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BEIJING, Nov. 17 (Xinhua) -- China and the United States on Tuesday underlined in a joint statement their commitment to the eventual realization of a world free of nuclear weapons. They also reiterated their opposition to the proliferation of weapons of mass destruction in the statement issued after talks between Chinese President Hu Jintao and visiting U.S. President Barack Obama. The two sides will jointly uphold the international nuclear non-proliferation regime, and agreed to enhance non-proliferation cooperation on the basis of mutual respect and equality, the statement said. They promised to work together for a successful Review Conference of Parties to the Treaty on the Non-Proliferation of Nuclear Weapons in 2010, and committed to pursue ratification of the Comprehensive Nuclear-Test-Ban Treaty (CTBT) as soon as possible. The joint statement said the two countries stand ready to strengthen communication and cooperation in nuclear safety and security and in combating nuclear terrorism. China attaches importance to the U.S. initiative to hold a nuclear security summit in April 2010 and will actively participate in the preparations for the summit, according to the joint statement.
CAIRO, Nov. 7 (Xinhua) -- Chinese Premier Wen Jiabao on Saturday met Arab League Secretary General Amr Musa and expressed China's willingness to further its cooperation with the Arab countries by enriching the contents of the China-Arab friendly cooperation. The Chinese premier met the Arab League secretary general at the league's headquarters in Cairo. "Under the current international political and economic circumstances which are undergoing profound and complicated changes, it is in the interests of both China and the Arab countries to strengthen cooperation which contributes toward world peace, stability and development," the Chinese premier said. Wen told Musa that China is willing to pool efforts with the Arab League and Arab countries to render the China-Arab Cooperation Forum into a more effective platform which will result in more progress. Chinese Premier Wen Jiabao (L) meets with Arab League Secretary General Amr Moussa at the headquarters of the Arab League in downtown Cairo Nov. 7, 2009 "Both China and the Arab countries belong to the developing world," said the Chinese premier who expressed his appreciation for Musa's positive contribution toward the promotion of the Arab-China friendly relations. The Arab League secretary general said during the meeting that Wen's speech delivered earlier at the Arab League headquarters highlighted the importance China has attached to developing its friendly relations with the Arab world. Musa expressed his gratitude to China for its support to the just Arab causes. He reiterated the league's support to China's territorial integrity. He hoped that the Arab League would cooperate with China in all fields to promote the Arab-China Cooperation Forum and to promote world peace, regional stability and development.

JOHANNESBURG, Dec. 24, (Xinhua) -- Legal ties between China and Africa have taken a major step forward with the conclusion of the First Forum on China-Africa Legal Co-operation in Cairo, Egypt on Monday. Under the theme "Strengthen China-Africa Legal Exchange and Promote All Round Development of China-Africa Relationship", this forum was the first time lawyers from the China and Africa had met in such circumstances. Greg Nott, who led the South African delegation, said on his return to Johannesburg on Thursday that he was "terribly excited by this forum and look forward to the implementation of a number of proposals tabled." These included an exchange and cooperation between Chinese and African legal circles and a legal "think tank" to promote a universal and sustainable development of the China-Africa relationship. Nott, who is the legal representative of the China-Africa Development Fund as well other China investor clients, said there were a number of other "ambitious and exciting proposals". These include "the establishment of training and consulting centres as well as training projects for young African lawyers. This goes all hand-in-hand with private sector lawyers driving intellectual and legal support for business activity on both continents." The forum was convened as the first step towards pragmatic cooperation between Chinese and African legal circles. It was attended by delegates from Botswana, Ethiopia, Nigeria, Tanzania, Uganda and Zambia, as well as a strong delegation from the China Law Society. The agenda included the important role of law in China-Africa cooperation, an introduction to the legal systems of China and African countries and their impact on trade and investment relations. A number of prominent Egyptian and Chinese lawyers presided over the panels. The lawyers have much work to do because while China has one legal system, the 53 nations which make up Africa each have their own systems. Most are based on either the British legal system, with elements of Roman/Dutch law, or the French legal system. There is also a strong legacy of Portuguese influence in former colonies. China's civil law system is based on traditional customs and practices, with Soviet and German influence. Held on Dec. 20 and 21, the forum was hosted at the Cairo Regional Centre for International Commercial Arbitration. The South African delegation included Rajen Ranchhoojee and Sheng Wu of the Johannesburg legal firm Dewey & LeBoeuf, where Nott is the managing partner. The legal forum followed shortly after the meeting of foreign ministers at the fourth Forum on Africa China Cooperation, which was held in for Sharm-El-Sheikh, Egypt from Nov. 8 to 9. At that meeting South African International Relations and Cooperation Minister Maite Nkoana Mashabane said China had played an important role in Africa's renewal. "For instance it has had significant role in peacekeeping in Africa." She said a major strength of Chinese aid was its orientation to recipient priorities such as infrastructure (telecommunications, energy, roads) and productive sector investments (agriculture). "Furthermore, Chinese assistance is considered to be relatively predictable assistance because it is disbursed on schedule within the intended financial year." At that point she said development cooperation between South Africa and China is was regulated by two Agreements, "namely an agreement on Human Resource Development that was signed in 2004 and a February 2007 Agreement on Technical and Economic Cooperation".
DATONG, Shanxi, Dec. 28 (Xinhua) -- Chinese Vice Premier Li Keqiang on Monday called for renovating the hovels in urban areas and at state-owned factories and mines across the country to better the livelihood of needy people. Renovation of all squatter homes in cities and at state-owned factories and mines should be completed in the next fives years. Those hovels at state-owned forest zones, reclamation areas and coal mines will be renovated within three years, Li told a national meeting. Different kinds of government funds will be used in the renovation work, and private investment will be encouraged, Li said, adding that favorable tax and land policies will be implemented. He said the renovation efforts should be open and transparent and respect the wishes of the broad masses. Efforts should be made to avoid corruption. Li said China will promote the building of low-rent houses to meet people's basic needs for housing. By the end of 2008, China has 11.48 million families living in hovels, 7.44 million of which live in cities, 2.38 million nearby state-owned plants and mines, 1.66 million in forest zones and reclamation areas.
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.
来源:资阳报