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BEIJING, April 11 (Xinhua) -- Credit extended by China's banks in the first quarter hit 4.58 trillion yuan (670 billion U.S. dollars), the People's Bank of China (PBOC) said Saturday.     In March alone, new yuan-denominated loans increased 1.89 trillion yuan. It was the third straight month that new loans exceeded 1 trillion yuan.     "It is not beyond market expectations. The increase was boosted by the 4-trillion-yuan stimulus plan and showed the possibility of a faster economic recovery in China compared with other countries," said Zhang Qizuo, vice director of China International Economy Society.     Premier Wen Jiabao said on March 5 at the opening of the annual session of the National People's Congress, China's legislature, that new yuan-denominated loans this year were expected to reach 5 trillion yuan.     Historical data show the first-quarter bank credit usually accounts for more than 60 percent of the year's total.     "There is a time lag between the credit increase and actual use of capital, but the big increase will surely lay a solid foundation for the recovery of the real economy," said Zhang.     In the first quarter, the central bank withdrew 47.3 billion yuan from circulation, 78.5 billion yuan more than the same period of last year.     "The increase in currency withdrawal from circulation showed the central bank was carefully watching the credit growth," said Yuan Gangming, an economist with Tsinghua University.     Zhuang Jian, an economist at the Asian Development Bank, said the regulators should pay attention to the quality of new loans and prevent bad loans.     By the end of February, non-performing loans by Chinese banks totaled 1.53 trillion yuan, 17.5 billion yuan less than the start of the year.     The structure of credit growth was also improving. The proportion of bill financing fell to about 22 percent in March from 47 percent in February, though still much higher than the average of 5 percent.     "The decline in bill financing is a good sign. It means company activities are increasing and the credit's impact on the economy is strengthening," said Zhuang.     Through March, the M2 figure -- a broad measure of money supply,which covers cash in circulation and all deposits -- grew 25.5 percent from a year earlier to 53.06 trillion yuan.     The narrow measure of money supply, M1 (cash in circulation pluscorporate current deposits), was up 17.04 percent year on year to 17.65 trillion yuan.     "The fast rebound of M2 indicates China's liquidity is abundant. This is very important to the economic recovery. The sharp rise of M1 shows companies are increasing spending on investment and management." said Zhang Bin, an economist with Chinese Academy of Social Sciences.

TAIPEI, March 14 (Xinhua) -- Premier Wen Jiabao's press conference on Friday has drawn positive comments in Taiwan, making the headlines in Saturday's local newspapers and leading to a rise in the stock market.     Mainstream newspapers on the island hailed Wen's remarks of "Even if I can no longer walk, I will crawl to Taiwan" as a big goodwill sign from the mainland toward improving cross-straits relations.     The China Times, besides devoting its front page to the press conference, ran an op-ed piece saying that the premier gave an amazing answer to the Taiwan-related question.     The article said Wen used ordinary language in his speech to stay close to ordinary Chinese people, which sounded sincere and showed greater confidence from the leader.     The United Daily News also widely covered the press conference, saying that Wen's remark that "We can launch new economic stimulus policies at any time" demonstrates confidence and hope.     Zhang Wuyue, director of the institute of mainland studies in Taiwan's Tamkang University, told Xinhua that the premier's words would have positive influences on cross-straits relations and help them toward peaceful development.     A senior staffer at a Taiwan investment company said that the premier's warm remarks have prompted the surge of stocks that were originally facing pressure to fall.     Taiwan's benchmark weighted index rose by 142.74 points, or 3 percent, to close at 4, 897.39 on Friday, the highest since November. Tourism shares surged by an overall 6.3 percent.

BEIJING, March 16 (Xinhua) -- China's Ministry of Railways (MOR) signed a deal with state-owned vehicle producer CNR Corporation Limited (CNR) here Monday to purchase 100 high-speed CRH trains for 39.2 billion yuan (about 5.74 billion U.S. dollars).     CRH, an abbreviation for China Railway High-speed, refers to trains with speeds above 200 km per hour. With a designed speed of 350km/h, the new CRH trains will travel between Beijing and Shanghai in 2011, when the construction of the 1318-km, high-speed railway between the capital city and the country's financial hub is expected to complete.     "The contract does not include any foreign parties, as Chinese companies possess core technologies for the high-speed trains and have complete intellectual rights over the 350km/h CRH type," said Zhang Shuguang, director of the transport department under the MOR.     The MOR had introduced railway technologies from Japan, France, Germany and Canada in the development and production of the 200km/h CRH trains already in operation at present.     According to the agreement between the ministry and CNR, all 100 trains will be self-developed and manufactured under the CNR group. Tangshan Railway Vehicle Co. and Changchun Railway Vehicle Co., two CNR subsidiaries, will be in charge of the production of 60 sets and 40 sets, respectively.     Zhang said China would see "large purchases" of CRH trains in the coming years upon the completion of more passenger railway lines across the country.     The MOR has planned to spend 500 billion yuan to buy trains over the next four years.     "The purchases will provide strong support for related industries," Zhang said.     The manufacturing of a CRH train requires nearly 100,000 parts from a wide range of industries such as mechanics, metallurgy, electrics, chemical, and materials.     "We will buy more CRH trains this year as a move to help stimulate domestic demand," said Zhang without giving further details on the purchasing plan.

MANDALAY, March 28 (Xinhua) -- Li Changchun, a senior official of the Communist Party of China (CPC), visited China-funded projects in Myanmar and other industrial and educational facilities amidst his on-going visit.     Li, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, visited the Myanmar's 3G core network, which was built by China's ZTE Corporation, one of China's leading telecom equipment producers.     After listening to reports from both sides, Li said that information and communication industry played an important role in modern society. "I am glad to see the results you have already achieved and hope you can enhance strategic cooperation in the telecom field."     He also urged ZTE and other Chinese companies in Myanmar to transfer technologies to their partners, train local technical contingent for better serving the clients and the local society.     On Friday afternoon, Li visited Hlaing Thar Yar city of industry and listened to the briefing of local officials. He also visited a plastic pipe plant and a factory of traditional Myanmar medicines.     Early on Saturday, Li flew from Yangon to Mandalay, the country's second largest city, and visited Mandalay industrial training center. The center was set up with a grant of 30 million RMB (4.39million U.S. dollar) from the Chinese government. It was designed to train local technicians for automotive production and maintenance.     Myanmar is the second-leg of Li's four-nation tour which will also take him to the Republic of Korea and Japan. He has already visited Australia