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BEIJING, Oct. 27 (Xinhua) -- Chinese leaders on Wednesday met with visiting Italian President Giorgio Napolitano and discussed advancing bilateral relations.Wu Bangguo, chairman of China's National People's Congress (NPC) Standing Committee, the country's top legislature, said China and Italy both faced severe challenges and new opportunities as the international situation was undergoing profound changes.As the two countries shared a wide range of common interests, Wu said, it was in the fundamental interests of both peoples to develop China-Italy ties, which also worked for world peace and development.As this year saw the 40th anniversary of bilateral diplomatic relations, the two countries should maintain exchanges and dialogues at all levels, take care of each other's major concerns and deepen political trust, Wu said.Wu proposed all-round trade and economic cooperation, particularly in the fields of environment, science and technology, small and medium-sized businesses.Wu called on the two countries to step up communication and coordination under the China-EU and Asia-Europe frameworks and the international organizations like the United Nations and Group 20 in a bid to build a fair and reasonable international political and economic system.Napolitano, on his first visit to China as Italian head of state, said Italy appreciated China's remarkable economic and social development.The 85-year-old underscored Italy's commitment to developing ties with China, saying Italy and Europe could not develop without building closer links with China.Napolitano said Italy would take care of China's major concerns, enhance trade and economic cooperation and expand exchanges of visits.

BEIJING, Nov. 8 (Xinhua) -- Chinese stocks rose for a third straight trading day Monday with the benchmark Shanghai Composite Index closing up 0.96 percent, or 30.01 points, at 3,159.51.The Shenzhen Component Index gained 0.54 percent, or 73.94 points, to finish at 13,807.3.Combined turnover declined to 453.1 billion yuan (68 billion U.S. dollars) from 459.17 billion yuan the previous trading day.Gainers outnumbered losers 743 to 132 in Shanghai and 950 to 140 in Shenzhen.Agricultural shares led the gains with a 5.39 percent rise amid increased inflation expectations and surging farm product prices.Some economists believe China's consumer price index (CPI), the main gauge of inflation, jumped 4 percent year on year in October.Yasheng Industrial Group, Yongan Forestry Group and Fengle Seed Company all rose by the daily limit of 10 percent, ending at 6.47 yuan, 12.84 yuan and 20.77 yuan, respectively.Local stocks in Shanghai continued their surge after Walt Disney Co. inked a deal Friday for its long-awaited theme park in the city.Shanghai Lujiazui Finance and Trade Zone Development Co., Ltd rose 4.8 percent to 22.7 yuan while Shanghai Pudong Road and Bridge Construction Co. Ltd. gained 3.08 percent to finish at 20.43 yuan.Yu Wei, an analyst at Shiji Investment, said more "hot money" will flow into Chinese capital markets because of the U.S. Federal Reserve's second round of quantitative easing, QE2."As the government works on controlling inflation and the property market, the A-share market will be the most attractive place for 'hot money' inflows," he said.

SHANGHAI, Oct. 18 (Xinhua) -- China will continue to promote gradual exchange rate reforms, even while the yuan is expected to stabilize at a reasonable level, said Yi Gang, head of the State Administration of Foreign Exchange (SAFE) Monday in Shanghai.Yi, also deputy governor of the People's Bank of China (PBOC), or the central bank, made the remarks at a seminar held by the International Monetary Fund (IMF) to discuss the theme "Macro-Prudential Policies -- an Asian Perspective"."The flexibility of the yuan has increased since China launched exchange rate reforms in June. We will further boost those reforms, but the process will be gradual," Yi said."Judging from the markets, the yuan can remain stable at a reasonable and balanced level," he said.China will also continue to expand domestic demand and boost construction in rural medical services, education and infrastructure, he said.Five years ago, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to fluctuate against a basket of currencies and appreciate by 2.1 percent.Since then, the yuan has strengthened further, albeit slowly, and has risen more than 21 percent against the greenback.On June 19 this year, the Chinese central bank announced that it would further reform the yuan's exchange rate mechanism to improve its flexibility.

AMMAN, Oct. 12 (Xinhua) -- Chinese Middle East envoy Wu Sike on Tuesday discussed regional peace with Jordanian Foreign Minister Nasser Judeh in Amman, stressing the importance of collective efforts of all concerned parties.Wu said China is concerned about the direct Palestinian-Israeli talks which are suspended now, adding China hopes that all parties could proceed from long-term interests and work together to help direct talks to resume and to achieve positive results as soon as possible.He also urged Israel to respond actively to the settlement issue to create the atmosphere for the resumption of direct talks.Judeh highlighted Beijing's role in the Middle East peace process and expressed Jordan's willingness to strengthen cooperation between the two countries to save the peace process.Jordan is the first stop of Wu's Middle East trip, which also includes the Palestinian territories, Israel, Turkey and Egypt.

KUNMING, Aug. 29 (Xinhua) -- At least 14 people were injured and more than 7,300 houses damaged in an earthquake that jolted Yunnan and Sichuan provinces in southwest China Sunday.The earthquake measuring 4.8 on the Richter scale occurred at 8:53 a.m., hitting an area bordering the two provinces.The epicenter, with a depth of about 10 kilometers, was located at 27.1 degrees north latitude and 102.9 degrees longitude, according to the earthquake network center in Sichuan.Thirteen people were injured in the latest earthquake, and 7,354 houses were destroyed in the quake, including 122 houses being toppled, plus road cave-ins in Qiaojia County of Yunnan, according to Zhou Yingbin, deputy head of the county government.Another person was slightly injured in Ningnan County of Sichuan, local officials said, who added that nobody was reported dead or missing in the quake.