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BEIJING, May 26 (Xinhua) -- China's central government has allocated 270 billion yuan (about 39.7 billion U.S. dollars) for infrastructure investment so far this year, a National Development and Reform Commission (NDRC) official told legislators Tuesday. That amount is part of a planned total of 367.6 billion yuan in the 2009 central budget. Adding another 30 billion yuan from last year's budget meant that the country had already allocated 300 billion yuan to infrastructure investment since the fourth quarter of last year, NDRC vice director Mu Hong told legislators. The NDRC is China's top economic planning body. Mu made his comments during a session on major public investment projects held by the Standing Committee of the National People's Congress, the top legislature. The money is also part of the 4-trillion-yuan, two-year stimulus plan announced late last year as the economic downturn deepened.
BEIJING, May 14 (Xinhua) -- Two revised rules involving a planned Nasdaq-style stock market, the Growth Enterprise Market (GEM), will take effect on June 14, according to the China Securities Regulatory Commission (CSRC) Thursday. The two rules involve establishing an independent committee to approve listings for the GEM and the management of sponsors of IPOs. The two rules are taken as a key step closer toward introducing the much-anticipated GEM, a board intended to nurture innovation-driven start-ups as the government tries to help smaller companies get financing and encourage technological advances. The rules are the same as the drafts issued on April 17 to solicit public opinions, said the CSRC. Under the rules, the new panel will have 35 members. Five will come from the CSRC and the others from the accounting, law and other sectors. The panel won't include members of the review panel for IPO application on the main board. Under the rules, the sponsors of IPOs on the GEM are required to monitor the companies' performance for three years, up from two for companies on the main board.

ROME, July 6 (Xinhua) -- Chinese President Hu Jintao held talks with Italian President Giorgio Napolitano on Monday, calling for a boost to ties between the two countries. During the talks, Hu said Chinese-Italian relations have witnessed healthy and stable expansion over the past 39 years since the two countries established diplomatic relations. In 2004, the two countries agreed to establish an all-around strategic partnership, unveiling a new page for Chinese-Italian friendly cooperation, Hu said. As next year will mark the 40th anniversary of the forging of bilateral diplomatic relations, China is willing to join hands with Italy to lift bilateral ties to a higher level, Hu said. Chinese President Hu Jintao (L) shakes hands with Italian President Giorgio Napolitano prior to their talks in Rome, capital of Italy, July 6, 2009. According to a press release issued by the Chinese delegation, Napolitano agreed with Hu, saying cooperation between Italy and China has seen smooth expansion in a wide range of fields. Napolitano said Italy is willing to further increase its economic cooperation and trade with China, exert every effort to host the "Chinese Culture Year" in Italy and push forward the development of bilateral ties at large. In order to boost the ties, the Chinese president offered a five-point proposal, according to the press release. Firstly, Hu said the two countries should increase communications, exchanges and mutual visits between high-level leaders. Hu proposed that both sides host various events to mark the 40th anniversary of the establishment of diplomatic relations, adding that much attention should be attached to the "Chinese Culture Year" next year in Italy. Secondly, Hu said the two sides should enhance political mutual trust and understand each other's major concerns. The Taiwan and Tibet issues are the key concerns of the Chinese side, Hu said, urging Italy to understand China's concerns and offer support. Hu also said he believed Italy would continue to exert its influence within the European Union to boost the EU-China ties at large. Thirdly, Hu urged both sides to expand substantial cooperation on various fields such as trade, investment, science and technology, environment protection, medicine and tourism. Fourthly, the Chinese president said both sides should increase people-to-people communications and cultural exchanges in order to boost their bilateral friendship. Finally, Hu urged both sides to conduct more cooperation and communications in international organizations and on multi-national occasions. Hu said both countries could enhance dialogue and coordination on various major international issues such as the global financial crisis, reform of the UN Security Council, climate change, environment protection and sustainable development. Napolitano, on his part, praised China for its important role in the international arena as well as in addressing major global challenges. He said he appreciates China's role in the G20 summit, the G8 + 5 summit and active participation in UN peacekeeping actions. He also said the Italian side spoke highly of the measures China has taken to tackle the global financial crisis and economic downturn. He noted that China's participation is a must for the international community in its move to tackle the crisis, reform the international financial system and realize sustainable development. On the EU-China relations, Napolitano said Italy would continue to play an active role in boosting the ties. The president also reiterated Italy's adherence to the one-China policy. According to the press release, Hu also briefed his Italian counterpart on the latest social and economic developments in China. The two leaders held the talks at the Quirinal Palace, and Napolitano hosted a grand welcoming ceremony in honor of Hu prior to the talks. Hu arrived in Rome earlier on Sunday for a state visit at the invitation of Napolitano. Hu was also to attend the summit of the Group of Eight and major developing countries later this week in the central Italian city of L'Aquila. This is the sixth time that the Chinese president has attended the G8 outreach session. The previous one took place in the northern Japanese resort of Toyako last July. The G8, an informal forum of leading industrialized nations, includes Germany, France, Britain, Italy, Japan, the United States, Canada and Russia.
BEIJING, April 30 (Xinhua) -- China hopes to increase cooperation with Vietnam to push forward comprehensive strategic cooperative partnership, said top Chinese political advisor Jia Qinglin on Thursday. "Stronger Sino-Vietnamese cooperation is significant when facing with international financial crisis," Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body, told Vietnamese Deputy Prime Minister Nguyen Thien Nhan in Beijing. China and Vietnam would hold a friendship year in 2010. "We should grasp the opportunity to promote our friendship," Jia said. Jia Qinglin (front R), chairman of the National Committee of the Chinese People's Political Consultative Conference meets with Vietnamese Deputy Prime Minister Nguyen Thien Nhan (front L), who is also Vietnam's Minister of Education and Training, in Beijing, China, April 30, 2009 The establishment of comprehensive strategic cooperative partnership last year lifted bilateral ties into a new height, said Jia. Frequent high level contacts, economic cooperation and increasing exchanges brought concrete benefits for the two peoples, he said. Nhan is also Vietnam's Minister of Education and Training. Jia hoped the two nations would further expand cooperation in education. Nhan said Vietnam was ready to work with China to promote cooperation in education, culture, science and technology,. Chinese State Councilor Liu Yandong also met with Nhan later Thursday.
ZAGREB, June 20 (Xinhua) -- Chinese President Hu Jintao's just concluded three-nation tour is "very successful" in enhancing friendship, boosting cooperation and promoting common development with relevant countries, Foreign Minister Yang Jiechi said Saturday. During the tour from June 14 to June 20, President Hu attended the ninth annual summit of the Shanghai Cooperation Organization (SCO) and the first BRIC (Brazil, Russia, India and China) summit in Yekaterinburg, Russia, and paid state visits to Russia, Slovakia and Croatia. Hu's tour took place amid the complicated and changing international situation, while the global financial crisis continues to spread, regional security faces new challenges, and various countries share stronger will to deepen cooperation and promote development, Yang said. The tour was a significant diplomatic move taken by China to develop relations with neighboring countries, major developing countries as well as Central and Eastern European countries, said Yang. He said the tour has made successful achievements in four major areas. Chinese President Hu Jintao (C) attends the small-sized group meeting of the leaders of Shanghai Cooperation Organization (SCO) member states and observers in Yekaterinburg, Russia, on June 16, 2009
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