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TAIPEI, Sept. 11 (Xinhua) -- Financial organizations from the Chinese mainland and Taiwan have stepped up cooperation to take advantage of business opportunities brought by a landmark cross-Strait economic pact, the Economic Cooperation Framework Agreement (ECFA).The board of directors of Taiwan-based Taishin Financial Holdings decided on Sept. 9 to sign a cooperation agreement with mainland-based Nanjing Zijin Investment Co., a move hailed by the company as "the first step to enter the mainland."The agreement aims to promote exchanges and cooperation between the two companies and their subsidiaries, while Nanjing Zijin will ease the way for Taishin's new operations on the mainland, Taishin said.The company's Taishin Bank is also planning to set up an office in Nanjing, capital of east China's Jiangsu Province.Prior to this, China Huarong Asset Management Corporation (CHAMC) and Taiwan-based SinoPac Holdings signed an agreement in Beijing on Sept. 3 to begin a new strategic cooperation. According to the agreement, the two sides will cooperate in personnel training, exchange of management experiences and information, as well as in research, development of new products and new business models.Huarong President Lai Xiaomin said the ECFA would promote a quickening flow of economic resources across the Taiwan Strait, including the movement of personnel, materials, capital and information."The ECFA will bring great business opportunities for cross-Strait economic development and boost cooperation between financial institutions on both sides, thus bringing new development opportunities for financial industries across the Strait," he said.The ECFA, which is to take effect on Sunday, was signed by negotiators from the mainland and Taiwan in June, and aims to establish a systematic mechanism for enhancing cross-Strait economic cooperation.Wang Jianmin, a researcher of the Institute of Taiwan Studies of the Chinese Academy of Social Sciences, said substantial financial cooperation between the two sides has lagged behind trade cooperation for a long time."The ECFA, however, will have a positive impact," he said.The banking service sectors might be among the first to make breakthroughs in cross-Strait financial cooperation.The mainland-based Bank of China and Bank of Communications applied to the Taiwan economic department on Sept. 7 to set up representative offices in Taiwan.According to the ECFA, mainland banks can set up representative offices in Taiwan upon approval by the Taiwan authority and can then apply to set up a branch bank one year after the establishment of representative offices on the island.

BEIJING, Aug. 30 (Xinhua) -- Chinese Vice President Xi Jinping said here Monday China hopes to work with Norway to boost bilateral economic and trade cooperation.Xi told visiting Norwegian Minister of Foreign Affairs Jonas Gahr Stoere he hopes the two countries will expand cooperation in areas such as shipping, fisheries, energy, environmental protection and the Arctic.Xi said as long as the two nations respect each other and especially respect each other's core interests and major concerns, China-Norway relations will develop in a healthy way.Stoere expressed appreciation for China's achievements in social and economic progress, saying that the Norwegian government will increase cooperation with China in politics, economics, culture, science and technology, energy and finance.Norway hopes to sign a free trade agreement with China, Stoere added.Chinese foreign minister Yang Jiechi held talks with Stoere earlier Monday.

XINING, Oct. 16 (Xinhua) -- Ten people died while 34 others were injured after a passenger bus plunged over a bridge in a mountainous region in northwest China's Qinghai province on Saturday, local police said.The accident occurred in Dulan county, Mongolian-Tibetan-Kazak Autonomous Prefecture of Haixi, at 4: 59 a.m. Saturday, police said. At least two children were among the dead.The injured are being treated in a major hospital in the nearby Golmud city, police and hospital sources said. Three of them remain in critical conditions.An initial probe said the driver's misjudgment was to blame.

DUBLIN, Sept. 27 (Xinhua) -- Visiting senior Communist Party of China (CPC) official Li Changchun on Monday met with Irish President Mary McAleese and Prime Minister Brian Cowen to discuss bilateral relations.Li, a member of the Standing Committee of the CPC Central Committee Political Bureau, said that bilateral relations have developed steadily since China and Ireland established diplomatic relations. Especially in recent years, the two nations have increased high-level exchanges, enhanced political mutual trust and broadened trade cooperation.He added that China has become the biggest trading partner of Ireland in Asia for five consecutive years, and the two countries have reached fruitful achievements in science and technology, education and culture and maintained close coordination on international affairs.Li Changchun (R), a member of the Standing Committee of the Political Bureau of the Central Committee of the Communist Party of China, meets with Irish President Mary McAleese in Dublin, Ireland, Sept. 27, 2010.Li expressed appreciation for Ireland's adherence to the one- China policy and said China is willing to join hands with Ireland to strength dialogue and communication, deepen pragmatic cooperation in the various fields.For her part, McAleese said in recent years, closer political exchanges and trade cooperation between Ireland and China have further promoted the development of bilateral ties. She hoped that both sides would continue to maintain such positive momentum and expand cooperation to elevate the ties to a higher level.

BEIJING, Nov. 2 (Xinhua) -- Chinese companies' overseas investment rose 10.4 percent year on year in the first nine months even as global investment as a whole dropped sharply over the period, a senior Chinese official said Tuesday.Chinese companies invested 36.3 billion U.S. dollars overseas in the first three quarters, excluding investments in financial sectors, as other other companies, hit by the global downturn, reduced overseas investment, Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, China's top economic planning agency, said at the opening of the 2nd China Overseas Investment Fair in Beijing.China has emerged as a major source of foreign direct investment (FDI) outflows.Although global FDI outflows dropped 40 percent year on year in 2009, China's overseas investments rose 14.2 percent year on year to 47.8 billion U.S. dollars, said Zhang.By the end of 2009, more than 12,000 Chinese firms had set up 13,000 overseas enterprises in 170 countries and regions, he said.The National Development and Reform Commission approved the two-day Second China Overseas Investment Fair, which the China Industrial Overseas Development and Planning Association (CIODPA) and China Development Bank are co-hosting.Representatives of government, multinational companies, international organizations and financial institutions from more than 120 countries gathered at the trade fair to persuade Chinese investors to invest overseas.

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