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BUCHAREST, May 6 (Xinhua) -- China's top political advisor Jia Qinglin said here Monday that China and Romania share the same task of opening up a new era in their all-round partnership of friendship and cooperation.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political consultative body, delivered a speech at a session of the Romanian Senate on Monday evening.     In his speech, Jia explained China's policy and concept of peaceful development and mutually beneficial, win-win cooperation with other countries. He emphasized the willingness to further deepen friendship between China and Romania and advance China's relations with Central and Eastern Europe in an all-round way. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference, delivers a speech at the Romanian Senate in Bucharest, Romania, May 5, 2008.     Jia was warmly welcomed by Romanian Senators as he entered the meeting hall at the Parliament Palace under the escort of President Nicolae Vacaroiu.     China and Romania enjoy a long-standing friendship. Romania is one of the first countries that recognized new China shortly after its founding. Since the two countries established diplomatic relations nearly 60 years ago, bilateral relations have been growing smoothly despite major changes in international situation and conditions in both countries. The two countries have been always supporting each other on international affairs and domestic development.     Over the past few years, China and Romania have maintained frequent exchange of visits by high-ranking officials. Chinese President Hu Jintao visited Romania in 2004, when the two countries lift their relations to an all-round partnership of friendship and cooperation.     "The true friendship and deep passion that the Romanian people cherish toward the Chinese people will always remain on the historical record of bilateral relations," Jia said in the speech.     In the speech entitled "continuing the past, opening up the future and jointly creating a better tomorrow of friendship and cooperation", Jia said the two peoples have become friends of all weathers and that China-Romania relations have become an example of international relations.     Jia put forward four proposals on further advancing bilateral links.     First, the two countries should enhance political trust. They should continue to respect and treat each other as equals, never interfere in each other's internal affairs and pay attention to each other's concern. They should maintain high-level contact and carry out even closer exchanges and cooperation between their governments, legislatures and political parties so as to lay a solid political foundation for sustained development of bilateral links.     Secondly, the two countries should expand trade and economic cooperation. They should expand trade and investment according to the principle of mutual complementarity, equality and mutual benefits. They should continue to give a full play to the role of their joint economic commission, encourage and support their companies to increase contact and explore new ways and methods of cooperation.     Thirdly, the two countries should deepen cultural and humanitarian exchanges. They should continue exchanges and cooperation in such fields as culture, science, technology, education, sports, public health and tourism so as to add new content to bilateral links. They should further expand people-to-people exchanges, exchanges among local authorities and young people so as to consolidate the foundation of China-Romania friendship and add vigor to the development of bilateral links.     Fourthly, the two countries should step up coordination and cooperation on international issues. They should join effort to build a fair, unbiased and rule-based multi-lateral system with the United Nations assuming the core role.     Jia said China-Romania friendship is deep-rooted and fruitful and will enjoy an even better future. He called for the people of the two countries to join hands in strengthening their traditional friendship and all-round cooperation.     Jia arrived in Bucharest Sunday for a four-day official goodwill visit to Romania. Romania is the first leg of his four-nation Europe tour, which will also take him to Hungary, Slovenia and Croatia.

BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

BEIJING, July 7 -- Chinese state-owned banks, including Industrial & Commercial Bank of China, intend to boost the contribution of the credit card business to their profits as they tap the rising demand to use plastic to pay for purchases.     ICBC, the country's biggest lender, expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million now, Li Weiping, president of the Beijing-based bank's card center, told Shanghai Daily on Saturday in Shanghai. Industrial & Commercial Bank of China Ltd expects to boost its credit cards in circulation to 50 million at the end of 2009 from 33 million nowThe country's biggest bank, which had earlier planned to boost card number to between 35 million and 38 million, expects to achieve the target, going by the pace of its card issuance in the first half, Li said. The credit card business accounts for about 10 percent of the bank's intermediary business, or fee-based income, and is one of the main contributors.     Chinese banks are shifting from its traditional deposit-lending business as they expand their profit avenues.     ''We expect the contribution (of credit cards to profit) to grow by 2 to 3 percentage points annually,'' Li said.     ICBC is among the country's "big four" state-owned banks to speed up the credit card business while their smaller joint stock rivals have already an edge in the market.     China Merchants Bank, the sixth biggest lender on the Chinese mainland, has one-third share of the credit card market. Other state-owned banks, including Agricultural Bank of China, said they are seeking growth as they pursue prudent risk control.     China Construction Bank expects to break even on its credit card business next year, said Wu Huitao, deputy general manager of the bank's credit card center. CCB targets card numbers at 20 million at the end of this year, from 16 million now, Wu said.     Credit cards will be the most important consumer credit product after mortgages, with profit forecast to reach US.6 billion by 2013, accounting for 22 percent of total consumer credit profits, said New York-based McKinsey & Co.

TIANJIN, Aug. 19 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday urged local officials and enterprises to seize opportunities and persevere in reform and opening-up to achieve stable and fast economic growth.     Efforts should be made to foster new areas of economic growth so as to reach the goal of long-term steady and fast economic development, Li said during an inspection tour from Aug. 18-19 in Tianjin, a north China port city. Li Keqiang (C), Chinese Vice Premier and member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspects in Tianjin, north China, Aug. 18, 2008. Li Keqiang paid a visit to Tianjin from Aug. 18 to Aug. 19.Li, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, visited local factories, construction sites, port, commercial and trade service zones and residential districts during his inspection tour.     He urged local officials to speed up efforts to build the Binhai New Area into a northern portal of the country's reform and opening up drive, a base of modern manufacturing and scientific research and application, and an international shipping and logistics center.     The Binhai New Area, a pilot reform zone, consists of the three administrative districts of Tanggu, Hangu and Dagang and eight industrial zones currently under construction.     Li stressed the importance of expanding domestic market demands in boosting economic development in an era of global economic uncertainty. He called for greater efforts to raise Chinese people' income through various channels and actively explore the rural consumption markets. Li Keqiang (C), Chinese Vice Premier and member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, inspects in Huaming Township of Dongli District in Tianjin, north China, Aug. 18, 2008. Li Keqiang paid a visit to Tianjin from Aug. 18 to Aug. 19

TOKYO, May 1 (Xinhua) -- Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan.     "We warmly welcome President Hu to Japan," said Fukuda in the talks with the Chinese students at his residence.     He said that despite some problems in bilateral ties, he hoped that the Chinese students will, under whatever circumstances, recognize the importance of Japan-China relations and strive for their development.     China is a major power in the world, and the performance of a major power has direct bearing on world stability, said the Japanese prime minister, adding that Japan hopes to foster a relationship with China that helps make joint efforts for world stability. Li Guangzhe (R), a Chinese student who is also head of the Chinese students' association in Japan, presents to Japanese Prime Minister Yasuo Fukuda an album commemorating the 110th anniversary of Chinese students studying in Japan in Tokyo, May 1, 2008. Japanese Prime Minister Yasuo Fukuda met on Thursday with 10 representatives of Chinese students studying in Japan, delivering friendly messages before the upcoming visit of Chinese President Hu Jintao to Japan    Enquiring about their campus life from time to time, Fukuda encouraged the Chinese students to work hard and make due contributions to the Japan-China friendly relations.     The Japanese government and universities provide Chinese students with very favorable conditions for their study, said Li Guangzhe, a Chinese student who is also head of the Chinese students' association in Japan.     Li said that the Chinese students are determined to play a positive role in promoting China-Japan friendship while studying in Japan.     Chinese President Hu Jintao is scheduled to pay a state visit to Japan from May 6 to 10.