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BEIJING, Oct. 28 (Xinhua) -- Access to debt finance, leading technology and lower cost gave Chinese mining and metals investors an advantage in the global mergers and acquisitions (M&A) market, accounting giant Ernst & Young said Thursday."Competition for mining and metals assets around the world has steadily increased during 2010, with the sector's total deal value as of Sept. 30 growing 87 percent over the same period last year," said Ernst & Young global mining and metals leader Mike Elliott.The firm's statistics show the total value of the world's deals in mining and metals for the year to Sept. 30 reached 78.9 billion U.S. dollars, with the number of deals growing 10 percent year-on-year to 827.For China, the value of mining and metals deals at Sept. 30 has surged 53 percent to 8.9 billion U.S. dollars. Of the 102 transactions, 49 were outbound deals, 40 domestic and 13 inbound."China's outbound M&A investment continues to be driven by the country's need to secure reliable sources of raw materials to support its rapid economic growth and urbanization plans," Ernst & Young China mining and metals leader Peter Markey said."Debt finance in particular has a strong appeal to vendors, given the lack of bank finance available to miners. Bidders able to provide not just equity but also direct or indirect access to debt are very appealing," he said.Similarly, bringing innovative Chinese technology to the deal table, together with access to equipment and supplies which lower operating costs, had proved a winning formula for some successful Chinese acquirers this year, Markey said.

CHANGCHUN, Nov. 3 (Xinhua) -- Chinese Vice Premier Zhang Dejiang met with a delegation of the Democratic People's Republic of Korea (DPRK), led by Premier Choe Yong Rim, who paid a visit to China's northeast region.Zhang said China will make joint efforts with the DPRK to expand and deepen bilateral exchanges and cooperation and promote the China-DPRK friendship to a new height so as to benefit both countries and peoples as well as contribute to regional peace, stability and development.Chinese Vice Premier Zhang Dejiang (R) shakes hands with the Democratic People's Republic of Korea(DPRK) Premier Choe Yong Rim during their meeting in Changcun, northeast China's Jilin Province, Nov. 3, 2010.The Chinese government supports the expansion of cooperation and joint development between the DPRK and China's northeast region, which borders the DPRK and has close associations with the country, Zhang said.Choe congratulated China on its economic and social development, saying that the DPRK was willing to draw experience from China and further strengthen its exchanges and cooperation with the country.

BEIJING, Oct. 2 (Xinhua) -- The number of passengers traveling on China's railway set a new daily record on Oct.1 driven by holiday makers and improved rail transport capacity, railway authorities said Saturday.Daily railway passenger traffic on Friday hit 8.3 million riders, up 19.8 percent year on year and overtaking the daily record of 7.1 million set on May 1 during the Labor Day holiday, the Ministry of Railways (MOR) said.Friday's figure also outnumbered the previous day by 1.8 million, the MOR said.Over the past four days more than 24 million people in China chose to travel by train, which is 10.3 percent higher than the figure during the same period last year, said the ministry.Thanks to China's increased transport capacity, stemming partially from high-speed railway construction, railway authorities managed to meet the travel demands of holiday makers, which are dominated by travelers and those who were returning home.China's weeklong National Day holiday begins on Friday.China has 7,055 kilometers of high-speed railway in service, which is the world's longest, said He Huawu, chief engineer of the MOR.By 2012, China will have a railway network of 110,000 kilometers, 13,000 kilometers of which will be high-speed rail, according to the MOR.

SHANGHAI, Oct. 23 (Xinhua) -- An official of one of China's top government think tanks called on Saturday for the readjustment of the nation's breakneck expansion of the auto industry as an explosion of new cars on China's roads aggravates problems with pollution and congestion.Liu Shijin, deputy director of the Development Research Center of the State Council, told a forum that the government should shift its guidance to automakers from mere pursuit of output capacity to environment-friendly and energy-saving targets.Also, auto manufacturers should strengthen their safety and quality control standards, he said.Sales of domestically-manufactured autos rose 36 percent year on year to reach 13.14 million units in the months through September, as lower-priced automobiles have become more affordable for better-off Chinese people, according to data released by the China Association of Automobile Manufacturers (CAAM) on Oct. 12.In fact, annual sales and production could exceed 17 million, CAAM said.Although the expansion has brought an industrial boom to the country and boosted domestic demand, it has also triggered widespread concerns over the country's energy capacity, pollution levels and notorious traffic jams.In Beijing, the increasing number of private cars, along with heavy rainfall and a spurt in holiday travel, caused a record 140 traffic jams on a single Friday evening last month. In some parts of the city on that day people spent nearly two hours on what would normally have been a 15-minute commute.Further, Liu said increasing social problems arising from the country's industrial boom has made its future development unsustainable, which is a test for the government.He also suggested government allow market forces to play a larger role in allocating resources, and also permit uncompetitive producers to be phased out.

GUIYANG, Sept. 1 (Xinhua) -- China Wednesday called for the European Union to have a balanced, objective, comprehensive understanding of the world's largest developing country during an upgraded strategic dialogue held in the underdeveloped province of Guizhou.State Councilor Dai Bingguo told the EU side that despite rapid economic growth, China has no possibility to be arrogant, nor is it pretending to be a richer or poorer country than it actually is, with unfathomable strategic intentions, according to Vice Foreign Minister Fu Ying."China expects the EU to treat itself as an equal," Dai was quoted by Fu as telling EU High Representative for Foreign Affairs and Security Policy Catherine Ashton.The meeting was the fifth strategic dialogue between the two sides and the first since it was upgraded from vice foreign-minister level to its current level.China had made remarkable achievements since its reform and opening up to the outside, but it is still a developing country, Dai said.China has a clear understanding of its position in the international arena and its current level of development, Dai said, adding it will focus on economic development in the long run.China has not been, nor is, nor will be in the pursuit of hegemony, but adheres to the path of peaceful development, Dai said.China needs a peaceful international environment for development and its development will promote global peace and development, he said.Ashton echoed Dai, saying that the European Union should have a comprehensive understanding of China.The EU's view of China's development was one topic of the one-day closed-door meeting."It is one major aim of this strategic dialogue to enhance mutual understanding between China and the European Union. Both sides have a strong will to better understand each other and promote political mutual trust, so as to promote bilateral cooperation," said Chinese Vice Foreign Minister Fu Ying in an interview with Xinhua.The two sides also discussed the international situation and the development of the China-EU relationship.On the international situation, China urged all countries to join hands to cope with global challenges.On China-EU relations, China said it supports EU integration. The two sides should strengthen political dialogue, enhance strategic mutual trust, expand cooperation, properly handle sensitive issues and have more people-to-people exchanges, so as to promote a strategic partnership of cooperation.