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VIENNA, May 19 (Xinhua) -- Visiting Chinese Minister of Commerce Chen Deming stressed here on Wednesday that China will continue to stick to the policy of opening up and protecting the legitimate rights and interests of foreign-invested enterprises (FIEs) in the country.Speaking at a joint press conference with Reinhold Mittelehner, the Austrian economic affairs minister, and Christoph Leitl, president of the Austrian Chamber of Commerce, Chen said the Chinese government will step up intellectual property protection, and that all foreign investment enterprises in China will be treated equally.He called on Austria's small and mid-sized businesses to invest in China, especially in western China where "there are better chances."China and Austria should amend their agreements on investment protection for better results, Chen said.In addition to cooperation in traditional industries such as machinery, auto parts and transportation infrastructure, China and Austria can also cooperate in clean energy and environmental protection, Chen said.Chen was leading a trade mission to Austria. The two countries signed over a dozen cooperation agreements in trade and economy.

JINAN, May 2 (Xinhua) -- A Hong Kong cargo ship sank off Weihai City, east China's Shandong Province, Sunday after a collision with a Liberian-registered freighter, rescuers said.All 46 crew members of the two vessels were safe after the accident at 5:23 a.m., the city's maritime safety bureau said in a statement.The accident could have occurred in foggy conditions at the time, said Li Zhiqiang, an official with the city's maritime safety bureauThe 23 Chinese crew of the Hong Kong-registered Bright Century and the 23 Indian crew of the Liberia-registered Sea Success had been rescued as of noon, he said.Water had flooded into the damaged prow of the Sea Success, but the vessel was still afloat.The bureau had dispatched a ship to shadow the vessel as it was still in negotiations with the owner about the cost of towing the ship to port.The bureau is investigating the cause of the accident.

BEIJING, June 1 (Xinhua) -- China has promising growth prospects and should not be blamed for world imbalances, says Danny Quah, a renowned British economist."Emergency financing that was placed in the Chinese economy to counter the downturn from the 2008 global financial crisis was the right thing...The imbalances is a global problem, not a China problem," said Quah, a professor at the London School of Economics and Political Science.China did the right thing in infusing its economy with fiscal stimulus, Quah said in a recent interview with Xinhua.He also declined to describe the ballooning real estate prices as a bubble, pointing out "the strong fundamentals" of China's economy.He said the expansion of China's housing construction will be proved useful eventually, given the fact that "China is still engaging in the task of moving hundreds of millions of people from rural areas to urban China to continue to power its manufacturing and industrial progress.""So I would not describe it as a collapse of real estate bubble, we can look forward to a rationalization of housing and real estate prices," Quah said. "The improvement and expansion of housing stock will play an important role in continuing to move the Chinese economy forward.""I think Chinese fundamentals will continue to be strong. And a little bit of high inflation, as long as it doesn't break out into some kind of runaway high inflation, is probably no bad thing," he said. "We will get it under control again as the Chinese government did previously."On allegations that China deliberately keeps its currency RMB weak to obtain unfair advantages in trade with countries like the United States, Quah said people who draw such a false conclusion are misguided."The United States is running a trade deficit not just against China. It is running a trade deficit against almost 100 other countries," he said. "China is not unique in how it is exporting more to the United States than it's importing."The U.S. government was beginning to run a large trade deficit long before China's trade surpluses started grow, he added."If you take the ratio of China's bilateral trade surplus against the U.S. as a fraction of the U.S.' overall bilateral trade deficit against all of the countries, it has remained constant over the last 15, 20 years," Quah said.

BEIJING, May 15 -- China is planning to raise the proportion of profits it collects from major State-owned enterprises (SOEs) in a move to balance income distribution, but analysts said the move should be bolder and the collected profits used to improve public well-being.The Ministry of Finance said on Tuesday that it might raise the ratio of profits of SOEs to be submitted to the State coffers.According to existing rules, monopoly enterprises under the administration of the central government in sectors like tobacco, oil, petrochemicals, power, telecommunications and coal mining should submit 10 percent of their post-tax profits, while the ratio for those in the iron and steel, transportation, electronics and trade sectors should be 5 percent.Financial corporations and companies in sectors like railways, transportation, education, culture, science and technology and agriculture are not included in the profit submission framework.The Ministry of Finance did not reveal by how much the ratio would be raised."It should be raised properly, and even if it were raised by 10 percentage points, it doesn't matter too much for those central enterprises, given their high profit level," said Zhang Wenkui, researcher with the State Council's Development Research Center.Central enterprises have been criticized by the public for having taken advantage of their monopoly or market predominance to make excessive profits. Some of them have further fueled public anger as they bid to purchase land at high prices, which is believed to have pushed up home prices.The central government collected profits of 14 billion yuan ( billion), 44.4 billion yuan and 98.9 billion yuan respectively in 2007, 2008 and last year from SOEs. In 2009 alone, however, the enterprises made profits totaling 965.6 billion yuan.

DAR ES SALAAM, May 5 (Xinhua) -- "China-Africa new strategic partnership has currently reached a new level, however there is still a necessity for the partnership to be expanded and strengthened as the situation is developing," Liu Guijin, special envoy of the Chinese government on African affairs, told Xinhua here on Wednesday ahead of the plenary session of the 20th World Economic Forum on Africa.Liu said that the "eight new measures" announced by Chinese Premier Wen Jiabao at the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) held in the Egypt in November pointed out the favorable direction in the next three years to enhance China-Africa cooperation."First, expand the current China-Africa economic and trade cooperation, which has achieved great progress in recent years. The bilateral trade volume surpassed 106.8 billion U.S. dollars in 2008. However, it decreased a little by 14 percent to more than 90 billion dollars in 2009 due to the negative effect of the international financial crisis, " Liu said.The Chinese diplomat also noted that the key sector to expand and strengthen China-Africa new strategic partnership lies on investment as the African continent lacks of funds for infrastructure, adding that Chinese companies made a lot of investment on Africa's infrastructure and the Chinese government is committed to continually supporting infrastructure construction in Africa for its development.Liu also called for further enhancing political mutual trust between China and Africa, hailing the China-Africa Joint Research and Exchange Program included in the "eight new measures" to enhance China-Africa cooperation, which enables the African and Chinese scholars and nongovernmental organizations among others to make more research on China-Africa relations to promote the mutual understanding of governments and peoples of both sides.

来源：资阳报