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BEIJING, May 27 (Xinhua) -- China and India have agreed to enhance political, economic ties and bolster people-to-people contact during a meeting between Indian President Pratibha Patil and Chinese Premier Wen Jiabao here on Thursday.It is the Indian president's first official visit to China and the first visit to China by an Indian head of state in the last decade.In the meeting Wen proposed the two states treat bilateral ties from a strategic and long-term point of view, enhance high-level communication and bolster cooperation, in a bid to benefit the two peoples and the world."Practicing mutual respect conforms with the fundamental interests of the two states and peoples and will spark new hope for human beings," Wen Jiabao said in the meeting.Patil said India and China share broad common interests in the bilateral and multilateral fields.She pledged to boost high-level contact, cement economic and trade ties, promote two-way investment and people-to-people contact, and strengthen coordination on major international affairs with China.In her meeting with Chinese top legislator Wu Bangguo, Patil said all the parties of India support the development of relations with China.Wu, chairman of the National People's Congress (NPC) Standing Committee, said to promote peaceful co-existence and common development of the two countries meets the fundamental interests of both sides, and complies with the mainstream trend of peace and development in Asia and the world."China and India do not pose as threat to each other and their common interests far outweigh differences," he added.Wu said he hopes the two sides understand and respect each other's core interests and major concerns, properly handle their differences, and seek common development and a win-win situation."A good China-India relationship makes both winners while a confrontational one makes both losers," he added.Patil said the two countries had conducted sound cooperation not only in bilateral field but also under multilateral frameworks including BRIC and G20.The cooperation between India and China in the Copenhagen climate change summit served as a good example of bilateral cooperation in global affairs, she added.Patil arrived here Wednesday for the week-long state visit.
BEIJING, May 4 (Xinhua) -- Chinese equities dropped to a seven-month low Tuesday, after the central bank said Sunday it would raise the deposit reserve requirement ratio (RRR) for most financial institutions for the third time this year.The benchmark Shanghai Composite Index lost 1.23 percent to close at 2,835.28 points.The Shenzhen Component Index fell 1.81 percent to 10,960.77 points.Total turnover shrank to 141.55 billion yuan (20.7 billion U.S. dollars) from 191.91 billion yuan on the previous trading day.Losers outnumbered gainers by 533 to 347 in Shanghai and 488 to 429 in Shenzhen.

CHICAGO, April 21 (Xinhua) -- The Chicago-based Boeing Company reported on Wednesday that its first-quarter net earnings were 519 million U.S. dollars, down 15 percent from 610 million dollars in the same quarter last year, citing the health care legislation charge.The aerospace and defense giant said in its first quarterly financial report that total revenues for the first three months were 15.22 billion dollars, down from 16.50 billion dollars in the prior year quarter while the earnings per share was down to 70 cents from 86 cents one year ago.Boeing indicated that the results for the quarter reflect solid performance across core businesses and a previously disclosed 20 cents charge per share on health care legislation, while the year- ago quarter results were reduced by 31 cents per share on a charge due to poor market conditions in commercial airplanes."With clear progress on the 787 and 747-8, solid financial performance and marked improvement in our customer outlook, we continue to draw on the positive momentum we saw at the end of 2009," said Jim McNerney, Boeing chairman, president and chief executive officer.Boeing's earnings guidance for 2010 is pegged at 3.50 dollars to 3.80 dollars per share, reduced from 3.70 to 4.00 per share due to the charge on health care legislation. At the same time, the company continues to expect that 2011 revenue will be higher than 2010, primarily driven by projected 787 and 747-8 deliveries."Our outlook remains attractive, and we are focused on executing well and delivering on our commitments to customers," said McNerney.The report also indicated that the 787 program continued flight testing during the quarter, as an additional two airplanes joined the two airplanes already in the flight test program.The Dreamliner completed key flight test milestones such as flutter, stall and ground-effect tests. On March 28, the static test unit successfully completed the ultimate load test with a fully pressurized cabin.The 787's first delivery is expected in the fourth quarter of 2010. Total firm orders for the 787 at quarter-end were 866 airplanes from 57 customers.
BEIJING, April 10 (Xinhua)-- China's trade balance turned red in March with the country's first monthly trade deficit in six years, the General Administration of Customs (GAC) said Saturday.China exports were valued at 112.11 billion U.S. dollars in March, up 24.3 percent year on year, while the imports surged 66 percent to 119.35 billion U.S. dollars, resulting in a deficit of 7.24 billion U.S. dollars.The deficit was China's first since it posted a 2.26 billion deficit in April 2004, according to a report released by the GAC.China's total foreign trade rose 42.8 percent year on year to 231.46 billion U.S. dollars in March, according to Customs statistics.In the first quarter, foreign trade rose 44.1 percent to 617.85 billion U.S. dollars, with a surplus of 14.49 billion U.S. dollars though it was down 76.7 percent from the same period of last year.The country's trade surplus hit 23.7 billion U.S. dollars in February.Li Jian, a research fellow with the Research Institute under the Ministry of Commerce, said China's trade surplus had been falling since the start of the year."The deficit in March was just an extension of this trend," Li said.He said China did not purposefully pursue a trade surplus and had adopted a policy of encouraging imports and achieving a trade balance over the years.As the economy improved, any shift in people's expectations towards macro economic policies on liquidity and investment would influence importers' decisions and imported commodity prices, he said."Externally, we need to prudently monitor the world economy to avoid risk of a double-dip recession," he said. "Domestically, we need to focus on economic restructuring and transformation of economic growth pattern based on the stable growth of foreign trade."The GAC attributed the March deficit to shrinking exports of labor-intensive products, surging imports and rising commodity prices."The deficit in March is neither a recession, nor can it be sustained," the GAC said in its report, adding the deficit was small and China had maintained a "basic balance" between imports and exports.
BOAO, Hainan, April 10 (Xinhua) -- Chinese Vice President Xi Jinping said Saturday that the mainland is willing to see the ongoing negotiations of the Economic Cooperation Framework Agreement (ECFA) with Taiwan "smoothly proceed without disturbance so as to achieve results and produce economic benefit soon."Xi made the remarks when meeting with Fredrick Chien, chief advisor of Taiwan's Cross-Straits Common Market Foundation, on the sidelines of the annual meeting of the Boao Forum for Asia in southern province of Hainan.The long-awaited cross-Strait economic pact, with aims to normalize mainland-Taiwan economic ties and bring the two economies closer, is hoped to be signed by the end of June.Chinese Vice President Xi Jinping (R) meets with Fredrick Chien, chief advisor ofTaiwan's Cross-Straits Common Market Foundation in Hainan, on April 10, 2010.Xi said how to further enhance economic cooperation remains a priority of the current cross-Strait relations.Both the mainland and Taiwan has been on the way of economic recovery, he said, adding the cross-Strait economic exchanges are entering a new development stage.He called on the two sides to constantly enrich the content of cooperation, expand cooperation areas, innovate ways of cooperation and improve the level of cooperation to further benefit people on both sides.The past year saw a series of positive progress and breakthroughs in cross-Strait relations, and both sides should value the hard-won situation and continue to improve it, Xi said.He said the mainland and Taiwan should actively promote cooperation of "new-type industries," expand two-way investment and strengthen exchanges of the financial services sector, among others, in order to enhance common economic development on both sides."We always believe that people in the mainland and Taiwan are both the Chinese and the economy of both sides belongs to the Chinese economy, though the two sides have gone through different development paths over the past six decades," he said.The cross-Strait economic cooperation advocated by the mainland is conducive to common prosperity and can help safeguard and expand the Chinese nation's interests, he said.Recognizing that the mainland and Taiwan belong to one China is a fundamental foundation for the peaceful development of cross-Strait relations, Xi said.He added that striving to realize the rejuvenation of the Chinese nation should be the mainstream of cross-Strait relationship development."As long as the two sides consider themselves as one family, it will be easy to discuss anything and any problem could be eventually resolved," Xi said.Chien said the two sides should strengthen cooperation, particularly in green industry and financial service sector, for common development.The two sides should work hard to ensure the signing of the ECFA as early as possible, he said.The mainland and Taiwan concluded the second round of expert-level talks on the ECFA on April 1.Formal discussions on the ECFA will also be a highlight at a new round of talks between the mainland's Association for Relations Across the Taiwan Straits (ARATS) and Taiwan-based Straits Exchange Foundation (SEF), which is scheduled in the first half of 2010.
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