese government has decided to increase the penetration of foreign capital into the country's financial industry in an appropriate way.An editorial in the "Global Times" quotes some western officials who said if China opened its market to western financial institutions the way it opened its market to five-star hotels, the potential risks would be huge for the country itself and the world at large.The editorial warns the doors to free trade should not swing open too quickly and that market openness should be managed at the right pace, as China has done during the past three decades. But it also notes that the stakes are higher in the country's financial industry. It argues that if China is fully open to foreign capital, the capital operation pattern common in developed economies such as the United States and several European nations will not suit its existing financial system on such short notice. As a result, chaos would erupt sooner or later in the financial sector.The editorial concludes that China should gradually liberalize its financial industry, because a sudden torrent of foreign capital would be undesirable. It calls for a prudent approach to financial liberalization that would yield a productive outcome as evidenced over the past three decades of gradual financial reform whereby more market competition has been encouraged and distressed loans have been effectively curbed. Such a policy has shielded China from being hit as severely by the current financial crisis and enabled it to rebound quicker than other advanced nations.
PYONGYANG, May 9 (Xinhua) -- The Rodong Sinmun, a leading newspaper of the Democratic People's Republic of Korea (DPRK), hailed the recent successful visit to China by top leader Kim Jong Il in an editorial published Sunday.The editorial said that the people of the DPRK are "very glad and excited" about the visit. It is a "meaningful opportunity" to strengthen the friendship between the two parties and the leaders of the two countries.The article also indicated that the DPRK will make efforts to further strengthen the traditional DPRK-China friendship.Both countries shared the view that peace, stability and prosperity of the Korean Peninsula are in the common interests of the two countries and other Northeastern Asian nations, the editorial said.The two sides will make joint efforts to achieve the objective of denuclearizing the Peninsula on the basis of the Sept. 19 Joint Statement, it added.The editorial also said that the people of the DPRK sincerely wish the Chinese people still greater achievements in their socialist construction and the cause for national reunification.Kim Jong Il made an unofficial visit to China from May 3 to 7. He has visited China for five times since 2000.
NANPING, Fujian, March 25 (Xinhua) -- Four of the five injured school children in a stabbing attack in southeast China's Fujian Province Tuesday, which left eight dead, became conscious Thursday, local authorities said.The four were in a relatively stable condition but still faced uncertainties and were all under intensive care, said Liu Bin, an official with the health bureau of Nanping City, where the bloodshed occurred.Zheng Minsheng, a former community doctor in the city, stabbed 13 children at the entrance of a primary school Tuesday morning in Nanping when crowds of students were arriving, leaving eight dead and five injured.One senior doctor and several chest surgeons arrived in Nanping from Beijing Wednesday to treat the children.The Procuratorate of Yanping District in Nanping City approved the arrest of Zheng Wednesday afternoon, on charges of intentional homicide, said Ye Xianjin, director of the Yanping District procuratorate office Wednesday.Zheng committed the attacks as he felt frustrated after breaking up with his girlfriend last year. He also said he found life meaningless, according to Xu Jingping, deputy head of the city's public security bureau.
STOCKHOLM, March 30 (Xinhua) -- Chinese Vice President Xi Jinping on Tuesday met with Swedish King Carl XVI Gustaf, complimenting the Swedish royal family for their contributions to promoting relations between Sweden and China.At the beginning of the meeting, Xi conveyed Chinese President Hu Jintao's compliments and best regards to the Swedish king, for which the Swedish king expressed his gratitude.Xi said that 60 years ago Sweden led many Western countries in taking the initiative to establish diplomatic ties with the new China, a move which the Chinese government and people always highly appreciate.Chinese Vice President Xi Jinping (R) meets with Swedish King Carl XVI Gustaf in Stockholm, Sweden, March 30, 2010.Thanks to concerted efforts by both sides in more than half a century, the Sino-Swedish relationship has reached a mature phase featured with frequent exchange of high-level visits, steady increase in mutual political trust, close trade and economic ties, mutually beneficial cooperation in science and technology, education, culture and environment protection, and active interactions at the local government level and between the two peoples, Xi said.The Chinese government attaches great importance to develop friendly and cooperative ties with Sweden and highly values the active role Sweden plays in EU and international affairs, the Chinese vice president said.He said that the Swedish royal family has devoted themselves to promoting Swedish-Chinese exchange and friendship and made great contributions to the development of relations between the two countries.
CHENGDU, May 29 (Xinhua) -- China Saturday started construction of a center in southwestern China's Sichuan Province to train giant pandas born in captivity to live in the wild.The center is located at Majiagou of Yutang Town, Dujiangyan City, said Zhang Zhihe, head of the Chengdu Giant Panda Breeding and Research Base and founder of the center.The center covers an area of 134.87 hectares and will cost 160 million yuan (23.5 million U.S. dollars).After the center is completed, the breeding and research base will put 40 to 50 giant pandas raised in captivity into the center for training and research, according to Zhang.The center will cooperate with the Chengdu breeding and research base, the Wolong Giant Panda Conservation Base, the Dujiangyan Disease Control and Prevention Center for Giant Pandas and the Shaanxi Rescue Center for Endangered Animals.In the experimental zone of the center being built, the giant pandas will be trained to reduce their dependency on humans. But they will still live in cages.After five to 10 years training in the experimental zone, the giant pandas that perform well will be introduced into the "half-natural" zone.In the following five to 10 years, the pandas there will live in tree holes or caves and forage for food. But they will still receive frequent checkups and participate in artificial breeding.Then, only one or two of the giant pandas will have the chance to spend another five to 10 years in a nearly "natural" zone with little human contact. Then they will be released into the nearby giant panda natural reserve, Zhang said.Giant pandas are the world's most endangered species. Some 1,590 panda live in the wild and over 300 pandas are in captivity in China, Zhang said.China started a giant panda training project in 2003 to teach the animals to live in the wild. But the project suffered a major setback when Xiang Xiang, a five-year-old male panda, was found dead in a remote part of the Wolong Nature Reserve in February 2007.Xiang Xiang was released into the wild in April 2006 after nearly three years of training.